Intended Third Party Beneficiaries. Notwithstanding any provision herein to the contrary, the parties to this Agreement agree that it is appropriate, in furtherance of the intent of such parties as set forth herein, that the Trustee, the Master Servicer and the Depositor receive the benefit of the provisions (but not the obligations or duties) of this Agreement as intended third party beneficiaries of this Agreement to the extent of such provisions. The Special Servicer shall have the same obligations to the Trustee, the Master Servicer and the Depositor as if they were parties to this Agreement, and the Trustee, the Master Servicer and the Depositor shall have the same rights and remedies to enforce the provisions of this Agreement as if it was a party to this Agreement. The Special Servicer shall only take direction from the Master Servicer (if direction by the Master Servicer is required under this Agreement) unless otherwise directed by this Agreement. Notwithstanding the foregoing, all rights and obligations of the Trustee, the Depositor and the Master Servicer hereunder (other than the right to indemnification) shall terminate upon the termination of the Trust Fund pursuant to the Trust Agreement).
Appears in 20 contracts
Samples: Servicing Agreement (Lehman Mortgage Trust 2006-6), Servicing Agreement (Lehman Mortgage Trust 2006-9), Servicing Agreement (Lehman Mortgage Trust 2007-6)
Intended Third Party Beneficiaries. Notwithstanding any provision herein to the contrary, the parties to this Agreement agree that it is appropriate, in furtherance of the intent of such parties as set forth herein, that the Trustee, the Master Servicer Trustee and the Depositor receive the benefit of the provisions (but not the obligations or duties) of this Agreement as intended third party beneficiaries of this Agreement to the extent of such provisions. The Special Servicer shall have the same obligations to the Trustee, the Master Servicer Trustee and the Depositor as if they were parties to this Agreement, and the Trustee, Trustee (acting through the Master Servicer Servicer) and the Depositor shall have the same rights and remedies to enforce the provisions of this Agreement as if it was a party they were parties to this Agreement. The Special Servicer shall only take direction from the Master Servicer (if direction by the Master Servicer is required under this Agreement) unless otherwise directed by this Agreement. Notwithstanding the foregoing, all rights of the Trustee and the Depositor hereunder (other than the right to indemnification) and all rights and obligations of the Trustee, the Depositor and the Master Servicer hereunder (other than the right to indemnification) shall terminate upon the termination of the Trust Fund pursuant to the Trust Agreement).
Appears in 19 contracts
Samples: Servicing Agreement (Lehman Mortgage Trust 2007-5), Servicing Agreement (Lehman Mortgage Trust 2006-7), Servicing Agreement (Lehman Mortgage Trust 2007-6)
Intended Third Party Beneficiaries. Notwithstanding any provision herein to the contrary, the parties to this Agreement agree that it is appropriate, in furtherance of the intent of such parties as set forth herein, that the TrusteeTrust Fund, Master Servicer, the Master Servicer Depositor and the Depositor Trustee receive the benefit of the provisions (but not the obligations or duties) of this Agreement as intended third party beneficiaries of this Agreement to the extent of such provisions. The Special Servicer shall have the same obligations to the TrusteeTrust Fund, the Master Servicer Servicer, the Depositor and the Depositor Trustee as if they were parties to this Agreement, and the TrusteeTrust Fund, the Master Servicer Servicer, the Depositor and the Depositor Trustee shall have the same rights and remedies to enforce the provisions of this Agreement as if it was a party they were parties to this Agreement. The Special Servicer shall only take direction from the Master Servicer (if direction by the Master Servicer is required under this Agreement) unless otherwise directed by this Agreement. Notwithstanding the foregoing, all rights and obligations of the TrusteeTrust Fund, the Master Servicer, the Depositor and the Master Servicer Trustee hereunder (other than the right to indemnification) shall terminate upon termination of the termination Trust Agreement and of the Trust Fund pursuant to the Trust Agreement).
Appears in 15 contracts
Samples: Reconstituted Servicing Agreement (Structured Adjustable Rate Mortgage Loan Trust Series 2006-5), Reconstituted Servicing Agreement (Sasco 2006-Wf1), Reconstituted Servicing Agreement (Structured Asset Securities Corp)
Intended Third Party Beneficiaries. Notwithstanding any provision herein to the contrary, the parties to this Agreement agree that it is appropriate, in furtherance of the intent of such parties as set forth herein, that the Trustee, the Master Servicer Securities Administrator and the Depositor receive the benefit of the provisions (but not the obligations or duties) of this Agreement as intended third party beneficiaries of this Agreement to the extent of such provisions. The Special Servicer shall have the same obligations to the Trustee, the Master Servicer Securities Administrator and the Depositor as if they were parties to this Agreement, and the Trustee, the Master Servicer Securities Administrator and the Depositor shall have the same rights and remedies to enforce the provisions of this Agreement as if it was a party they were parties to this Agreement. The Special Servicer shall only take direction from the Master Servicer (if direction by the Master Servicer is required under this Agreement) unless otherwise directed by this Agreement or the Credit Risk Manager Agreement. Notwithstanding the foregoing, all rights of the Securities Administrator, the Depositor (other than the right to indemnification) and all rights and obligations of the Trustee, the Depositor and the Master Servicer hereunder (other than the right to indemnification) shall terminate upon the termination of the Trust Fund pursuant to the Trust Agreement).
Appears in 13 contracts
Samples: Subservicing Agreement (BNC Mortgage Loan Trust 2006-2), Subservicing Agreement (Sasco 2006-Bc2), Subservicing Agreement (Structured Asset Investment Loan Trust 2006-1)
Intended Third Party Beneficiaries. Notwithstanding any provision herein to the contrary, the parties to this Agreement agree that it is appropriate, in furtherance of the intent of such parties as set forth herein, that the Trustee, the Master Servicer Servicer, the Depositor and the Depositor Trust Fund receive the benefit of the provisions (but not the obligations or duties) of this Agreement as intended third party beneficiaries of this Agreement to the extent of such provisions. The Special Servicer shall have the same obligations to the Trustee, the Master Servicer Servicer, the Depositor and the Depositor Trust Fund as if they were parties to this Agreement, and the Trustee, the Master Servicer Servicer, the Depositor and the Depositor Trust Fund shall have the same rights and remedies to enforce the provisions of this Agreement as if it was a party they were parties to this Agreement. The Special Servicer shall only take direction from the Master Servicer (if direction by the Master Servicer is required under this Agreement) unless otherwise directed by this Agreement. Notwithstanding the foregoing, all rights and obligations of the Trustee, the Master Servicer, the Depositor and the Master Servicer Trust Fund hereunder (other than the right to indemnification) shall terminate upon termination of the termination Trust Agreement and of the Trust Fund pursuant to the Trust Agreement).
Appears in 3 contracts
Samples: Reconstituted Servicing Agreement (Lehman Mortgage Trust 2006-6), Reconstituted Servicing Agreement (Lehman Mortgage Trust 2007-9), Reconstituted Servicing Agreement (Lehman Mortgage Trust 2007-5)
Intended Third Party Beneficiaries. Notwithstanding any provision herein to the contrary, the parties to this Agreement agree that it is appropriate, in furtherance of the intent of such parties as set forth herein, that the Trustee, the Master Servicer and the Depositor each receive the benefit of the provisions (but not the obligations or duties) of this Agreement as an intended third party beneficiaries beneficiary of this Agreement to the extent of such provisions. The Special Servicer shall have the same obligations to the Trustee, the Master Servicer and the Depositor as if they the Trustee, the Master Servicer and the Depositor were parties each a party to this Agreement, and the Trustee, the Master Servicer and the Depositor each shall have the same rights and remedies to enforce the provisions of this Agreement as if it was were a party to this Agreement. The Special Servicer shall only take direction from the Master Servicer (if direction by the Master Servicer is required under this Agreement) unless otherwise directed by this Agreement. Notwithstanding the foregoing, all rights and obligations of the Trustee, the Depositor Master Servicer and the Master Servicer Depositor hereunder (other than the right to indemnificationindemnification and the indemnification obligations, as applicable) shall terminate upon the termination of the Trust Fund pursuant to the Trust Pooling and Servicing Agreement).
Appears in 3 contracts
Samples: Confidentiality Agreement (Luminent 2006-5), Reconstituted Servicing Agreement (HarborView 2007-5), Reconstituted Servicing Agreement (Harborview 2006-6)
Intended Third Party Beneficiaries. Notwithstanding any provision herein to the contrary, the parties to this Agreement agree that it is appropriate, in furtherance of the intent of such parties as set forth herein, that the Trustee, the Master Servicer and the Depositor each receive the benefit of the provisions (but not the obligations or duties) of this Agreement as an intended third party beneficiaries beneficiary of this Agreement to the extent of such provisions. The Special Servicer Company shall have the same obligations to the Trustee, the Master Servicer and the Depositor as if they the Trustee, the Master Servicer and the Depositor were parties each a party to this Agreement, and the Trustee, the Master Servicer and the Depositor each shall have the same rights and remedies to enforce the provisions of this Agreement as if it was were a party to this Agreement. The Special Servicer Company shall only take direction directions from the Master Servicer (if direction by the Master Servicer is required under this Agreement) unless otherwise directed by this Agreement. Notwithstanding the foregoing, all rights and obligations of the Trustee, the Depositor Master Servicer and the Master Servicer Depositor hereunder (other than the right to indemnificationindemnification and the indemnification obligations, as applicable) shall terminate upon the termination of the Trust Fund pursuant to the Trust Pooling Agreement).
Appears in 3 contracts
Samples: Reconstituted Servicing Agreement (Luminent Mortgage Trust 2006-6), Reconstituted Servicing Agreement (Luminent Mortgage Trust 2006-7), Servicing Agreement (Luminent Mortgage Trust 2007-2)
Intended Third Party Beneficiaries. Notwithstanding any provision herein to the contrary, the parties to this Agreement agree that it is appropriate, in furtherance of the intent of such parties as set forth herein, that the Trustee, the Master Servicer and the Depositor each receive the benefit of the provisions (but not the obligations or duties) of this Agreement as an intended third party beneficiaries beneficiary of this Agreement to the extent of such provisions. The Special Servicer shall have the same obligations to the Trustee, the Master Servicer and the Depositor as if they the Trustee, the Master Servicer and the Depositor were parties each a party to this Agreement, and the Trustee, the Master Servicer and the Depositor each shall have the same rights and remedies to enforce the provisions of this Agreement as if it was were a party to this Agreement. The Special Servicer shall only take direction directions from the Master Servicer (if direction by the Master Servicer is required under this Agreement) unless otherwise directed by this Agreement. Notwithstanding the foregoing, all rights and obligations of the Trustee, the Depositor Master Servicer and the Master Servicer Depositor hereunder (other than the right to indemnificationindemnification and the indemnification obligations, as applicable) shall terminate upon the termination of the Trust Fund pursuant to the Trust Pooling and Servicing Agreement).
Appears in 3 contracts
Samples: Reconstituted Servicing Agreement (Luminent 2006-5), Reconstituted Servicing Agreement (Luminent Mortgage Trust 2007-2), Reconstituted Servicing Agreement (Luminent Mortgage Trust 2006-6)
Intended Third Party Beneficiaries. Notwithstanding any provision herein to the contrary, the parties to this Agreement agree that it is appropriate, in furtherance of the intent of such parties as set forth herein, that the TrusteeTrust Fund, the Master Servicer Servicer, the Depositor and the Depositor Trustee receive the benefit of the provisions (but not the obligations or duties) of this Agreement as intended third party beneficiaries of this Agreement to the extent of such provisions. The Special Servicer shall have the same obligations to the TrusteeTrust Fund, the Master Servicer Servicer, the Depositor and the Depositor Trustee as if they were parties to this Agreement, and the TrusteeTrust Fund, the Master Servicer Servicer, the Depositor and the Depositor Trustee shall have the same rights and remedies to enforce the provisions of this Agreement as if it was a party they were parties to this Agreement. The Special Servicer shall only take direction from the Master Servicer (if direction by the Master Servicer is required under this Agreement) unless otherwise directed by this Agreement. Notwithstanding the foregoing, all rights and obligations of the TrusteeTrust Fund, the Master Servicer, the Depositor and the Master Servicer Trustee hereunder (other than the right to indemnification) shall terminate upon termination of the termination Pooling and Servicing Agreement and of the Trust Fund pursuant to the Trust Pooling and Servicing Agreement).
Appears in 2 contracts
Samples: Servicing Agreement (HASCO Trust 2007-He2), Servicing Agreement (HSI Asset Securitization CORP Trust 2007-Nc1)
Intended Third Party Beneficiaries. Notwithstanding any provision herein to the contrary, the parties to this Agreement agree that it is appropriate, in furtherance of the intent of such parties as set forth herein, that the TrusteeTrust Fund, the Depositor, the Master Servicer and the Depositor Trustee receive the benefit of the provisions (but not the obligations or duties) of this Agreement as intended third party beneficiaries of this Agreement to the extent of such provisions. The Special Servicer shall have the same obligations to the TrusteeTrust Fund, the Depositor, the Master Servicer and the Depositor Trustee as if they were parties to this Agreement, and the TrusteeTrust Fund, the Depositor, the Master Servicer and the Depositor Trustee shall have the same rights and remedies to enforce the provisions of this Agreement as if it was a party they were parties to this Agreement. The Special Servicer shall only take direction from the Master Servicer (if direction by the Master Servicer is required under this Agreement) unless otherwise directed by this Agreement. Notwithstanding the foregoing, all rights and obligations of the TrusteeTrust Fund, the Depositor and Depositor, the Master Servicer and the Trustee hereunder (other than the right to indemnification) shall terminate upon termination of the termination Pooling and Servicing Agreement and of the Trust Fund pursuant to the Trust Pooling and Servicing Agreement).
Appears in 2 contracts
Samples: Reconstituted Servicing Agreement (RBSGC Mortgage Loan Trust 2007-B), Reconstituted Servicing Agreement (RBSGC Mortgage Loan Trust 2007-B)
Intended Third Party Beneficiaries. Notwithstanding any provision herein to the contrary, the parties to this Agreement agree that it is appropriate, in furtherance of the intent of such parties as set forth herein, that the Trustee, the Master Servicer and the Depositor each receive the benefit of the provisions (but not the obligations or duties) of this Agreement as an intended third party beneficiaries beneficiary of this Agreement to the extent of such provisions. The Special Servicer shall have the same obligations to the Trustee, the Master Servicer and the Depositor as if they the Trustee, the Master Servicer and the Depositor were parties each a party to this Agreement, and the Trustee, the Master Servicer and the Depositor each shall have the same rights and remedies to enforce the provisions of this Agreement as if it was were a party to this Agreement. The Special Servicer shall only take direction directions from the Master Servicer (if direction by the Master Servicer is required under this Agreement) unless otherwise directed by this Agreement. Notwithstanding the foregoing, all rights and obligations of the Trustee, the Depositor Master Servicer and the Master Servicer Depositor hereunder (other than the right to indemnificationindemnification and the indemnification obligations, as applicable) shall terminate upon the termination of the Trust Fund pursuant to the Trust Pooling Agreement).
Appears in 2 contracts
Samples: Reconstituted Servicing Agreement (Luminent Mortgage Trust 2006-6), Reconstituted Servicing Agreement (Luminent Mortgage Trust 2006-6)
Intended Third Party Beneficiaries. Notwithstanding any provision herein to the contrary, the parties to this Agreement agree that it is appropriate, in furtherance of the intent of such parties as set forth herein, that the TrusteeTrust Fund, Master Servicer, the Master Servicer Depositor and the Depositor Trustee receive the benefit of the provisions (but not the obligations or duties) of this Agreement as intended third party beneficiaries of this Agreement to the extent of such provisions. The Special Servicer Company shall have the same obligations to the TrusteeTrust Fund, the Master Servicer Servicer, the Depositor and the Depositor Trustee as if they were parties to this Agreement, and the TrusteeTrust Fund, the Master Servicer Servicer, the Depositor and the Depositor Trustee shall have the same rights and remedies to enforce the provisions of this Agreement as if it was a party they were parties to this Agreement. The Special Servicer Company shall only take direction from the Master Servicer (if direction by the Master Servicer is required under this Agreement) unless otherwise directed by this Agreement. Notwithstanding the foregoing, all rights and obligations of the TrusteeTrust Fund, the Master Servicer, the Depositor and the Master Servicer Trustee hereunder (other than the right to indemnification) shall terminate upon termination of the termination Trust Agreement and of the Trust Fund pursuant to the Trust Agreement).
Appears in 2 contracts
Samples: Reconstituted Servicing Agreement (LXS 2007-3), Reconstituted Servicing Agreement (Lehman XS Trust 2006-17)
Intended Third Party Beneficiaries. Notwithstanding any provision herein to the contrary, the parties to this Agreement agree that it is appropriate, in furtherance of the intent of such parties as set forth herein, that the TrusteeTrust Fund, Master Servicer, the Master Servicer Depositor and the Depositor Trustee receive the benefit of the provisions (but not the obligations or duties) of this Agreement as intended third party beneficiaries of this Agreement to the extent of such provisions. The Special Servicer Company shall have the same obligations to the TrusteeTrust Fund, the Master Servicer Servicer, the Depositor and the Depositor Trustee as if they were parties to this Agreement, and the TrusteeTrust Fund, the Master Servicer Servicer, the Depositor and the Depositor Trustee shall have the same rights and remedies to enforce the provisions of this Agreement as if it was a party they were parties to this Agreement. The Special Servicer Company shall only take direction from the Master Servicer (if direction by the Master Servicer is required under this Agreement) unless otherwise directed by this Agreement. Notwithstanding the foregoing, all rights and obligations of the TrusteeTrust Fund, the Master Servicer, the Depositor and the Master Servicer Trustee hereunder (other than the right to indemnification) shall terminate upon termination of the termination Trust Agreement and of the Trust Fund pursuant to the Trust Agreement). 50. Exhibit D-3 (Form of Loan Loss Report) is hereby added to the Master SWSA.
Appears in 1 contract
Samples: Reconstituted Servicing Agreement (Lehman XS Trust 2007-1)
Intended Third Party Beneficiaries. Notwithstanding any provision herein to the contrary, the parties to this Agreement agree that it is appropriate, in furtherance of the intent of such parties as set forth herein, that the TrusteeTrust Fund, Master Servicer, the Master Servicer Depositor and the Depositor Trustee receive the benefit of the provisions (but not the obligations or duties) of this Agreement as intended third party beneficiaries of this Agreement to the extent of such provisions. The Special Servicer shall have the same obligations to the TrusteeTrust Fund, the Master Servicer Servicer, the Depositor and the Depositor Trustee as if they were parties to this Agreement, and the TrusteeTrust Fund, the Master Servicer Servicer, the Depositor and the Depositor Trustee shall have the same rights and remedies to enforce the provisions of this Agreement as if it was a party they were parties to this Agreement. The Special Servicer shall only take direction from the Master Servicer (if direction by the Master Servicer is required under this Agreement) unless otherwise directed by this Agreement. Notwithstanding the foregoing, all rights and obligations of the TrusteeTrust Fund, the Master Servicer, the Depositor and the Master Servicer Trustee hereunder (other than the right to indemnification) shall terminate upon termination of the termination Trust Agreement and of the Trust Fund pursuant to the Trust Agreement). 49. Exhibit L (Transaction Parties) is hereby added to the SWSA.
Appears in 1 contract
Samples: Reconstituted Servicing Agreement (Structured Adjustable Rate Mortgage Loan Trust Series 2006-6)
Intended Third Party Beneficiaries. Notwithstanding any provision herein to the contrary, the parties to this Agreement agree that it is appropriate, in furtherance of the intent of such parties as set forth herein, that the Trustee, the Master Servicer Securities Administrator and the Depositor receive the benefit of the provisions (but not the obligations or duties) of this Agreement as intended third party beneficiaries of this Agreement to the extent of such provisions. The Special Servicer shall have the same obligations to the Trustee, the Master Servicer Securities Administrator and the Depositor as if they were parties to this Agreement, and the Trustee, the Master Servicer Securities Administrator and the Depositor shall have the same rights and remedies to enforce the provisions of this Agreement as if it was a party they were parties to this Agreement. The Special Servicer shall only take direction from the Master Servicer (if direction by the Master Servicer is required under this Agreement) unless otherwise directed by this Agreement or the Credit Risk Management Agreement. Notwithstanding the foregoing, all rights of the Securities Administrator, the Depositor (other than the right to indemnification) and all rights and obligations of the Trustee, the Depositor and the Master Servicer hereunder (other than the right to indemnification) shall terminate upon the termination of the Trust Fund pursuant to the Trust Agreement).
Appears in 1 contract
Samples: Securitization Subservicing Agreement (BNC Mortgage Loan Trust 2007-1)
Intended Third Party Beneficiaries. Exhibit One-7 Notwithstanding any provision herein to the contrary, the parties to this Agreement agree that it is appropriate, in furtherance of the intent of such parties as set forth herein, that the Trustee, the Master Servicer and the Depositor each receive the benefit of the provisions (but not the obligations or duties) of this Agreement as an intended third party beneficiaries beneficiary of this Agreement to the extent of such provisions. The Special Servicer Company shall have the same obligations to the Trustee, the Master Servicer and the Depositor as if they the Trustee, the Master Servicer and the Depositor were parties each a party to this Agreement, and the Trustee, the Master Servicer and the Depositor each shall have the same rights and remedies to enforce the provisions of this Agreement as if it was were a party to this Agreement. The Special Servicer Company shall only take direction directions from the Master Servicer (if direction by the Master Servicer is required under this Agreement) unless otherwise directed by this Agreement. Notwithstanding the foregoing, all rights and obligations of the Trustee, the Depositor Master Servicer and the Master Servicer Depositor hereunder (other than the right to indemnificationindemnification and the indemnification obligations, as applicable) shall terminate upon the termination of the Trust Fund pursuant to the Trust Pooling Agreement).
Appears in 1 contract
Samples: Reconstituted Servicing Agreement (Luminent Mortgage Trust 2007-1)
Intended Third Party Beneficiaries. Notwithstanding any provision herein to the contrary, the parties to this Agreement agree that it is appropriate, in furtherance of the intent of such parties as set forth herein, that the Trustee, the Master Servicer and the Depositor each receive the benefit of the provisions (but not the obligations or duties) of this Agreement as an intended third party beneficiaries beneficiary of this Agreement to the extent of such provisions. The Special Servicer shall have the same obligations to the Trustee, the Master Servicer and the Depositor as if they the Trustee, the Master Servicer and the Depositor were parties each a party to this Agreement, and the Trustee, the Master Servicer and the Depositor each shall have the same rights and remedies to enforce the provisions of this Agreement as if it was were a party to this Agreement. The Special Servicer Company shall only take direction directions from the Master Servicer (if direction by the Master Servicer is required under this Agreement) unless otherwise directed by this Agreement. Schedule A-10 Notwithstanding the foregoing, all rights and obligations of the Trustee, the Depositor Master Servicer and the Master Servicer Depositor hereunder (other than the right to indemnificationindemnification and the indemnification obligations, as applicable) shall terminate upon the termination of the Trust Fund pursuant to the Trust Pooling Agreement).
Appears in 1 contract
Samples: Reconstituted Servicing Agreement (Luminent Mortgage Trust 2007-2)
Intended Third Party Beneficiaries. Notwithstanding any provision herein to the contrary, the parties to this Agreement agree that it is appropriate, in furtherance of the intent of such parties as set forth herein, that the Trustee, the Master Servicer Trustee and the Depositor receive the benefit of the provisions (but not the obligations or duties) of this Agreement as intended third party beneficiaries of this Agreement to the extent of such provisions. The Special Servicer shall have the same obligations to the Trustee, the Master Servicer Trustee and the Depositor as if they were parties to this Agreement, and the Trustee, Trustee (acting through the Master Servicer and Servicer), the Depositor shall have the same rights and remedies to enforce the provisions of this Agreement as if it was a party they were parties to this Agreement. The Special Servicer shall only take direction from the Master Servicer (if direction by the Master Servicer is required under this Agreement) unless otherwise directed by this Agreement or the Credit Risk Management Agreement. Notwithstanding the foregoing, all rights of the Trustee and the Depositor hereunder (other than the right to indemnification) and all rights and obligations of the Trustee, the Depositor Master Servicer and the Master Servicer hereunder (other than the right to indemnification) shall terminate upon the termination of the Trust Fund pursuant to the Trust Agreement).
Appears in 1 contract
Samples: Servicing Agreement (Sasco 2006-S4)
Intended Third Party Beneficiaries. Notwithstanding any provision herein to the contrary, the parties to this Agreement agree that it is appropriate, in furtherance of the intent of such parties as set forth herein, that the Trustee, the Master Servicer Trustee and the Depositor receive the benefit of the provisions (but not the obligations or duties) of this Agreement as intended third party beneficiaries of this Agreement to the extent of such provisions. The Special Servicer shall have the same obligations to the Trustee, the Master Servicer Trustee and the Depositor as if they were parties to this Agreement, and the Trustee, the Master Servicer Trustee and the Depositor shall have the same rights and remedies to enforce the provisions of this Agreement as if it was a party they were parties to this Agreement. The Special Servicer shall only take direction from the Master Servicer (if direction by the Master Servicer is required under this Agreement) unless otherwise directed by this Agreement or the Credit Risk Manager Agreement. Notwithstanding the foregoing, all rights of the Trustee and the Depositor (other than the right to indemnification) and all rights and obligations of the Trustee, the Depositor and the Master Servicer hereunder (other than the right to indemnification) shall terminate upon the termination of the Trust Fund pursuant to the Trust Agreement).
Appears in 1 contract
Intended Third Party Beneficiaries. Notwithstanding any provision herein to the contrary, the parties to this Agreement agree that it is appropriate, in furtherance of the intent of such parties as set forth herein, that the TrusteeTrust Fund, Master Servicer, the Master Servicer Depositor and the Depositor Trustee receive the benefit of the provisions (but not the obligations or duties) of this Agreement as intended third party beneficiaries of this Agreement to the extent of such provisions. The Special Servicer shall have the same obligations to the TrusteeTrust Fund, the Master Servicer Servicer, the Depositor and the Depositor Trustee as if they were parties to this Agreement, and the TrusteeTrust Fund, the Master Servicer Servicer, the Depositor and the Depositor Trustee shall have the same rights and remedies to enforce the provisions of this Agreement as if it was a party they were parties to this Agreement. The Special Servicer shall only take direction from the Master Servicer (if direction by the Master Servicer is required under this Agreement) unless otherwise directed by this Agreement. Notwithstanding the foregoing, all rights and obligations of the TrusteeTrust Fund, the Master Servicer, the Depositor and the Master Servicer Trustee hereunder (other than the right to indemnification) shall terminate upon termination of the termination Pooling and Servicing Agreement and of the Trust Fund pursuant to the Trust Pooling and Servicing Agreement).
Appears in 1 contract
Samples: Reconstituted Servicing Agreement (HSI Asset Securitization CORP Trust 2006-He1)
Intended Third Party Beneficiaries. Notwithstanding any provision herein to the contrary, the parties to this Agreement agree that it is appropriate, in furtherance of the intent of such parties as set forth herein, that the Trustee, the Master Servicer Trustee and the Depositor receive the benefit of the provisions (but not the obligations or duties) of this Agreement as intended third party beneficiaries of this Agreement to the extent of such provisions. The Special Servicer shall have the same obligations to the Trustee, the Master Servicer Trustee and the Depositor as if they were parties to this Agreement, and the Trustee, the Master Servicer Trustee and the Depositor shall have the same rights and remedies to enforce the provisions of this Agreement as if it was a party they were parties to this Agreement. The Special Servicer shall only take direction from the Master Servicer (if direction by the Master Servicer is required under this Agreement) unless otherwise directed by this Agreement or the Credit Risk Management Agreement. Notwithstanding the foregoing, all rights and obligations of the Trustee, the Depositor (other than the right to indemnification) and all rights and obligations of the Master Servicer hereunder (other than the right to indemnification) shall terminate upon the termination of the Trust Fund pursuant to the Trust Agreement).
Appears in 1 contract
Samples: Securitization Subservicing Agreement (Sasco 2007-Bnc1)
Intended Third Party Beneficiaries. Notwithstanding any provision herein to the contrary, the parties to this Agreement agree that it is appropriate, in furtherance of the intent of such parties as set forth herein, that the Trustee, the Master Servicer Trustee and the Depositor receive the benefit of the provisions (but not the obligations or duties) of this Agreement as intended third party beneficiaries of this Agreement to the extent of such provisions. The Special Servicer shall have the same obligations to the Trustee, the Master Servicer Trustee and the Depositor as if they were parties to this Agreement, and the Trustee, the Master Servicer Trustee and the Depositor shall have the same rights and remedies to enforce the provisions of this Agreement as if it was a party they were parties to this Agreement. The Special Servicer shall only take direction from the Master Servicer (if direction by the Master Servicer is required under this Agreement) unless otherwise directed by this Agreement or the Credit Risk Manager Agreement. Notwithstanding the foregoing, all rights and obligations of the Trustee, the Depositor (other than the right to indemnification) and all rights and obligations of the Master Servicer hereunder (other than the right to indemnification) shall terminate upon the termination of the Trust Fund pursuant to the Trust Agreement).
Appears in 1 contract
Samples: Subservicing Agreement (BNC Mortgage Loan Trust 2006-1)
Intended Third Party Beneficiaries. Notwithstanding any provision herein to the contrary, the parties to this Agreement agree that it is appropriate, in furtherance of the intent of such parties as set forth herein, that the Trustee, the Master Servicer Trustee and the Depositor receive the benefit of the provisions (but not the obligations or duties) of this Agreement as intended third party beneficiaries of this Agreement to the extent of such provisions. The Special Servicer shall have the same obligations to the Trustee, the Master Servicer Trustee and the Depositor as if they were parties to this Agreement, and the Trustee, Trustee (acting through the Master Servicer Servicer) and the Depositor shall have the same rights and remedies to enforce the provisions of this Agreement as if it was a party they were parties to this Agreement. The Special Servicer shall only take direction from the Master Servicer (if direction by the Master Servicer is required under this Agreement) unless otherwise directed by this Agreement or the Credit Risk Management Agreement. Notwithstanding the foregoing, all rights of the Trustee and the Depositor hereunder (other than the right to indemnification) and all rights and obligations of the Trustee, the Depositor and the Master Servicer hereunder (other than the right to indemnification) shall terminate upon the termination of the Trust Fund pursuant to the Trust Agreement).
Appears in 1 contract
Intended Third Party Beneficiaries. Notwithstanding any provision herein to the contrary, the parties to this Agreement agree that it is appropriate, in furtherance of the intent of such parties as set forth herein, that the Trustee, the Master Servicer and the Depositor each receive the benefit of the provisions (but not the obligations or duties) of this Agreement as an intended third party beneficiaries beneficiary of this Agreement to the extent of such provisions. The Special Servicer shall have the same obligations to the Trustee, the Master Servicer and the Depositor as if they the Trustee, the Master Servicer and the Depositor were parties each a party to this Agreement, and the Trustee, the Master Servicer and the Depositor each shall have the same rights and remedies to enforce the provisions of this Agreement as if it was were a party to this Agreement. The Special Servicer shall only take direction directions from the Master Servicer (if direction by the Master Servicer is required under this Agreement) unless otherwise directed by this Agreement. Notwithstanding the foregoing, all rights and obligations of the Trustee, the Depositor Master Servicer and the Master Servicer Depositor hereunder (other than the right to indemnificationindemnification and the indemnification obligations, as applicable) shall Schedule A-12 terminate upon the termination of the Trust Fund pursuant to the Trust Pooling Agreement).
Appears in 1 contract
Samples: Reconstituted Servicing Agreement (Luminent Mortgage Trust 2006-7)