Common use of Limitation on Liability of the Depositor, the Servicer and Others Clause in Contracts

Limitation on Liability of the Depositor, the Servicer and Others. Neither the Depositor, the Servicer, the Special Servicer nor any of the directors, officers, employees or agents of the Depositor or the Servicer or the Special Servicer shall be under any liability to the Trust Fund or the Certificateholders for any action taken, or for refraining from the taking of any action, in good faith pursuant to this Agreement, or for errors in judgment; provided, however, that this provision shall not protect the Depositor or the Servicer or the Special Servicer or any such Person against any breach of warranties or representations made herein, or against any specific liability imposed on the Servicer or the Special Servicer, or against any liability which would otherwise be imposed by reason of willful misconduct, bad faith, fraud or negligence in the performance of duties or by reason of reckless disregard of obligations or duties hereunder. The Depositor, the Servicer, the Special Servicer and any director, officer, employee or agent of the Depositor, the Servicer or the Special Servicer may rely in good faith on any document of any kind which, prima facie, is properly executed and submitted by any appropriate Person respecting any matters arising hereunder. The Depositor,

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Asset Securitization Corp Com Mor Pass THR Cer Ser 1997 Md)

AutoNDA by SimpleDocs

Limitation on Liability of the Depositor, the Servicer and Others. Neither None of the Depositor, the Servicer, the Special Servicer nor or any of the directors, officers, employees or agents of the Depositor or the Servicer or the Special Servicer shall be under any liability to the Trust Fund or the Certificateholders for any action taken, taken or for refraining from the taking of any action, action in good faith pursuant to this Agreement, or for errors in judgment; provided, however, that this provision shall not protect the Depositor or Depositor, the Servicer or the Special Servicer or any such Person person against any breach of warranties warranties, representations or representations covenants made herein, or against any specific liability imposed on the Servicer or the Special Servicerpursuant hereto, or against any liability which would otherwise be imposed by reason of willful misconductmisfeasance, bad faith, fraud faith or negligence in the performance of duties or by reason of reckless disregard of obligations or and duties hereunder. The Depositor, the Servicer, the Special Servicer and any director, officer, employee or agent of the Depositor, the Servicer Depositor or the Special Servicer may rely in good faith on any document of any kind which, prima faciePRIMA FACIE, is properly executed and submitted by any appropriate Person respecting any matters arising hereunder. The Depositor,112

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Citigroup Mortgage Loan Trust Series 2004-Hyb1)

AutoNDA by SimpleDocs
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!