Common use of Master Servicer to Pay Custodian's Fees and Expenses Clause in Contracts

Master Servicer to Pay Custodian's Fees and Expenses. The Master Servicer covenants and agrees to pay to the Custodian from time to time, and the Custodian shall be entitled to, reasonable compensation for all services rendered by it in the exercise and performance of any of the powers and duties hereunder of the Custodian, and the Master Servicer will pay or reimburse the Custodian upon its request for all reasonable expenses, disbursements and advances incurred or made by the Custodian in accordance with any of the provisions of this Agreement (including the reasonable compensation and the expenses and disbursements of its counsel and of all persons not regularly in its employ), except any such expense, disbursement or advance as may arise from its negligence or bad faith. The Master Servicer's obligations regarding payments due to the Custodian pursuant to this Section 3.4 shall survive the termination of this Agreement with respect to any fees and expenses due hereunder.

Appears in 19 contracts

Samples: Pooling and Servicing Agreement (Wells Fargo Mortgage Backed Securities 2008 -1 Trust), Pooling and Servicing Agreement (Wells Fargo Mortgage Backed Securities 2007-4 Trust), Pooling and Servicing Agreement (Wells Fargo Alternative Loan 2007-Pa2 Trust)

AutoNDA by SimpleDocs

Master Servicer to Pay Custodian's Fees and Expenses. The Master Servicer covenants and agrees to pay to the Custodian from time to time, and the Custodian shall be entitled to, reasonable compensation for all services rendered by it in the exercise and performance of any of the powers and duties hereunder of the Custodian, and the Master Servicer will pay or reimburse the Custodian upon its request for all reasonable expenses, disbursements and advances incurred or made by the Custodian in accordance with any of the provisions of this Agreement (including the reasonable compensation and the expenses and disbursements of its counsel and of all persons not regularly in its employ), except any such expense, disbursement or advance as may arise from its negligence or bad faith. The Master Servicer's obligations regarding payments due to ; provided, however, that if the Trustee has removed the Custodian pursuant to this in accordance with Section 3.4 3.5, the Trustee and not the Master Servicer shall survive bear the termination of this Agreement with respect to any fees and expenses due hereunderforegoing compensation obligations.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Banc of America Funding Corp. Mortgage Pass-Through Certificates Series 2004-3), Pooling and Servicing Agreement (Banc of America Funding Corp. Mortgage Pass-Through Certificates Series 2004-D)

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