Mutilated, Destroyed, Lost or Stolen Grantor Trust Certificate. If (i) any mutilated Grantor Trust Certificate is surrendered to the Grantor Trust Certificate Registrar, or the Grantor Trustee and the Grantor Trust Certificate Registrar receive evidence to their satisfaction of the destruction, loss or theft of the Grantor Trust Certificate, and (ii) there is delivered to the Grantor Trustee and the Grantor Trust Certificate Registrar such security or indemnity as may be required by them to hold each of them harmless, then, in the absence of notice to the Grantor Trustee or the Grantor Trust Certificate Registrar that the Grantor Trust Certificate has been acquired by a bona fide purchaser, the Grantor Trustee shall execute and the Grantor Trust Certificate Registrar shall authenticate and deliver, in exchange for or in lieu of any such mutilated, destroyed, lost or stolen Grantor Trust Certificate, a new Grantor Trust Certificate of like tenor and Certificate Percentage Interest but bearing a number not contemporaneously outstanding. Upon the issuance of any new Grantor Trust Certificate under this Section, the Grantor Trust Certificate Registrar may require the payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other expenses (including the fees and expenses of the Grantor Trustee and the Grantor Trust Certificate Registrar) connected therewith. Any duplicate Grantor Trust Certificate issued pursuant to this Section shall constitute complete and indefeasible evidence of ownership interest in the Grantor Trust, as if originally issued, whether or not the lost, stolen or destroyed Grantor Trust Certificate shall be found at any time.
Appears in 4 contracts
Samples: Grantor Trust Agreement (Bear Stearns Arm Trust, Mortgage-Backed Notes, Series 2005-5), Grantor Trust Agreement (Bear Stearns Arm Trust, Mortgage-Backed Notes, Series 2005-5), Loan Purchase Agreement (Bear Stearns Arm Trust, Mortgage-Backed Notes, Series 2005-2)
Mutilated, Destroyed, Lost or Stolen Grantor Trust Certificate. If (i) any mutilated the Grantor Trust Certificate is surrendered to the Grantor Trust Certificate Registrar, Trustee or the Authenticating Agent as mutilated or the Grantor Trustee and or the Grantor Trust Certificate Registrar receive Authenticating Agent receives evidence to their its satisfaction of the destruction, loss or theft of the Grantor Trust Certificate, and (ii) there is delivered to the Grantor Trustee and the Grantor Trust Certificate Registrar or Authenticating Agent such security or indemnity as may be required by them to hold each of them harmless, then, in the absence of notice to the Grantor Trustee or the Grantor Trust Certificate Registrar Authenticating Agent that the Grantor Trust Certificate has been acquired by a bona fide purchaser, the Grantor Trustee shall execute and authenticate (or cause the Grantor Trust Certificate Registrar shall authenticate Authenticating Agent to authenticate) and deliver, in exchange for or in lieu of any such mutilated, destroyed, lost or stolen Grantor Trust Certificate, a new Grantor Trust Certificate of like tenor and Certificate 100% Percentage Interest but bearing a number not contemporaneously outstandingInterest. Upon the issuance of any a new Grantor Trust Certificate under this Section, the Grantor Trust Trustee or the Certificate Registrar may require from the Grantor Trust Holder the payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other expenses expense (including the fees and expenses of the Grantor Trustee and or Authenticating Agent) in connection therewith. Unless a bona fide purchaser of the original Grantor Trust Certificate Registrar) connected therewith. Any presents such Grantor Trust Certificate, any duplicate Grantor Trust Certificate issued pursuant to this Section shall constitute complete and indefeasible evidence of ownership interest in the Grantor Trust, as if originally issued, whether or not the lost, stolen stolen, or destroyed Grantor Trust Certificate shall be found at any time.
Appears in 2 contracts
Samples: Grantor Trust Agreement (Empire Funding Home Loan Owner Trust 1997-5), Grantor Trust Agreement (Empire Funding Home Loan Owner Trust 1998-1)
Mutilated, Destroyed, Lost or Stolen Grantor Trust Certificate. If (i) any mutilated Grantor Trust Certificate is surrendered to the Grantor Trust Certificate Registrar, or the Grantor Trustee and the Grantor Trust Certificate Registrar receive evidence to their satisfaction of the destruction, loss or theft of the Grantor Trust Certificate, and (ii) there is delivered to the Grantor Trustee and the Grantor Trust Certificate Registrar such security or indemnity as may be required by them to hold save each of them harmless, then, in the absence of notice to the Grantor Trustee or the Grantor Trust Certificate Registrar that the Grantor Trust Certificate has been acquired by a bona fide purchaser, the Grantor Trustee shall execute and the Grantor Trust Certificate Registrar shall authenticate and deliver, in exchange for or in lieu of any such mutilated, destroyed, lost or stolen Grantor Trust Certificate, a new Grantor Trust Certificate of like tenor and Certificate Percentage Interest but bearing a number not contemporaneously outstanding. Upon the issuance of any new Grantor Trust Certificate under this Section, the Grantor Trust Certificate Registrar Trustee may require the payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other expenses (including the fees and expenses of the Grantor Trustee and the Grantor Trust Certificate Registrar) connected therewith. Any duplicate Grantor Trust Certificate issued pursuant to this Section shall constitute complete and indefeasible evidence of ownership interest in the Grantor TrustTrust Fund, as if originally issued, whether or not the lost, stolen or destroyed Grantor Trust Certificate shall be found at any time.
Appears in 1 contract
Samples: Grantor Trust Agreement (Residential Funding Mortgage Securities Ii Inc)
Mutilated, Destroyed, Lost or Stolen Grantor Trust Certificate. If (i) any mutilated Grantor Trust Certificate is surrendered to the Grantor Trust Certificate Registrar, or the Grantor Trustee and the Grantor Trust Certificate Registrar receive evidence to their satisfaction of the destruction, loss or theft of the Grantor Trust Certificate, and (ii) there is delivered to the Grantor Trustee and the Grantor Trust Certificate Registrar such security or indemnity as may be required by them to hold each of them harmless, then, in the absence of notice to the Grantor Trustee or the Grantor Trust Certificate Registrar that the Grantor Trust Certificate has been acquired by a bona fide purchaser, the Grantor Trustee shall execute and the Grantor Trust Certificate Registrar shall authenticate and deliver, in exchange for or in lieu of any such mutilated, destroyed, lost or stolen Grantor Trust Certificate, a new Grantor Trust Certificate of like tenor and Certificate Percentage Interest but bearing a number not contemporaneously outstanding. Upon the issuance of any new Grantor Trust Certificate under this Section, the Grantor Trust Certificate Registrar Trustee may require the payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other expenses (including the fees and expenses of the Grantor Trustee and the Grantor Trust Certificate Registrar) connected therewith. Any duplicate Grantor Trust Certificate issued pursuant to this Section shall constitute complete and indefeasible evidence of ownership interest in the Grantor TrustTrust Fund, as if originally issued, whether or not the lost, stolen or destroyed Grantor Trust Certificate shall be found at any time.
Appears in 1 contract
Samples: Grantor Trust Agreement (Residential Funding Mortgage Securities Ii Inc)