Common use of No Action Except Under Specified Documents or Instructions Clause in Contracts

No Action Except Under Specified Documents or Instructions. The Owner Trustee shall not manage, control, use, sell, dispose of or otherwise deal with any part of the Owner Trust Estate except (i) in accordance with the powers granted to and the authority conferred upon the Owner Trustee pursuant to this Agreement, (ii) in accordance with the Transaction Documents and (iii) in accordance with any document or instruction delivered to the Owner Trustee pursuant to Section 6.3 above. The Owner Trustee shall not be required to take any action under this Agreement if the Owner Trustee shall reasonably determine or shall have been advised by counsel that such action is contrary to the terms of this Agreement or is otherwise contrary to law.

Appears in 16 contracts

Samples: Trust Agreement (Household Mortgage Loan Trust 2003-Hc1), Trust Agreement (HSBC Home Equity Loan Corp I), Trust Agreement (Household Mortgage Loan Trust 2003-Hc2)

AutoNDA by SimpleDocs

No Action Except Under Specified Documents or Instructions. The Owner Trustee shall not manage, control, use, sell, dispose of or otherwise deal with any part of the Owner Trust Estate Series Assets except (i) in accordance with the powers granted to and the authority conferred upon the Owner Trustee pursuant to this AgreementAgreement or the applicable Series Supplement, (ii) in accordance with the Transaction Documents and (iii) in accordance with any document or instruction delivered to the Owner Trustee pursuant to Section 6.3 5.1(c), (h) or (i) above. The Owner Trustee shall not be required to take any action under this Agreement if the Owner Trustee shall reasonably determine or shall have been advised by counsel that such action is contrary to the terms of this Agreement or Agreement, is otherwise contrary to lawlaw or if the Trustee is not assured of reasonable indemnity in connection with such action.

Appears in 1 contract

Samples: Trust Agreement (AIP Alternative Lending Fund A)

No Action Except Under Specified Documents or Instructions. The Owner Trustee shall not manage, control, use, sell, dispose of or otherwise deal with any part of the Owner Trust Estate except (i) in accordance with the powers granted to and the authority conferred upon the Owner Trustee pursuant to this Agreement, (ii) in accordance with the Transaction Program Documents and (iii) in accordance with any document or instruction delivered to the Owner Trustee pursuant to Section 6.3 above. The Owner Trustee shall not be required to take any action under this Agreement if the Owner Trustee shall reasonably determine or shall have been advised by counsel that such action is contrary to the terms of this Agreement or is otherwise contrary to law.

Appears in 1 contract

Samples: Trust Agreement (New Century Financial Corp)

AutoNDA by SimpleDocs

No Action Except Under Specified Documents or Instructions. The Owner Trustee shall not manage, control, use, sell, dispose of or otherwise deal with any part of the Owner Trust Estate except (i) in accordance with the powers granted to and the authority conferred upon the Owner Trustee pursuant to this Agreement, (ii) in accordance with the 16 Transaction Documents and (iii) in accordance with any document or instruction delivered to the Owner Trustee pursuant to Section 6.3 above. The Owner Trustee shall not be required to take any action under this Agreement if the Owner Trustee shall reasonably determine or shall have been advised by counsel that such action is contrary to the terms of this Agreement or is otherwise contrary to law...

Appears in 1 contract

Samples: Trust Agreement (Household Mortgage Loan Trust 2002 Hc1)

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