No Duties Except as Specified under Specified Documents or in Instructions. The Owner Trustee shall not have any duty or obligation to manage, make any payment with respect to, register, record, sell, dispose of, or otherwise deal with the Trust Estate, or to otherwise take or refrain from taking any action under, or in connection with, any document contemplated hereby to which the Owner Trustee or the Trust is a party, except as expressly provided (i) in accordance with the powers granted to and the authority conferred upon the Owner Trustee pursuant to this Agreement, and (ii) in accordance with any document or instruction delivered to the Owner Trustee pursuant to Section 5.03; and no implied duties or obligations shall be read into this Agreement or any Operative Agreement against the Owner Trustee. Without limiting the foregoing, unless specifically enumerated in any Operative Agreement to which the Owner Trustee is party, the Owner Trustee (i) shall have no duty or obligation to execute, file or deliver, or cause the preparation, filing or delivery by other persons of, any such documents, reports, filings, instruments, certificates or opinions as it shall be the duty of the Trust to prepare, file or deliver pursuant to the Operative Agreements, (ii) shall have no duty or obligation to take, or refrain from taking, any action that is the duty or the obligation of the Trust pursuant to the Operative Agreements and (iii) shall have no duty or obligation to monitor the Trust’s duties and obligations pursuant to the Operative Agreements nor ensure that such duties and obligations are fulfilled by the Trust. The Owner Trustee shall have no responsibility for filing any financing or continuation statement in any public office at any time or to otherwise perfect or maintain the perfection of any security interest or lien granted to the Trust or to prepare or file any Securities and Exchange Commission filing for the Trust or to record this Agreement or any Operative Agreement or to prepare or file any tax return for the Trust. The Owner Trustee nevertheless agrees that it will, at its own cost and expense, promptly take all action as may be necessary to discharge any liens on any part of the Trust Estate that result from actions by, or claims against the Bank that are not related to the ownership or the administration of the Trust Estate.
Appears in 16 contracts
Samples: Trust Agreement (Fieldstone Mortgage Investment CORP), Trust Agreement (NYMT Securities CORP), Trust Agreement (Fieldstone Mortgage Investment CORP)
No Duties Except as Specified under Specified Documents or in Instructions. The Owner Trustee shall not have any duty or obligation to manage, make any payment with respect to, register, record, sell, dispose of, or otherwise deal with the Owner Trust Estate, or to otherwise take or refrain from taking any action under, or in connection with, any document contemplated hereby to which the Owner Trustee or the Trust is a party, except as expressly provided (i) in accordance with the powers granted to and the authority conferred upon the Owner Trustee pursuant to this Trust Agreement, (ii) in accordance with the Basic Documents and (iiiii) in accordance with any document or instruction delivered to the Owner Trustee pursuant to Section 5.034.03; and no implied duties or obligations shall be read into this Trust Agreement or any Operative Agreement Basic Document against the Owner Trustee. Without limiting the foregoing, unless specifically enumerated in any Operative Agreement to which the Owner Trustee is party, the Owner Trustee (i) shall have no duty or obligation to execute, file or deliver, or cause the preparation, filing or delivery by other persons of, any such documents, reports, filings, instruments, certificates or opinions as it shall be the duty of the Trust to prepare, file or deliver pursuant to the Operative Agreements, (ii) shall have no duty or obligation to take, or refrain from taking, any action that is the duty or the obligation of the Trust pursuant to the Operative Agreements and (iii) shall have no duty or obligation to monitor the Trust’s duties and obligations pursuant to the Operative Agreements nor ensure that such duties and obligations are fulfilled by the Trust. The Owner Trustee shall have no responsibility for filing any financing or continuation statement in any public office at any time anytime or to otherwise perfect or maintain the perfection of any security interest or lien granted to the Trust it hereunder or to prepare or file any Securities and Exchange Commission filing for the Trust or to record this Trust Agreement or any Operative Agreement Basic Document. Notwithstanding any provision herein or in any other Basic Document, the Owner Trustee shall not be obligated to prepare prepare, file or file execute any tax return for documents or certifications required to be filed by the TrustTrust pursuant to the Sxxxxxxx-Xxxxx Act of 2002, as amended. The Owner Trustee nevertheless agrees that it will, at its own cost and expense, promptly take all action as may be necessary to discharge any liens on any part of the Owner Trust Estate that result from actions by, or claims against against, the Bank Owner Trustee that are not related to the ownership or the administration of the Owner Trust Estate.
Appears in 7 contracts
Samples: Trust Agreement (Newcastle Mortgage Securities Trust 2006-1, Asset-Backed Notes, Series 2006-1), Trust Agreement (New Century Home Equity Loan Trust 2006-1), Trust Agreement (New Century Home Equity Loan Trust 2006-2)
No Duties Except as Specified under Specified Documents or in Instructions. The Owner Trustee shall not have any duty or obligation to manage, make any payment with respect to, register, record, sell, dispose of, or otherwise deal with the Trust EstateCollateral, or to otherwise take or refrain from taking any action under, or in connection with, any document contemplated hereby to which the Owner Trustee or the Trust is a party, except as expressly provided (i) in accordance with the powers granted to and the authority conferred upon the Owner Trustee pursuant to this Trust Agreement, (ii) in accordance with the Basic Documents and (iiiii) in accordance with any document or instruction delivered to the Owner Trustee pursuant to Section 5.034.03; and no implied duties or obligations shall be read into this Trust Agreement or any Operative Agreement Basic Document against the Owner Trustee. Without limiting the foregoing, unless specifically enumerated in any Operative Agreement to which the Owner Trustee is party, the Owner Trustee (i) shall have no duty or obligation to execute, file or deliver, or cause the preparation, filing or delivery by other persons of, any such documents, reports, filings, instruments, certificates or opinions as it shall be the duty of the Trust to prepare, file or deliver pursuant to the Operative Agreements, (ii) shall have no duty or obligation to take, or refrain from taking, any action that is the duty or the obligation of the Trust pursuant to the Operative Agreements and (iii) shall have no duty or obligation to monitor the Trust’s duties and obligations pursuant to the Operative Agreements nor ensure that such duties and obligations are fulfilled by the Trust. The Owner Trustee shall have no responsibility for filing any financing or continuation statement in any public office at any time anytime or to otherwise perfect or maintain the perfection of any security interest or lien granted to the Trust it hereunder or to prepare or file any Securities and Exchange Commission filing for the Trust or to record this Trust Agreement or any Operative Agreement Basic Document. Notwithstanding any provision herein or in any other Basic Document, the Owner Trustee shall not be obligated to prepare prepare, file or file execute any tax return for documents or certifications required to be filed by the TrustTrust pursuant to the Sxxxxxxx-Xxxxx Act of 2002, as amended. The Owner Trustee nevertheless agrees that it will, at its own cost and expense, promptly take all action as may be necessary to discharge any liens on any part of the Trust Estate Collateral that result from actions by, or claims against against, the Bank Owner Trustee that are not related to the ownership or the administration of the Trust EstateCollateral.
Appears in 5 contracts
Samples: Trust Agreement (Renaissance Home Equity Loan Trust 2005-3), Trust Agreement (Renaissance Home Equity Loan Trust 2006-3), Trust Agreement (Renaissance Home Equity Loan Trust 2005-4, Home Equity Loan Asset-Backed Notes, Series 2005-4)
No Duties Except as Specified under Specified Documents or in Instructions. The Owner Trustee shall not have any duty or obligation to manage, make any payment with respect to, register, record, sell, dispose of, or otherwise deal with the Trust EstateCollateral, or to otherwise take or refrain from taking any action under, or in connection with, any document contemplated hereby to which the Owner Trustee or the Trust is a party, except as expressly provided (i) in accordance with the powers granted to and the authority conferred upon the Owner Trustee pursuant to this Trust Agreement, (ii) in accordance with the Basic Documents and (iiiii) in accordance with any document or instruction delivered to the Owner Trustee pursuant to Section 5.034.03; and no implied duties or obligations shall be read into this Trust Agreement or any Operative Agreement Basic Document against the Owner Trustee. Without limiting the foregoing, unless specifically enumerated in any Operative Agreement to which the Owner Trustee is party, the Owner Trustee (i) shall have no duty or obligation to execute, file or deliver, or cause the preparation, filing or delivery by other persons of, any such documents, reports, filings, instruments, certificates or opinions as it shall be the duty of the Trust to prepare, file or deliver pursuant to the Operative Agreements, (ii) shall have no duty or obligation to take, or refrain from taking, any action that is the duty or the obligation of the Trust pursuant to the Operative Agreements and (iii) shall have no duty or obligation to monitor the Trust’s duties and obligations pursuant to the Operative Agreements nor ensure that such duties and obligations are fulfilled by the Trust. The Owner Trustee shall have no responsibility for filing any financing or continuation statement in any public office at any time anytime or to otherwise perfect or maintain the perfection of any security interest or lien granted to the Trust it hereunder or to prepare or file any Securities and Exchange Commission filing for the Trust or to record this Trust Agreement or any Operative Agreement Basic Document. Notwithstanding any provision herein or in any other Basic Document, the Owner Trustee shall not be obligated to prepare prepare, file or file execute any tax return for documents or certifications required to be filed by the TrustTrust pursuant to the Xxxxxxxx-Xxxxx Act of 2002, as amended. The Owner Trustee nevertheless agrees that it will, at its own cost and expense, promptly take all action as may be necessary to discharge any liens on any part of the Trust Estate Collateral that result from actions by, or claims against against, the Bank Owner Trustee that are not related to the ownership or the administration of the Trust EstateCollateral.
Appears in 5 contracts
Samples: Trust Agreement (Renaissance Home Equity Loan Trust 2007-1), Trust Agreement (Renaissance Home Equity Loan Trust 2005-2), Trust Agreement (Renaissance Home Equity Loan Trust 2006-4)
No Duties Except as Specified under Specified Documents or in Instructions. The Owner Trustee shall not have any duty or obligation to manage, make any payment with respect to, register, record, sell, dispose of, or otherwise deal with the Owner Trust Estate, or to otherwise take or refrain from taking any action under, or in connection with, any document contemplated hereby to which the Owner Trustee or the Trust is a party, except as expressly provided (i) in accordance with the powers granted to and the authority conferred upon the Owner Trustee pursuant to this Trust Agreement, (ii) in accordance with the Basic Documents and (iiiii) in accordance with any document or instruction delivered to the Owner Trustee pursuant to Section 5.034.03; and no implied duties or obligations shall be read into this Trust Agreement or any Operative Agreement Basic Document against the Owner Trustee. Without limiting the foregoing, unless specifically enumerated in any Operative Agreement to which the Owner Trustee is party, the Owner Trustee (i) shall have no duty or obligation to execute, file or deliver, or cause the preparation, filing or delivery by other persons of, any such documents, reports, filings, instruments, certificates or opinions as it shall be the duty of the Trust to prepare, file or deliver pursuant to the Operative Agreements, (ii) shall have no duty or obligation to take, or refrain from taking, any action that is the duty or the obligation of the Trust pursuant to the Operative Agreements and (iii) shall have no duty or obligation to monitor the Trust’s duties and obligations pursuant to the Operative Agreements nor ensure that such duties and obligations are fulfilled by the Trust. The Owner Trustee shall have no responsibility for filing any financing or continuation statement in any public office at any time anytime or to otherwise perfect or maintain the perfection of any security interest or lien granted to the Trust it hereunder or to prepare or file any Securities and Exchange Commission filing for the Trust or to record this Trust Agreement or any Operative Agreement Basic Document. Notwithstanding any provision herein or in any other Basic Document, the Owner Trustee shall not be obligated to prepare prepare, file or file execute any tax return for documents or certifications required to be filed by the TrustTrust pursuant to the Xxxxxxxx-Xxxxx Act of 2002, as amended. The Owner Trustee nevertheless agrees that it will, at its own cost and expense, promptly take all action as may be necessary to discharge any liens on any part of the Owner Trust Estate that result from actions by, or claims against against, the Bank Owner Trustee that are not related to the ownership or the administration of the Owner Trust Estate.
Appears in 4 contracts
Samples: Trust Agreement (New Century Home Equity Loan Trust 2005-2), Trust Agreement (New Century Home Equity Loan Trust, Series 2004-3), Trust Agreement (Origen Residential Securities, Inc.)
No Duties Except as Specified under Specified Documents or in Instructions. The Subject to Section 6.01 hereof, the Owner Trustee shall not have any duty or obligation to manage, make any payment with respect to, register, record, sell, dispose of, or otherwise deal with the Owner Trust Estate, or to otherwise take or refrain from taking any action under, or in connection with, any document contemplated hereby to which the Owner Trustee or the Trust is a party, except as expressly provided (i) in accordance with the powers granted to and the authority conferred upon the Owner Trustee pursuant to this Trust Agreement, (ii) in accordance with the Basic Documents and (iiiii) in accordance with any document or instruction delivered to the Owner Trustee pursuant to Section 5.034.03; and no implied duties or obligations shall be read into this Trust Agreement or any Operative Agreement Basic Document against the Owner Trustee. Without limiting the foregoing, unless specifically enumerated in any Operative Agreement to which the Owner Trustee is party, the Owner Trustee (i) shall have no duty or obligation to execute, file or deliver, or cause the preparation, filing or delivery by other persons of, any such documents, reports, filings, instruments, certificates or opinions as it shall be the duty of the Trust to prepare, file or deliver pursuant to the Operative Agreements, (ii) shall have no duty or obligation to take, or refrain from taking, any action that is the duty or the obligation of the Trust pursuant to the Operative Agreements and (iii) shall have no duty or obligation to monitor the Trust’s duties and obligations pursuant to the Operative Agreements nor ensure that such duties and obligations are fulfilled by the Trust. The Owner Trustee shall have no responsibility for filing any financing or continuation statement in any public office at any time anytime or to otherwise perfect or maintain the perfection of any security interest or lien granted to the Trust it hereunder or to prepare or file any Securities and Exchange Commission filing for the Trust or to record this Trust Agreement or any Operative Agreement Basic Document. Notwithstanding and provision herein or in any other Basic Document, the Owner Trustee shall not be obligated to prepare prepare, file or file execute any tax return for documents or certificates required to be filed b the TrustTrust pursuant to the Xxxxxxxx-Xxxxx Act as of 2002, as amended. The Owner Trustee nevertheless agrees that it will, at its own cost and expense, promptly take all action as may be necessary to discharge any liens on any part of the Owner Trust Estate that result from actions by, or claims against against, the Bank Owner Trustee that are not related to the ownership or the administration of the Owner Trust Estate.
Appears in 1 contract
Samples: Trust Agreement
No Duties Except as Specified under Specified Documents or in Instructions. The Owner Trustee shall not have any duty or obligation to manage, make any payment with respect to, register, record, sell, dispose of, or otherwise deal with the Owner Trust Estate, or to otherwise take or refrain from taking any action under, or in connection with, any document contemplated hereby to which the Owner Trustee or the Trust is a party, except as expressly provided (i) in accordance with the powers granted to and the authority conferred upon the Owner Trustee pursuant to this Trust Agreement, (ii) in accordance with the Basic Documents and (iiiii) in accordance with any document or instruction delivered to the Owner Trustee pursuant to Section 5.034.03; and no implied duties or obligations shall be read into this Trust Agreement or any Operative Agreement Basic Document against the Owner Trustee. Without limiting the foregoing, unless specifically enumerated in any Operative Agreement to which the Owner Trustee is party, the Owner Trustee (i) shall have no duty or obligation to execute, file or deliver, or cause the preparation, filing or delivery by other persons of, any such documents, reports, filings, instruments, certificates or opinions as it shall be the duty of the Trust to prepare, file or deliver pursuant to the Operative Agreements, (ii) shall have no duty or obligation to take, or refrain from taking, any action that is the duty or the obligation of the Trust pursuant to the Operative Agreements and (iii) shall have no duty or obligation to monitor the Trust’s duties and obligations pursuant to the Operative Agreements nor ensure that such duties and obligations are fulfilled by the Trust. The Owner Trustee shall have no responsibility for filing any financing or continuation statement in any public office at any time anytime or to otherwise perfect or maintain the perfection of any security interest or lien granted to the Trust it hereunder or to prepare or file any Securities and Exchange Commission filing for the Trust or to record this Trust Agreement or any Operative Agreement Basic Document. Notwithstanding any provision herein or in any other Basic Document, the Owner Trustee shall not be obligated to prepare prepare, file or file execute any tax return for documents or certifications required to be filed by the TrustTrust pursuant to the Sarbanes-Oxley Act of 2002, as amenxxx. The Owner Xxx Xxxxx Trustee nevertheless agrees that it will, at its own cost and expense, promptly take all action as may be necessary to discharge any liens on any part of the Owner Trust Estate that result from actions by, or claims against against, the Bank Owner Trustee that are not related to the ownership or the administration of the Owner Trust Estate.
Appears in 1 contract
Samples: Trust Agreement (New Century Mort Sec Inc Home Equity Loan Trust 2003 6)
No Duties Except as Specified under Specified Documents or in Instructions. The Owner Trustee shall not have any duty or obligation to manage, make any payment with respect to, register, record, sell, dispose of, or otherwise deal with the Owner Trust Estate, or to otherwise take or refrain from taking any action under, or in connection with, any document contemplated hereby to which the Owner Trustee or the Trust is a party, except as expressly provided (i) in accordance with the powers granted to and the authority conferred upon the Owner Trustee pursuant to this Agreement, and (ii) in accordance with any document or instruction delivered to the Owner Trustee pursuant to Section 5.03herein; and no implied duties or obligations shall be read into this Trust Agreement or any Operative Agreement Basic Document against the Owner Trustee. Without limiting the foregoing, unless specifically enumerated in any Operative Agreement to which the Owner Trustee is party, the Owner Trustee (i) shall have no duty or obligation to execute, file or deliver, or cause the preparation, filing or delivery by other persons of, any such documents, reports, filings, instruments, certificates or opinions as it shall be the duty of the Trust to prepare, file or deliver pursuant to the Operative Agreements, (ii) shall have no duty or obligation to take, or refrain from taking, any action that is the duty or the obligation of the Trust pursuant to the Operative Agreements and (iii) shall have no duty or obligation to monitor the Trust’s duties and obligations pursuant to the Operative Agreements nor ensure that such duties and obligations are fulfilled by the Trust. The Owner Trustee shall have no responsibility for filing any financing or continuation statement in any public office at any time or to otherwise perfect or maintain the perfection of any security interest or lien granted to the Trust it hereunder or to prepare or file any Securities and Exchange Commission filing for the Trust or to record this Trust Agreement or any Operative Basic Document. Further, notwithstanding anything to the contrary herein or in any other document, the Owner Trustee shall not be required to execute, deliver or certify on behalf of the Trust, the Servicer, the Depositor or any other Person any filings, certificates, affidavits or other instruments required by the Commission or required under the Xxxxxxxx-Xxxxx Act of 2002. Notwithstanding any Person’s right to instruct the Owner Trustee, neither the Owner Trustee nor any agent, employee, director or officer of the Owner Trustee shall have any obligation to execute any certificates or other documents required by the Commission or required pursuant to the Xxxxxxxx-Xxxxx Act of 2002 or the rules and regulations promulgated thereunder, and the refusal to comply with any such instructions shall not constitute a default or breach under this Agreement or to prepare or file any tax return for the Trustother document in connection herewith. The Owner Trustee nevertheless agrees that it will, at its own cost and expense, promptly take all action as may be necessary to discharge any liens on any part of the Owner Trust Estate that result from actions by, or claims against against, the Bank Owner Trustee in its individual capacity that are not related to the ownership or the administration of the Owner Trust Estate.
Appears in 1 contract
No Duties Except as Specified under Specified Documents or in Instructions. The Owner Trustee shall not have any duty or obligation to manage, make any payment with respect to, register, record, sell, dispose of, or otherwise deal with the Owner Trust Estate, or to otherwise take or refrain from taking any action under, or in connection with, any document contemplated hereby to which the Owner Trustee or the Trust is a party, except as expressly provided (i) in accordance with the powers granted to and the authority conferred upon the Owner Trustee pursuant to this Trust Agreement, (ii) in accordance with the Basic Documents and (iiiii) in accordance with any document or instruction delivered to the Owner Trustee pursuant to Section 5.034.03; and no implied duties or obligations shall be read into this Trust Agreement or any Operative Agreement Basic Document against the Owner Trustee. Without limiting The provisions of this Trust Agreement, to the foregoing, unless specifically enumerated in any Operative Agreement to which extent that they restrict or eliminate the duties (including fiduciary duties) and liabilities of the Owner Trustee is partyotherwise existing at law or in equity, replace such other duties and liabilities of the Owner Trustee (i) shall have no duty or obligation to execute, file or deliver, or cause the preparation, filing or delivery by other persons of, any such documents, reports, filings, instruments, certificates or opinions as it shall be the duty of the Trust to prepare, file or deliver pursuant to the Operative Agreements, (ii) shall have no duty or obligation to take, or refrain from taking, any action that is the duty or the obligation of the Trust pursuant to the Operative Agreements and (iii) shall have no duty or obligation to monitor the Trust’s duties and obligations pursuant to the Operative Agreements nor ensure that such duties and obligations are fulfilled by the TrustTrustee. The Owner Trustee shall have no responsibility for filing to prepare or file any financing or continuation statement in any public office at any time anytime or to otherwise perfect or maintain the perfection of any security interest or lien granted to it or the Trust hereunder or to prepare or file any Securities and Exchange Commission filing for the Trust or to record this Trust Agreement or any Operative Agreement Basic Document. Notwithstanding any provision herein or in any other Basic Document, the Owner Trustee shall not be obligated to prepare prepare, file or file execute any tax return for documents or certifications required to be filed by the TrustTrust pursuant to the Xxxxxxxx-Xxxxx Act of 2002, as amended. The Owner Trustee nevertheless agrees that it will, at its own cost and expense, promptly take all action as may be necessary to discharge any liens on any part of the Owner Trust Estate that result from actions by, or claims against against, the Bank Owner Trustee in its individual capacity that are not related to the ownership or the administration of the Owner Trust Estate.
Appears in 1 contract
No Duties Except as Specified under Specified Documents or in Instructions. The Subject to Section 6.01 hereof, the Owner Trustee shall not have any duty or obligation to manage, make any payment with respect to, register, record, sell, dispose of, or otherwise deal with the Owner Trust Estate, or to otherwise take or refrain from taking any action under, or in connection with, any document contemplated hereby to which the Owner Trustee or the Trust is a party, except as expressly provided (i) in accordance with the powers granted to and the authority conferred upon the Owner Trustee pursuant to this Trust Agreement, (ii) in accordance with the Basic Documents and (iiiii) in accordance with any document or instruction delivered to the Owner Trustee pursuant to Section 5.034.03; and no implied duties or obligations shall be read into this Trust Agreement or any Operative Agreement Basic Document against the Owner Trustee. Without limiting the foregoing, unless specifically enumerated in any Operative Agreement to which the Owner Trustee is party, the Owner Trustee (i) shall have no duty or obligation to execute, file or deliver, or cause the preparation, filing or delivery by other persons of, any such documents, reports, filings, instruments, certificates or opinions as it shall be the duty of the Trust to prepare, file or deliver pursuant to the Operative Agreements, (ii) shall have no duty or obligation to take, or refrain from taking, any action that is the duty or the obligation of the Trust pursuant to the Operative Agreements and (iii) shall have no duty or obligation to monitor the Trust’s duties and obligations pursuant to the Operative Agreements nor ensure that such duties and obligations are fulfilled by the Trust. The Owner Trustee shall have no responsibility for filing any financing or continuation statement in any public office at any time anytime or to otherwise perfect or maintain the perfection of any security interest or lien granted to the Trust it hereunder or to prepare or file any Securities and Exchange Commission filing for the Trust or to record this Trust Agreement or any Operative Agreement Basic Document. Notwithstanding and provision herein or in any other Basic Document, the Owner Trustee shall not be obligated to prepare prepare, file or file execute any tax return for documents or certificates required to be filed b the TrustTrust pursuant to the Sxxxxxxx-Xxxxx Act as of 2002, as amended. The Owner Trustee nevertheless agrees that it will, at its own cost and expense, promptly take all action as may be necessary to discharge any liens on any part of the Owner Trust Estate that result from actions by, or claims against against, the Bank Owner Trustee that are not related to the ownership or the administration of the Owner Trust Estate.
Appears in 1 contract
Samples: Trust Agreement (Citigroup Mortgage Loan Trust 2005-6)
No Duties Except as Specified under Specified Documents or in Instructions. The Owner Trustee shall not have any duty or obligation to manage, make any payment with respect to, register, record, sell, dispose of, or otherwise deal with the Trust Estate, or to otherwise take or refrain from taking any action under, or in connection with, any document contemplated hereby to which the Owner Trustee or the Trust is a party, except as expressly provided (i) in accordance with the powers granted to and the authority conferred upon the Owner Trustee pursuant to this Agreement, and (ii) in accordance with any document or instruction delivered to the Owner Trustee pursuant to Section 5.03; and no implied duties or obligations shall be read into this Agreement or any Operative Agreement against the Owner Trustee. Without limiting the foregoing, unless specifically enumerated in any Operative Agreement to which the Owner Trustee is party, the Owner Trustee (i) shall have no duty or obligation to execute, file or deliver, or cause the preparation, filing or delivery by other persons of, any such documents, reports, filings, instruments, certificates or opinions as it shall be the duty of the Trust to prepare, file or deliver pursuant to the Operative Agreements, (ii) shall have no duty or obligation to take, or refrain from taking, any action that is the duty or the obligation of the Trust pursuant to the Operative Agreements and (iii) shall have no duty or obligation to monitor the Trust’s 's duties and obligations pursuant to the Operative Agreements nor ensure that such duties and obligations are fulfilled by the Trust. The Owner Trustee shall have no responsibility for filing any financing or continuation statement in any public office at any time or to otherwise perfect or maintain the perfection of any security interest or lien granted to the Trust or to prepare or file any Securities and Exchange Commission filing for the Trust or to record this Agreement or any Operative Agreement or to prepare or file any tax return for the Trust. The Owner Trustee nevertheless agrees that it will, at its own cost and expense, promptly take all action as may be necessary to discharge any liens on any part of the Trust Estate that result from actions by, or claims against the Bank that are not related to the ownership or the administration of the Trust Estate.
Appears in 1 contract
Samples: Trust Agreement (Cwabs Inc)
No Duties Except as Specified under Specified Documents or in Instructions. The Owner Trustee shall not have any duty or obligation to manage, make any payment with respect to, register, record, sell, dispose of, or otherwise deal with the Owner Trust Estate, or to otherwise take or refrain from taking any action under, or in connection with, any document contemplated hereby to which the Owner Trustee or the Trust is a party, except as expressly provided (i) in accordance with the powers granted to and the authority conferred upon the Owner Trustee pursuant to this Trust Agreement, (ii) in accordance with the Basic Documents and (iiiii) in accordance with any document or instruction delivered to the Owner Trustee pursuant to Section 5.034.03; and no implied duties or obligations shall be read into this Trust Agreement or any Operative Agreement Basic Document against the Owner Trustee. Without limiting the foregoing, unless specifically enumerated in any Operative Agreement to which the Owner Trustee is party, the Owner Trustee (i) shall have no duty or obligation to execute, file or deliver, or cause the preparation, filing or delivery by other persons of, any such documents, reports, filings, instruments, certificates or opinions as it shall be the duty of the Trust to prepare, file or deliver pursuant to the Operative Agreements, (ii) shall have no duty or obligation to take, or refrain from taking, any action that is the duty or the obligation of the Trust pursuant to the Operative Agreements and (iii) shall have no duty or obligation to monitor the Trust’s duties and obligations pursuant to the Operative Agreements nor ensure that such duties and obligations are fulfilled by the Trust. The Owner Trustee shall have no responsibility for filing any financing or continuation statement in any public office at any time anytime or to otherwise perfect or maintain the perfection of any security interest or lien granted to the Trust it hereunder or to prepare or file any Securities and Exchange Commission filing for the Trust or to record this Trust Agreement or any Operative Agreement Basic Document. Notwithstanding any provision herein or in any other Basic Document, the Owner Trustee shall not be obligated to prepare prepare, file or file execute any tax return for documents or certifications required to be filed by the TrustTrust pursuant to the Sarbanes-Oxley Act of 2002, as amended. The Owner Trustee nevertheless agrees that neverthelesx xxxxxx xxxx it will, at its own cost and expense, promptly take all action as may be necessary to discharge any liens on any part of the Owner Trust Estate that result from actions by, or claims against against, the Bank Owner Trustee that are not related to the ownership or the administration of the Owner Trust Estate.
Appears in 1 contract
Samples: Trust Agreement (New Century Home Equity Loan Trust 2004-2)