PARTY AS TRUSTEE Sample Clauses

PARTY AS TRUSTEE. 22.1 If the Customer enters into the Contract in the capacity of trustee of any trust, under any trust deed, deed of settlement or other instrument, then this clause 22 applies and the Customer also enters into the Contract in its personal capacity.
Sample 1Sample 2Sample 3See All (4)
AutoNDA by SimpleDocs
PARTY AS TRUSTEE. In this document, unless the context requires otherwise:
Sample 1Sample 2
PARTY AS TRUSTEE. 9.1 If any party (Trustee) enters into this Deed in the capacity as trustee of any trust (Trust) under any trust deed, deed of settlement or other instrument (Trust Deed), and whether or not any other party has notice of the Trust, then the Trustee enters into this Deed both as trustee of the Trust and in its personal capacity.
Sample 1
PARTY AS TRUSTEE. If any Party has entered or enters into this Agreement in such Party’s capacity as a trustee (a “Trustee”) of any trust (“Trust”) under any trust deed, deed of settlement or other instrument (a “Trust Deed”), and whether or not the other Parties have notice of such Trust, then such Party shall have been deemed to have entered or enter into this Agreement both as Trustee of such Trust and in such Party’s personal capacity. Each such Trustee represents and warrants that: (a) such Trustee has the power under the applicable Trust Deed and, in the case of a Trustee that is an entity, under such Trustee’s Governing Documents, to enter into and execute this Agreement and to perform the obligations imposed under this Agreement as trustee; (b) all necessary resolutions and approvals have been passed and obtained as required by the Trust Deed and, in the case of a Trustee that is an entity, by such Trustee’s Governing Documents, in order to make this Agreement fully binding on such Trustee; (c) the execution of this Agreement by such Trustee is for the benefit of the applicable Trust; (d) such Trustee is not in default of the applicable Trust Deed; (e) there is not now, and the Trustee shall not take or fail to take any action by virtue of which there will be in the future, any restriction or limitation on the right of such Trustee to be indemnified out of the assets of the applicable Trust; and (f) there is no material fact or circumstance relating to the assets, matters or affairs of the applicable Trust that could, if disclosed, be expected to affect the decision of the other Parties, acting reasonably, to enter into this Agreement.
Sample 1
PARTY AS TRUSTEE. 29.1 This clause applies if any party (in this clause each of whom is referred to as the “Trustee”):
Sample 1
PARTY AS TRUSTEE. (a) If any party (Trustee) enters into this Agreement in the capacity as a trustee of any trust (Trust) under any trust deed, deed of settlement of any other instrument (Trust Deed), then the Trustee enters into this Agreement both as trustee of the Trust and in its personal capacity.
Sample 1
PARTY AS TRUSTEE 
Sample 1
AutoNDA by SimpleDocs

Related to PARTY AS TRUSTEE

  • Trustee Liens The Trustee in its individual capacity agrees, in addition to the agreements contained in Section 7.17 of the Basic Agreement, that it will at its own cost and expense promptly take any action as may be necessary to duly discharge and satisfy in full any Trustee’s Liens on or with respect to the Trust Property which is attributable to the Trustee in its individual capacity and which is unrelated to the transactions contemplated by the Intercreditor Agreement or the NPA.

  • Servicer to Act as Servicer From and after each Commencement Date, the Servicer, as an independent contractor, shall service and administer the related Mortgage Loans and shall have full power and authority, acting alone, to do any and all things in connection with such servicing and administration which the Servicer may deem necessary or desirable, consistent with the terms of this Agreement and with Accepted Servicing Practices; provided that the Servicer shall not take any action that is inconsistent with or prejudices the rights and interests of the Owner in any Mortgage Loan or under this Agreement. The Servicer shall not make any future advances with respect to a Mortgage Loan and (unless the Mortgagor is in default with respect to the Mortgage Loan or such default is, in the judgment of the Servicer, imminent and the Servicer has obtained the prior written consent of the Master Servicer) the Servicer shall not permit any modification of any material term of any Mortgage Loan including any modifications that would change the Mortgage Interest Rate, defer or forgive the payment of principal or interest, reduce or increase the outstanding principal balance (except for actual payments of principal) or change the final maturity date on such Mortgage Loan. Except with the written permission of the Master Servicer, no modification, recast, extension, or capitalization of delinquent payments of a Mortgage Loan shall be permitted. Where applicable, the Servicer must satisfy all requirements under the applicable PMI Policy and/or any applicable LPMI Policy regarding the relief granted with respect to a delinquent Mortgage Loan, including, without limitation, securing the prior written consent of the respective Qualified Insurer regarding any change in any term of such Mortgage Loan, the release of the related Mortgagor from any liability related to such Mortgage Loan, or the release of any portion of, or interest in, the Mortgaged Property from the lien of the related Mortgage. In the event of any modification permitted hereunder which permits the deferral of interest or principal payments on any Mortgage Loan, the Servicer shall, on the Business Day immediately preceding the Remittance Date in any month in which any such principal or interest payment has been deferred, deposit in the Custodial Account from its own funds, in accordance with Section 5.03, the difference between (a) such month's principal and one month's interest at the Mortgage Loan Remittance Rate on the unpaid principal balance of such Mortgage Loan and (b) the amount paid by the Mortgagor. The Servicer shall be entitled to reimbursement for such advances to the same extent as for all other advances made pursuant to Section 5.03. Without limiting the generality of the foregoing, the Servicer shall continue, and is hereby authorized and empowered, to execute and deliver on behalf of itself and the Owner, all instruments of satisfaction or cancellation, or of partial or full release, discharge and all other comparable instruments, with respect to the Mortgage Loans and with respect to the Mortgaged Properties. If reasonably required by the Servicer, the Owner shall furnish the Servicer with any powers of attorney and other documents necessary or appropriate to enable the Servicer to carry out its servicing and administrative duties under this Agreement. Promptly after the execution of any assumption, modification, consolidation or extension of any Mortgage Loan, but in no event later than the Reporting Date in the month following the date of execution of such instrument, the Servicer shall forward to the Master Servicer copies of any documents evidencing such assumption, modification, consolidation or extension. In servicing and administering the Mortgage Loans, the Servicer shall employ procedures (including collection procedures) and exercise the same care that it customarily employs and exercises in servicing and administering mortgage loans for its own account, giving due consideration to Accepted Servicing Practices where such practices do not conflict with the requirements of this Agreement, and the Owner's reliance on the Servicer.

  • Master Servicer to Act as Master Servicer The Master Servicer shall service and administer the Mortgage Loans on behalf of the Trustee and in the best interests of and for the benefit of the Certificateholders (as determined by the Master Servicer in its reasonable judgment) in accordance with the terms of this Agreement and the respective Mortgage Loans and, to the extent consistent with such terms, in the same manner in which it services and administers similar mortgage loans for its own portfolio, giving due consideration to customary and usual standards of practice of prudent mortgage lenders and loan servicers administering similar mortgage loans but without regard to:

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