Common use of Performance of Covenants by Escrow Agent Clause in Contracts

Performance of Covenants by Escrow Agent. If the Trust shall fail to perform any of its covenants contained in this Agreement, the Escrow Agent may notify the Receiptholders and the Lead Underwriter, on behalf of the Underwriters, of such failure on the part of the Trust or may itself perform any of the said covenants capable of being performed by it, but shall be under no obligation to perform said covenants or to notify the Receiptholders and Lead Underwriter of such performance by it. All sums expended or advanced by the Escrow Agent in so doing shall be repayable as provided in Section 5.3. No such performance, expenditure or advance by the Escrow Agent shall relieve the Trust of any default hereunder or of its continuing obligations under the covenants contained herein.

Performance of Covenants by Escrow Agent. If the Trust Corporation shall fail to perform any of its covenants contained in this Agreement, the Escrow Agent may notify the Receiptholders and the Lead UnderwriterUnderwriters, on behalf of the Underwriters, of such failure on the part of the Trust Corporation or may itself perform any of the said covenants capable of being performed by it, but shall be under no obligation to perform said covenants or to notify the Receiptholders and Lead Underwriter of such performance by it. All sums expended or advanced by the Escrow Agent in so doing shall be repayable as provided in Section 5.3. No such performance, expenditure or advance by the Escrow Agent shall relieve the Trust Corporation of any default hereunder or of its continuing obligations under the covenants contained herein.

Performance of Covenants by Escrow Agent. If the Trust shall fail to perform any of its covenants contained in this Agreement, the Escrow Agent may notify the Receiptholders and the Lead UnderwriterUnderwriters, on behalf of the Underwriters, of such failure on the part of the Trust or may itself perform any of the said covenants capable of being performed by it, but shall be under no obligation to perform said covenants or to notify the Receiptholders and Lead Underwriter of such performance by it. All sums expended or advanced by the Escrow Agent in so doing shall be repayable as provided in Section 5.3. No such performance, expenditure or advance by the Escrow Agent shall relieve the Trust of any default hereunder or of its continuing obligations under the covenants contained herein.

Performance of Covenants by Escrow Agent. If the Trust shall fail to perform any of its covenants contained in this Agreement, the Escrow Agent may notify the Receiptholders and the Lead Underwriter, on behalf of the Underwriters, of such failure on the part of the Trust or may itself perform any of the said covenants capable of being performed by it, but shall be under no obligation to perform said such covenants or to notify the Receiptholders and Lead Underwriter of such performance by it. All sums expended or advanced by the Escrow Agent in so doing shall be repayable as provided in Section 5.3. No such performance, expenditure or advance by the Escrow Agent shall relieve the Trust of any default hereunder or of its continuing obligations under the covenants contained herein.