Performance of Duties; Liability. Trustee shall perform and fulfill faithfully its obligations hereunder, but it shall be under no duty to act until it receives notice of the occurrence of an Event of Default from Lender and arrangements have been made which are satisfactory to it for the indemnification to which it is entitled, the payment of its compensation and the reimbursement of any expenses it may incur in the performance of its duties. It shall have no liability for its acts unless it is guilty of willful misconduct or gross negligence.
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Samples: Security Agreement and Fixture Filing (Moody National REIT II, Inc.), Security Agreement and Fixture Filing (Moody National REIT II, Inc.), Trust, Security Agreement and Fixture Filing (Inland Western Retail Real Estate Trust Inc)
Performance of Duties; Liability. Trustee The Trustees shall perform and fulfill faithfully its their obligations hereunder, but it they shall be under no duty to act until it receives they receive notice of the occurrence of an Event of Default from Lender the Bank and arrangements have been made which are satisfactory to it them for the indemnification to which it is they are entitled, the payment of its their compensation and the reimbursement of any expenses it they may incur in the performance of its their duties. It They shall have no liability for its their acts unless it is they are guilty of willful misconduct or gross negligence.
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