Resignation by Custodian. (EXISTING PLANS AND/OR NEW PLANS). The Custodian shall have the right to resign as custodian under any existing Plan at any time but only if either: (a) the securities and other property in which the funds of the Planholders are invested have been completely liquidated and the proceeds of such liquidation have been distributed to the Planholders; or (b) a successor custodian, meeting with the approval of the Sponsor and having the qualifications prescribed in Section I(B)(1)(a) above, has been designated by the resigning Custodian or the Sponsor and the successor custodian has accepted such custodianship. Notwithstanding the above, the Custodian shall have the right, upon at least 90 days' written notice to the Sponsor, to terminate its obligation to accept any new Pioneer Independence Plans for custodianship hereunder In addition, the obligation of the Custodian to accept any new Pioneer Independence Plans for custodianship hereunder shall terminate if the Sponsor: (1) fails to maintain an effective registration statement under the 1933 Act covering the issuance of Pioneer Independence Plans; (2) fails to cause the requirements of the 1940 Act to remain satisfied in connection with the issuance of Pioneer
Resignation by Custodian. The Custodian may resign as custodian under this Agreement upon at least 60 days’ notice to the Depositor, the Master Servicer, the Servicer, the Subservicer, the NIMS Insurer and the Trustee. The costs associated with the resignation of the Custodian, including all costs associated with the transfer of the Custodial Files, shall be borne by the Custodian. In the event of such resignation, the Trustee shall promptly appoint a successor custodian acceptable to the NIMS Insurer to serve as Custodian hereunder. Upon such appointment the Custodian shall promptly transfer to the successor custodian, as directed, all Custodial Files being administered under this Agreement. If no successor is so appointed and approved by the end of such 60-day period, the Custodian shall deliver all Custodial Files to the Trustee. The Seller shall be responsible for the payment or reimbursement of such successor custodian's reasonable fees and expenses in connection with the performance of such successor custodian's obligations under this Agreement.
Resignation by Custodian. The Custodian may resign as custodian under this Agreement upon at least 60 days’ notice to the Depositor, the Seller, the Master Servicer, the Servicer and the Indenture Trustee. If the Custodian resigns without reasonable cause, the costs associated with the resignation of the Custodian, including all costs associated with the transfer of the Custodial Files, shall be borne by the Custodian. In the event of such resignation, the Indenture Trustee shall promptly appoint a successor custodian to serve as Custodian hereunder. Upon such appointment the Custodian shall promptly transfer to the successor custodian, as directed, all Custodial Files being administered under this Agreement. If no successor is so appointed by the end of such 60-day period, the Custodian shall deliver all Custodial Files to the Indenture Trustee or as the Indenture Trustee directs. The Seller shall be responsible for the payment or reimbursement of such successor custodian’s reasonable fees and expenses in connection with the performance of such successor custodian’s obligations under this Agreement; provided that such fees will be subject to the consent of the Seller if such fees exceed the fees paid to the resigning servicer.
Resignation by Custodian. The Custodian may resign as custodian under this Agreement upon at least thirty (30) days’ prior written notice to the Lender. In the event of such resignation, the Lender shall promptly appoint a successor custodian (at the Lender’s own expense) to serve as the custodian hereunder. Upon such appointment and payment of all outstanding and unpaid fees of the Custodian, the Custodian shall promptly transfer to the successor custodian, as directed in writing by the Lender, all Mortgage Asset Files being administered by Custodian under this Agreement. If no successor is so appointed and approved by the end of such thirty (30) day period, the Custodian shall deliver all Mortgage Asset Files to the Lender at the address set forth in Section 17 hereto unless otherwise instructed by a Designated Officer of Lender. The Custodian shall be responsible for the expenses of transferring the Mortgage Asset Files to the successor custodian or the delivery of the Mortgage Asset Files to the Lender under this Section 15, as applicable, unless Custodian is resigning due to Xxxxxx’s breach of this Agreement including but not limited to Xxxxxx’s failure to pay custodial fees within thirty (30) days of written notice from the Custodian that same are due and unpaid. In all cases, the Custodian will have no obligation with respect to the fees or expenses of any successor custodian. With respect to any Electronic Mortgage Loan Documents upon the appointment of a successor custodian, the Custodian will remove from its possession and shall delete all Electronic Mortgage Loan Documents held in its possession pursuant to this Agreement and in accordance with the Custodian’s customary retention and purging policies and procedures of electronic files and data.
Resignation by Custodian. 6 Section 16.
Resignation by Custodian. Section 17. Term of Agreement. Section 18. Notices. Section 19. Successors and Assigns. Section 20. Limitation on Liability 12 Section 21. Custodian Obligations Regarding Genuineness of Documents. Section 22. Shipment of Documents. Section 23. Authorized Representatives. 13 Section 24. Amendments. Section 25. Third-Party Beneficiary. 13 EXHIBITS EXHIBIT A MORTGAGE LOAN SCHEDULE EXHIBIT B-1 FORM OF INITIAL CERTIFICATION EXHIBIT B-2 FORM OF INTERIM CERTIFICATION EXHIBIT B-3 FORM OF FINAL CERTIFICATION EXHIBIT B-4 FORM OF REQUEST FOR RELEASE OF DOCUMENTS AND RECEIPT EXHIBIT B-5 FORM OF LOST NOTE AFFIDAVIT EXHIBIT B-6 FORM OF ENDORSEMENT EXHIBIT C AUTHORIZED REPRESENTATIVES OF THE CUSTODIAN EXHIBIT D AUTHORIZED REPRESENTATIVES OF THE TRUSTEE EXHIBIT E AUTHORIZED REPRESENTATIVES OF THE MASTER SERVICER EXHIBIT F-1 AUTHORIZED REPRESENTATIVES OF THE SERVICER (FIELDSTONE MORTGAGE COMPANY) EXHIBIT F-2 AUTHORIZED REPRESENTATIVES OF THE SUBSERVICER (CHASE MANHATTAN MORTGAGE COMPANY) This is a Custodial Agreement (the “Agreement”), dated and effective as of September 1, 2003, by and between Xxxxx Fargo Bank Minnesota, National Association, as custodian (the “Custodian”), and HSBC Bank USA (the “Trustee”).
