Common use of Servicer and Trustee Indemnification Clause in Contracts

Servicer and Trustee Indemnification. In the event that any REMIC created hereunder fails to qualify as a REMIC, loses its status as a REMIC, or incurs federal, state or local taxes as a result of a prohibited transaction or prohibited contribution under the REMIC Provisions due solely to (i) the negligent performance by the Trustee of its duties and obligations set forth herein or (ii) any state, local or franchise taxes imposed upon the Trust Estate as a result of the location of the Trustee or any co-trustee, the Trustee shall indemnify the Trust Estate against any and all losses, claims, damages, liabilities or expenses ("Losses") resulting from such negligence, including, without limitation, any reasonable attorneys' fees imposed on or incurred as a result of a breach of the Trustee's or any co-trustee's covenants. In the event that any REMIC created hereunder fails to qualify as a REMIC, loses its status as a REMIC, or incurs federal, state or local taxes as a result of a prohibited transaction or prohibited contribution under the REMIC Provisions due solely to (i) the negligent performance by the Servicer of its duties and obligations set forth herein or (ii) any state, local or franchise taxes imposed upon the Trust Estate as a result of the location of the Servicer, the Servicer shall indemnify the Trust Estate against any and all Losses resulting from such negligence, including, without limitation, any reasonable attorneys' fees imposed on or incurred as a result of a breach of the Servicer's covenants.

Servicer and Trustee Indemnification. (a) In the event that any Trust REMIC created hereunder fails to qualify as a REMIC, loses its status as a REMIC, or incurs federal, state or local taxes as a result of a prohibited transaction or prohibited contribution under the REMIC Provisions due solely to (i) the negligent performance by the Trustee of its duties and obligations set forth herein or (ii) any state, local or franchise taxes imposed upon the Trust Estate Fund as a result of the location of the Trustee or any co-trustee, the Trustee shall indemnify the Trust Estate against any and all losses, claims, damages, liabilities or expenses ("Losses") resulting from such negligence, including, without limitation, any reasonable attorneys' fees imposed on or incurred as a result of a breach of the Trustee's or any co-trustee's covenants. In the event that any REMIC created hereunder fails to qualify as a REMIC, loses its status as a REMIC, or incurs federal, state or local taxes as a result of a prohibited transaction or prohibited contribution under the REMIC Provisions due solely to (i) the negligent performance by the Servicer of its duties and obligations set forth herein or (ii) any state, local or franchise taxes imposed upon the Trust Estate as a result of the location of the ServicerNIMS Insurer, the Servicer shall indemnify and the Trust Estate Fund against any and all Losses resulting from such negligence, including, without limitation, any reasonable attorneys' ’ fees imposed on or incurred as a result of a breach of the Trustee’s or any co-trustee’s covenants; provided, however, that the Trustee shall not be liable for any such Losses attributable to the action or inaction of the Servicer's covenants, the Depositor or the Holder of such Residual Certificate, as applicable, nor for any such Losses resulting from misinformation provided by the Holder of such Residual Certificate on which the Trustee has relied. The foregoing shall not be deemed to limit or restrict the rights and remedies of the Holder of such Residual Certificate now or hereafter existing at law or in equity. Notwithstanding the foregoing, however, in no event shall the Trustee have any liability (1) for any action or omission that is taken in accordance with and in compliance with the express terms of, or which is expressly permitted by the terms of, this Agreement, (2) for any Losses other than arising out of a negligent performance by the Trustee of its duties and obligations set forth herein, and (3) for any special or consequential damages to Certificateholders (in addition to payment of principal and interest on the Certificates).

Servicer and Trustee Indemnification. (a) In the event that any Trust REMIC created hereunder fails to qualify as a REMIC, loses its status as a REMIC, or incurs federal, state or local taxes as a result of a prohibited transaction or prohibited contribution under the REMIC Provisions due solely to (i) the negligent performance by the Trustee of its duties and obligations set forth herein or (ii) any state, local or franchise taxes imposed upon the Trust Estate Fund as a result of the location of the Trustee or any co-trustee, the Trustee shall indemnify the NIMS Insurer, the Servicer and the Trust Estate Fund against any and all losses, claims, damages, liabilities or expenses ("Losses") Losses resulting from such negligence, including, without limitation, any reasonable attorneys' fees imposed on or incurred as a result of a breach of the Trustee's or any co-trustee's covenants; provided, however, that the Trustee shall not be liable for any such Losses attributable to the action or inaction of the Servicer, the Depositor or the Holder of such Residual Certificate, as applicable, nor for any such Losses resulting from misinformation provided by the Holder of such Residual Certificate on which the Trustee has relied. In The foregoing shall not be deemed to limit or restrict the rights and remedies of the Holder of such Residual Certificate now or hereafter existing at law or in equity. Notwithstanding the foregoing, however, in no event shall the Trustee have any liability (1) for any action or omission that any REMIC created hereunder fails to qualify as a REMIC, loses its status as a REMICis taken in accordance with and in compliance with the express terms of, or incurs federalwhich is expressly permitted by the terms of, state or local taxes as a result this Agreement, (2) for any Losses other than arising out of a prohibited transaction or prohibited contribution under the REMIC Provisions due solely to (i) the negligent performance by the Servicer Trustee of its duties and obligations set forth herein herein, and (3) for any special or consequential damages to Certificateholders (ii) any state, local or franchise taxes imposed upon in addition to payment of principal and interest on the Trust Estate as a result of the location of the Servicer, the Servicer shall indemnify the Trust Estate against any and all Losses resulting from such negligence, including, without limitation, any reasonable attorneys' fees imposed on or incurred as a result of a breach of the Servicer's covenantsCertificates).

Servicer and Trustee Indemnification. (a) In the event that any Trust REMIC created hereunder fails to qualify as a REMIC, loses its status as a REMIC, or incurs federal, state or local taxes as a result of a prohibited transaction or prohibited contribution under the REMIC Provisions due solely to (i) the negligent performance by the Trustee of its duties and obligations set forth herein or (ii) any state, local or franchise taxes imposed upon the Trust Estate Fund as a result of the location of the Trustee or any co-trustee, the Trustee shall indemnify the NIMS Insurer and the Trust Estate Fund against any and all losses, claims, damages, liabilities or expenses ("Losses") Losses resulting from such negligence, including, without limitation, any reasonable attorneys' fees imposed on or incurred as a result of a breach of the Trustee's or any co-trustee's covenants; PROVIDED, HOWEVER, that the Trustee shall not be liable for any such Losses attributable to the action or inaction of the Servicer, the Depositor or the Holder of such Residual Certificate, as applicable, nor for any such Losses resulting from misinformation provided by the Holder of such Residual Certificate on which the Trustee has relied. In The foregoing shall not be deemed to limit or restrict the rights and remedies of the Holder of such Residual Certificate now or hereafter existing at law or in equity. Notwithstanding the foregoing, however, in no event shall the Trustee have any liability (1) for any action or omission that any REMIC created hereunder fails to qualify as a REMIC, loses its status as a REMICis taken in accordance with and in compliance with the express terms of, or incurs federalwhich is expressly permitted by the terms of, state or local taxes as a result this Agreement, (2) for any Losses other than arising out of a prohibited transaction or prohibited contribution under the REMIC Provisions due solely to (i) the negligent performance by the Servicer Trustee of its duties and obligations set forth herein herein, and (3) for any special or consequential damages to Certificateholders (ii) any state, local or franchise taxes imposed upon in addition to payment of principal and interest on the Trust Estate as a result of the location of the Servicer, the Servicer shall indemnify the Trust Estate against any and all Losses resulting from such negligence, including, without limitation, any reasonable attorneys' fees imposed on or incurred as a result of a breach of the Servicer's covenantsCertificates).

Servicer and Trustee Indemnification. (a) In the event that any Trust REMIC created hereunder fails to qualify as a REMIC, loses its status as a REMIC, or incurs federal, state or local taxes as a result of a prohibited transaction or prohibited contribution under the REMIC Provisions due solely to (i) the negligent performance by the Trustee of its duties and obligations set forth herein or (ii) any state, local or franchise taxes imposed upon the Trust Estate Fund as a result of the location of the Trustee or any co-trustee, the Trustee shall indemnify the NIMS Insurer, the Servicer and the Trust Estate Fund against any and all losses, claims, damages, liabilities or expenses ("Losses") Losses resulting from such negligence, including, without limitation, any reasonable attorneys' fees imposed on or incurred as a result of a breach of the Trustee's or any co-trustee's covenants; PROVIDED, HOWEVER, that the Trustee shall not be liable for any such Losses attributable to the action or inaction of the Servicer, the Depositor or the Holder of such Residual Certificate, as applicable, nor for any such Losses resulting from misinformation provided by the Holder of such Residual Certificate on which the Trustee has relied. In The foregoing shall not be deemed to limit or restrict the rights and remedies of the Holder of such Residual Certificate now or hereafter existing at law or in equity. Notwithstanding the foregoing, however, in no event shall the Trustee have any liability (1) for any action or omission that any REMIC created hereunder fails to qualify as a REMIC, loses its status as a REMICis taken in accordance with and in compliance with the express terms of, or incurs federalwhich is expressly permitted by the terms of, state or local taxes as a result this Agreement, (2) for any Losses other than arising out of a prohibited transaction or prohibited contribution under the REMIC Provisions due solely to (i) the negligent performance by the Servicer Trustee of its duties and obligations set forth herein herein, and (3) for any special or consequential damages to Certificateholders (ii) any state, local or franchise taxes imposed upon in addition to payment of principal and interest on the Trust Estate as a result of the location of the Servicer, the Servicer shall indemnify the Trust Estate against any and all Losses resulting from such negligence, including, without limitation, any reasonable attorneys' fees imposed on or incurred as a result of a breach of the Servicer's covenantsCertificates).

Servicer and Trustee Indemnification. (a) In the event that any Trust REMIC created hereunder fails to qualify as a REMIC, loses its status as a REMIC, or incurs federal, state or local taxes as a result of a prohibited transaction or prohibited contribution under the REMIC Provisions due solely to (i) the negligent performance by the Trustee of its duties and obligations set forth herein or (ii) any state, local or franchise taxes imposed upon the Trust Estate Fund as a result of the location of the Trustee or any co-trustee, the Trustee shall indemnify the NIMS Insurer and the Trust Estate Fund against any and all losses, claims, damages, liabilities or expenses ("Losses") Losses resulting from such negligence, including, without limitation, any reasonable attorneys' fees imposed on or incurred as a result of a breach of the Trustee's or any co-trustee's covenants; provided, however, that the Trustee shall not be liable for any such Losses attributable to the action or inaction of the Servicer, the Depositor or the Holder of such Residual Certificate, as applicable, nor for any such Losses resulting from misinformation provided by the Holder of such Residual Certificate on which the Trustee has relied. In The foregoing shall not be deemed to limit or restrict the rights and remedies of the Holder of such Residual Certificate now or hereafter existing at law or in equity. Notwithstanding the foregoing, however, in no event shall the Trustee have any liability (1) for any action or omission that any REMIC created hereunder fails to qualify as a REMIC, loses its status as a REMICis taken in accordance with and in compliance with the express terms of, or incurs federalwhich is expressly permitted by the terms of, state or local taxes as a result this Agreement, (2) for any Losses other than arising out of a prohibited transaction or prohibited contribution under the REMIC Provisions due solely to (i) the negligent performance by the Servicer Trustee of its duties and obligations set forth herein herein, and (3) for any special or consequential damages to Certificateholders (ii) any state, local or franchise taxes imposed upon in addition to payment of principal and interest on the Trust Estate as a result of the location of the Servicer, the Servicer shall indemnify the Trust Estate against any and all Losses resulting from such negligence, including, without limitation, any reasonable attorneys' fees imposed on or incurred as a result of a breach of the Servicer's covenantsCertificates).