Servicer to Pay Trustee's Fees and Expenses. The Servicer shall pay to the Trustee from time to time, and the Trustee shall be entitled to, reasonable compensation (which shall not be limited by any provision of law in regard to the compensation of a trustee of an express trust) for all services rendered by it in the execution of the trusts hereby created and in the exercise and performance of any of the powers and duties hereunder of the Trustee, and the Servicer shall pay or reimburse the Trustee upon its request for all reasonable expenses, disbursements and advances incurred or made by the Trustee in accordance with any of the provisions of this Agreement, except any such expense, disbursement or advance as may arise from its negligence or bad faith or which is the responsibility of a Certificateholder or Certificateholders hereunder. If the Trustee is appointed as successor Servicer pursuant to Section 8.2, the provisions of this Section 9.5 shall not apply to expenses, disbursements or advances made or incurred by the Trustee in its capacity as successor Servicer. The Servicer shall indemnify the Trustee for, and hold it harmless against, any loss, liability or expense incurred without negligence or bad faith on the Trustee's part, arising out of or in connection with the acceptance or administration by the Trustee of the trust or trusts hereunder, including the costs and expenses of defending itself against any claim or liability in connection with the exercise or performance of any of its powers or duties hereunder. If and for so long as the successor Servicer is the Trustee, all references in this Section 9.5 to the Servicer shall be deemed to refer to Chevy Chase Bank, F.S.B. notwithstanding the appointment of such successor Servicer.
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (Chevy Chase Bank FSB), Pooling and Servicing Agreement (Chevy Chase Bank FSB), Pooling and Servicing Agreement (Capitol Revolving Home Equity Loan Trust 1996-1)
Servicer to Pay Trustee's Fees and Expenses. The Servicer agrees:
(a) that the Servicer shall pay to the Trustee from time to time, reasonable compensation on each Remittance Date for all services rendered by it hereunder (which compensation is set forth in a prior agreement between the Servicer and the Trustee shall be entitled to, reasonable compensation (which shall not be limited by any provision of law in regard to the compensation of a trustee of an express trust);
(b) for all services rendered except as otherwise expressly provided herein, that the Servicer shall reimburse the Trustee on each Remittance Date, to the extent requested by it in the execution of the trusts hereby created and in the exercise and performance of any of the powers and duties hereunder of the Trustee, and the Servicer shall pay or reimburse the Trustee upon its request for all reasonable expenses, disbursements and advances incurred or made by the Trustee in accordance with any of the provisions of this AgreementAgreement (including the reasonable compensation and the expenses and disbursements of it agents and counsel), except any such expense, disbursement or advance as may arise from be attributable to its negligence or bad faith or which is the responsibility of a Certificateholder or Certificateholders hereunder. If the Trustee is appointed as successor Servicer pursuant faith; and
(c) to Section 8.2, the provisions of this Section 9.5 shall not apply to expenses, disbursements or advances made or incurred by the Trustee in its capacity as successor Servicer. The Servicer shall indemnify the Trustee for, and to hold it harmless against, any loss, liability or expense incurred without negligence or bad faith on the Trustee's its part, arising out of or in connection with the acceptance or administration by the Trustee of the trust or trusts Trust and its duties hereunder, including the costs and expenses of defending itself against any claim or liability in connection with the exercise or performance of any of its powers or duties hereunder including the costs and expenses of defending itself against any claim or liability in connection with the exercise or performance of any of the Trustee's powers or duties hereunder. If and for so long as the successor Servicer is the Trustee, all references The covenants in this Section 9.5 to the Servicer 11.05 shall be deemed to refer to Chevy Chase Bankfor the benefit of the Trustee in its capacities as Trustee, F.S.B. notwithstanding Paying Agent and Certificate Registrar hereunder, and shall survive the appointment termination of such successor Servicerthis Agreement.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Cit Group Securitization Corp Ii)
Servicer to Pay Trustee's Fees and Expenses. The Servicer shall pay to the Trustee from time to time, and the Trustee shall be entitled to, reasonable compensation (which shall not be limited by any provision of law in regard to the compensation of a trustee of an express trust) for all services rendered by it in the execution of the trusts hereby created and in the exercise and performance of any of the powers and duties hereunder of the Trustee, and the Servicer shall pay or reimburse the Trustee upon its request for all reasonable expenses, disbursements and advances incurred or made by the Trustee in accordance with any of the provisions of this Agreement, except any such expense, disbursement or advance as may arise from its negligence or bad faith or which is the responsibility of a Certificateholder or Certificateholders hereunder. If the Trustee is appointed as successor Servicer pursuant to Section 8.2, the provisions of this Section 9.5 shall not apply to expenses, disbursements or advances made or incurred by the Trustee in its capacity as successor Servicer. The Servicer shall indemnify Indemnify the Trustee for, and hold it harmless against, any loss, liability or expense incurred without negligence or bad faith on the Trustee's part, arising out of or in connection with the acceptance or administration by the Trustee of the trust or trusts hereunder, including the costs and expenses of defending itself against any claim or liability in connection with the exercise or performance of any of its powers or duties hereunder. If and for so long as the successor Servicer is the Trustee, all references in this Section 9.5 to the Servicer shall be deemed to refer to Chevy Chase Bank, F.S.B. F.B.B. notwithstanding the appointment of such successor Servicer.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Chevy Chase Bank FSB)