Common use of SUCCESSOR GRANTOR TRUSTEE Clause in Contracts

SUCCESSOR GRANTOR TRUSTEE. Any successor trustee appointed as provided in Section 6.07 shall execute, acknowledge and deliver to the Grantor Trust Holder, the Depositor and to its predecessor trustee an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the predecessor trustee shall become effective, and such successor trustee, without any further act, deed or reconveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor hereunder, with like effect as if originally named as trustee herein. The predecessor trustee shall deliver to the successor trustee documents and statements relating to the Grantor Trust Estate held by it hereunder, and the Depositor and the predecessor trustee shall execute and deliver such instruments and do such other things as may reasonably be required for more fully and certainly vesting and confirming in the successor trustee all such rights, powers, duties and obligations. No successor trustee shall accept appointment as provided in this Section unless at the time of such acceptance such successor trustee shall be eligible under the provisions of Section 6.06. Upon acceptance of appointment by a successor trustee as provided in this Section, the Grantor Trustee shall mail notice of the succession of such trustee hereunder to the Grantor Trust Holder at its address as shown in the Certificate Register. If the Grantor Trustee fails to mail such notice within ten days after acceptance of the successor trustee, the successor trustee shall cause such notice to be mailed at the expense of the Grantor Trustee.

SUCCESSOR GRANTOR TRUSTEE. (a) Any successor trustee Grantor Trustee appointed as provided in Section 6.07 6.06 shall execute, acknowledge and deliver to the Grantor Trust Holder, the Depositor and to its predecessor trustee Grantor Trustee an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the predecessor trustee Grantor Trustee shall become effective, effective and such successor trusteeGrantor Trustee shall become effective and such successor Grantor Trustee, without any further act, deed or reconveyanceconveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor hereunder, with the like effect as if originally named as trustee Grantor Trustee herein. The predecessor trustee Grantor Trustee shall deliver to the successor trustee Grantor Trustee all Mortgage Files and related documents and statements relating to the Grantor Trust Estate held by it hereunder (other than any Mortgage Files at the time held by a Custodian, which shall become the agent of any successor Grantor Trustee hereunder), and the Depositor Depositor, the Master Servicer and the predecessor trustee Grantor Trustee shall execute and deliver such instruments and do such other things as may reasonably be required for more fully and certainly vesting and confirming in the successor trustee Grantor Trustee all such rights, powers, duties and obligations. No successor trustee shall accept appointment as provided in this Section unless at the time of such acceptance such successor trustee shall be eligible under the provisions of Section 6.06. Upon acceptance of appointment by a successor trustee as provided in this Section, the Grantor Trustee shall mail notice of the succession of such trustee hereunder to the Grantor Trust Holder at its address as shown in the Certificate Register. If the Grantor Trustee fails to mail such notice within ten days after acceptance of the successor trustee, the successor trustee shall cause such notice to be mailed at the expense of the Grantor Trustee.

SUCCESSOR GRANTOR TRUSTEE. (a) Any successor trustee Grantor Trustee appointed as provided in Section 6.07 6.06 shall execute, acknowledge and deliver to the Grantor Trust Holder, the Depositor and to its predecessor trustee Grantor Trustee an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the predecessor trustee Grantor Trustee shall become effective, effective and such successor trusteeGrantor Trustee shall become effective and such successor Grantor Trustee, without any further act, deed or reconveyanceconveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor hereunder, with the like effect as if originally named as trustee Grantor Trustee herein. The predecessor trustee Grantor Trustee shall deliver to the successor trustee Grantor Trustee all Mortgage Files and related documents and statements relating to the Grantor Trust Estate held by it hereunder (other than any Mortgage Files at the time held by a Custodian, which shall become the agent of any successor Grantor Trustee hereunder), and the Depositor Depositor, the Securities Administrator and the predecessor trustee Grantor Trustee shall execute and deliver such instruments and do such other things as may reasonably be required for more fully and certainly vesting and confirming in the successor trustee Grantor Trustee all such rights, powers, duties and obligations. (b) No successor trustee Grantor Trustee shall accept appointment as provided in this Section unless at the time of such acceptance such successor trustee Grantor Trustee shall be eligible under the provisions of Section 6.06. Upon acceptance of appointment by a successor trustee as provided in this Section, the Grantor Trustee shall mail notice of the succession of such trustee hereunder to the Grantor Trust Holder at its address as shown in the Certificate Register. If the Grantor Trustee fails to mail such notice within ten days after acceptance of the successor trustee, the successor trustee shall cause such notice to be mailed at the expense of the Grantor Trustee6.05.

SUCCESSOR GRANTOR TRUSTEE. (a) Any successor trustee Grantor Trustee appointed as provided in Section 6.07 6.06 shall execute, acknowledge and deliver to the Grantor Trust Holder, the Depositor and to its predecessor trustee Grantor Trustee an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the predecessor trustee Grantor Trustee shall become effective, effective and such successor trusteeGrantor Trustee shall become effective and such successor Grantor Trustee, without any further act, deed or reconveyanceconveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor hereunder, with the like effect as if originally named as trustee Grantor Trustee herein. The predecessor trustee Grantor Trustee shall deliver to the successor trustee Grantor Trustee all Mortgage Files and related documents and statements relating to the Grantor Trust Estate held by it hereunder (other than any Mortgage Files at the time held by a Custodian, which shall become the agent of any successor Grantor Trustee hereunder), and the Depositor Depositor, the Securities Administrator and the predecessor trustee Grantor Trustee shall execute and deliver such instruments and do such other things as may reasonably be required for more fully and certainly vesting and confirming in the successor trustee Grantor Trustee all such rights, powers, duties and obligations. No successor trustee shall accept appointment as provided in this Section unless at the time of such acceptance such successor trustee shall be eligible under the provisions of Section 6.06. Upon acceptance of appointment by a successor trustee as provided in this Section, the Grantor Trustee shall mail notice of the succession of such trustee hereunder to the Grantor Trust Holder at its address as shown in the Certificate Register. If the Grantor Trustee fails to mail such notice within ten days after acceptance of the successor trustee, the successor trustee shall cause such notice to be mailed at the expense of the Grantor Trustee.

SUCCESSOR GRANTOR TRUSTEE. (a) Any successor trustee Grantor Trustee appointed as provided in Section 6.07 6.06 shall execute, acknowledge and deliver to the Grantor Trust Holder, the Depositor and to its predecessor trustee Grantor Trustee an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the predecessor trustee Grantor Trustee shall become effective, effective and such successor trusteeGrantor Trustee shall become effective and such successor Grantor Trustee, without any further act, deed or reconveyanceconveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor hereunder, with the like effect as if originally named as trustee Grantor Trustee herein. The predecessor trustee Grantor Trustee shall deliver to the successor trustee Grantor Trustee all Loan Files and related documents and statements relating to the Grantor Trust Estate held by it hereunder (other than any Loan Files at the time held by a Custodian, which shall become the agent of any successor Grantor Trustee hereunder), and the Depositor Depositor, the Master Servicer and the predecessor trustee Grantor Trustee shall execute and deliver such instruments and do such other things as may reasonably be required for more fully and certainly vesting and confirming in the successor trustee Grantor Trustee all such rights, powers, duties and obligations. No successor trustee shall accept appointment as provided in this Section unless at the time of such acceptance such successor trustee shall be eligible under the provisions of Section 6.06. Upon acceptance of appointment by a successor trustee as provided in this Section, the Grantor Trustee shall mail notice of the succession of such trustee hereunder to the Grantor Trust Holder at its address as shown in the Certificate Register. If the Grantor Trustee fails to mail such notice within ten days after acceptance of the successor trustee, the successor trustee shall cause such notice to be mailed at the expense of the Grantor Trustee.

SUCCESSOR GRANTOR TRUSTEE. Any successor trustee appointed as provided in Section 6.07 shall execute, acknowledge and deliver to the Grantor Trust Holder, the Depositor Depositor, the Securities Insurer and to its predecessor trustee an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the predecessor trustee shall become effective, and such successor trustee, without any further act, deed or reconveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor hereunder, with like effect as if originally named as trustee herein. The predecessor trustee shall deliver to the successor trustee documents and statements relating to the Grantor Trust Estate held by it hereunder, and the Depositor and the predecessor trustee shall execute and deliver such instruments and do such other things as may reasonably be required for more fully and certainly vesting and confirming in the successor trustee all such rights, powers, duties and obligations. No successor trustee shall accept appointment as provided in this Section unless at the time of such acceptance such successor trustee shall be eligible under the provisions of Section 6.06. Upon acceptance of appointment by a successor trustee as provided in this Section, the Grantor Trustee shall mail notice of the succession of such trustee hereunder to the Grantor Trust Holder at its address as shown in the Certificate Register. If the Grantor Trustee fails to mail such notice within ten days after acceptance of the successor trustee, the successor trustee shall cause such notice to be mailed at the expense of the Grantor Trustee.