Successor Trustee or Securities Administrator. Any successor trustee or successor securities administrator appointed as provided in Section 9.07 of this Agreement shall execute, acknowledge and deliver to the Depositor and its predecessor trustee or predecessor securities administrator an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the predecessor trustee or predecessor securities administrator shall become effective and such successor trustee or successor securities administrator without any further act, deed or conveyance, 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 or securities administrator herein. The predecessor trustee or predecessor securities administrator shall deliver to the successor trustee or successor securities administrator all Mortgage Loan Documents and related documents and statements to the extent held by it hereunder, as well as all monies, held by it hereunder, and the Depositor and the predecessor trustee or predecessor securities administrator 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 or successor securities administrator all such rights, powers, duties and obligations. No successor trustee or successor securities administrator shall accept appointment as provided in this Section unless at the time of such acceptance such successor trustee or successor securities administrator shall be eligible under the provisions of Section 9.06 and the appointment of such successor trustee or successor securities administrator shall not result in a downgrading of any Class of Certificates by any Rating Agency, as evidenced by a letter from each Rating Agency. Upon acceptance of appointment by a successor trustee or successor securities administrator as provided in this Section, the Depositor shall mail notice of the succession of such trustee hereunder to all Holders of Certificates at their addresses as shown in the Certificate Register. If the Depositor fails to mail such notice within ten (10) days after acceptance of appointment by the successor trustee or successor securities administrator, the successor trustee or successor securities administrator shall cause such notice to be mailed at the expense of the Depositor.
Appears in 29 contracts
Samples: Pooling and Servicing Agreement (ACE Securities Corp. Home Equity Loan Trust, Series 2006-Cw1), Pooling and Servicing Agreement (ACE Securities Corp. Home Equity Loan Trust, Series 2006-He4), Pooling and Servicing Agreement (ACE Securities Corp. Home Equity Loan Trust, Series 2006-Nc3)
Successor Trustee or Securities Administrator. Any successor trustee Trustee or successor securities administrator Securities Administrator appointed as provided in Section 9.07 of this Agreement 9.06 shall execute, acknowledge and deliver to the Depositor Master Servicer and to its predecessor trustee Trustee or predecessor securities administrator Securities Administrator, as applicable, an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the predecessor trustee Trustee or predecessor securities administrator Securities Administrator shall become effective and such successor trustee Trustee or successor securities administrator Securities Administrator, as the case may be, without any further act, deed or conveyance, 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 Trustee or securities administrator Securities Administrator, as applicable, herein. The predecessor trustee Trustee or predecessor securities administrator Securities Administrator shall duly assign, transfer, deliver and pay over to the successor trustee Trustee or successor securities administrator all Securities Administrator, as the case may be, the whole of the Mortgage Loan Documents Files and related documents and statements to the extent held by it hereunder, together with all instruments of transfer and assignment or other documents properly executed as well may be reasonably required to effect such transfer and such of the records or copies thereof maintained by the predecessor Trustee or Securities Administrator in the administration hereof as all moniesmay be reasonably requested by the successor Trustee or Securities Administrator, held by it hereunderas the case may be, and the Depositor shall thereupon be discharged from all duties and responsibilities under this Agreement; provided, however, that if the predecessor trustee Trustee or Securities Administrator has been removed pursuant to the third paragraph of Section 9.06, all reasonable expenses of the predecessor securities administrator Trustee or Securities Administrator incurred in complying with this Section 9.07 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 reimbursed by the successor trustee or successor securities administrator all such rights, powers, duties and obligationsTrust. No successor trustee Trustee or successor securities administrator Securities Administrator shall accept appointment as provided in this Section 9.07 unless at the time of such acceptance appointment such successor trustee Trustee or successor securities administrator Securities Administrator, as the case may be, shall be eligible under the provisions of Section 9.06 and the appointment of such successor trustee or successor securities administrator shall not result in a downgrading of any Class of Certificates by any Rating Agency, as evidenced by a letter from each Rating Agency9.05. Upon acceptance of appointment by a successor trustee Trustee or successor securities administrator Securities Administrator, as applicable, as provided in this SectionSection 9.07, the Depositor Master Servicer shall cooperate to mail notice of the succession of such trustee Trustee or Securities Administrator, as the case may be, hereunder to all Holders of Certificates at their addresses as shown in the Certificate RegisterRegister and to each Rating Agency. If the Depositor Master Servicer fails to mail such notice within ten (10) days after acceptance of appointment by the successor trustee Trustee or successor securities administratorSecurities Administrator, the successor trustee Trustee or successor securities administrator Securities Administrator, as the case may be, shall cause such notice to be mailed at the expense of the DepositorMaster Servicer.
Appears in 20 contracts
Samples: Pooling and Servicing Agreement (Banc of America Funding Corp), Pooling and Servicing Agreement (Banc of America Funding 2006-5 Trust), Pooling and Servicing Agreement (Banc of America Funding 2006-4 Trust)
Successor Trustee or Securities Administrator. Any successor trustee or successor securities administrator appointed as provided in Section 9.07 of this Agreement shall execute, acknowledge and deliver to the Depositor and its predecessor trustee or predecessor securities administrator an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the predecessor trustee or predecessor securities administrator shall become effective and such successor trustee or successor securities administrator without any further act, deed or conveyance, 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 or securities administrator herein. The predecessor trustee or predecessor securities administrator shall deliver to the successor trustee or successor securities administrator all Mortgage Loan Documents and related documents and statements to the extent held by it hereunder, as well as all moniesmoneys, held by it hereunder, and the Depositor and the predecessor trustee or predecessor securities administrator 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 or successor securities administrator all such rights, powers, duties and obligations. No successor trustee or successor securities administrator shall accept appointment as provided in this Section unless at the time of such acceptance such successor trustee or successor securities administrator shall be eligible under the provisions of Section 9.06 8.06 and the appointment of such successor trustee or successor securities administrator shall not result in a downgrading of any Class of Certificates by any Rating Agency, as evidenced by a letter from each Rating Agency. Upon acceptance of appointment by a successor trustee or successor securities administrator as provided in this Section, the Depositor shall mail notice of the succession of such trustee hereunder to all Holders of Certificates at their addresses as shown in the Certificate Register. If the Depositor fails to mail such notice within ten (10) 10 days after acceptance of appointment by the successor trustee or successor securities administrator, the successor trustee or successor securities administrator shall cause such notice to be mailed at the expense of the Depositor.
Appears in 20 contracts
Samples: Pooling and Servicing Agreement (ACE Securities Corp Home Equity Loan Trust 2005-Rm2), Pooling and Servicing Agreement (Home Equity Loan Trust Series 2004-Hs1), Pooling and Servicing Agreement (Ace Securities Corp Terwin Mort Trust Series TMTS 2003 6he)
Successor Trustee or Securities Administrator. Any successor trustee or successor securities administrator appointed as provided in Section 9.07 of this Agreement shall execute, acknowledge and deliver to the Depositor and its predecessor trustee or predecessor securities administrator an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the predecessor trustee or predecessor securities administrator shall become effective and such successor trustee or successor securities administrator without any further act, deed or conveyance, 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 or securities administrator herein. The predecessor trustee or predecessor securities administrator shall deliver to the successor trustee or successor securities administrator all Mortgage Loan Documents and related documents and statements to the extent held by it hereunder, as well as all monies, held by it hereunder, and the Depositor and the predecessor trustee or predecessor securities administrator 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 or successor securities administrator all such rights, powers, duties and obligations. No successor trustee or successor securities administrator shall accept appointment as provided in this Section unless at the time of such acceptance such successor trustee or successor securities administrator shall be eligible under the provisions of Section 9.06 and the appointment of such successor trustee or successor securities administrator shall not result in a downgrading of any Class of Certificates by any Rating Agency, as evidenced by a letter from each Rating Agency. Upon acceptance of appointment by a successor trustee or successor securities administrator as provided in this Section, the Depositor shall mail notice of the succession of such trustee hereunder to all Holders of Certificates at their addresses as shown in the Certificate Register. If the Depositor fails to mail such notice within ten (10) days after acceptance of appointment by the successor trustee or successor securities administrator, the successor trustee or successor securities administrator shall cause such notice to be mailed at the expense of the Depositor.
Appears in 19 contracts
Samples: Pooling and Servicing Agreement (NAAC Alternative Loan Trust, Series 2005-Wf1), Pooling and Servicing Agreement (ACE Securities Corp. Home Equity Loan Trust, Series 2006-Asap3), Pooling and Servicing Agreement (ACE Securities Corp. Home Equity Loan Trust, Series 2006-Asl1)
Successor Trustee or Securities Administrator. Any successor trustee or successor securities administrator appointed as provided in Section 9.07 of this Agreement 8.7 shall execute, acknowledge and deliver to the Depositor and its predecessor trustee or predecessor securities administrator an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the predecessor trustee or predecessor securities administrator shall become effective and such successor trustee or successor securities administrator without any further act, deed or conveyance, 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 or securities administrator herein. The predecessor trustee or predecessor securities administrator shall deliver to the successor trustee or successor securities administrator all Mortgage Loan Documents and related documents and statements to the extent held by it hereunder, as well as all moniesmoneys, held by it hereunder, and the Depositor and the predecessor trustee or predecessor securities administrator 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 or successor securities administrator all such rights, powers, duties and obligations. No successor trustee or successor securities administrator shall accept appointment as provided in this Section unless at the time of such acceptance such successor trustee or successor securities administrator shall be eligible under the provisions of Section 9.06 8.6 and the appointment of such successor trustee or successor securities administrator shall not result in a downgrading of any Class of Certificates by any Rating Agency, as evidenced by a letter from each Rating Agency. Upon acceptance of appointment by a successor trustee or successor securities administrator as provided in this Section, the Depositor shall mail notice of the succession of such trustee hereunder to all Holders of Certificates at their addresses as shown in the Certificate Register. If the Depositor fails to mail such notice within ten (10) 10 days after acceptance of appointment by the successor trustee or successor securities administrator, the successor trustee or successor securities administrator shall cause such notice to be mailed at the expense of the Depositor.
Appears in 16 contracts
Samples: Pooling and Servicing Agreement (Deutsche Alt-a Securities Inc), Pooling and Servicing Agreement (Deutsche Alt-a Securities Mortgage Loan Trust, Series 2006-Ar2), Pooling and Servicing Agreement (Deutsche Alt-a Securities Mortgage Loan Trust, Series 2006-Ar2)
Successor Trustee or Securities Administrator. Any successor trustee or successor securities administrator appointed as provided in Section 9.07 of this Agreement hereof shall execute, acknowledge and deliver to the Depositor and to its predecessor trustee or predecessor securities administrator an instrument accepting such appointment hereunder, hereunder and thereupon the resignation or removal of the predecessor trustee or predecessor securities administrator shall become effective and such successor trustee or successor securities administrator administrator, without any further act, deed or conveyance, 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 or securities administrator herein. The predecessor trustee or predecessor securities administrator shall deliver to the successor trustee or successor securities administrator all Mortgage Loan Documents and related documents and statements to the extent held by it hereunder, as well as all monies, held by it hereunder, and the Depositor and the predecessor trustee or predecessor securities administrator 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 or successor securities administrator all such rights, powers, duties and obligations. No successor trustee or successor securities administrator shall accept appointment as provided in this Section 9.08 unless at the time of such acceptance such successor trustee or successor securities administrator shall be eligible under the provisions of Section 9.06 9.07 hereof and the its appointment of such successor trustee or successor securities administrator shall not result in a downgrading adversely affect the then current rating of any Class of Certificates by any Rating Agency, as evidenced by a letter from each Rating Agencythe Certificates. Upon acceptance of appointment by a successor trustee or successor securities administrator as provided in this SectionSection 9.08, the Depositor successor trustee or successor securities administrator shall mail notice of the succession of such trustee or securities administrator hereunder to all Holders of Certificates at their addresses as shown in the Certificate RegisterCertificates. If the Depositor successor trustee or successor securities administrator fails to mail such notice within ten (10) days after acceptance of appointment by the successor trustee or successor securities administratorappointment, the successor trustee or successor securities administrator Depositor shall cause such notice to be mailed at the expense of the DepositorTrust Fund.
Appears in 12 contracts
Samples: Pooling and Servicing Agreement (Nomura Asset Acceptance Corporation, Alternative Loan Trust, Series 2006-Ar2), Pooling and Servicing Agreement (Nomura Asset Acceptance Corporation, Alternative Loan Trust, Series 2006-Ar3), Pooling and Servicing Agreement (Nomura Asset Acceptance Corporation, Alternative Loan Trust, Series 2006-Ar4)
Successor Trustee or Securities Administrator. Any successor trustee or successor securities administrator appointed as provided in Section 9.07 of this Agreement hereof shall execute, acknowledge and deliver to the Depositor and to its predecessor trustee or predecessor securities administrator an instrument accepting such appointment hereunder, hereunder and thereupon the resignation or removal of the predecessor trustee or predecessor securities administrator shall become effective and such successor trustee or successor securities administrator administrator, without any further act, deed or conveyance, 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 or securities administrator Securities Administrator herein. The predecessor trustee or predecessor securities administrator shall deliver to the successor trustee or successor securities administrator all Mortgage Loan Documents and related documents and statements to the extent held by it hereunder, as well as all monies, held by it hereunder, and the Depositor and the predecessor trustee or predecessor securities administrator 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 or successor securities administrator all such rights, powers, duties and obligations. No successor trustee or successor securities administrator shall accept appointment as provided in this Section 9.08 unless at the time of such acceptance such successor trustee or successor securities administrator shall be eligible under the provisions of Section 9.06 9.07 hereof and the its appointment of such successor trustee or successor securities administrator shall not result in a downgrading adversely affect the then current rating of any Class of Certificates by any Rating Agency, as evidenced by a letter from each Rating Agencythe Certificates. Upon acceptance of appointment by a successor trustee or successor securities administrator as provided in this SectionSection 9.08, the Depositor successor trustee or successor securities administrator shall mail notice of the succession of such trustee or securities administrator hereunder to all Holders of Certificates at their addresses as shown in the Certificate RegisterCertificates. If the Depositor successor trustee or successor securities administrator fails to mail such notice within ten (10) days after acceptance of appointment by the successor trustee or successor securities administratorappointment, the successor trustee or successor securities administrator Depositor shall cause such notice to be mailed at the expense of the DepositorTrust Fund.
Appears in 12 contracts
Samples: Pooling and Servicing Agreement (Nomura Home Equity Loan, Inc., Home Equity Loan Trust, Series 2006-He1), Pooling and Servicing Agreement (Nomura Home Equity Loan, Inc., Home Equity Loan Trust, Series 2006-Fm2), Pooling and Servicing Agreement (Nomura Asset Acceptance Corp. Series 2005-Ar5)
Successor Trustee or Securities Administrator. Any successor trustee Trustee or successor securities administrator Securities Administrator appointed as provided in Section 9.07 of this Agreement 9.06 shall execute, acknowledge and deliver to the Depositor Master Servicer and to its predecessor trustee Trustee or predecessor securities administrator Securities Administrator, as applicable, an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the predecessor trustee Trustee or predecessor securities administrator Securities Administrator shall become effective and such successor trustee Trustee or successor securities administrator Securities Administrator, as the case may be, without any further act, deed or conveyance, 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 Trustee or securities administrator Securities Administrator, as applicable, herein. The predecessor trustee Trustee or predecessor securities administrator Securities Administrator shall duly assign, transfer, deliver and pay over to the successor trustee Trustee or successor securities administrator all Securities Administrator, as the case may be, the whole of the Mortgage Loan Documents Files and related documents and statements to the extent held by it hereunder, together with all instruments of transfer and assignment or other documents properly executed as well may be reasonably required to effect such transfer and such of the records or copies thereof maintained by the predecessor Trustee or Securities Administrator in the administration hereof as all moniesmay be reasonably requested by the successor Trustee or Securities Administrator, held by it hereunderas the case may be, and the Depositor shall thereupon be discharged from all duties and responsibilities under this Agreement; provided, however, that if the predecessor trustee Trustee or Securities Administrator has been removed pursuant to the third paragraph of Section 9.06, all reasonable expenses of the predecessor securities administrator Trustee or Securities Administrator incurred in complying with this Section 9.07 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 reimbursed by the successor trustee or successor securities administrator all such rights, powers, duties and obligationsTrust. No successor trustee Trustee or successor securities administrator Securities Administrator shall accept appointment as provided in this Section 9.07 unless at the time of such acceptance appointment such successor trustee Trustee or successor securities administrator Securities Administrator, as the case may be, shall be eligible under the provisions of Section 9.06 and the appointment of such successor trustee or successor securities administrator shall not result in a downgrading of any Class of Certificates by any Rating Agency, as evidenced by a letter from each Rating Agency9.05. Upon acceptance of appointment by a successor trustee Trustee or successor securities administrator Securities Administrator, as applicable, as provided in this SectionSection 9.07, the Depositor Master Servicer shall cooperate to mail notice of the succession of such trustee Trustee or Securities Administrator, as the case may be, hereunder to the NIMS Insurer, all Holders of Certificates at their addresses as shown in the Certificate RegisterRegister and to each Rating Agency. If the Depositor Master Servicer fails to mail such notice within ten (10) days after acceptance of appointment by the successor trustee Trustee or successor securities administratorSecurities Administrator, the successor trustee Trustee or successor securities administrator Securities Administrator, as the case may be, shall cause such notice to be mailed at the expense of the DepositorMaster Servicer.
Appears in 11 contracts
Samples: Pooling and Servicing Agreement (Banc of America Funding Corp), Pooling and Servicing Agreement (Banc of America Funding 2006-7 Trust), Pooling and Servicing Agreement (Banc of America Funding Corp. Mortgage Pass-Through Certificates Series 2005-A)
Successor Trustee or Securities Administrator. Any successor trustee or successor securities administrator appointed as provided in Section 9.07 of this Agreement 8.7 shall execute, acknowledge and deliver to the Depositor and its predecessor trustee or predecessor securities administrator an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the predecessor trustee or predecessor securities administrator shall become effective and such successor trustee or successor securities administrator without any further act, deed or conveyance, 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 or securities administrator herein. The predecessor trustee or predecessor securities administrator shall deliver to the successor trustee or successor securities administrator all Mortgage Loan Documents and related documents and statements to the extent held by it hereunder, as well as all moniesmoneys, held by it hereunder, and the Depositor and the predecessor trustee or predecessor securities administrator 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 or successor securities administrator all such rights, powers, duties and obligations. No successor trustee or successor securities administrator shall accept appointment as provided in this Section unless at the time of such acceptance such successor trustee or successor securities administrator shall be eligible under the provisions of Section 9.06 8.6 and the appointment of such successor trustee or successor securities administrator shall not result in a downgrading of any Class of Certificates by any Rating Agency, as evidenced by a letter from each Rating Agency. Upon acceptance of appointment by a successor trustee or successor securities administrator as provided in this Section, the Depositor shall mail notice of the succession of such trustee hereunder to all Holders of the related Certificates at their addresses as shown in the Certificate Register. If the Depositor fails to mail such notice within ten (10) 10 days after acceptance of appointment by the successor trustee or successor securities administrator, the successor trustee or successor securities administrator shall cause such notice to be mailed at the expense of the Depositor.
Appears in 8 contracts
Samples: Pooling and Servicing Agreement (Deutsche Alt-a Securities, Inc. Mortgage Loan Trust, Series 2005-Ar1), Pooling and Servicing Agreement (Deutsche Alt-a Securities, Inc. Mortgage Loan Trust, Series 2005-3), Pooling and Servicing Agreement (Deutsche Alt-a Securities, Inc. Mortgage Loan Trust, Series 2006-Ar1)
Successor Trustee or Securities Administrator. Any successor trustee or successor securities administrator appointed as provided in Section 9.07 of this Agreement 9.7 shall execute, acknowledge and deliver to the Depositor and its predecessor trustee or predecessor securities administrator an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the predecessor trustee or predecessor securities administrator shall become effective and such successor trustee or successor securities administrator without any further act, deed or conveyance, 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 or securities administrator herein. The predecessor trustee or predecessor securities administrator shall deliver to the successor trustee or successor securities administrator all Mortgage Loan Documents and related documents and statements to the extent held by it hereunder, as well as all moniesmoneys, held by it hereunder, and the Depositor and the predecessor trustee or predecessor securities administrator 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 or successor securities administrator all such rights, powers, duties and obligations. No successor trustee or successor securities administrator shall accept appointment as provided in this Section unless at the time of such acceptance such successor trustee or successor securities administrator shall be eligible under the provisions of Section 9.06 9.6 and the appointment of such successor trustee or successor securities administrator shall not result in a downgrading of any Class of Certificates by any Rating Agency, as evidenced by a letter from each Rating Agency. Upon acceptance of appointment by a successor trustee or successor securities administrator as provided in this Section, the Depositor shall mail notice of the succession of such trustee hereunder to all Holders of Certificates at their addresses as shown in the Certificate Register. If the Depositor fails to mail such notice within ten (10) 10 days after acceptance of appointment by the successor trustee or successor securities administrator, the successor trustee or successor securities administrator shall cause such notice to be mailed at the expense of the Depositor.
Appears in 6 contracts
Samples: Pooling and Servicing Agreement (Deutsche Alt-a Securities Mortgage Loan Trust, Series 2006-Ar5), Pooling and Servicing Agreement (Deutsche Alt-a Securities Mortgage Loan Trust, Series 2006-Ar5), Pooling and Servicing Agreement (Deutsche Alt-a Securities Mortgage Loan Trust, Series 2006-Ar5)
Successor Trustee or Securities Administrator. Any successor trustee or successor securities administrator appointed as provided in Section 9.07 of this Agreement 8.07 shall execute, acknowledge and deliver to the Depositor and its predecessor trustee or predecessor securities administrator an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the predecessor trustee or predecessor securities administrator shall become effective and such successor trustee or successor securities administrator without any further act, deed or conveyance, 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 or securities administrator herein. The predecessor trustee or predecessor securities administrator shall deliver to the successor trustee or successor securities administrator all Mortgage Loan Documents and related documents and statements to the extent held by it hereunder, as well as all moniesmoneys, held by it hereunder, and the Depositor and the predecessor trustee or predecessor securities administrator 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 or successor securities administrator all such rights, powers, duties and obligations. No successor trustee or successor securities administrator shall accept appointment as provided in this Section unless at the time of such acceptance such successor trustee or successor securities administrator shall be eligible under the provisions of Section 9.06 8.06 and the appointment of such successor trustee or successor securities administrator shall not result in a downgrading of any Class of Certificates by any Rating Agency, as evidenced by a letter from each Rating Agency. Upon acceptance of appointment by a successor trustee or successor securities administrator as provided in this Section, the Depositor shall mail notice of the succession of such trustee hereunder to all Holders of Certificates at their addresses as shown in the Certificate Register. If the Depositor fails to mail such notice within ten (10) 10 days after acceptance of appointment by the successor trustee or successor securities administrator, the successor trustee or successor securities administrator shall cause such notice to be mailed at the expense of the Depositor.
Appears in 5 contracts
Samples: Pooling and Servicing Agreement (Ace Securities Corp), Pooling and Servicing Agreement (Ace Securities Corp Home Equity Loan Trust 2002- He1), Pooling and Servicing Agreement (Nomura Asset Acceptance Corp)
Successor Trustee or Securities Administrator. Any successor trustee or successor securities administrator appointed as provided in Section 9.07 of this Agreement 8.7 shall execute, acknowledge and deliver to the Depositor and its predecessor trustee or predecessor securities administrator an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the predecessor trustee or predecessor securities administrator shall become effective and such successor trustee or successor securities administrator without any further act, deed or conveyance, 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 or securities administrator herein. The predecessor trustee or predecessor securities administrator shall deliver to the successor trustee or successor securities administrator all Mortgage Loan Documents and related documents and statements to the extent held by it hereunder, as well as all moniesmoneys, held by it hereunder, and the Depositor and the predecessor trustee or predecessor securities administrator 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 or successor securities administrator all such rights, powers, duties and obligations. No successor trustee or successor securities administrator shall accept appointment as provided in this Section unless at the time of such acceptance such successor trustee or successor securities administrator shall be eligible under the provisions of Section 9.06 8.6 and the appointment of such successor trustee or successor securities administrator shall not result in a downgrading of any Class of Certificates by any Rating Agency, as evidenced by a letter from each Rating Agency. Upon acceptance of appointment by a successor trustee or successor securities administrator as provided in this Section, the Depositor shall mail notice of the succession of such trustee hereunder to all Holders of the related Certificates at their addresses as shown in the Certificate Register. If the Depositor fails to mail such notice within ten (10) days after acceptance of appointment by the successor trustee or successor securities administrator, the successor trustee or successor securities administrator shall cause such notice to be mailed at the expense of the Depositor.
Appears in 5 contracts
Samples: Pooling and Servicing Agreement (Deutsche Alt-a Securities, Inc. Mortgage Loan Trust, Series 2005-4), Pooling and Servicing Agreement (Deutsche Mortgage Securities Inc), Pooling and Servicing Agreement (Deutsche Alt-a Securities Inc)
Successor Trustee or Securities Administrator. Any successor trustee Trustee or successor securities administrator Securities Administrator appointed as provided in Section 9.07 of this Agreement 9.06 shall execute, acknowledge and deliver to the Depositor Master Servicers and to its predecessor trustee Trustee or predecessor securities administrator Securities Administrator, as applicable, an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the predecessor trustee Trustee or predecessor securities administrator Securities Administrator shall become effective and such successor trustee Trustee or successor securities administrator Securities Administrator, as the case may be, without any further act, deed or conveyance, 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 Trustee or securities administrator Securities Administrator, as applicable, herein. The predecessor trustee Trustee or predecessor securities administrator Securities Administrator shall duly assign, transfer, deliver and pay over to the successor trustee Trustee or successor securities administrator all Securities Administrator, as the case may be, the whole of the Mortgage Loan Documents Files and related documents and statements to the extent held by it hereunder, together with all instruments of transfer and assignment or other documents properly executed as well may be reasonably required to effect such transfer and such of the records or copies thereof maintained by the predecessor Trustee or Securities Administrator in the administration hereof as all moniesmay be reasonably requested by the successor Trustee or Securities Administrator, held by it hereunderas the case may be, and the Depositor shall thereupon be discharged from all duties and responsibilities under this Agreement; provided, however, that if the predecessor trustee Trustee or Securities Administrator has been removed pursuant to the third paragraph of Section 9.06, all reasonable expenses of the predecessor securities administrator Trustee or Securities Administrator incurred in complying with this Section 9.07 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 reimbursed by the successor trustee or successor securities administrator all such rights, powers, duties and obligationsTrust. No successor trustee Trustee or successor securities administrator Securities Administrator shall accept appointment as provided in this Section 9.07 unless at the time of such acceptance appointment such successor trustee Trustee or successor securities administrator Securities Administrator, as the case may be, shall be eligible under the provisions of Section 9.06 and the appointment of such successor trustee or successor securities administrator shall not result in a downgrading of any Class of Certificates by any Rating Agency, as evidenced by a letter from each Rating Agency9.05. Upon acceptance of appointment by a successor trustee Trustee or successor securities administrator Securities Administrator, as applicable, as provided in this SectionSection 9.07, the Depositor Master Servicers shall cooperate to mail notice of the succession of such trustee Trustee or Securities Administrator, as the case may be, hereunder to all Holders of Certificates at their addresses as shown in the Certificate RegisterRegister and to each Rating Agency. If the Depositor a Master Servicer fails to mail such notice within ten (10) days after acceptance of appointment by the successor trustee Trustee or successor securities administratorSecurities Administrator, the successor trustee Trustee or successor securities administrator Securities Administrator, as the case may be, shall cause such notice to be mailed at the expense of the Depositorsuch Master Servicer.
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (Banc of America Funding Corp. 2005-1 Trust), Pooling and Servicing Agreement (Banc of America Funding Corp. Mortgage Pass-Through Certificates Series 2004-D), Pooling and Servicing Agreement (Banc of America Funding Corp. Mortgage Pass-Through Certificates Series 2004-4)
Successor Trustee or Securities Administrator. Any successor trustee or successor securities administrator appointed as provided in Section 9.07 of this Agreement 8.7 hereof shall execute, acknowledge and deliver to the Depositor and Depositor, the Seller, the NIMS Insurer, if any, its predecessor trustee or predecessor securities administrator and the Servicer an instrument accepting such appointment hereunder, hereunder and thereupon the resignation or removal of the predecessor trustee or predecessor securities administrator shall become effective and such successor trustee or successor securities administrator administrator, without any further act, deed or conveyance, 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 or securities administrator herein. The predecessor trustee or predecessor securities administrator shall deliver to Depositor, the successor trustee or successor securities administrator all Mortgage Loan Documents and related documents and statements to Servicer, the extent held by it hereunder, as well as all monies, held by it hereunderSeller, and the Depositor NIMS Insurer, if any, and the predecessor trustee or predecessor securities administrator 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 or successor securities administrator all such rights, powers, duties duties, and obligations. No successor trustee or successor securities administrator shall accept appointment as provided in this Section 8.8 unless at the time of such acceptance such successor trustee or successor securities administrator shall be eligible under the provisions of Section 9.06 8.6 hereof, and the such appointment of such successor trustee or successor securities administrator shall not result in a downgrading adversely affect the then current rating of any Class of Certificates by any Rating Agency, as evidenced by a letter from each Rating Agencythe Certificates. Upon acceptance of appointment by a successor trustee or successor securities administrator as provided in this SectionSection 8.8, the Depositor shall mail notice of the succession of such trustee or securities administrator hereunder to all Holders of Certificates at their addresses as shown in the Certificate RegisterCertificates. If the Depositor fails to mail such notice within ten (10) 10 days after acceptance of appointment by the successor trustee or successor securities administrator, the successor trustee or successor securities administrator shall cause such notice to be mailed at the expense of the Depositor.
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (Aegis Asset Backed Securities Corp), Pooling and Servicing Agreement (Aegis Asset Backed Securities Trust Mortgage Pass-Through Certificates, Series 2005-4), Pooling and Servicing Agreement (Aegis Asset Backed Securities Trust Mortgage Pass-Through Certificates, Series 2005-5)
Successor Trustee or Securities Administrator. Any successor trustee Trustee or successor securities administrator Securities Administrator appointed as provided in Section 9.07 of this Agreement 9.06 shall execute, acknowledge and deliver to the Depositor Servicer and to its predecessor trustee Trustee or predecessor securities administrator Securities Administrator, as applicable, an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the predecessor trustee Trustee or predecessor securities administrator Securities Administrator shall become effective and such successor trustee Trustee or successor securities administrator Securities Administrator, as the case may be, without any further act, deed or conveyance, 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 Trustee or securities administrator Securities Administrator, as applicable, herein. The predecessor trustee Trustee or predecessor securities administrator Securities Administrator shall duly assign, transfer, deliver and pay over to the successor trustee Trustee or successor securities administrator all Securities Administrator, as the case may be, the whole of the Mortgage Loan Documents Files and related documents and statements to the extent held by it hereunder, together with all instruments of transfer and assignment or other documents properly executed as well may be reasonably required to effect such transfer and such of the records or copies thereof maintained by the predecessor Trustee or Securities Administrator in the administration hereof as all moniesmay be reasonably requested by the successor Trustee or Securities Administrator, held by it hereunderas the case may be, and the Depositor shall thereupon be discharged from all duties and responsibilities under this Agreement; provided, however, that if the predecessor trustee Trustee or Securities Administrator has been removed pursuant to the third paragraph of Section 9.06, all reasonable expenses of the predecessor securities administrator Trustee or Securities Administrator incurred in complying with this Section 9.07 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 reimbursed by the successor trustee or successor securities administrator all such rights, powers, duties and obligationsTrust. No successor trustee Trustee or successor securities administrator Securities Administrator shall accept appointment as provided in this Section 9.07 unless at the time of such acceptance appointment such successor trustee Trustee or successor securities administrator Securities Administrator, as the case may be, shall be eligible under the provisions of Section 9.06 and the appointment of such successor trustee or successor securities administrator shall not result in a downgrading of any Class of Certificates by any Rating Agency, as evidenced by a letter from each Rating Agency9.05. Upon acceptance of appointment by a successor trustee Trustee or successor securities administrator Securities Administrator, as applicable, as provided in this SectionSection 9.07, the Depositor Servicer shall cooperate to mail notice of the succession of such trustee Trustee or Securities Administrator, as the case may be, hereunder to all Holders of Certificates at their addresses as shown in the Certificate RegisterRegister and to each Rating Agency. If the Depositor Servicer fails to mail such notice within ten (10) days after acceptance of appointment by the successor trustee Trustee or successor securities administratorSecurities Administrator, the successor trustee Trustee or successor securities administrator Securities Administrator, as the case may be, shall cause such notice to be mailed at the expense of the DepositorServicer.
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (Banc of America Funding Corp Mort Pas THR Certs Ser 2003 1), Pooling and Servicing Agreement (Banc of America Mortgage Securities Inc), Pooling and Servicing Agreement (Banc of America Mortgage Securities Mortgage Pass-Through Certificates Series 2004-F)
Successor Trustee or Securities Administrator. Any successor trustee or successor securities administrator appointed as provided in Section 9.07 of this Agreement 8.7 shall execute, acknowledge and deliver to the Depositor and its predecessor trustee or predecessor securities administrator an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the predecessor trustee or predecessor securities administrator shall become effective and such successor trustee or successor securities administrator without any further act, deed or conveyance, 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 or securities administrator herein. The predecessor trustee or predecessor securities administrator shall deliver to the successor trustee or successor securities administrator all Mortgage Loan Documents and related documents and statements to the extent held by it hereunder, as well as all moniesmoneys, held by it hereunder, and the Depositor and the predecessor trustee or predecessor securities administrator 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 or successor securities administrator all such rights, powers, duties and obligations. No successor trustee or successor securities administrator shall accept appointment as provided in this Section unless at the time of such acceptance such successor trustee or successor securities administrator shall be eligible under the provisions of Section 9.06 8.6 and the appointment of such successor trustee or successor securities administrator shall not result in a downgrading of any Class of Certificates by any Rating Agency, as evidenced by a letter from each Rating Agency. Upon acceptance of appointment by a successor trustee or successor securities administrator as provided in this Section, the Depositor shall mail notice of the succession of such trustee hereunder to the Certificate Insurer and to all Holders of Certificates at their addresses as shown in the Certificate Register. If the Depositor fails to mail such notice within ten (10) 10 days after acceptance of appointment by the successor trustee or successor securities administrator, the successor trustee or successor securities administrator shall cause such notice to be mailed at the expense of the Depositor.
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (Deutsche Alt-B Securities Mortgage Loan Trust, Series 2006-Ab1), Pooling and Servicing Agreement (Deutsche Alt-B Securities, Inc. Mortgage Loan Trust, Series 2006-Ab2), Pooling and Servicing Agreement (Deutsche Mortgage Securities Inc. Mortgage Loan Trust 2004-5)
Successor Trustee or Securities Administrator. Any successor trustee or successor securities administrator appointed as provided in Section 9.07 of this Agreement 7.07 hereof shall execute, acknowledge and deliver to the Depositor and Depositor, the Seller, its predecessor trustee or predecessor securities administrator and the Servicer an instrument accepting such appointment hereunder, hereunder and thereupon the resignation or removal of the predecessor trustee or predecessor securities administrator shall become effective and such successor trustee or successor securities administrator administrator, without any further act, deed or conveyance, 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 or securities administrator herein. The predecessor trustee or predecessor securities administrator shall deliver to Depositor, the successor trustee or successor securities administrator all Mortgage Loan Documents and related documents and statements to Servicer, the extent held by it hereunder, as well as all monies, held by it hereunder, and the Depositor Seller and the predecessor trustee or predecessor securities administrator 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 or successor securities administrator all such rights, powers, duties duties, and obligations. No successor trustee or successor securities administrator shall accept appointment as provided in this Section 7.08 unless at the time of such acceptance such successor trustee or successor securities administrator shall be eligible under the provisions of Section 9.06 7.06 hereof, and the such appointment of such successor trustee or successor securities administrator shall not result in a downgrading adversely affect the then current rating of any Class of Certificates by any Rating Agency, as evidenced by a letter from each Rating Agencythe Certificates. Upon acceptance of appointment by a successor trustee or successor securities administrator as provided in this SectionSection 7.08, the Depositor shall mail notice of the succession of such trustee or securities administrator hereunder to all Holders of Certificates at their addresses as shown in the Certificate RegisterCertificates. If the Depositor fails to mail such notice within ten ([10) ] days after acceptance of appointment by the successor trustee or successor securities administrator, the successor trustee or successor securities administrator shall cause such notice to be mailed at the expense of the Depositor.
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (Homebanc Corp), Pooling and Servicing Agreement (HomeBanc 2006-1), Pooling and Servicing Agreement (HMB Acceptance Corp.)
Successor Trustee or Securities Administrator. Any successor trustee or successor securities administrator appointed as provided in Section 9.07 of this Agreement shall execute, acknowledge and deliver to the Depositor and its predecessor trustee or predecessor securities administrator an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the predecessor trustee or predecessor securities administrator shall become effective and such successor trustee or successor securities administrator without any further act, deed or conveyance, 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 or securities administrator herein. The predecessor trustee or predecessor securities administrator shall deliver to the successor trustee or successor securities administrator all Mortgage Loan Documents Files and related documents and statements to the extent held by it hereunder, as well as all moniesmoneys, held by it hereunder, and the Depositor and the predecessor trustee or predecessor securities administrator 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 or successor securities administrator all such rights, powers, duties and obligations. No successor trustee or successor securities administrator shall accept appointment as provided in this Section unless at the time of such acceptance such successor trustee or successor securities administrator shall be eligible under the provisions of Section 9.06 8.06 and the appointment of such successor trustee or successor securities administrator shall not result in a downgrading of any Class of Certificates by any Rating Agency, as evidenced by a letter from each Rating Agency. Upon acceptance of appointment by a successor trustee or successor securities administrator as provided in this Section, the Depositor shall mail notice of the succession of such trustee hereunder to all Holders of Certificates at their addresses as shown in the Certificate Register. If the Depositor fails to mail such notice within ten (10) 10 days after acceptance of appointment by the successor trustee or successor securities administrator, the successor trustee or successor securities administrator shall cause such notice to be mailed at the expense of the Depositor.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (SG Mortgage Securities Trust 2005-Opt1), Pooling and Servicing Agreement (Sg Mortgage Securities Trust 2006-Fre2)
Successor Trustee or Securities Administrator. Any successor trustee Trustee or successor securities administrator Securities Administrator appointed as provided in Section 9.07 of this Agreement 9.06 shall execute, acknowledge and deliver to the Depositor Master Servicer and to its predecessor trustee Trustee or predecessor securities administrator Securities Administrator, as applicable, an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the predecessor trustee Trustee or predecessor securities administrator Securities Administrator shall become effective and such successor trustee Trustee or successor securities administrator Securities Administrator, as the case may be, without any further act, deed or conveyance, 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 Trustee or securities administrator Securities Administrator, as applicable, herein. The predecessor trustee Trustee or predecessor securities administrator Securities Administrator shall duly assign, transfer, deliver and pay over to the successor trustee Trustee or successor securities administrator all Securities Administrator, as the case may be, the whole of the Mortgage Loan Documents Files and related documents and statements to the extent held by it hereunderhereunder (or direct a Custodian to deliver such Mortgage Files and related documents and statements), together with all instruments of transfer and assignment or other documents properly executed as may be reasonably required to effect such transfer and such of the records or copies thereof maintained by the predecessor Trustee or Securities Administrator in the administration hereof as may be reasonably requested by the successor Trustee or Securities Administrator, as well as all monies, held by it hereunderthe case may be, and the Depositor shall thereupon be discharged from all duties and responsibilities under this Agreement; provided, however, that if the predecessor trustee Trustee or Securities Administrator has been removed pursuant to the third paragraph of Section 9.06, all reasonable expenses of the predecessor securities administrator Trustee or Securities Administrator incurred in complying with this Section 9.07 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 reimbursed by the successor trustee or successor securities administrator all such rights, powers, duties and obligationsTrust. No successor trustee Trustee or successor securities administrator Securities Administrator shall accept appointment as provided in this Section 9.07 unless at the time of such acceptance appointment such successor trustee Trustee or successor securities administrator Securities Administrator, as the case may be, shall be eligible under the provisions of Section 9.06 and the appointment of such successor trustee or successor securities administrator shall not result in a downgrading of any Class of Certificates by any Rating Agency, as evidenced by a letter from each Rating Agency9.05. Upon acceptance of appointment by a successor trustee Trustee or successor securities administrator Securities Administrator, as applicable, as provided in this SectionSection 9.07, the Depositor Master Servicer shall cooperate to mail notice of the succession of such trustee Trustee or Securities Administrator, as the case may be, hereunder to all Holders of Certificates at their addresses as shown in the Certificate RegisterRegister and to each Rating Agency. If the Depositor Master Servicer fails to mail such notice within ten (10) days after acceptance of appointment by the successor trustee Trustee or successor securities administratorSecurities Administrator, the successor trustee Trustee or successor securities administrator Securities Administrator, as the case may be, shall cause such notice to be mailed at the expense of the DepositorMaster Servicer.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Banc of America Funding Corp), Pooling and Servicing Agreement (Banc of America Funding 2005-H Trust)
Successor Trustee or Securities Administrator. Any successor trustee or successor securities administrator appointed as provided in Section 9.07 of this Agreement shall execute, acknowledge and deliver to the Depositor and its predecessor trustee or predecessor securities administrator an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the predecessor trustee or predecessor securities administrator shall become effective and such successor trustee or successor securities administrator without any further act, deed or conveyance, 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 or securities administrator herein. The predecessor trustee or predecessor securities administrator shall deliver to the successor trustee or successor securities administrator all Mortgage Loan Documents and related documents and statements to the extent held by it hereunder, as well as all moniesmoneys, held by it hereunder, and the Depositor and the predecessor trustee or predecessor securities administrator 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 or successor securities administrator all such rights, powers, duties and obligations. No successor trustee or successor securities administrator shall accept appointment as provided in this Section unless at the time of such acceptance such successor trustee or successor securities administrator shall be eligible under the provisions of Section 9.06 and the appointment of such successor trustee or successor securities administrator shall not result in a downgrading of any Class of Certificates by any Rating Agency, as evidenced by a letter from each Rating Agency. Upon acceptance of appointment by a successor trustee or successor securities administrator as provided in this Section, the Depositor shall mail notice of the succession of such trustee hereunder to all Holders of Certificates at their addresses as shown in the Certificate Register. If the Depositor fails to mail such notice within ten (10) 10 days after acceptance of appointment by the successor trustee or successor securities administrator, the successor trustee or successor securities administrator shall cause such notice to be mailed at the expense of the Depositor.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (ACE Securities Corp Home Equity Loan Trust, Series 2005-Sn1), Pooling and Servicing Agreement (ACE Securities Corp Series 2005 SD1)
Successor Trustee or Securities Administrator. Any successor trustee or successor securities administrator Securities Administrator appointed as provided in Section 9.07 of this Agreement hereof shall execute, acknowledge and deliver to the Depositor and to its predecessor trustee or predecessor securities administrator an Securities Administrator instrument accepting such appointment hereunder, hereunder and thereupon the resignation or removal of the predecessor trustee or predecessor securities administrator Securities Administrator shall become effective and such successor trustee or successor securities administrator Securities Administrator, without any further act, deed or conveyance, 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 or securities administrator Securities Administrator herein. The predecessor trustee or predecessor securities administrator Securities Administrator shall deliver to the successor trustee or successor securities administrator Securities Administrator all Mortgage Loan Documents and related documents and statements to the extent held by it hereunder, as well as all monies, held by it hereunder, and the Depositor and the predecessor trustee or predecessor securities administrator Securities Administrator 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 or successor securities administrator Securities Administrator all such rights, powers, duties and obligations. No successor trustee or successor securities administrator Securities Administrator shall accept appointment as provided in this Section 9.08 unless at the time of such acceptance such successor trustee or successor securities administrator Securities Administrator shall be eligible under the provisions of Section 9.06 9.07 hereof and the its appointment of such successor trustee or successor securities administrator shall not result in a downgrading adversely affect the then current rating of any Class of Certificates by any Rating Agency, as evidenced by a letter from each Rating Agencythe Certificates. Upon acceptance of appointment by a successor trustee or successor securities administrator Securities Administrator as provided in this SectionSection 9.08, the Depositor successor trustee or successor Securities Administrator shall mail notice of the succession of such trustee or Securities Administrator hereunder to all Holders of Certificates at their addresses as shown in the Certificate RegisterCertificates. If the Depositor successor trustee or successor Securities Administrator fails to mail such notice within ten (10) days after acceptance of appointment by the successor trustee or successor securities administratorappointment, the successor trustee or successor securities administrator Depositor shall cause such notice to be mailed at the expense of the DepositorTrust Fund.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Nomura Asset Acceptance Corporation, Alternative Loan Trust, Series 2007-2), Pooling and Servicing Agreement (Nomura Home Equity Loan, Inc., Home Equity Loan Trust, Series 2007-1)
Successor Trustee or Securities Administrator. Any successor trustee or successor securities administrator appointed as provided in Section 9.07 of this Agreement 7.07 hereof shall execute, acknowledge and deliver to the Depositor and Depositor, the Seller, its predecessor trustee or predecessor securities administrator and the Servicer an instrument accepting such appointment hereunder, hereunder and thereupon the resignation or removal of the predecessor trustee or predecessor securities administrator shall become effective and such successor trustee or successor securities administrator administrator, without any further act, deed or conveyance, 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 or securities administrator herein. The predecessor trustee or predecessor securities administrator shall deliver to Depositor, the successor trustee or successor securities administrator all Mortgage Loan Documents and related documents and statements to Servicer, the extent held by it hereunder, as well as all monies, held by it hereunder, and the Depositor Seller and the predecessor trustee or predecessor securities administrator 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 or successor securities administrator all such rights, powers, duties duties, and obligations. No successor trustee or successor securities administrator shall accept appointment as provided in this Section 7.08 unless at the time of such acceptance such successor trustee or successor securities administrator shall be eligible under the provisions of Section 9.06 7.06 hereof, and the such appointment of such successor trustee or successor securities administrator shall not result in a downgrading adversely affect the then current rating of any Class of Certificates by any Rating Agency, as evidenced by a letter from each Rating Agencythe Certificates. Upon acceptance of appointment by a successor trustee or successor securities administrator as provided in this SectionSection 7.08, the Depositor shall mail notice of the succession of such trustee or securities administrator hereunder to all Holders of Certificates at their addresses as shown in the Certificate RegisterCertificates. If the Depositor fails to mail such notice within ten (10) 10 days after acceptance of appointment by the successor trustee or successor securities administrator, the successor trustee or successor securities administrator shall cause such notice to be mailed at the expense of the Depositor.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (HomeBanc 2007-1), Pooling and Servicing Agreement (Homebanc Corp)
Successor Trustee or Securities Administrator. Any successor trustee or successor securities administrator appointed as provided in Section 9.07 of this Agreement 9.7 shall execute, acknowledge and deliver to the Depositor Depositor, the Group I Senior Certificate Insurer and its predecessor trustee or predecessor securities administrator an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the predecessor trustee or predecessor securities administrator shall become effective and such successor trustee or successor securities administrator without any further act, deed or conveyance, 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 or securities administrator herein. The predecessor trustee or predecessor securities administrator shall deliver to the successor trustee or successor securities administrator all Mortgage Loan Documents and related documents and statements to the extent held by it hereunder, as well as all moniesmoneys, held by it hereunder, and the Depositor and the predecessor trustee or predecessor securities administrator 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 or successor securities administrator all such rights, powers, duties and obligations. No successor trustee or successor securities administrator shall accept appointment as provided in this Section unless at the time of such acceptance such successor trustee or successor securities administrator shall be eligible under the provisions of Section 9.06 9.6 and the appointment of such successor trustee or successor securities administrator shall not result in a downgrading of any Class of Certificates by any Rating AgencyAgency (determined without regard to the Group I Senior Certificate Policy), as evidenced by a letter from each Rating Agency. Upon acceptance of appointment by a successor trustee or successor securities administrator as provided in this Section, the Depositor shall mail notice of the succession of such trustee hereunder to all Holders of Certificates at their addresses as shown in the Certificate Register. If the Depositor fails to mail such notice within ten (10) 10 days after acceptance of appointment by the successor trustee or successor securities administrator, the successor trustee or successor securities administrator shall cause such notice to be mailed at the expense of the Depositor.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Deutsche Alt-a Securities Mortgage Loan Trust, Series 2007-Ar3), Pooling and Servicing Agreement (Deutsche Alt-a Securities Mortgage Loan Trust, Series 2007-Ar3)
Successor Trustee or Securities Administrator. Any successor trustee Trustee or successor securities administrator Securities Administrator appointed as provided in Section 9.07 of this Agreement 9.06 shall execute, acknowledge and deliver to the Depositor Servicer and to its predecessor trustee Trustee or predecessor securities administrator Securities Administrator, as applicable, an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the predecessor trustee Trustee or predecessor securities administrator Securities Administrator shall become effective and such successor trustee Trustee or successor securities administrator Securities Administrator, as the case may be, without any further act, deed or conveyance, 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 Trustee or securities administrator Securities Administrator, as applicable, herein. The predecessor trustee Trustee or predecessor securities administrator Securities Administrator shall duly assign, transfer, deliver and pay over to the successor trustee Trustee or successor securities administrator all Securities Administrator, as the case may be, the whole of the Mortgage Loan Documents Files and related documents and statements to the extent held by it hereunder, together with all instruments of transfer and assignment or other documents properly executed as well may be reasonably required to effect such transfer and such of the records or copies thereof maintained by the predecessor Trustee or Securities Administrator in the administration hereof as all moniesmay be reasonably requested by the successor Trustee or Securities Administrator, held by it hereunderas the case may be, and shall thereupon be discharged from all duties and responsibilities under this Agreement (other than pursuant to Section 3.19 hereunder). All costs associated with the Depositor and appointment of a successor Trustee or Securities Administrator shall be paid to the Person that incurred them by the predecessor trustee Trustee or Securities Administrator, as applicable. Without limiting the predecessor securities administrator Trustee's or Securities Administrator's obligation, if the predecessor Trustee or Securities Administrator, as applicable, fails to pay such costs, such costs shall execute and deliver such instruments and do such other things as may reasonably be required for more fully and certainly vesting and confirming reimbursed by the Trust; provided, however, that if the predecessor Trustee or Securities Administrator has been terminated pursuant to the third paragraph of Section 9.06, all reasonable expenses incurred in complying with this Section 9.07 shall be reimbursed by the successor trustee or successor securities administrator all such rights, powers, duties and obligationsTrust to the Person that incurred them. No successor trustee Trustee or successor securities administrator Securities Administrator shall accept appointment as provided in this Section 9.07 unless at the time of such acceptance appointment such successor trustee Trustee or successor securities administrator Securities Administrator, as the case may be, shall be eligible under the provisions of Section 9.06 and the appointment of such successor trustee or successor securities administrator shall not result in a downgrading of any Class of Certificates by any Rating Agency, as evidenced by a letter from each Rating Agency9.05. Upon acceptance of appointment by a successor trustee Trustee or successor securities administrator Securities Administrator, as applicable, as provided in this SectionSection 9.07, the Depositor Servicer shall cooperate to mail notice of the succession of such trustee Trustee or Securities Administrator, as the case may be, hereunder to all Holders of Certificates at their addresses as shown in the Certificate RegisterRegister and to each Rating Agency. If the Depositor Servicer fails to mail such notice within ten (10) days after acceptance of appointment by the successor trustee Trustee or successor securities administratorSecurities Administrator, the successor trustee Trustee or successor securities administrator Securities Administrator, as the case may be, shall cause such notice to be mailed at the expense of the DepositorServicer. The predecessor Trustee and successor Trustee shall notify the Depositor of any such appointment at least two Business Days prior to the effective date thereof and shall provide the Depositor with all information required by the Depositor to comply with its reporting obligation under Item 6.02 of Form 8-K not later than the effective date of such appointment. The predecessor Securities Administrator and successor Securities Administrator shall notify the Depositor of any such appointment at least two Business Days prior to the effective date thereof and shall provide the Depositor with all information required by the Depositor to comply with its reporting obligation under Item 6.02 of Form 8-K not later than the effective date of such appointment.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Banc of America Mortgage Securities Inc), Pooling and Servicing Agreement (Banc of America Mortgage 2008-a Trust)
Successor Trustee or Securities Administrator. Any successor trustee or successor securities administrator appointed as provided in Section 9.07 of this Agreement shall execute, acknowledge and deliver to the Depositor and its predecessor trustee or predecessor securities administrator an instrument accepting such appointment hereunder, and thereupon thereupon, the resignation or removal of the predecessor trustee or predecessor securities administrator shall become effective effective, and such successor trustee or successor securities administrator administrator, without any further act, deed or conveyance, 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 or securities administrator herein. The predecessor trustee or predecessor securities administrator shall deliver to the successor trustee or successor securities administrator all Mortgage Loan Documents and related documents and statements statements, to the extent held by it hereunder, as well as all monies, moneys held by it hereunder, and the Depositor and the predecessor trustee or predecessor securities administrator 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 or successor securities administrator all such rights, powers, duties and obligations. No successor trustee or successor securities administrator shall accept appointment as provided in this Section unless 9.08 unless, at the time of such acceptance acceptance, such successor trustee or successor securities administrator shall be eligible under the provisions of Section 9.06 9.08 and the appointment of such successor trustee or successor securities administrator shall not result in a downgrading of any Class of Certificates by any Rating Agency, as evidenced by a letter from each Rating Agency. Upon acceptance of appointment by a successor trustee or successor securities administrator as provided in this SectionSection 9.08, the Depositor shall mail notice of the succession of such trustee hereunder to all Holders of Certificates at their addresses as shown in the Certificate Register. If the Depositor fails to mail such notice within ten (10) days after acceptance of appointment by the successor trustee or successor securities administrator, the successor trustee or successor securities administrator shall cause such notice to be mailed at the expense of the Depositor.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Peoples Choice Home Loan Securities Corp)
Successor Trustee or Securities Administrator. Any successor trustee Trustee or successor securities administrator Securities Administrator appointed as provided in Section 9.07 of this Agreement 8.07 shall execute, acknowledge and deliver to the Depositor Depositor, the NIMS Insurer, the Rating Agencies, the Master Servicer, the Servicers and to its predecessor trustee Trustee or predecessor securities administrator Securities Administrator, as the case may be, an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the predecessor trustee Trustee or predecessor securities administrator Securities Administrator shall become effective effective, and such successor trustee Trustee or successor securities administrator Securities Administrator, without any further act, deed or conveyance, 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 Trustee or securities administrator hereinSecurities Administrator, as the case may be. The predecessor trustee or predecessor securities administrator shall deliver to Depositor, the successor trustee or successor securities administrator all Mortgage Loan Documents and related documents and statements to the extent held by it hereunder, as well as all monies, held by it hereunder, and the Depositor Master Servicer and the predecessor trustee Trustee or predecessor securities administrator Securities Administrator 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 Trustee or successor securities administrator Securities Administrator, as the case may be, all such rights, powers, duties and obligations. No successor trustee Trustee or successor securities administrator Securities Administrator shall accept appointment as provided in this Section 8.08 unless at the time of such acceptance such successor trustee Trustee or successor securities administrator Securities Administrator, as the case may be, shall be eligible under the provisions of Section 9.06 8.06 and the appointment of such successor trustee Trustee or successor securities administrator Securities Administrator, as applicable, shall not result 199 in a downgrading of any Class of the Regular Certificates by any either Rating Agency, as evidenced by a letter from each Rating Agency. Upon acceptance of appointment by a successor trustee Trustee or successor securities administrator Securities Administrator, as applicable, as provided in this SectionSection 8.08, the Depositor Master Servicer shall cooperate to mail notice of the succession of such trustee Trustee or Securities Administrator, as the case may be, hereunder to all Holders of Certificates at their addresses as shown in the Certificate Register, to the NIMS Insurer and to each Rating Agency. If the Depositor Master Servicer fails to mail such notice within ten (10) days after acceptance of appointment by the successor trustee Trustee or successor securities administratorSecurities Administrator, the successor trustee Trustee or successor securities administrator Securities Administrator, as the case may be, shall cause such notice to be mailed at the expense of the DepositorMaster Servicer. The predecessor Trustee and successor Trustee shall notify the Depositor of any such appointment at least two Business Days prior to the effective date thereof and shall provide the Depositor with all information required by the Depositor to comply with its reporting obligation under Item 6.02 of Form 8-K not later than the effective date of such appointment. The predecessor Securities Administrator and successor Securities Administrator shall notify the Depositor of any such appointment at least two Business Days prior to the effective date thereof and shall provide the Depositor with all information required by the Depositor to comply with its reporting obligation under Item 6.02 of Form 8-K not later than the effective date of such appointment.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (ABFC 2006-He1 Trust)
Successor Trustee or Securities Administrator. Any successor trustee Trustee or successor securities administrator Securities Administrator appointed as provided in Section 9.07 of this Agreement 8.07 shall execute, acknowledge and deliver to the Depositor Depositor, the Servicer, the Master Servicer, the Custodian and to its predecessor trustee Trustee or predecessor securities administrator Securities Administrator, as applicable, an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the predecessor trustee Trustee or predecessor securities administrator Securities Administrator, as the case may be, shall become effective effective, and such successor trustee Trustee or successor securities administrator Securities Administrator, as applicable, without any further act, deed or conveyance, 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 Trustee or securities administrator hereinSecurities Administrator, as the case may be. The predecessor trustee or predecessor securities administrator shall deliver other parties to the successor trustee or successor securities administrator all Mortgage Loan Documents and related documents and statements to the extent held by it hereunder, as well as all monies, held by it hereunder, and the Depositor this Agreement and the predecessor trustee Trustee or predecessor securities administrator Securities Administrator, as the case may be, 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 Trustee or successor securities administrator Securities Administrator, as applicable, all such rights, powers, duties and obligations. No successor trustee Trustee or successor securities administrator Securities Administrator shall accept appointment as provided in this Section 8.08 unless at the time of such acceptance such successor trustee Trustee or successor securities administrator Securities Administrator, as applicable, shall be eligible under the provisions of Section 9.06 and the appointment of such successor trustee or successor securities administrator shall not result in a downgrading of any Class of Certificates by any Rating Agency, as evidenced by a letter from each Rating Agency8.06. Upon acceptance of appointment by a successor trustee Trustee or successor securities administrator Securities Administrator, as applicable, as provided in this SectionSection 8.08, the Depositor Master Servicer shall cooperate to mail notice of the succession of such trustee Trustee or Securities Administrator, as the case may be, hereunder to all Holders of Certificates at their addresses as shown in the Certificate Register. If the Depositor Master Servicer fails to mail such notice within ten (10) days after acceptance of appointment by the successor trustee Trustee or successor securities administratorSecurities Administrator, as applicable, the successor trustee Trustee or successor securities administrator Securities Administrator, as the case may be, shall cause such notice to be mailed at the expense of the DepositorMaster Servicer.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (American General Finance Corp)
Successor Trustee or Securities Administrator. Any successor trustee Trustee or successor securities administrator Securities Administrator appointed as provided in Section 9.07 of this Agreement 9.06 shall execute, acknowledge and deliver to the Depositor Master Servicer and to its predecessor trustee Trustee or predecessor securities administrator Securities Administrator, as applicable, an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the predecessor trustee Trustee or predecessor securities administrator Securities Administrator shall become effective and such successor trustee Trustee or successor securities administrator Securities Administrator, as the case may be, without any further act, deed or conveyance, 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 Trustee or securities administrator Securities Administrator, as applicable, herein. The predecessor trustee Trustee or predecessor securities administrator Securities Administrator shall duly assign, transfer, deliver and pay over to the successor trustee Trustee or successor securities administrator all Securities Administrator, as the case may be, the whole of the Mortgage Loan Documents Files and related documents and statements to the extent held by it hereunder, together with all instruments of transfer and assignment or other documents properly executed as well may be reasonably required to effect such transfer and such of the records or copies thereof maintained by the predecessor Trustee or Securities Administrator in the administration hereof as all moniesmay be reasonably requested by the successor Trustee or Securities Administrator, held by it hereunderas the case may be, and shall thereupon be discharged from all duties and responsibilities under this Agreement (other than pursuant to Section 3.20 hereunder). All costs associated with the Depositor and appointment of a successor Trustee or Securities Administrator shall be paid to the Person that incurred them by the predecessor trustee Trustee or Securities Administrator. Without limiting the predecessor securities administrator Trustee's or Securities Administrator's obligation, if the predecessor Trustee or Securities Administrator fails to pay such costs, such costs shall execute and deliver such instruments and do such other things as may reasonably be required for more fully and certainly vesting and confirming reimbursed by the Trust; provided, however, that if the predecessor Trustee or Securities Administrator has been removed pursuant to the third paragraph of Section 9.06, all reasonable expenses of the predecessor Trustee or Securities Administrator incurred in complying with this Section 9.07 shall be reimbursed by the successor trustee or successor securities administrator all such rights, powers, duties and obligationsTrust. No successor trustee Trustee or successor securities administrator Securities Administrator shall accept appointment as provided in this Section 9.07 unless at the time of such acceptance appointment such successor trustee Trustee or successor securities administrator Securities Administrator, as the case may be, shall be eligible under the provisions of Section 9.06 and the appointment of such successor trustee or successor securities administrator shall not result in a downgrading of any Class of Certificates by any Rating Agency, as evidenced by a letter from each Rating Agency9.05. Upon acceptance of appointment by a successor trustee Trustee or successor securities administrator Securities Administrator, as applicable, as provided in this SectionSection 9.07, the Depositor Master Servicer shall cooperate to mail notice of the succession of such trustee Trustee or Securities Administrator, as the case may be, hereunder to all Holders of Certificates at their addresses as shown in the Certificate RegisterRegister and to each Rating Agency. If the Depositor Master Servicer fails to mail such notice within ten (10) days after acceptance of appointment by the successor trustee Trustee or successor securities administratorSecurities Administrator, the successor trustee Trustee or successor securities administrator Securities Administrator, as the case may be, shall cause such notice to be mailed at the expense of the DepositorMaster Servicer. The predecessor Trustee or Securities Administrator and the successor Trustee or Securities Administrator, as applicable, shall notify the Depositor of any such appointment at least two Business Days prior to the effective date thereof and shall provide the Depositor with all information required by the Depositor to comply with its reporting obligation under Item 6.02 of Form 8-K not later than the effective date of such appointment.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Banc of America Funding Corp)
Successor Trustee or Securities Administrator. Any successor trustee Trustee or successor securities administrator Securities Administrator appointed as provided in Section 9.07 of this Agreement 9.06 shall execute, acknowledge and deliver to the Depositor Master Servicers and to its predecessor trustee Trustee or predecessor securities administrator Securities Administrator, as applicable, an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the predecessor trustee Trustee or predecessor securities administrator Securities Administrator shall become effective and such successor trustee Trustee or successor securities administrator Securities Administrator, as the case may be, without any further act, deed or conveyance, 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 Trustee or securities administrator Securities Administrator, as applicable, herein. The predecessor trustee Trustee or predecessor securities administrator Securities Administrator shall duly assign, transfer, deliver and pay over to the successor trustee Trustee or successor securities administrator all Securities Administrator, as the case may be, the whole of the Mortgage Loan Documents Files and related documents and statements to the extent held by it hereunder, together with all instruments of transfer and assignment or other documents properly executed as well may be reasonably required to effect such transfer and such of the records or copies thereof maintained by the predecessor Trustee or Securities Administrator in the administration hereof as all moniesmay be reasonably requested by the successor Trustee or Securities Administrator, held by it hereunderas the case may be, and the Depositor shall thereupon be discharged from all duties and responsibilities under this Agreement; provided, however, that if the predecessor trustee Trustee or Securities Administrator has been removed pursuant to the third paragraph of Section 9.06, all reasonable expenses of the predecessor securities administrator Trustee or Securities Administrator incurred in complying with this Section 9.07 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 reimbursed by the successor trustee or successor securities administrator all such rights, powers, duties and obligationsTrust. No successor trustee Trustee or successor securities administrator Securities Administrator shall accept appointment as provided in this Section 9.07 unless at the time of such acceptance appointment such successor trustee Trustee or successor securities administrator Securities Administrator, as the case may be, shall be eligible under the provisions of Section 9.06 and the appointment of such successor trustee or successor securities administrator shall not result in a downgrading of any Class of Certificates by any Rating Agency, as evidenced by a letter from each Rating Agency9.05. Upon acceptance of appointment by a successor trustee Trustee or successor securities administrator Securities Administrator, as applicable, as provided in this SectionSection 9.07, the Depositor Master Servicers shall cooperate to mail notice of the succession of such trustee Trustee or Securities Administrator, as the case may be, hereunder to the NIMS Insurer, all Holders of Certificates at their addresses as shown in the Certificate RegisterRegister and to each Rating Agency. If the Depositor a Master Servicer fails to mail such notice within ten (10) days after acceptance of appointment by the successor trustee Trustee or successor securities administratorSecurities Administrator, the successor trustee Trustee or successor securities administrator Securities Administrator, as the case may be, shall cause such notice to be mailed at the expense of the Depositorsuch Master Servicer.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Banc of America Funding 2007-3 Trust)
Successor Trustee or Securities Administrator. Any successor trustee or successor securities administrator appointed as provided in Section 9.07 of this Agreement hereof shall execute, acknowledge and deliver to the Depositor and to its predecessor trustee or predecessor securities administrator an instrument accepting such appointment hereunder, hereunder and thereupon the resignation or removal of the predecessor trustee or predecessor securities administrator shall become effective and such successor trustee or successor securities administrator administrator, without any further act, deed or conveyance, 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 or securities administrator Securities Administrator herein. The predecessor trustee or predecessor securities administrator shall deliver to the successor trustee or successor securities administrator all Mortgage Loan Documents and related documents and statements to the extent held by it hereunder, as well as all monies, held by it hereunder, and the Depositor and the predecessor trustee or predecessor securities administrator 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 or successor securities administrator all such rights, powers, duties and obligations. No successor trustee or successor securities administrator shall accept appointment as provided in this Section 9.08 unless at the time of such acceptance such successor trustee or successor securities administrator shall be eligible under the provisions of Section 9.06 9.07 hereof and the its appointment of such successor trustee or successor securities administrator shall not result in a downgrading adversely affect the then current rating of any Class of Certificates by any Rating Agency, as evidenced by a letter from each Rating Agencythe Certificates. Upon acceptance of appointment by a successor trustee or successor securities administrator as provided in this SectionSection 9.08, the Depositor successor trustee or successor securities administrator shall mail notice of the succession of such trustee or securities administrator hereunder to all Holders of Certificates at their addresses as shown in the Certificate RegisterCertificates. If the Depositor successor trustee or successor securities administrator fails to mail such notice within ten (10) days after acceptance of appointment by the successor trustee or successor securities administratorappointment, the successor trustee or successor securities administrator Depositor shall cause such notice to be mailed at the expense of the DepositorTrust Fund. Any Person appointed as successor trustee pursuant to Section 9.08 shall also be required to serve as successor supplemental interest trust trustee under the Swap Agreement and Interest Rate Cap Agreement.
Appears in 1 contract
Successor Trustee or Securities Administrator. Any successor trustee or successor securities administrator appointed as provided in Section 9.07 of this Agreement shall execute, acknowledge and deliver to the Depositor and to its predecessor trustee or predecessor securities administrator an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the predecessor trustee or predecessor securities administrator shall become effective and such successor trustee or successor securities administrator without any further act, deed or conveyance, 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 or securities administrator herein. The predecessor trustee or predecessor securities administrator shall deliver to the successor trustee or successor securities administrator all Mortgage Loan Documents Files and related documents and statements to the extent held by it hereunder, as well as all moniesmoneys, held by it hereunder (other than any Mortgage Files at the time held by a custodian, which custodian shall become the agent of any successor trustee or successor securities administrator hereunder), and the Depositor and the predecessor trustee or predecessor securities administrator 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 or successor securities administrator all such rights, powers, duties and obligations. No successor trustee or successor securities administrator shall accept appointment as provided in this Section unless at the time of such acceptance such successor trustee or successor securities administrator shall be eligible under the provisions of Section 9.06 and the appointment of such successor trustee or successor securities administrator shall not result in a downgrading of any Class of Certificates by any Rating Agency, as evidenced by a letter from each Rating Agency. Upon acceptance of appointment by a successor trustee or successor securities administrator as provided in this Section, the Depositor shall mail notice of the succession of such trustee hereunder to all Holders of Certificates at their addresses as shown in the Certificate Register. If the Depositor fails to mail such notice within ten (10) 10 days after acceptance of appointment by the successor trustee or successor securities administrator, the successor trustee or successor securities administrator shall cause such notice to be mailed at the expense of the Depositor.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Carrington Mortgage Loan Trust, Series 2007-He1)
Successor Trustee or Securities Administrator. Any successor trustee or successor securities administrator appointed as provided in Section 9.07 of this Agreement 8.7 hereof shall execute, acknowledge and deliver to the Depositor and Depositor, the Seller, the NIMS Insurer, if any, its predecessor trustee or predecessor securities administrator and the Servicer an instrument accepting such appointment hereunder, hereunder and thereupon the resignation or removal of the predecessor trustee or predecessor securities administrator shall become effective and such successor trustee or successor securities administrator administrator, without any further act, deed or conveyance, 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 or securities administrator herein. The predecessor trustee or predecessor securities administrator shall deliver to Depositor, the successor trustee or successor securities administrator all Mortgage Loan Documents and related documents and statements to Servicer, the extent held by it hereunder, as well as all monies, held by it hereunderSeller, and the Depositor NIMS Insurer, if any, and the predecessor trustee or predecessor securities administrator 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 or successor securities administrator all such rights, powers, duties duties, and obligations. No successor trustee or successor securities administrator shall accept appointment as provided in this Section 8.8 unless at the time of such acceptance such successor trustee or successor securities administrator shall be eligible under the provisions of Section 9.06 8.6 hereof and the its appointment of such successor trustee or successor securities administrator shall not result in a downgrading adversely affect the then current rating of any Class of Certificates by any Rating Agency, as evidenced by a letter from each Rating Agencythe Certificates. Upon acceptance of appointment by a successor trustee or successor securities administrator as provided in this SectionSection 8.8, the Depositor shall mail notice of the succession of such trustee or securities administrator hereunder to all Holders of Certificates at their addresses as shown in the Certificate RegisterCertificates. If the Depositor fails to mail such notice within ten (10) 10 days after acceptance of appointment by the successor trustee or successor securities administrator, the successor trustee or successor securities administrator shall cause such notice to be mailed at the expense of the Depositor.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Aegis Asset Backed Sec Corp Mort Pas THR Cert Series 2004 2)
Successor Trustee or Securities Administrator. Any successor trustee Trustee or successor securities administrator Securities Administrator appointed as provided in Section 9.07 of this Agreement 9.06 shall execute, acknowledge and deliver to the Depositor Master Servicer and to its predecessor trustee Trustee or predecessor securities administrator Securities Administrator, as applicable, an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the predecessor trustee Trustee or predecessor securities administrator Securities Administrator shall become effective and such successor trustee Trustee or successor securities administrator Securities Administrator, as the case may be, without any further act, deed or conveyance, 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 Trustee or securities administrator Securities Administrator, as applicable, herein. The predecessor trustee Trustee or predecessor securities administrator Securities Administrator shall duly assign, transfer, deliver and pay over to the successor trustee Trustee or successor securities administrator all Securities Administrator, as the case may be, the whole of the Mortgage Loan Documents Files and related documents and statements to the extent held by it hereunder, together with all instruments of transfer and assignment or other documents properly executed as well may be reasonably required to effect such transfer and such of the records or copies thereof maintained by the predecessor Trustee or Securities Administrator in the administration hereof as all moniesmay be reasonably requested by the successor Trustee or Securities Administrator, held by it hereunderas the case may 189 be, and the Depositor shall thereupon be discharged from all duties and responsibilities under this Agreement; provided, however, that if the predecessor trustee Trustee or Securities Administrator has been removed pursuant to the third paragraph of Section 9.06, all reasonable expenses of the predecessor securities administrator Trustee or Securities Administrator incurred in complying with this Section 9.07 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 reimbursed by the successor trustee or successor securities administrator all such rights, powers, duties and obligationsTrust. No successor trustee Trustee or successor securities administrator Securities Administrator shall accept appointment as provided in this Section 9.07 unless at the time of such acceptance appointment such successor trustee Trustee or successor securities administrator Securities Administrator, as the case may be, shall be eligible under the provisions of Section 9.06 and the appointment of such successor trustee or successor securities administrator shall not result in a downgrading of any Class of Certificates by any Rating Agency, as evidenced by a letter from each Rating Agency9.05. Upon acceptance of appointment by a successor trustee Trustee or successor securities administrator Securities Administrator, as applicable, as provided in this SectionSection 9.07, the Depositor Master Servicer shall cooperate to mail notice of the succession of such trustee Trustee or Securities Administrator, as the case may be, hereunder to the NIMS Insurer, all Holders of Certificates at their addresses as shown in the Certificate RegisterRegister and to each Rating Agency. If the Depositor Master Servicer fails to mail such notice within ten (10) days after acceptance of appointment by the successor trustee Trustee or successor securities administratorSecurities Administrator, the successor trustee Trustee or successor securities administrator Securities Administrator, as the case may be, shall cause such notice to be mailed at the expense of the DepositorMaster Servicer.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Banc of America Funding 2007-1 Trust)
Successor Trustee or Securities Administrator. Any successor trustee or successor securities administrator appointed as provided in Section 9.07 of this Agreement shall execute, acknowledge and deliver to the Depositor and its predecessor trustee or predecessor securities administrator an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the predecessor trustee or predecessor securities administrator shall become effective and such successor trustee or successor securities administrator without any further act, deed or conveyance, 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 or securities administrator herein. The predecessor trustee or predecessor securities administrator shall deliver to the successor trustee or successor securities administrator all Mortgage Loan Documents and related documents and statements to the extent held by it hereunder, as well as all moniesmoneys, held by it hereunder, and the Depositor and the predecessor trustee or predecessor securities administrator 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 or successor securities administrator all such rights, powers, duties and obligations. No successor trustee or successor securities administrator shall accept appointment as provided in this Section unless at the time of such acceptance such successor trustee or successor securities administrator shall be eligible under the provisions of Section 9.06 and the appointment of such successor trustee or successor securities administrator shall not result in a downgrading of any Class of Certificates by any Rating Agency, as evidenced by a letter from each Rating Agency. Upon acceptance of appointment by a successor trustee or successor securities administrator as provided in this Section, the Depositor shall mail notice of the succession of such trustee hereunder to all Holders of Certificates at their addresses as shown in the Certificate Register. If the Depositor fails to mail such notice within ten (10) 10 days after acceptance of appointment by the successor trustee or successor securities administrator, the successor trustee or successor securities administrator shall cause such notice to be mailed at the expense of the Depositor.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (ACE Securities Corp Home Equity Loan Trust Series 2005-Sd2)
Successor Trustee or Securities Administrator. Any successor trustee Trustee or successor securities administrator Securities Administrator appointed as provided in Section 9.07 of this Agreement 9.06 shall execute, acknowledge and deliver to the Depositor Servicer and to its predecessor trustee Trustee or predecessor securities administrator Securities Administrator, as applicable, an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the predecessor trustee Trustee or predecessor securities administrator Securities Administrator shall become effective and such successor trustee Trustee or successor securities administrator Securities Administrator, as the case may be, without any further act, deed or conveyance, 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 Trustee or securities administrator Securities Administrator, as applicable, herein. The predecessor trustee Trustee or predecessor securities administrator Securities Administrator shall duly assign, transfer, deliver and pay over to the successor trustee Trustee or successor securities administrator all Securities Administrator, as the case may be, the whole of the Mortgage Loan Documents Files and related documents and statements to the extent held by it hereunderhereunder (or direct a Custodian to deliver such Mortgage Files and related documents and statements), together with all instruments of transfer and assignment or other documents properly executed as may be reasonably required to effect such transfer and such of the records or copies thereof maintained by the predecessor Trustee or Securities Administrator in the administration hereof as may be reasonably requested by the successor Trustee or Securities Administrator, as well as all monies, held by it hereunderthe case may be, and the Depositor shall thereupon be discharged from all duties and responsibilities under this Agreement; provided, however, that if the predecessor trustee Trustee or Securities Administrator has been removed pursuant to the third paragraph of Section 9.06, all reasonable expenses of the predecessor securities administrator Trustee or Securities Administrator incurred in complying with this Section 9.07 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 reimbursed by the successor trustee or successor securities administrator all such rights, powers, duties and obligationsTrust. No successor trustee Trustee or successor securities administrator Securities Administrator shall accept appointment as provided in this Section 9.07 unless at the time of such acceptance appointment such successor trustee Trustee or successor securities administrator Securities Administrator, as the case may be, shall be eligible under the provisions of Section 9.06 and the appointment of such successor trustee or successor securities administrator shall not result in a downgrading of any Class of Certificates by any Rating Agency, as evidenced by a letter from each Rating Agency9.05. Upon acceptance of appointment by a successor trustee Trustee or successor securities administrator Securities Administrator, as applicable, as provided in this SectionSection 9.07, the Depositor Servicer shall cooperate to mail notice of the succession of such trustee Trustee or Securities Administrator, as the case may be, hereunder to all Holders of Certificates at their addresses as shown in the Certificate RegisterRegister and to each Rating Agency. If the Depositor Servicer fails to mail such notice within ten (10) days after acceptance of appointment by the successor trustee Trustee or successor securities administratorSecurities Administrator, the successor trustee Trustee or successor securities administrator Securities Administrator, as the case may be, shall cause such notice to be mailed at the expense of the DepositorServicer.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Banc of America Funding 2006-F Trust)
Successor Trustee or Securities Administrator. Any successor trustee or successor securities administrator appointed as provided in Section 9.07 of this Agreement 8.7 shall execute, acknowledge and deliver to the Depositor and its predecessor trustee or predecessor securities administrator an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the predecessor trustee or predecessor securities administrator shall become effective and such successor trustee or successor securities administrator without any further act, deed or conveyance, 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 or securities administrator herein. The predecessor trustee or predecessor securities administrator shall deliver to the successor trustee or successor securities administrator all Mortgage Loan Documents and related documents and statements to the extent held by it hereunder, as well as all moniesmoneys, held by it hereunder, and the Depositor and the predecessor trustee or predecessor securities administrator 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 or successor securities administrator all such rights, powers, duties and obligations. No successor trustee or successor securities administrator shall accept appointment as provided in this Section unless at the time of such acceptance such successor trustee or successor securities administrator shall be eligible under the provisions of Section 9.06 8.6 and the appointment of such successor trustee or successor securities administrator shall not result in a downgrading of any Class of Certificates by any Rating Agency, as evidenced by a letter from each Rating Agency. Upon acceptance of appointment by a successor trustee or successor securities administrator as provided in this Section, the Depositor shall mail notice of the succession of such trustee hereunder to all Holders of the related Certificates at their addresses as shown in the Certificate Register. If the Depositor fails to mail such notice within ten (10) [ ] days after acceptance of appointment by the successor trustee or successor securities administrator, the successor trustee or successor securities administrator shall cause such notice to be mailed at the expense of the Depositor.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Deutsche Alt-a Securities Inc)
Successor Trustee or Securities Administrator. Any successor trustee or successor securities administrator appointed as provided in Section 9.07 of this Agreement 7.07 shall execute, acknowledge and deliver to the Depositor and to its predecessor trustee or predecessor securities administrator an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the predecessor trustee or predecessor securities administrator shall become effective and such successor trustee or successor securities administrator successor, without any further act, deed or conveyance, 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 or securities administrator herein. The predecessor trustee or predecessor securities administrator Securities Administrator shall deliver to the its successor trustee or successor securities administrator all Mortgage Loan Documents Files and related documents and statements to the extent held by it hereunderstatements, as well as all moniesmoneys, held by it hereunder (other than any Mortgage Files at the time held by a custodian, if any, which custodian shall become the agent of any successor trustee hereunder), and the Depositor and the predecessor trustee or predecessor securities administrator Securities Administrator 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 or successor securities administrator all such rights, powers, duties and obligations. No successor trustee or successor securities administrator Securities Administrator shall accept appointment as provided in this Section unless at the time of such acceptance such successor trustee or successor securities administrator shall be eligible under the provisions of Section 9.06 7.06 and the appointment of such successor trustee or successor securities administrator shall not result in a downgrading of any Class of Certificates by any either Rating Agency, as evidenced by a letter from each Rating Agency. Upon acceptance of appointment by a successor trustee or successor securities administrator Securities Administrator as provided in this Section, the Depositor shall mail notice of the succession of such trustee hereunder to all Holders of Certificates at their addresses as shown in the Certificate Register. If the Depositor fails to mail such notice within ten (10) 10 days after acceptance of appointment by the successor trustee or successor securities administratorsuccessor, the successor trustee or successor securities administrator shall cause such notice to be mailed at the expense of the Depositor.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (NYMT Securities CORP)
Successor Trustee or Securities Administrator. Any successor trustee or successor securities administrator appointed as provided in Section 9.07 of this Agreement 8.7 hereof shall be reasonably acceptable to the Class IIA Insurer and such successor trustee or such successor securities administrator shall execute, acknowledge and deliver to the Depositor and Depositor, the Seller, the Class IIA Insurer, the NIMS Insurer, if any, its predecessor trustee or predecessor securities administrator and the Servicer an instrument accepting such appointment hereunder, hereunder and thereupon the resignation or removal of the predecessor trustee or predecessor securities administrator shall become effective and such successor trustee or successor securities administrator administrator, without any further act, deed or conveyance, 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 or securities administrator herein. The predecessor trustee or predecessor securities administrator shall deliver to Depositor, the successor trustee or successor securities administrator all Mortgage Loan Documents and related documents and statements to Servicer, the extent held by it hereunder, as well as all monies, held by it hereunderSeller, and the Depositor NIMS Insurer, if any, and the predecessor trustee or predecessor securities administrator 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 or successor securities administrator all such rights, powers, duties duties, and obligations. No successor trustee or successor securities administrator shall accept appointment as provided in this Section 8.8 unless at the time of such acceptance such successor trustee or successor securities administrator shall be eligible under the provisions of Section 9.06 8.6 hereof, be reasonably acceptable to the Class IIA Insurer and the such appointment of such successor trustee or successor securities administrator shall not result in a downgrading adversely affect the then current rating of any Class of Certificates by any Rating Agency, as evidenced by a letter from each Rating Agencythe Certificates. Upon acceptance of appointment by a successor trustee or successor securities administrator as provided in this SectionSection 8.8, the Depositor shall mail notice of the succession of such trustee or securities administrator hereunder to all Holders of Certificates at their addresses as shown in the Certificate RegisterCertificates. If the Depositor fails to mail such notice within ten (10) 10 days after acceptance of appointment by the successor trustee or successor securities administrator, the successor trustee or successor securities administrator shall cause such notice to be mailed at the expense of the Depositor.
Appears in 1 contract
Successor Trustee or Securities Administrator. Any successor trustee or successor securities administrator appointed as provided in Section 9.07 of this Agreement 8.7 shall execute, acknowledge and deliver to the Depositor and its predecessor trustee or predecessor securities administrator an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the predecessor trustee or predecessor securities administrator shall become effective and such successor trustee or successor securities administrator without any further act, deed or conveyance, 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 or securities administrator herein. The predecessor trustee or predecessor securities administrator shall deliver to the successor trustee or successor securities administrator all Mortgage Loan Documents and related documents and statements to the extent held by it hereunder, as well as all moniesmoneys, held by it hereunder, and the Depositor and the predecessor trustee or predecessor securities administrator 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 or successor securities administrator all such rights, powers, duties and obligations. No successor trustee or successor securities administrator shall accept appointment as provided in this Section unless at the time of such acceptance such successor trustee or successor securities administrator shall be eligible under the provisions of Section 9.06 8.6 and the appointment of such successor trustee or successor securities administrator shall not result in a downgrading of any Class of Certificates by any Rating AgencyAgency (determined without regard to the Class A-6A Policy), as evidenced by a letter from each Rating Agency. Upon acceptance of appointment by a successor trustee or successor securities administrator as provided in this Section, the Depositor shall mail notice of the succession of such trustee hereunder to MBIA and all Holders of Certificates at their addresses as shown in the Certificate Register. If the Depositor fails to mail such notice within ten (10) 10 days after acceptance of appointment by the successor trustee or successor securities administrator, the successor trustee or successor securities administrator shall cause such notice to be mailed at the expense of the Depositor.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Deutsche Alt a Securities Inc Mort Loan Trust Ser 2003-4xs)
Successor Trustee or Securities Administrator. Any successor trustee or successor securities administrator appointed as provided in Section 9.07 of this Agreement shall execute, acknowledge and deliver to the Depositor and its predecessor trustee or predecessor securities administrator an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the predecessor trustee or predecessor securities administrator shall become effective and such successor trustee or successor securities administrator without any further act, deed or conveyance, 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 or securities administrator herein. The predecessor trustee or predecessor securities administrator shall deliver to the successor trustee or successor securities administrator all Mortgage Loan Documents and related documents and statements to the extent held by it hereunder, as well as all monies, held by it hereunder, and the Depositor and the predecessor trustee or predecessor securities administrator 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 or successor securities administrator all such rights, powers, duties and obligations. No successor trustee or successor securities administrator shall accept appointment as provided in this Section unless at the time of such acceptance such successor trustee or successor securities administrator shall be eligible under the provisions of Section 9.06 and the appointment of such successor trustee or successor securities administrator shall not result in a downgrading of any Class of Certificates by any Rating Agency, as evidenced by a letter from each Rating Agency. Upon acceptance of appointment by a successor trustee or successor securities administrator as provided in this Section, the Depositor shall mail notice of the succession of such trustee hereunder to all Holders of Certificates at their addresses as shown in the Certificate Register, the Swap Provider and the Cap Counterparty. If the Depositor fails to mail such notice within ten (10) days after acceptance of appointment by the successor trustee or successor securities administrator, the successor trustee or successor securities administrator shall cause such notice to be mailed at the expense of the Depositor.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (ACE Securities Corp. Home Equity Loan Trust, Series 2007-Sl2)
Successor Trustee or Securities Administrator. Any successor trustee or successor securities administrator appointed as provided in Section 9.07 of this Agreement hereof shall execute, acknowledge and deliver to the Depositor and to its predecessor trustee or predecessor securities administrator an instrument accepting such appointment hereunder, hereunder and thereupon the resignation or removal of the predecessor trustee or predecessor securities administrator shall become effective and such successor trustee or successor securities administrator administrator, without any further act, deed or conveyance, 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 or securities administrator Securities Administrator herein. The predecessor trustee or predecessor securities administrator shall deliver to the successor trustee or successor securities administrator all Mortgage Loan Documents and related documents and statements to the extent held by it hereunder, as well as all monies, held by it hereunder, and the Depositor and the predecessor trustee or predecessor securities administrator 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 or successor securities administrator all such rights, powers, duties and obligations. No successor trustee or successor securities administrator shall accept appointment as provided in this Section 9.08 unless at the time of such acceptance such successor trustee or successor securities administrator shall be eligible under the provisions of Section 9.06 9.07 hereof and the its appointment of such successor trustee or successor securities administrator shall not result in a downgrading adversely affect the then current rating of any Class of Certificates by any Rating Agency, as evidenced by a letter from each Rating Agencythe Certificates. Upon acceptance of appointment by a successor trustee or successor securities administrator as provided in this SectionSection 9.08, the Depositor successor trustee or successor securities administrator shall mail notice of the succession of such trustee or securities administrator hereunder to all Holders of Certificates at their addresses as shown in the Certificate RegisterCertificates. If the Depositor successor trustee or successor securities administrator fails to mail such notice within ten (10) days after acceptance of appointment by the successor trustee or successor securities administratorappointment, the successor trustee or successor securities administrator Depositor shall cause such notice to be mailed at the expense of the DepositorTrust Fund. Any Person appointed as successor trustee pursuant to Section 9.08 shall also be required to serve as successor supplemental interest trust trustee under the Swap Agreement, the Basis Risk Cap Agreement, and Interest Rate Cap Agreement.
Appears in 1 contract
Successor Trustee or Securities Administrator. Any successor trustee Trustee or successor securities administrator Securities Administrator appointed as provided in Section 9.07 of this Agreement 9.06 shall execute, acknowledge and deliver to the Depositor Master Servicer and to its predecessor trustee Trustee or predecessor securities administrator Securities Administrator, as applicable, an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the predecessor trustee Trustee or predecessor securities administrator Securities Administrator shall become effective and such successor trustee Trustee or successor securities administrator Securities Administrator, as the case may be, without any further act, deed or conveyance, 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 Trustee or securities administrator Securities Administrator, as applicable, herein. The predecessor trustee Trustee or predecessor securities administrator Securities Administrator shall duly assign, transfer, deliver and pay over to the successor trustee Trustee or successor securities administrator all Securities Administrator, as the case may be, the whole of the Mortgage Loan Documents Files and related documents and statements to the extent held by it hereunder, together with all instruments of transfer and assignment or other documents properly executed as well may be reasonably required to effect such transfer and such of the records or copies thereof maintained by the predecessor Trustee or Securities Administrator in the administration hereof as may be reasonably requested by the successor Trustee or Securities Administrator, as the case may be, and shall thereupon be discharged from all moniesduties and responsibilities under this Agreement. All costs associated with the appointment of a successor Trustee or Securities Administrator (except in any case where the predecessor Trustee or Securities Administrator has been terminated pursuant to the third paragraph of Section 9.06 or if the predecessor Trustee is required to resign as such upon succeeding to the Master Servicer hereunder) shall be paid to the Person that incurred them by the predecessor Trustee or Securities Administrator, held as applicable. Without limiting the predecessor Trustee’s or Securities Administrator’s obligation, if the predecessor Trustee or Securities Administrator, as applicable, fails to pay such costs, such costs shall be reimbursed by it the Trust; provided, however, that if the predecessor Trustee or Securities Administrator has been terminated pursuant to the third paragraph of Section 9.06 or if the predecessor Trustee is required to resign as such upon succeeding to the Master Servicer hereunder, and all reasonable expenses incurred in complying with this Section 9.07 shall be reimbursed by the Depositor and Trust to the predecessor trustee or predecessor securities administrator 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 or successor securities administrator all such rights, powers, duties and obligationsPerson that incurred them. No successor trustee Trustee or successor securities administrator Securities Administrator shall accept appointment as provided in this Section 9.07 unless at the time of such acceptance appointment such successor trustee Trustee or successor securities administrator Securities Administrator, as the case may be, shall be eligible under the provisions of Section 9.06 and the appointment of such successor trustee or successor securities administrator shall not result in a downgrading of any Class of Certificates by any Rating Agency, as evidenced by a letter from each Rating Agency9.05. Upon acceptance of appointment by a successor trustee Trustee or successor securities administrator Securities Administrator, as applicable, as provided in this SectionSection 9.07, the Depositor Master Servicer shall cooperate to mail notice of the succession of such trustee Trustee or Securities Administrator, as the case may be, hereunder to the NIMS Insurer, all Holders of Certificates at their addresses as shown in the Certificate RegisterRegister and to each Rating Agency. If the Depositor Master Servicer fails to mail such notice within ten (10) days after acceptance of appointment by the successor trustee Trustee or successor securities administratorSecurities Administrator, the successor trustee Trustee or successor securities administrator Securities Administrator, as the case may be, shall cause such notice to be mailed at the expense of the DepositorMaster Servicer. The predecessor Trustee and successor Trustee shall notify the Depositor of any such appointment at least two (2) Business Days prior to the effective date thereof and shall provide the Depositor with all information required by the Depositor to comply with its reporting obligation under Item 6.02 of Form 8-K not later than the effective date of such appointment. The predecessor Securities Administrator and successor Securities Administrator shall notify the Depositor of any such appointment at least two (2) Business Days prior to the effective date thereof and shall provide the Depositor with all information required by the Depositor to comply with its reporting obligation under Item 6.02 of Form 8-K not later than the effective date of such appointment.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Banc of America Funding Corp)
Successor Trustee or Securities Administrator. Any successor trustee Trustee or successor securities administrator Securities Administrator appointed as provided in Section 9.07 of this Agreement 9.06 shall execute, acknowledge and deliver to the Depositor Master Servicer and to its predecessor trustee Trustee or predecessor securities administrator Securities Administrator, as applicable, an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the predecessor trustee Trustee or predecessor securities administrator Securities Administrator shall become effective and such successor trustee Trustee or successor securities administrator Securities Administrator, as the case may be, without any further act, deed or conveyance, 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 Trustee or securities administrator herein. The predecessor trustee or predecessor securities administrator shall deliver to the successor trustee or successor securities administrator all Mortgage Loan Documents and related documents and statements to the extent held by it hereunderSecurities Administrator, as well as all moniesapplicable, held by it hereunder, and the Depositor and the predecessor trustee or predecessor securities administrator 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 or successor securities administrator all such rights, powers, duties and obligationsherein. No successor trustee Trustee or successor securities administrator Securities Administrator shall accept appointment as provided in this Section 9.07 unless at the time of such acceptance appointment such successor trustee Trustee or successor securities administrator Securities Administrator, as the case may be, shall be eligible under the provisions of Section 9.06 and the appointment of such successor trustee or successor securities administrator shall not result in a downgrading of any Class of Certificates by any Rating Agency, as evidenced by a letter from each Rating Agency9.05. Upon acceptance of appointment by a successor trustee Trustee or successor securities administrator Securities Administrator, as applicable, as provided in this SectionSection 9.07, the Depositor Master Servicer shall cooperate to mail notice of the succession of such trustee Trustee or Securities Administrator, as the case may be, hereunder to all Holders of Certificates at their addresses as shown in the Certificate RegisterRegister and to each Rating Agency. If the Depositor Master Servicer fails to mail such notice within ten (10) days after acceptance of appointment by the successor trustee Trustee or successor securities administratorSecurities Administrator, the successor trustee Trustee or successor securities administrator Securities Administrator, as the case may be, shall cause such notice to be mailed at the expense of the DepositorMaster Servicer.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (SunTrust Alternative Loan Trust, Series 2005-1f)
Successor Trustee or Securities Administrator. Any successor trustee Trustee or successor securities administrator Securities Administrator appointed as provided in Section 9.07 of this Agreement 9.06 shall execute, acknowledge and deliver to the Depositor Servicer and to its predecessor trustee Trustee or predecessor securities administrator Securities Administrator, as applicable, an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the predecessor trustee Trustee or predecessor securities administrator Securities Administrator shall become effective and such successor trustee Trustee or successor securities administrator Securities Administrator, as the case may be, without any further act, deed or conveyance, 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 Trustee or securities administrator Securities Administrator, as applicable, herein. The predecessor trustee Trustee or predecessor securities administrator Securities Administrator shall duly assign, transfer, deliver and pay over to the successor trustee Trustee or successor securities administrator all Securities Administrator, as the case may be, the whole of the Owner Mortgage Loan Documents Files (and Retained Mortgage Files, if applicable) and related documents and statements to the extent held by it hereunder, together with all instruments of transfer and assignment or other documents properly executed as well may be reasonably required to effect such transfer and such of the records or copies thereof maintained by the predecessor Trustee or Securities Administrator in the administration hereof as all moniesmay be reasonably requested by the successor Trustee or Securities Administrator, held by it hereunderas the case may be, and the Depositor shall thereupon be discharged from all duties and responsibilities under this Agreement; provided, however, that if the predecessor trustee Trustee or Securities Administrator has been removed pursuant to the third paragraph of Section 9.06, all reasonable expenses of the predecessor securities administrator Trustee or Securities Administrator incurred in complying with this Section 9.07 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 reimbursed by the successor trustee or successor securities administrator all such rights, powers, duties and obligationsTrust. No successor trustee Trustee or successor securities administrator Securities Administrator shall accept appointment as provided in this Section 9.07 unless at the time of such acceptance appointment such successor trustee Trustee or successor securities administrator Securities Administrator, as the case may be, shall be eligible under the provisions of Section 9.06 and the appointment of such successor trustee or successor securities administrator shall not result in a downgrading of any Class of Certificates by any Rating Agency, as evidenced by a letter from each Rating Agency9.05. Upon acceptance of appointment by a successor trustee Trustee or successor securities administrator Securities Administrator, as applicable, as provided in this SectionSection 9.07, the Depositor Servicer shall cooperate to mail notice of the succession of such trustee Trustee or Securities Administrator, as the case may be, hereunder to all Holders of Certificates at their addresses as shown in the Certificate RegisterRegister and to each Rating Agency. If the Depositor Servicer fails to mail such notice within ten (10) days after acceptance of appointment by the successor trustee Trustee or successor securities administratorSecurities Administrator, the successor trustee Trustee or successor securities administrator Securities Administrator, as the case may be, shall cause such notice to be mailed at the expense of the DepositorServicer.
Appears in 1 contract
Successor Trustee or Securities Administrator. Any successor trustee or successor securities administrator appointed as provided in Section 9.07 of this Agreement 8.07 shall execute, acknowledge and deliver to the Depositor and its predecessor trustee or predecessor securities administrator an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the predecessor trustee or predecessor securities administrator shall become effective and such successor trustee or successor securities administrator without any further act, deed or conveyance, 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 or securities administrator herein. The predecessor trustee or predecessor securities administrator shall deliver to the successor trustee or successor securities administrator all Mortgage Loan Documents and related documents and statements to the extent held by it hereunder, as well as all moniesmoneys, held by it hereunder, and the Depositor and the predecessor trustee or predecessor securities administrator 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 or successor securities administrator all such rights, powers, duties and obligations. No successor trustee or successor securities administrator shall accept appointment as provided in this Section unless at the time of such acceptance such successor trustee or successor securities administrator shall be eligible under the provisions of Section 9.06 8.06 and the appointment of such successor trustee or successor securities administrator shall not result in a downgrading of any Class of Certificates by any Rating Agency, as evidenced by a letter from each Rating Agency. Upon acceptance of appointment by a successor trustee or successor securities administrator as provided in this Section, the Depositor shall mail notice of the succession of such trustee hereunder to the Certificate Insurer and to all Holders of Certificates at their addresses as shown in the Certificate Register. If the Depositor fails to mail such notice within ten (10) 10 days after acceptance of appointment by the successor trustee or successor securities administrator, the successor trustee or successor securities administrator shall cause such notice to be mailed at the expense of the Depositor.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Deutsche Alt-B Securities Mortgage Loan Trust, Series 2006-Ab3)
Successor Trustee or Securities Administrator. Any successor trustee Trustee or successor securities administrator Securities Administrator appointed as provided in Section 9.07 of this Agreement 9.06 shall execute, acknowledge and deliver to the Depositor Servicers and to its predecessor trustee Trustee or predecessor securities administrator Securities Administrator, as applicable, an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the predecessor trustee Trustee or predecessor securities administrator Securities Administrator shall become effective and such successor trustee Trustee or successor securities administrator Securities Administrator, as the case may be, without any further act, deed or conveyance, 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 Trustee or securities administrator Securities Administrator, as applicable, herein. The predecessor trustee Trustee or predecessor securities administrator Securities Administrator shall duly assign, transfer, deliver and pay over to the successor trustee Trustee or successor securities administrator all Securities Administrator, as the case may be, the whole of the Owner Mortgage Loan Documents Files (and Retained Mortgage Files, if applicable) and related documents and statements to the extent held by it hereunder, together with all instruments of transfer and assignment or other documents properly executed as well may be reasonably required to effect such transfer and such of the records or copies thereof maintained by the predecessor Trustee or Securities Administrator in the administration hereof as all moniesmay be reasonably requested by the successor Trustee or Securities Administrator, held by it hereunderas the case may be, and the Depositor shall thereupon be discharged from all duties and responsibilities under this Agreement; provided, however, that if the predecessor trustee Trustee or Securities Administrator has been removed pursuant to the third paragraph of Section 9.06, all reasonable expenses of the predecessor securities administrator Trustee or Securities Administrator incurred in complying with this Section 9.07 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 reimbursed by the successor trustee or successor securities administrator all such rights, powers, duties and obligationsTrust. No successor trustee Trustee or successor securities administrator Securities Administrator shall accept appointment as provided in this Section 9.07 unless at the time of such acceptance appointment such successor trustee Trustee or successor securities administrator Securities Administrator, as the case may be, shall be eligible under the provisions of Section 9.06 and the appointment of such successor trustee or successor securities administrator shall not result in a downgrading of any Class of Certificates by any Rating Agency, as evidenced by a letter from each Rating Agency9.05. Upon acceptance of appointment by a successor trustee Trustee or successor securities administrator Securities Administrator, as applicable, as provided in this SectionSection 9.07, the Depositor Servicers shall cooperate to mail notice of the succession of such trustee Trustee or Securities Administrator, as the case may be, hereunder to all Holders of Certificates at their addresses as shown in the Certificate RegisterRegister and to each Rating Agency. If the Depositor fails Servicers fail to mail such notice within ten (10) days after acceptance of appointment by the successor trustee Trustee or successor securities administratorSecurities Administrator, the successor trustee Trustee or successor securities administrator Securities Administrator, as the case may be, shall cause such notice to be mailed at the expense of the DepositorServicers.
Appears in 1 contract
Successor Trustee or Securities Administrator. Any successor trustee or successor securities administrator appointed as provided in Section 9.07 of this Agreement 8.07 shall execute, acknowledge and deliver to the Depositor and its predecessor trustee or predecessor securities administrator an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the predecessor trustee or predecessor securities administrator shall become effective and such successor trustee or successor securities administrator without any further act, deed or conveyance, 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 or securities administrator herein. The predecessor trustee or predecessor securities administrator shall deliver to the successor trustee or successor securities administrator all Mortgage Loan Documents and related documents and statements to the extent held by it hereunder, as well as all moniesmoneys, held by it hereunder, and the Depositor and the predecessor trustee or predecessor securities administrator 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 or successor securities administrator all such rights, powers, duties and obligations. No successor trustee or successor securities administrator shall accept appointment as provided in this Section unless at the time of such acceptance such successor trustee or successor securities administrator shall be eligible under the provisions of Section 9.06 8.06 and the appointment of such successor trustee or successor securities administrator shall not result in a downgrading of any Class of Certificates by any Rating AgencyAgency (without regard to the Policy), as evidenced by a letter from each Rating Agency. Upon acceptance of appointment by a successor trustee or successor securities administrator as provided in this Section, the Depositor shall mail notice of the succession of such trustee hereunder to the Insurer and to all Holders of Certificates at their addresses as shown in the Certificate Register. If the Depositor fails to mail such notice within ten (10) 10 days after acceptance of appointment by the successor trustee or successor securities administrator, the successor trustee or successor securities administrator shall cause such notice to be mailed at the expense of the Depositor.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Deutsche Alt-B Securities Mortgage Loan Trust, Series 2006-Ab4)
Successor Trustee or Securities Administrator. Any successor trustee Trustee or successor securities administrator Securities Administrator appointed as provided in Section 9.07 of this Agreement 8.07 shall execute, acknowledge and deliver to the Depositor Depositor, the NIMS Insurer, the Rating Agencies, the Master Servicer, the Servicer and to its predecessor trustee Trustee or predecessor securities administrator Securities Administrator, as the case may be, an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the predecessor trustee Trustee or predecessor securities administrator Securities Administrator shall become effective effective, and such successor trustee Trustee or successor securities administrator Securities Administrator, without any further act, deed or conveyance, 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 Trustee or securities administrator hereinSecurities Administrator, as the case may be. The predecessor trustee or predecessor securities administrator shall deliver to Depositor, the successor trustee or successor securities administrator all Mortgage Loan Documents and related documents and statements to the extent held by it hereunder, as well as all monies, held by it hereunder, and the Depositor Master Servicer and the predecessor trustee Trustee or predecessor securities administrator Securities Administrator 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 Trustee or successor securities administrator Securities Administrator, as the case may be, all such rights, powers, duties and obligations. No successor trustee Trustee or successor securities administrator Securities Administrator shall accept appointment as provided in this Section 8.08 unless at the time of such acceptance such successor trustee Trustee or successor securities administrator Securities Administrator, as the case may be, shall be eligible under the provisions of Section 9.06 8.06 and the appointment of such successor trustee Trustee or successor securities administrator Securities Administrator, as applicable, shall not result in a downgrading of any Class of the Regular Certificates by any either Rating Agency, as evidenced by a letter from each Rating Agency. Upon acceptance of appointment by a successor trustee Trustee or successor securities administrator Securities Administrator, as applicable, as provided in this SectionSection 8.08, the Depositor Master Servicer shall cooperate to mail notice of the succession of such trustee Trustee or Securities Administrator, as the case may be, hereunder to all Holders of Certificates at their addresses as shown in the Certificate Register, to the NIMS Insurer and to each Rating Agency. If the Depositor Master Servicer fails to mail such notice within ten (10) days after acceptance of appointment by the successor trustee Trustee or successor securities administratorSecurities Administrator, the successor trustee Trustee or successor securities administrator Securities Administrator, as the case may be, shall cause such notice to be mailed at the expense of the DepositorMaster Servicer. The predecessor Trustee and successor Trustee shall notify the Depositor of any such appointment at least two Business Days prior to the effective date thereof and shall provide the Depositor with all information required by the Depositor to comply with its reporting obligation under Item 6.02 of Form 8-K not later than the effective date of such appointment. The predecessor Securities Administrator and successor Securities Administrator shall notify the Depositor of any such appointment at least two Business Days prior to the effective date thereof and shall provide the Depositor with all information required by the Depositor to comply with its reporting obligation under Item 6.02 of Form 8-K not later than the effective date of such appointment.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (ABFC 2007-Wmc1 Trust)
Successor Trustee or Securities Administrator. Any successor trustee or successor securities administrator Securities Administrator appointed as provided in Section 9.07 of this Agreement hereof shall execute, acknowledge and deliver to the Depositor and to its predecessor trustee or predecessor securities administrator an Securities Administrator instrument accepting such appointment hereunder, hereunder and thereupon the resignation or removal of the predecessor trustee or predecessor securities administrator Securities Administrator shall become effective and such successor trustee or successor securities administrator Securities Administrator, without any further act, deed or conveyance, 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 or securities administrator Securities Administrator herein. The predecessor trustee or predecessor securities administrator Securities Administrator shall deliver to the successor trustee or successor securities administrator Securities Administrator all Mortgage Loan Documents and related documents and statements to the extent held by it hereunder, as well as all monies, held by it hereunder, and the Depositor and the predecessor trustee or predecessor securities administrator Securities Administrator 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 or successor securities administrator Securities Administrator all such rights, powers, duties and obligations. No successor trustee or successor securities administrator Securities Administrator shall accept appointment as provided in this Section 9.08 unless at the time of such acceptance such successor trustee or successor securities administrator Securities Administrator shall be eligible under the provisions of Section 9.06 9.07 hereof and the its appointment of such successor trustee or successor securities administrator shall not result in a downgrading adversely affect the then current rating of any Class of the Certificates by any Rating Agency, as evidenced by a letter from each Rating Agency(without regard to the Policy). Upon acceptance of appointment by a successor trustee or successor securities administrator Securities Administrator as provided in this SectionSection 9.08, the Depositor successor trustee or successor Securities Administrator shall mail notice of the succession of such trustee or Securities Administrator hereunder to all Holders of Certificates at their addresses as shown in the Certificate RegisterCertificates. If the Depositor successor trustee or successor Securities Administrator fails to mail such notice within ten (10) days after acceptance of appointment by the successor trustee or successor securities administratorappointment, the successor trustee or successor securities administrator Depositor shall cause such notice to be mailed at the expense of the DepositorTrust Fund.
Appears in 1 contract
Successor Trustee or Securities Administrator. Any successor trustee or successor securities administrator appointed as provided in Section 9.07 of this Agreement shall execute, acknowledge and deliver to the Depositor Depositor, the Sponsor and its predecessor trustee or predecessor securities administrator an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the predecessor trustee or predecessor securities administrator shall become effective and such successor trustee or successor securities administrator without any further act, deed or conveyance, 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 or securities administrator herein. The predecessor trustee or predecessor securities administrator shall deliver to the successor trustee or successor securities administrator all Mortgage Loan Documents and related documents and statements to the extent held by it hereunder, as well as all monies, held by it hereunder, and the Depositor Depositor, the Sponsor and the predecessor trustee or predecessor securities administrator 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 or successor securities administrator all such rights, powers, duties and obligations. No successor trustee or successor securities administrator shall accept appointment as provided in this Section unless at the time of such acceptance such successor trustee or successor securities administrator shall be eligible under the provisions of Section 9.06 and the appointment of such successor trustee or successor securities administrator shall not result in a downgrading of any Class of Certificates by any Rating Agency, as evidenced by a letter from each Rating Agency. Upon acceptance of appointment by a successor trustee, successor supplemental interest trust trustee or successor securities administrator as provided in this Section, the Depositor related successor shall mail notice of the succession of such trustee hereunder to all Holders of Certificates at their addresses as shown in the Certificate Register. If , the Depositor fails to mail such notice within ten (10) days after acceptance of appointment by and the successor trustee or successor securities administrator, the successor trustee or successor securities administrator shall cause such notice to be mailed at the expense of the DepositorSwap Provider.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (SunTrust Acquisition Closed-End Seconds Trust, Series 2007-1)
Successor Trustee or Securities Administrator. Any successor trustee or successor securities administrator appointed as provided in Section 9.07 of this Agreement 7.07 hereof shall execute, acknowledge and deliver to the Depositor and Depositor, the Seller, its predecessor trustee or predecessor securities administrator and the Servicer[s] an instrument accepting such appointment hereunder, hereunder and thereupon the resignation or removal of the predecessor trustee or predecessor securities administrator shall become effective and such successor trustee or successor securities administrator administrator, without any further act, deed or conveyance, 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 or securities administrator herein. The predecessor trustee or predecessor securities administrator shall deliver to Depositor, the successor trustee or successor securities administrator all Mortgage Loan Documents and related documents and statements to Servicer[s], the extent held by it hereunder, as well as all monies, held by it hereunder, and the Depositor Seller and the predecessor trustee or predecessor securities administrator 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 or successor securities administrator all such rights, powers, duties duties, and obligations. No successor trustee or successor securities administrator shall accept appointment as provided in this Section 7.08 unless at the time of such acceptance such successor trustee or successor securities administrator shall be eligible under the provisions of Section 9.06 7.06 hereof, and the such appointment of such successor trustee or successor securities administrator shall not result in a downgrading adversely affect the then current rating of any Class of Certificates by any Rating Agency, as evidenced by a letter from each Rating Agencythe Certificates. Upon acceptance of appointment by a successor trustee or successor securities administrator as provided in this SectionSection 7.08, the Depositor shall mail notice of the succession of such trustee or securities administrator hereunder to all Holders of Certificates at their addresses as shown in the Certificate RegisterCertificates. If the Depositor fails to mail such notice within ten ([10) ] days after acceptance of appointment by the successor trustee or successor securities administrator, the successor trustee or successor securities administrator shall cause such notice to be mailed at the expense of the Depositor.
Appears in 1 contract
Successor Trustee or Securities Administrator. Any successor trustee or successor securities administrator appointed as provided in Section 9.07 of this Agreement shall execute, acknowledge and deliver to the Depositor and its predecessor trustee or predecessor securities administrator an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the predecessor trustee or predecessor securities administrator shall become effective and such successor trustee or successor securities administrator without any further act, deed or conveyance, 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 or securities administrator herein. The predecessor trustee or predecessor securities administrator shall deliver to the successor trustee or successor securities administrator all Mortgage Loan Documents Files and related documents and statements to the extent held by it hereunder, as well as all moniesmoneys, held by it hereunder, and the Depositor and the predecessor trustee or predecessor securities administrator 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 or successor securities administrator all such rights, powers, duties and obligations. No successor trustee or successor securities administrator shall accept appointment as provided in this Section unless at the time of such acceptance such successor trustee or successor securities administrator shall be eligible under the provisions of Section 9.06 8.06 and the appointment of such successor trustee or successor securities administrator shall not result in a downgrading of any Class of Certificates by any Rating Agency, as evidenced by a letter from each Rating Agency. Upon acceptance of appointment by a successor trustee or successor securities administrator as provided in this Section, the Depositor shall mail notice of the succession of such trustee hereunder to all Holders of Certificates at their addresses as shown in the Certificate Register. If the Depositor fails to mail such notice within ten (10) 10 days after acceptance of appointment by the successor trustee or successor securities administrator, the successor trustee or successor securities administrator shall cause such notice to be be-mailed at the expense of the Depositor.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (SG Mortgage Securities Trust 2006-Opt2)
Successor Trustee or Securities Administrator. Any successor trustee or successor securities administrator appointed as provided in Section 9.07 of this Agreement 8.07 shall execute, acknowledge and deliver to the Depositor and its predecessor trustee or predecessor securities administrator an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the predecessor trustee or predecessor securities administrator shall become effective and such successor trustee or successor securities administrator without any further act, deed or conveyance, 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 or securities administrator herein. The predecessor trustee or predecessor securities administrator shall deliver to the successor trustee or successor securities administrator all Mortgage Loan Documents and related documents and statements to the extent held by it hereunder, as well as all moniesmoneys, held by it hereunder, and the Depositor and the predecessor trustee or predecessor securities administrator 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 or successor securities administrator all such rights, powers, duties and obligations. No successor trustee or successor securities administrator shall accept appointment as provided in this Section unless at the time of such acceptance such successor trustee or successor securities administrator shall be eligible under the provisions of Section 9.06 8.06 and the appointment of such successor trustee or successor securities administrator shall not result in a downgrading of any Class of Certificates by any Rating AgencyAgency (determined without regard to the Class A-2B Policy), as evidenced by a letter from each Rating Agency. Upon acceptance of appointment by a successor trustee or successor securities administrator as provided in this Section, the Depositor shall mail notice of the succession of such trustee hereunder to all Holders of Certificates at their addresses as shown in the Certificate RegisterRegister and MBIA. If the Depositor fails to mail such notice within ten (10) 10 days after acceptance of appointment by the successor trustee or successor securities administrator, the successor trustee or successor securities administrator shall cause such notice to be mailed at the expense of the Depositor.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Ace Securities Corp Home Equity Loan Trust Series 2002-He2)
Successor Trustee or Securities Administrator. Any successor trustee Trustee or successor securities administrator Securities Administrator appointed as provided in Section 9.07 of this Agreement 8.07 shall execute, acknowledge and deliver to the Depositor Depositor, the NIMS Insurer, the Rating Agencies, the Master Servicer, the Servicers and to its predecessor trustee Trustee or predecessor securities administrator Securities Administrator, as the case may be, an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the predecessor trustee Trustee or predecessor securities administrator Securities Administrator shall become effective effective, and such successor trustee Trustee or successor securities administrator Securities Administrator, without any further act, deed or conveyance, 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 Trustee or securities administrator hereinSecurities Administrator, as the case may be. The predecessor trustee or predecessor securities administrator shall deliver to Depositor, the successor trustee or successor securities administrator all Mortgage Loan Documents and related documents and statements to the extent held by it hereunder, as well as all monies, held by it hereunder, and the Depositor Master Servicer and the predecessor trustee Trustee or predecessor securities administrator Securities Administrator 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 Trustee or successor securities administrator Securities Administrator, as the case may be, all such rights, powers, duties and obligations. No successor trustee Trustee or successor securities administrator Securities Administrator shall accept appointment as provided in this Section 8.08 unless at the time of such acceptance such successor trustee Trustee or successor securities administrator Securities Administrator, as the case may be, shall be eligible under the provisions of Section 9.06 8.06 and the appointment of such successor trustee Trustee or successor securities administrator Securities Administrator, as applicable, shall not result in a downgrading of any Class of the Regular Certificates by any either Rating Agency, as evidenced by a letter from each Rating Agency. Upon acceptance of appointment by a successor trustee Trustee or successor securities administrator Securities Administrator, as applicable, as provided in this SectionSection 8.08, the Depositor Master Servicer shall cooperate to mail notice of the succession of such trustee Trustee or Securities Administrator, as the case may be, hereunder to all Holders of Certificates at their addresses as shown in the Certificate Register, to the NIMS Insurer and to each Rating Agency. If the Depositor Master Servicer fails to mail such notice within ten (10) days after acceptance of appointment by the successor trustee Trustee or successor securities administratorSecurities Administrator, the successor trustee Trustee or successor securities administrator Securities Administrator, as the case may be, shall cause such notice to be mailed at the expense of the DepositorMaster Servicer.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (ABFC Asset-Backed Certificates, Series 2004-He1)
Successor Trustee or Securities Administrator. Any successor trustee or successor securities administrator appointed as provided in Section 9.07 of this Agreement shall execute, acknowledge and deliver to the Depositor and its predecessor trustee or predecessor securities administrator an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the predecessor trustee or predecessor securities administrator shall become effective and such successor trustee or successor securities administrator without any further act, deed or conveyance, 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 or securities administrator herein. The predecessor trustee or predecessor securities administrator shall deliver to the successor trustee or successor securities administrator all Mortgage Loan Documents and related documents and statements to the extent held by it hereunder, as well as all monies, held by it hereunder, and the Depositor and the predecessor trustee or predecessor securities administrator 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 or successor securities administrator all such rights, powers, duties and obligations. No successor trustee or successor securities administrator shall accept appointment as provided in this Section unless at the time of such acceptance such successor trustee or successor securities administrator shall be eligible under the provisions of Section 9.06 8.06 and the appointment of such successor trustee or successor securities administrator shall not result in a downgrading of any Class of Certificates by any Rating Agency, as evidenced by a letter from each Rating Agency. Upon acceptance of appointment by a successor trustee or successor securities administrator as provided in this Section, the Depositor shall mail notice of the succession of such trustee hereunder to all Holders of Certificates at their addresses as shown in the Certificate Register. If the Depositor fails to mail such notice within ten (10) 10 days after acceptance of appointment by the successor trustee or successor securities administrator, the successor trustee or successor securities administrator shall cause such notice to be mailed at the expense of the Depositor.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (ACE Securities Corp., Home Equity Loan Trust, Series 2005-Wf1)
Successor Trustee or Securities Administrator. Any successor trustee Trustee or successor securities administrator Securities Administrator appointed as provided in Section 9.07 of this Agreement 9.06 shall execute, acknowledge and deliver to the Depositor Master Servicer and to its predecessor trustee Trustee or predecessor securities administrator Securities Administrator, as applicable, an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the predecessor trustee Trustee or predecessor securities administrator Securities Administrator shall become effective and such successor trustee Trustee or successor securities administrator Securities Administrator, as the case may be, without any further act, deed or conveyance, 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 Trustee or securities administrator Securities Administrator, as applicable, herein. The predecessor trustee Trustee or predecessor securities administrator Securities Administrator shall duly assign, transfer, deliver and pay over to the successor trustee Trustee or successor securities administrator all Securities Administrator, as the case may be, the whole of the Mortgage Loan Documents Files and related documents and statements to the extent held by it hereunderhereunder and any documents relating to the Mortgage Certificates, together with all instruments of transfer and assignment or other documents properly executed as may be reasonably required to effect such transfer and such of the records or copies thereof maintained by the predecessor Trustee or Securities Administrator in the administration hereof as may be reasonably requested by the successor Trustee or Securities Administrator, as well as all monies, held by it hereunderthe case may be, and the Depositor shall thereupon be discharged from all duties and responsibilities under this Agreement; provided, however, that if the predecessor trustee Trustee or Securities Administrator has been removed pursuant to the third paragraph of Section 9.06, all reasonable expenses of the predecessor securities administrator Trustee or Securities Administrator incurred in complying with this Section 9.07 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 reimbursed by the successor trustee or successor securities administrator all such rights, powers, duties and obligationsTrust. No successor trustee Trustee or successor securities administrator Securities Administrator shall accept appointment as provided in this Section 9.07 unless at the time of such acceptance appointment such successor trustee Trustee or successor securities administrator Securities Administrator, as the case may be, shall be eligible under the provisions of Section 9.06 and the appointment of such successor trustee or successor securities administrator shall not result in a downgrading of any Class of Certificates by any Rating Agency, as evidenced by a letter from each Rating Agency9.05. Upon acceptance of appointment by a successor trustee Trustee or successor securities administrator Securities Administrator, as applicable, as provided in this SectionSection 9.07, the Depositor Master Servicer shall cooperate to mail notice of the succession of such trustee Trustee or Securities Administrator, as the case may be, hereunder to all Holders of Certificates at their addresses as shown in the Certificate RegisterRegister and to each Rating Agency. If the Depositor Master Servicer fails to mail such notice within ten (10) days after acceptance of appointment by the successor trustee Trustee or successor securities administratorSecurities Administrator, the successor trustee Trustee or successor securities administrator Securities Administrator, as the case may be, shall cause such notice to be mailed at the expense of the DepositorMaster Servicer.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Banc of America Funding 2005-3 Trust)
Successor Trustee or Securities Administrator. Any successor trustee or successor securities administrator appointed as provided in Section 9.07 of this Agreement shall execute, acknowledge and deliver to the Depositor and its predecessor trustee 163 Pooling and Servicing Agreement or predecessor securities administrator an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the predecessor trustee or predecessor securities administrator shall become effective and such successor trustee or successor securities administrator without any further act, deed or conveyance, 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 or securities administrator herein. The predecessor trustee or predecessor securities administrator shall deliver to the successor trustee or successor securities administrator all Mortgage Loan Documents Files and related documents and statements to the extent held by it hereunder, as well as all moniesmoneys, held by it hereunder, and the Depositor and the predecessor trustee or predecessor securities administrator 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 or successor securities administrator all such rights, powers, duties and obligations. No successor trustee or successor securities administrator shall accept appointment as provided in this Section unless at the time of such acceptance such successor trustee or successor securities administrator shall be eligible under the provisions of Section 9.06 8.06 and the appointment of such successor trustee or successor securities administrator shall not result in a downgrading of any Class of Certificates by any Rating Agency, as evidenced by a letter from each Rating Agency. Upon acceptance of appointment by a successor trustee or successor securities administrator as provided in this Section, the Depositor shall mail notice of the succession of such trustee hereunder to all Holders of Certificates at their addresses as shown in the Certificate Register. If the Depositor fails to mail such notice within ten (10) 10 days after acceptance of appointment by the successor trustee or successor securities administrator, the successor trustee or successor securities administrator shall cause such notice to be mailed at the expense of the Depositor.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (SG Mortgage Securities Trust 2006-Fre1)
Successor Trustee or Securities Administrator. Any successor trustee or successor securities administrator appointed as provided in Section 9.07 of this Agreement shall execute, acknowledge and deliver to the Depositor and its predecessor trustee or predecessor securities administrator an instrument accepting such appointment hereunder, and thereupon thereupon, the resignation or removal of the predecessor trustee or predecessor securities administrator shall become effective effective, and such successor trustee or successor securities administrator administrator, without any further act, deed or conveyance, 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 or securities administrator herein. The predecessor trustee or predecessor securities administrator shall deliver to the successor trustee or successor securities administrator all Mortgage Loan Documents and related documents and statements statements, to the extent held by it hereunder, as well as all monies, moneys held by it hereunder, and the Depositor and the predecessor trustee or predecessor securities administrator 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 or successor securities administrator all such rights, powers, duties and obligations. No successor trustee or successor securities administrator shall accept appointment as provided in this Section unless 9.08 unless, at the time of such acceptance acceptance, such successor trustee or successor securities administrator shall be eligible under the provisions of Section 9.06 9.08 and the appointment of such successor trustee or successor securities administrator shall not result in a downgrading of any Class of Certificates by any Rating Agency, as evidenced by a letter from each Rating Agency. Upon acceptance of appointment by a successor trustee or successor securities administrator as provided in this SectionSection 9.08, the Depositor shall mail notice of the succession of such trustee hereunder to all Holders of Certificates at their addresses as shown in the Certificate Register. If the Depositor fails to mail such notice within ten (10) days after acceptance of appointment by the successor trustee or successor securities administrator, the successor trustee or successor securities administrator shall cause such notice to be mailed at the expense of the Depositor.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (People's Financial Realty Mortgage Securities 2006-1)
Successor Trustee or Securities Administrator. Any successor trustee Trustee or successor securities administrator Securities Administrator appointed as provided in Section 9.07 of this Agreement 9.06 shall execute, acknowledge and deliver to the Depositor Master Servicer and to its predecessor trustee Trustee or predecessor securities administrator Securities Administrator, as applicable, an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the predecessor trustee Trustee or predecessor securities administrator Securities Administrator shall become effective and such successor trustee Trustee or successor securities administrator Securities Administrator, as the case may be, without any further act, deed or conveyance, 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 Trustee or securities administrator Securities Administrator, as applicable, herein. The predecessor trustee Trustee or predecessor securities administrator Securities Administrator shall duly assign, transfer, deliver and pay over to the successor trustee Trustee or successor securities administrator all Securities Administrator, as the case may be, the whole of the Mortgage Loan Documents Files and related documents and statements to the extent held by it hereunder, together with all instruments of transfer and assignment or other documents properly executed as well may be reasonably required to effect such transfer and such of the records or copies thereof maintained by the predecessor Trustee or Securities Administrator in the administration hereof as all moniesmay be reasonably requested by the successor Trustee or Securities Administrator, held by it hereunderas the case may be, and the Depositor shall thereupon be discharged from all duties and responsibilities under this Agreement; provided, however, that if the predecessor trustee Trustee or Securities Administrator has been removed pursuant to the third paragraph of Section 9.06, 121 all reasonable expenses of the predecessor securities administrator Trustee or Securities Administrator incurred in complying with this Section 9.07 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 reimbursed by the successor trustee or successor securities administrator all such rights, powers, duties and obligationsTrust. No successor trustee Trustee or successor securities administrator Securities Administrator shall accept appointment as provided in this Section 9.07 unless at the time of such acceptance appointment such successor trustee Trustee or successor securities administrator Securities Administrator, as the case may be, shall be eligible under the provisions of Section 9.06 and the appointment of such successor trustee or successor securities administrator shall not result in a downgrading of any Class of Certificates by any Rating Agency, as evidenced by a letter from each Rating Agency9.05. Upon acceptance of appointment by a successor trustee Trustee or successor securities administrator Securities Administrator, as applicable, as provided in this SectionSection 9.07, the Depositor Master Servicer shall cooperate to mail notice of the succession of such trustee Trustee or Securities Administrator, as the case may be, hereunder to all Holders of Certificates at their addresses as shown in the Certificate RegisterRegister and to each Rating Agency. If the Depositor Master Servicer fails to mail such notice within ten (10) days after acceptance of appointment by the successor trustee Trustee or successor securities administratorSecurities Administrator, the successor trustee Trustee or successor securities administrator Securities Administrator, as the case may be, shall cause such notice to be mailed at the expense of the DepositorMaster Servicer.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Banc of America Funding 2006-J Trust)
Successor Trustee or Securities Administrator. Any successor trustee or successor securities administrator appointed as provided in Section 9.07 of this Agreement shall execute, acknowledge and deliver to the Depositor Company and its predecessor trustee or predecessor securities administrator an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the predecessor trustee or predecessor securities administrator shall become effective and such successor trustee or successor securities administrator without any further act, deed or conveyance, 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 or securities administrator herein. The predecessor trustee or predecessor securities administrator shall deliver to the successor trustee or successor securities administrator all Mortgage Loan Documents and related documents and statements to the extent held by it hereunder, as well as all moniesmoneys, held by it hereunder, and the Depositor Company and the predecessor trustee or predecessor securities administrator 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 or successor securities administrator all such rights, powers, duties and obligations. No successor trustee or successor securities administrator shall accept appointment as provided in this Section unless at the time of such acceptance such successor trustee or successor securities administrator shall be eligible under the provisions of Section 9.06 8.06 and the appointment of such successor trustee or successor securities administrator shall not result in a downgrading of any Class of Certificates by any Rating Agency, as evidenced by a letter from each Rating Agency. Upon acceptance of appointment by a successor trustee or successor securities administrator as provided in this Section, the Depositor Company shall mail notice of the succession of such trustee hereunder to all Holders of Certificates at their addresses as shown in the Certificate Register. If the Depositor Company fails to mail such notice within ten (10) 10 days after acceptance of appointment by the successor trustee or successor securities administrator, the successor trustee or successor securities administrator shall cause such notice to be mailed at the expense of the DepositorCompany.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Peoples Choice Home Loan Securities Trust Series 2004-1)
Successor Trustee or Securities Administrator. Any successor trustee or successor securities administrator appointed as provided in Section 9.07 of this Agreement shall execute, acknowledge and deliver to the Depositor Company and its predecessor trustee or predecessor securities administrator an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the predecessor trustee or predecessor securities administrator shall become effective and such successor trustee or successor securities administrator without any further act, deed or conveyance, 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 or securities administrator herein. The predecessor trustee or predecessor securities administrator shall deliver to the successor trustee or successor securities administrator all Mortgage Loan Documents and related documents and statements to the extent held by it hereunder, as well as all moniesmoneys, held by it hereunder, and the Depositor Company and the predecessor trustee or predecessor securities administrator 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 or successor securities administrator all such rights, powers, duties and obligations. No successor trustee or successor securities administrator shall accept appointment as provided in this Section unless at the time of such acceptance such successor trustee or successor securities administrator shall be eligible under the provisions of Section 9.06 9.08 and the appointment of such successor trustee or successor securities administrator shall not result in a downgrading of any Class of Certificates by any Rating Agency, as evidenced by a letter from each Rating Agency. Upon acceptance of appointment by a successor trustee or successor securities administrator as provided in this Section, the Depositor Company shall mail notice of the succession of such trustee hereunder to all Holders of Certificates at their addresses as shown in the Certificate Register. If the Depositor Company fails to mail such notice within ten (10) 10 days after acceptance of appointment by the successor trustee or successor securities administrator, the successor trustee or successor securities administrator shall cause such notice to be mailed at the expense of the DepositorCompany.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Peoples Choice Home Loan Securities Trust Series 2004-2)
Successor Trustee or Securities Administrator. Any successor trustee Trustee or successor securities administrator Securities Administrator appointed as provided in Section 9.07 of this Agreement 8.07 shall execute, acknowledge and deliver to the Depositor Depositor, the Designated Successor Servicer, the Servicer, the Master Servicer, the Custodian and to its predecessor trustee Trustee or predecessor securities administrator Securities Administrator, as applicable, an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the predecessor trustee Trustee or predecessor securities administrator Securities Administrator, as the case may be, shall become effective effective, and such successor trustee Trustee or successor securities administrator Securities Administrator, as applicable, without any further act, deed or conveyance, 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 Trustee or securities administrator hereinSecurities Administrator, as the case may be. The predecessor trustee or predecessor securities administrator shall deliver other parties to the successor trustee or successor securities administrator all Mortgage Loan Documents and related documents and statements to the extent held by it hereunder, as well as all monies, held by it hereunder, and the Depositor this Agreement and the predecessor trustee Trustee or predecessor securities administrator Securities Administrator, as the case may be, 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 Trustee or successor securities administrator Securities Administrator, as applicable, all such rights, powers, duties and obligations. No successor trustee Trustee or successor securities administrator Securities Administrator shall accept appointment as provided in this Section 8.08 unless at the time of such acceptance such successor trustee Trustee or successor securities administrator Securities Administrator, as applicable, shall be eligible under the provisions of Section 9.06 and the appointment of such successor trustee or successor securities administrator shall not result in a downgrading of any Class of Certificates by any Rating Agency, as evidenced by a letter from each Rating Agency8.06. Upon acceptance of appointment by a successor trustee Trustee or successor securities administrator Securities Administrator, as applicable, as provided in this SectionSection 8.08, the Depositor Master Servicer shall mail notice of the succession of such trustee Trustee or Securities Administrator, as the case may be, hereunder to all Holders of Certificates at their addresses as shown in the Certificate Register. If the Depositor Master Servicer fails to mail such notice within ten (10) days after acceptance of appointment by the successor trustee Trustee or successor securities administratorSecurities Administrator, as applicable, the successor trustee Trustee or successor securities administrator Securities Administrator, as the case may be, shall cause such notice to be mailed at the expense of the DepositorMaster Servicer.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (American General Finance Inc)
Successor Trustee or Securities Administrator. Any successor trustee or successor securities administrator appointed as provided in Section 9.07 of this Agreement 8.7 shall execute, acknowledge and deliver to the Depositor and its predecessor trustee or predecessor securities administrator an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the predecessor trustee or predecessor securities administrator shall become effective and such successor trustee or successor securities administrator without any further act, deed or conveyance, 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 or securities administrator herein. The predecessor trustee or predecessor securities administrator shall deliver to the successor trustee or successor securities administrator all Mortgage Loan Documents and related documents and statements to the extent held by it hereunder, as well as all moniesmoneys, held by it hereunder, and the Depositor and the predecessor trustee or predecessor securities administrator 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 or successor securities administrator all such rights, powers, duties and obligations. No successor trustee or successor securities administrator shall accept appointment as provided in this Section unless at the time of such acceptance such successor trustee or successor securities administrator shall be eligible under the provisions of Section 9.06 8.6 and the appointment of such successor trustee or successor securities administrator shall not result in a downgrading of any Class of Certificates by any Rating Agency, as evidenced by a letter from each Rating Agency. Upon acceptance of appointment by a successor trustee or successor securities administrator as provided in this Section, the Depositor shall mail notice of the succession of such trustee hereunder to all Holders of Certificates at their addresses as shown in the Certificate Register. If the Depositor fails to mail such notice within ten (10) days after acceptance of appointment by the successor trustee or successor securities administrator, the successor trustee or successor securities administrator shall cause such notice to be mailed at the expense of the Depositor.Certificate
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Mortgage Loan Trust Series 2003-2xs)
Successor Trustee or Securities Administrator. Any successor trustee or successor securities administrator appointed as provided in Section 9.07 of this Agreement shall execute, acknowledge and deliver to the Depositor and its predecessor trustee or predecessor securities administrator an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the predecessor trustee or predecessor securities administrator shall become effective and such successor trustee or successor securities administrator without any further act, deed or conveyance, 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 or securities administrator herein. The predecessor trustee or predecessor securities administrator shall deliver to the successor trustee or successor securities administrator all Mortgage Loan Documents and related documents and statements to the extent held by it hereunder, as well as all moniesmoneys, held by it hereunder, and the Depositor and the predecessor trustee or predecessor securities administrator 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 or successor securities administrator all such rights, powers, duties and obligations. No successor trustee or successor securities administrator shall accept appointment as provided in this Section unless at the time of such acceptance such successor trustee or successor securities administrator shall be eligible under the provisions of Section 9.06 8.06 and the appointment of such successor trustee or successor securities administrator shall not result in a downgrading of any Class of Certificates by any Rating AgencyAgency (determined without regard to the Class A-2B Policy), as evidenced by a letter from each Rating Agency. Upon acceptance of appointment by a successor trustee or successor securities administrator as provided in this Section, the Depositor shall mail notice of the succession of such trustee hereunder to MBIA and all Holders of Certificates at their addresses as shown in the Certificate Register. If the Depositor fails to mail such notice within ten (10) 10 days after acceptance of appointment by the successor trustee or successor securities administrator, the successor trustee or successor securities administrator shall cause such notice to be mailed at the expense of the Depositor.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Ace Securities Corp Home Equity Loan Trust Series 2003 Hs1)