Common use of The Fiscal Agent Clause in Contracts

The Fiscal Agent. (a) To the extent that the Trustee is required, pursuant to the terms of this Agreement, to make any Payment Advance, whether as successor Master Servicer or otherwise, and has failed to do so in accordance with the terms hereof, the Fiscal Agent shall make such Payment Advance when and as required by the terms of this Agreement on behalf the Trustee as if the Fiscal Agent were the Trustee hereunder. To the extent that the Fiscal Agent makes a Payment Advance pursuant to this Section 8.14, the obligations of the Trustee under this Agreement in respect of such Payment Advance shall be satisfied. Notwithstanding anything contained in this Agreement to the contrary, the Fiscal Agent shall be entitled to all limitations on liability, rights of reimbursement and indemnities that the Trustee is entitled to hereunder as if it were the Trustee.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Salomon Bros Mort Sec Vii Inc Mor Pa THR Cert Se 1997 Hud-1), Pooling and Servicing Agreement (Salomon Bros Mort Sec Vii Inc Mor Pa THR Cert Se 1997 Hud2)

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The Fiscal Agent. (a) To the extent that the Trustee is required, pursuant to the terms of this Agreement, to make any Payment Advance, whether as successor Master Servicer master servicer or otherwise, and has failed to do so in accordance with the terms hereof, the Fiscal Agent shall make such Payment Advance when and as required by the terms of this Agreement on behalf the Trustee as if the Fiscal Agent were the Trustee hereunder. To the extent that the Fiscal Agent makes a Payment an Advance pursuant to this Section 8.148.19 or otherwise pursuant to the Agreement, the obligations of the Trustee under this Agreement in respect of such Payment Advance shall be satisfied. Notwithstanding anything contained in this Agreement to the contrary, the Fiscal Agent shall be entitled to all limitations on liability, rights of reimbursement and indemnities that the Trustee is entitled to hereunder as if it were the Trustee.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (First Union Commercial Mortgage Securities Inc)

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The Fiscal Agent. (a) To the extent that the Trustee is required, pursuant to the terms of this Agreement, to make any Payment Advance, whether as a successor Master Servicer or otherwise, and has failed to do so in accordance with the terms hereof, the Fiscal Agent shall make such Payment Advance when and as required by the terms of this Agreement on behalf of the Trustee as if the Fiscal Agent were the Trustee hereunder. To the extent that the Fiscal Agent makes a Payment an Advance pursuant to this Section 8.1411.17 or otherwise pursuant to the Agreement, the obligations of the Trustee under this Agreement in respect of such Payment Advance shall be satisfied. Notwithstanding anything contained in this Agreement to the contrary, the Fiscal Agent shall be entitled to all limitations on liability, rights of reimbursement and indemnities that the Trustee is entitled to hereunder as if it were the Trustee.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Morgan J P Commercial Mortgage Finance Corp)

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