The Servicer’s Indemnification Obligation. Each Servicer agrees to indemnify the Trustee, the Master Servicer and the Securities Administrator, from, and hold the Trustee, Master Servicer and the Securities Administrator harmless against, any loss, liability or expense (including reasonable attorney’s fees and expenses) incurred by any such Person by reason of such Servicer’s willful misfeasance, bad faith or gross negligence in the performance of its duties under this Agreement or by reason of such Servicer’s reckless disregard of its obligations and duties under this Agreement. Such indemnity shall survive the termination or discharge of this Agreement and the resignation or removal of the related Servicer, the Trustee, the Master Servicer and the Securities Administrator. Any payment hereunder made by the related Servicer to any such Person shall be from such Servicer’s own funds, without reimbursement from REMIC I therefor.
Appears in 4 contracts
Samples: Pooling and Servicing Agreement (ACE Securities Corp Home Equity Loan Trust Series 2005-Sd2), Pooling and Servicing Agreement (ACE Securities Corp. Home Equity Loan Trust, Series 2006-Sd1), Pooling and Servicing Agreement (Ace Securities Corp. Home Equity Loan Trust, Series 2005-Sd3)
The Servicer’s Indemnification Obligation. Each The Servicer agrees to indemnify the Trustee, the Master Servicer and the Securities Administrator, from, and hold the Trustee, Master Servicer and the Securities Administrator harmless against, any loss, liability or expense (including reasonable attorney’s fees and expenses) incurred by any such Person by reason of such the Servicer’s willful misfeasance, bad faith or gross negligence in the performance of its duties under this Agreement or by reason of such the Servicer’s reckless disregard of its obligations and duties under this Agreement. Such indemnity shall survive the termination or discharge of this Agreement and the resignation or removal of the related Servicer, the Trustee, the Master Servicer and the Securities Administrator. Any payment hereunder made by the related Servicer to any such Person shall be from such the Servicer’s own funds, without reimbursement from REMIC I therefor.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (ACE Securities Corp. Home Equity Loan Trust, Series 2006-Sd3)