Common use of Transmission of Custodial Files Clause in Contracts

Transmission of Custodial Files. Written instructions as to the method of shipment and shipper(s) the Custodian is directed to utilize in connection with transmission of Custodial Files in the performance of the Custodian’s duties hereunder shall be delivered by the related Servicer to the Custodian prior to any shipment of any Custodial Files hereunder. The Trustee will arrange for the provision of such services at the reasonable cost and expense of the Trust (or, at the Custodian’s option, the Trust shall reimburse the Custodian for all costs and expenses incurred by the Custodian consistent with such instructions). Without limiting the generality of the provisions of Section 26 above, it is expressly agreed that in no event shall the Custodian have any liability for any losses or damages to any person, including without limitation, the Trustee arising out of actions of the Custodian consistent with instructions of the Trustee. In the absence of written instructions, the Custodian may ship the Custodial Files by any nationally recognized courier and will be held harmless against any losses as stated in Section 26.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Five Oaks Investment Corp.)

AutoNDA by SimpleDocs

Transmission of Custodial Files. Written instructions as to the method of shipment and shipper(s) the Custodian is directed to utilize in connection with transmission of Custodial Mortgage Files and loan documents in the performance of the Custodian’s duties hereunder shall be delivered by the related Servicer to the Custodian prior to any shipment of any Custodial Mortgage Files and loan documents hereunder. The Trustee Such Servicer will arrange for the provision of such services at the reasonable cost and expense of the Trust such Servicer (or, at the Custodian’s option, the Trust such Servicer shall reimburse the Custodian for all costs and expenses incurred by the Custodian consistent with such instructions). Without limiting the generality of the provisions of Section 26 25 above, it is expressly agreed that in no event shall the Custodian have any liability for any losses or damages to any person, including without limitation, the Trustee arising out of actions of the Custodian consistent with written instructions of the Trustee. In Trustee or the absence of written instructions, the Custodian may ship the Custodial Files by any nationally recognized courier and will be held harmless against any losses as stated in Section 26Servicer.

Appears in 1 contract

Samples: Custodial Agreement (Home Equity Mortgage Pass-Through Certificates, Series 2006-1)

Transmission of Custodial Files. Written instructions as to the method of shipment and shipper(s) the Custodian is directed to utilize in connection with the transmission of Custodial Files files and loan documents in the performance of the Custodian’s 's duties hereunder shall be delivered by the related Servicer to the Custodian prior to any shipment of any Custodial Files files and loan documents hereunder. The Trustee Pursuant to this Agreement, the Servicer will arrange for the provision of such services at the reasonable its sole cost and expense of the Trust (or, at the Custodian’s 's option, the Trust shall reimburse the Custodian for all costs and expenses incurred by the Custodian consistent with such instructions)) and will maintain such insurance in connection with shipment of the Custodial Files against loss or damage to files and loan documents as the Servicer deems appropriate. Without limiting the generality of the provisions of Section 26 above3.10 hereof, it is expressly agreed that in no event shall the Custodian have any liability for any losses or damages to any person, including without limitation, the Trustee Indenture Trustee, arising out of actions of the Custodian consistent with instructions of the Trustee. In Servicer unless such instructions are inconsistent with any of the absence of written instructions, the Custodian may ship the Custodial Files by any nationally recognized courier and will be held harmless against any losses as stated in Section 26Basic Documents.

Appears in 1 contract

Samples: Sale and Servicing Agreement (SSB Vehicle Securities Inc)

AutoNDA by SimpleDocs

Transmission of Custodial Files. Written instructions as to the method of shipment and shipper(s) the Custodian is directed to utilize in connection with transmission of Custodial Mortgage Files and loan documents in the performance of the Custodian’s duties hereunder shall be delivered by the related Servicer to the Custodian prior to any shipment of any Custodial Mortgage Files and loan documents hereunder. The Trustee will arrange for the provision of such services at the reasonable cost and expense of the Trust (or, at the Custodian’s option, the Trust shall reimburse the Custodian for all costs and expenses incurred by the Custodian consistent with such instructions). Without limiting the generality of the provisions of Section 26 25 above, it is expressly agreed that in no event shall the Custodian have any liability for any losses or damages to any person, including without limitation, the Trustee arising out of actions of the Custodian consistent with instructions of the Trustee. In the absence of written instructions, the Custodian may ship the Custodial Files mortgage files and loan documents by any nationally recognized courier and will be held harmless against any losses as stated in Section 2625.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Five Oaks Investment Corp.)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!