Common use of Trustee Fee and Expenses Clause in Contracts

Trustee Fee and Expenses. (a) The Trustee shall withdraw from the Distribution Account on each Distribution Date and pay to itself the Trustee Fee. The Trustee shall be reimbursed from the Trust Fund for all reasonable expenses, disbursements and advances incurred or made by the Trustee in accordance with any of the provisions of this Agreement (not including expenses, disbursements and advances incurred or made by the Trustee including the compensation and the expenses and disbursements of its agents and counsel, in the ordinary course of the Trustee’s performance in accordance with the provisions of this Agreement) up to a limit of $25,000 per calendar year except any such expense, disbursement or advance as may arise from its negligence or bad faith or which is the responsibility of Certificateholders or the Trustee hereunder. In addition, the Trustee and its officers, directors, employees and agents shall be entitled to be indemnified for, and held harmless by the Trust Fund against, any and all losses, liabilities, damages, claims or expenses incurred in connection with any legal action relating to this Agreement or the Certificates up to a limit of $600,000 per calendar year, other than (i) any loss, liability or expense incurred by reason of willful misfeasance, bad faith or negligence of the Trustee in the performance of its duties hereunder or by reason of the Trustee’s reckless disregard of obligations and duties hereunder or (ii) resulting from a breach of the Servicer’s obligations and duties under this Agreement and the Mortgage Loans (for which the Servicer shall indemnify pursuant to Section 8.05(b)). Notwithstanding anything herein to the contrary, the Trustee shall be reimbursed from the Trust Fund for all Servicing Transfer Costs not paid by the Servicer pursuant to Section 7.02(a) and any expenses related to “high cost home loans” without regard to any annual limitations. This section shall survive termination of this Agreement or the resignation or removal of any Trustee hereunder.

Appears in 7 contracts

Samples: Pooling and Servicing Agreement (Option One Mortgage Loan Trust 2007-2), Pooling and Servicing Agreement (Option One Mortgage Loan Trust 2007-Fxd2), Pooling and Servicing Agreement (Option One Mortgage Loan Trust 2007-Fxd1)

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Trustee Fee and Expenses. (a) The Trustee shall withdraw from the Distribution Account on each Distribution Date and pay to itself the Trustee FeeFee prior to making any distributions to Certificateholders. The Trustee Trustee, or any director, officer, employee or agent of the Trustee, shall be reimbursed from the Trust Fund for all reasonable expensesindemnified by REMIC 1 and held harmless against any loss, liability or expense (not including expenses and disbursements and advances incurred or made by the Trustee in accordance with any of the provisions of this Agreement (not including expensesTrustee, disbursements and advances incurred or made by the Trustee including the compensation and the expenses and disbursements of its agents and counsel, in the ordinary course of the Trustee’s 's performance in accordance with the provisions of this Agreement) up to a limit of $25,000 per calendar year except any such expense, disbursement or advance as may arise from its negligence or bad faith or which is the responsibility of Certificateholders or incurred by the Trustee hereunder. In addition, the Trustee and its officers, directors, employees and agents shall be entitled to be indemnified for, and held harmless by the Trust Fund against, any and all losses, liabilities, damages, claims arising out of or expenses incurred in connection with any legal action relating to the acceptance or administration of its obligations and duties under this Agreement or the Certificates up to a limit of $600,000 per calendar yearAgreement, other than any loss, liability or expense (i) resulting from a breach of the Servicer's obligations and duties under this Agreement for which the Trustee is indemnified under Section 8.05(b) or (ii) any loss, liability or expense incurred by reason of willful misfeasance, bad faith or negligence of the Trustee in the performance of its duties hereunder or by reason of the Trustee’s 's reckless disregard of obligations and duties hereunder or (ii) resulting from as a result of a breach of the Servicer’s Trustee's obligations and duties under Article X hereof. Any amounts payable to the Trustee, or any director, officer, employee or agent of the Trustee, in respect of the indemnification provided by this Agreement and the Mortgage Loans (for which the Servicer shall indemnify Section 8.05(a), or pursuant to Section 8.05(b)). Notwithstanding anything herein to the contrary, the Trustee shall be reimbursed any other right of reimbursement from the Trust Fund for all Servicing Transfer Costs not paid that the Trustee, or any director, officer, employee or agent of the Trustee, may have hereunder in its capacity as such, may be withdrawn by the Servicer pursuant to Section 7.02(a) and Trustee from the Distribution Account at any expenses related to “high cost home loans” without regard to any annual limitationstime. This section The foregoing indemnity shall survive termination of this Agreement or the resignation or removal of any Trustee hereunderthe Trustee.

Appears in 6 contracts

Samples: Pooling and Servicing Agreement (Financial Asset Sec Corp Asset-Backed Certs Series 2004-1), Pooling and Servicing Agreement (Financial Asset Sec Corp Asset Backed Certs Series 2002-1), Pooling and Servicing Agreement (Meritage Mortgage Loan Trust 2005-1 Asset-Backed Certificates, Series 2005-1)

Trustee Fee and Expenses. (a) The Trustee shall withdraw from the Distribution Account on each Distribution Date and pay to itself the Trustee FeeFee prior to making any distributions to Certificateholders. The Trustee Trustee, or any director, officer, employee or agent of the Trustee, shall be reimbursed from indemnified by the Trust Fund for all reasonable expensesand held harmless against any loss, liability or expense (not including expenses and disbursements and advances incurred or made by the Trustee in accordance with any of the provisions of this Agreement (not including expensesTrustee, disbursements and advances incurred or made by the Trustee including the compensation and the expenses and disbursements of its agents and counsel, in the ordinary course of the Trustee’s 's performance in accordance with the provisions of this Agreement) up to a limit of $25,000 per calendar year except any such expense, disbursement or advance as may arise from its negligence or bad faith or which is the responsibility of Certificateholders or incurred by the Trustee hereunder. In addition, the Trustee and its officers, directors, employees and agents shall be entitled to be indemnified for, and held harmless by the Trust Fund against, any and all losses, liabilities, damages, claims arising out of or expenses incurred in connection with any legal action relating to the acceptance or administration of its obligations and duties under this Agreement or the Certificates up to a limit of $600,000 per calendar yearAgreement, other than any loss, liability or expense (i) resulting from a breach of the Servicer's obligations and duties under this Agreement for which the Trustee is indemnified under Section 8.05(b) or (ii) any loss, liability or expense incurred by reason of willful misfeasance, bad faith or negligence of the Trustee in the performance of its duties hereunder or by reason of the Trustee’s 's reckless disregard of obligations and duties hereunder or (ii) resulting from as a result of a breach of the Servicer’s Trustee's obligations and duties under Article X hereof. Any amounts payable to the Trustee, or any director, officer, employee or agent of the Trustee, in respect of the indemnification provided by this Agreement and the Mortgage Loans (for which the Servicer shall indemnify Section 8.05(a), or pursuant to Section 8.05(b)). Notwithstanding anything herein to the contrary, the Trustee shall be reimbursed any other right of reimbursement from the Trust Fund for all Servicing Transfer Costs not paid that the Trustee, or any director, officer, employee or agent of the Trustee, may have hereunder in its capacity as such, may be withdrawn by the Servicer pursuant to Section 7.02(a) and Trustee from the Distribution Account at any expenses related to “high cost home loans” without regard to any annual limitationstime. This section The foregoing indemnity shall survive termination of this Agreement or the resignation or removal of any Trustee hereunderthe Trustee.

Appears in 5 contracts

Samples: Pooling and Servicing Agreement (Fremont Home Loan Trust 2005-1), Pooling and Servicing Agreement (Fremont Home Loan Trust 2004-2), Pooling and Servicing Agreement (Fremont Home Loan Trust 2004-4)

Trustee Fee and Expenses. (a) The Trustee shall withdraw from the Distribution Account on each Distribution Date and pay to itself the Trustee Fee. The Trustee shall be reimbursed from the Trust Fund for all reasonable expenses, disbursements and advances incurred or made by the Trustee in accordance with any of the provisions of this Agreement (not including expenses, disbursements and advances incurred or made by the Trustee including the compensation and the expenses and disbursements of its agents and counsel, in the ordinary course of the Trustee’s 's performance in accordance with the provisions of this Agreement) up to a limit of $25,000 per calendar year except any such expense, disbursement or advance as may arise from its negligence or bad faith or which is the responsibility of Certificateholders or the Trustee hereunder. In addition, the Trustee and its officers, directors, employees and agents shall be entitled to be indemnified for, and held harmless by the Trust Fund against, any and all losses, liabilities, damages, claims or expenses incurred in connection with any legal action relating to this Agreement or the Certificates up to a limit of $600,000 per calendar year, other than (i) any loss, liability or expense incurred by reason of willful misfeasance, bad faith or negligence of the Trustee in the performance of its duties hereunder or by reason of the Trustee’s 's reckless disregard of obligations and duties hereunder or (ii) resulting from a breach of the Master Servicer’s 's obligations and duties under this Agreement and the Mortgage Loans (for which the Master Servicer shall indemnify pursuant to Section 8.05(b)). Notwithstanding anything herein to the contrary, the Trustee shall be reimbursed from the Trust Fund for all Servicing Transfer Costs not paid by the Servicer pursuant to Section 7.02(a) and any expenses related to “high cost home loans” without regard to any annual limitations. This section shall survive termination of this Agreement or the resignation or removal of any Trustee hereunder.

Appears in 4 contracts

Samples: Pooling and Servicing Agreement (Option One Mortgage Accep Corp Asset Back Certs Ser 2003 5), Pooling and Servicing Agreement (Option One Mortgage Acceptance Loan Trust 2004-2), Pooling and Servicing Agreement (Option One Mortgage Loan Trust 2004-3)

Trustee Fee and Expenses. (a) The Trustee shall withdraw from the Distribution Account on each Distribution Date and pay to itself the Trustee Fee. The Trustee shall be reimbursed from the Trust Fund for all reasonable expenses, disbursements and advances incurred or made by the Trustee in accordance with any of the provisions of this Agreement (not including expenses, disbursements and advances incurred or made by the Trustee including the compensation and the expenses and disbursements of its agents and counsel, in the ordinary course of the Trustee’s 's performance in accordance with the provisions of this Agreement) up to a limit of $25,000 per calendar year except any such expense, disbursement or advance as may arise from its negligence or bad faith or which is the responsibility of Certificateholders or the Trustee hereunder. In addition, the Trustee and its officers, directors, employees and agents shall be entitled to be indemnified for, and held harmless by the Trust Fund against, any and all losses, liabilities, damages, claims or expenses incurred in connection with any legal action relating to this Agreement or the Certificates up to a limit of $600,000 per calendar year, other than (i) any loss, liability or expense incurred by reason of willful misfeasance, bad faith or negligence of the Trustee in the performance of its duties hereunder or by reason of the Trustee’s 's reckless disregard of obligations and duties hereunder or (ii) resulting from a breach of the Master Servicer’s 's obligations and duties under this Agreement and the Mortgage Loans (for which the Master Servicer shall indemnify pursuant to Section 8.05(b)). Notwithstanding anything herein to the contrary, the Trustee shall be reimbursed from the Trust Fund for all Servicing Transfer Costs not paid by the Master Servicer pursuant to Section 7.02(a) and any expenses related to “high cost home loans” without regard to any annual limitations. This section shall survive termination of this Agreement or the resignation or removal of any Trustee hereunder.

Appears in 4 contracts

Samples: Pooling and Servicing Agreement (Option One Mortgage Loan Trust Series 2006-2), Pooling and Servicing Agreement (Option One Mortgage Loan Trust 2005-5, Asset-Backed Certificates, Series 2005-5), Pooling and Servicing Agreement (Option One Mortgage Loan Trust 2006-1 Asset-Backed Certificates, Series 2006-1)

Trustee Fee and Expenses. (a) The Trustee shall withdraw from the Distribution Account on each Distribution Date and pay to itself the Trustee FeeFee and, to the extent that the funds therein are at anytime insufficient for such purpose, the Master Servicer shall pay such fees. The Master Servicer (or the Depositor, if the Trustee shall be reimbursed from becomes the Trust Fund Master Servicer) will pay or reimburse the Trustee upon its request for all reasonable expenses, disbursements and advances incurred or made by the Trustee in accordance with any of the provisions of this Agreement (not including expenses, disbursements and advances incurred or made by the Trustee including the reasonable compensation and the expenses and disbursements of its agents counsel and counsel, of all persons not regularly in its employ and any amounts paid by the ordinary course Trustee for the recording of the Trustee’s performance in accordance with the provisions Assignments of this AgreementMortgage pursuant to Section 2.01) up to a limit of $25,000 per calendar year except any such expense, disbursement or advance as may arise from its negligence or bad faith or which is the responsibility of Certificateholders or the Trustee hereunder. In addition, the Master Servicer (or the Depositor, if the Trustee becomes the Master Servicer) covenants and agrees to indemnify the Trustee and its officers, directors, employees and agents shall be entitled to be indemnified forfrom, and held hold it harmless by the Trust Fund against, any and all losses, liabilities, damages, claims or expenses incurred in connection with any legal action relating to this Agreement or the Certificates up to a limit of $600,000 per calendar yearCertificates, other than (i) any loss, liability or expense incurred by reason of willful misfeasance, bad faith or negligence of the Trustee in the performance of its duties hereunder or by reason of the Trustee’s 's reckless disregard of obligations and duties hereunder or (ii) resulting from a breach of the Servicer’s obligations and duties under this Agreement and the Mortgage Loans (for which the Servicer shall indemnify pursuant to Section 8.05(b)). Notwithstanding anything herein to the contrary, the Trustee shall be reimbursed from the Trust Fund for all Servicing Transfer Costs not paid by the Servicer pursuant to Section 7.02(a) and any expenses related to “high cost home loans” without regard to any annual limitationshereunder. This section shall survive termination of this Agreement or the resignation or removal of any Trustee hereunder. If the Master Servicer (or the Depositor, if the Trustee becomes the Master Servicer) defaults in its obligations to pay or reimburse the Trustee any amount as required under this Section 8.05, the Trustee shall be entitled to be paid or reimbursed such amount at any time from the assets of the Trust Fund consisting of any amounts on deposit at such time in the Collection Account or the Distribution Account.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (Option One Mortgage Accept Corp Asset Backed Cer Ser 2002-4), Pooling and Servicing Agreement (Option One Mortgage Loan Tr 2002-1 as-BCKD Cert Ser 2002-1), Pooling and Servicing Agreement (Option One Mortgage Accept Corp Asset-Backed Cert Se 2002-6)

Trustee Fee and Expenses. (a) The Trustee shall withdraw from the Distribution Account on each Distribution Date and pay to itself the Trustee FeeFee and, to the extent that the funds therein are at anytime insufficient for such purpose, the Master Servicer shall pay such fees. The Master Servicer (or the Depositor, if the Trustee shall be reimbursed from becomes the Trust Fund Master Servicer) will pay or reimburse the Trustee upon its request for all reasonable expenses, disbursements and advances incurred or made by the Trustee in accordance with any of the provisions of this Agreement (not including expenses, disbursements and advances incurred or made by the Trustee including the reasonable compensation and the expenses and disbursements of its agents counsel and counsel, of all persons not regularly in its employ and any amounts paid by the ordinary course Trustee for the recording of the Trustee’s performance in accordance with the provisions Assignments of this AgreementMortgage pursuant to Section 2.01) up to a limit of $25,000 per calendar year except any such expense, disbursement or advance as may arise from its negligence or bad faith or which is the responsibility of Certificateholders or the Trustee hereunder. In addition, the Master Servicer (or the Depositor, if the Trustee becomes the Master Servicer) covenants and agrees to indemnify the Trustee and its officers, directors, employees and agents shall be entitled to be indemnified forfrom, and held hold it harmless by the Trust Fund against, any and all losses, liabilities, damages, claims or expenses incurred in connection with any 118 legal action relating to this Agreement or the Certificates up to a limit of $600,000 per calendar yearCertificates, other than (i) any loss, liability or expense incurred by reason of willful misfeasance, bad faith or negligence of the Trustee in the performance of its duties hereunder or by reason of the Trustee’s 's reckless disregard of obligations and duties hereunder or (ii) resulting from a breach of the Servicer’s obligations and duties under this Agreement and the Mortgage Loans (for which the Servicer shall indemnify pursuant to Section 8.05(b)). Notwithstanding anything herein to the contrary, the Trustee shall be reimbursed from the Trust Fund for all Servicing Transfer Costs not paid by the Servicer pursuant to Section 7.02(a) and any expenses related to “high cost home loans” without regard to any annual limitationshereunder. This section shall survive termination of this Agreement or the resignation or removal of any Trustee hereunder. If the Master Servicer (or the Depositor, if the Trustee becomes the Master Servicer) defaults in its obligations to pay or reimburse the Trustee any amount as required under this Section 8.05, the Trustee shall be entitled to be paid or reimbursed such amount at any time from the assets of the Trust Fund consisting of any amounts on deposit at such time in the Collection Account or the Distribution Account.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Option One Mort Accept Corp Asset Backed Cert Series 2000-3), Pooling and Servicing Agreement (Option One Mort Accept Corp Asset Backed Cert Series 2000-3)

Trustee Fee and Expenses. (a) The Trustee shall withdraw from the Distribution Account on each Distribution Date and pay to itself the Trustee Fee. The Trustee shall be reimbursed from the Trust Fund for all reasonable expenses, disbursements and advances incurred or made by the Trustee in accordance with any of the provisions of this Agreement (not including expenses, disbursements and advances incurred or made by the Trustee including the compensation and the expenses and disbursements of its agents and counsel, in the ordinary course of the Trustee’s 's performance in accordance with the provisions of this Agreement) up to a limit of $25,000 per calendar year except any such expense, disbursement or advance as may arise from its negligence or bad faith or which is the responsibility of Certificateholders or the Trustee hereunder. In addition, the Trustee and its officers, directors, employees and agents shall be entitled to be indemnified for, and held harmless by the Trust Fund against, any and all losses, liabilities, damages, claims or expenses incurred in connection with any legal action relating to this Agreement or the Certificates up to a limit of $600,000 per calendar year, other than (i) any loss, liability or expense incurred by reason of willful misfeasance, bad faith or negligence of the Trustee in the performance of its duties hereunder or by reason of the Trustee’s 's reckless disregard of obligations and duties hereunder or (ii) resulting from a breach of the Master Servicer’s 's obligations and duties under this Agreement and the Mortgage Loans (for which the Master Servicer shall indemnify pursuant to Section 8.05(b)). Notwithstanding anything herein to the contrary, the Trustee shall be reimbursed from the Trust Fund for all Servicing Transfer Costs not paid by the Servicer pursuant to Section 7.02(a) and any expenses related to “high cost home loans” without regard to any annual limitations. This section shall survive termination of this Agreement or the resignation or removal of any Trustee hereunder.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Option One Mortgage Loan Trust 2005-2), Pooling and Servicing Agreement (Option One Mortgage Loan Trust 2005-1)

Trustee Fee and Expenses. (a) The Trustee shall withdraw from the Distribution Account on each Distribution Date and pay to itself the Trustee Fee. The Trustee shall be reimbursed from the Trust Fund for all reasonable expenses, disbursements and advances incurred or made by the Trustee in accordance with any of the provisions of this Agreement (not including expenses, disbursements and advances incurred or made by the Trustee including the compensation and the expenses and disbursements of its agents and counsel, in the ordinary course of the Trustee’s 's performance in accordance with the provisions of this Agreement) up to a limit of $25,000 per calendar year except any such expense, disbursement or advance as may arise from its negligence or bad faith or which is the responsibility of Certificateholders or the Trustee hereunder. In addition, the Trustee and its officers, directors, employees and agents shall be entitled to be indemnified for, and held harmless by the Trust Fund against, any and all losses, liabilities, damages, claims or expenses incurred in connection with any legal action relating to this Agreement or the Certificates up to a limit of $600,000 per calendar year, other than (i) any loss, liability or expense incurred by reason of willful misfeasance, bad faith or negligence of the Trustee in the performance of its duties hereunder or by reason of the Trustee’s 's reckless disregard of obligations and duties hereunder or (ii) resulting from a breach of the Servicer’s 's obligations and duties under this Agreement and the Mortgage Loans (for which the Servicer shall indemnify pursuant to Section 8.05(b)). Notwithstanding anything herein to the contrary, the Trustee shall be reimbursed from the Trust Fund for all Servicing Transfer Costs not paid by the Servicer pursuant to Section 7.02(a) and any expenses related to “high cost home loans” without regard to any annual limitations. This section shall survive termination of this Agreement or the resignation or removal of any Trustee hereunder.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Option One Mortgage Loan Trust 2006-3), Pooling and Servicing Agreement (Option One Mortgage Loan Trust 2006-3)

Trustee Fee and Expenses. (a) The Trustee shall withdraw from the Distribution Account on each Distribution Date and pay to itself the Trustee FeeFee and, to the extent that the funds therein are at anytime insufficient for such purpose, the Master Servicer shall pay such fees. The Master Servicer (or the Depositor, if the Trustee shall be reimbursed from becomes the Trust Fund Master Servicer) will pay or reimburse the Trustee upon its request for all reasonable expenses, disbursements and advances incurred or made by the Trustee in accordance with any of the provisions of this Agreement (not including expenses, disbursements and advances incurred or made by the Trustee including the reasonable compensation and the expenses and disbursements of its agents counsel and counsel, of all persons not regularly in its employ and any amounts paid by the ordinary course Trustee for the recording of the Trustee’s performance in accordance with the provisions Assignments of this AgreementMortgage pursuant to Section 2.01) up to a limit of $25,000 per calendar year except any such expense, disbursement or advance as may arise from its negligence or bad faith or which is the responsibility of Certificateholders or the Trustee hereunder. In addition, the Master Servicer (or the Depositor, if the Trustee becomes the Master Servicer) covenants and agrees to 118 indemnify the Trustee and its officers, directors, employees and agents shall be entitled to be indemnified forfrom, and held hold it harmless by the Trust Fund against, any and all losses, liabilities, damages, claims or expenses incurred in connection with any legal action relating to this Agreement or the Certificates up to a limit of $600,000 per calendar yearCertificates, other than (i) any loss, liability or expense incurred by reason of willful misfeasance, bad faith or negligence of the Trustee in the performance of its duties hereunder or by reason of the Trustee’s 's reckless disregard of obligations and duties hereunder or (ii) resulting from a breach of the Servicer’s obligations and duties under this Agreement and the Mortgage Loans (for which the Servicer shall indemnify pursuant to Section 8.05(b)). Notwithstanding anything herein to the contrary, the Trustee shall be reimbursed from the Trust Fund for all Servicing Transfer Costs not paid by the Servicer pursuant to Section 7.02(a) and any expenses related to “high cost home loans” without regard to any annual limitationshereunder. This section shall survive termination of this Agreement or the resignation or removal of any Trustee hereunder. If the Master Servicer (or the Depositor, if the Trustee becomes the Master Servicer) defaults in its obligations to pay or reimburse the Trustee any amount as required under this Section 8.05, the Trustee shall be entitled to be paid or reimbursed such amount at any time from the assets of the Trust Fund consisting of any amounts on deposit at such time in the Collection Account or the Distribution Account.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Asset Backed Certificates Series 2001-2), Pooling and Servicing Agreement (Option One Mort Ln Trust Asset Back Certs Ser 2001-3)

Trustee Fee and Expenses. (a) The Trustee shall be entitled to withdraw from the Distribution Account on each Distribution Date and pay to itself the Trustee Fee. The Trustee shall be reimbursed from entitled to the Trust Fund Trustee's Fee (which shall not be limited by any provision of law in regard to the compensation of a trustee of an express trust) for all reasonable expensesservices rendered by the Trustee in the execution of the trusts hereby created and in the exercise and performance of any of the powers and duties hereunder of the Trustee. The Trustee, or any director, officer, employee or agent of the Trustee, shall be indemnified by the Master Servicer (unless the Trustee is the Master Servicer) and held harmless against any loss, liability or expense (not including expenses and disbursements and advances incurred or made by the Trustee in accordance with any of the provisions of this Agreement (not including expensesTrustee, disbursements and advances incurred or made by the Trustee including the compensation and the expenses and disbursements of its agents and counsel, in the ordinary course of the Trustee’s performance in accordance with the provisions administration of this Agreement) up to a limit of $25,000 per calendar year except any such expense, disbursement or advance as may arise from its negligence or bad faith or which is the responsibility of Certificateholders or incurred by the Trustee hereunder. In addition, the Trustee and its officers, directors, employees and agents shall be entitled to be indemnified for, and held harmless by the Trust Fund against, any and all losses, liabilities, damages, claims arising out of or expenses incurred in connection with the acceptance or administration of its obligations and duties under this Agreement, other than any legal action relating to loss, liability or expense (i) that constitutes a specific liability of the Trustee under Article IX of this Agreement or the Certificates up to a limit of $600,000 per calendar year, other than (iii) any loss, liability or expense incurred by reason of willful misfeasance, bad faith or negligence of the Trustee in the performance of its duties hereunder or by reason of the Trustee’s 's reckless disregard of obligations and duties hereunder hereunder. Any amount payable by the Master Servicer pursuant to this paragraph shall be from the Master Servicer's own funds, without right of reimbursement from the Trust Fund therefor. If the Master Servicer defaults in its obligations to pay or (ii) resulting from a breach of reimburse the Servicer’s obligations and duties Trustee any amount as required under this Agreement and Section 8.05, or if the Mortgage Loans (for which Trustee is the Servicer shall indemnify pursuant to Section 8.05(b)). Notwithstanding anything herein to the contraryMaster Servicer, then the Trustee shall be entitled to be paid or reimbursed any such amount at any time from the assets of the Trust Fund for all Servicing Transfer Costs not paid by consisting of any amounts on deposit at such time in the Servicer pursuant to Section 7.02(a) and any expenses related to “high cost home loans” without regard to any annual limitations. This section shall survive termination of this Agreement Collection Account or the resignation or removal of any Trustee hereunderDistribution Account.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Financial Asset Sec Corp New South Home Equity Trust 2001-1)

Trustee Fee and Expenses. (a) The Trustee shall withdraw from the Distribution Account on each Distribution Date and pay to itself the Trustee FeeFee and any Trustee Reimbursable Expenses. The Trustee Trustee, and any director, officer, employee or agent of the Trustee, shall be reimbursed from the Trust Fund for all reasonable expensesindemnified by REMIC 1 and held harmless against any loss, disbursements and advances liability or “unanticipated out-of-pocket” expense incurred or made paid to third parties (which expenses shall not include salaries paid to employees, or allocable overhead, of the Trustee) incurred by the Trustee in accordance with any arising out of the provisions of this Agreement (not including expenses, disbursements and advances incurred or made by the Trustee including the compensation and the expenses and disbursements of its agents and counsel, in the ordinary course of the Trustee’s performance in accordance with the provisions of this Agreement) up to a limit of $25,000 per calendar year except any such expense, disbursement or advance as may arise from its negligence or bad faith or which is the responsibility of Certificateholders or the Trustee hereunder. In addition, the Trustee and its officers, directors, employees and agents shall be entitled to be indemnified for, and held harmless by the Trust Fund against, any and all losses, liabilities, damages, claims or expenses incurred in connection with the acceptance or administration of its obligations and duties under this Agreement, other than any legal action relating to loss, liability or expense (i) resulting from a Servicer’s actions or omissions in connection with this Agreement and the Mortgage Loans for which the Trustee is indemnified under Section 8.05(b), (ii) that constitutes a specific liability of the Trustee under this Agreement or the Certificates up to a limit of $600,000 per calendar year, other than (iiii) any loss, liability or expense incurred by reason of willful misfeasance, bad faith or negligence of the Trustee in the performance of its duties hereunder or by reason of the Trustee’s reckless disregard of its obligations and duties hereunder hereunder. Any amounts payable to the Trustee, or (ii) resulting from a breach any director, officer, employee or agent of the Servicer’s obligations and duties under Trustee, in respect of the indemnification provided by this Agreement and the Mortgage Loans (for which the Servicer shall indemnify Section 8.05(a), or pursuant to Section 8.05(b)). Notwithstanding anything herein to the contrary, the Trustee shall be reimbursed any other right of reimbursement from the Trust Fund for all Servicing Transfer Costs not paid that the Trustee, and any director, officer, employee or agent of the Trustee, may have hereunder in its capacity as such, may be withdrawn by the Servicer pursuant to Section 7.02(a) and Trustee from the Distribution Account at any expenses related to “high cost home loans” without regard to any annual limitations. This section shall survive termination of this Agreement or the resignation or removal of any Trustee hereundertime.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Soundview Home Loan Trust 2005-Ctx1)

Trustee Fee and Expenses. (a) The Trustee shall withdraw from the Distribution Account on each Distribution Date and pay to itself the Trustee FeeFee and, to the extent that the funds therein are at anytime insufficient for such purpose, the Seller shall pay such fees. The Seller will pay or reimburse the Trustee shall be reimbursed from the Trust Fund upon its request for all reasonable expenses, disbursements and advances incurred or made by the Trustee in accordance with any of the provisions of this Agreement (not including expenses, disbursements and advances incurred or made by the Trustee including the reasonable compensation and the expenses and disbursements of its agents counsel and counsel, of all persons not regularly in its employ and any amounts paid by the ordinary course Trustee for the recording of the Trustee’s performance in accordance with the provisions Assignments of this AgreementMortgage pursuant to Section 2.01) up to a limit of $25,000 per calendar year except any such expense, disbursement or advance as may arise from its negligence or bad faith or which is the responsibility of Certificateholders or the Trustee hereunder. In addition, the Seller covenants and agrees to indemnify the Trustee and its officers, directors, employees and agents shall be entitled to be indemnified forfrom, and held hold it harmless by the Trust Fund against, any and all losses, liabilities, damages, claims or expenses incurred in connection with any legal action relating to this Agreement or the Certificates up to a limit of $600,000 per calendar yearCertificates, other than (i) any loss, liability or expense incurred by reason of willful misfeasance, bad faith or negligence of the Trustee 124 in the performance of its duties hereunder or by reason of the Trustee’s 's reckless disregard of obligations and duties hereunder or (ii) resulting from a breach of the Servicer’s obligations and duties under this Agreement and the Mortgage Loans (for which the Servicer shall indemnify pursuant to Section 8.05(b)). Notwithstanding anything herein to the contrary, the Trustee shall be reimbursed from the Trust Fund for all Servicing Transfer Costs not paid by the Servicer pursuant to Section 7.02(a) and any expenses related to “high cost home loans” without regard to any annual limitationshereunder. This section shall survive termination of this Agreement or the resignation or removal of any Trustee hereunder. If the Seller defaults in its obligations to pay or reimburse the Trustee any amount as required under this Section 8.05, the Trustee shall be entitled to be paid or reimbursed such amount at any time from the assets of the Trust Fund consisting of any amounts on deposit at such time in the Collection Account or the Distribution Account.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Option One Mort Accep Corp Asset Backed Cert Ser 2000-1)

Trustee Fee and Expenses. (a) The Trustee shall withdraw from the Distribution Account on each Distribution Date and pay to itself the Trustee FeeFee and, to the extent that the funds therein are at anytime insufficient for such purpose, the Master Servicer shall pay such fees. The Master Servicer (or the Depositor, if the Trustee shall be reimbursed from becomes the Trust Fund Master Servicer) will pay or reimburse the Trustee upon its request for all reasonable expenses, disbursements and advances incurred or made by the Trustee in accordance with any of the provisions of this Agreement (not including expenses, disbursements and advances incurred or made by the Trustee including the reasonable compensation and the expenses and disbursements of its agents counsel and counsel, of all persons not regularly in its employ and any amounts paid by the ordinary course Trustee for the recording of the Trustee’s performance in accordance with the provisions Assignments of this AgreementMortgage pursuant to Section 2.01) up to a limit of $25,000 per calendar year except any such expense, disbursement or advance as may arise from its negligence or bad faith or which is the responsibility of Certificateholders or the Trustee hereunder. In addition, the Master 123 Servicer (or the Depositor, if the Trustee becomes the Master Servicer) covenants and agrees to indemnify the Trustee and its officers, directors, employees and agents shall be entitled to be indemnified forfrom, and held hold it harmless by the Trust Fund against, any and all losses, liabilities, damages, claims or expenses incurred in connection with any legal action relating to this Agreement or the Certificates up to a limit of $600,000 per calendar yearCertificates, other than (i) any loss, liability or expense incurred by reason of willful misfeasance, bad faith or negligence of the Trustee in the performance of its duties hereunder or by reason of the Trustee’s 's reckless disregard of obligations and duties hereunder or (ii) resulting from a breach of the Servicer’s obligations and duties under this Agreement and the Mortgage Loans (for which the Servicer shall indemnify pursuant to Section 8.05(b)). Notwithstanding anything herein to the contrary, the Trustee shall be reimbursed from the Trust Fund for all Servicing Transfer Costs not paid by the Servicer pursuant to Section 7.02(a) and any expenses related to “high cost home loans” without regard to any annual limitationshereunder. This section shall survive termination of this Agreement or the resignation or removal of any Trustee hereunder. If the Master Servicer (or the Depositor, if the Trustee becomes the Master Servicer) defaults in its obligations to pay or reimburse the Trustee any amount as required under this Section 8.05, the Trustee shall be entitled to be paid or reimbursed such amount at any time from the assets of the Trust Fund consisting of any amounts on deposit at such time in the Collection Account or the Distribution Account.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Option One Mort Acc Corp Asset Backed Cert Ser 2001-4)

Trustee Fee and Expenses. (a) The Trustee shall withdraw from the Distribution Account on each Distribution Date and pay to itself the Trustee FeeFee and, to the extent that the funds therein are at anytime insufficient for such purpose, the Master Servicer shall pay such fees. The Master Servicer (or the Depositor, if the Trustee shall be reimbursed from becomes the Trust Fund Master Servicer) will pay or reimburse the Trustee upon its request for all reasonable expenses, disbursements and advances incurred or made by the Trustee in accordance with any of the provisions of this Agreement (not including expenses, disbursements and advances incurred or made by the Trustee including the reasonable compensation and the expenses and disbursements of its agents counsel and counsel, of all persons not regularly in its employ and any amounts paid by the ordinary course Trustee for the recording of the Trustee’s performance in accordance with the provisions Assignments of this AgreementMortgage pursuant to Section 2.01) up to a limit of $25,000 per calendar year except any such expense, disbursement or advance as may arise from its negligence or bad faith or which is the responsibility of Certificateholders or the Trustee hereunder. In addition, the Master Servicer (or the Depositor, if the Trustee becomes the Master Servicer) covenants and agrees to 116 indemnify the Trustee and its officers, directors, employees and agents shall be entitled to be indemnified forfrom, and held hold it harmless by the Trust Fund against, any and all losses, liabilities, damages, claims or expenses incurred in connection with any legal action relating to this Agreement or the Certificates up to a limit of $600,000 per calendar yearCertificates, other than (i) any loss, liability or expense incurred by reason of willful misfeasance, bad faith or negligence of the Trustee in the performance of its duties hereunder or by reason of the Trustee’s 's reckless disregard of obligations and duties hereunder or (ii) resulting from a breach of the Servicer’s obligations and duties under this Agreement and the Mortgage Loans (for which the Servicer shall indemnify pursuant to Section 8.05(b)). Notwithstanding anything herein to the contrary, the Trustee shall be reimbursed from the Trust Fund for all Servicing Transfer Costs not paid by the Servicer pursuant to Section 7.02(a) and any expenses related to “high cost home loans” without regard to any annual limitationshereunder. This section shall survive termination of this Agreement or the resignation or removal of any Trustee hereunder. If the Master Servicer (or the Depositor, if the Trustee becomes the Master Servicer) defaults in its obligations to pay or reimburse the Trustee any amount as required under this Section 8.05, the Trustee shall be entitled to be paid or reimbursed such amount at any time from the assets of the Trust Fund consisting of any amounts on deposit at such time in the Collection Account or the Distribution Account.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Option One Mort Accep Corp Asset Backed Cert Ser 2001-1)

Trustee Fee and Expenses. (a) The Trustee shall withdraw from the Distribution Account on each Distribution Date and pay to itself the Trustee FeeFee and, to the extent that the funds therein are at anytime insufficient for such purpose, the Seller shall pay such fees. The Seller will pay or reimburse the Trustee shall be reimbursed from the Trust Fund upon its request for all reasonable expenses, disbursements and advances incurred or made by the Trustee in accordance with any of the provisions of this Agreement (not including expenses, disbursements and advances incurred or made by the Trustee including the reasonable compensation and the expenses and disbursements of its agents counsel and counsel, of all persons not regularly in its employ and any amounts paid by the ordinary course Trustee for the recording of the Trustee’s performance in accordance with the provisions Assignments of this AgreementMortgage pursuant to Section 2.01) up to a limit of $25,000 per calendar year except any such expense, disbursement or advance as may arise from its negligence or bad faith or which is the responsibility of Certificateholders or the Trustee hereunder. In addition, the Seller covenants and agrees to indemnify the Trustee and its officers, directors, employees and agents shall be entitled to be indemnified forfrom, and held hold it harmless by the Trust Fund against, any and all losses, liabilities, damages, claims or expenses incurred in connection with any legal action relating to this Agreement or the Certificates up to a limit of $600,000 per calendar yearCertificates, other than (i) any loss, liability or expense incurred by reason of willful misfeasance, bad faith or negligence of the Trustee 122 in the performance of its duties hereunder or by reason of the Trustee’s 's reckless disregard of obligations and duties hereunder or (ii) resulting from a breach of the Servicer’s obligations and duties under this Agreement and the Mortgage Loans (for which the Servicer shall indemnify pursuant to Section 8.05(b)). Notwithstanding anything herein to the contrary, the Trustee shall be reimbursed from the Trust Fund for all Servicing Transfer Costs not paid by the Servicer pursuant to Section 7.02(a) and any expenses related to “high cost home loans” without regard to any annual limitationshereunder. This section shall survive termination of this Agreement or the resignation or removal of any Trustee hereunder. If the Seller defaults in its obligations to pay or reimburse the Trustee any amount as required under this Section 8.05, the Trustee shall be entitled to be paid or reimbursed such amount at any time from the assets of the Trust Fund consisting of any amounts on deposit at such time in the Collection Account or the Distribution Account.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Option One Mort Accept Corp Asset Backed Cert Ser 2000-2)

Trustee Fee and Expenses. (a) The Trustee shall withdraw from the Distribution Account on each Distribution Date and pay to itself the Trustee Fee. The Trustee shall be reimbursed from the Trust Fund for all reasonable expenses, disbursements and advances incurred or made by the Trustee in accordance with any of the provisions of this Agreement (not including expenses, disbursements and advances incurred or made by the Trustee including the compensation and the expenses and disbursements of its agents and counsel, in the ordinary course of the Trustee’s 's performance in accordance with the provisions of this Agreement) up to a limit of [$25,000 ________________] per calendar year except any such expense, disbursement or advance as may arise from its negligence or bad faith or which is the responsibility of Certificateholders or the Trustee hereunder. In addition, the Trustee and its officers, directors, employees and agents shall be entitled to be indemnified for, and held harmless by the Trust Fund against, any and all losses, liabilities, damages, claims or expenses incurred in connection with any legal action relating to this Agreement or the Certificates up to a limit of [$600,000 ________________] per calendar year, other than (i) any loss, liability or expense incurred by reason of willful misfeasance, bad faith or negligence of the Trustee in the performance of its duties hereunder or by reason of the Trustee’s 's reckless disregard of obligations and duties hereunder or (ii) resulting from a breach of the Master Servicer’s 's obligations and duties under this Agreement and the Mortgage Loans (for which the Master Servicer shall indemnify pursuant to Section 8.05(b)). Notwithstanding anything herein to the contrary, the Trustee shall be reimbursed from the Trust Fund for all Servicing Transfer Costs not paid by the Master Servicer pursuant to Section 7.02(a) and any expenses related to "high cost home loans" without regard to any annual limitations. This section shall survive termination of this Agreement or the resignation or removal of any Trustee hereunder.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Option One Mortgage Acceptance Corp)

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Trustee Fee and Expenses. (a) The Trustee shall withdraw from the Distribution Account on each Distribution Date and pay to itself the Trustee Fee. The Trustee shall be reimbursed from the Trust Fund for all reasonable expenses, disbursements and advances incurred or made by the Trustee in accordance with any of the provisions of this Agreement (not including expenses, disbursements and advances incurred or made by the Trustee including the compensation and the expenses and disbursements of its agents and counsel, in the ordinary course of the Trustee’s 's performance in accordance with the provisions of this Agreement) up to a limit of $25,000 per calendar year except 136 any such expense, disbursement or advance as may arise from its negligence or bad faith or which is the responsibility of Certificateholders or the Trustee hereunder. In addition, the Trustee and its officers, directors, employees and agents shall be entitled to be indemnified for, and held harmless by the Trust Fund against, any and all losses, liabilities, damages, claims or expenses incurred in connection with any legal action relating to this Agreement or the Certificates up to a limit of $600,000 per calendar year, other than (i) any loss, liability or expense incurred by reason of willful misfeasance, bad faith or negligence of the Trustee in the performance of its duties hereunder or by reason of the Trustee’s 's reckless disregard of obligations and duties hereunder or (ii) resulting from a breach of the Master Servicer’s 's obligations and duties under this Agreement and the Mortgage Loans (for which the Master Servicer shall indemnify pursuant to Section 8.05(b)). Notwithstanding anything herein to the contrary, the Trustee shall be reimbursed from the Trust Fund for all Servicing Transfer Costs not paid by the Servicer pursuant to Section 7.02(a) and any expenses related to “high cost home loans” without regard to any annual limitations. This section shall survive termination of this Agreement or the resignation or removal of any Trustee hereunder.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Option One Mort Accept Corp Asset Backed Certs Ser 2003 1)

Trustee Fee and Expenses. (a) The Trustee shall withdraw from the Distribution Account on each Distribution Date and pay to itself the Trustee FeeFee and, to the extent that the funds therein are at anytime insufficient for such purpose, the Master Servicer shall pay such fees. The Master Servicer (or the Depositor, if the Trustee shall be reimbursed from becomes the Trust Fund Master Servicer) will pay or reimburse the Trustee upon its request for all reasonable expenses, disbursements and advances incurred or made by the Trustee in accordance with any of the provisions of this Agreement (not including expenses, disbursements and advances incurred or made by the Trustee including the reasonable compensation and the expenses and disbursements of its agents counsel and counsel, of all persons not regularly in its employ and any amounts paid by the ordinary course Trustee for the recording of the Trustee’s performance in accordance with the provisions Assignments of this AgreementMortgage pursuant to Section 2.01) up to a limit of $25,000 per calendar year except any such expense, disbursement or advance as may arise from its negligence or bad faith or which is the responsibility of Certificateholders or the Trustee hereunder. In addition, the Master 125 Servicer (or the Depositor, if the Trustee becomes the Master Servicer) covenants and agrees to indemnify the Trustee and its officers, directors, employees and agents shall be entitled to be indemnified forfrom, and held hold it harmless by the Trust Fund against, any and all losses, liabilities, damages, claims or expenses incurred in connection with any legal action relating to this Agreement or the Certificates up to a limit of $600,000 per calendar yearCertificates, other than (i) any loss, liability or expense incurred by reason of willful misfeasance, bad faith or negligence of the Trustee in the performance of its duties hereunder or by reason of the Trustee’s 's reckless disregard of obligations and duties hereunder or (ii) resulting from a breach of the Servicer’s obligations and duties under this Agreement and the Mortgage Loans (for which the Servicer shall indemnify pursuant to Section 8.05(b)). Notwithstanding anything herein to the contrary, the Trustee shall be reimbursed from the Trust Fund for all Servicing Transfer Costs not paid by the Servicer pursuant to Section 7.02(a) and any expenses related to “high cost home loans” without regard to any annual limitationshereunder. This section shall survive termination of this Agreement or the resignation or removal of any Trustee hereunder. If the Master Servicer (or the Depositor, if the Trustee becomes the Master Servicer) defaults in its obligations to pay or reimburse the Trustee any amount as required under this Section 8.05, the Trustee shall be entitled to be paid or reimbursed such amount at any time from the assets of the Trust Fund consisting of any amounts on deposit at such time in the Collection Account or the Distribution Account.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Option One Mortgage Loan Tr Asset Backed Cert Ser 2002-2)

Trustee Fee and Expenses. (a) The Trustee shall withdraw from the Distribution Account on each Distribution Date and pay to itself the Trustee FeeFee prior to making any distributions to Certificateholders. The Trustee Trustee, or any director, officer, employee or agent of the Trustee, shall be reimbursed from the Trust Fund for all reasonable expensesindemnified by REMIC 1 and held harmless against any loss, liability or expense (not including expenses and disbursements and advances incurred or made by the Trustee in accordance with any of the provisions of this Agreement (not including expensesTrustee, disbursements and advances incurred or made by the Trustee including the compensation and the expenses and disbursements of its agents and counsel, in the ordinary course of the Trustee’s 's performance in accordance with the provisions of this Agreement) up to a limit of $25,000 per calendar year except any such expense, disbursement or advance as may arise from its negligence or bad faith or which is the responsibility of Certificateholders or incurred by the Trustee hereunder. In addition, the Trustee and its officers, directors, employees and agents shall be entitled to be indemnified for, and held harmless by the Trust Fund against, any and all losses, liabilities, damages, claims arising 150 out of or expenses incurred in connection with any legal action relating to the acceptance or administration of its obligations and duties under this Agreement or the Certificates up to a limit of $600,000 per calendar yearAgreement, other than any loss, liability or expense (i) resulting from a breach of the Servicer's obligations and duties under this Agreement for which the Trustee is indemnified under Section 8.05(b) or (ii) any loss, liability or expense incurred by reason of willful misfeasance, bad faith or negligence of the Trustee in the performance of its duties hereunder or by reason of the Trustee’s 's reckless disregard of obligations and duties hereunder or (ii) resulting from as a result of a breach of the Servicer’s Trustee's obligations and duties under Article X hereof. Any amounts payable to the Trustee, or any director, officer, employee or agent of the Trustee, in respect of the indemnification provided by this Agreement and the Mortgage Loans (for which the Servicer shall indemnify Section 8.05(a), or pursuant to Section 8.05(b)). Notwithstanding anything herein to the contrary, the Trustee shall be reimbursed any other right of reimbursement from the Trust Fund for all Servicing Transfer Costs not paid that the Trustee, or any director, officer, employee or agent of the Trustee, may have hereunder in its capacity as such, may be withdrawn by the Servicer pursuant to Section 7.02(a) and Trustee from the Distribution Account at any expenses related to “high cost home loans” without regard to any annual limitationstime. This section The foregoing indemnity shall survive termination of this Agreement or the resignation or removal of any Trustee hereunderthe Trustee.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Equifirst Mortgage Loan Trust 2004-2)

Trustee Fee and Expenses. (a) The Trustee shall withdraw from the Distribution Account on each Distribution Date and pay to itself the Trustee FeeFee and any Trustee Reimbursable Expenses. The Trustee Trustee, and any director, officer, employee or agent of the Trustee, shall be reimbursed from the Trust Fund for all reasonable expensesindemnified by REMIC 1 and held harmless against any loss, disbursements and advances liability or "unanticipated out-of-pocket" expense incurred or made paid to third parties (which expenses shall not include salaries paid to employees, or allocable overhead, of the Trustee) incurred by the Trustee in accordance with any arising out of the provisions of this Agreement (not including expenses, disbursements and advances incurred or made by the Trustee including the compensation and the expenses and disbursements of its agents and counsel, in the ordinary course of the Trustee’s performance in accordance with the provisions of this Agreement) up to a limit of $25,000 per calendar year except any such expense, disbursement or advance as may arise from its negligence or bad faith or which is the responsibility of Certificateholders or the Trustee hereunder. In addition, the Trustee and its officers, directors, employees and agents shall be entitled to be indemnified for, and held harmless by the Trust Fund against, any and all losses, liabilities, damages, claims or expenses incurred in connection with the acceptance or administration of its obligations and duties under this Agreement, other than any legal action relating to loss, liability or expense (i) resulting from the Servicer's actions or omissions in connection with this Agreement and the Mortgage Loans for which the Trustee is indemnified under Section 8.05(b), (ii) that constitutes a specific liability of the Trustee under this Agreement or the Certificates up to a limit of $600,000 per calendar year, other than (iiii) any loss, liability or expense incurred by reason of willful misfeasance, bad faith or negligence of the Trustee in the performance of its duties hereunder or by reason of the Trustee’s 's reckless disregard of its obligations and duties hereunder hereunder. Any amounts payable to the Trustee, or (ii) resulting from a breach any director, officer, employee or agent of the Servicer’s obligations and duties under Trustee, in respect of the indemnification provided by this Agreement and the Mortgage Loans (for which the Servicer shall indemnify Section 8.05(a), or pursuant to Section 8.05(b)). Notwithstanding anything herein to the contrary, the Trustee shall be reimbursed any other right of reimbursement from the Trust Fund for all Servicing Transfer Costs not paid that the Trustee, and any director, officer, employee or agent of the Trustee, may have hereunder in its capacity as such, may be withdrawn by the Servicer pursuant to Section 7.02(a) and Trustee from the Distribution Account at any expenses related to “high cost home loans” without regard to any annual limitations. This section shall survive termination of this Agreement or the resignation or removal of any Trustee hereundertime.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Chec Loan Trust 2004-1)

Trustee Fee and Expenses. (a) The Trustee shall withdraw from the Distribution Account on each Distribution Date and pay to itself the Trustee FeeFee prior to making any distributions to Certificateholders. The Trustee Trustee, or any director, officer, employee or agent of the Trustee, shall be reimbursed from the Trust Fund for all reasonable expensesindemnified by REMIC 1 and held harmless against any loss, liability or expense (not 130 including expenses and disbursements and advances incurred or made by the Trustee in accordance with any of the provisions of this Agreement (not including expensesTrustee, disbursements and advances incurred or made by the Trustee including the compensation and the expenses and disbursements of its agents and counsel, in the ordinary course of the Trustee’s 's performance in accordance with the provisions of this Agreement) up to a limit of $25,000 per calendar year except any such expense, disbursement or advance as may arise from its negligence or bad faith or which is the responsibility of Certificateholders or incurred by the Trustee hereunder. In addition, the Trustee and its officers, directors, employees and agents shall be entitled to be indemnified for, and held harmless by the Trust Fund against, any and all losses, liabilities, damages, claims arising out of or expenses incurred in connection with any legal action relating to the acceptance or administration of its obligations and duties under this Agreement or the Certificates up to a limit of $600,000 per calendar yearAgreement, other than any loss, liability or expense (i) resulting from a breach of the Servicer's obligations and duties under this Agreement for which the Trustee is indemnified under Section 8.05(b) or (ii) any loss, liability or expense incurred by reason of willful misfeasance, bad faith or negligence of the Trustee in the performance of its duties hereunder or by reason of the Trustee’s 's reckless disregard of obligations and duties hereunder or (ii) resulting from as a result of a breach of the Servicer’s Trustee's obligations and duties under Article X hereof. Any amounts payable to the Trustee, or any director, officer, employee or agent of the Trustee, in respect of the indemnification provided by this Agreement and the Mortgage Loans (for which the Servicer shall indemnify Section 8.05(a), or pursuant to Section 8.05(b)). Notwithstanding anything herein to the contrary, the Trustee shall be reimbursed any other right of reimbursement from the Trust Fund for all Servicing Transfer Costs not paid that the Trustee, or any director, officer, employee or agent of the Trustee, may have hereunder in its capacity as such, may be withdrawn by the Servicer pursuant to Section 7.02(a) and Trustee from the Distribution Account at any expenses related to “high cost home loans” without regard to any annual limitationstime. This section The foregoing indemnity shall survive termination of this Agreement or the resignation or removal of any Trustee hereunderthe Trustee.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Equifirst Mortgage Loan Trust 2004-3 Asset-Backed Certificates, Series 2004-3)

Trustee Fee and Expenses. (a) The Trustee shall withdraw from the Distribution Account on each Distribution Date and pay to itself the Trustee FeeFee prior to making any distributions to Certificateholders. The Trustee Trustee, or any director, officer, employee or agent of the Trustee, shall be reimbursed from indemnified by the Trust Fund for all reasonable expensesand held harmless against any loss, liability or expense (not including expenses and disbursements and advances incurred or made by the Trustee in accordance with any of the provisions of this Agreement (not including expensesTrustee, disbursements and advances incurred or made by the Trustee including the compensation and the expenses and disbursements of its agents and counsel, in the ordinary course of the Trustee’s performance in accordance with the provisions of this Agreement) up to a limit of $25,000 per calendar year except any such expense, disbursement or advance as may arise from its negligence or bad faith or which is the responsibility of Certificateholders or incurred by the Trustee hereunder. In addition, the Trustee and its officers, directors, employees and agents shall be entitled to be indemnified for, and held harmless by the Trust Fund against, any and all losses, liabilities, damages, claims arising out of or expenses incurred in connection with any legal action relating to the acceptance or administration of its obligations and duties under this Agreement or the Certificates up to a limit of $600,000 per calendar yearAgreement, other than any loss, liability or expense (i) resulting from a breach of the Servicer’s obligations and duties under this Agreement for which the Trustee is indemnified under Section 8.05(b) or (ii) any loss, liability or expense incurred by reason of willful misfeasance, bad faith or negligence of the Trustee in the performance of its duties hereunder or by reason of the Trustee’s reckless disregard of obligations and duties hereunder or (ii) resulting from as a result of a breach of the ServicerTrustee’s obligations and duties under Article X hereof. Any amounts payable to the Trustee, or any director, officer, employee or agent of the Trustee, in respect of the indemnification provided by this Agreement and the Mortgage Loans (for which the Servicer shall indemnify Section 8.05(a), or pursuant to Section 8.05(b)). Notwithstanding anything herein to the contrary, the Trustee shall be reimbursed any other right of reimbursement from the Trust Fund for all Servicing Transfer Costs not paid that the Trustee, or any director, officer, employee or agent of the Trustee, may have hereunder in its capacity as such, may be withdrawn by the Servicer pursuant to Section 7.02(a) and Trustee from the Distribution Account at any expenses related to “high cost home loans” without regard to any annual limitationstime. This section The foregoing indemnity shall survive termination of this Agreement or the resignation or removal of any Trustee hereunderthe Trustee.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Fremont Home Loan Trust 2005-2)

Trustee Fee and Expenses. (a) The Trustee shall withdraw from the Distribution Account on each Distribution Date and pay to itself the Trustee FeeFee prior to making any distributions to Certificateholders. The Trustee shall pay a portion of the Trustee Fee to the Custodian as compensation for the Custodian's services under the Custodial Agreement in accordance with a separate fee schedule between the Depositor and the Custodian. In addition, the Trustee shall pay the Custodian amounts from the Distribution Account, if any, required to reimburse the Custodian for expenses, costs and liabilities incurred or reimbursable to it, as such expenses are set forth in writing by the Custodian to the Trustee by the related Determination Date pursuant to the Custodial Agreement. The Trustee, or any director, officer, employee or agent of the Trustee, shall be reimbursed from indemnified by the Trust Fund for all reasonable expensesand held harmless against any loss, liability or expense (not including expenses and disbursements and advances incurred or made by the Trustee in accordance with any of the provisions of this Agreement (not including expensesTrustee, disbursements and advances incurred or made by the Trustee including the compensation and the expenses and disbursements of its agents and counsel, in the ordinary course of the Trustee’s 's performance in accordance with the provisions of this Agreement) up to a limit of $25,000 per calendar year except any such expense, disbursement or advance as may arise from its negligence or bad faith or which is the responsibility of Certificateholders or incurred by the Trustee hereunder. In addition, the Trustee and its officers, directors, employees and agents shall be entitled to be indemnified for, and held harmless by the Trust Fund against, any and all losses, liabilities, damages, claims arising out of or expenses incurred in connection with any legal action relating to the acceptance or administration of its obligations and duties under this Agreement or the Certificates up to a limit of $600,000 per calendar yearAgreement, other than any loss, liability or expense (i) resulting from a breach of the Servicer's obligations and duties under this Agreement for which the Trustee is indemnified under Section 8.05(b) or (ii) any loss, liability or expense incurred by reason of willful misfeasance, bad faith or negligence of the Trustee in the performance of its duties hereunder or by reason of the Trustee’s 's reckless disregard of obligations and duties hereunder or (ii) resulting from as a result of a breach of the Servicer’s Trustee's obligations under Article X hereof. It is understood by the parties hereto that a "claim" as used in the preceding sentence includes any claim for indemnification made by the Custodian under Section 22 of the Custodial Agreement; provided, however, that the Trustee shall not lose any right it may have to indemnification under this Section 8.05 due to the willful misfeasance, bad faith or negligence of the Custodian in the performance of its duties under the Custodial Agreement or by reason of the Custodian's reckless disregard of its obligations and duties under the Custodial Agreement. Any amounts payable to the Trustee, or any director, officer, employee or agent of the Trustee, in respect of the indemnification provided by this Agreement and the Mortgage Loans (for which the Servicer shall indemnify Section 8.05(a), or pursuant to Section 8.05(b)). Notwithstanding anything herein to the contrary, the Trustee shall be reimbursed any other right of reimbursement from the Trust Fund for all Servicing Transfer Costs not paid that the Trustee, or any director, officer, employee or agent of the Trustee, may have hereunder in its capacity as such, may be withdrawn by the Servicer pursuant to Section 7.02(a) and Trustee from the Distribution Account at any expenses related to “high cost home loans” without regard to any annual limitationstime. This section The foregoing indemnity shall survive termination of this Agreement or the resignation or removal of any Trustee hereunder.the Trustee. 146

Appears in 1 contract

Samples: Pooling and Servicing Agreement (First Franklin Mortgage Loan Trust 2004-Ffh4)

Trustee Fee and Expenses. (a) The Trustee shall withdraw from the Distribution Account on each Distribution Date and pay to itself the Trustee Fee. The Trustee shall be reimbursed from the Trust Fund for all reasonable expenses, disbursements and advances incurred or made by the Trustee in accordance with any of the provisions of this Agreement (not including expenses, disbursements and advances incurred or made by the Trustee including the compensation and the expenses and disbursements of its agents and counsel, in the ordinary course of the Trustee’s 's performance in accordance with the provisions of this Agreement) up to a limit of $25,000 per calendar year except 137 any such expense, disbursement or advance as may arise from its negligence or bad faith or which is the responsibility of Certificateholders or the Trustee hereunder. In addition, the Trustee and its officers, directors, employees and agents shall be entitled to be indemnified for, and held harmless by the Trust Fund against, any and all losses, liabilities, damages, claims or expenses incurred in connection with any legal action relating to this Agreement or the Certificates up to a limit of $600,000 per calendar year, other than (i) any loss, liability or expense incurred by reason of willful misfeasance, bad faith or negligence of the Trustee in the performance of its duties hereunder or by reason of the Trustee’s 's reckless disregard of obligations and duties hereunder or (ii) resulting from a breach of the Master Servicer’s 's obligations and duties under this Agreement and the Mortgage Loans (for which the Master Servicer shall indemnify pursuant to Section 8.05(b)). Notwithstanding anything herein to the contrary, the Trustee shall be reimbursed from the Trust Fund for all Servicing Transfer Costs not paid by the Servicer pursuant to Section 7.02(a) and any expenses related to “high cost home loans” without regard to any annual limitations. This section shall survive termination of this Agreement or the resignation or removal of any Trustee hereunder.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Option One Mort Acceptance Corp Asset Back Cert Ser 2003 2)

Trustee Fee and Expenses. (a) The Trustee shall withdraw from the Distribution Account on each Distribution Date and pay to itself the Trustee FeeFee and, to the extent that the funds therein are at anytime insufficient for such purpose, the Master Servicer shall pay such fees. The Master Servicer (or the Depositor, if the Trustee shall be reimbursed from becomes the Trust Fund Master Servicer) will pay or reimburse the Trustee upon its request for all reasonable expenses, disbursements and advances incurred or made by the Trustee in accordance with any of the provisions of this Agreement (not including expenses, disbursements and advances incurred or made by the Trustee including the reasonable compensation and the expenses and disbursements of its agents counsel and counsel, of all persons not regularly in its employ and any amounts paid by the ordinary course Trustee for the recording of the Trustee’s performance in accordance with the provisions Assignments of this AgreementMortgage pursuant to Section 2.01) up to a limit of $25,000 per calendar year except any such expense, disbursement or advance as may arise from its negligence or bad faith or which is the responsibility of Certificateholders or the Trustee hereunder. In addition, the Master Servicer (or the Depositor, if the Trustee becomes the Master Servicer) covenants and agrees to indemnify the Trustee and its officers, directors, employees and agents shall be entitled to be indemnified forfrom, and held hold it harmless by the Trust Fund against, any and all losses, liabilities, damages, claims or expenses incurred in connection with any 115 legal action relating to this Agreement or the Certificates up to a limit of $600,000 per calendar yearCertificates, other than (i) any loss, liability or expense incurred by reason of willful misfeasance, bad faith or negligence of the Trustee in the performance of its duties hereunder or by reason of the Trustee’s 's reckless disregard of obligations and duties hereunder or (ii) resulting from a breach of the Servicer’s obligations and duties under this Agreement and the Mortgage Loans (for which the Servicer shall indemnify pursuant to Section 8.05(b)). Notwithstanding anything herein to the contrary, the Trustee shall be reimbursed from the Trust Fund for all Servicing Transfer Costs not paid by the Servicer pursuant to Section 7.02(a) and any expenses related to “high cost home loans” without regard to any annual limitationshereunder. This section shall survive termination of this Agreement or the resignation or removal of any Trustee hereunder. If the Master Servicer (or the Depositor, if the Trustee becomes the Master Servicer) defaults in its obligations to pay or reimburse the Trustee any amount as required under this Section 8.05, the Trustee shall be entitled to be paid or reimbursed such amount at any time from the assets of the Trust Fund consisting of any amounts on deposit at such time in the Collection Account or the Distribution Account.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Option One Mortgage Acceptance Corp Ass Back Cert Ser 2000 4)

Trustee Fee and Expenses. (a) The Trustee shall withdraw from the Distribution Account on each Distribution Date and pay to itself the Trustee FeeFee in accordance with Section 4.01(a) and, to the extent that the funds therein are at anytime insufficient for such purpose, the Master Servicer shall pay such fees. The Master Servicer (or the Depositor, if the Trustee shall be reimbursed from becomes the Trust Fund Master Servicer) will pay or reimburse the Trustee upon its request for all reasonable expenses, disbursements and advances incurred or made by the Trustee in accordance with any of the provisions of this Agreement (not including expenses, disbursements and advances incurred or made by the Trustee including the reasonable compensation and the expenses and disbursements of its agents counsel and counsel, of all persons not regularly in its employ and any amounts paid by the ordinary course Trustee for the recording of the Trustee’s performance in accordance with the provisions Assignments of this AgreementMortgage pursuant to Section 2.01) up to a limit of $25,000 per calendar year except any such expense, disbursement or advance as may arise from its negligence or bad faith or which is the responsibility of Certificateholders or the Trustee hereunder. In addition, the Master Servicer (or the Depositor, if the Trustee becomes the Master Servicer) covenants and agrees to indemnify the Trustee and its officers, directors, employees and agents shall be entitled to be indemnified forfrom, and held hold it harmless by the Trust Fund against, any and all losses, liabilities, damages, claims or expenses incurred in connection with any legal action relating to this Agreement or the Certificates up to a limit of $600,000 per calendar yearCertificates, other than (i) any loss, liability or expense incurred by reason of willful misfeasance, bad faith or negligence of the Trustee in the performance of its duties hereunder or by reason of the Trustee’s 's reckless disregard of obligations and duties hereunder or (ii) resulting from a breach of the Servicer’s obligations and duties under this Agreement and the Mortgage Loans (for which the Servicer shall indemnify pursuant to Section 8.05(b)). Notwithstanding anything herein to the contrary, the Trustee shall be reimbursed from the Trust Fund for all Servicing Transfer Costs not paid by the Servicer pursuant to Section 7.02(a) and any expenses related to “high cost home loans” without regard to any annual limitationshereunder. This section shall survive termination of this Agreement or the resignation or removal of any Trustee hereunder. If the Master Servicer (or the Depositor, if the Trustee becomes the Master Servicer) defaults in its obligations to pay or reimburse the Trustee any amount as required under this Section 8.05, the Trustee shall be entitled to be paid or reimbursed such amount at any time from the assets of the Trust Fund consisting of any amounts on deposit at such time in the Collection Account or the Distribution Account pursuant to Section 3.11(b)(v).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Option One Mortgage Loan Tr Asset Backed Cert Ser 2002-5)

Trustee Fee and Expenses. (a) The Trustee shall withdraw from the Distribution Account on each Distribution Date and pay to itself the Trustee FeeFee and, to the extent that the funds therein are at anytime insufficient for such purpose, the Master Servicer shall pay such fees. The Master Servicer (or the Depositor, if the Trustee shall be reimbursed from becomes the Trust Fund Master Servicer) will pay or reimburse the Trustee upon its request for all reasonable expenses, disbursements and advances incurred or made by the Trustee in accordance with any of the provisions of this Agreement (not including expenses, disbursements and advances incurred or made by the Trustee including the reasonable compensation and the expenses and disbursements of its agents counsel and counsel, of all persons not regularly in its employ and any amounts paid by the ordinary course Trustee for the recording of the Trustee’s performance in accordance with the provisions Assignments of this AgreementMortgage pursuant to Section 2.01) up to a limit of $25,000 per calendar year except any such expense, disbursement or advance as may arise from its negligence or bad faith or which is the responsibility of Certificateholders or the Trustee hereunder. In addition, the Master 133 Servicer (or the Depositor, if the Trustee becomes the Master Servicer) covenants and agrees to indemnify the Trustee and its officers, directors, employees and agents shall be entitled to be indemnified forfrom, and held hold it harmless by the Trust Fund against, any and all losses, liabilities, damages, claims or expenses incurred in connection with any legal action relating to this Agreement or the Certificates up to a limit of $600,000 per calendar yearCertificates, other than (i) any loss, liability or expense incurred by reason of willful misfeasance, bad faith or negligence of the Trustee in the performance of its duties hereunder or by reason of the Trustee’s 's reckless disregard of obligations and duties hereunder or (ii) resulting from a breach of the Servicer’s obligations and duties under this Agreement and the Mortgage Loans (for which the Servicer shall indemnify pursuant to Section 8.05(b)). Notwithstanding anything herein to the contrary, the Trustee shall be reimbursed from the Trust Fund for all Servicing Transfer Costs not paid by the Servicer pursuant to Section 7.02(a) and any expenses related to “high cost home loans” without regard to any annual limitationshereunder. This section shall survive termination of this Agreement or the resignation or removal of any Trustee hereunder. If the Master Servicer (or the Depositor, if the Trustee becomes the Master Servicer) defaults in its obligations to pay or reimburse the Trustee any amount as required under this Section 8.05, the Trustee shall be entitled to be paid or reimbursed such amount at any time from the assets of the Trust Fund consisting of any amounts on deposit at such time in the Collection Account or the Distribution Account.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Option One Mort Accept Corp Asset Backed Cert Ser 2002-3)

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