Common use of TRUSTEE NOT LIABLE FOR CERTIFICATES OR ASSETS Clause in Contracts

TRUSTEE NOT LIABLE FOR CERTIFICATES OR ASSETS. The recitals contained in the Pooling and Servicing Agreement and in the Certificates (other than the signature and countersignature of the Trustee on the Certificates) shall be taken as the statements of the Company or the Servicer and the Trustee assumes no responsibility for their correctness. The Trustee makes no representations or warranties as to the validity or sufficiency of the Pooling and Servicing Agreement or of the Certificates (other than the signature and countersignature of the Trustee on the Certificates) or of any underlying Asset or related document. The Trustee shall not be accountable for the use or application by the Company of any of the Certificates or of the proceeds of such Certificates, or for the use or application of any funds paid to the Servicer in respect of the underlying Assets or deposited in or withdrawn from the Servicing Account, the Certificate Account or the Distribution Account other than any funds held by or on behalf of the Trustee in accordance with the Pooling and Servicing Agreement.

Appears in 10 contracts

Samples: Pooling and Servicing Agreement (Deutsche Financial Capital Securitization LLC), Pooling and Servicing Agreement (Bombardier Capital Mortgage Securitization Corp), Pooling and Servicing Agreement (Deutsche Financial Capital Securitization LLC)

AutoNDA by SimpleDocs

TRUSTEE NOT LIABLE FOR CERTIFICATES OR ASSETS. The recitals contained in the Pooling and Servicing Agreement and in the Certificates (other than the signature and countersignature of the Trustee on the Certificates) shall be taken as the statements of the Company OMI or the Servicer and the Trustee assumes no responsibility for their correctness. The Trustee makes no representations or warranties as to the validity or sufficiency of the Pooling and Servicing Agreement or of the Certificates (other than the signature and countersignature of the Trustee on the Certificates) or of any underlying Asset or related document. The Trustee shall not be accountable for the use or application by the Company OMI of any of the Certificates or of the proceeds of such Certificates, or for the use or application of any funds paid to the Servicer in respect of the underlying Assets or deposited in or withdrawn from the Servicing Account, the Certificate Account or the Distribution Account other than any funds held by or on behalf of the Trustee in accordance with the Pooling and Servicing Agreement.

Appears in 4 contracts

Samples: Pooling and Servicing Agreement (Oakwood Mortgage Investors Inc), Pooling and Servicing Agreement (Oakwood Mortgage Investors Inc), Pooling and Servicing Agreement (Oakwood Mortgage Investors Inc)

TRUSTEE NOT LIABLE FOR CERTIFICATES OR ASSETS. The recitals contained in the Pooling and Servicing Agreement and in the Certificates (other than the signature and countersignature of the Trustee on the Certificates) shall be taken as the statements of the Company Depositor or the Master Servicer and the Trustee assumes no responsibility for their correctness. The Trustee makes no representations or warranties as to the validity or sufficiency of the Pooling and Servicing Agreement or of the Certificates (other than the signature and countersignature of the Trustee on the Certificates) or of any underlying Asset or related document. The Trustee shall not be accountable for the use or application by the Company Depositor of any of the Certificates or of the proceeds of such Certificates, or for the use or application of any funds paid to the Master Servicer in respect of the underlying Assets or deposited in or withdrawn from the Servicing Account, the Certificate Account or the Distribution Account other than any funds held by or on behalf of the Trustee in accordance with the Pooling and Servicing Agreement.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Residential Resources Inc), Pooling and Servicing Agreement (Union Planters Mortgage Finance Corp)

AutoNDA by SimpleDocs

TRUSTEE NOT LIABLE FOR CERTIFICATES OR ASSETS. The recitals contained in the Pooling and Servicing Agreement and in the Certificates (other than the signature and countersignature of the Trustee on the Certificates) shall be taken as the statements of the Company Depositor or the Master Servicer and the Trustee assumes no responsibility for their correctness. The Trustee makes no representations or warranties as to the validity or sufficiency of the Pooling and Servicing Agreement or of the Certificates (other than the signature and countersignature of the Trustee on the Certificates) or of any underlying Asset or related document. The Trustee shall not be accountable for the use or application by the Company Depositor of any of the Certificates or of the proceeds of such Certificates, or for the use or application of any funds paid to the Master Servicer in respect of the underlying Assets or deposited in or withdrawn from the Servicing Collection Account, the Certificate Account or the Distribution Account other than any funds held by or on behalf of the Trustee in accordance with the Pooling and Servicing Agreement.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Union Planters Mortgage Finance Corp), Pooling and Servicing Agreement (Union Planters Home Equity Corp)

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