Trustee Rights. As an inducement to ABSC and the Trust to purchase the Mortgage Loans, the Company acknowledges and consents to the transfer to ABSC and from ABSC to the Trust of all of DLJMC’s rights against the Company pursuant to each Mortgage Loan Purchase Agreement insofar as such rights relate to the Mortgage Loans and to the enforcement or exercise of any right or remedy against the Company pursuant to the Mortgage Loan Purchase Agreement, including, without limitation, the remedies specified in Section 7.04 of the Mortgage Loan Purchase Agreement, subject to Section 3 hereof. Such enforcement of a right or remedy by the Trustee shall have the same force and effect as if the right or remedy had been enforced or exercised by DLJMC directly.
Trustee Rights. The rights, privileges, immunities and indemnities provided to the Trustee under Article VIII of the Indenture shall, to the extent applicable, apply in this Agreement as if fully set forth herein. Intercreditor Agreement
Trustee Rights. The rights, privileges, immunities, indemnities and standard of care provided to the Trustee under Article VIII of the Indenture shall, to the extent applicable, apply in this Agreement and to the Trustee's acts and omissions related to this Agreement, the Collateral and the Security Documents as if fully set forth herein. In addition to the foregoing, the parties hereto agree that:
(a) the permissive rights of the Trustee to do things enumerated in this Agreement shall not be construed as a duty and the Trustee shall not be answerable for other than its gross negligence or willful misconduct;
(b) except as expressly instructed by the Holders or the Issuer or any other Credit Party, the Trustee shall have no obligation to give, execute, deliver, file, record, authorize or obtain any financing statements, notices, instruments, documents, agreements, consents or other papers as shall be necessary to create, preserve, perfect or validate the security interest granted pursuant hereto or to enable the Trustee to exercise and enforce its rights hereunder with respect to such pledge and security interest, and the Trustee have no responsibility or liability (i) in connection with the acts or omissions of the Credit Parties in respect of the foregoing or (ii) for or with respect to the legality, validity and enforceability of any security interest created in the Collateral or the perfection and priority of such security interest; and
(c) the Trustee shall have no obligation to obtain title to any piece of real property by foreclosure, deed in lieu of foreclosure or otherwise, or take any other action with respect to any real property, if, in its reasonable, good faith judgment, it shall determine that, as a result of such action, the Trustee would be liable, in its individual capacity for any environmental liability in connection with, or responsibility for the clean-up or remediation of, such real property under any applicable environmental laws and regulations.
Trustee Rights. The Trustee shall be entitled to the same rights, protections, immunities and indemnities as set forth in the Indenture, as if the provisions setting forth those rights, protections, immunities and indemnities are fully set forth herein.
Trustee Rights. Each of the Seller and the Servicer agrees that the Trustee shall be a third party beneficiary of this Agreement as if it were a party hereto with all corresponding rights. In addition, each of the Seller and the Servicer expressly acknowledges and agrees that all of the Purchaser's right, title and interest in, to and under this Agreement, and each Xxxx of Sale delivered hereunder, is being collaterally assigned and pledged by the Purchaser to the Trustee for the benefit of the Noteholders pursuant to the Indenture in order to secure the Purchaser's obligations under the Indenture and the Notes.
Trustee Rights. In acting under and by virtue of this Second Supplemental Indenture, the Trustee shall have all of the rights, protections and immunities given to it under the Indenture. The Trustee is not responsible for the validity or sufficiency of this Second Supplemental Indenture, nor for the recitals contained herein, all of which shall be taken as statements of the Company.
Trustee Rights. 47 Exhibit A Form of Xxxx of Sale Exhibit B Form of Monthly Servicer Report This SALE AND SERVICING AGREEMENT dated as of August 15, 1997 is by and among JLA CREDIT CORPORATION, as Seller (the "Seller") and as Servicer (the "Servicer"), and JLA FUNDING CORPORATION II, as Purchaser (the "Purchaser").
Trustee Rights. Each Subsidiary Guarantor agrees to pay all costs, expenses and fees, including all reasonable attorneys’ fees and expenses, which may be incurred by the Trustee in enforcing or attempting to enforce any of its Guarantees or protecting the rights of the Trustee or the Holders of the Securities of any series it guarantees, if any, in accordance with this Indenture.
Trustee Rights. Nothing contained in this Agreement shall constitute evidence of any agreement or understanding, express or implied, that the Optionee has a right to continue as a Managing Trustee for any period of time. Notwithstanding the foregoing, if the Optionee continues to serve as a Managing Trustee during the first three (3) years of the Exercise Term, the Optionee shall have the right to serve as the Non-Executive Chairman of the Board of Trustees of the Company during such period. This right is personal to Xxxxxxx X. Xxxx and shall not inure to the benefit of any successor, assign or legal representative of Xxxxxxx X. Xxxx.
Trustee Rights. Nothing contained in this Agreement shall constitute evidence of any agreement or understanding, express or implied, that the Optionee has a right to continue as a Managing Trustee for any period of time.
