Examples of Backup in a sentence
The parties expressly acknowledge that U.S. Bank Trust is an Affiliate of U.S. Bank N.A. and consent to such Affiliates serving in the capacities of Trustee (U.S. Bank Trust), Securities Intermediary, Custodian, Backup Servicer, and Lockbox Bank (U.S. Bank N.A.), respectively.
Back-up documentation supporting each cost item for this category shall be provided by Maintenance Contractor and approved by TxDOT in writing prior to any payment authorization being granted.
Each of U.S. Bank N.A., as Custodian, Backup Servicer, Securities Intermediary, and Lockbox Bank, and U.S. Bank Trust, as Trustee may discharge its separate functions fully, without hindrance or regard to conflict of interest principles, duty of loyalty principles or other breach of fiduciary duties to the extent that any such conflict or breach arises from the performance by U.S. Bank N.A. or U.
Notwithstanding anything to the contrary herein, the Backup Servicer, in such role or as Successor Servicer, may use agents to perform its duties hereunder without the consent of any party hereto, but the Backup Servicer shall remain liable for the performance of such agents as if it were performing such duties.
The Backup Servicer shall certify to the Trustee that it has verified the Monthly Report in accordance with this Section 9.04(a) and shall notify the Servicer and the Trustee of any discrepancies, in each case, on or before the fifth Business Day following the related Payment Date.