Funding Security Trustees definition
Examples of Funding Security Trustees in a sentence
In particular, but without limitation, the Servicer shall promptly notify the Mortgages Trustee, the Beneficiaries and the Funding Security Trustees of the existence of any insurance policies to which the Seller is a party or in which it has an interest in addition to those specifically referred to in the definition of Insurance Policies in the Master Definitions and Construction Schedule.
Any change in the Variable Rate and/or the Differential Rate or any other discretionary rate or margin in relation to any Loan shall be notified in writing to each of the Mortgages Trustee, the Beneficiaries and the Funding Security Trustees as soon as reasonably practicable and the Servicer shall, upon receipt of a request from any of such parties, notify such requesting party of any changes in the Monthly Payments in relation to the Loans sold by the Seller to the Mortgages Trustee.
All notices served under this Agreement shall be simultaneously copied to the Funding Security Trustees by the person serving the same.
If, at any time, the Cash Manager is in any doubt as to which ledger a particular amount should be credited or debited, it shall consult with the Funding Security Trustees (in relation to the Mortgages Trustee Ledgers) or with the Security Trustee (in relation to the Funding Ledgers) or with the Funding 2 Security Trustee (in relation to the Funding 2 Ledgers).
Save as otherwise provided in this Agreement, the Cash Manager shall have no liability for the obligations of either the Mortgages Trustee, the Funding Companies or the Funding Security Trustees under any of the Transaction Documents or otherwise.
The Cash Manager shall have no right of set-off or any lien in respect of such amounts against amounts held by it on behalf of the Mortgages Trustee, the Funding Companies or the Funding Security Trustees.
Nothing herein shall constitute a guarantee, or similar obligation, by the Cash Manager of the Mortgages Trustee, the Funding Companies or the Funding Security Trustees in respect of any of them.
Nothing in this Agreement shall prevent the Cash Manager from rendering or performing services similar to those provided for in this Agreement to or for itself or other persons, firms or companies or from carrying on business similar to or in competition with the business of the Mortgages Trustee, the Funding Companies or the Funding Security Trustees.
Nothing herein contained shall impose any obligation or liability on the Funding Security Trustees to assume or perform any of the obligations of the Mortgages Trustee, the Funding Companies or the Cash Manager hereunder or render it liable for any breach thereof.
The Cash Manager may not assign or transfer any of its rights and obligations under this Agreement without the prior written consent of the Mortgages Trustee, the Seller, the Funding Beneficiaries and the Funding Security Trustees.