Paying Agent and Custodian definition
Examples of Paying Agent and Custodian in a sentence
The Corporation hereby appoints the U.S. Trustee to act as the initial Registrar, Paying Agent and Custodian with respect to the Global Securities.
The Trustee and the Paying Agent and Custodian may, but shall not be obligated to, enter into any such amendment which affects the Trustee’s or the Paying Agent and Custodian’s, as applicable, own rights, duties or immunities under this Agreement or otherwise.
Indemnification under this Section shall survive the resignation or removal of the Trustee or the Paying Agent and Custodian, the termination of the Trust or the Trust Agreement and the termination of this Agreement and shall include reasonable fees and expenses of counsel and expenses of litigation.
The Paying Agent and Custodian shall thereupon release or cause to be released to the Seller the related Tax Lien File and shall execute and deliver at the expense of the Trust such instruments of release, transfer or assignment as shall be requested by the Seller to vest in the Seller all right, title and interest to such related Tax Lien, and the Paying Agent and Custodian shall have no further rights or responsibility with regard to such Tax Lien File.
The provisions of this Agreement are solely for the benefit of the Seller, the Trust, the Trustee, the Paying Agent and Custodian and, with respect to Section 5.01 only, the Servicers, and nothing in this Agreement, whether express or implied, shall be construed to give to any other Person any legal or equitable right, remedy or claim under or in respect of this Agreement or any covenants, conditions or provisions contained herein.
Pursuant to Section 7.08 of the Indenture, Resigning Trustee has by letter notified the Company that Resigning Trustee is resigning as Trustee, Registrar, Paying Agent and Custodian under the Indenture.
As compensation for its services hereunder and under the Servicing Agreement (including in its capacity as Paying Agent and Custodian), the Indenture Trustee shall be entitled to receive an annual fee (which shall not be limited by any provision of law in regard to the compensation of a Indenture Trustee of an express trust) payable by the Master Servicer.
The Indenture Trustee, Paying Agent and Custodian shall not have any liability or obligation (including any obligation to monitor or make any determination, decision or election, or otherwise have any involvement) with respect to any determination of the Benchmark Replacement, LIBOR or any alternate benchmark rate, or for monitoring for the occurrence of a Benchmark Transition Event.
Successor Trustee is willing to accept such appointment as successor Trustee, Registrar, Paying Agent and Custodian under the Indenture.
The Company hereby appoints the Trustee the initial Registrar and Paying Agent and Custodian for each Series unless another Registrar, Paying Agent or Custodian, as the case may be, is appointed prior to the time the Notes of that Series are first issued.