Substitute Trustee definition

Substitute Trustee means an assignee of the Trustee's Interest who is admitted to the Trust as a Trustee pursuant to Section 4.12 or 11.2.

Substitute Trustee means a person appointed by the current mortgagee or mortgage servicer under the terms of the security instrument to exercise the power of sale.

Substitute Trustee. Any Substitute Trustee (other than the Manager when acting as Trustee) must be approved by each Seller which approval is not to be unreasonably withheld or delayed.

Examples of Substitute Trustee in a sentence

• The Issuer will not assign or otherwise transfer the benefit of this Deed or any of its rights, duties or obligations under this Deed except to a Substitute Trustee which is appointed as a successor trustee of the Series Trust under and in accordance with the Master Trust Deed.

• The Purchaser shall have no further recourse against the Mortgagor, the Mortgagee, the Substitute Trustee or the attorney of any of the foregoing.

• The right to appoint a Substitute Trustee shall exist as often and whenever from any of said causes, Trustee or Substitute Trustee, resigns or cannot, will not or does not act, or Agent desires to appoint a new Trustee.

• The Trustee will not assign or otherwise transfer the benefit of this Agreement or any of its rights, duties or obligations under this Agreement except to a Substitute Trustee acceptable to the Liquidity Facility Provider (whose consent is not to be unreasonably withheld).

• The Trustee will not assign or otherwise transfer the benefit of this Agreement or any of its rights, duties or obligations under this Agreement except to a Substitute Trustee acceptable to the Standby Redraw Facility Provider (whose consent is not to be unreasonably withheld).

• This property is being sold with the express reservation that it is subject to confirmation by the lender or Substitute Trustee.

• A Substitute Trustee shall be vested with title to the Property and with all rights, powers, and duties of the original Trustee herein and all provisions hereof pertaining to the Trustee shall similarly affect any Substitute Trustee.

• The right to appoint a Substitute Trustee shall exist as often and whenever from any of said causes, the Trustee, original or Substitute Trustee, resigns or cannot, will not or does not act, or Beneficiary or the holder(s) of a majority of the Obligations desires to appoint a new Trustee.

• No bond shall ever be required of the Trustee, original or Substitute Trustee.

• All right and equity of redemption, statutory or otherwise, homestead, and dower are expressly waived in said Deed of Trust, and the title is believed to be good, but the undersigned will sell and convey only as Substitute Trustee.

More Definitions of Substitute Trustee

Substitute Trustee means at any given time the entity then appointed as Trustee under clause 19.

Substitute Trustee means an individual,

Substitute Trustee means the person retained or appointed by the Insured, or by a person or body entitled or required to make such substitute appointment for the Insured, in the absence of the appointed Trustee, to execute a trust and/or to be vested in an estate, interest, or power relating to real estate to be received, held, administered, or sold for the benefit or to the use of another in the performance by the Insured of the services provided coverage under and pursuant to this Policy and any endorsements hereto.