Common use of Administration of Each Trust Clause in Contracts

Administration of Each Trust. (a) The Trustee shall administer the Underlying Securities for each given Trust for the benefit of the Certificateholders of the related Series. In engaging in such activities, the Trustee shall follow or cause to be followed collection procedures in accordance with the terms of these Standard Terms and the applicable Supplement, the respective Underlying Securities and any applicable Credit Support Instruments. With respect to each Trust, and subject only to the above-described standards and the terms of these Standard Terms, the related Supplement and the respective Underlying Securities and applicable Credit Support Instruments, if any, the Trustee shall have full power and authority, acting alone or through Administrative Agents as provided in Section 7.02, to do or cause to be done any and all things in connection with such administration which it deems necessary to comply with the terms of these Standard Terms and the applicable Supplement. (b) The duties of the Trustee shall be performed in accordance with applicable local, State and Federal law, and the Trustee shall, at the direction of the Depositor, make any and all filings, reports, notices or applications with (as prepared by the Depositor), and seek any comments and authorizations from, the Commission and any State securities authority on behalf of the Trust for each Series.

Administration of Each Trust. (a) The Trustee shall administer the Underlying Securities for each given Trust for the benefit of the Certificateholders of the related Series. In engaging in such activities, the Trustee shall follow or cause to be followed collection procedures in accordance with the terms of these Standard Terms and the applicable Series Supplement, the respective Underlying Securities and any applicable Credit Support Instruments. With respect to each Trust, and subject only to the above-described standards and the terms of these Standard Terms, the related Series Supplement and the respective Underlying Securities and applicable Credit Support Instruments, if any, the Trustee shall have full power and authority, acting alone or through Sub-Administrative Agents as provided in Section 7.02, to do or cause to be done any and all things in connection with such administration which it deems necessary to comply with the terms of these Standard Terms and the applicable Series Supplement. (b) The duties of the Trustee shall be performed in accordance with applicable local, State and Federal law, and the Trustee shall, at the direction of the Depositor, shall make any and all filings, reports, notices or applications with (as prepared by the Depositor)with, and seek any comments and authorizations from, the Commission and any State securities authority on behalf of the Trust for each Series.