Capacity of Trustee Clause Samples
The Capacity of Trustee clause defines the legal authority and limitations under which a trustee acts when entering into agreements or performing duties. It typically clarifies that the trustee is acting solely in their capacity as trustee of a specific trust, not in a personal capacity, and that their liability is limited to the assets of the trust. This clause ensures that the trustee is not personally liable for obligations incurred on behalf of the trust, thereby protecting the trustee from personal risk and providing assurance to all parties about the scope of the trustee's authority.
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Capacity of Trustee. It is expressly understood and agreed by the parties hereto that insofar as this Agreement is acknowledged by HSBC Bank USA, National Association (i) it is acknowledged and delivered by such party, not in its individual capacity but solely as Trustee under the Trust Agreement in the exercise of the powers and authority conferred to and vested in it thereunder, (ii) each of the representations, undertakings and agreements herein made on behalf of the Trust Fund is made and intended not as personal representations, undertakings and agreements of the Trustee but is made and intended solely for the purpose of binding only the Trust Fund, and (iii) under no circumstances shall the Trustee in its individual capacity be personally liable for the payment of any indebtedness or expenses or be personally liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken under this Agreement or any related document. Executed as of the day and year first above written. ▇▇▇▇▇▇ BROTHERS HOLDINGS INC., as Seller By: Name: ▇▇▇▇▇ ▇▇▇▇▇▇▇ Title: Authorized Signatory COUNTRYWIDE HOME LOANS SERVICING LP, as Servicer By: Countrywide GP, Inc., its General Partner By: Name: Title: COUNTRYWIDE HOME LOANS, INC. By: Name: Title: Acknowledged: AURORA LOAN SERVICES LLC, as Master Servicer By: Name: ▇▇▇▇▇▇▇ ▇▇▇▇ Title: Vice President HSBC BANK USA, NATIONAL ASSOCIATION as Trustee By: Name: Title:
1. Unless otherwise specified herein, any provisions of the SWSA, including definitions, relating to (i) representations and warranties relating to the Mortgage Loans and not relating to the servicing of the Mortgage Loans, (ii) Mortgage Loan repurchase obligations, (iii) Whole Loan and Pass-Through Transfers and Reconstitution, and (iv) Assignments of Mortgage, shall be disregarded for purposes relating to this Agreement. Sections 2.01, 2.02, 2.03, 3.02 and 3.06 of the SWSA, the exhibits to the SWSA and all references to such exhibits shall also be disregarded and shall be redacted from the SWSA before being attached hereto as Exhibit B.
2. The definition of “Eligible Investments” in Article I is hereby amended and restated in its entirety to read as follows:
Capacity of Trustee. The Trustee is entering into this Agreement solely in its capacity as Trustee under the Authorizing Document and the duties, powers, rights and liabilities of the Trustee in acting hereunder as Trustee shall be subject to the provisions of the Authorizing Document including, without limitation, [Authorizing Document reference] thereof.
Capacity of Trustee. It is expressly understood and agreed by the parties hereto that insofar as this Agreement is acknowledged by HSBC Bank USA, National Association (i) it is acknowledged and delivered by such party, not in its individual capacity but solely as Trustee under the Trust Agreement in the exercise of the powers and authority conferred to and vested in it thereunder, (ii) each of the representations, undertakings and agreements herein made on behalf of the Trust Fund is made and intended not as personal representations, undertakings and agreements of the Trustee but is made and intended solely for the purpose of binding only the Trust Fund, and (iii) under no circumstances shall the Trustee in its individual capacity be personally liable for the payment of any indebtedness or expenses or be personally liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken under this Agreement or any related document. 10.
Capacity of Trustee. It is expressly understood and agreed by the parties hereto that insofar as this Agreement is executed by U.S. Bank National Association (i) it is executed and delivered by such party, not in its individual capacity but solely as Trustee under the Trust Agreement dated as of November 1, 2007, among the Depositor, the Trustee, the Securities Administrator and any other party named therein in the exercise of the powers and authority conferred to and vested in it thereunder, (ii) each of the representations, undertakings and agreements herein made on behalf of the Trust Fund is made and intended not as personal representations, undertakings and agreements of the Trustee but is made and intended solely for the purpose of binding only the Trust Fund, and (iii) under no circumstances shall the Trustee in its individual capacity be personally liable for the payment of any indebtedness or expenses or be personally liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken under this Agreement or any related document.
Capacity of Trustee. It is expressly understood and agreed by the parties hereto that (a) the Trustee accepts all right, title and interest to the Receivables, the proceeds thereof, and the other property, now existing and hereafter created, conveyed to the Trustee under this Agreement as Trustee for the benefit of the Certificateholders and, if provided in a Supplement, the Series Enhancers, and not in its individual capacity, (b) under no circumstance will the Trustee be deemed to make any representations or warranties in its individual capacity in respect of the Receivables so conveyed, (c) the Trustee shall have no obligation to expend its own funds to purchase Receivables pursuant to the terms of this Agreement, and (d) under no circumstance shall Bankers Trust Company be personally liable for the payment of any indebtedness or expenses of the Trust. [END OF ARTICLE XI]
Capacity of Trustee. The Trustee is entering into this Agreement solely in its capacity as Trustee under the Indenture and the duties, powers and liabilities of the Trustee in acting hereunder shall be subject to the provisions of the Indenture, including, without limitation, the provisions of Article VIII thereof.
Capacity of Trustee. Wilmington Trust Company is executing this Lease solely as Trustee under the Trust Agreement and not in its individual capacity and in no case whatsoever shall Wilmington Trust Company (or any Person acting as a trustee under the Trust Agreement) be personally liable for, or for any loss in respect of, any of the statements, warranties, representations, agreements or obligations of the Lessor hereunder, as to which the Lessee agrees to look solely to the Trust Estate, except to the extent expressly otherwise provided in the Participation Agreement.
Capacity of Trustee. ▇▇▇▇ LOAN AGREEMENT THIS AGREEMENT, effective as of 1/19, 1993, by and between ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ & CO., INC., a California corporation (the "Company"), and THE ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ PROFIT SHARING AND EMPLOYEE STOCK OWNERSHIP PLAN AND TRUST (the "Borrower").
Capacity of Trustee. The Manager acknowledges that the Trustee enters into this Agreement in its personal capacity as trustee of the Fund and that the Trustee has no right to any indemnity from the beneficiaries of the Fund against any liability or obligation of the Trustee.
Capacity of Trustee. The Trustee is entering into the Escrow Agreement in its capacity as trustee under the Indenture. Subject to the provisions of Sections 4, 5, and 10 hereof, moneys held by the Trustee hereunder are to be held and applied for the payment of the Refunded Bonds in accordance with the Indenture.