Purpose and Powers of the Trust. (a) The purpose of the common law trust, as created hereunder, is to engage in the following activities: (b) acquire and hold the Loans and the other assets of the Trust Fund and the proceeds therefrom; (c) to issue the Certificates sold to the Depositor in exchange for the Loans; (d) to make payments on the Certificates; (e) to engage in those activities that are necessary, suitable or convenient to accomplish the foregoing or are incidental thereto or connected therewith; and (f) subject to compliance with this Agreement, to engage in such other activities as may be required in connection with conservation of the Trust Fund and the making of distributions to the Certificateholders. The trust is hereby authorized to engage in the foregoing activities. The Trustee shall not cause the trust to engage in any activity other than in connection with the foregoing or other than as required or authorized by the terms of this Agreement while any Certificate is outstanding, and this Section 2.8 may not be amended without the consent of the Certificateholders evidencing 51% or more of the aggregate Voting Rights of the Certificates.
Appears in 26 contracts
Sources: Pooling and Servicing Agreement, Pooling and Servicing Agreement (Deutsche Alt-a Securities Mortgage Loan Trust, Series 2006-Ar5), Pooling and Servicing Agreement (Deutsche Alt-a Securities Mortgage Loan Trust, Series 2006-Oa1)
Purpose and Powers of the Trust. (a) The purpose of the common law trust, as created hereunder, is to engage in the following activities:
(ba) acquire and hold the Mortgage Loans and the other assets of the Trust Fund and the proceeds therefrom;
(cb) to issue the Certificates sold to the Depositor in exchange for the Mortgage Loans;
(dc) to make payments on the Certificates;
(ed) to engage in those activities that are necessary, suitable or convenient to accomplish the foregoing or are incidental thereto or connected therewith; and
(fe) subject to compliance with this Agreement, to engage in such other activities as may be required in connection with conservation of the Trust Fund and the making of distributions to the Certificateholders. The trust is hereby authorized to engage in the foregoing activities. The Trustee shall not cause the trust to engage in any activity other than in connection with the foregoing or other than as required or authorized by the terms of this Agreement while any Certificate is outstanding, and this Section 2.8 2.10 may not be amended amended, without the consent of the Certificateholders evidencing 51% or more of the aggregate Voting Rights voting rights of the Certificates.
Appears in 26 contracts
Sources: Pooling and Servicing Agreement (Nomura Asset Acceptance Corporation, Alternative Loan Trust, Series 2006-Wf1), Pooling and Servicing Agreement (Nomura Asset Acceptance Corporation, Alternative Loan Trust, Series 2006-Ar2), Pooling and Servicing Agreement (Nomura Home Equity Loan, Inc., Home Equity Loan Trust, Series 2006-Fm2)
Purpose and Powers of the Trust. (a) The purpose of the common law trust, as created hereunder, is to engage in the following activities:
(ba) to acquire and hold the Mortgage Loans and the other assets of the Trust Fund Estate and the proceeds therefrom;
(cb) to issue the Certificates sold to the Depositor in exchange for the Mortgage Loans;
(dc) to make payments on the Certificates;
(ed) to engage in those activities that are necessary, suitable or convenient to accomplish the foregoing or are incidental thereto or connected therewith; and
(fe) subject to compliance with this Agreement, to engage in such other activities as may be required in connection with conservation of the Trust Fund Estate and the making of distributions to the Certificateholders. The trust is hereby authorized to engage in the foregoing activities. The Neither the Trustee nor the Securities Administrator shall not cause the trust to engage in any activity other than in connection with the foregoing or other than as required or authorized by the terms of this Agreement (or those ancillary thereto) while any Certificate is outstanding, and this Section 2.8 2.10 may not be amended amended, without the consent of the Certificateholders evidencing 51% or more of the aggregate Voting Rights voting rights of the Certificates.
Appears in 19 contracts
Sources: Pooling and Servicing Agreement (Banc of America Funding Corp), Pooling and Servicing Agreement (Banc of America Funding Corp), Pooling and Servicing Agreement (Banc of America Funding 2006-3 Trust)
Purpose and Powers of the Trust. (a) The purpose of the common law trust, as created hereunder, is to engage in the following activities:
(ba) acquire and hold the Mortgage Loans and the other assets of the Trust Fund and the proceeds therefrom;
(cb) to issue the Certificates sold to the Depositor in exchange for the Mortgage Loans;
(dc) to make payments on the Certificates;
(ed) to engage in those activities that are necessary, suitable or convenient to accomplish the foregoing or are incidental thereto or connected therewith; and
(fe) subject to compliance with this Agreement, to engage in such other activities as may be required in connection with conservation of the Trust Fund and the making of distributions to the Certificateholders. The trust is hereby authorized to engage in the foregoing activities. The Trustee shall not cause the trust to engage in any activity other than in connection with the foregoing or other than as required or authorized by the terms of this Agreement (or those ancillary thereto) while any Certificate is outstanding, and this Section 2.8 2.10 may not be amended amended, without the consent of the Certificateholders evidencing 51% or more of the aggregate Voting Rights voting rights of the Certificates.
Appears in 14 contracts
Sources: Pooling and Servicing Agreement, Pooling and Servicing Agreement (ACE Securities Corp. Home Equity Loan Trust, Series 2006-Asap4), Pooling and Servicing Agreement (ACE Securities Corp. Home Equity Loan Trust, Series 2006-Cw1)
Purpose and Powers of the Trust. (a) The purpose of the common law trust, as created hereunder, is to engage in the following activities:
(bi) acquire and hold the Mortgage Loans and the other assets of the Trust Fund and the proceeds therefrom;
(cii) to issue the Certificates sold to or at the direction of the Depositor in exchange for the Mortgage Loans;
(diii) to make payments on the Certificates;
(eiv) to engage in those activities that are reasonably necessary, suitable or convenient to accomplish the foregoing or are incidental thereto or connected therewith; and
(fv) subject to compliance with this Agreement, to engage in such other activities as may be required in connection with conservation of the Trust Fund and the making of distributions to the Certificateholders. The trust is hereby authorized to engage in the foregoing activities. The Trustee shall not cause the trust to engage in any activity other than in connection with the foregoing or other than as required or authorized by the terms of this Agreement while any Certificate is outstanding, and this Section 2.8 may not be amended without the consent of the Certificateholders evidencing 51% or more of the aggregate Voting Rights of the Certificates.
Appears in 11 contracts
Sources: Pooling and Servicing Agreement (PHHMC Series 2007-6 Trust), Pooling and Servicing Agreement (PHHMC Series 2007-5 Trust), Pooling and Servicing Agreement (PHHMC Series 2007-4 Trust)
Purpose and Powers of the Trust. (a) The purpose of the common law trust, as created hereunder, is to engage in the following activities:
(ba) acquire and hold the Mortgage Loans and the other assets of the Trust Fund and the proceeds therefrom;
(cb) to issue the Certificates sold to the Depositor in exchange for the Mortgage Loans;
(dc) to make payments on the Certificates;
(ed) to engage in those activities that are necessary, suitable or convenient to accomplish the foregoing or are incidental thereto or connected therewith; and
(fe) subject to compliance with this Agreement, to engage in such other activities as may be required in connection with the conservation of the Trust Fund and the making of distributions to the Certificateholders. The trust is hereby authorized to engage in the foregoing activities. The Trustee shall not cause the trust to engage in any activity other than in connection with the foregoing or other than as required or authorized by the terms of this Agreement (or those ancillary thereto) while any Certificate is outstanding, and this Section 2.8 2.10 may not be amended amended, without the consent of the Certificateholders evidencing 51% or more of the aggregate Voting Rights voting rights of the Certificates.
Appears in 10 contracts
Sources: Pooling and Servicing Agreement (ACE Securities Corp. Home Equity Loan Trust, Series 2007-He5), Pooling and Servicing Agreement (ACE Securities Corp. Home Equity Loan Trust, Series 2007-He2), Pooling and Servicing Agreement (ACE Securities Corp. Home Equity Loan Trust, Series 2006-Sd3)
Purpose and Powers of the Trust. (a) The purpose of the common law trust, as created hereunder, is to engage in the following activities:
(ba) to acquire and hold the Mortgage Loans and the other assets of the Trust Fund Estate and the proceeds therefrom;
(cb) to issue the Certificates sold to the Depositor in exchange for the Mortgage Loans;
(dc) to make payments on the Certificates;
(ed) to engage in those activities that are necessary, suitable or convenient to accomplish the foregoing or are incidental thereto or connected therewith; and
(fe) subject to compliance with this Agreement, to engage in such other activities as may be required in connection with conservation of the Trust Fund Estate and the making of distributions to the Certificateholders. The trust is hereby authorized to engage in the foregoing activities. The Trustee shall not cause the trust to engage in any activity other than in connection with the foregoing or other than as required or authorized by the terms of this Agreement (or those ancillary thereto) while any Certificate is outstanding, and this Section 2.8 2.10 may not be amended amended, without the consent of the Certificateholders evidencing 51% or more of the aggregate Voting Rights voting rights of the Certificates.
Appears in 4 contracts
Sources: Pooling and Servicing Agreement (Banc of America Funding 2006-E Trust), Pooling and Servicing Agreement (Banc of America Funding Corp), Pooling and Servicing Agreement (Banc of America Funding 2007-E Trust)
Purpose and Powers of the Trust. (a) The purpose of the common law trust, as created hereunder, is to engage in the following activities:
(ba) to acquire and hold the Mortgage Loans and the other assets of the Trust Fund Estate and the proceeds therefrom;
(cb) to issue the Certificates sold to the Depositor in exchange for the Mortgage Loans;
(dc) to make payments on the Certificates;
(ed) to engage in those activities that are necessary, suitable or convenient to accomplish the foregoing or are incidental thereto or connected therewith; and
(fe) subject to compliance with this Agreement, to engage in such other activities as may be required in connection with conservation of the Trust Fund Estate and the making of distributions to the Certificateholders. The trust is hereby authorized to engage in the foregoing activities. The Neither the Trustee nor the Securities Administrator shall not cause the trust to engage in any activity other than in connection with the foregoing or other than as required or authorized by the terms of this Agreement (or those ancillary thereto) while any Certificate is outstanding, and this Section 2.8 2.10 may not be amended without the consent of the Certificateholders evidencing 51% or more of the aggregate Voting Rights voting rights of the Certificates.
Appears in 3 contracts
Sources: Pooling and Servicing Agreement, Pooling and Servicing Agreement (Banc of America Funding 2006-5 Trust), Pooling and Servicing Agreement (Banc of America Funding 2006-6 Trust)
Purpose and Powers of the Trust. (a) The purpose of the common law trust, as created hereunder, is to engage in the following activities:
(ba) acquire and hold the Mortgage Loans and the other assets of the Trust Fund and the proceeds therefrom;
(cb) to issue the Certificates sold to the Depositor in exchange for the Mortgage Loans;
(dc) to make payments on the Certificates;
(ed) to engage in those activities that are necessary, suitable or convenient to accomplish the foregoing or are incidental thereto or connected therewith; and
(fe) subject to compliance with this Agreement, to engage in such other activities as may be required in connection with the conservation of the Trust Fund and the making of distributions to the Certificateholders. The trust is hereby authorized to engage in the foregoing activities. The Trustee shall not cause the trust to engage in any activity other than in connection with the foregoing or other than as required or authorized by the terms of this Agreement (or those ancillary thereto) while any Certificate is outstanding, and this Section 2.8 2.11 may not be amended amended, without the consent of the Certificateholders evidencing 51% or more of the aggregate Voting Rights voting rights of the Certificates.
Appears in 3 contracts
Sources: Pooling and Servicing Agreement (ACE Securities Corp. Home Equity Loan Trust, Series 2007-Asap2), Pooling and Servicing Agreement (ACE Securities Corp. Home Equity Loan Trust, Series 2006-He4), Pooling and Servicing Agreement (ACE Securities Corp. Home Equity Loan Trust, Series 2006-He4)
Purpose and Powers of the Trust. (a) The purpose of the common law trust, as created hereunder, is to engage in the following activities:
(ba) acquire and hold the Mortgage Loans and the other assets of the Trust Fund and the proceeds therefrom;
(cb) to issue the Certificates sold to the Depositor in exchange for the Mortgage Loans;
(dc) to make payments on the Certificates;
(ed) to engage in those activities that are necessary, suitable or convenient to accomplish the foregoing or are incidental thereto or connected therewith; and
(fe) subject to compliance with this Agreement, to engage in such other activities as may be required in connection with conservation of the Trust Fund and the making of distributions to the Certificateholders. The trust is hereby authorized to engage in the foregoing activities. The Trustee shall not cause the trust to engage in any activity other than in connection with the foregoing or other than as required or authorized by the terms of this Agreement while any Certificate is outstanding, and this Section 2.8 may not be amended amended, without the consent of the Certificateholders evidencing 51% or more of the aggregate Voting Rights voting rights of the Certificates.
Appears in 2 contracts
Sources: Pooling and Servicing Agreement (Deutsche Mortgage Securities Inc), Pooling and Servicing Agreement (Deutsche Alt-a Securities Inc)
Purpose and Powers of the Trust. (a) The purpose of the common law trust, as created hereunder, is to engage in the following activities:
(ba) acquire and hold the Loans and the other assets of the Trust Fund and the proceeds therefrom;
(cb) to issue the Certificates sold to the Depositor in exchange for the Loans;
(dc) to make payments on the Certificates;
(ed) to engage in those activities that are necessary, suitable or convenient to accomplish the foregoing or are incidental thereto or connected therewith; and
(fe) subject to compliance with this Agreement, to engage in such other activities as may be required in connection with conservation of the Trust Fund and the making of distributions to the Certificateholders. The trust is hereby authorized to engage in the foregoing activities. The Trustee shall not cause the trust to engage in any activity other than in connection with the foregoing or other than as required or authorized by the terms of this Agreement while any Certificate is outstanding, and this Section 2.8 may not be amended without the consent of the Certificateholders evidencing 51% or more of the aggregate Voting Rights of the Certificates.
Appears in 2 contracts
Sources: Pooling and Servicing Agreement (Deutsche Alt-a Securities Mortgage Loan Trust, Series 2007-Ar2), Pooling and Servicing Agreement (Deutsche Alt-a Securities Mortgage Loan Trust, Series 2007-Ar2)
Purpose and Powers of the Trust. (a) The purpose of the common law trust, as created hereunder, is to engage in the following activities:
(ba) acquire and hold the Mortgage Loans and the other assets of the Trust Fund and the proceeds therefrom;
(cb) to issue the Certificates sold to the Depositor in exchange for the Mortgage Loans;
(dc) to make payments on the Certificates;
(ed) to engage in those activities that are necessary, suitable or convenient to accomplish the foregoing or are incidental thereto or connected therewith; and
(fe) subject to compliance with this Agreement, to engage in such other activities as may be required in connection with the conservation of the Trust Fund and the making of distributions to the Certificateholders. The trust is hereby authorized to engage in the foregoing activities. The Trustee shall not cause the trust to engage in any activity other than in connection with the foregoing or other than as required or authorized by the terms of this Agreement (or those ancillary thereto) while any Certificate is outstanding, and this Section 2.8 2.10 may not be amended amended, without the consent of the Certificateholders evidencing 51% or more of the aggregate Voting Rights voting rights of the CertificatesCertificates and the Certificate Insurer.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (ACE Securities Corp. Home Equity Loan Trust, Series 2007-Sl2)
Purpose and Powers of the Trust. (a) The purpose of the common law trust, as created hereunder, is to engage in the following activities:
(ba) acquire and hold the Loans and the other assets of the Trust Fund and the proceeds therefrom;
(cb) to issue the Certificates sold to the Depositor in exchange for the Loans;
(dc) to make payments on the Certificates;
(ed) to engage in those activities that are necessary, suitable or convenient to accomplish the foregoing or are incidental thereto or connected therewith; and
(fe) subject to compliance with this Agreement, to engage in such other activities as may be required in connection with conservation of the Trust Fund and the making of distributions to the Certificateholders. The trust is hereby authorized to engage in the foregoing activities. The Trustee shall not cause the trust to engage in any activity other than in connection with the foregoing or other than as required or authorized by the terms of this Agreement while any Certificate is outstanding, and this Section 2.8 may not be amended amended, without the consent of the Certificateholders evidencing 51% or more of the aggregate Voting Rights voting rights of the Certificates.
Appears in 1 contract
Purpose and Powers of the Trust. (a) The purpose of the common law trust, as created hereunder, is to engage in the following activities:
(ba) acquire and hold the Mortgage Loans and the other assets of the Trust Fund and the proceeds therefrom;
(cb) to issue the Certificates sold to the Depositor in exchange for the Mortgage Loans;
(dc) to make payments on the Certificates;
(ed) to engage in those activities that are necessary, suitable or convenient to accomplish the foregoing or are incidental thereto or connected therewith; and
(fe) subject to compliance with this Agreement, to engage in such other activities as may be required in connection with conservation of the Trust Fund and the making of distributions to the Certificateholders. The trust is hereby authorized to engage in the foregoing activities. The Trustee shall not cause the trust to engage in any activity other than in connection with the foregoing or other than as required or authorized by the terms of this Agreement (or those ancillary thereto) while any Certificate is outstanding, and this Section 2.8 2.11 may not be amended amended, without the consent of the Certificateholders evidencing 51% or more of the aggregate Voting Rights voting rights of the Certificates.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (ACE Securities Corp. Home Equity Loan Trust, Series 2007-He4)
Purpose and Powers of the Trust. (a) The purpose of the common law trust, as created hereunder, is to engage in the following activities:
(ba) acquire and hold the Mortgage Loans and the other assets of the Trust Fund and the proceeds therefrom;
(cb) to issue the Certificates sold to the Depositor in exchange for the Mortgage Loans;
(dc) to make payments on the Certificates;
(ed) to engage in those activities that are necessary, suitable or convenient to accomplish the foregoing or are incidental thereto or connected therewith; and
(fe) subject to compliance with this Agreement, to engage in such other activities as may be required in connection with conservation of the Trust Fund and the making of distributions to the Certificateholders. The trust is hereby authorized to engage in the foregoing activities. The Trustee shall not cause the trust to engage in any activity other than in connection with the foregoing or other than as required or authorized by the terms of this Agreement while any Certificate is outstanding, and this Section 2.8 2.10 may not be amended amended, without the consent of the Certificateholders evidencing 51% or more of the aggregate Voting Rights voting rights of the CertificatesCertificates and the consent of the Certificate Insurer.
Appears in 1 contract
Purpose and Powers of the Trust. (a) The purpose of the common law trust, as created hereunder, is to engage in the following activities:
(ba) acquire and hold the Mortgage Loans and the other assets of the Trust Fund and the proceeds therefrom;
(cb) to issue the Certificates sold to the Depositor in exchange for the Mortgage Loans;
(dc) to make payments on the Certificates;
(ed) to engage in those activities that are necessary, suitable or convenient to accomplish the foregoing or are incidental thereto or connected therewith; and
(fe) subject to compliance with this Agreement, to engage in such other activities as may be required in connection with conservation of the Trust Fund and the making of distributions to the Certificateholders. The trust is hereby authorized to engage in the foregoing activities. The Trustee shall not cause the trust to engage in any activity other than in connection with the foregoing or other than as required or authorized by the terms of this Agreement while any Certificate is outstanding, and this Section 2.8 2.10 may not be amended amended, without the consent of the Certificateholders evidencing 51% or more of the aggregate Voting Rights voting rights of the Certificates.
ARTICLE III ADMINISTRATION AND SERVICING OF THE MORTGAGE LOANS; ACCOUNTS
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Ace Securities Corp. Home Equity Loan Trust, Series 2006-Nc1)
Purpose and Powers of the Trust. (a) The purpose of the common law trust, as created hereunder, is to engage in the following activities:
(ba) acquire and hold the Mortgage Loans and the other assets of the Trust Fund and the proceeds therefrom;
(cb) to issue the Certificates sold to the Depositor in exchange for the Mortgage Loans;
(dc) to make payments on the Certificates;
(ed) to engage in those activities that are necessary, suitable or convenient to accomplish the foregoing or are incidental thereto or connected therewith; and
(fe) subject to compliance with this Agreement, to engage in such other activities as may be required in connection with conservation of the Trust Fund and the making of distributions to the Certificateholders. The trust Trust is hereby authorized to engage in the foregoing activities. The Trustee shall not cause the trust Trust to engage in any activity other than in connection with the foregoing or other than as required or authorized by the terms of this Agreement (or those ancillary thereto) while any Certificate is outstanding, and this Section 2.8 2.10 may not be amended amended, without the consent of the Certificateholders evidencing 51% or more of the aggregate Voting Rights voting rights of the Certificates.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (ACE Securities Corp. Home Equity Loan Trust, Series 2006-Op2)