Common use of Purposes and Powers of the Trust Clause in Contracts

Purposes and Powers of the Trust. The purpose of the common law trust, created hereunder (the “Trust”), is to engage in the following activities: (a) acquire and hold the Mortgage Loans and the other assets of the Trust Fund and the proceeds therefrom for the benefit of the Certificateholders; (b) to issue the Certificates sold to the Depositor in exchange for the Mortgage Loans and the other assets of the Trust Fund; (c) to make distributions on the Certificates; (d) to engage in those activities that are necessary, suitable or convenient to accomplish the foregoing or are incidental thereto or connected therewith; and (e) 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 Trust shall not 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.

Appears in 24 contracts

Sources: Pooling and Servicing Agreement, Pooling and Servicing Agreement, Pooling and Servicing Agreement (Bear Stearns Mortgage Funding Trust 2007-Sl2)

Purposes and Powers of the Trust. The purpose of the common law trust, as created hereunder (the “Trust”)hereunder, is to engage in the following activities: (a) acquire and hold hold, as set forth in this Agreement, the Mortgage Loans and the other assets of the Trust Fund and the proceeds therefrom for the benefit of the Certificateholders; (b) to issue the Certificates sold to the Depositor in exchange for the Mortgage Loans and the any other assets of the Trust FundTrust; (c) to make distributions on the Certificates; (d) to engage in those activities that are necessary, suitable or convenient to accomplish the foregoing or are incidental thereto or connected therewith; and (e) 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 Neither the Trustee nor the Master Servicer shall cause the Trust shall not 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.

Appears in 20 contracts

Sources: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2007-He6), Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2007-He3), Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2007-He5)

Purposes and Powers of the Trust. The purpose of the common law trust, as created hereunder (the “Trust”)hereunder, is to engage in the following activities: (a) acquire and hold the Mortgage Loans and the other assets of the Trust Fund and the proceeds therefrom for the benefit of the Certificateholderstherefrom; (b) to issue the Certificates sold to the Depositor in exchange for the Mortgage Loans and the other assets of the Trust FundLoans; (c) to make distributions payments on the Certificates; (d) to engage in those activities that are necessary, suitable or convenient to accomplish the foregoing or are incidental thereto or connected therewith; and (e) 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 Trust 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 2.08 may not be amended, without the consent of the Certificateholders evidencing 51% or more of the aggregate voting rights of the Certificates.

Appears in 18 contracts

Sources: Pooling and Servicing Agreement (Bear Stearns Mortgage Funding Trust 2007-Ar5), Pooling and Servicing Agreement (Bear Stearns Mortgage Funding Trust 2007-Ar2), Pooling and Servicing Agreement (Bear Stearns Mortgage Funding Trust 2006-Ar4)

Purposes and Powers of the Trust. The purpose of the common law trust, as created hereunder (the “Trust”)hereunder, is to engage in the following activities: (ai) to acquire and hold the Mortgage Loans and the other assets of the Trust Fund and the proceeds therefrom for the benefit of the Certificateholderstherefrom; (bii) to issue the Certificates sold to the Depositor in exchange for the Mortgage Loans and the other assets of the Trust FundLoans; (ciii) to make distributions payments on the Certificates; (div) to engage in those activities that are necessary, suitable or convenient to accomplish the foregoing or are incidental thereto or connected therewith; and (ev) 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 Trust Trustee and the Servicer 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 2.10 may not be amended, without the consent of the Certificateholders evidencing 66 2/3% or more of the aggregate Voting Rights of the Certificates.

Appears in 4 contracts

Sources: Pooling and Servicing Agreement (IndyMac Residential Mortgage-Backed Trust, Series 2006-L4), Pooling and Servicing Agreement (IndyMac Residential Mortgage-Backed Trust, Series 2006-L3), Pooling and Servicing Agreement (IndyMac Residential Mortgage-Backed Trust, Series 2006-L3)

Purposes and Powers of the Trust. The purpose of the common law trust, as created hereunder (the “Trust”)hereunder, is to engage in the following activities: (a) acquire and hold hold, as set forth in this Agreement, the Mortgage Loans and the other assets of the Trust Fund and the proceeds therefrom for the benefit of the Certificateholders; (b) to issue the Certificates sold to the Depositor in exchange for the Mortgage Loans and the any other assets of the Trust Fund; (c) to make distributions on the Certificates; (d) to engage in those activities that are necessary, suitable or convenient to accomplish the foregoing or are incidental thereto or connected therewith; and (e) 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 Trust shall not 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.

Appears in 2 contracts

Sources: Pooling and Servicing Agreement (Prime Mortgage Trust 2006-Cl1), Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2006-He3)

Purposes and Powers of the Trust. The purpose of the common law trust, as created hereunder (the “Trust”)hereunder, is to engage in the following activities: (a) to acquire and hold the Mortgage Loans and the other assets of the Trust Fund and the proceeds therefrom for the benefit of the Certificateholderstherefrom; (b) to issue the Certificates sold to the Depositor in exchange for the Mortgage Loans and the other assets of the Trust FundLoans; (c) to make distributions payments on the Certificates; (d) to engage in those activities that are necessary, suitable or convenient to accomplish the foregoing or are incidental thereto or connected therewith; and (e) 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 CertificateholdersCertificateholders and the Certificate Insurer. The Trust is hereby authorized to engage in the foregoing activities. The Trust Trustee and the Servicer 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 2.10 may not be amended, without the consent of the Certificateholders evidencing 66 2/3% or more of the aggregate Voting Rights of the Certificates.

Appears in 2 contracts

Sources: Pooling and Servicing Agreement (Home Equity Mortgage Loan Asset-Backed Trust, Series INDS 2007-2), Pooling and Servicing Agreement (Home Equity Mortgage Loan Asset-Backed Trust, Series INDS 2007-1)

Purposes and Powers of the Trust. The purpose of the common law trust, created hereunder trust (the “Trust”), as created hereunder, is to engage in the following activities: (a) acquire and hold hold, as set forth in this Agreement, the Mortgage Loans and the other assets of the Trust Fund and the proceeds therefrom for the benefit of the Certificateholders; (b) to issue the Certificates sold to the Depositor in exchange for the Mortgage Loans and the any other assets of the Trust Fund; (c) to make distributions on the Certificates; (d) to engage in those activities that are necessary, suitable or convenient to accomplish the foregoing or are incidental thereto or connected therewith; and (e) 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 Trust shall not 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.

Appears in 1 contract

Sources: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2006-He4)

Purposes and Powers of the Trust. The purpose of the common law trust, as created hereunder (the “Trust”)hereunder, is to engage in the following activities: (ai) acquire and hold hold, as set forth in this Agreement, the Mortgage Loans and the other assets of the Trust Fund and the proceeds therefrom for the benefit of the Certificateholders; (bii) to issue the Certificates sold to the Depositor in exchange for the Mortgage Loans and the other assets of the Trust FundLoans; (ciii) to make distributions on the Certificates; (div) to engage in those activities that are necessary, suitable or convenient to accomplish the foregoing or are incidental thereto or connected therewith; and (ev) 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 Trust 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 2.07 may not be amended, without the consent of the Certificateholders evidencing 51% or more of the aggregate voting rights of the Certificates.

Appears in 1 contract

Sources: Pooling and Servicing Agreement (Opteum Mortgage Acceptance CORP Trust 2006-1)