Common use of Securitization Trustee Clause in Contracts

Securitization Trustee. If for any reason the Reserve Fund is no longer an Eligible Account, the 1998-C Securitization Trustee shall promptly cause the Reserve Fund to be moved to another institution or otherwise changed so that the Reserve Fund becomes an Eligible Account. All amounts held in the Reserve Fund shall be invested by the 1998-C Securitization Trustee, as directed in writing by the Servicer pursuant to Section 4.02(j) of the 1998-C SUBI Servicing Supplement, in Permitted Investments. Earnings on investment of funds in the Reserve Fund shall be paid to the Transferor on each Monthly Allocation Date, subject to Section 3.01(h)(ii), and losses and any investment expenses shall be charged against the funds on deposit therein. The 1998-C Securitization Trustee shall incur no liability for the selection of investments or for losses thereon absent its own negligence or willful misfeasance. The 1998-C Securitization Trustee shall have no liability in respect of losses incurred as a result of the liquidation of any investment prior to its stated maturity date or the failure of the Servicer to provide timely written investment directions.