Agenda - 03-02-2006-8bTA - Laserfiche WebLink

Browse Search

(b) Nat later than August 1 of each year, the Trustee will notify the LGC of the principal amount of Certificates outstanding as of the preceding Tune 30. (c} Except during the continuance of an E~rent of Default: (i) the Trustee need perform only those duties that are specifically set forth in this Trust Agreement and no other; and (ii) in the absence of bad faith on its part, the Trustee may conclusively rely, as to the truth of the statements and the correctness of the opinions expressed, upon certificates or opinions furnislled to the Trustee and conforming to the requirements of this Tnist Agreement which the Trustee actually a11d in good faith believes to be genuine and to have been signed or presented by the proper person. The Trustee, however, 111L1st examine the certificates and opinions to determine whether they conform to the requirements of this Trust Agreement. (d) The Trustee may not be relieved from liability for its Dorn negligent action, its own negligent failure to act or its own u.•illful misconduct, except that: (i) this paragraph does not limit the effect of subsection (a} above; (ii) the Trustee will not be liable with respect to any action it takes or omits to take in good faith in accordance with a direction received by it pursuant to Section 8.05; and (iii} no provision of this Trust Agreement requires the Trustee to expend or risk its own funds or otherwise incur any financial liability in the performance of any of its duties hereunder or in the exercise of any of its rights or powers, if it has reasonable grounds for believing that repayment of such fiends or adequate indemnity against such risk or liability is 11at reasonably assured to it. (e) Every provision of this Trust Agreement that in any way relates to the Trustee is subject to all the provisions of this Sectian 9.01. (f} The Trustee may refuse to perform any duty or exercise any right or power unless it receives indemnity satisfactory to it against any loss, liability or expense, but the Trustee may not require indemnity as a condition to declaring the principal and interest with respect to the Certificates to be due immediately under Sectian 8.02. No permissive right of the Trustee shall be construed as a duty. J3862v2 ~']