Ord 1992-033 - Laserfiche WebLink

Home Browse Search

(b) Ameritrust shall in no event be liable to the Issuer, any Owner or Owners or any other Person for any amount due on any Obligation except as otherwise expressly provided herein with respect to the liability of Ameritrust for its duties hereunder. Section 5.04. May Hold Obliqations. Ameritrust, in its individual or any other capacity, may become an Owner or pledgee of Obligations and may otherwise deal with the Issuer with the same rights it would have if it were not the Paying Agent/Registrar, or any other agent. Section 5.05. Money Held by Ameritrust. (a) Money held by Ameritrust hereunder need not be segregated from any other funds provided appropriate accounts are maintained. (b) Ameritrust shall be under no liability for interest on any money received by it hereunder. (c) Subject to any escheat, unclaimed property or similar law, any money deposited with Ameritrust for the payment of the principal, premium, if any, or interest on any Obligation and remaining unclaimed for three years after the applicable payment or redemption date shall be applied to the next payment or payments on the Obligations thereafter corning due, and, to the extent any such money remains after the retirement of all outstanding Obligations, will be paid by Ameritrust to the Issuer and the Owner of such Obligation shall thereafter look only to the Issuer for payment thereof, and all liability of Ameritrust with respect to such monies shall thereupon cease. Section 5.06. Indemnification. To the extent permitted by law, the Issuer agrees to indemnify Ameritrust, its officers, directors, employees and agents for, and hold them harmless against, any loss, liability or expense incurred without negligence or bad faith on their part, arising out of or in connection with its acceptance or administration of Ameritrust's duties hereunder, including the cost and expense, including its counsel fees, of defending itself against any claim or liability in connection with the exercise or performance of any of its powers or duties under this Agreement. Section 5.07. Interpleader. The Issuer and Ameritrust agree that Ameritrust may seek adjudication of any adverse claim, demands or controversy over its persons as well as funds on deposit in either the District Court for Travis County, Texas, or the United States Federal District Court for the Western District of Texas; waive personal service of any process; and agree that service of process by certified or registered mail, return receipt requested, to the address set forth 4329f -9-