Article VII
Sect. 7.01
The respective obligations and responsibilities of the Trustee and
the Master Servicer created hereby (other than the obligation of the
Trustee to make payments to Certificateholders and the Swap Counterparty
as set forth in Section 7.02, the obligation of the Master Servicer to
make a final remittance to the Securities Administrator pursuant to
Section 4.01, the obligation of the Securities Administrator to make a
final remittance to the Trustee pursuant to Section 4.05 and the
obligations of the Master Servicer to the Trustee pursuant to Sections
9.10, 9.14 and 9.31) shall terminate on the earliest of (i) the final
payment or other liquidation of the last Mortgage Loan remaining in the
Trust Fund and the disposition of all REO Property, (ii) the sale of the
property held by the Trust Fund in accordance with Section 7.01(b) and
(iii) the Latest Possible Maturity Date; provided, however, that in no
event shall the Trust Fund created hereby continue beyond the expiration
of 21 years from the death of the last survivor of the descendants of
Joseph P. Kennedy, the late Ambassador of the United States to the Court
of St. James’s, living on the date hereof. Any termination of the
Trust Fund shall be carried out in such a manner so that the termination
of each REMIC included therein shall qualify as a “qualified
liquidation” under the REMIC Provisions.
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