By the Manager. Unless the Affiliate requests and is approved by the Manager as a Substitute Member, an unauthorized Affiliate shall have only the Economic Interest of the former Member.
By the Manager. 14.2.1 The Manager, in its capacity as the Manager, agrees to, and hereby does, indemnify and hold harmless the Owner, the Indenture Trustee (for the benefit of the Noteholders), any Series Enhancer, any Hedge Counterparty, the Deal Agents (as such term is defined in the Note Purchase Agreement), the Liquidity Agents (as such term is defined in the Note Purchase Agreement), the Purchasers (as such term is defined in the Note Purchase Agreement), the Administrative Agent and their respective officers, directors, employees and agents (each of the foregoing, an “Indemnified Party”) against any and all liabilities, losses, damages, penalties, costs and expenses which may be incurred or suffered by such Indemnified Party (except to the extent caused by the gross negligence or willful misconduct on the part of the Indemnified Party) as a result of claims, actions, suits or judgments asserted or imposed against an Indemnified Party and arising out of (i) an action or inaction by the Manager that is contrary to the Servicing Standard or otherwise in violation of the terms of this Agreement; or (ii) any breach of or any inaccuracy in any representation or warranty made by the Manager in this Agreement or in any certificate delivered by the Manager pursuant hereto; or (iii) any breach of or failure by the Manager to perform any covenant or obligation of the Manager set out or contemplated in this Agreement; (iv) personal injury or property damage claim arising out of or in connection with the negligence of the Manager; or (v) any defense, setoff or counterclaim arising out of any negligence of the Manager or any acts or omissions of the Manager related to the performance hereunder of its duties with respect to the Managed Containers; provided however, that the foregoing indemnity shall in no way be deemed to impose on the Manager any obligation to reimburse an Indemnified Party for: (A) losses arising from the financial inability of the related obligor on a Lease Agreement to make the payments due thereunder or because the Leases otherwise are uncollectible, or (B) losses arising from the failure of the remarketing proceeds of the Managed Containers to achieve historical or projected levels for reasons other than the Manager’s failure to comply with the terms of this Agreement. The provisions of this Section 14.2 shall run directly to and be enforceable by an injured party, subject to the limitations hereof. The obligations of the Manager under this Section 14.2 sha...
By the Manager. This Agreement shall not be assigned, in whole or in part, by the Manager, unless such assignment is consented to in writing by the Company with the Approval of the Independent Trustees. Any such permitted assignment shall bind the assignee under this Agreement in the same manner as the Manager is bound. In addition, the assignee shall execute and deliver to the Company a counterpart of this Agreement naming such assignee as the Manager. Notwithstanding the foregoing, the Manager may delegate, assign, subcontract or subservice to one or more of its Affiliates the performance of, or cause one or more of its Affiliates to perform, any of its responsibilities hereunder so long as it remains liable for any such Affiliate's performance. Nothing contained in this Agreement shall preclude any pledge, hypothecation or other transfer of any amounts payable to the Manager under this Agreement.
By the Manager. This Agreement may be amended by the Manager without the consent or approval of any other Member if (i) the amendment is solely for the purpose of clarification and does not change the substance of this Agreement, and the Company has obtained the opinion of its attorneys to that effect, (ii) in the opinion of the Company's attorneys the amendment is necessary or appropriate to satisfy requirements of the Code or of any Federal or state securities laws or regulations, and the amendment does not adversely affect the interests of the other Members, or (iii) as is necessary to make the Company a so-called “single purpose entity” and/or “bankruptcy remote,” to the extent required by any institutional lender in connection with a loan to the Company. Any amendment made pursuant to this Section may, at the option of the Manager, be effective as of the date of this Agreement. The Manager shall provide the Members with prior written notice of any amendment to be made pursuant to this Section.
By the Manager. If the Association, Board or the Members unreasonably interfere with the Manager to perform its duties and obligations under this Agreement, the Board retains the right to cancel this agreement without penalty and without notice.