Compliance with law and Transaction Documents. The Pool Services shall include procuring (insofar as the Servicer having used its reasonable endeavours is able to do so) compliance by the CBC with all applicable legal requirements and with the terms of the Transaction Documents to which the CBC is a party, provided always that the Servicer shall not lend or provide any sum to the CBC (other than as expressly contemplated by this Agreement or any of the other Transaction Documents), and that the Servicer shall have no liability whatsoever to the CBC, the Security Trustee, the Covered Bondholders or any other person for any failure by the CBC to make any payment due by the CBC under any Transaction Document unless such failure by the CBC results from a failure due to fraud, gross negligence or wilful misconduct by the Servicer to perform any of the Servicer's obligations under this Agreement or any of the other Transaction Documents.
Compliance with law and Transaction Documents. The CBC Services shall include procuring (insofar as the Administrator having used its reasonable endeavours is able to do so) compliance by the CBC with all applicable legal requirements and with the terms of the Transaction Documents to which the CBC is a party, provided always that the Administrator shall not lend or provide any sum to the CBC (other than as expressly contemplated by this Agreement or any of the other Transaction Documents), and that the Administrator shall have no liability whatsoever to the CBC, the Security Trustee, the Covered Bondholders or any other person for any failure by the CBC to make any payment due by it under any Transaction Document unless such failure by the CBC results from a failure due to fraud, gross negligence, willful misconduct or negligence in any material respect by the Administrator to perform any of its obligations under this Agreement or any of the other Transaction Documents.
Compliance with law and Transaction Documents. The CBC Services shall include procuring (insofar as the Administrator having used its reasonable endeavours is able to do so) compliance by the CBC with all applicable legal requirements and with the terms of the Transaction Documents to which the CBC is a party, provided always that the Administrator shall not lend or provide any sum to the CBC (other than as expressly contemplated by this Agreement or any of the other Transaction Documents), and that the Administrator shall have no liability whatsoever to the CBC, the Security Trustee, the Covered Bondholders or any other person for any failure by the CBC to make any payment due by the CBC under any Transaction Document unless such failure by the CBC results from a failure due to fraud, gross negligence, willful misconduct or negligence in any material respect by the Administrator to perform any of its obligations under this Agreement or any of the other Transaction Documents. Sub-agents and sub-administrators
Compliance with law and Transaction Documents. The CBC Services shall include procuring (insofar as the Administrator, having used its reasonable endeavours, is able to do so) compliance by the CBC with all applicable legal requirements and with the terms of the Transaction Documents to which the CBC is a party, provided always that the Administrator shall not lend or provide any sum to the CBC (other than as expressly contemplated by this Agreement or any of the other Transaction Documents), and that the Administrator shall have no liability whatsoever to the CBC, the Security Trustee, the Covered Bondholders or any other person for any failure by the CBC to make any payment due by it under any Transaction Document unless such failure by the CBC results from a failure due to fraud, gross negligence, willful misconduct or negligence in any material respect by the Administrator to perform any of its obligations under this Agreement or any of the other Transaction Documents. The Administrator and the CBC further agree that the Administrator shall perform the CBC Services in accordance with and subject to any applicable outsourcing rules and regulations and any instructions from the relevant supervisory authorities in relation thereto.
Compliance with law and Transaction Documents. The Authority (i) is in compliance with all laws of the United States and of the State material to its performance hereunder and with all provisions of each Transaction Document to which it is a party and (ii) has received no notice nor has it any knowledge that a material default, after any applicable notice and grace period, by the Authority exists under any material contracts, agreements or other instruments to which it is a party or by which it or any of its properties or revenues is bound.
Compliance with law and Transaction Documents. The Board (i) is in compliance with all laws of the United States and of the State material to its performance hereunder and with all provisions of each Transaction Document to which it is a party and (ii) has received no notice nor has it any knowledge that a material default, after any applicable notice and grace period, by the Board exists under any material contracts, agreements or other instruments to which it is a party or by which it or any of its properties or revenues is bound.
