General Provisions Regarding Bank Accounts. (a) The Indenture Trustee will not be liable by reason of any insufficiency in any of the Bank Accounts resulting from any loss on any Permitted Investment included in the Bank Accounts, except for losses attributable to the Indenture Trustee’s failure to make payments on such Permitted Investments issued by the Indenture Trustee, in its commercial capacity as principal obligor and not as trustee. In addition, the Indenture Trustee has no duty to monitor the activities of any Qualified Institution (unless such Qualified Institution is also the Indenture Trustee) and will not be liable for the actions or inactions of any Qualified Institution (unless such Qualified Institution is also the Indenture Trustee).
Appears in 20 contracts
Samples: Indenture (Ford Credit Auto Owner Trust 2014-A), Indenture (Ford Credit Auto Owner Trust 2014-A), Indenture (Ford Credit Auto Owner Trust 2013-D)
General Provisions Regarding Bank Accounts. (a) The Indenture Trustee will not be liable by reason of any insufficiency in any of the Bank Accounts resulting from any loss on any Permitted Investment included in the Bank Accounts, except for losses attributable to the Indenture Trustee’s 's failure to make payments on such Permitted Investments issued by the Indenture Trustee, in its commercial capacity as principal obligor and not as trustee. In addition, the Indenture Trustee has no duty to monitor the activities of any Qualified Institution (unless such Qualified Institution is also the Indenture Trustee) and will not be liable for the actions or inactions of any Qualified Institution (unless such Qualified Institution is also the Indenture Trustee).
Appears in 10 contracts
Samples: Indenture (Ford Credit Auto Owner Trust 2010-B), Indenture (Ford Credit Auto Owner Trust 2010-A), Indenture (Ford Credit Auto Owner Trust 2009-B)
General Provisions Regarding Bank Accounts. (a) The Indenture Trustee will not be liable by reason of any insufficiency in any of the Bank Accounts resulting from any loss on any Permitted Investment included in the Bank Accounts, except for losses attributable to the Indenture Trustee’s failure to make payments on such the Permitted Investments issued by the Indenture Trustee, in its commercial capacity as principal obligor and not as trustee. In addition, the Indenture Trustee has no duty to monitor the activities of any Qualified Institution (unless such the Qualified Institution is also the Indenture Trustee) and will not be liable for the actions or inactions of any Qualified Institution (unless such the Qualified Institution is also the Indenture Trustee).
Appears in 8 contracts
Samples: Indenture (Ford Credit Auto Owner Trust 2015-B), Indenture (Ford Credit Auto Owner Trust 2015-B), Indenture (Ford Credit Auto Owner Trust 2015-A)
General Provisions Regarding Bank Accounts. (a) The Indenture Trustee will not be liable by reason of any insufficiency in any of the Bank Accounts resulting from any loss on any Permitted Investment included in the Bank Accounts, except for losses attributable to the Indenture Trustee’s failure to make payments on 44 such Permitted Investments issued by the Indenture Trustee, in its commercial capacity as principal obligor and not as trustee. In addition, the Indenture Trustee has no duty to monitor the activities of any Qualified Institution (unless such Qualified Institution is also the Indenture Trustee) and will not be liable for the actions or inactions of any Qualified Institution (unless such Qualified Institution is also the Indenture Trustee).
Appears in 2 contracts
Samples: Indenture (Ford Credit Auto Owner Trust 2011-B), Indenture (Ford Credit Auto Owner Trust 2011-B)