Common use of Investor Certificates Nonassessable and Fully Paid Clause in Contracts

Investor Certificates Nonassessable and Fully Paid. It is the intention of the parties to this Agreement that, to the extent permitted by law, the Certificateholders shall not be personally liable for obligations of the Trust, that the Fractional Undivided Interests represented by the Certificates shall be nonassessable for any losses or expenses of the Trust or for any reason whatsoever, and that Certificates upon authentication thereof by the Trustee pursuant to Sections 2.02 and 6.03 and payment therefor at time of issuance are and shall be deemed fully paid.

Investor Certificates Nonassessable and Fully Paid. It is the intention of the parties to this each Pooling and Servicing Agreement that, to that the extent permitted by law, the Investor Certificateholders shall not be personally liable for obligations of the Trust, that the Fractional Undivided Interests interests in the Trust represented by the Investor Certificates shall be nonassessable for any losses or expenses of the Trust or for any reason whatsoever, whatsoever and that Investor Certificates upon authentication thereof by the Trustee pursuant to Sections 2.02 and 6.03 and payment therefor at time of issuance Section 5.02 are and shall be deemed fully paid.

Investor Certificates Nonassessable and Fully Paid. It is the intention of the parties to this each Pooling and Servicing Agreement thatthat the Investor Certificateholders (and, to the extent permitted by lawif applicable, the Certificateholders Letter of Credit Banks and the Liquidity Banks) shall not be personally liable for obligations of the Trust, that the Fractional Undivided Interests interests in the Trust represented by the Investor Certificates shall be nonassessable for any losses or expenses of the Trust or for any reason whatsoever, whatsoever and that Investor Certificates upon authentication thereof by the Trustee pursuant to Sections 2.02 and 6.03 and payment therefor at time of issuance Section 5.02 are and shall be deemed fully paid.

Investor Certificates Nonassessable and Fully Paid. It is the intention of the The parties to this Agreement that, to the extent permitted by law, agree that the Certificateholders shall not be personally liable for obligations of the Trust, that the Fractional Undivided Interests beneficial ownership interests represented by the Investor Certificates shall be nonassessable for any losses or expenses of the Trust or for any reason whatsoever, whatsoever and that the Investor Certificates upon execution, authentication and delivery thereof by the Trustee pursuant to Sections 2.02 and 6.03 and payment therefor at time of issuance Section 2.08 or 6.02 are and shall be deemed fully full paid.

Investor Certificates Nonassessable and Fully Paid. It is the intention of the The parties to this Agreement that, to the extent permitted by law, agree that the Certificateholders shall not be personally liable for obligations of the Trust, that the Fractional Undivided Interests beneficial ownership interests represented by the Investor Certificates shall be nonassessable for any losses or expenses of the Trust or for any reason whatsoever, and that the Investor Certificates upon execution, authentication and delivery thereof by the Trustee pursuant to Sections 2.02 and 6.03 and payment therefor at time of issuance Section 2.08 or 6.02 are and shall be deemed fully full paid.