Common use of Issuer Obligation Clause in Contracts

Issuer Obligation. No recourse may be taken, directly or indirectly, for the obligations of the Issuer or the Owner Trustee under this Agreement or a document delivered under this Agreement, against (a) the Owner Trustee in its individual capacity, (b) any holder of a beneficial interest in the Issuer, (c) any partner, owner, beneficiary, officer, director, employee or agent of the Owner Trustee, in its individual capacity or (d) any holder of a beneficial interest in the Owner Trustee, in its individual capacity, except as that Person may have expressly agreed.

Issuer Obligation. No recourse may be taken, directly or indirectly, for with respect to the obligations of the Issuer on the Notes or the Owner Trustee under this Agreement Indenture or a document any certificate or other writing delivered under this Agreementin connection herewith or therewith, against (ai) the Owner Trustee in its individual capacity, (b) Residual Interestholder or any other holder of a beneficial interest in the Issuer, Issuer or any REO Subsidiary or (cii) any partner, owner, member, manager, beneficiary, agent, officer, director, employee or agent of the Owner Trustee, in its individual capacity Residual Interestholder or (d) any other holder of a beneficial interest in the Owner Trustee, in its individual capacity, except as that Person may have expressly agreedIssuer.