Liability of Depositor. (a) The Depositor shall be liable in accordance herewith only to the extent of the obligations specifically undertaken by the Depositor under this Agreement (which shall not include distributions on account of the Notes or the Certificates).
Liability of Depositor. The Depositor, as initial holder of the Residual Interest, will have the same limitation of personal liability as stockholders of a private for profit corporation organized under the Delaware General Corporation Law.
Liability of Depositor. The Depositor shall be liable in accordance with this Agreement and the Second Step Secured Notes Assignment only to the extent of the obligations in this Agreement and the Second Step Secured Notes Assignment specifically undertaken by the Depositor.
Liability of Depositor. 44 SECTION 7.4. Merger or Consolidation of, or Assumption of the Obligations of, Depositor ............ 44 SECTION 7.5. Limitation on Liability of Depositor and Others ....................................... 45 SECTION 7.6. Ownership of the Certificates or Notes ................................................ 45
Liability of Depositor. (a) Pursuant to Section 3803(a) of the Statutory Trust Statute, the Depositor shall be liable directly to and will indemnify any injured party or any other creditor of the Trust for all losses, claims, damages, liabilities and expenses of the Trust to the extent that the Depositor would be liable if the Trust were a partnership under the Delaware Revised Uniform Limited Partnership Act in which the Depositor were a general partner; provided, however, that neither the Depositor nor the Trust Owner shall under any circumstances be liable for any losses incurred by a Noteholder in the capacity of an investor in the Notes. In addition, any third party creditors of the Trust (other than in connection with the obligations described in the immediately preceding sentence for which the Depositor and the Trust Owner shall not be liable) shall be deemed third party beneficiaries of the Depositor’s obligations under this paragraph. The obligations of the Depositor under this paragraph shall be evidenced by the Residual Interest Certificate described in Section 3.05 hereof.
Liability of Depositor. The Depositor will be liable under this Agreement only for its specific obligations under this Agreement. All other liability is expressly waived and released as a condition of, and consideration for, the execution of this Agreement by the Depositor and the issuance of the Notes. The Depositor will be liable for its willful misconduct, bad faith or negligence in performing its obligations under this Agreement.
Liability of Depositor. 24 Section 5.3 Merger, Consolidation, Succession or Assignment 25 Section 5.4 Depositor May Own Credit Extensions 25 Section 5.5 Depositor’s Authorized and Responsible Persons 25 Section 5.6 Company Existence. 26 Section 5.7 No Division 26 ARTICLE VI SERVICER AND MARKETING AGENT 26 Section 6.1 Servicer’s and Marketing Agent’s Representations and Warranties 26
Liability of Depositor. 3 Section 2.08. Title to Trust Property................................................................4 Section 2.09. Situs of Trust.........................................................................4 Section 2.10. Representations and Warranties.........................................................4 Section 2.11. Federal Income Tax Treatment...........................................................7 Section 2.12. Covenants of the Depositor and Owner...................................................7 Section 2.13. Separateness of Trust..................................................................8
Liability of Depositor. 20 Section 3.13.
Liability of Depositor. The Depositor shall be under no liability to the Certificateholders for any action taken or for refraining from the taking of any action in good faith pursuant to this Indenture or for errors in judgment, but shall be liable only for its own gross negligence, bad faith or willful misconduct. The Depositor may rely in good faith on any paper, order, notice, list, affidavit, receipt, opinion, endorsement, assignment, draft or any other document of any kind prima facie properly executed and submitted to it by the Trustee, the Evaluator, bond counsel, or any other person pursuant to this Indenture and in furtherance of their duties.
