Common use of Liability of Owner Trustee Clause in Contracts

Liability of Owner Trustee. It is expressly understood and agreed by the parties hereto that (a) this Agreement is executed and delivered by BNY Mellon Trust of Delaware, not in its individual capacity but solely as Owner Trustee of the Trust, in the exercise of the powers and authority conferred and vested in it under the Trust Agreement, (b) each of the representations, undertakings and agreements herein made on the part of the Trust is made and intended not as a personal representation, undertaking and agreement by the Owner Trustee but is made and intended for the purpose of binding only the Trust, (c) nothing herein contained shall be construed as creating any liability on the Owner Trustee, in its individual capacity or, except as expressly provided in the Trust Agreement, as Owner Trustee of the Trust, to perform any covenant either expressed or implied contained herein and (d) under no circumstances shall the Owner Trustee be personally liable for the payment of any indebtedness or expenses of the Trust or be liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken by the Trust under this Agreement or any related document. For all purposes of this Agreement, in the performance of its duties or obligations hereunder or in the performance of any duties or obligations of the Trust hereunder, the Owner Trustee shall be subject to, and entitled to the benefits of, the terms and provisions of Article VI of the Trust Agreement. ###

Appears in 22 contracts

Samples: Asset Representations Review Agreement (Ally Auto Receivables Trust 2018-1), Asset Representations Review Agreement (Ally Auto Receivables Trust 2018-1), Asset Representations Review Agreement (Ally Auto Receivables Trust 2017-5)

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Liability of Owner Trustee. It is expressly understood and agreed by the parties hereto that (a) this Agreement is executed and delivered by BNY Mellon Trust of Delaware, not in its individual capacity but solely as Owner Trustee of the Trust, in the exercise of the powers and authority conferred and vested in it under the Trust Agreement, (b) each of the representations, undertakings and agreements herein made on the part of the Trust is made and intended not as a personal representation, undertaking and agreement by the Owner Trustee but is made and intended for the purpose of binding only the Trust, (c) nothing herein contained shall be construed as creating any liability on the Owner Trustee, in its individual capacity or, except as expressly provided in the Trust Agreement, as Owner Trustee of the Trust, to perform any covenant either expressed or implied contained herein and (d) under no circumstances shall the Owner Trustee be personally liable for the payment of any indebtedness or expenses of the Trust or be liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken by the Trust under this Agreement or any related document. For all purposes of this Agreement, in the performance of its duties or obligations hereunder or in the performance of any duties or obligations of the Trust hereunder, the Owner Trustee shall be subject to, and entitled to the benefits of, the terms and provisions of Article VI of the Trust Agreement. ###related

Appears in 12 contracts

Samples: Asset Representations Review Agreement (Ally Auto Receivables Trust 2019-4), Asset Representations Review Agreement (Ally Auto Receivables Trust 2019-4), Asset Representations Review Agreement (Ally Auto Receivables Trust 2019-3)

Liability of Owner Trustee. It is expressly understood and agreed by the parties hereto that (a) this Agreement is executed and delivered by BNY Mellon Trust of Delaware, not in its individual capacity but solely as Owner Trustee of the Trust, in the exercise of the powers and authority conferred and vested in it under the Trust Agreement, (b) each of the representations, undertakings and agreements herein made on the part of the Trust is made and intended not as a personal representation, undertaking and agreement by the Owner Trustee but is made and intended for the purpose of binding only the Trust, (c) nothing herein contained shall be construed as creating any liability on the Owner Trustee, in its individual capacity or, except as expressly provided in the Trust Agreement, as Owner Trustee of the Trust, to perform any covenant either expressed or implied contained herein and (d) under no circumstances shall the Owner Trustee be personally liable for the payment of any indebtedness or expenses of the Trust or be liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken by the Trust under this Agreement or any related document. For all purposes of this Agreement, in the performance of its duties or obligations hereunder or in the performance of any duties or obligations of the Trust hereunder, the Owner Trustee shall be subject to, and entitled to the benefits of, the terms and provisions of Article VI of the Trust Agreement. ###* * *

Appears in 8 contracts

Samples: Asset Representations Review Agreement (Ally Auto Receivables Trust 2023-1), Asset Representations Review Agreement (Ally Auto Receivables Trust 2023-1), Asset Representations Review Agreement (Ally Auto Receivables Trust 2022-3)

Liability of Owner Trustee. It is expressly understood and agreed by the parties hereto that (a) this Agreement is executed and delivered by BNY Mellon Trust of Delaware, not in its individual capacity but solely as Owner Trustee of the Trust, in the exercise of the powers and authority conferred and vested in it under the Trust Agreement, (b) each of the representations, undertakings warranties, undertakings, covenants and agreements herein made on the part of the Trust is made and intended not as a personal representation, undertaking warranty, undertaking, covenant and agreement by the Owner Trustee but is made and intended for the purpose of binding only, and is only binding on, the Trust, (c) nothing herein contained shall be construed as creating any liability on the Owner Trustee, in its individual capacity or, except as expressly provided in the Trust Agreement, as Owner Trustee of the Trust, to perform any covenant either expressed or implied contained herein herein, (d) the Owner Trustee has made no investigation as to the accuracy or completeness of any representations or warranties made by the Trust in this Agreement and (de) under no circumstances shall the Owner Trustee be personally liable for the payment of any indebtedness indebtedness, indemnities or expenses of the Trust or be liable for the performance, breach or failure of any obligation, representation, warranty or covenant made or undertaken by the Trust under this Agreement or any related document. For all purposes of this Agreement, in the performance of its duties or obligations hereunder or in the performance of any duties or obligations of the Trust hereunder, the Owner Trustee shall be subject to, and entitled to the benefits of, the terms and provisions of Article VI of the Trust Agreement. ###* * *

Appears in 2 contracts

Samples: Asset Representations Review Agreement (Ally Auto Receivables Trust 2024-1), Asset Representations Review Agreement (Ally Auto Receivables Trust 2024-1)

Liability of Owner Trustee. It is expressly understood and agreed by the parties hereto that (a) this Agreement is executed and delivered by BNY Mellon Trust of Delaware, not in its individual capacity but solely as Owner Trustee of the Trust, in the exercise of the powers and authority conferred and vested in it under the Trust Agreement, (b) each of the representations, undertakings and agreements herein made on the part of the Trust is made and intended not as a personal representation, undertaking and agreement by the Owner Trustee but is made and intended for the purpose of binding only the Trust, (c) nothing herein contained shall be construed as creating any liability on the Owner Trustee, in its individual capacity or, except as expressly provided in the Trust Agreement, as Owner Trustee of the Trust, to perform any covenant either expressed or implied contained herein herein, and (d) under no circumstances shall the Owner Trustee be personally liable for the payment of any indebtedness or expenses of the Trust or be liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken by the Trust under this Agreement or any related document. For all purposes of this Agreement, in the performance of its duties or obligations hereunder or in the performance of any duties or obligations of the Trust hereunder, the Owner Trustee shall be subject to, and entitled to the benefits of, the terms and provisions of Article VI of the Trust Agreement. ###

Appears in 2 contracts

Samples: Asset Representations Review Agreement (Ally Auto Receivables Trust 2016-1), Asset Representations Review Agreement (Ally Auto Receivables Trust 2016-1)

Liability of Owner Trustee. It is expressly understood and agreed by the parties hereto that (ai) this Agreement Indenture is executed and delivered by BNY Mellon Trust of DelawareWilmington Savings Fund Society, FSB (“Wilmington Savings”), not in its individual capacity individually or personally but solely as Owner Trustee owner trustee of the TrustIssuer (in such capacity, the “Owner Trustee”), in the exercise of the powers and authority conferred and vested in it under it, pursuant to the Trust Agreement, (bii) each of the representations, undertakings and agreements herein made on the part of the Trust Issuer is made and intended not as a personal representationrepresentations, undertaking undertakings and agreement agreements by the Owner Trustee Wilmington Savings but is made and intended for the purpose of binding only, and is binding only on, the TrustIssuer, (ciii) nothing herein contained shall be construed as creating any liability on the Owner TrusteeWilmington Savings, in its individual capacity or, except as expressly provided in the Trust Agreement, as Owner Trustee of the Trustindividually or personally, to perform any covenant either expressed or implied contained herein herein, all such liability, if any, being expressly waived by the parties hereto and by any Person claiming by, through or under the parties hereto, (iv) Wilmington Savings has made and will make no investigation into the accuracy or completeness of any representations or warranties made by the Issuer in this Indenture and (dv) under no circumstances shall the Owner Trustee Wilmington Savings be personally liable for the payment of any indebtedness indebtedness, indemnities or expenses of the Trust Issuer or be liable for the performance, breach or failure of any obligation, representation, warranty or covenant made or undertaken by the Trust under this Agreement Issuer hereunder or any other related document. For documents, as to all purposes of this Agreement, in which recourse shall be had solely to the performance of its duties or obligations hereunder or in the performance of any duties or obligations assets of the Trust hereunder, the Owner Trustee shall be subject to, and entitled to the benefits of, the terms and provisions of Article VI of the Trust Agreement. ###Issuer.

Appears in 2 contracts

Samples: Please Insert Social Security (loanDepot, Inc.), Indenture (loanDepot, Inc.)

Liability of Owner Trustee. It is expressly understood and agreed by the parties hereto that (a) this Agreement is executed and delivered by BNY Mellon Trust of Delaware[_________________________], not in its individual capacity but solely as Owner Trustee of the Trust, in the exercise of the powers and authority conferred and vested in it under the Trust Agreement, (b) each of the representations, undertakings and agreements herein made on the part of the Trust is made and intended not as a personal representation, undertaking and agreement by the Owner Trustee but is made and intended for the purpose of binding only the Trust, (c) nothing herein contained shall be construed as creating any liability on the Owner Trustee, in its individual capacity or, except as expressly provided in the Trust Agreement, as Owner Trustee of the Trust, to perform any covenant either expressed or implied contained herein and (d) under no circumstances shall the Owner Trustee be personally liable for the payment of any indebtedness or expenses of the Trust or be liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken by the Trust under this Agreement or any related document. For all purposes of this Agreement, in the performance of its duties or obligations hereunder or in the performance of any duties or obligations of the Trust hereunder, the Owner Trustee shall be subject to, and entitled to the benefits of, the terms and provisions of Article VI of the Trust Agreement. ###* * *

Appears in 1 contract

Samples: Asset Representations Review Agreement (Ally Auto Assets LLC)

Liability of Owner Trustee. It is expressly understood and agreed by the parties hereto that (ai) this Agreement Indenture is executed and delivered by BNY Mellon Trust of DelawareWilmington Savings Fund Society, FSB (“Wilmington Savings”), not in its individual capacity individually or personally but solely as Owner Trustee owner trustee of the TrustIssuer (in such capacity, the “Owner Trustee”), in the exercise of the powers and authority conferred and vested in it under it, pursuant to the Trust Agreement, (bii) each of the representations, warranties, undertakings and agreements herein made on the part of the Trust Issuer is made and intended not as a personal representationrepresentations, undertaking warranties, undertakings and agreement agreements by the Owner Trustee Wilmington Savings but is made and intended for the purpose of binding only, and is binding only on, the TrustIssuer, (ciii) nothing herein contained shall be construed as creating any liability on the Owner TrusteeWilmington Savings, in its individual capacity or, except as expressly provided in the Trust Agreement, as Owner Trustee of the Trustindividually or personally, to perform any covenant either expressed or implied contained herein herein, all such liability, if any, being expressly waived by the parties hereto and by any Person claiming by, through or under the parties hereto, (iv) Wilmington Savings has not made and will not make any investigation into the accuracy or completeness of any representations or warranties made by the Issuer in this Indenture and (dv) under no circumstances shall the Owner Trustee Wilmington Savings be personally liable for the payment of any indebtedness indebtedness, indemnities or expenses of the Trust Issuer or be liable for the performance, breach or failure of any obligation, representation, warranty or covenant made or undertaken by the Trust under this Agreement Issuer hereunder or any other related document. For documents, as to all purposes of this Agreement, in which recourse shall be had solely to the performance of its duties or obligations hereunder or in the performance of any duties or obligations assets of the Trust hereunder, the Owner Trustee shall be subject to, and entitled to the benefits of, the terms and provisions of Article VI of the Trust Agreement. ###Issuer.

Appears in 1 contract

Samples: Intercreditor Agreement (loanDepot, Inc.)

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Liability of Owner Trustee. It is expressly understood and agreed by the parties hereto that (ai) this Agreement Indenture is executed and delivered by BNY Mellon Trust of DelawareWilmington Savings Fund Society, FSB (“Wilmington Savings”), not in its individual capacity individually or personally but solely as Owner Trustee owner trustee of the TrustIssuer (in such capacity, the “Owner Trustee”), in the exercise of the powers and authority conferred and vested in it under it, pursuant to the Trust Agreement, (bii) each of the representations, undertakings and agreements herein made on the part of the Trust Issuer is made and intended not as a personal representationrepresentations, undertaking undertakings and agreement agreements by the Owner Trustee Wilmington Savings but is made and intended for the purpose of binding only, and is binding only on, the TrustIssuer, (ciii) nothing herein contained shall be construed as creating any liability on the Owner TrusteeWilmington Savings, in its individual capacity or, except as expressly provided in the Trust Agreement, as Owner Trustee of the Trustindividually or personally, to perform any covenant either expressed or implied contained herein herein, all such liability, if any, being expressly waived by the parties hereto and by any Person claiming by, through or under the parties hereto, (div) Wilmington Savings has made and will make no investigation into the accuracy or completeness of any representations or warranties made by the Issuer in this Indenture (iv) under no circumstances shall the Owner Trustee Wilmington Savings be personally liable for the payment of any indebtedness indebtedness, indemnities or expenses of the Trust Issuer or be liable for the performance, breach or failure of any obligation, representation, warranty or covenant made or undertaken by the Trust under this Agreement Issuer hereunder or any other related document. For documents, as to all purposes of this Agreement, in which recourse shall be had solely to the performance of its duties or obligations hereunder or in the performance of any duties or obligations assets of the Trust hereunder, the Owner Trustee shall be subject to, and entitled to the benefits of, the terms and provisions of Article VI of the Trust Agreement. ###Issuer.

Appears in 1 contract

Samples: Indenture (loanDepot, Inc.)

Liability of Owner Trustee. It is expressly understood and agreed by the parties hereto that (ai) this Agreement Indenture is executed and delivered on behalf of the Issuer by BNY Mellon Trust of DelawareWilmington Savings Fund Society, FSB (“Wilmington Savings”), not individually or personally but solely in its individual capacity but solely as Owner Trustee owner trustee of the TrustIssuer (in such capacity, the “Owner Trustee”), in the exercise of the powers and authority conferred and vested in it under it, pursuant to the Trust Agreement, (bii) each of the representations, warranties, undertakings and agreements herein made on the part of the Trust Issuer is made and intended not as a personal representationrepresentations, undertaking warranties, undertakings and agreement agreements by the Owner Trustee Wilmington Savings but is made and intended for the purpose of binding only, and is binding only on, the TrustIssuer, (ciii) nothing herein contained shall be construed as creating any liability on the Owner TrusteeWilmington Savings, in its individual capacity or, except as expressly provided in the Trust Agreement, as Owner Trustee of the Trustindividually or personally, to perform any covenant either expressed or implied contained herein herein, all such liability, if any, being expressly waived by the parties hereto and by any Person claiming by, through or under the parties hereto, (iv) Wilmington Savings has not made and will not make any investigation into the accuracy or completeness of any representations or warranties made by the Issuer in this Indenture and (dv) under no circumstances shall the Owner Trustee Wilmington Savings be personally liable for the payment of any indebtedness indebtedness, indemnities or expenses of the Trust Issuer or be liable for the performance, breach or failure of any obligation, representation, warranty or covenant made or undertaken by the Trust under this Agreement Issuer hereunder or any other related document. For documents, as to all purposes of this Agreement, in which recourse shall be had solely to the performance of its duties or obligations hereunder or in the performance of any duties or obligations assets of the Trust hereunder, the Owner Trustee shall be subject to, and entitled to the benefits of, the terms and provisions Issuer. [Remainder of Article VI of the Trust Agreement. ###page intentionally left blank]

Appears in 1 contract

Samples: loanDepot, Inc.

Liability of Owner Trustee. It is expressly understood and agreed by the parties hereto that (a) this Agreement is executed and delivered by BNY Mellon Trust of Delaware[ ], not in its individual capacity but solely as Owner Trustee of the Trust, in the exercise of the powers and authority conferred and vested in it under the Trust Agreement, (b) each of the representations, undertakings and agreements herein made on the part of the Trust is made and intended not as a personal representation, undertaking and agreement by the Owner Trustee but is made and intended for the purpose of binding only the Trust, (c) nothing herein contained shall be construed as creating any liability on the Owner Trustee, in its individual capacity or, except as expressly provided in the Trust Agreement, as Owner Trustee of the Trust, to perform any covenant either expressed or implied contained herein and (d) under no circumstances shall the Owner Trustee be personally liable for the payment of any indebtedness or expenses of the Trust or be liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken by the Trust under this Agreement or any related document. For all purposes of this Agreement, in the performance of its duties or obligations hereunder or in the performance of any duties or obligations of the Trust hereunder, the Owner Trustee shall be subject to, and entitled to the benefits of, the terms and provisions of Article VI of the Trust Agreement. ###

Appears in 1 contract

Samples: Asset Representations Review Agreement (Ally Auto Assets LLC)

Liability of Owner Trustee. It is expressly understood and agreed by the parties hereto that (ai) this Agreement Indenture is executed and delivered by BNY Mellon Trust of DelawareWilmington Savings Fund Society, FSB (“Wilmington Savings”), not in its individual capacity individually or personally but solely as Owner Trustee owner trustee of the TrustIssuer (in such capacity, the “Owner Trustee”), in the exercise of the powers and authority conferred and vested in it under it, pursuant to the Trust Agreement, (bii) each of the representations, undertakings and agreements herein made on the part of the Trust Issuer is made and intended not as a personal representationrepresentations, undertaking undertakings and agreement agreements by the Owner Trustee Wilmington Savings but is made and intended for the purpose of binding only, and is binding only on, the TrustIssuer, (ciii) nothing herein contained shall be construed as creating any liability on the Owner TrusteeWilmington Savings, in its individual capacity or, except as expressly provided in the Trust Agreement, as Owner Trustee of the Trustindividually or personally, to perform any covenant either expressed or implied contained herein herein, all such liability, if any, being expressly waived by the parties hereto and by any Person claiming by, through or under the parties hereto, (iv) Wilmington Savings has not made and will not make any investigation into the accuracy or completeness of any representations or warranties made by the Issuer in this Indenture and (dv) under no circumstances shall the Owner Trustee Wilmington Savings be personally liable for the payment of any indebtedness indebtedness, indemnities or expenses of the Trust Issuer or be liable for the performance, breach or failure of any obligation, representation, warranty or covenant made or undertaken by the Trust under this Agreement Issuer hereunder or any other related document. For documents, as to all purposes of this Agreement, in which recourse shall be had solely to the performance of its duties or obligations hereunder or in the performance of any duties or obligations assets of the Trust hereunder, the Owner Trustee shall be subject to, and entitled to the benefits of, the terms and provisions of Article VI of the Trust Agreement. ###Issuer.

Appears in 1 contract

Samples: Please Insert Social Security (loanDepot, Inc.)

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