Limitation of Liability for Payments Sample Clauses

Limitation of Liability for Payments. All payments or distributions made to Certificateholders shall be made only from the Trust Property and only to the extent that the Trustee shall have sufficient income or proceeds from the Trust Property to make such payments in accordance with the terms of Article IV of this Agreement. Each Certificateholder, by its acceptance of a Certificate, agrees that it will look solely to the income and proceeds from the Trust Property to the extent available for distribution to such Certificateholder as provided in this Agreement.
Limitation of Liability for Payments. All payments and distributions made to Certificateholders of any series in respect of the Certificates of such series shall be made only from the Trust Property of the related Trust and only to the extent that the Trustee shall have sufficient income or proceeds from such Trust Property to make such payments in accordance with the terms of Article IV of this Agreement. The Certificates do not represent indebtedness of the related Trusts, and references herein or in any Trust Supplement to interest accruing on any Certificates are intended for purposes of computation only. Each Certificateholder, by its acceptance of a Certificate, agrees that it will look solely to the income and proceeds from the Trust Property of the related Trust for any payment or distribution due to such Certificateholder pursuant to the terms of this Agreement and that it will not have any recourse to the Company, the Trustee, the Loan Trustees, any Owner Trustee or any Owner Participant except as otherwise expressly provided in this Agreement, in any Note Document or in any related Intercreditor Agreement. The Company is a party to this Agreement solely for purposes of meeting the requirements of the Trust Indenture Act, and therefore shall not have any right, obligation or liability hereunder, or under the terms of any Trust Supplement or any Certificates (except as otherwise expressly provided herein or therein).
Limitation of Liability for Payments. All payments or distributions made to Certificateholders under this Pass Through Trust Agreement shall be made only from the Trust Property and only to the extent that the Pass Through Trustee shall have received sufficient income or proceeds from the Trust Property to make such payments in accordance with the terms of Section 4 of this Pass Through Trust Agreement. Each Holder of a Certificate, by its acceptance of such Certificate, agrees that it will look solely to the income and proceeds from the Trust Property to the extent available for distribution to the Holder thereof as provided in this Pass Through Trust Agreement. Nothing in this Pass Through Trust Agreement shall be construed as an agreement, or otherwise creating an obligation, of (a) any Facility Lessee, the Pass Through Trust or the Pass Through Trustee to pay any of the principal, premium, if any, or interest due from time to time under the Lessor Notes, or (b) any Facility Lessee, the Pass Through Trust or the Pass Through Trustee to pay any amount due from time to time in respect of the Certificates. The liability of an Owner Lessor under the applicable Lessor Notes shall be limited as set forth therein and in the applicable Collateral Trust Indenture.
Limitation of Liability for Payments. All payments or distributions made to Holders of Certificates under this Certificate Indenture shall be made only from the Trust Property with respect to that Class of Certificates and only to the extent that the Certificate Trustee shall have sufficient income or proceeds from such Trust Property to make such payments in accordance with the terms of Article IV of this Certificate Indenture. Each Holder of a Certificate of any Class, by its acceptance of a Certificate of that Class, agrees that it will look solely to the income and proceeds from the Trust Property with respect to that Class to the extent available for distribution to the Holder thereof as provided in this Certificate Indenture. It is expressly understood and agreed by the parties hereto that (a) the Certificates are executed, authenticated and delivered by the Delaware Trustee and the Certificate Trustee, respectively, not individually or personally but solely in their respective capacity as Delaware Trustee and Certificate Trustee in the exercise of the powers and authority conferred and vested in them, and (b) under no circumstances shall the Delaware Trustee or Certificate Trustee be personally liable for the payment of any of the Certificates or 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 Certificate Issuer under this Certificate Indenture.
Limitation of Liability for Payments. Section 3.09 of the Basic Agreement shall be amended, with respect to the Applicable Trust, by deleting the phrase "the Owner Trustees or the Owner Participants" in the second sentence thereof and adding in lieu thereof "the Above-Cap Liquidity Provider, the Primary Liquidity Provider or the Policy Provider".
Limitation of Liability for Payments. All payments or distributions made to Holders of Bonds under this Bond Indenture, of Operating Expenses and of any expenses of the Bond Issuer to be paid or incurred that are not specifically denominated an Operating Expense shall be made only from the Collateral and only to the extent that the Bond Trustee shall have sufficient income or proceeds from the Collateral to make such payments in accordance with the terms of Article VIII of this Bond Indenture. Except as otherwise provided in this Bond Indenture, each Holder of a Bond, by acceptance of such Bond, agrees that it will look solely to the income and proceeds from the Collateral to the extent available for payment and distribution to such Holder as provided in this Bond Indenture. The Bonds shall not constitute a debt, general obligation or a pledge of the faith and credit or taxing power of the State of New York or of any county, municipality or any other political subdivision, agency or instrumentality of the State of New York, other than the Bond Issuer. The issuance of the Bonds does not obligate the State of New York or any county, municipality or any other politicalsubdivision, agency or instrumentality of the State of New York to levy any tax or make any appropriation for payment of the principal of or interest on the Bonds.
Limitation of Liability for Payments. All payments or distributions made to the Noteholder and Residual Certificateholders under this Trust Agreement shall be made only from the Trust Estate and only to the extent that the Trustee shall have sufficient income or proceeds from the Trust Estate to make such payments in accordance with the terms of Article IV of this Trust Agreement. Each Noteholder or Residual Certificateholder, by its acceptance of such Note or Residual Trust Certificate, agrees that it will look solely to the distributions with respect to, income and proceeds from the Trust Estate (but only to the extent related to such Note or Residual Trust Certificate) to the extent available for distribution to the Noteholder or Residual Certificateholders thereof as provided in this Trust Agreement. Nothing in this Trust Agreement shall be construed as an agreement, or otherwise creating an obligation, of the Trustee to pay any of the amounts due from time to time in respect of the Note or Residual Trust Certificates. In connection with each Residual Trust Certificate, each Borrower, as an initial Residual Certificateholder, hereby acknowledges and agrees that it is only entitled to receive distributions, income and proceeds from the Trust Estate to the extent related to the Contract Payments pledged by such Borrower to the Trust pursuant to the applicable Security Agreement. Any such amounts due to a Residual Certificateholder shall be calculated by the Servicer, and distributed by the Trustee upon its receipt of a written direction with respect thereto from the Servicer.