Common use of Limitation of Liability of Eligible Lender Trustee and Indenture Trustee Clause in Contracts

Limitation of Liability of Eligible Lender Trustee and Indenture Trustee. A. Notwithstanding anything contained herein to the contrary, this Agreement has been signed by Chase Bank USA, National Association, not in its individual capacity but solely in its capacity as Eligible Lender Trustee of the Issuer and in no event shall Chase Bank USA, National Association in its individual capacity or, except as expressly provided in the Trust Agreement, as Eligible Lender Trustee have any liability for the representations, warranties, covenants, agreements or other obligations of the Issuer or the Eligible Lender Trustee hereunder or in any of the certificates, notices or agreements delivered pursuant hereto as to all of which recourse shall be had solely to the assets of the Issuer.

Appears in 18 contracts

Samples: Servicing Agreement (SLM Student Loan Trust 2006-7), Servicing Agreement (SLM Student Loan Trust 2006-6), Servicing Agreement (SLM Funding LLC)

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Limitation of Liability of Eligible Lender Trustee and Indenture Trustee. A. Notwithstanding anything contained herein to the contrary, this Agreement has been signed by Chase Bank USA, National Association, not in its individual capacity but solely in its capacity as Eligible Lender Trustee of the Issuer and in no event shall Chase Bank USA, National Association in its individual capacity or, except as expressly provided in the Trust Servicing Agreement Agreement, as Eligible Lender Trustee have any liability for the representations, warranties, covenants, agreements or other obligations of the Issuer or the Eligible Lender Trustee hereunder or in any of the certificates, notices or agreements delivered pursuant hereto as to all of which recourse shall be had solely to the assets of the Issuer.

Appears in 6 contracts

Samples: Servicing Agreement (SLM Student Loan Trust 2007-3), Servicing Agreement (SLM Student Loan Trust 2006-1), Servicing Agreement (SLM Student Loan Trust 2006-9)

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