Common use of Limitation of Liability of Indenture Trustee and Owner Trustee Clause in Contracts

Limitation of Liability of Indenture Trustee and Owner Trustee. (a) Notwithstanding anything contained herein to the contrary, this Agreement has been acknowledged and accepted by U.S. Bank Trust Company, National Association, not in its individual capacity but solely as Indenture Trustee and in no event shall U.S. Bank Trust Company, National Association have any liability for the representations, warranties, covenants, agreements or other obligations of the Issuing Entity 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 Issuing Entity. 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 Issuing Entity hereunder, the Indenture Trustee shall be subject to, and entitled to the benefits of, the terms and provisions of Article VI of the Indenture.

Appears in 20 contracts

Samples: Servicing Agreement (Ally Auto Receivables Trust 2022-3), Servicing Agreement (Ally Auto Receivables Trust 2023-1), Servicing Agreement (Ally Auto Receivables Trust 2023-1)

AutoNDA by SimpleDocs

Limitation of Liability of Indenture Trustee and Owner Trustee. (a) Notwithstanding anything contained herein to the contrary, this Agreement has been acknowledged and accepted by U.S. The Bank of New York Trust Company, National AssociationN.A., not in its individual capacity but solely as Indenture Trustee and in no event shall U.S. The Bank of New York Trust Company, National Association N.A. have any liability for the representations, warranties, covenants, agreements or other obligations of the Issuing Entity 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 Issuing Entity. 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 Issuing Entity hereunder, the Indenture Trustee shall be subject to, and entitled to the benefits of, the terms and provisions of Article VI of the Indenture.

Appears in 7 contracts

Samples: Trust Sale and Servicing Agreement (Capital Auto Receivables Asset Trust 2007-1), Trust Sale and Servicing Agreement (Capital Auto Receivables Asset Trust 2008-1), Trust Sale and Servicing Agreement (Capital Auto Receivables LLC)

AutoNDA by SimpleDocs
Time is Money Join Law Insider Premium to draft better contracts faster.