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

Limitation of Liability of Owner Trustee and Indenture. Trustee. (a) Notwithstanding anything contained herein to the contrary, this ------- Agreement has been countersigned by Wilmington Trust Company not in its individual capacity but solely in its capacity as Owner Trustee of the Issuer and in no event shall Wilmington Trust Company in its individual capacity or, except as expressly provided in the Trust Agreement, as Owner Trustee have any liability for the representations, warranties, covenants, agreements or other obligations of the Issuer 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. 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 Issuer hereunder, the Owner Trustee shall be subject to, and entitled to the benefits of, the terms and provisions of Articles VI, VII and VIII of the Trust Agreement.

Appears in 2 contracts

Samples: Sale and Servicing Agreement (Prudential Securities Secured Financing Corp), Sale and Servicing Agreement (Prudential Securities Secured Financing Corp)

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Limitation of Liability of Owner Trustee and Indenture. Trustee. (a) Notwithstanding anything contained herein to the contrary, this ------- Agreement has been countersigned by Wilmington Trust Company ___________________ not in its individual capacity but solely in its capacity as Owner Trustee of the Issuer and in no event shall Wilmington Trust Company _______________ in its individual capacity or, except as expressly provided in the Trust Agreement, as Owner Trustee beneficial owner of the Issuer have any liability for the representations, warranties, covenants, agreements or other obligations of the Issuer 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. 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 Issuer hereunder, the Owner Trustee shall be subject to, and entitled to the benefits of, the terms and provisions of Articles VI, VII and VIII of the Trust Agreement.

Appears in 1 contract

Samples: Sale and Servicing Agreement (Asset Backed Securities Corp)

Limitation of Liability of Owner Trustee and Indenture. Trustee. (a) Notwithstanding anything contained herein to the contrary, ------- this ------- Agreement has been countersigned by Wilmington Trust Company _________________________________ not in its individual capacity but solely in its capacity as Owner Trustee of the Issuer and in no event shall Wilmington Trust Company ____________________ in its individual capacity or, except as expressly provided in the Trust Agreement, as Owner Trustee beneficial owner of the Issuer have any liability for the representations, warranties, covenants, agreements or other obligations of the Issuer 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. 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 Issuer hereunder, the Owner Trustee shall be subject to, and entitled to the benefits of, the terms and provisions of Articles VI, VII and VIII of the Trust Agreement.

Appears in 1 contract

Samples: Form of Sale and Servicing Agreement (Morgan Stanley Abs Capital Ii Inc)

Limitation of Liability of Owner Trustee and Indenture. Trustee. (a) Notwithstanding anything contained herein to the contrary, this ------- Agreement has been countersigned by Wilmington Trust Company The Bank of New York not in its individual capacity but solely in its capacity as Owner Trustee of the Issuer and in no event shall Wilmington Trust Company The Bank of New York in its individual capacity or, except as expressly provided in the Trust Agreement, as Owner Trustee beneficial owner of the Issuer have any liability for the representations, warranties, covenants, agreements or other obligations of the Issuer 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. 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 Issuer hereunder, the Owner Trustee shall be subject to, and entitled to the benefits of, the terms and provisions of Articles VI, VII and VIII of the Trust Agreement.

Appears in 1 contract

Samples: Sale and Servicing Agreement (World Omni Auto Receivables LLC)

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Limitation of Liability of Owner Trustee and Indenture. Trustee. ------- (a) Notwithstanding anything contained herein to the contrary, this ------- Agreement has been countersigned by Wilmington Trust Company not in its individual capacity but solely in its capacity as Owner Trustee of the Issuer Trust and in no event shall Wilmington Trust Company in its individual capacity or, except as expressly provided in the Trust Agreement, as Owner Trustee have any liability for the representations, warranties, covenants, agreements or other obligations of the Issuer Trust 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 IssuerTrust. 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 Issuer Trust hereunder, the Owner Trustee shall be subject to, and entitled to the benefits of, the terms and provisions of Articles VIV, VI and VII and VIII of the Trust Agreement.

Appears in 1 contract

Samples: Sale and Servicing Agreement (Chevy Chase Bank FSB)

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