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

Limitation of Liability of Trustee and Indenture Trustee. (a) Notwithstanding anything contained herein to the contrary, this Agreement has been signed by Chase Manhattan Bank USA, National Association not in its individual capacity but solely in its capacity as Trustee of the Issuer and in no event shall Chase Manhattan Bank USA, National Association in its individual capacity have any liability for the representations, warranties, covenants, agreements or other obligations of the Issuer or the 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 9 contracts

Samples: Administration Agreement (SLM Education Credit Funding LLC), Administration Agreement (SLM Education Credit Funding LLC), Administration Agreement (SLM Education Credit Funding LLC)

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Limitation of Liability of Trustee and Indenture Trustee. (a) Notwithstanding anything contained herein to the contrary, this Agreement has been signed by Chase Manhattan Bank USA, National Association Association, not in its individual capacity but solely in its capacity as Trustee of the Issuer and in no event shall Chase Manhattan Bank USA, National Association in its individual capacity or, except as expressly provided in the Trust Agreement, as Trustee have any liability for the representations, warranties, covenants, agreements or other obligations of the Issuer or the 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 Education Credit Funding LLC), Servicing Agreement (SLM Education Credit Funding LLC), Servicing Agreement (SLM Education Credit Funding LLC)

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Limitation of Liability of Trustee and Indenture Trustee. (a) A. Notwithstanding anything contained herein to the contrary, this Agreement has been signed by Chase Manhattan Bank USA, National Association Association, not in its individual capacity but solely in its capacity as Trustee of the Issuer and in no event shall Chase Manhattan Bank USA, National Association in its individual capacity or, except as expressly provided in the Trust Agreement, as Trustee have any liability for the representations, warranties, covenants, agreements or other obligations of the Issuer or the 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 2 contracts

Samples: Servicing Agreement (SLM Education Credit Funding LLC), Servicing Agreement (SLM Education Credit Funding LLC)

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