Common use of Limitation on Liability of Seller, Administrator and Others Clause in Contracts

Limitation on Liability of Seller, Administrator and Others. (a) The Seller and any director or officer or employee or agent of the Seller may rely in good faith on the advice of counsel or on any document of any kind, prima facie properly executed and submitted by any Person respecting any matters arising hereunder (provided that such reliance shall not limit in any way the Seller's obligations under Section 3.02). The Seller shall not be under any obligation to appear in, prosecute or defend any legal action that shall not be incidental to its obligations under this Agreement, and that in its opinion may involve it in any expense or liability.

Appears in 6 contracts

Samples: Sale and Servicing Agreement (Keycorp Student Loan Trust 2000-B), Sale and Servicing Agreement (Keycorp Student Loan Trust 2000-A), Sale and Servicing Agreement (Key Bank Usa National Association)

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