Common use of Limitation on Liability of the Sellers Clause in Contracts

Limitation on Liability of the Sellers. None of the directors, officers, employees or agents of GMACM or WG Trust 2003 shall be under any liability to the Purchaser or the Issuer, it being expressly understood that all such liability is expressly waived and released as a condition of, and as consideration for, the execution of this Agreement and any Subsequent Transfer Agreement. Except as and to the extent expressly provided in the Servicing Agreement, GMACM and WG Trust 2003 shall not be under any liability to the Issuer, the Owner Trustee, the Indenture Trustee or the Securityholders. GMACM or WG Trust 2003 and any director, officer, employee or agent of GMACM or WG Trust 2003 may rely in good faith on any document of any kind prima facie properly executed and submitted by any Person respecting any matters arising hereunder.

Appears in 8 contracts

Samples: Residential Asset Mortgage Products (Gmacm Home Equity Loan Trust 2005-He1), Mortgage Loan Purchase Agreement (GMACM Home Equity Loan Trust 2006-He5), Mortgage Loan Purchase Agreement (GMACM Home Equity Loan Trust 2007-He2)

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Limitation on Liability of the Sellers. Section 6.1 Limitation on Liability of the Sellers. None of the directors, officers, employees or agents of GMACM or WG Trust 2003 shall be under any liability to the Purchaser or the Issuer, it being expressly understood that all such liability is expressly waived and released as a condition of, and as consideration for, the execution of this Agreement and any Subsequent Transfer Agreement. Except as and to the extent expressly provided in the Servicing Agreement, GMACM and WG Trust 2003 shall not be under any liability to the Issuer, the Owner Trustee, the Indenture Trustee or the Securityholders. GMACM or WG Trust 2003 and any director, officer, employee or agent of GMACM or WG Trust 2003 may rely in good faith on any document of any kind prima facie properly executed and submitted by any Person respecting any matters arising hereunder.

Appears in 6 contracts

Samples: Mortgage Loan Purchase Agreement (GMACM Home Equity Loan Trust 2006-He1), Mortgage Loan Purchase Agreement (GMACM Home Equity Loan Trust 2006-He5), Mortgage Loan Purchase Agreement (GMACM Home Equity Loan Trust 2006-He5)

Limitation on Liability of the Sellers. None of the directors, officers, employees or agents of either GMACM or WG Trust 2003 shall be under any liability to the Purchaser or the IssuerPurchaser, it being expressly understood that all such liability is expressly waived and released as a condition of, and as consideration for, the execution of this Agreement and any Subsequent Transfer Agreement. Except as and to the extent expressly provided in the Servicing Agreement, GMACM and WG Trust 2003 shall not be under any liability to the Issuer, the Owner Trustee, the Indenture Trustee or the Securityholders. GMACM or GMACM, WG Trust 2003 and any director, officer, employee or agent of GMACM or WG Trust 2003 Trust, may rely in good faith on any document of any kind prima facie properly executed and submitted by any Person respecting any matters arising hereunder.

Appears in 6 contracts

Samples: Home Loan Purchase Agreement (Residential Asset Mortgage Products Inc), Loan Purchase Agreement (GMACM Home Loan Trust 2004-Hltv1), Home Loan Purchase Agreement (Residential Asset Mortgage Products Inc)

Limitation on Liability of the Sellers. None of the directors, officers, employees or agents of either GMACM or WG Trust 2003 shall be under any liability to the Purchaser or the Issuer, it being expressly understood that all such liability is expressly waived and released as a condition of, and as consideration for, the execution of this Agreement and any Subsequent Transfer Agreement. Except as and to the extent expressly provided in the Servicing Agreement, GMACM and WG Trust 2003 shall not be under any liability to the Issuer, the Owner Trustee, the Indenture Trustee or the Securityholders. GMACM or GMACM, WG Trust 2003 and any director, officer, employee or agent of GMACM or WG Trust 2003 Trust, may rely in good faith on any document of any kind prima facie properly executed and submitted by any Person respecting any matters arising hereunder.

Appears in 4 contracts

Samples: Mortgage Loan Purchase Agreement (Residential Asset Mortgage Products Inc), Mortgage Loan Purchase Agreement (Residential Asset Mortgage Products Inc), Home Loan Purchase Agreement (Residential Asset Mortgage Products Inc)

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Limitation on Liability of the Sellers. None of the directors, officers, employees or agents of either GMACM or WG Trust 2003 2001 shall be under any liability to the Purchaser or the Issuer, it being expressly understood that all such liability is expressly waived and released as a condition of, and as consideration for, the execution of this Agreement and any Subsequent Transfer Agreement. Except as and to the extent expressly provided in the Servicing Agreement, GMACM and WG Trust 2003 2001 shall not be under any liability to the Issuer, the Owner Trustee, the Indenture Trustee or the Securityholders. GMACM or WG Trust 2003 2001 and any director, officer, employee or agent of GMACM or WG Trust 2003 2001 may rely in good faith on any document of any kind prima facie properly executed and submitted by any Person respecting any matters arising hereunder.

Appears in 2 contracts

Samples: Mortgage Loan Purchase Agreement (Residential Asset Mortgage Products Inc), Execution (Residential Asset Mortgage Products Inc)

Limitation on Liability of the Sellers. Section 6.1 Limitation on Liability of the Seller. None of the directors, officers, employees or agents of GMACM or WG Trust 2003 shall be under any liability to the Purchaser or the Issuer, it being expressly understood that all such liability is expressly waived and released as a condition of, and as consideration for, the execution of this Agreement and any Subsequent Transfer Agreement. Except as and to the extent expressly provided in the Servicing Agreement, GMACM and WG Trust 2003 shall not be under any liability to the Issuer, the Owner Trustee, the Indenture Trustee or the Securityholders. GMACM or WG Trust 2003 and any director, officer, employee or agent of GMACM or WG Trust 2003 may rely in good faith on any document of any kind prima facie properly executed and submitted by any Person respecting any matters arising hereunder.

Appears in 1 contract

Samples: GMACM Home Equity Loan Trust 2007-He3

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