Limited Liability for Permitted Investments. Subject to Section 6.1(c), neither the Indenture Trustee nor the Note Paying Agent will be liable for any insufficiency in Series [_]-[_] Accounts resulting from a loss on a Permitted Investment, except for losses attributable to [___]’s failure to make payments on the Permitted Investments issued by [___], in its commercial capacity as principal obligor and not as trustee.
Appears in 3 contracts
Samples: Verizon Master Trust, Verizon Master Trust, Verizon Master Trust
Limited Liability for Permitted Investments. Subject to Section 6.1(c), neither the Indenture Trustee nor the Note Paying Agent will be liable for any insufficiency in Series [_]-[_] Bank Accounts resulting from a loss on a Permitted Investment, except for losses attributable to [_____]’s failure to make payments on the Permitted Investments issued by [_____], in its commercial capacity as principal obligor and not as trustee.
Appears in 3 contracts
Samples: Verizon ABS LLC, Verizon ABS LLC, Verizon ABS LLC