Limited Recourse; Subordination of Claims. (a) The obligations of the Borrower under this Agreement and any Exchange Notes are solely the obligations of the Borrower and do not represent any obligation or interest in any assets of the Servicer, the Collateral Agent, the Administrative Agent or any other Person.
Appears in 22 contracts
Samples: Credit and Security Agreement (ACAR Leasing Ltd.), Credit and Security Agreement (ACAR Leasing Ltd.), Credit and Security Agreement
Limited Recourse; Subordination of Claims. (a) The obligations of the Borrower under this Agreement and any Exchange Notes are solely the obligations of the Borrower and do not represent any obligation of or interest in any assets of the Servicer, the Initial Beneficiary, the Collateral Agent, the Administrative Agent or any other Person.
Appears in 3 contracts
Samples: Collateral Agency Agreement (Mercedes-Benz Auto Lease Trust 2023-A), Collateral Agency Agreement (Mercedes-Benz Auto Lease Trust 2023-A), Collateral Agency Agreement (Daimler Trust)
Limited Recourse; Subordination of Claims. (a) The obligations of the Borrower Borrowers under this Agreement and any Exchange Notes are solely the obligations of the Borrower Borrowers and do not represent any obligation or interest in any assets of the Servicer, the Holding Companies, the Collateral Agent, the Administrative Agent or any other Person.
Appears in 1 contract
