Common use of Limited Recourse Clause in Contracts

Limited Recourse. The Seller and the Purchaser agree that any claim that the Seller or the Purchaser may seek to enforce against each other is limited to the Second-Tier Assets only and does not represent a claim against the assets of the Seller or the Purchaser as a whole or any assets other than the Second-Tier Assets.

Appears in 35 contracts

Samples: Daimler Trust (Daimler Trust), Daimler Trust (Mercedes-Benz Auto Lease Trust 2017-A), Second Tier Sale Agreement (Mercedes-Benz Auto Lease Trust 2013-A)

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Limited Recourse. The Seller and the Purchaser agree that any claim that the Seller or the Purchaser may seek to enforce against each other is limited to the SecondFirst-Tier Assets only and does not represent a claim against the assets of the Seller or the Purchaser as a whole or any assets other than the SecondFirst-Tier Assets.

Appears in 35 contracts

Samples: Sale Agreement (Mercedes-Benz Auto Lease Trust 2021-A), Sale Agreement (Mercedes-Benz Auto Lease Trust 2023-A), First Tier Sale Agreement (Mercedes-Benz Auto Lease Trust 2014-A)

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