No Financial Liability. Notwithstanding any other provision of these presents or of any other Current Issuer Transaction Document, nothing shall require the Note Trustee to risk its own funds or otherwise incur any financial liability in the performance of any of its duties or in the exercise of any of its rights or powers or otherwise in connection with these presents or any other Current Issuer Transaction Document (including, without limitation, forming any opinion or employing any legal, financial or other adviser), if it shall believe that repayment of such funds or adequate indemnity against such risk or liability is not assured to it. The Note Trustee shall not be responsible for exercising the rights of any of the parties under the Current Issuer Transaction Documents or considering the basis upon which the approvals or consents are granted by any of the parties under the Current Issuer Transaction Documents.
No Financial Liability. No provision of this Agreement (other than Sections 2.6, 2.7, 4.3(d)(i) and 4.3(e)) shall require the Manager to expend or risk its funds or otherwise incur any financial liability in the performance of any of its rights or powers hereunder, if the Manager shall have reasonable grounds for believing that repayment of such funds or adequate indemnity against such risk or liability is not compensated by the payment of the Monthly Management Fee and is otherwise not reasonably assured or provided to the Manager. Further, the Manager shall not be obligated to perform any services not enumerated or otherwise contemplated hereunder, unless the Manager determines that it is more likely than not that it shall be reimbursed for all of its expenses incurred in connection with such performance. The Manager shall not be liable under the Notes and shall not be responsible for any amounts required to be paid by the Securitization Entities under or pursuant to the Indenture.
No Financial Liability. Notwithstanding anything else herein contained, the Security Trustee may refrain from taking any action or exercising any right, power, authority or discretion vested in it under this Second Priority Funding Deed of Charge, any other Transaction Document, any Funding Charged Property or any other agreement relating to the transactions herein or therein contemplated until it has been indemnified and/or secured to its satisfaction against and all liabilities which might be brought, made or conferred against or suffered, incurred or sustained by it as a result. Notwithstanding any other provision of this Second Priority Funding Deed of Charge or of any other Transaction Document, nothing shall require the Security Trustee to risk its own funds or otherwise incur any financial liability in the performance of any of its duties or in the exercise of any of its rights or powers or otherwise in connection with this Second Priority Funding Deed of Charge or any other Funding Transaction Document (including, without limitation, forming any opinion or employing any legal, financial or other adviser), if it shall believe that repayment of such funds or adequate indemnity against such risk or liability is not assured to it. Further, without prejudice to the right of indemnity by law given to trustees, Funding hereby covenants further, to reimburse, pay or discharge (on a full indemnity basis) on demand the Security Trustee and every attorney, receiver, manager, agent, delegate or other person appointed by it under this Second Priority Funding Deed of Charge from and against all liabilities, losses, damages, costs, expenses, actions, proceedings, claims and demands (including without limitation legal fees and any applicable value added tax or similar tax) incurred by or made against it or him in the execution or purported execution of the trusts of this Second Priority Funding Deed of Charge or of its or his powers or in respect of any matter or thing done or omitted in any way relating to this Second Priority Funding Deed of Charge or any of the other Funding Transaction Documents except such as may arise from the gross negligence or wilful misconduct or fraud of any such indemnified person.
No Financial Liability. No provision of this Agreement shall require the Rights Agent to expend or risk its own funds or otherwise incur any financial liability in the performance of any of its duties hereunder or in the exercise of its rights if there shall be reasonable grounds for believing that repayment of such funds or adequate indemnification against such risk or liability is not reasonably assured to it.
No Financial Liability. No provision of this Agreement (other than Sections 2.6, 2.7, 4.3(e)(i) and 4.3(f)) shall require the Manager to expend or risk its funds or otherwise incur any financial liability in the performance of any of its rights or powers hereunder, if the Manager shall have reasonable grounds for believing that repayment of such funds or adequate indemnity against such risk or liability is not compensated by the payment of the Weekly Management Fees and is otherwise not reasonably assured or provided to the Manager. The Manager shall not be liable under the Notes and shall not be responsible for any amounts required to be paid by the Issuer under or pursuant to the Indenture.
No Financial Liability. The Trustee shall be under no obligation to exercise any of the rights or powers vested in it by this Bond Indenture at the request, order or direction of any of the Bondholders pursuant to the provisions of this Bond Indenture unless such Bondholders shall have furnished to the Trustee reasonable security or indemnity against the costs, expenses and liabilities that may be incurred therein or thereby. The Trustee has no obligation or liability to the Holders for the payment of interest on, principal of or premium, if any, with respect to the Bonds from its own funds; but rather the Trustee’s obligations shall be limited to the performance of its duties hereunder.
No Financial Liability. Neither party will have any financial liability to the other in connection with any activity undertaken pursuant to this Agreement unless specifically agreed to by the parties in writing. If the parties decide to undertake an activity that is expected to require a contribution of financial resources from one or both parties, they will agree in advance, in a written agreement, to the programmatic and financial terms of such activity. Such agreement will not be subject to or governed by the terms of this Agreement unless specified by the parties.
No Financial Liability. No provision of this Agreement (other than the last sentence of clause (d) above) shall require the Master Servicer to expend or risk its funds or otherwise incur any financial liability in the performance of any of its rights or powers hereunder, if the Master Servicer shall have reasonable grounds for believing that repayment of such funds or adequate indemnity against such risk or liability is not reasonably assured or provided to it. Notwithstanding the foregoing, the Master Servicer shall be obligated to perform its obligations hereunder, consistent with the Servicing Standard, notwithstanding the fact that the Master Servicer may not be entitled to be reimbursed for all of its expenses incurred in connection with its obligations hereunder as a result of any limit on amounts payable pursuant to the definitions of Weekly Master Servicing Fee, Weekly Canadian Servicing Fee and Supplemental Master Servicing Fee.
No Financial Liability. No provision of this Agreement (other than the last sentence of paragraph (e) above) shall require the Servicer to expend or risk its funds or otherwise incur any financial liability in the performance of any of its rights or powers hereunder, if the Servicer shall have reasonable grounds for believing that repayment of such funds or adequate indemnity against such risk or liability is not reasonably assured or provided to it. Notwithstanding the foregoing, the Servicer shall be obligated to perform its obligations hereunder, consistent with the Servicing Standard, unless the Servicer determines that it is more likely than not that it will not be reimbursed for all of its expenses incurred in connection with its obligations hereunder for reasons other than as a result of any limit on amounts payable pursuant to the definitions of Weekly Servicing Fee, Supplemental Servicing Fee and the Weekly Collections Account Allocation Priority.
No Financial Liability. No provision of this Transaction Management Agreement will require the Transaction Manager to expend or risk its funds or otherwise incur any financial liability in the performance of any of its rights or powers hereunder, if the Transaction Manager has reasonable grounds for believing that repayment of such funds, or adequate indemnity against such risk or liability, is not compensated by the payment of the Transaction Management Fee or for the reimbursement of expenses and is otherwise not reasonably assured or provided to it. Further, the Transaction Manager will not be obligated to perform any services not enumerated or otherwise contemplated under this Transaction Management Agreement, unless the Transaction Manager determines that it is more likely than not that it will be reimbursed for all of its expenses incurred in connection with such performance.
