Organizational Expenses; Liabilities of the Holders Clause Samples

Organizational Expenses; Liabilities of the Holders. (a) Depositor shall pay organizational expenses of Issuer as they may arise or shall, upon the request of Owner Trustee, promptly reimburse Owner Trustee for any such expenses paid by Owner Trustee. (b) No Holder or Owner shall have any personal liability for any liability or obligation of the Trust.

Organizational Expenses; Liabilities of the Holders. (a) The Servicer shall pay organizational expenses of the Grantor Trust as they may arise. (b) No Grantor Trust Certificateholder (including the Grantor Trust Seller if the Grantor Trust Seller becomes a Grantor Trust Certificateholder) shall have any personal liability for any liability or obligation of the Grantor Trust.

Organizational Expenses; Liabilities of the Holders. (a) The Servicer shall pay organizational expenses of the Issuer as they may arise.

Organizational Expenses; Liabilities of the Holders. (a) The Depositor shall cause the Seller to pay organizational expenses of the Issuer as they may arise or shall, pursuant to Section 2(a)(v)(F) of the Administration Agreement, upon the request of the Owner Trustee, promptly reimburse the Owner Trustee for any such expenses paid by the Owner Trustee. (b) Neither the Depositor (except as otherwise provided herein) nor any Certificateholder (including the Seller if it is a Certificateholder) shall have any personal liability for any liability or obligation of the Issuer. The Depositor and the Certificateholders shall be entitled to the same limitation of personal liability extended to stockholders of corporations organized for profit under the Delaware General Corporation Law.

Organizational Expenses; Liabilities of the Holders. (a) The Seller shall pay organizational expenses of the Issuer as they may arise, including, without limitation, the commitment fee to the initial Holder of the Revolving Liquidity Note required to be paid pursuant to Section 4.1 of the Revolving Liquidity Note Agreement. (b) No Residual Interestholder (including the Seller, if the Seller is or becomes a Residual Interestholder) shall have any personal liability for any liability or obligation of the Issuer.

Organizational Expenses; Liabilities of the Holders. Trust Agreement (a) The Servicer shall pay organizational expenses of the Issuer as they may arise. (b) No Residual Interestholder (including the Seller) shall have any personal liability for any liability or obligation of the Issuer.