Common use of Owner Trustee Not Liable for Certificate or Trust Fund Clause in Contracts

Owner Trustee Not Liable for Certificate or Trust Fund. The recitals contained herein and in the Certificates (other than the signatures and countersignatures of the Owner Trustee on the Certificates) shall be taken as the statements of the Depositor, and the Owner Trustee assumes no responsibility for the correctness thereof. The Owner Trustee makes no representations as to the validity or sufficiency of this Agreement, of any Operative Agreement or of the Certificates (other than the signatures and countersignatures of the Owner Trustee on the Certificates) or the Notes, or of the Trust Fund or related documents. The Owner Trustee shall at no time have any responsibility or liability for or with respect to the legality, validity and enforceability of any assets in the Trust Fund, or the perfection and priority of any security interest created by any assets in the Trust Fund or the maintenance of any such perfection and priority, or for or with respect to the sufficiency of the Trust Fund or its ability to generate distributions to the Certificateholder under this Agreement or the Noteholders under the Indenture, including, without limitation: (a) the existence, condition and ownership of any assets in the Trust Fund; (b) the existence and enforceability of any insurance thereon; (c) the existence and contents of any assets in the Trust Fund on any computer or other record thereof; (d) the validity of the assignment of any assets in the Trust Fund to the Trust or of any intervening assignment; (e) the completeness of any assets in the Trust Fund; (f) the performance or enforcement of any assets of the Trust Fund; and (g) the compliance by the Depositor with any warranty or representation made under any Operative Agreements or in any related document or the accuracy of any such warranty or representation or any action of the Securities Administrator or the Indenture Trustee taken in the name of the Owner Trustee.