Recourse Against Certain Parties. Notwithstanding anything in this Agreement to the contrary, all amounts owed by the Issuing Entity or the Grantor Trust on, under or in respect of its obligations and liabilities under this Agreement shall be recoverable only from and to the extent of the Collateral and upon final realization of collections thereon and in accordance with Section 2.7 of the Indenture, the Issuing Entity and the Grantor Trust shall have no further liability and all claims in respect of the amounts owed but still unpaid shall be extinguished.
Appears in 25 contracts
Samples: Backup Servicing Agreement (Carvana Auto Receivables Trust 2022-P3), Administration Agreement (Carvana Auto Receivables Trust 2022-P3), Administration Agreement (Carvana Auto Receivables Trust 2022-P3)
Recourse Against Certain Parties. Notwithstanding anything in this Agreement to the contrary, all amounts owed by the Issuing Entity or the Grantor Trust on, under or in respect of its obligations and liabilities under this Agreement shall be recoverable only from and to the extent of the Collateral and upon final realization of collections thereon and in accordance with Section 2.7 of the Indenture, the Issuing Entity and the Grantor Trust shall have no further liability and all claims in respect of the amounts owed but still unpaid shall be extinguished.. * * * * *
Appears in 19 contracts
Samples: Administration Agreement (Carvana Auto Receivables Trust 2022-P1), Administration Agreement (Carvana Auto Receivables Trust 2022-P1), Administration Agreement (Carvana Auto Receivables Trust 2021-P4)
Recourse Against Certain Parties. Notwithstanding anything in this Agreement to the contrary, all amounts owed by the Issuing Entity or the Grantor Trust on, under or in respect of its obligations and liabilities under this Agreement shall be recoverable only from and to the extent of the Collateral and upon final realization of collections thereon and in accordance with Section 2.7 of the Indenture, the Issuing Entity and the Grantor Trust shall have no further liability and all claims in respect of the amounts owed but still unpaid shall be extinguished.. 11 CRVNA 2022-P2 Administration Agreement
Appears in 2 contracts
Samples: Administration Agreement (Carvana Auto Receivables Trust 2022-P2), Administration Agreement (Carvana Auto Receivables Trust 2022-P2)
Recourse Against Certain Parties. Notwithstanding anything in this Agreement to the contrary, all amounts owed by the Issuing Entity [or the Grantor Trust Trust] on, under or in respect of its obligations and liabilities under this Agreement shall be recoverable only from and to the extent of the Collateral and upon final realization of collections thereon and in accordance with Section 2.7 of the Indenture, the Issuing Entity [and the Grantor Trust Trust] shall have no further liability and all claims in respect of the amounts owed but still unpaid shall be extinguished.. * * * * *
Appears in 1 contract
Samples: Administration Agreement (Carvana Receivables Depositor LLC)
Recourse Against Certain Parties. Notwithstanding anything in this Agreement to the contrary, all amounts owed by the Issuing Entity [or the Grantor Trust ]on, under or in respect of its obligations and liabilities under this Agreement shall be recoverable only from and to the extent of the Collateral and upon final realization of collections thereon and in accordance with Section 2.7 of the Indenture, the Issuing Entity [and the Grantor Trust Trust] shall have no further liability and all claims in respect of the amounts owed but still unpaid shall be extinguished.
Appears in 1 contract
Samples: Backup Servicing (Carvana Receivables Depositor LLC)
