Regarding the Owner Trustee. Owner Participant will cause Owner Trustee to perform its obligations under each Owner Trustee Agreement.
Regarding the Owner Trustee. 22 Section 7.1 Acceptance of Trusts and Duties 22 Section 7.2 Furnishing of Documents 23 Section 7.3 Representations and Warranties 24 Section 7.4 Reliance; Advice of Counsel 24 Section 7.5 Not Acting in Individual Capacity 25 Section 7.6 Owner Trustee Not Liable for Certificates or Receivables 25 Section 7.7 Owner Trustee May Own Certificates and Notes 25 Section 7.8 Regulation AB 25
Regarding the Owner Trustee. (a) Except as expressly --------------------------- provided herein, all and each of the representations, warranties, undertakings and agreements herein made on the part of the Owner Trustee are made and intended not as personal representations, warranties, undertakings and agreements by or for the purpose or with the intention of binding the Owner Trustee personally but are made and intended for the purpose of binding only the Trust Estate, and this Indenture is executed and delivered by the Owner Trustee solely in the exercise of the powers expressly conferred upon it as trustee under the Trust Agreement; and no personal liability or responsibility is assumed hereunder by, or at any time shall be enforceable against, the Owner Trustee or any successor in trust on account of any representation, warranty, undertaking or agreement hereunder of the Owner Trustee, either expressed or implied, all such personal liability, if any, being expressly waived by the Indenture Trustee; provided, however, that -------- ------- (a) the Indenture Trustee or any Person claiming by, through or under it, making claim hereunder, may subject to the terms and conditions hereof, look to the Trust Estate for satisfaction of such liability or responsibility and (b) the Owner Trustee or its successor in trust, as applicable, shall be personally liable, for its own gross negligence and willful misconduct and for the matters described in clauses (i) through (v) of the last sentence of Section 7.1 of the Trust Agreement and the provisos contained in Section 17.10(b) of the Participation Agreement. Subject to the terms and conditions hereof, each time a successor Owner Trustee is appointed in accordance with the terms of the Trust Agreement, such successor Owner Trustee shall, without further act, succeed to all the rights, duties, immunities and obligations of its predecessor Owner Trustee hereunder and under the other Operative Documents, and the predecessor Owner Trustee shall be released from all further duties and obligations hereunder and under the other Operative Documents, all without the necessity of any consent or approval by the Indenture Trustee and without in any way altering the terms of this Indenture or such other Operative Documents or the obligations of the Indenture Trustee hereunder or thereunder.
Regarding the Owner Trustee. Section 7.1 Acceptance of Trusts and Duties.....................................................22 Section 7.2 Furnishing of Documents.............................................................23 Section 7.3