Common use of Trust Obligation Clause in Contracts

Trust Obligation. (a) No recourse may be taken, directly or indirectly, with respect to the obligations of the Issuing Entity, the Trustee or the Indenture Trustee on the Notes or under this Indenture or any certificate or other writing delivered in connection herewith or therewith, against: (i) the Indenture Trustee or the Trustee in their individual capacities, (ii) any owner of a beneficial interest in the Issuing Entity or (iii) any partner, owner, beneficiary, officer, director, employee or agent of: (a) the Indenture Trustee or the Trustee in their individual capacities, (b) any owner of a beneficial interest in the Issuing Entity, the Trustee or the Indenture Trustee or (c) any successor or assign of the Indenture Trustee or the Trustee in their individual capacities, except as any such Person may have expressly agreed (it being understood that the Indenture Trustee and the Trustee have no such obligations in their individual capacities) and except that any such partner, owner or beneficiary shall be fully liable, to the extent provided by applicable law, for any unpaid consideration for stock, unpaid capital contribution or failure to pay any installment or call owing to such entity. For all purposes of this Indenture, in the performance of any duties or obligations of the Issuing Entity hereunder, the Trustee shall be subject to, and entitled to the benefits of, Articles VI, VII and VIII of the Trust Agreement.

Trust Obligation. (a) No recourse may be taken, directly or indirectly, with respect to the obligations of the Issuing EntityIssuer, the Owner Trustee or the Indenture Trustee on the Notes or Certificates or under this Indenture or any certificate or other writing delivered in connection herewith or therewith, against: against (i) the Indenture Trustee or the Owner Trustee in their its individual capacitiescapacity, (ii) the Seller, any Certificateholder or other owner of a beneficial interest in the Issuing Entity Issuer or (iii) any partner, owner, beneficiary, agent, officer, director, employee or agent of: (a) of the Indenture Trustee or the Owner Trustee in their its individual capacitiescapacity, (b) any Certificateholder or other owner of a beneficial interest in the Issuing EntityIssuer, the Owner Trustee or the Indenture Trustee or (c) of any successor or assign of the Indenture Trustee or the Owner Trustee in their its individual capacitiescapacity, except as any such Person may have expressly agreed (it being understood that the Indenture Trustee and the Owner Trustee have no such obligations in their individual capacitiescapacity) and except that any such partner, owner or beneficiary shall be fully liable, to the extent provided by applicable law, for any unpaid consideration for stock, unpaid capital contribution or failure to pay any installment or call owing to such entity. For all purposes of this Indenture, in the performance of any duties or obligations of the Issuing Entity Issuer hereunder, the Owner Trustee shall be subject to, and entitled to the benefits of, Articles the terms and provisions of Article VI, VII and VIII of the Trust Agreement.

Trust Obligation. (a) No recourse recourse, may be taken, directly or indirectly, with respect to the obligations of the Issuing EntityTrust, the Owner Trustee or the Indenture Trustee on the Notes or under this Indenture or any certificate or other writing delivered in connection herewith or therewith, against: against (i) the Indenture Trustee or the (except as expressly stated herein regarding performance of its own obligations) Owner Trustee in their its individual capacitiescapacity, (ii) any owner manner of a beneficial interest in the Issuing Entity Trust or (iii) any partner, owner, beneficiary, agent, officer, director, employee or agent of: (a) of the Indenture Trustee or the Owner Trustee in their its individual capacitiescapacity, (b) any owner holder of a beneficial interest in the Issuing EntityTrust, the Owner Trustee or the Indenture Trustee or (c) of any successor or assign of the Indenture Trustee or the Owner Trustee in their its individual capacitiescapacity, except as any such Person may have expressly agreed (it being understood that the Indenture Trustee and the Owner Trustee have no such obligations in their individual capacitiescapacity) and except that any such partner, owner or beneficiary shall be fully liable, to the extent provided by applicable law, for any unpaid consideration for stock, unpaid capital contribution or failure to pay any installment or call owing to such entity. For all purposes of this Indenture, in the performance of any duties or obligations of the Issuing Entity Trust hereunder, the Owner Trustee shall be subject to, and entitled to the benefits of, Articles VI, VII the terms and VIII provisions of the Trust Agreement.

Trust Obligation. (a) No recourse may be taken, directly or indirectly, with respect to the obligations of the Issuing EntityIssuer, the Owner Trustee or the Indenture Trustee on the Notes or or, except as expressly provided for in Article VI hereof, under this Indenture or any certificate or other writing delivered in connection herewith or therewith, against: against (i) the Indenture Trustee or the Owner Trustee in their its individual capacitiescapacity, (ii) any owner of a beneficial interest in the Issuing Entity Issuer or (iii) any partner, owner, beneficiary, agent, officer, director, employee or agent of: (a) of the Indenture Trustee or the Owner Trustee in their its individual capacitiescapacity, (b) any owner holder of a beneficial interest in the Issuing EntityIssuer, the Owner Trustee or the Indenture Trustee or (c) of any successor or assign of the Indenture Trustee or the Owner Trustee in their its individual capacitiescapacity, except as any such Person may expressly have expressly agreed (it being understood that the Indenture Trustee and the Owner Trustee have no such obligations in their individual capacitiescapacity) and except that any such partner, owner or beneficiary shall be fully liable, to the extent provided by applicable law, for any unpaid consideration for stock, unpaid capital contribution or failure to pay any installment or call owing to such entity. For all purposes of this Indenture, in the performance of any duties or obligations of the Issuing Entity Issuer hereunder, the Owner Trustee shall be subject to, and entitled to the benefits of, the terms and provisions of Articles VI, VII and VIII of the Trust Agreement.

Trust Obligation. (a) No recourse may be taken, directly or indirectly, with respect to the obligations of the Issuing EntityIssuer, the Owner Trustee or the Indenture Trustee on the Notes or under this Indenture or any certificate or other writing delivered in connection herewith or therewith, against: against (i) the Indenture Trustee or the Owner Trustee in their its individual capacitiescapacity, (ii) the Residual Interestholder or any other owner of a beneficial interest in the Issuing Entity Issuer or (iii) any partner, owner, beneficiary, officer, director, employee or agent of: (a) of the Indenture Trustee or the Owner Trustee in their its individual capacitiescapacity, (b) the Residual Interestholder or any owner other holder of a beneficial interest in the Issuing EntityIssuer, the Owner Trustee or the Indenture Trustee or (c) of any successor or assign of the Indenture Trustee or the Owner Trustee in their its individual capacitiescapacity, except as any such Person may have expressly agreed (it being understood that the Indenture Trustee and the Owner Trustee have no such obligations in their individual capacities) and except that any such partner, owner or beneficiary shall be fully liable, to the extent provided by applicable law, for any unpaid consideration for stock, unpaid capital contribution or failure to pay any installment or call owing to such entity. For all purposes of this Indenture, in the performance of any duties or obligations of the Issuing Entity Issuer hereunder, the Owner Trustee shall be subject to, and entitled to the benefits of, Articles the terms and provisions of Article VI, VII and VIII of the Trust Agreement.

Trust Obligation. (a) No recourse may be taken, directly or indirectly, with respect to the obligations of the Issuing Entity, the Trustee or the Indenture Trustee on the Notes or under this Indenture or any certificate or other writing delivered in connection herewith or therewith, against: (i) the Indenture Trustee or the Trustee in their individual capacities, (ii) any owner of a beneficial interest in the Issuing Entity or (iii) any partner, owner, beneficiary, officer, director, employee or agent of: (a) the Indenture Trustee or the Trustee in their individual capacities, (b) any owner of a beneficial interest in the Issuing Entity, the Trustee or the Indenture Trustee or (c) any successor or assign of the Indenture Trustee or the Trustee in their individual capacities, except as any such Person may have expressly agreed (it being understood that the Indenture Trustee and the Trustee have no such obligations in their individual capacities) and except that any such partner, owner or beneficiary shall be fully liable, to the extent provided by applicable law, for any unpaid consideration for stock, unpaid capital contribution or failure to pay any installment or call owing to such entity. For all purposes of this Indenture, in the performance of any duties or obligations of the Issuing Entity hereunder, the Trustee shall be subject to, and entitled to the benefits of, Articles VI, VII and VIII of the Trust Agreement.

Trust Obligation. (a) No recourse may be taken, directly or indirectly, with respect to the obligations of the Issuing EntityIssuer, the Seller, Servicer, Owner Trustee or the Indenture Trustee on the Notes or under this Indenture or any certificate or other writing delivered in connection herewith or therewith, against: against (i) the Seller, Servicer, Indenture Trustee or the Owner Trustee in their its individual capacitiescapacity, (ii) any owner of a beneficial interest in the Issuing Entity Issuer or (iii) any partner, owner, beneficiary, agent, officer, director, employee or agent of: (a) the of Seller, Servicer, Indenture Trustee or the Owner Trustee in their its individual capacitiescapacity, (b) any owner holder of a beneficial interest in the Issuing EntityIssuer, the Seller, Servicer, Owner Trustee or the Indenture Trustee or (c) of any successor or assign of the Seller, Servicer, Indenture Trustee or the Owner Trustee in their its individual capacitiescapacity, except as any such Person may have expressly agreed (it being understood that the Indenture Trustee and the Owner Trustee have no such obligations in their individual capacitiescapacity) and except that any such partner, owner or beneficiary shall be fully liable, to the extent provided by applicable law, for any unpaid consideration for stock, unpaid capital contribution or failure to pay any installment or call owing to such entity. For all purposes of this Indenture, in the performance of any duties or obligations of the Issuing Entity Issuer hereunder, the Owner Trustee shall be subject to, and entitled to the benefits of, Articles the terms and provisions of Article VI, VII and VIII of the Trust Agreement.

Trust Obligation. (a) No recourse may be taken, directly or indirectly, with respect to the obligations of the Issuing EntityIssuer, the Owner Trustee or the Indenture Trustee on the Notes or or, except as expressly provided for in Article VI, under this Indenture or any certificate or other writing delivered in connection herewith or therewith, against: against (i) the Indenture Trustee or the Owner Trustee in their its individual capacitiescapacity, (ii) any owner of a beneficial interest in the Issuing Entity Issuer or (iii) any partner, owner, beneficiary, agent, officer, director, employee or agent of: (a) of the Indenture Trustee or the Owner Trustee in their its individual capacitiescapacity, (b) any owner holder of a beneficial interest in the Issuing EntityIssuer, the Owner Trustee or the Indenture Trustee or (c) of any successor or assign of the Indenture Trustee or the Owner Trustee in their its individual capacitiescapacity, except as any such Person may have expressly agreed (it being understood that the Indenture Trustee and the Owner Trustee have no such obligations in their individual capacitiescapacity) and except that any such partner, owner or beneficiary shall be fully liable, to the extent provided by applicable law, for any unpaid consideration for stock, unpaid capital contribution or failure to pay any installment or call owing to such entity. For all purposes of this Indenture, in the performance of any duties or obligations of the Issuing Entity Issuer hereunder, the Owner Trustee shall be subject to, and entitled to the benefits of, Articles the terms and provisions of Article VI, Article VII and Article VIII of the Trust Agreement.

Trust Obligation. (a) No recourse may be taken, directly or indirectly, with respect to the obligations of the Issuing EntityIssuer, the Owner Trustee or the Indenture Trustee on the Notes or under this Indenture or any certificate or other writing delivered in connection herewith or therewith, against: against (i) the Depositor, the Administrator, the Transferor, the Servicer, the Indenture Trustee or the Owner Trustee in their its individual capacitiescapacity, (ii) any owner of a beneficial interest in the Issuing Entity Issuer or (iii) any partner, owner, beneficiary, agent, officer, director, employee or agent of: (a) of the Indenture Trustee or the Owner Trustee in their its individual capacitiescapacity, (b) any owner holder of a beneficial interest in the Issuing EntityIssuer, the Owner Trustee or the Indenture Trustee or (c) of any successor or assign of the Indenture Trustee or the Owner Trustee in their its individual capacitiescapacity, except as any such Person may have expressly agreed (it being understood that the Indenture Trustee and the Owner Trustee have no such obligations in their individual capacitiescapacity) and except that any such partner, owner or beneficiary shall be fully liable, to the extent provided by applicable law, for any unpaid consideration for stock, unpaid capital contribution or failure to pay any installment or call owing to such entity. For all purposes of this Indenture, in the performance of any duties or obligations of the Issuing Entity Issuer hereunder, the Owner Trustee shall be subject to, and entitled to the benefits of, the terms and provisions of Articles VIIV, V, VI and VII and VIII of the Trust Agreement.

Trust Obligation. (a) No recourse may be taken, directly or indirectly, with respect to the obligations of the Issuing EntityIssuer, the Trustee Owner Trustee, [the Swap Counterparty] or the Indenture Trustee on [the Swap Agreement or] the Notes or under this Indenture or any certificate or other writing delivered in connection herewith or therewith, against: against (i) the Indenture Trustee or the Owner Trustee in their its individual capacitiescapacity, (ii) any Trust Certificateholder, (iii) any owner of a beneficial interest in the Issuing Entity Issuer or (iiiiv) any partner, owner, beneficiary, agent, officer, director, employee or agent of: (a) of the Indenture Trustee or the Owner Trustee in their its individual capacitiescapacity, (b) any owner of a beneficial interest in the Issuing EntityTrust Certificateholder, the Owner Trustee or the Indenture Trustee or (c) of any successor or assign of the Indenture Trustee or the Owner Trustee in their its individual capacitiescapacity, except as any such Person may have expressly agreed (it being understood that the Indenture Trustee and the Owner Trustee have no such obligations in their individual capacitiescapacity) and except that any such partner, owner or beneficiary shall be fully liable, to the extent provided by applicable law, for any unpaid consideration for stock, unpaid capital contribution or failure to pay any installment or call owing to such entity. For all purposes of this Indenture, in the performance of any duties or obligations of the Issuing Entity Issuer hereunder, the Owner Trustee shall be subject to, and entitled to the benefits of, the terms and provisions of Articles VISix, VII Seven and VIII Ten of the Trust Agreement.

Trust Obligation. (a) No recourse may be taken, directly or indirectly, with respect to the obligations of the Issuing EntityIssuer, the Owner Trustee or the Indenture Trustee on the Notes or under this Indenture or any certificate or other writing delivered in connection herewith or therewith, against: against (i) the Seller, (ii) Indenture Trustee or the Owner Trustee in their its individual capacitiescapacity, (iiiii) any owner of a beneficial interest in the Issuing Entity or Issuer, (iiiiv) any partner, owner, member, beneficiary, agent, officer, director, employee or agent of: (a) the of Seller, Indenture Trustee or the Owner Trustee in their its individual capacitiescapacity as such, (bv) or any owner holder of a beneficial interest in the Issuing EntityIssuer, the Seller, Owner Trustee or the Indenture Trustee or (c) of any successor or assign of the Seller, Indenture Trustee or the Owner Trustee in their its individual capacitiescapacity as such, except as any such Person may have expressly agreed (it being understood that the Indenture Trustee and the Owner Trustee have no such obligations in their individual capacitiescapacity) and except that any such partner, owner or beneficiary shall be fully liable, to the extent provided by applicable law, for any unpaid consideration for stock, unpaid capital contribution or failure to pay any installment or call owing to such entity. For all purposes of this Indenture, in the performance of any duties or obligations of the Issuing Entity Issuer hereunder, the Owner Trustee shall be subject to, and entitled to the benefits of, Articles the terms and provisions of Article VI, VII and VIII of the Trust Agreement.

Trust Obligation. (a) No recourse may be taken, directly or indirectly, with respect to the obligations of the Issuing EntityIssuer, the Trustee Owner Trustee, [the Swap Counterparty] or the Indenture Trustee on [the Swap Agreement or] the Notes or under this Indenture or any certificate or other writing delivered in connection herewith or therewith, against: against (i) the Indenture Trustee or the Owner Trustee in their its individual capacitiescapacity, (ii) any owner of a beneficial interest in the Issuing Entity Issuer or (iii) any partner, owner, beneficiary, agent, officer, director, employee or agent of: (a) of the Indenture Trustee or the Owner Trustee in their its individual capacitiescapacity, (b) any owner holder of a beneficial interest in the Issuing EntityIssuer, the Owner Trustee or the Indenture Trustee or (c) of any successor or assign of the Indenture Trustee or the Owner Trustee in their its individual capacitiescapacity, except as any such Person may have expressly agreed (it being understood that the Indenture Trustee and the Owner Trustee have no such obligations in their individual capacitiescapacity) and except that any such partner, owner or beneficiary shall be fully liable, to the extent provided by applicable law, for any unpaid consideration for stock, unpaid capital contribution or failure to pay any installment or call owing to such entity. For all purposes of this Indenture, in the performance of any duties or obligations of the Issuing Entity Issuer hereunder, the Owner Trustee shall be subject to, and entitled to the benefits of, the terms and provisions of Articles VISix, VII Seven and VIII Eight of the Trust AgreementAgreement as if specifically set forth herein.

Trust Obligation. (a) No recourse may be taken, directly or indirectly, with respect to the obligations of the Issuing EntityIssuer, the Owner Trustee or the Indenture Trustee on the Notes or or, except as expressly provided for in Article VI hereof, under this Indenture or any certificate or other writing delivered in connection herewith or therewith, against: against (i) the Indenture Trustee or the Owner Trustee in their its individual capacitiescapacity, (ii) any owner of a beneficial interest in the Issuing Entity Issuer or (iii) any partner, owner, beneficiary, agent, officer, director, employee or agent of: (a) of the Indenture Trustee or the Owner Trustee in their its individual capacitiescapacity, (b) any owner holder of a beneficial interest in the Issuing EntityIssuer, the Owner Trustee or the Indenture Trustee Trustee, or (c) of any successor or assign of the Indenture Trustee or the Owner Trustee in their its individual capacitiescapacity, except as any such Person may have expressly agreed (it being understood that the Indenture Trustee and the Owner Trustee have no such obligations in their individual capacitiescapacity) and except that any such partner, owner or beneficiary shall be fully liable, to the extent provided by applicable law, for any unpaid consideration for stock, unpaid capital contribution or failure to pay any installment or call owing to such entity. For all purposes of this Indenture, in the performance of any duties or obligations of the Issuing Entity Issuer hereunder, the Owner Trustee shall be subject to, and entitled to the benefits of, Articles the terms and provisions of Article VI, VII and VIII of the Trust Agreement.

Trust Obligation. (a) No recourse may be taken, directly ---------------- or indirectly, with respect to the obligations of the Issuing EntityIssuer, the Owner Trustee or the Indenture Trustee on the Notes or or, except as expressly provided for in Article VI hereof, under this Indenture or any certificate or other writing delivered in connection herewith or therewith, against: against (i) the Indenture Trustee or the Owner Trustee in their its individual capacitiescapacity, (ii) any owner of a beneficial interest in the Issuing Entity Issuer or (iii) any partner, owner, beneficiary, agent, officer, director, employee or agent of: (a) of the Indenture Trustee or the Owner Trustee in their its individual capacitiescapacity, (b) any owner holder of a beneficial interest in the Issuing EntityIssuer, the Owner Trustee or the Indenture Trustee or (c) of any successor or assign of the Indenture Trustee or the Owner Trustee in their its individual capacitiescapacity, except as any such Person may expressly have expressly agreed (it being understood that the Indenture Trustee and the Owner Trustee have no such obligations in their individual capacitiescapacity) and except that any such partner, owner or beneficiary shall be fully liable, to the extent provided by applicable law, for any unpaid consideration for stock, unpaid capital contribution or failure to pay any installment or call owing to such entity. For all purposes of this Indenture, in the performance of any duties or obligations of the Issuing Entity Issuer hereunder, the Owner Trustee shall be subject to, and entitled to the benefits of, the terms and provisions of Articles VI, VII and VIII of the Trust Agreement.

Trust Obligation. (a) No recourse may be taken, directly ---------------- or indirectly, with respect to the obligations of the Issuing EntityIssuer, the Owner Trustee or the Indenture Trustee on the Notes or or, except as expressly provided for in Article VI, under this Indenture or any certificate or other ---------- writing delivered in connection herewith or therewith, against: against (i) the Indenture Trustee or the Owner Trustee in their its individual capacitiescapacity, (ii) any owner of a beneficial interest in the Issuing Entity Issuer or (iii) any partner, owner, beneficiary, agent, officer, director, employee or agent of: (a) of the Indenture Trustee or the Owner Trustee in their its individual capacitiescapacity, (b) any owner holder of a beneficial interest in the Issuing EntityIssuer, the Owner Trustee or the Indenture Trustee or (c) of any successor or assign of the Indenture Trustee or the Owner Trustee in their its individual capacitiescapacity, except as any such Person may have expressly agreed (it being understood that the Indenture Trustee and the Owner Trustee have no such obligations in their individual capacitiescapacity) and except that any such partner, owner or beneficiary shall be fully liable, to the extent provided by applicable law, for any unpaid consideration for stock, unpaid capital contribution or failure to pay any installment or call owing to such entity. For all purposes of this Indenture, in the performance of any duties or obligations of the Issuing Entity Issuer hereunder, the Owner Trustee shall be subject to, and entitled to the benefits of, Articles the terms and provisions of Article VI, VII and VIII of the Trust Agreement. Section 11.16.

Trust Obligation. (a) No recourse may be taken, directly or indirectly, with respect to the obligations of the Issuing EntityIssuer, the Owner Trustee or the Indenture Trustee on the Notes or Certificates or under this Indenture or any certificate or other writing delivered in connection herewith or therewith, against: against (i) the Indenture Trustee or the Owner Trustee in their its individual capacitiescapacity, (ii) the Seller, any Certificateholder or other owner of a beneficial interest in the Issuing Entity Issuer or (iii) any partner, owner, beneficiary, agent, officer, director, employee or agent of: (a) of the Indenture Trustee or the Owner Trustee in their its individual capacitiescapacity, (b) any Certificateholder or other owner of a beneficial interest in the Issuing EntityIssuer, the Owner Trustee or the Indenture Trustee or (c) of any successor or assign of the Indenture Trustee or the Owner Trustee in their its individual capacitiescapacity, except as any such Person may have expressly agreed (it being understood that the Indenture Trustee and the Owner Trustee have no such obligations in their individual capacitiescapacity) and except that any such partner, owner or beneficiary shall be fully liable, to the extent provided by applicable law, for any unpaid consideration for stock, unpaid capital contribution or failure to pay any installment or call owing to such entity. For all purposes of this Indenture, in the performance of any duties or obligations of the Issuing Entity Issuer hereunder, the Owner Trustee shall be (Nissan 2008-B Indenture) subject to, and entitled to the benefits of, Articles the terms and provisions of Article VI, VII and VIII of the Trust Agreement.

Trust Obligation. (a) No recourse may be taken, ---------------- directly or indirectly, with respect to the obligations of the Issuing EntityIssuer, the Owner Trustee or the Indenture Trustee on the Notes or or, except as expressly provided for in Article VI hereof, under this Indenture or any certificate or other ---------- writing delivered in connection herewith or therewith, against: against (i) the Indenture Trustee or the Owner Trustee in their its individual capacitiescapacity, (ii) any owner of a beneficial interest in the Issuing Entity Issuer or (iii) any partner, owner, beneficiary, agent, officer, director, employee or agent of: (a) of the Indenture Trustee or the Owner Trustee in their its individual capacitiescapacity, (b) any owner holder of a beneficial interest in the Issuing EntityIssuer, the Owner Trustee or the Indenture Trustee or (c) of any successor or assign of the Indenture Trustee or the Owner Trustee in their its individual capacitiescapacity, except as any such Person may expressly have expressly agreed (it being understood that the Indenture Trustee and the Owner Trustee have no such obligations in their individual capacitiescapacity) and except that any such partner, owner or beneficiary shall be fully liable, to the extent provided by applicable law, for any unpaid consideration for stock, unpaid capital contribution or failure to pay any installment or call owing to such entity. For all purposes of this Indenture, in the performance of any duties or obligations of the Issuing Entity Issuer hereunder, the Owner Trustee shall be subject to, and entitled to the benefits of, the terms and provisions of Articles VI, VII and VIII of the Deposit Trust Agreement.

Trust Obligation. (a) No recourse may be taken, directly or indirectly, with respect to the obligations of the Issuing EntityIssuer, the Owner Trustee or the Indenture Trustee on the Notes or under this Indenture or any certificate or other writing delivered in connection herewith or therewith, against: against (i) the Indenture Trustee or the Owner Trustee in their its individual capacitiescapacity, (ii) any owner of a beneficial interest in the Issuing Entity Issuer or (iii) any partner, owner, beneficiary, agent, officer, director, employee or agent of: (a) of the Indenture Trustee or the Owner Trustee in their its individual capacitiescapacity, (b) any owner holder of a beneficial interest in the Issuing EntityIssuer, the Owner Trustee or the Indenture Trustee or (c) of any successor or assign of the Indenture Trustee or the Owner Trustee in their its individual capacitiescapacity, except as any such Person may have expressly agreed (it being understood that the Indenture Trustee and the Owner Trustee have no such obligations in their individual capacities) and except that any such partner, owner or beneficiary shall be fully liable, to the extent provided by applicable law, for any unpaid consideration for stock, unpaid capital contribution or failure to pay any installment or call owing to such entitycapacity). For all purposes of this Indenture, in the performance of any duties or obligations of the Issuing Entity Issuer hereunder, the Owner Trustee shall be subject to, and entitled to the benefits of, the terms and provisions of Articles VI, VII and VIII of the Trust Agreement.

Trust Obligation. (a) No recourse may be taken, directly or ---------------- indirectly, with respect to the obligations of the Issuing EntityIssuer, the Owner Trustee or the Indenture Trustee on the Notes or under this Indenture or any certificate or other writing delivered in connection herewith or therewith, against: against (i) the Indenture Trustee or the Owner Trustee in their its individual capacitiescapacity, (ii) the Residual Interestholder or any other owner of a beneficial interest in the Issuing Entity Issuer or (iii) any partner, owner, beneficiary, officer, director, employee or agent of: (a) of the Indenture Trustee or the Owner Trustee in their its individual capacitiescapacity, (b) the Residual Interestholder or any owner other holder of a beneficial interest in the Issuing EntityIssuer, the Owner Trustee or the Indenture Trustee or (c) of any successor or assign of the Indenture Trustee or the Owner Trustee in their its individual capacitiescapacity, except as any such Person may have expressly agreed (it being understood that the Indenture Trustee and the Owner Trustee have no such obligations in their individual capacities) and except that any such partner, owner or beneficiary shall be fully liable, to the extent provided by applicable law, for any unpaid consideration for stock, unpaid capital contribution or failure to pay any installment or call owing to such entity. For all purposes of this Indenture, in the performance of any duties or obligations of the Issuing Entity Issuer hereunder, the Owner Trustee shall be subject to, and entitled to the benefits of, Articles the terms and provisions of Article VI, VII and VIII of the Trust Agreement.

Trust Obligation. (a) No recourse may be taken, directly or indirectly, with respect to the obligations of the Issuing EntityIssuer, the Seller, Servicer, Owner Trustee or the Indenture Trustee on the Notes or under this Indenture or any certificate or other writing delivered in connection herewith or therewith, against: against (i) the Seller, Servicer, Indenture Trustee or the Owner Trustee in their its individual capacitiescapacity, (ii) any owner of a beneficial interest in the Issuing Entity Issuer or (iii) any partner, owner, beneficiary, agent, officer, director, employee or agent of: (a) the of Seller, Servicer, Indenture Trustee or the Owner Trustee in their its individual capacitiescapacity, (b) any owner holder of a beneficial interest in the Issuing EntityIssuer, the Seller, Servicer, Owner Trustee or the Indenture Trustee or (c) of any successor or assign of the Seller, Servicer, Indenture Trustee or the Owner Trustee in their its individual capacitiescapacity, except as any such Person may have expressly agreed (it being understood that the Indenture Trustee and the Owner Trustee have no such obligations in their individual capacitiescapacity) and except that any such partner, owner or beneficiary shall be fully liable, to the extent provided by applicable law, for any unpaid consideration for stock, unpaid capital contribution or 58 66 failure to pay any installment or call owing to such entity. For all purposes of this Indenture, in the performance of any duties or obligations of the Issuing Entity Issuer hereunder, the Owner Trustee shall be subject to, and entitled to the benefits of, Articles the terms and provisions of Article VI, VII and VIII of the Trust Agreement.