Certificates Nonassessable and Fully Paid. The parties agree that the Certificateholders shall not be personally liable for obligations of the Trust, that the beneficial ownership interests represented by the Certificates shall be nonassessable for any losses or expenses of the Trust or for any reason whatsoever, and that the Certificates upon execution by the Trustee on behalf of the Trust and the authentication and delivery thereof by the Trustee pursuant to Sections 2.05 or 6.01 are and shall be deemed fully paid.
Appears in 9 contracts
Samples: Pooling and Servicing Agreement (HSBC Home Equity Loan Corp I), Pooling and Servicing Agreement (HSBC Home Equity Loan Corp I), Pooling and Servicing Agreement (HFC Revolving Corp)
Certificates Nonassessable and Fully Paid. The parties agree that the Certificateholders shall not be personally liable for obligations of the Trust, that the beneficial ownership interests represented by the Certificates shall be nonassessable for any losses or expenses of the Trust or for any reason whatsoever, and that the Certificates upon execution by the Trustee on behalf of the Trust and the authentication and delivery thereof by the Trustee Administrator pursuant to Sections 2.05 or 6.01 and 5.01 are and shall be deemed fully paid.
Appears in 5 contracts
Samples: Pooling and Servicing Agreement (HSBC Home Equity Loan Trust (USA) 2006-4), Pooling and Servicing Agreement (HSBC Home Equity Loan Trust (USA) 2006-3), Pooling and Servicing Agreement (HSBC Home Equity Loan Trust (USA) 2007-1)
Certificates Nonassessable and Fully Paid. The parties agree that the Certificateholders shall not be personally liable for obligations of the Trust, that the beneficial ownership . The interests represented by the Certificates shall be nonassessable for any losses or expenses of the Trust or for any reason whatsoever, and that the Certificates and, upon execution by the Trustee on behalf of the Trust and the authentication and delivery thereof by the Trustee pursuant to Sections 2.05 Section 7.02 or 6.01 are and Section 7.03, Certificates shall be deemed fully paid.
Appears in 5 contracts
Samples: Pooling and Servicing Agreement (Nissan Auto Receivables Corp Ii), Pooling and Servicing Agreement (Nissan Auto Receivables Corp /De), Pooling and Servicing Agreement (Nissan Auto Receivables Corp /De)
Certificates Nonassessable and Fully Paid. The parties agree that the Certificateholders shall not be personally liable for obligations of the Trust, that the beneficial ownership . The interests represented by the Certificates shall be nonassessable for any losses or expenses of the Trust or for any reason whatsoever, and that the Certificates and, upon execution by the Trustee on behalf of the Trust and the authentication and delivery thereof by the Trustee pursuant to Sections 2.05 Section 5.02 or 6.01 5.03, the Certificates are and shall be deemed fully paid.
Appears in 4 contracts
Samples: Pooling and Servicing Agreement (Toyota Motor Credit Corp), Pooling and Servicing Agreement (Toyota Motor Credit Corp), Pooling and Servicing Agreement (Toyota Motor Credit Corp)
Certificates Nonassessable and Fully Paid. The parties agree that the Certificateholders shall not be personally liable for obligations of the Trust, that the beneficial ownership interests represented by the Certificates shall be nonassessable for any losses or expenses of the Trust or for any reason whatsoever, and that the Certificates upon execution by the Trustee on behalf of the Trust and the execution, authentication and delivery thereof by the Trustee pursuant to Sections 2.05 or 6.01 Section 6.1 are and shall be deemed fully paid.
Appears in 4 contracts
Samples: Pooling and Servicing Agreement (Capitol Revolving Home Equity Loan Trust 1996-1), Pooling and Servicing Agreement (Chevy Chase Bank FSB), Pooling and Servicing Agreement (Chevy Chase Bank FSB)
Certificates Nonassessable and Fully Paid. The parties agree that the Certificateholders shall not be personally liable for obligations of the Trust, that the beneficial ownership interests represented by the Certificates shall be nonassessable non-assessable for any losses or expenses of the Trust or for any reason whatsoever, and that the Certificates upon execution by the Trustee on behalf of the Trust and the execution, authentication and delivery thereof by the Trustee pursuant to Sections 2.05 or 6.01 Section 6.02 are and shall be deemed fully paid.
Appears in 4 contracts
Samples: Pooling and Servicing Agreement (Home Loan Mortgage Loan Trust 2005-1), Pooling and Servicing Agreement (Lehman Home Equity Loan Trust 2004-3), Pooling and Servicing Agreement (Lehman Abs Corp)
Certificates Nonassessable and Fully Paid. The parties agree that the Certificateholders shall not be personally liable for obligations of the Trust, that the beneficial ownership interests Fractional Undivided Interests represented by the Certificates shall be nonassessable for any losses or expenses of the Trust or for any reason whatsoever, and that the Certificates upon execution by the Trustee on behalf of the Trust and the authentication and delivery thereof by the Trustee pursuant to Sections 2.05 or 6.01 Section 7.2 are and shall be deemed fully paid.
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (Americredit Corp), Pooling and Servicing Agreement (Household Auto Receivables Corp), Pooling and Servicing Agreement (Securitized Asset Backed Receivables LLC)
Certificates Nonassessable and Fully Paid. The parties agree that the Certificateholders Holders of Certificates shall not be personally liable for obligations of the Trust, that the beneficial ownership interests represented by the Certificates shall be nonassessable for any losses or expenses of the Trust or for any reason whatsoever, and that the Certificates upon execution by the Trustee on behalf of the Trust and the execution, authentication and delivery thereof by the Trustee pursuant to Sections 2.05 or 6.01 Section 6.1 are and shall be deemed fully paid.
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (First Union Residential Securitization Transactions Inc), Pooling and Servicing Agreement (First Union Residential Securitization Transactions Inc), Pooling and Servicing Agreement (First Union Residential Securitization Transactions Inc)
Certificates Nonassessable and Fully Paid. The parties agree that the Certificateholders shall not be personally liable for obligations of the Trust, that the beneficial ownership interests represented by the Certificates shall be nonassessable for any losses or expenses of the Trust or for any reason whatsoever, and that the Certificates upon execution by the Trustee on behalf of the Trust and the execution, authentication and delivery thereof by the Trustee pursuant to Sections 2.05 or 6.01 Section 2.06 are and shall be deemed fully paid.. [SIGNATURES FOLLOW]
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (Aames Capital Corp Aames Mortgage Trust 2002-1), Pooling and Servicing Agreement (Aames Capital Corp), Pooling and Servicing Agreement (Aames Capital Corp Aames Mortgage Trust 2002-1)
Certificates Nonassessable and Fully Paid. The parties agree that the Certificateholders shall not be personally liable for obligations of the Trust, that the beneficial ownership interests represented by the Certificates shall be nonassessable for any losses or expenses of the Trust or for any reason whatsoever, and that the Certificates upon execution by the Trustee on behalf of the Trust and the execution, authentication and delivery thereof by the Trustee Securities Administrator pursuant to Sections 2.05 or 6.01 Section 6.02 are and shall be deemed fully paid.
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (Renaissance Home Equity Loan Trust 2007-3), Pooling and Servicing Agreement (Renaissance Home Equity Loan Trust 2004-4), Pooling and Servicing Agreement (Renaissance Home Equity Loan Trust 2007-3)
Certificates Nonassessable and Fully Paid. The It is the intention of the parties agree to this Agreement that the Certificateholders Holders shall not be personally liable for obligations of the Trust, that the beneficial ownership interests in the Trust represented by the Certificates shall be nonassessable for any losses or expenses of the Trust or for any reason whatsoever, whatsoever and that the Certificates upon execution by the Trustee on behalf of the Trust and the authentication and delivery thereof by the Trustee pursuant to Sections 2.05 or 6.01 SECTION 6.2 are and shall be deemed fully paid.
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (Alliance Data Systems Corp), Pooling and Servicing Agreement (World Financial Network Credit Card Master Trust), Pooling and Servicing Agreement (World Financial Network Credit Card Master Trust)
Certificates Nonassessable and Fully Paid. The It is the intention of the parties agree to this Agreement that the Certificateholders shall not be personally liable for obligations of the Trust, that the beneficial ownership interests Undivided Interests represented by the Certificates shall be nonassessable for any losses or expenses of the Trust or for any reason whatsoever, and that the Certificates upon execution by the Trustee on behalf of the Trust and the authentication and delivery thereof by the Trustee pursuant to Sections 2.05 or 6.01 2.01 and 6.02 are and shall be deemed fully paid.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (First Bankcard Master Credit Card Trust), Pooling and Servicing Agreement (First Bankcard Master Credit Card Trust)
Certificates Nonassessable and Fully Paid. The parties agree that the Certificateholders shall not be personally liable for obligations of the Trust, that the beneficial ownership . The interests represented by the Certificates shall be nonassessable for any losses or expenses of the Trust or for any reason whatsoever, and that the Certificates and, upon execution by the Trustee on behalf of the Trust and the authentication and delivery thereof by the Trustee pursuant to Sections 2.05 Section 15.02, 15.03, 15.04, 15.08, 15.09 or 6.01 15.11, the Certificates are and shall be deemed fully paid.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (American Honda Receivables Corp), Pooling and Servicing Agreement (Honda Auto Receivables 1996-a Grantor Trust)
Certificates Nonassessable and Fully Paid. The parties agree that the Certificateholders shall not be personally liable for obligations of the Trust, that the beneficial ownership interests Fractional Undivided Interests represented by the Certificates shall be nonassessable for any losses or expenses of the Trust or for any reason whatsoever, and that the Certificates upon execution by the Trustee on behalf of the Trust and the authentication and delivery thereof by the Trustee pursuant to Sections 2.05 or 6.01 SECTION 7.2 are and shall be deemed fully paid.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Painewebber Asset Acceptance Corp)
Certificates Nonassessable and Fully Paid. The parties agree that the Certificateholders shall not be personally liable for obligations of the Trust, that the beneficial ownership . The interests represented by the Certificates shall be nonassessable for any losses or expenses of the Trust or for any reason whatsoever, and that the Certificates upon execution by the Trustee on behalf of the Trust and the authentication and delivery thereof by the Trustee pursuant to Sections 2.05 or 6.01 SECTION 5.2 are and shall be deemed fully paid.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Triad Financial Corp)
Certificates Nonassessable and Fully Paid. The parties agree It is the intention of this Agreement that the Certificateholders shall not be personally liable for obligations of the TrustTrust Property, that the beneficial ownership interests represented by the Certificates shall be nonassessable for any losses or expenses of the Trust Property or for any reason whatsoever, and that the Certificates Certificates, upon execution by the Trustee on behalf of the Trust and the execution, authentication and delivery thereof by the Trustee pursuant to Sections 2.05 or 6.01 Section 2.04, are and shall be deemed fully paid.
Appears in 1 contract
Certificates Nonassessable and Fully Paid. The parties agree that the Certificateholders shall not be personally liable for obligations of the Trust, that the beneficial ownership interests represented by the Certificates shall be nonassessable for any losses or expenses of the Trust or for any reason whatsoever, and that the Certificates upon execution by the Trustee on behalf of the Trust and the authentication execution, countersignature and delivery thereof by the Trustee pursuant to Sections 2.05 or Section 6.01 are and shall be deemed fully paid.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Merrill Lynch Mort Inves Inc Providian Home Eq Ln Tr 1999-1)
Certificates Nonassessable and Fully Paid. The parties agree that the Certificateholders shall not not, except as expressly provided for herein with respect to the General Partner, be personally liable for obligations of the Trust, that the beneficial ownership fractional undivided interests in the Trust represented by the Certificates shall be nonassessable for any losses or expenses of the Trust or for any reason whatsoever, and that the Certificates upon execution by the Trustee on behalf of the Trust and the authentication and delivery thereof by the Owner Trustee pursuant to Sections 2.05 or 6.01 Section 3.3 are and shall be deemed fully paid.
Appears in 1 contract
Certificates Nonassessable and Fully Paid. The parties agree It is the intention of this Agreement that the Certificateholders shall not be personally liable for obligations of the TrustTrust Property, that the beneficial ownership interests represented by the Certificates shall be nonassessable for any losses or expenses of the Trust Property or for any reason whatsoever, and that the Certificates Certificates, upon execution by the Trustee on behalf of the Trust and the execution, authentication and delivery thereof by the Owner Trustee pursuant to Sections 2.05 or 6.01 Section 2.04, are and shall be deemed fully paid.
Appears in 1 contract
Certificates Nonassessable and Fully Paid. The parties agree that the Certificateholders shall not be personally liable for obligations of the Trust, that the beneficial ownership interests represented by the Certificates shall be nonassessable for any losses or expenses of the Trust or for any reason whatsoever, and that the Certificates upon execution by the Trustee on behalf of the Trust and the execution, authentication and delivery thereof by the Trustee pursuant to Sections 2.05 or 6.01 Section 5.01 are and shall be deemed fully paid.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities Inc)
Certificates Nonassessable and Fully Paid. The parties agree that the Certificateholders shall not not, except as expressly provided for herein with respect to the Class GP Certificateholders, be personally liable for obligations of the Trust, that the beneficial ownership fractional undivided interests in the Trust represented by the Certificates shall be nonassessable for any losses or expenses of the Trust or for any reason whatsoever, and that the Certificates upon execution by the Trustee on behalf of the Trust and the authentication and delivery thereof by the Owner Trustee pursuant to Sections 2.05 or 6.01 Section 3.3 are and shall be deemed fully paid.
Appears in 1 contract
