LIMITATION OF LIABILITY OF. [_______________], Eligible Lender Trustee and Indenture Trustee. (a) Notwithstanding anything contained herein to the contrary (other than as provided in subsection (d)), this Agreement has been signed by [_______________] not in its individual capacity but solely in its capacity as trustee for the Seller and in no event shall [_______________] in its individual capacity or, except as expressly provided herein or in the Instrument of Resignation, Appointment and Acceptance dated [_____________] in connection with the trust agreement between Seller and [_____________], dated [_______________], as legal owner of the Financed Student Loans, have any liability for representations, warranties, covenants, agreements or other obligations of the Seller hereunder or in any of the certificates, notices or agreements delivered by the Seller pursuant hereto as to all of which recourse shall be had solely against the Seller.
LIMITATION OF LIABILITY OF. ADVISER You may rely on information reasonably believed by you to be accurate and reliable. Except as may otherwise be required by the Investment Company Act of 1940 or the rules thereunder, neither you nor your shareholders, officers, directors, employees, agents, control persons or affiliates of any thereof shall be subject to any liability for, or any damages, expenses or losses incurred by the Trust in connection with, any error of judgment, mistake of law, any act or omission connected with or arising out of any services rendered under or payments made pursuant to this Agreement or any other matter to which this Agreement relates, except by reason of willful misfeasance, bad faith or gross negligence on the part of any such persons in the performance of your duties under this Agreement or by reason of reckless disregard by any of such persons of your obligations and duties under this Agreement. Any person, even though also a director, officer, employee, shareholder or agent of you, who may be or become an officer, director, trustee, employee or agent of the Trust, shall be deemed, when rendering services to the Trust or acting on any business of the Trust (other than services or business in connection with your duties hereunder), to be rendering such services to or acting solely for the Trust and not as a director, officer, employee, shareholder or agent of you, or one under your control or direction, even though paid by you.
LIMITATION OF LIABILITY OF. (owner trustee). ------------------------------------------ It is expressly understood and agreed by the parties hereto that (a) this Agreement is executed and delivered by (owner trustee), not individually or personally but solely as owner trustee of (________________) Home Equity Loan Trust 199_ under the Trust Agreement, in the exercise of the powers and authority conferred and vested in it, (b) each of the representations, undertakings and agreements herein made on the part of the Issuer is made and intended not as personal representations, undertakings and agreements by (owner trustee) but is made and intended for the purpose for binding only the Issuer, (c) nothing herein contained shall be construed as creating any liability on (owner trustee), other than any liability arising out of its gross negligence, bad faith or willful misconduct, and (d) under no circumstances shall (owner trustee) be personally liable for the payment of any indebtedness or expenses of the Issuer or be liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken by the Issuer under this Agreement or the other Operative Documents.
LIMITATION OF LIABILITY OF. HOLDERS OF SECURITIES, DELAWARE TRUSTEES OR OTHERS........................ 50 Section 9.1 Liability.................................................................................... 50 Section 9.2 Exculpation.................................................................................. 50 Section 9.3
LIMITATION OF LIABILITY OF. It is expressly understood and agreed by the parties hereto that (a) this Indenture is executed and delivered by ________________________, not individually or personally but solely as owner trustee of ________________________ under the Deposit Trust Agreement, in the exercise of the powers and authority conferred and vested in it as Owner Trustee, (b) each of the representations, undertakings and agreements herein made on the part of the Issuer is made and intended not as personal representations, undertakings and agreements by ________________________, but is made and intended for the purpose for binding only the Issuer, (c) nothing herein contained shall be construed as creating any liability on ________________________, individually or personally, to perform any covenant either expressed or implied contained herein, all such liability, if any being expressly waived by the Trustee, [the Insurer,] and the Noteholders and by any Person claiming by, through or under the Trustee, [the Insurer,] and the Noteholders and (d) under no circumstances shall ________________________ be personally liable for the payment of any indebtedness or expenses of the Issuer or be liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken by the Issuer under this Indenture or the other Operative Agreements.
LIMITATION OF LIABILITY OF. It is expressly understood and agreed by the parties hereto that (a) this Agreement is executed and delivered by , not individually or personally but solely as owner trustee of Sequoia Trust 200_-___under the Deposit Trust Agreement, in the exercise of the powers and authority conferred and vested in it, (b) each of the representations, undertakings and agreements herein made on the part of the Trust is made and intended not as personal representations, undertakings and agreements by but is made and intended for the purpose for binding only the Trust, (c) nothing herein contained shall be construed as creating any liability on , other than any liability arising out of its gross negligence, bad faith or willful misconduct, and (d) under no circumstances shall be personally liable for the payment of any indebtedness or expenses of the Trust or be liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken by the Trust under this Agreement or the other Operative Documents.
LIMITATION OF LIABILITY OF. HOLDERS OF SECURITIES, TRUSTEES OR OTHERS
LIMITATION OF LIABILITY OF. It is expressly understood and agreed by the parties hereto that (a) this Agreement is executed and delivered by _________________________ _____________________________, not individually or personally but solely as owner trustee of American Residential Eagle Bond Trust [199__-__] under the Deposit Trust Agreement, in the exercise of the powers and authority conferred and vested in it, (b) each of the representations, undertakings and agreements herein made on the part of the Trust is made and intended not as personal representations, undertakings and agreements by _____________________ but is made and intended for the purpose for binding only the Trust, (c) nothing herein contained shall be construed as creating any liability on __________________________________, other than any liability arising out of its gross negligence, bad faith or willful misconduct, and (d) under no circumstances shall _____________________________ be personally liable for the payment of any indebtedness or expenses of the Trust or be liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken by the Trust under this Agreement or the other Operative Documents.
LIMITATION OF LIABILITY OF. It is expressly understood and agreed by the parties hereto that (a) this Indenture is executed and delivered by Wilmington Trust Company not individually or personally but solely as owner trustee of Sequoia Mortgage Trust 7 under the Deposit Trust Agreement, in the exercise of the powers and authority conferred and vested in it, (b) each of the representations, undertakings and agreements herein made on the part of the Issuer is made and intended not as personal representations, undertakings and agreements by [___], but is made and intended for the purpose for binding only the Issuer, and (c) under no circumstances shall [___] be personally liable for the payment of any indebtedness or expenses of the Issuer or be liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken by the Issuer under this Indenture or the other Operative Agreements.
LIMITATION OF LIABILITY OF. HOLDERS OF SECURITIES, INSTITUTIONAL TRUSTEE OR OTHERS ------------------------------------------------------
