Common use of Acceptance of Duties Clause in Contracts

Acceptance of Duties. The Owner Trustee accepts the trusts xxxxxx continued and agrees to perform its duties with respect to such trusts, but only upon the terms of this Agreement. The Owner Trustee also agrees to disburse all monies actually received by it constituting part of the Trust Property upon the terms set forth in the Basic Documents. The Owner Trustee shall not be answerable or accountable hereunder or under any other Basic Document under any circumstances, except (i) for its own willful misconduct, bad faith or gross negligence or (ii) in the case of the inaccuracy of any representation or warranty contained in Section 7.03 expressly made by the Owner Trustee, in its individual capacity. In particular, but not by way of limitation (and subject to the exceptions set forth in the preceding sentence):

Appears in 15 contracts

Samples: Trust Agreement (Daimler Trucks Retail Trust 2024-1), Trust Agreement (Daimler Trucks Retail Trust 2024-1), Trust Agreement (Mercedes-Benz Auto Receivables Trust 2024-1)

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Acceptance of Duties. The Owner Trustee accepts the trusts xxxxxx hereby continued and agrees to perform its duties with respect to such trusts, but only upon the terms of this Agreement. The Owner Trustee also agrees to disburse all monies actually received by it constituting part of the Trust Property upon the terms set forth in the Basic Documents. The Owner Trustee shall not be answerable or accountable hereunder or under any other Basic Document under any circumstances, except (i) for its own willful misconduct, bad faith or gross negligence or (ii) in the case of the inaccuracy of any representation or warranty contained in Section 7.03 expressly made by the Owner Trustee, in its individual capacity. In particular, but not by way of limitation (and subject to the exceptions set forth in the preceding sentence):

Appears in 12 contracts

Samples: Trust Agreement (Mercedes-Benz Auto Receivables Trust 2016-1), Trust Agreement (Mercedes-Benz Auto Receivables Trust 2016-1), Trust Agreement (Mercedes-Benz Auto Receivables Trust 2015-1)

Acceptance of Duties. The Owner Trustee accepts the trusts xxxxxx hereby continued and agrees to perform its duties with respect to such trusts, but only upon the terms of this Agreement. The Owner Trustee also agrees to disburse all monies actually received by it constituting part of the Trust Property upon the terms set forth in the Basic Documents. The Owner Trustee shall not be answerable or accountable hereunder or under any other Basic Document under any circumstances, except (i) for its own willful misconduct, bad faith or gross negligence or (ii) in the case of the inaccuracy of any representation or warranty contained in Section 7.03 expressly made by the Owner Trustee, in its individual capacity. In particular, but not by way of limitation (and subject to the exceptions set forth in the preceding sentence):

Appears in 12 contracts

Samples: Trust Agreement (Mercedes-Benz Auto Receivables Trust 2021-1), Trust Agreement (Mercedes-Benz Auto Receivables Trust 2021-1), Trust Agreement (Mercedes-Benz Auto Receivables Trust 2020-1)

Acceptance of Duties. The Owner Trustee accepts the trusts xxxxxx trust hereby continued and agrees to perform its duties with respect to such trustshereunder, but only upon the terms of this Agreement. The Owner Trustee also agrees to disburse all monies actually received by it in accordance with the Basic Documents and constituting part of the Owner Trust Property Estate upon the terms set forth in the Basic Documentsof this Agreement. The Owner Trustee shall not be answerable or accountable hereunder or under any other Basic Document under any circumstances, except (i) for its own willful misconduct, bad faith or gross negligence or (ii) in the case of the inaccuracy of any representation or warranty contained in Section 7.03 expressly made by the Owner Trustee, in its individual capacity. In particular, but not by way of limitation (and subject to the exceptions set forth in the preceding sentence):

Appears in 11 contracts

Samples: Trust Agreement (Wachovia Auto Owner Trust 2008-A), Trust Agreement (Wachovia Auto Loan Owner Trust 2007-1), Trust Agreement (WDS Receivables LLC)

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Acceptance of Duties. The Owner Trustee accepts the trusts xxxxxx hereby continued and agrees to perform its duties with respect to such trusts, but only upon the terms of this Agreement. The Owner Trustee also agrees to disburse all monies actually received by it constituting part of the Owner Trust Property Estate upon the terms set forth in the Basic Documents. The Owner Trustee shall not be answerable or accountable hereunder or under any other Basic Document under any circumstances, except (i) for its own willful misconduct, bad faith or gross negligence or (ii) in the case of the inaccuracy of any representation or warranty contained in Section 7.03 expressly made by the Owner Trustee, in its individual capacity. In particular, but not by way of limitation (and subject to the exceptions set forth in the preceding sentence):

Appears in 1 contract

Samples: Trust Agreement (Daimler Retail Receivables LLC)

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