Common use of Certain Obligations Not Recourse to AmeriCredit Clause in Contracts

Certain Obligations Not Recourse to AmeriCredit. Notwithstanding any provision of Section 3.3 or Section 3.5 to the contrary, the payment obligations provided in Section 3.3(a), 3.3(b)(ii) and 3.3(d) (to the extent of advances to the Trustee in respect of payments on the Securities), and any interest on the foregoing in accordance with Section 3.3(c), and the indemnification obligation provided in Section 3.5(a)(ii)(B) shall not be recourse to any AmeriCredit Party, but shall be payable in the manner and in accordance with priorities provided in the Sale and Servicing Agreement in each case, to the extent that such payment obligations do not arise from any failure or default in performance by an AmeriCredit Party of any of its obligations under the Transaction Documents.

Appears in 4 contracts

Samples: Insurance and Indemnity Agreement (AmeriCredit Automobile Receivables Trust 2007-D-F), Insurance and Indemnity Agreement (AFS SenSub Corp.), Insurance and Indemnity Agreement (AmeriCredit Automobile Receivables Trust 2008-a-F)

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Certain Obligations Not Recourse to AmeriCredit. Notwithstanding any provision of Section 3.3 or Section 3.5 to the contrary, the payment obligations provided in Section 3.3(a), 3.3(b)(ii) and 3.3(d) (to the extent of advances to the Trustee in respect of payments on the Securities), and any interest on the foregoing in accordance with Section 3.3(c), and the indemnification obligation provided in Section 3.5(a)(ii)(B) shall not be recourse to any AmeriCredit Party, but shall be payable in the manner and in accordance with priorities provided in the Sale and Servicing Agreement in each case, to the extent that such payment obligations do not arise from any failure or default in performance by an AmeriCredit Party of any of its obligations under the Transaction Documents, and any interest on the foregoing in accordance with Section 3.3(c), shall not be recourse to AmeriCredit, but shall be payable in the manner and in accordance with priorities provided in the Sale and Servicing Agreement.

Appears in 2 contracts

Samples: Insurance and Indemnity Agreement (AmeriCredit Automobile Receivables Trust 2004-D-F), Insurance and Indemnity Agreement (Americredit Automobile Receivables Trust 2005-C-F)

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