Certificate Nonassessable and Fully Paid. The Certificateholder shall not be personally liable for obligations of the Trust, the undivided beneficial interest in the assets of the Trust, whether fractional or whole, represented by a Certificate shall be nonassessable for any losses or expenses of the Trust or for any reason whatsoever, and each Certificate upon execution thereof by the Owner Trustee and authentication thereof by the Authentication Agent, in each case pursuant to Section 3.3, are and shall be deemed fully paid and nonassessable.
Appears in 7 contracts
Samples: Trust Agreement (Education Capital I LLC), Trust Agreement (Education Capital I LLC), Trust Agreement (Education Capital I LLC)
Certificate Nonassessable and Fully Paid. The Certificateholder shall not be personally liable for obligations of the Trust, the undivided beneficial interest in the assets of the Trust, whether fractional or whole, . The interests represented by a the Certificate shall be nonassessable for any losses or expenses of the Trust or for any reason whatsoever, and each Certificate and, upon execution authentication thereof by the Owner Trustee and authentication thereof by the Authentication Agent, in each case pursuant to Section 3.311.02, are and the Certificate shall be deemed fully paid and nonassessablepaid.
Appears in 7 contracts
Samples: Trust and Servicing Agreement (Uacsc Auto Trusts Uacsc 1999-D Owner Trust Auto Rec Bac Note), Trust and Servicing Agreement (Uacsc 2000-a Owner Trust Auto Rec Backed Notes), Trust and Servicing Agreement (Uacsc 1999-B Owner Tr Auto Rec Bk Notes)
Certificate Nonassessable and Fully Paid. The Certificateholder shall not be personally liable for obligations of the Trust, the undivided beneficial interest in the assets of the Trust, whether fractional or whole, represented by a Certificate shall be nonassessable for any losses or expenses of the Trust or for any reason whatsoever, and each Certificate upon execution thereof by the Owner Delaware Trustee and authentication thereof by the Authentication Agent, in each case pursuant to Section 3.33.3 hereof, are and shall be deemed fully paid and nonassessable.
Appears in 4 contracts
Samples: Trust Agreement (Student Loan Funding LLC), Trust Agreement (Student Loan Funding LLC), Trust Agreement (Student Loan Funding LLC)
Certificate Nonassessable and Fully Paid. The Certificateholder shall not be personally liable for obligations of the Trust, the undivided beneficial interest in the assets of the Trust, whether fractional or whole, . The interests represented by a the Certificate shall be nonassessable for any losses or expenses of the Trust or for any reason whatsoever, and each Certificate and, upon execution authentication thereof by the Owner Trustee and authentication thereof by the Authentication Agent, in each case pursuant to Section 3.311.02, are and the Certificate shall be deemed fully paid and nonassessable.
Appears in 3 contracts
Samples: Trust and Servicing Agreement (Uacsc 2002-a Owner TRST Auto Receivable Back Nt), Trust and Servicing Agreement (Uacsc 2001-a Owner Trust), Trust and Servicing Agreement (Uacsc 2001-C Owner Trust)
Certificate Nonassessable and Fully Paid. The Certificateholder Owner shall not be personally liable for obligations of the Trust, the undivided beneficial interest in the assets of the Trust, whether fractional or whole, . The interests represented by a the Trust Certificate shall be nonassessable for any losses or expenses of the Trust or for any reason whatsoever, and each Certificate and, upon execution thereof by the Owner Trustee and authentication thereof by the Authentication Agent, in each case pursuant to Section 3.33.03, are and the Trust Certificate shall be deemed fully paid and nonassessablepaid.
Appears in 1 contract
Certificate Nonassessable and Fully Paid. The Certificateholder shall not be personally liable for obligations of the Trust, the undivided beneficial interest in the assets of the Trust, whether fractional or whole, . The interests represented by a the Certificate shall be nonassessable for any losses or expenses of the Trust or for any reason whatsoever, and each Certificate and, upon execution authentication thereof by the Owner Trustee and authentication thereof by the Authentication Agent, in each case pursuant to Section 3.310.02, are and the Certificate shall be deemed fully paid and nonassessablepaid.
Appears in 1 contract
Samples: Trust and Servicing Agreement (United Fidelity Finance LLC)
