Certificates Nonassessable and Fully Paid. The Certificateholders shall not be personally liable for the obligations of the Trust. The interests represented by the Certificates shall be nonassessable for any losses or expenses of the Trust or for any reason whatsoever, and, upon the authentication thereof by the Owner Trustee pursuant to Section 3.3, Section 3.4 or Section 3.5, the Certificates are and shall be deemed fully paid.
Appears in 94 contracts
Samples: Trust Agreement (Carmax Auto Funding LLC), Trust Agreement (CarMax Auto Owner Trust 2024-4), Trust Agreement (Carmax Auto Funding LLC)
Certificates Nonassessable and Fully Paid. The Certificateholders shall not be personally liable for the obligations of the Trust. The interests represented by the Certificates shall be nonassessable for any losses or expenses of the Trust or for any reason whatsoever, and, upon the authentication thereof by the Owner Trustee pursuant to Section 3.3, Section 3.4 or Section 3.53.03, the Certificates are and shall be deemed fully paid.
Appears in 29 contracts
Samples: Trust Agreement (WFS Financial 1997-a Owners Trust), Trust Agreement (WFS Receivables Corp), Trust Agreement (WFS Receivables Corp)
Certificates Nonassessable and Fully Paid. The Certificateholders shall not be personally liable for the obligations of the Trust. The interests represented by the Certificates shall be nonassessable for any losses or expenses of the Trust or for any reason whatsoever, and, upon the authentication thereof by the Owner Trustee pursuant to Section 3.3, Section 3.4 or Section 3.5, the Certificates are and shall be deemed fully paid.
Appears in 20 contracts
Samples: Trust Agreement (CarMax Auto Owner Trust 2011-3), Trust Agreement (CarMax Auto Owner Trust 2011-2), Trust Agreement (Carmax Auto Funding LLC)
Certificates Nonassessable and Fully Paid. The Certificateholders shall not be personally liable for the obligations of the Trust. The interests represented by the Certificates shall be nonassessable for any losses or expenses of the Trust or for any reason whatsoever, and, upon the authentication thereof by the Owner Trustee pursuant to Section 3.3, Section 3.4 or Section 3.5, the Certificates are and shall be deemed fully paid.
Appears in 19 contracts
Samples: Pooling and Servicing Agreement (Morgan Stanley Abs Capital Ii Inc), Pooling and Servicing Agreement (Asta Funding Inc), Pooling and Servicing Agreement (Bear Stearns Asset Backed Funding Inc)
Certificates Nonassessable and Fully Paid. The Certificateholders shall not be personally liable for the obligations of the Trust. The interests represented by the Certificates shall be nonassessable for any losses or expenses of the Trust or for any reason whatsoever, and, upon the authentication thereof by the Owner Trustee pursuant to Section 3.311.02, Section 3.4 or Section 3.5, the Certificates are and shall be deemed fully paid.
Appears in 9 contracts
Samples: Pooling and Servicing Agreement (Uacsc 1997-D Auto Trust), Pooling and Servicing Agreement (Bay View Securitization Corp), Pooling and Servicing Agreement (Uacsc 1998-C Auto Trust)
Certificates Nonassessable and Fully Paid. The Certificateholders shall not be personally liable for the obligations of the Trust. The interests represented by the Certificates shall be nonassessable for any losses or expenses of the Trust or for any reason whatsoever, and, upon the authentication thereof by the Owner Trustee pursuant to Section 3.36.2, Section 3.4 or Section 3.5, the Certificates are and shall be deemed fully paid.
Appears in 7 contracts
Samples: Pooling and Servicing Agreement (Chevy Chase Bank FSB), Pooling and Servicing Agreement (Chevy Chase Bank FSB), Pooling and Servicing Agreement (Chevy Chase Bank FSB)
Certificates Nonassessable and Fully Paid. The Certificateholders shall not be personally liable for the obligations of the Trust. The interests represented by the Certificates shall be nonassessable for any losses or expenses of the Trust or for any reason whatsoever, and, upon the authentication thereof by the Owner Trustee pursuant to Section 3.35.2, Section 3.4 or Section 3.5, the Certificates are and shall be deemed fully paid.
Appears in 6 contracts
Samples: Pooling and Servicing Agreement (Onyx Acceptance Financial Corp), Pooling and Servicing Agreement (Onyx Acceptance Grantor Trust 1997-3), Pooling and Servicing Agreement (Onyx Acceptance Grantor Trust 1997-4)
Certificates Nonassessable and Fully Paid. The Certificateholders shall not be personally liable for the obligations of the Trust. The interests represented by the Certificates shall be nonassessable for any losses or expenses of the Trust or for any reason whatsoever, and, upon the authentication thereof by the Owner Trustee pursuant to Section 3.3, Section 3.4 or Section 3.53.03, the Certificates are and shall be deemed fully paid.. ARTICLE FOUR
Appears in 6 contracts
Samples: Trust Agreement (WFS Receivables Corp 4), Trust Agreement (WFS Financial 2005-1 Owner Trust), Trust Agreement (WFS Receivables Corp 3)
Certificates Nonassessable and Fully Paid. The Certificateholders Owners shall not be personally liable for the obligations of the Trust. The Except as expressly provided herein, the interests represented by the Trust Certificates shall be nonassessable for any losses or expenses of the Trust or for any reason whatsoever, and, upon the authentication thereof by the Owner Trustee pursuant to Section 3.3, Section 3.4 or Section 3.53.03, the Trust Certificates are and shall be deemed fully paid.
Appears in 5 contracts
Samples: Trust Agreement (Onyx Acceptance Financial Corp), Trust Agreement (Onyx Acceptance Financial Corp), Trust Agreement (Onyx Acceptance Financial Corp)
Certificates Nonassessable and Fully Paid. The Certificateholders shall not be personally liable for the obligations of the Trust. The 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, and Certificates upon the authentication execution thereof by the Owner Trustee pursuant to Section 3.3, Section 3.4 or Section 3.5, the Certificates 3.3 are and shall be deemed fully paid.
Appears in 5 contracts
Samples: Trust Agreement (Green Tree Financial Corp), Trust Agreement (Conseco Finance Securitizations Corp), Trust Agreement (Conseco Finance Corp)
Certificates Nonassessable and Fully Paid. The Certificateholders shall not be personally liable for the obligations of the Trust. The interests represented by the Certificates shall be nonassessable for any losses or expenses of the Trust or for any reason whatsoever, and, upon the authentication thereof by the Owner Trustee pursuant to Section 3.3, Section 3.4 7.02 or Section 3.57.03, the Certificates are and shall be deemed fully paid.
Appears in 5 contracts
Samples: Pooling and Servicing Agreement (Nissan Auto Receivables Corp /De), Pooling and Servicing Agreement (Nissan Auto Receivables Corp Ii), Pooling and Servicing Agreement (Nissan Auto Receivables Corp Ii)
Certificates Nonassessable and Fully Paid. The Certificateholders shall not be personally liable for the obligations of the Trust. The interests represented by the Certificates shall be nonassessable for any losses or expenses of the Trust or for any reason whatsoever, and, and upon the authentication thereof by the Owner Trustee pursuant to Section 3.36.2 or 6.3, Section 3.4 or Section 3.5, the Certificates are and shall be deemed fully paid.
Appears in 4 contracts
Samples: Pooling and Servicing Agreement (Consumer Portfolio Services Inc), Pooling and Servicing Agreement (Financial Asset Securities Corp), Pooling and Servicing Agreement (Consumer Portfolio Services Inc)
Certificates Nonassessable and Fully Paid. The Certificateholders shall not be personally liable for the obligations of the Trust. The interests represented by the Trust Certificates shall be nonassessable for any losses or expenses of the Trust or for any reason whatsoever, and, upon the authentication thereof by the Owner Trustee pursuant to Section 3.33.03, Section 3.4 3.04 or Section 3.53.05, the Trust Certificates are and shall be deemed fully paid.
Appears in 4 contracts
Samples: Trust Agreement (Merrill Auto Trust Securitization 2008-1), Trust Agreement (Merrill Auto Trust Securitization 2007-1), Trust Agreement (Merrill Auto Trust Securitization 2005-1)
Certificates Nonassessable and Fully Paid. The Certificateholders shall not be personally liable for the obligations of the Trust. The interests represented by the Certificates shall be nonassessable for any losses or expenses of the Trust or for any reason whatsoever, and, upon the authentication thereof by the Owner Trustee pursuant to Section 3.315.2 or 15.3, Section 3.4 or Section 3.5, the Certificates are and shall be deemed fully paid.
Appears in 4 contracts
Samples: Pooling and Servicing Agreement (Nationscredit Grantor Trust 1997-2), Pooling and Servicing Agreement (Nationscredit Grantor Trust 1997-1), Nationscredit Securitization Corp
Certificates Nonassessable and Fully Paid. The Certificateholders shall not be personally liable for the obligations of the Trust. The interests represented by the Certificates shall be nonassessable for any losses or expenses of the Trust or for any reason whatsoever, and, upon the authentication thereof by the Owner Trustee pursuant to Section 3.3, Section 3.4 5.02 or Section 3.55.03, 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 Certificateholders shall not be personally liable for the obligations of the Trust. The interests , the Fractional Undivided Interests represented by the Certificates shall be nonassessable for any losses or expenses of the Trust or for any reason whatsoever, and, and Certificates upon the authentication thereof by the Owner Trustee pursuant to Section 3.3, Section 3.4 or Section 3.5, the Certificates 7.2 are and shall be deemed fully paid.
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (Securitized Asset Backed Receivables LLC), Pooling and Servicing Agreement (Americredit Corp), Pooling and Servicing Agreement (Household Auto Receivables Corp)
Certificates Nonassessable and Fully Paid. The Certificateholders Holders shall not be personally liable for the obligations of the Trust. The Except as expressly provided herein, the interests represented by the Trust Certificates shall be nonassessable for any losses or expenses of the Trust or for any reason whatsoever, and, upon the authentication thereof by the Owner Trustee pursuant to Section 3.3, Section 3.4 or Section 3.53.03, the Trust Certificates are and shall be deemed fully paid.
Appears in 3 contracts
Samples: Trust Agreement (Onyx Acceptance Corp), Trust Agreement (Onyx Acceptance Corp), Trust Agreement (Onyx Acceptance Corp)
Certificates Nonassessable and Fully Paid. The Certificateholders shall not be personally liable for the obligations of the Trust. The interests represented by the Certificates shall be nonassessable for any losses or expenses of the Trust or for any reason whatsoever, and, upon the authentication thereof by the Owner Trustee pursuant to Section 3.311.02, Section 3.4 or Section 3.5, the Certificates are and shall be deemed fully paid.
Appears in 2 contracts
Samples: Trust and Servicing Agreement (Uacsc Auto Trusts), Trust and Servicing Agreement (Bay View Securitization Corp)
Certificates Nonassessable and Fully Paid. The Certificateholders shall not be personally liable for the obligations of the Trust. The , the 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, and Certificates upon the authentication thereof by the Owner Trustee pursuant to Section 3.3, Section 3.4 or Section 3.5, the Certificates 5.01 are and shall be deemed fully paid.
Appears in 2 contracts
Samples: Custodial Agreement (National Auto Finance Co Inc), Pooling and Servicing Agreement (National Auto Finance Co Inc)
Certificates Nonassessable and Fully Paid. The Certificateholders shall not be personally liable for the obligations of the Trust. The , the 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, and Certificates upon the authentication execution thereof by the Owner Trustee pursuant to Section 3.3, Section 3.4 or Section 3.5, the Certificates 3.3 are and shall be deemed fully paid.
Appears in 2 contracts
Samples: Trust Agreement (Arcadia Financial LTD), Trust Agreement (Olympic Receivables Finance Corp)
Certificates Nonassessable and Fully Paid. The Certificateholders shall not be personally liable for the obligations of the Trust. The interests represented by the Certificates shall be nonassessable for any losses or expenses of the Trust or for any reason whatsoever, and, upon the authentication thereof by the Owner Trustee pursuant to Section 3.310.02, Section 3.4 or Section 3.5, the Certificates are and shall be deemed fully paid.
Appears in 2 contracts
Samples: Trust and Servicing Agreement (Bay View Deposit CORP), Trust and Servicing Agreement (Bay View Transaction Corp)
Certificates Nonassessable and Fully Paid. The Certificateholders shall not be personally liable for the obligations of the Trust. The interests represented by the Certificates shall be nonassessable for any losses or expenses of the Trust or for any reason whatsoever, and, upon the authentication thereof by the Owner Trustee pursuant to Section 3.3, Section 3.4 6.2 or Section 3.56.3, the Certificates are and shall be deemed fully paid.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Daimler Benz Vehicle Receivables Corp), Pooling and Servicing Agreement (Daimler Benz Vehicle Receivables Corp)
Certificates Nonassessable and Fully Paid. The Certificateholders shall not be personally liable for the obligations of the Trust. The , the fractional undivided beneficial 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, and Certificates upon the authentication execution thereof by the Owner Trustee pursuant to Section 3.3, Section 3.4 or Section 3.5, the Certificates 3.3 are and shall be deemed fully paid; provided, however, that this Section 11.6 shall not affect in any way the terms set forth in Article VIII hereof.
Appears in 1 contract
Certificates Nonassessable and Fully Paid. The Certificateholders shall not be personally liable for the obligations of the Trust. The interests represented by the Certificates shall be nonassessable for any losses or expenses of the Trust or for any reason whatsoever, and, upon the authentication thereof by the Owner Trustee pursuant to Section 3.3, Section 3.4 16.2 or Section 3.516.3, the Certificates are and shall be deemed fully paid.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Ford Credit Auto Receivables Corp)
Certificates Nonassessable and Fully Paid. The Certificateholders shall not be personally liable for the obligations of the Trust. The interests represented by the Certificates shall be nonassessable for any losses or expenses of the Trust or for any reason whatsoever, and, upon the authentication thereof by the Owner Trustee pursuant to Section 3.311.2 or 15.3, Section 3.4 or Section 3.5, the Certificates are and shall be deemed fully paid.
Appears in 1 contract
Certificates Nonassessable and Fully Paid. The Certificateholders shall not be personally liable for the obligations of the Trust. The interests represented by the Certificates shall be nonassessable for any losses or expenses of the Trust or for any reason whatsoever, and, upon the authentication thereof by the Owner Trustee pursuant to Section 3.3, Section 3.4 or Section 3.5, the Certificates are and shall be deemed fully paid.shall
Appears in 1 contract
Certificates Nonassessable and Fully Paid. The Certificateholders shall not be personally liable for the obligations of the Trust. The interests represented by the Certificates shall be nonassessable for any losses or expenses of the Trust or for any reason whatsoever, and, 81 86 upon the authentication thereof by the Owner Trustee pursuant to Section 3.35.2, Section 3.4 or Section 3.5, the Certificates are and shall be deemed fully paid.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Onyx Acceptance Financial Corp)
Certificates Nonassessable and Fully Paid. The Certificateholders shall not be personally liable for the obligations of the Trust. The interests represented by the Certificates shall be nonassessable for any losses or expenses of the Trust or for any reason whatsoever, and, and Certificates upon the authentication cancellation thereof by the Owner Trustee pursuant to Section 3.3, Section 3.4 or Section 3.5, the Certificates 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 Certificateholders shall not be personally liable for the obligations of the Trust. The interests represented by the Certificates shall be nonassessable for any losses or expenses of the Trust or for any reason whatsoever, and, and upon the authentication thereof by the Owner Trustee pursuant to Section 3.35.4 or 5.5, Section 3.4 or Section 3.5, the Certificates are and shall be deemed fully paid.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Long Beach Acceptance Corp)
Certificates Nonassessable and Fully Paid. The 11-2 Certificateholders shall not be personally liable for the obligations of the Trust. The 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, and Certificates upon the authentication execution thereof by the Owner Trustee pursuant to Section 3.3, Section 3.4 or Section 3.5, the Certificates 3.3 are and shall be deemed fully paid.
Appears in 1 contract
