Certificates Nonassessable and Fully Paid. Certificateholders shall not be personally liable for obligations of the Issuer. The interests represented by the Certificates shall be nonassessable for any losses or expenses of the Issuer or for any reason whatsoever, and, upon the authentication thereof by the Owner Trustee pursuant to Sections 3.03, 3.04 or 3.05, the Certificates are and shall be deemed fully paid.
Appears in 49 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)
Certificates Nonassessable and Fully Paid. Certificateholders shall not be personally liable for obligations of the Issuer. The interests represented by the Certificates shall be nonassessable for any losses or expenses of the Issuer or for any reason whatsoever, and, upon the authentication thereof by the Owner Trustee pursuant to Sections 3.03, 3.04 or 3.05Trustee, the Certificates are and shall be deemed fully paid.
Appears in 26 contracts
Samples: Trust Agreement (Mercedes-Benz Auto Lease Trust 2024-A), Trust Agreement (Mercedes-Benz Auto Lease Trust 2024-A), Trust Agreement (Mercedes-Benz Auto Lease Trust 2023-A)
Certificates Nonassessable and Fully Paid. Certificateholders shall not be personally liable for obligations of the Issuer. The interests represented by the Certificates shall be nonassessable for any losses or expenses of the Issuer or for any reason whatsoever, and, upon the authentication thereof by the Owner Trustee pursuant to Sections Section 3.03, 3.04 or 3.05, the Certificates are and shall be deemed fully paid.
Appears in 12 contracts
Samples: Trust Agreement (Pooled Auto Securities Shelf LLC), Trust Agreement (Wachovia Auto Owner Trust 2008-A), Trust Agreement (WDS Receivables LLC)
Certificates Nonassessable and Fully Paid. Certificateholders shall not be personally liable for obligations of the Issuer. The interests represented by the Certificates shall be nonassessable for any losses or expenses of the Issuer or for any reason whatsoever, and, upon the authentication thereof by the Owner Trustee pursuant to Sections 3.03, 3.04 or 3.05Trustee, the Certificates are and shall be deemed fully paid.. ARTICLE FOUR
Appears in 7 contracts
Samples: Trust Agreement (Mercedes-Benz Auto Lease Trust 2023-A), Trust Agreement (Mercedes-Benz Auto Lease Trust 2021-B), Trust Agreement (Mercedes-Benz Auto Lease Trust 2021-B)
Certificates Nonassessable and Fully Paid. The Certificateholders shall not be personally liable for the obligations of the Issuer. The interests represented by the Certificates shall be nonassessable for any losses or expenses of the Issuer or for any reason whatsoever, and, upon the authentication thereof by the Owner Trustee pursuant to Sections 3.03Section 3.3, 3.04 3.4 or 3.053.5, the Certificates are and shall be deemed fully paid.
Appears in 7 contracts
Samples: Trust Agreement (CarMax Auto Owner Trust 2004-1), Trust Agreement (Carmax Auto Funding LLC), Trust Agreement (Carmax Auto Funding LLC)
Certificates Nonassessable and Fully Paid. Certificateholders shall not be personally liable for obligations of the Issuer. The interests represented by the Certificates shall be nonassessable for any losses or expenses of the Issuer or for any reason whatsoever, and, upon the authentication thereof by the Owner Trustee pursuant to Sections 3.03, 3.04 or 3.05, the Certificates are and shall be deemed fully paid.. ARTICLE FOUR ACTIONS BY OWNER TRUSTEE
Appears in 7 contracts
Samples: Trust Agreement (Mercedes-Benz Auto Receivables Trust 2018-1), Trust Agreement (Mercedes-Benz Auto Receivables Trust 2016-1), Trust Agreement (Mercedes-Benz Auto Receivables Trust 2016-1)
Certificates Nonassessable and Fully Paid. Certificateholders shall not be personally liable for obligations of the Issuer. The interests represented by the Certificates shall be nonassessable for any losses or expenses of the Issuer or for any reason whatsoever, and, upon the authentication thereof by the Owner Trustee pursuant to Sections 3.03, 3.04 or 3.05Trustee, the Certificates are and shall be deemed fully paid.. ARTICLE FOUR ACTIONS BY OWNER TRUSTEE
Appears in 7 contracts
Samples: Trust Agreement (Mercedes-Benz Auto Lease Trust 2024-B), Trust Agreement (Mercedes-Benz Auto Lease Trust 2024-B), Trust Agreement
Certificates Nonassessable and Fully Paid. Certificateholders shall not be personally liable for obligations of the Issuer. The interests represented by the Certificates shall be nonassessable for any losses or expenses of the Issuer or for any reason whatsoever, and, upon the authentication thereof by the Owner Trustee pursuant to Sections 3.03, 3.04 or 3.05, the Certificates are and shall be deemed fully paid.. ARTICLE FOUR ACTIONS BY OWNER TRUSTEE AND CERTIFICATEHOLDERS
Appears in 2 contracts
Samples: Trust Agreement (California Republic Auto Receivables Trust 2018-1), Trust Agreement (California Republic Auto Receivables Trust 2018-1)
Certificates Nonassessable and Fully Paid. Certificateholders shall not be personally liable for obligations of the Issuer. The interests represented by the Certificates shall be nonassessable for any losses or expenses of the Issuer or for any reason whatsoever, and, upon the authentication thereof by the Owner Trustee pursuant to Sections 3.03, 3.04 or 3.05, the Certificates are and shall be deemed fully paid.. ARTICLE FOUR
Appears in 2 contracts
Samples: Trust Agreement, Trust Agreement (Daimler Trucks Retail Receivables LLC)
Certificates Nonassessable and Fully Paid. Certificateholders shall not be personally liable for obligations of the Issuer. The interests represented by the Certificates shall be nonassessable for any losses or expenses of the Issuer or for any reason whatsoever, and, upon the authentication thereof by the Owner Trustee pursuant to Sections Section 3.03, 3.04 3.04, 3.05 or 3.053.06, the Certificates are and shall be deemed fully paid.
Appears in 2 contracts
Samples: Trust Agreement (Nordstrom Inc), Trust Agreement (Nordstrom Inc)
Certificates Nonassessable and Fully Paid. The ----------------------------------------- Certificateholders shall not be personally liable for the obligations of the Issuer. The interests represented by the Certificates shall be nonassessable for any losses or expenses of the Issuer or for any reason whatsoever, and, upon the authentication thereof by the Owner Trustee pursuant to Sections 3.03Section 3.3, 3.04 3.4 or 3.053.5, the Certificates are and shall be deemed fully paid.
Appears in 2 contracts
Samples: Trust Agreement (Pooled Auto Securities Shelf LLC), Trust Agreement (Pooled Auto Securities Shelf LLC)
Certificates Nonassessable and Fully Paid. Certificateholders shall not be personally liable for obligations of the Issuer. The interests represented by the Certificates shall be nonassessable for any losses or expenses of the Issuer or for any reason whatsoever, and, upon the authentication thereof by the Owner Trustee pursuant to Sections Section 3.03, 3.04 or 3.05, the Certificates are and shall be deemed fully paid.. ARTICLE FOUR
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