Compensation and Indemnity. The Issuer shall cause the Servicer to pay to the Indenture Trustee from time to time reasonable compensation for its services. The Indenture Trustee’s compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuer shall cause the Servicer to reimburse the Indenture Trustee for all reasonable out-of-pocket expenses incurred or made by it, including costs of collection, in addition to the compensation for its services. Such expenses shall include but are not limited to the reasonable out-of-pocket compensation and expenses, disbursements and advances of the Indenture Trustee’s agents, counsel, accountants and experts. The Issuer shall cause the Servicer to indemnify the Indenture Trustee against any and all loss, liability or expense (including attorneys’ fees and expenses) incurred by it in connection with the administration of this trust and the performance of its duties hereunder or under the Sale and Servicing Agreement or under any other Basic Document or in connection with the Notes. The Indenture Trustee shall notify the Issuer and the Servicer promptly of any claim for which it may seek indemnity. Failure by the Indenture Trustee to so notify the Issuer and the Servicer shall not relieve the Issuer or the Servicer of its obligations hereunder. The Issuer shall, or shall cause the Servicer to, defend any such claim, and the Indenture Trustee may have separate counsel and the Issuer shall, or shall cause the Administrator to, pay the fees and expenses of such counsel. Neither the Issuer nor the Servicer need reimburse any expense or indemnify against any loss, liability or expense incurred by the Indenture Trustee through the Indenture Trustee’s own willful misconduct, negligence or bad faith. Anything in this Agreement to the contrary notwithstanding, in no event shall the Indenture Trustee be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Indenture Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. The Issuer’s obligations to the Indenture Trustee pursuant to this Section shall survive the discharge of this Indenture or the earlier resignation or removal of the Indenture Trustee. When the Indenture Trustee incurs expenses after the occurrence of a Default specified in Section 5.01(d) or (e) with respect to the Issuer, the expenses are intended to constitute expenses of administration under Title 11 of the United States Code or any other applicable federal or state bankruptcy, insolvency or similar law.
Appears in 34 contracts
Samples: Indenture (Hyundai Auto Receivables Trust 2023-B), Indenture (Hyundai Auto Receivables Trust 2023-B), Indenture (Hyundai Auto Receivables Trust 2022-C)
Compensation and Indemnity. (a) The Issuer shall, or shall cause the Servicer to Administrator to, pay to the Indenture Trustee from time to time reasonable compensation for its services. The Indenture Trustee’s 's compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuer shall, or shall cause the Servicer to Administrator to, reimburse the Indenture Trustee for all reasonable out-of-pocket expenses incurred or made by it, including costs of collection, in addition to the compensation for its services. Such expenses shall include but are not limited to the reasonable out-of-pocket compensation and expenses, disbursements and advances of the Indenture Trustee’s 's agents, counsel, accountants and experts. The Issuer shall, or shall cause the Servicer to Administrator to, indemnify the Indenture Trustee against any and all loss, liability or expense (including attorneys’ fees and expenses' fees) incurred by it in connection with the administration of this trust and the performance of its duties hereunder or under the Sale and Servicing Agreement or under any other Basic Document or in connection with the Noteshereunder. The Indenture Trustee shall notify the Issuer and the Servicer Administrator promptly of any claim for which it may seek indemnity. Failure by the Indenture Trustee to so notify the Issuer and the Servicer Administrator shall not relieve the Issuer or the Servicer Administrator of its obligations hereunder. The Issuer shall, or shall cause the Servicer to, defend any such claim, and the Indenture Trustee may have separate counsel and the Issuer shall, or shall cause the Administrator Servicer to, pay the fees and expenses of such counsel. Neither the Issuer nor the Servicer Administrator need reimburse any expense or indemnify indemnity against any loss, liability or expense incurred by the Indenture Trustee through the Indenture Trustee’s 's own willful misconduct, negligence or bad faith. Anything in this Agreement to the contrary notwithstanding, in no event shall the Indenture Trustee be liable for special, indirect or consequential loss or damage of any kind whatsoever .
(including but not limited to lost profits), even if the Indenture Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. b) The Issuer’s 's payment obligations to the Indenture Trustee pursuant to this Section 6.7 shall survive the discharge of this Indenture or the earlier resignation or removal of the Indenture TrusteeTrustee and the discharge of this Indenture. When the Indenture Trustee incurs expenses after the occurrence of a Default specified in Section 5.01(d5.1(iv) or (ev) with respect to the Issuer, the expenses are intended to constitute expenses of administration under Title 11 of the United States Code or any other applicable federal or state bankruptcy, insolvency or similar law.
Appears in 32 contracts
Samples: Indenture (Mmca Auto Receivables Trust), Indenture (Mmca Auto Owner Trust 2000-2), Indenture (Mmca Auto Receivables Trust)
Compensation and Indemnity. The Issuer Issuing Entity shall, or shall cause the Servicer Administrator to, pursuant to the Administration Agreement, pay to the Indenture Trustee from time to time reasonable compensation for its services. The Indenture Trustee’s compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuer Issuing Entity shall, or shall cause the Servicer to Administrator to, reimburse the Indenture Trustee for all reasonable and documented out-of-pocket expenses incurred or made by it, including costs of collection, in addition to the compensation for its services. Such expenses shall include but are not limited to the reasonable out-of-pocket and documented compensation and expenses, disbursements and advances of the Indenture Trustee’s agents, counsel, accountants and experts; provided, that, reimbursement for expenses and disbursements of any legal counsel to the Indenture Trustee shall be subject to any limitations separately agreed upon before the date hereof between the Administrator and the Indenture Trustee. The Issuer Issuing Entity shall, or shall cause the Servicer Administrator to, pursuant to the Administration Agreement, indemnify the Indenture Trustee against any and all loss, liability liability, claim, damage or expense (including attorneys’ fees and expensesfees) incurred by it in connection with the administration of this trust and the performance of its duties hereunder or under the Sale and Servicing Agreement or under any other Basic Document or in connection with the Noteshereunder. The Indenture Trustee shall notify the Issuer Issuing Entity and the Servicer Administrator promptly of any claim of which the Indenture Trustee has received written notice for which it may seek indemnity. Failure by the Indenture Trustee to so notify the Issuer Issuing Entity and the Servicer Administrator shall not relieve the Issuer Issuing Entity or the Servicer Administrator of its obligations hereunder. The Issuer Issuing Entity shall, or shall cause the Servicer Administrator to, defend any such claim, and the Indenture Trustee may have separate counsel and the Issuer Issuing Entity shall, or shall cause the Administrator to, pay the fees and expenses of such counsel. Neither the Issuer Issuing Entity nor the Servicer Administrator need reimburse any expense or indemnify against any loss, liability or expense incurred by the Indenture Trustee through the Indenture Trustee’s own willful misconduct, negligence or bad faith. Anything in this Agreement to the contrary notwithstanding, in no event shall the Indenture Trustee be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Indenture Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. The IssuerIssuing Entity’s payment obligations to the Indenture Trustee pursuant to this Section shall survive the discharge of this Indenture or the earlier resignation or removal of the Indenture TrusteeTrustee and the discharge of this Indenture. When the Indenture Trustee incurs expenses after the occurrence of a Default specified in Section 5.01(d5.01(iv) or (ev) with respect to the IssuerIssuing Entity, the expenses are intended to constitute expenses of administration under Title 11 of the United States Code or any other applicable federal or state bankruptcy, insolvency or similar law.
Appears in 25 contracts
Samples: Indenture (World Omni Auto Receivables Trust 2016-A), Indenture (World Omni Auto Receivables Trust 2016-A), Indenture (World Omni Auto Receivables Trust 2015-B)
Compensation and Indemnity. The Issuer Issuing Entity shall, or shall cause the Servicer Administrator to, pursuant to the Administration Agreement, pay to the Indenture Trustee from time to time reasonable compensation for its services. The Indenture Trustee’s compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuer Issuing Entity shall, or shall cause the Servicer to Administrator to, reimburse the Indenture Trustee for all reasonable and documented out-of-pocket expenses incurred or made by it, including costs of collection, in addition to the compensation for its services. Such expenses shall include but are not limited to the reasonable out-of-pocket and documented compensation and expenses, disbursements and advances of the Indenture Trustee’s agents, counsel, accountants and experts; provided, that, reimbursement for expenses and disbursements of any legal counsel to the Indenture Trustee shall be subject to any limitations separately agreed upon before the date hereof between the Administrator and the Indenture Trustee. The Issuer Issuing Entity shall, or shall cause the Servicer Administrator to, pursuant to the Administration Agreement, indemnify the Indenture Trustee against any and all loss, liability liability, claim, damage or expense (including attorneys’ reasonable and documented legal fees and expensesexpenses and including, without limitation, any legal fees, costs and expenses incurred in connection with any enforcement (including any action, claim or suit brought) by the Indenture Trustee of any indemnification or other obligation of the Issuing Entity or the Administrator) incurred by it in connection with the administration of this trust and the performance of its duties hereunder or under the Sale and Servicing Agreement or under any other Basic Document or in connection with the Noteshereunder. The Indenture Trustee shall notify the Issuer Issuing Entity and the Servicer Administrator promptly of any claim of which the Indenture Trustee has received written notice for which it may seek indemnity. Failure by the Indenture Trustee to so notify the Issuer Issuing Entity and the Servicer Administrator shall not relieve the Issuer Issuing Entity or the Servicer Administrator of its obligations hereunder. The Issuer Issuing Entity shall, or shall cause the Servicer Administrator to, defend any such claim, and the Indenture Trustee may have separate counsel and the Issuer Issuing Entity shall, or shall cause the Administrator to, pay the fees and expenses of such counsel. Neither the Issuer Issuing Entity nor the Servicer Administrator need reimburse any expense or indemnify against any loss, liability or expense incurred by the Indenture Trustee through the Indenture Trustee’s own willful misconduct, negligence or bad faith. Anything in this Agreement to the contrary notwithstanding, in no event shall the Indenture Trustee be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Indenture Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. The IssuerIssuing Entity’s payment obligations to the Indenture Trustee pursuant to this Section shall survive the discharge of this Indenture or the earlier resignation or removal of the Indenture TrusteeTrustee and the discharge of this Indenture. When the Indenture Trustee incurs expenses after the occurrence of a Default specified in Section 5.01(d5.01(iv) or (ev) with respect to the IssuerIssuing Entity, the expenses are intended to constitute expenses of administration under Title 11 of the United States Code or any other applicable federal or state bankruptcy, insolvency or similar law.
Appears in 19 contracts
Samples: Indenture (World Omni Auto Receivables LLC), Indenture (World Omni Auto Receivables Trust 2019-B), Indenture (World Omni Auto Receivables Trust 2019-A)
Compensation and Indemnity. The Issuer shall pay or shall cause the Servicer Administrator to pay to the Indenture Trustee from time to time reasonable compensation for its services. The Indenture Trustee’s compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuer shall or shall cause the Servicer Administrator to reimburse the Indenture Trustee for all reasonable out-of-pocket expenses incurred or made by it, including costs of collection, in addition to the compensation for its services. Such expenses shall include but are not limited to the reasonable out-of-pocket compensation and expenses, disbursements and advances of the Indenture Trustee’s agents, counsel, accountants and experts. The Issuer shall indemnify or shall cause the Servicer Administrator to indemnify the Indenture Trustee against any and all loss, claim, liability or expense (including attorneys’ fees and expenses, including fees and expenses with respect to enforcement of this indemnity) incurred by it in connection with the administration of this trust and the performance of its duties hereunder or under the Sale and Servicing Agreement or under any other Basic Document or in connection with the Noteshereunder. The Indenture Trustee shall notify the Issuer and the Servicer Administrator promptly of any claim for which it may seek indemnity. Failure by the Indenture Trustee to so notify the Issuer and the Servicer Administrator shall not relieve the Issuer or the Servicer Administrator of its obligations hereunder. The Issuer shall, shall defend or shall cause the Servicer to, Administrator to defend any such claim, and the Indenture Trustee may have separate counsel and the Issuer shall, shall pay or shall cause the Administrator to, to pay the fees and expenses of such counsel. Neither the Issuer nor the Servicer Administrator need reimburse any expense or indemnify against any loss, claim, liability or expense incurred by the Indenture Trustee through the Indenture Trustee’s own willful misconduct, negligence or bad faith. Anything in this Agreement to the contrary notwithstanding, in no event shall the Indenture Trustee be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Indenture Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. The Issuer’s payment obligations and indemnification to the Indenture Trustee pursuant to this Section shall survive the resignation or removal of the Indenture Trustee and the termination and discharge of this Indenture; provided that the Indenture or Trustee shall be entitled only to compensation for its services for the earlier period prior to the date of such resignation or removal of the Indenture Trustee. When the Indenture Trustee incurs expenses after the occurrence of a an Event of Default specified in Section 5.01(d5.01(iv) or (ev) with respect to the Issuer, the expenses are intended to constitute expenses of administration under Title 11 of the United States Code or any other applicable federal or state bankruptcy, insolvency or similar law.
Appears in 17 contracts
Samples: Indenture (Harley-Davidson Motorcycle Trust 2024-B), Indenture (Harley-Davidson Motorcycle Trust 2024-B), Indenture (Harley-Davidson Motorcycle Trust 2024-A)
Compensation and Indemnity. The Issuer Issuing Entity shall, or shall cause the Servicer to to, pay to the Indenture Trustee from time to time reasonable compensation for its servicesservices as agreed to between the Issuing Entity and the Indenture Trustee in writing. The Indenture Trustee’s compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuer Issuing Entity shall, or shall cause the Servicer to to, reimburse the Indenture Trustee for all reasonable out-of-pocket expenses incurred or made by it, including costs of collection, in addition to the compensation for its services. Such expenses shall include but are not limited to the reasonable out-of-pocket compensation and expenses, disbursements and advances of the Indenture Trustee’s agents, counsel, accountants and experts. The Issuer Issuing Entity shall or shall cause the Servicer to indemnify the Indenture Trustee and its officers, directors, employees and agents against any and all loss, liability or expense (including attorneys’ fees and expenses) incurred by it them in connection with the administration of this trust and the performance of its duties hereunder or under the Sale and Servicing Agreement or under any other Basic Document or in connection with the Noteshereunder. The Indenture Trustee shall notify the Issuer Issuing Entity and the Servicer promptly of any claim for which it may seek indemnity. Failure by the Indenture Trustee to so notify the Issuer Issuing Entity and the Servicer shall not relieve the Issuer Issuing Entity or the Servicer of its respective obligations hereunder. The Issuer Issuing Entity shall, or shall cause the Servicer to, defend any such claim, the claim and the Indenture Trustee may have separate counsel and the Issuer Issuing Entity shall, or shall cause the Administrator Servicer to, pay the reasonable fees and expenses of such counsel. Neither Notwithstanding anything to the Issuer contrary contained herein, neither the Issuing Entity nor the Servicer need reimburse any expense or indemnify against any loss, liability or expense incurred by the Indenture Trustee through the Indenture Trustee’s own willful misconduct, negligence or bad faith. Anything in this Agreement to the contrary notwithstanding, in no event shall the Indenture Trustee be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Indenture Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. The IssuerIssuing Entity’s payment obligations to the Indenture Trustee pursuant to this Section shall survive the discharge of this Indenture or the earlier resignation or removal of the Indenture Trustee. When the Indenture Trustee incurs expenses after the occurrence of a Default specified in Section 5.01(d5.1(iv) or (e) with respect to the Issuerv), the expenses are intended to constitute expenses of administration under Title 11 of the United States Bankruptcy Code or any other applicable federal or state State bankruptcy, insolvency or similar law.
Appears in 17 contracts
Samples: Indenture (CNH Equipment Trust 2024-C), Indenture (CNH Equipment Trust 2024-C), Indenture (CNH Equipment Trust 2024-B)
Compensation and Indemnity. The Issuer shall, or shall cause the Servicer to Administrator to, pay to the Indenture Trustee from time to time reasonable compensation for its services. The Indenture Trustee’s 's compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuer shall, or shall cause the Servicer to Administrator to, reimburse the Indenture Trustee for all reasonable out-of-pocket expenses incurred or made by it, including costs of collection, in addition to the compensation for its services. Such expenses shall include but are not limited to the reasonable out-of-pocket compensation and expenses, disbursements and advances of the Indenture Trustee’s 's agents, counsel, accountants and experts. The Issuer shall, or shall cause the Servicer to Administrator to, indemnify the Indenture Trustee against any and all loss, liability or expense (including attorneys’ fees and expenses' fees) incurred by it in connection with the administration of this trust and the performance of its duties hereunder or under the Sale and Servicing Agreement or under any other Basic Document or in connection with the Noteshereunder. The Indenture Trustee shall notify the Issuer and the Servicer Administrator promptly of any claim for which it may seek indemnity. Failure by the Indenture Trustee to so notify the Issuer and the Servicer Administrator shall not relieve the Issuer or the Servicer Administrator of its obligations hereunder. The Issuer shall, or shall cause the Servicer Administrator to, defend any such claim, and the Indenture Trustee may have separate counsel and the Issuer shall, or shall cause the Administrator to, pay the fees and expenses of such counsel. Neither the Issuer nor the Servicer Administrator need reimburse any expense or indemnify against any loss, liability or expense incurred by the Indenture Trustee through the Indenture Trustee’s 's own willful misconduct, negligence or bad faith. Anything in this Agreement to the contrary notwithstanding, in no event shall the Indenture Trustee be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Indenture Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. The Issuer’s 's payment obligations to the Indenture Trustee pursuant to this Section shall survive the discharge of this Indenture or the earlier resignation or removal of the Indenture TrusteeIndenture. When the Indenture Trustee incurs expenses after the occurrence of a Default specified in Section 5.01(d5.01(iv) or (ev) with respect to the Issuer, the expenses are intended to constitute expenses of administration under Title 11 of the United States Code or any other applicable federal or state bankruptcy, insolvency or similar law.
Appears in 16 contracts
Samples: Indenture (WFS Receivables Corp 3), Indenture (WFS Receivables Corp 2), Indenture (WFS Receivables Corp)
Compensation and Indemnity. The Issuer shall, or shall cause the Servicer to Administrator to, pay to the Indenture Trustee from time to time reasonable compensation for its servicesservices pursuant to a fee agreement between the Administrator and the Indenture Trustee. The Indenture Trustee’s 's compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuer shall, or shall cause the Servicer to Administrator to, reimburse the Indenture Trustee for all reasonable out-of-pocket expenses incurred or made by it, including costs of collection, in addition to the compensation for its services. Such expenses shall include but are not limited to the reasonable out-of-pocket compensation and expenses, disbursements and advances of the Indenture Trustee’s 's agents, counsel, accountants and experts. The Issuer shall, or shall cause the Servicer to Administrator to, indemnify the Indenture Trustee against any and all loss, liability or expense (including attorneys’ fees and expenses' fees) incurred by it in connection with the administration of this trust and the performance of its duties hereunder or under the Sale and Servicing Agreement or under any other Basic Document or in connection with the Noteshereunder. The Indenture Trustee shall notify the Issuer and the Servicer Administrator promptly of any claim for which it may seek indemnity. Failure by the Indenture Trustee to so notify the Issuer and the Servicer Administrator shall not relieve the Issuer or the Servicer Administrator of its obligations hereunder. The Issuer shall, or shall cause the Servicer Administrator to, defend any such claim, and the Indenture Trustee may have separate counsel and the Issuer shall, or shall cause the Administrator to, pay the fees and expenses of such counsel. Neither the Issuer nor the Servicer Administrator need reimburse any expense or indemnify against any loss, liability or expense incurred by the Indenture Trustee through the Indenture Trustee’s 's own willful misconduct, negligence or bad faith. Anything in this Agreement to the contrary notwithstanding, in no event shall the Indenture Trustee be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Indenture Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. The Issuer’s 's payment obligations to the Indenture Trustee pursuant to this Section shall survive the discharge of this Indenture or the earlier resignation or removal of the Indenture TrusteeIndenture. When the Indenture Trustee incurs expenses after the occurrence of a Default specified in Section 5.01(d5.01(iv) or (ev) with respect to the Issuer, the expenses are intended to constitute expenses of administration under Title 11 of the United States Code or any other applicable federal or state bankruptcy, insolvency or similar law.
Appears in 15 contracts
Samples: Indenture (Daimlerchrysler Services North America LLC), Indenture (Daimlerchrysler Auto Trust 2005-B), Indenture (Daimlerchrysler Services North America LLC)
Compensation and Indemnity. The Issuer Issuing Entity shall, or shall cause the Servicer to to, pay to the Indenture Trustee from time to time reasonable compensation for its servicesservices as agreed to between the Issuing Entity and the Indenture Trustee in writing. The Indenture Trustee’s compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuer Issuing Entity shall, or shall cause the Servicer to to, reimburse the Indenture Trustee for all reasonable out-of-pocket expenses incurred or made by it, including costs of collection, in addition to the compensation for its services. Such expenses shall include but are not limited to the reasonable out-of-pocket compensation and expenses, disbursements and advances of the Indenture Trustee’s agents, counsel, accountants and experts. The Issuer Issuing Entity shall or shall cause the Servicer to indemnify the Indenture Trustee and its officers, directors, employees and agents against any and all loss, liability or expense (including attorneys’ fees and expenses) incurred by it them in connection with the administration of this trust and the performance of its duties hereunder or under the Sale and Servicing Agreement or under any other Basic Document or in connection with the Noteshereunder. The Indenture Trustee shall notify the Issuer Issuing Entity and the Servicer promptly of any claim for which it may seek indemnity. Failure by the Indenture Trustee to so notify the Issuer Issuing Entity and the Servicer shall not relieve the Issuer Issuing Entity or the Servicer of its respective obligations hereunder. The Issuer Issuing Entity shall, or shall cause the Servicer to, defend any such claim, the claim and the Indenture Trustee may have separate counsel and the Issuer Issuing Entity shall, or shall cause the Administrator Servicer to, pay the reasonable fees and expenses of such counsel. Neither Notwithstanding anything to the Issuer contrary contained herein, neither the Issuing Entity nor the Servicer need reimburse any expense or indemnify against any loss, liability or expense incurred by the Indenture Trustee through the Indenture Trustee’s own willful misconduct, negligence or bad faith. Anything in this Agreement to the contrary notwithstanding, in no event shall the Indenture Trustee be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Indenture Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. The IssuerIssuing Entity’s payment obligations to the Indenture Trustee pursuant to this Section shall survive the discharge of this Indenture or the earlier resignation or removal of the Indenture Trustee. When the Indenture Trustee incurs expenses after the occurrence of a Default specified in Section 5.01(d5.1(iv) or (e) with respect to the Issuerv), the expenses are intended to constitute expenses of administration under Title 11 of the United States Code or any other applicable federal or state State bankruptcy, insolvency or similar law.
Appears in 14 contracts
Samples: Indenture (CNH Equipment Trust 2017-C), Indenture (CNH Equipment Trust 2017-C), Indenture (CNH Equipment Trust 2017-B)
Compensation and Indemnity. The Issuer shall, or shall cause the Servicer to to, pay to the Indenture Trustee from time to time reasonable compensation for its services. The Indenture Trustee’s 's compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuer shall, or shall cause the Servicer to to, reimburse the Indenture Trustee for all reasonable out-of-pocket expenses incurred or made by it, including costs of collection, in addition to the compensation for its services. Such expenses shall include but are not limited to the reasonable out-of-pocket compensation and expenses, disbursements and advances of the Indenture Trustee’s 's agents, counsel, accountants and experts. The Issuer shall or shall cause the Servicer to indemnify the Indenture Trustee and its officers, directors, employees and agents against any and all loss, liability or expense (including attorneys’ fees and expenses' fees) incurred by it them in connection with the administration of this trust and the performance of its duties hereunder or under the Sale and Servicing Agreement or under any other Basic Document or in connection with the Noteshereunder. The Indenture Trustee shall notify the Issuer and the Servicer promptly of any claim for which it may seek indemnity. Failure by the Indenture Trustee to so notify the Issuer and the Servicer shall not relieve the Issuer or the Servicer of its obligations hereunder. The Issuer shall, or shall cause the Servicer to, defend any such claim, the claim and the Indenture Trustee may have separate counsel and the Issuer shall, or shall cause the Administrator Servicer to, pay the fees and expenses of such counsel. Neither the Issuer nor the Servicer need reimburse any expense or indemnify against any loss, liability or expense incurred by the Indenture Trustee through the Indenture Trustee’s 's own willful misconduct, negligence or bad faith. Anything in this Agreement to the contrary notwithstanding, in no event shall the Indenture Trustee be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Indenture Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. The Issuer’s 's payment obligations to the Indenture Trustee pursuant to this Section shall survive the discharge of this Indenture or the earlier resignation or removal of the Indenture TrusteeIndenture. When the Indenture Trustee incurs expenses after the occurrence of a Default specified in Section 5.01(d5.1(iv) or (e) with respect to the Issuerv), the expenses are intended to constitute expenses of administration under Title 11 of the United States Code or any other applicable federal Federal or state State bankruptcy, insolvency or similar law.
Appears in 13 contracts
Samples: Indenture (Case Receivables Ii Inc), Indenture (Case Receivables Ii Inc), Indenture (Case Receivables Ii Inc)
Compensation and Indemnity. (a) The Issuer shall, or shall cause the Servicer to Administrator to, pay to the Indenture Trustee from time to time reasonable compensation for its servicesservices pursuant to a fee agreement between the Administrator and the Indenture Trustee. The Indenture Trustee’s compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuer shall, or shall cause the Servicer to Administrator to, reimburse the Indenture Trustee for all reasonable and extraordinary out-of-pocket expenses expenses, disbursements and advances incurred or made by it, including costs of collection, in addition to the compensation for its services. Such expenses shall include but are not limited to the reasonable compensation and expenses (including extraordinary out-of-pocket compensation and expenses), disbursements and advances of the Indenture Trustee’s agents, counsel, accountants and experts. The Issuer shall, or shall cause the Servicer to Administrator to, indemnify and hold harmless the Indenture Trustee and its officers, directors, employees, representatives and agents against any and all loss, liability liability, tax (other than taxes based on the income of the Indenture Trustee) or expense (including attorneys’ fees and expensesfees) of whatever kind or nature regardless of their merit directly or indirectly incurred by it in connection with the administration or them without willful misconduct, negligence or bad faith on their part, arising out of this trust and the performance of its duties hereunder or under the Sale and Servicing Agreement or under any other Basic Document or in connection with the Notesacceptance or administration of the transactions contemplated by this Indenture, including the reasonable costs and expenses of defending themselves against any claim, loss, damage or liability in connection with the exercise or performance of any of their powers or duties under this Indenture or under any of the other Basic Documents, including any legal fees or expenses incurred by the Indenture Trustee in connection with the enforcement of the Issuer’s indemnification or other obligations hereunder. The Indenture Trustee shall notify the Issuer and the Servicer Administrator promptly of any claim for which it may seek indemnity. Failure by the Indenture Trustee to so notify the Issuer and the Servicer Administrator shall not relieve the Issuer or the Servicer Administrator of its obligations hereunder. The Issuer shall, or shall cause the Servicer Administrator to, defend any such claim, and the Indenture Trustee may have separate counsel and the Issuer shall, or shall cause the Administrator to, pay the fees and expenses of such counsel. Neither the Issuer nor the Servicer Administrator need reimburse any expense or indemnify against any loss, liability or expense incurred by the Indenture Trustee through the Indenture Trustee’s own willful misconduct, negligence or bad faith.
(b) The Issuer’s payment obligations to the Indenture Trustee pursuant to this Section shall survive the discharge of this Indenture and the resignation or removal of the Indenture Trustee. Anything When the Indenture Trustee incurs expenses after the occurrence of a Default specified in this Agreement Section 5.01(v) with respect to the Issuer, the expenses are intended to constitute expenses of administration under the Bankruptcy Code or any other applicable Insolvency Law.
(c) Notwithstanding anything to the contrary notwithstandingcontained herein, in no event shall the Indenture Trustee be liable for special, indirect indirect, consequential or consequential loss or damage punitive damages of any kind whatsoever (whatsoever, including but not limited to lost profits), even if the Indenture Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. The Issuer’s obligations to the Indenture Trustee pursuant to this Section shall survive the discharge of this Indenture or the earlier resignation or removal of the Indenture Trustee. When the Indenture Trustee incurs expenses after the occurrence of a Default specified in Section 5.01(d) or (e) with respect to the Issuer, the expenses are intended to constitute expenses of administration under Title 11 of the United States Code or any other applicable federal or state bankruptcy, insolvency or similar law.
Appears in 10 contracts
Samples: Indenture (Daimler Trucks Retail Trust 2023-1), Indenture (Daimler Trucks Retail Trust 2023-1), Indenture (Daimler Trucks Retail Trust 2022-1)
Compensation and Indemnity. The Issuer shall cause the Servicer to pay to the Indenture Trustee from time to time reasonable compensation for its services. The Indenture Trustee’s compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuer shall cause the Servicer to reimburse the Indenture Trustee for all reasonable out-of-pocket expenses incurred or made by it, including costs of collection, in addition to the compensation for its services. Such expenses shall include but are not limited to the reasonable out-of-pocket compensation and expenses, disbursements and advances of the Indenture Trustee’s agents, counsel, accountants and experts. The Issuer shall cause the Servicer to indemnify the Indenture Trustee against any and all loss, liability or expense (including attorneys’ fees and expenses) incurred by it in connection with the administration of this trust and the performance of its duties hereunder or under the Sale and Servicing Agreement or under any other Basic Document or in connection with the Notes. The Indenture Trustee shall notify the Issuer and the Servicer promptly of any claim for which it may seek indemnity. Failure by the Indenture Trustee to so notify the Issuer and the Servicer shall not relieve the Issuer or the Servicer of its obligations hereunder. The Issuer shall, or shall cause the Servicer to, defend any such claim, and the Indenture Trustee may have separate counsel and the Issuer shall, or shall cause the Administrator to, pay the fees and expenses of such counsel. Neither the Issuer nor the Servicer need reimburse any expense or indemnify against any loss, liability or expense incurred by the Indenture Trustee through the Indenture Trustee’s own willful misconduct, negligence or bad faith. Anything in this Agreement to the contrary notwithstanding, in no event shall the Indenture Trustee be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Indenture Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. The Issuer’s obligations to the Indenture Trustee pursuant to this Section shall survive the discharge of this Indenture or the earlier resignation or removal of the Indenture Trustee. When the Indenture Trustee incurs expenses after the occurrence of a Default specified in Section 5.01(d5.01(iv) or (ev) with respect to the Issuer, the expenses are intended to constitute expenses of administration under Title 11 of the United States Code or any other applicable federal or state bankruptcy, insolvency or similar law.
Appears in 10 contracts
Samples: Indenture (Hyundai Auto Receivables Trust 2011-A), Indenture (Hyundai Abs Funding Corp), Indenture (Hyundai Auto Receivables Trust 2010-B)
Compensation and Indemnity. (a) The Issuer shall, or shall cause the Servicer to Administrator to, pay to the Indenture Trustee from time to time reasonable compensation for its services. The Indenture Trustee’s 's compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuer shall, or shall cause the Servicer to Administrator to, reimburse the Indenture Trustee for all reasonable out-of-pocket expenses incurred or made by it, including costs of collection, in addition to the compensation for its services. Such expenses shall include but are not limited to the reasonable out-of-pocket compensation and expenses, disbursements and advances of the Indenture Trustee’s 's agents, counsel, accountants and experts. The Issuer shall, or shall cause the Servicer to Administrator to, indemnify the Indenture Trustee against for, and to hold it harmless against, any and all loss, liability or expense (including attorneys’ fees and expenses' fees) incurred by it in connection with the administration of this trust and the performance of its duties hereunder hereunder, including the costs and expenses of defending itself against any claim or under the Sale and Servicing Agreement or under any other Basic Document or liability in connection with the Notesexercise or performance of any of its powers or duties hereunder. The Indenture Trustee shall notify the Issuer and the Servicer Administrator promptly of any claim for which it may seek indemnity. Failure by the Indenture Trustee to so notify the Issuer and the Servicer Administrator shall not relieve the Issuer or the Servicer Administrator of its obligations hereunder. The Issuer shall, or shall cause the Servicer Administrator to, defend any such claim, and the Indenture Trustee may have separate counsel and the Issuer shall, or shall cause the Administrator to, pay the fees and expenses of such counsel. Neither the Issuer nor the Servicer Administrator need reimburse any expense or indemnify indemnity against any loss, liability or expense incurred by the Indenture Trustee through the Indenture Trustee’s 's own willful misconduct, negligence or bad faith. Anything in this Agreement to the contrary notwithstanding, in no event shall the Indenture Trustee be liable for special, indirect or consequential loss or damage of any kind whatsoever .
(including but not limited to lost profits), even if the Indenture Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. b) The Issuer’s 's payment obligations to the Indenture Trustee pursuant to this Section 6.7 shall survive the discharge of this Indenture or the earlier resignation or removal of the Indenture TrusteeTrustee and the discharge of this Indenture. When the Indenture Trustee incurs expenses after the occurrence of a Default specified in Section 5.01(d5.1(iv) or (ev) with respect to the Issuer, the expenses are intended to constitute expenses of administration under Title 11 of the United States Code or any other applicable federal or state State bankruptcy, insolvency or similar law.
Appears in 9 contracts
Samples: Indenture (Ford Credit Auto Receivables Two LLC), Indenture (Ford Credit Auto Receivables Two L P), Indenture (Ford Credit Auto Receivables Two L P)
Compensation and Indemnity. (a) The Issuer shall cause the Servicer to pay to the Indenture Trustee from time to time reasonable compensation for its services. The Indenture Trustee’s compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuer shall cause the Servicer to reimburse the Indenture Trustee for all reasonable out-of-pocket expenses incurred or made by itit in connection with the Securitized Utility Tariff Bonds, including costs of collection, in addition to the compensation for its services. Such expenses shall include but are not limited to the reasonable out-of-pocket compensation and expenses, disbursements and advances of the Indenture Trustee’s agents, counsel, accountants and experts. .
(b) The Issuer shall cause the Servicer to indemnify the Indenture Trustee and its officers, directors, employees and agents against any and all cost, damage, loss, liability or expense (including attorneys’ fees and expenses) incurred by it in connection with the administration of this trust and the performance of its duties hereunder hereunder, including the cost and expense of enforcing this Indenture (including this Section) and defending itself against any claim or under the Sale and Servicing Agreement or under any other Basic Document or liability in connection with the Notesexercise or performance of such duties. The Indenture Trustee shall notify the Issuer and the Servicer promptly as soon as is reasonably practicable of any claim for which it may seek indemnity. Failure by the Indenture Trustee to so notify the Issuer and the Servicer shall not relieve the Issuer or the Servicer of its obligations hereunder. The Issuer shall, or shall cause defend the Servicer to, defend any such claim, claim and the Indenture Trustee may have separate counsel and the Issuer shall, or shall cause the Administrator to, pay the fees and expenses of such counsel. Neither .
(c) Notwithstanding any other provision of this Indenture, the Issuer nor the Servicer need not reimburse any expense or indemnify against any loss, liability or expense incurred by the Indenture Trustee through the Indenture Trustee’s own willful misconduct, negligence or bad faith. Anything in this Agreement to the contrary notwithstanding, in no event shall the Indenture Trustee be liable for special, indirect or consequential loss or damage of any kind whatsoever .
(including but not limited to lost profits), even if the Indenture Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. d) The Issuer’s payment obligations to the Indenture Trustee pursuant to this Section shall survive the discharge of this Indenture or the earlier Indenture, resignation or removal of the Indenture Trustee. When the Indenture Trustee incurs expenses after the occurrence of a Default specified in Section 5.01(d5.01(a)(v) or (evi) with respect to the Issuer, the expenses are intended to constitute expenses of administration under Title 11 of the United States Bankruptcy Code or any other applicable federal or state State bankruptcy, insolvency or similar law.
Appears in 8 contracts
Samples: Indenture (Ameren Missouri Securitization Funding I, LLC), Indenture (Ameren Missouri Securitization Funding I, LLC), Indenture (Evergy Missouri West Storm Funding I, LLC)
Compensation and Indemnity. The Issuer shall cause the Servicer to pay to the Indenture Trustee from time to time on each Payment Date reasonable compensation for its services. The Indenture Trustee shall be compensated and indemnified by the Seller in accordance with Section 4(b) of the Administration Agreement, and all amounts owing to the Indenture Trustee hereunder in excess of such amount shall be paid solely as provided in Section 3.05 hereof (subject to the priorities set forth therein). The Indenture Trustee’s 's compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuer shall cause the Servicer to reimburse the Indenture Trustee for all reasonable out-of-pocket expenses incurred or made by it, including costs of collectionTrustee Additional Expenses, in addition to the compensation for its services. Such expenses shall include but are not limited to the reasonable out-of-pocket compensation and expenses, disbursements and advances of the Indenture Trustee’s agents, counsel, accountants and experts. The Issuer shall cause the Servicer to indemnify the Indenture Trustee against any and all loss, liability or expense (including attorneys’ fees and expenses' fees) incurred by it in connection with the administration of this trust and the performance of its duties hereunder or under the Sale and Servicing Agreement or under any other Basic Document or in connection with the Noteshereunder. The Indenture Trustee shall notify the Issuer and the Servicer promptly of any claim for which it may seek indemnity. Failure by the Indenture Trustee to so notify the Issuer and the Servicer shall not relieve the Issuer or the Servicer of its obligations hereunder. The Issuer shall, or shall cause the Servicer to, defend any such claim, and the Indenture Trustee may have separate counsel and the Issuer shall, or shall cause the Administrator to, pay the reasonable fees and expenses of such counsel. Neither the The Issuer nor the Servicer need is not obligated to reimburse any expense or indemnify against any loss, liability or expense incurred by the Indenture Trustee through the Indenture Trustee’s 's own willful misconduct, negligence or bad faith. Anything in this Agreement to the contrary notwithstanding, in no event shall the Indenture Trustee be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Indenture Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. The Issuer’s 's payment obligations to the Indenture Trustee pursuant to this Section 6.07 shall survive the discharge of this Indenture or the earlier resignation or removal of the Indenture TrusteeIndenture. When the Indenture Trustee incurs expenses after the occurrence of a an Event of Default specified in Section 5.01(d) or (e) with respect to the Issuer, the expenses are intended to constitute expenses of administration under Title 11 of the United States Code or any other applicable federal or state bankruptcy, insolvency or similar law.
Appears in 7 contracts
Samples: Indenture (Deutsche Mortgage Securities Inc), Indenture (Nomura Asset Acceptance Corp), Indenture (Nomura Home Equity Loan, Inc.)
Compensation and Indemnity. The Issuer shall pay or shall cause the Administrator or Servicer to pay to the Indenture Trustee from time to time reasonable compensation for its services. The Indenture Trustee’s 's compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuer shall or shall cause the Administrator or Servicer to reimburse the Indenture Trustee for all reasonable out-of-pocket expenses incurred or made by it, including costs of collection, in addition to the compensation for its services. Such expenses shall include but are not limited to the reasonable out-of-pocket compensation and expenses, disbursements and advances of the Indenture Trustee’s 's agents, counsel, accountants and experts. The Issuer shall indemnify or shall cause the Administrator or Servicer to indemnify the Indenture Trustee and its officers, directors, employees and agents against any and all loss, liability or expense (including attorneys’ fees and expenses' fees) incurred by it in connection with the administration of this trust and the performance of its duties hereunder or and under the Sale and Servicing Agreement or under any other Basic Document or in connection with the NotesTransaction Documents. The Indenture Trustee shall notify the Issuer Issuer, the Servicer and the Servicer Administrator promptly of any claim for which it may seek indemnity. Failure by the Indenture Trustee to so notify the Issuer Issuer, the Servicer and the Servicer Administrator shall not relieve the Issuer or the Servicer Administrator of its obligations hereunder. The Issuer shall, shall defend or shall cause the Administrator or Servicer to, to defend any such claim, and the Indenture Trustee may have separate counsel and the Issuer shall, shall pay or shall cause the Administrator to, or Servicer to pay the fees and expenses of such counsel. Neither the Issuer nor the Administrator or Servicer need reimburse any expense or indemnify against any loss, liability or expense incurred by the Indenture Trustee conclusively determined by a court of law of competent jurisdiction to have been incurred by the Indenture Trustee through the Indenture Trustee’s 's own willful misconduct, negligence or bad faith. The parties hereto agree and acknowledge that, notwithstanding anything to the contrary, all payments required to be made pursuant to this Section 6.07 shall not be made from the Trust Assets; provided, however, if an Event of Default has occurred, payments required to be made pursuant to this Section 6.07, to the extent unpaid, shall be paid in accordance with Section 5.06; provided, further, that any payments required to be made pursuant to this Section 6.07, if unpaid, shall not constitute a general recourse claim against the Issuer. Anything in this Agreement Indenture or any other Transaction Documents to the contrary notwithstanding, in no event shall the Indenture Trustee be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Indenture Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. The Issuer’s 's, Xxxxxxxx's and Administrator's payment obligations to the Indenture Trustee pursuant to this Section shall survive the discharge of this Indenture or the earlier resignation or and removal of the Indenture TrusteeTrustee and the discharge of this Indenture. When the Indenture Trustee incurs expenses after the occurrence of a Default specified in Section 5.01(d) or (e5.01(e) with respect to the Issuer, the expenses are intended to constitute expenses of administration under Title 11 of the United States Code or any other applicable federal or state bankruptcy, insolvency or similar law.
Appears in 7 contracts
Samples: Indenture (Cit Equipment Collateral 2001-1), Indenture (Cit Equipment Collateral 2002-Vt1), Indenture (Cit Equipment Collateral 2003-Vt1)
Compensation and Indemnity. (a) The Issuer shall cause the Servicer Administrator to pay to the Indenture Trustee from time to time reasonable compensation for its services. The Indenture Trustee’s 's compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuer shall cause the Servicer Administrator to reimburse the Indenture Trustee for all reasonable out-of-pocket expenses incurred or made by it, including costs of collection, in addition to the compensation for its services. Such expenses shall include but are not limited to the reasonable out-of-pocket compensation and expenses, disbursements and advances of the Indenture Trustee’s 's agents, counsel, accountants and experts. The Issuer shall cause the Servicer Administrator to indemnify the Indenture Trustee against Trustee, its directors, officers and agents for, and to hold it harmless against, any and all loss, liability or expense (including attorneys’ ' fees and expensesdisbursements) incurred by it in connection with the administration of this trust and the performance of its duties hereunder hereunder, including the costs and expenses of defending itself against any claim or under the Sale and Servicing Agreement or under any other Basic Document or liability in connection with the Notesexercise or performance of any of its powers or duties hereunder. The Indenture Trustee shall notify the Issuer and the Servicer Administrator promptly of any claim for which it may seek indemnity. Failure by the Indenture Trustee to so notify the Issuer and the Servicer Administrator shall not relieve the Issuer or the Servicer Administrator of its obligations hereunder. The Issuer shall, or shall cause the Servicer to, Administrator to defend any such claim, and the Indenture Trustee may have separate counsel and the Issuer shall, or shall cause the Administrator to, to pay the fees and expenses of such counsel. Neither the Issuer nor the Servicer Administrator need reimburse any expense or indemnify indemnity against any loss, liability or expense incurred by the Indenture Trustee through the Indenture Trustee’s 's own willful misconduct, negligence or bad faith. Anything in this Agreement to the contrary notwithstanding, in no event shall the Indenture Trustee be liable for special, indirect or consequential loss or damage of any kind whatsoever .
(including but not limited to lost profits), even if the Indenture Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. b) The Issuer’s 's payment obligations to the Indenture Trustee pursuant to this Section 6.7 shall survive the discharge of this Indenture or the earlier resignation or removal of the Indenture TrusteeTrustee and the discharge of this Indenture. When the Indenture Trustee incurs expenses after the occurrence of a Default specified in Section 5.01(d5.1(iv) or (ev) with respect to the Issuer, the expenses are intended to constitute expenses of administration under Title 11 of the United States Code or any other applicable federal or state State bankruptcy, insolvency or similar law.
Appears in 6 contracts
Samples: Indenture (Usaa Acceptance LLC Trust 2004-1), Indenture (Usaa Acceptance LLC), Indenture (Usaa Acceptance LLC)
Compensation and Indemnity. The (a) Pursuant to Section 5.7(a) of the Sale and Servicing Agreement, the Issuer shall cause the Servicer to pay to the Indenture Trustee from time to time reasonable compensation for its services, as separately agreed. The Indenture Trustee’s 's compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuer shall cause the Servicer to reimburse the Indenture Trustee Trustee, pursuant to Section 5.7(a) of the Sale and Servicing Agreement, for all reasonable out-of-pocket expenses incurred or made by it, including costs of collection, in addition to the compensation for its services. Such expenses shall include but are not limited to the reasonable out-of-pocket compensation and expenses, disbursements and advances of the Indenture Trustee’s 's agents, counsel, accountants and experts. The Issuer shall or shall cause the Servicer to indemnify the Indenture Trustee against any and all loss, liability or expense (including attorneys’ fees and expenses) incurred by it the Trustee without willful misfeasance, negligence or bad faith on the Trustee's part arising out of or in connection with the acceptance or the administration of this trust and the performance of its duties hereunder hereunder, including the costs and expenses of defending itself against any claim or under the Sale and Servicing Agreement or under any other Basic Document or liability in connection with therewith and including any loss, liability or expense directly or indirectly incurred (regardless of negligence on the part of the Trustee or the Issuer) by the Trustee as a result of any penalty or other cost imposed by the Internal Revenue Service or other taxing authority (except any penalties arising out of fees paid to the Trustee or as a result of any action taken contrary to the Indenture) related to the tax status of the Issuer or the Notes. The Indenture Trustee shall notify the Issuer and the Servicer promptly of any claim for which it may seek indemnity. Failure by the Indenture Trustee to so notify the Issuer and the Servicer shall not relieve the Issuer of its obligations hereunder or the Servicer of its obligations hereunderunder Article XII of the Sale and Servicing Agreement. The Issuer shall, or shall cause the Servicer to, defend any such claim, and the Indenture Trustee may have separate counsel and the Issuer shall, shall or shall cause the Administrator to, Servicer to pay the fees and expenses of such counsel. Neither the Issuer nor the Servicer need reimburse any expense or indemnify against any loss, liability or expense incurred by the Indenture Trustee through the Indenture Trustee’s 's own willful misconduct, negligence or bad faith. Anything in this Agreement to the contrary notwithstanding, in no event shall the Indenture Trustee be liable for special, indirect or consequential loss or damage of any kind whatsoever .
(including but not limited to lost profits), even if the Indenture Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. b) The Issuer’s 's payment obligations to the Indenture Trustee pursuant to this Section shall survive the discharge of this Indenture or the earlier resignation or removal of the Indenture TrusteeIndenture. When the Indenture Trustee incurs expenses after the occurrence of a Default specified in Section 5.01(d) or (e5.1(a)(v) with respect to the Issuer, the expenses are intended to constitute expenses of administration under Title 11 of the United States Code or any other applicable federal Federal or state State bankruptcy, insolvency or similar law. Notwithstanding anything else set forth in this Indenture or the Basic Documents, the recourse of the Trustee hereunder and under the Basic Documents shall be to the Trust Estate only and specifically shall not be recourse to the assets of the Seller, the Depositor, any Noteholder or any Residual Certificateholder. In addition, the Trustee agrees that its recourse to the Trust Estate and amounts held pursuant to the Master Spread Account Agreement shall be limited to the right to receive the distributions referred to in Section 5.7(a) of the Sale and Servicing Agreement.
Appears in 6 contracts
Samples: Indenture (Consumer Portfolio Services Inc), Indenture (Consumer Portfolio Services Inc), Indenture (Consumer Portfolio Services Inc)
Compensation and Indemnity. (a) The Issuer shall cause the Servicer Administrator to pay to the Indenture Trustee from time to time reasonable compensation for its services. The Indenture Trustee’s 's compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuer shall cause the Servicer Administrator to reimburse the Indenture Trustee for all reasonable out-of-pocket expenses incurred or made by it, including costs of collection, in addition to the compensation for its services. Such expenses shall include but are not limited to the reasonable out-of-pocket compensation and expenses, disbursements and advances of the Indenture Trustee’s 's agents, counsel, accountants and experts. The Issuer shall cause the Servicer Administrator to indemnify the Indenture Trustee against for, and to hold it harmless against, any and all loss, liability or expense (including attorneys’ fees and expenses' fees) incurred by it in connection with the administration of this trust and the performance of its duties hereunder hereunder, including the costs and expenses of defending itself against any claim or under the Sale and Servicing Agreement or under any other Basic Document or liability in connection with the Notesexercise or performance of any of its powers or duties hereunder. The Indenture Trustee shall notify the Issuer and the Servicer Administrator promptly of any claim for which it may seek indemnity. Failure by the Indenture Trustee to so notify the Issuer and the Servicer Administrator shall not relieve the Issuer or the Servicer Administrator of its obligations hereunder. The Issuer shall, or shall cause the Servicer to, Administrator to defend any such claim, and the Indenture Trustee may have separate counsel and the Issuer shall, or shall cause the Administrator to, to pay the fees and expenses of such counsel. Neither the Issuer nor the Servicer Administrator need reimburse any expense or indemnify indemnity against any loss, liability or expense incurred by the Indenture Trustee through the Indenture Trustee’s 's own willful misconduct, negligence or bad faith. Anything in this Agreement to the contrary notwithstanding, in no event shall the Indenture Trustee be liable for special, indirect or consequential loss or damage of any kind whatsoever .
(including but not limited to lost profits), even if the Indenture Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. b) The Issuer’s 's payment obligations to the Indenture Trustee pursuant to this Section 6.7 shall survive the discharge of this Indenture or the earlier resignation or removal of the Indenture TrusteeTrustee and the discharge of this Indenture. When the Indenture Trustee incurs expenses after the occurrence of a Default specified in Section 5.01(d5.1(iv) or (ev) with respect to the Issuer, the expenses are intended to constitute expenses of administration under Title 11 of the United States Code or any other applicable federal or state State bankruptcy, insolvency or similar law.
Appears in 5 contracts
Samples: Indenture Agreement (Usaa Acceptance LLC), Indenture (Usaa Federal Savings Bank), Indenture (Usaa Federal Savings Bank Usaa Auto Owner Trust 2001-1)
Compensation and Indemnity. (a) The Issuer shall, or shall cause the Servicer to Administrator to, pay to the Indenture Trustee from time to time reasonable compensation for its servicesservices pursuant to a fee agreement between the Administrator and the Indenture Trustee. The Indenture Trustee’s compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuer shall, or shall cause the Servicer to Administrator to, reimburse the Indenture Trustee for all reasonable out-of-pocket expenses expenses, disbursements and advances incurred or made by it, including costs of collection, in addition to the compensation for its services. Such expenses shall include but are not limited to the reasonable out-of-pocket compensation and expenses, disbursements and advances of the Indenture Trustee’s agents, counsel, accountants and experts. The Issuer shall, or shall cause the Servicer to Administrator to, indemnify and hold harmless the Indenture Trustee and its officers, directors, employees, representatives and agents against any and all loss, liability liability, tax (other than taxes based on the income of the Indenture Trustee) or expense (including attorneys’ fees and expensesfees) of whatever kind or nature regardless of their merit directly or indirectly incurred by it in connection with the administration or them without willful misconduct, negligence or bad faith on their part, arising out of this trust and the performance of its duties hereunder or under the Sale and Servicing Agreement or under any other Basic Document or in connection with the Notesacceptance or administration of the transactions contemplated by this Indenture, including the reasonable costs and expenses of defending themselves against any claim or liability in connection with the exercise or performance of any of their powers or duties under this Indenture or under any of the other Basic Documents. The Indenture Trustee shall notify the Issuer and the Servicer Administrator promptly of any claim for which it may seek indemnity. Failure by the Indenture Trustee to so notify the Issuer and the Servicer Administrator shall not relieve the Issuer or the Servicer Administrator of its obligations hereunder. The Issuer shall, or shall cause the Servicer Administrator to, defend any such claim, and the Indenture Trustee may have separate counsel and the Issuer shall, or shall cause the Administrator to, pay the fees and expenses of such counsel. Neither the Issuer nor the Servicer Administrator need reimburse any expense or indemnify against any loss, liability or expense incurred by the Indenture Trustee through the Indenture Trustee’s own willful misconduct, negligence or bad faith. Anything in this Agreement to the contrary notwithstanding, in no event shall the Indenture Trustee be liable for special, indirect or consequential loss or damage of any kind whatsoever .
(including but not limited to lost profits), even if the Indenture Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. b) The Issuer’s payment obligations to the Indenture Trustee pursuant to this Section shall survive the discharge of this Indenture or the earlier resignation or removal of the Indenture TrusteeIndenture. When the Indenture Trustee incurs expenses after the occurrence of a Default specified in Section 5.01(d) or (e5.01(v) with respect to the Issuer, the expenses are intended to constitute expenses of administration under Title 11 of the United States Bankruptcy Code or any other applicable federal or state bankruptcy, insolvency or similar lawInsolvency Law.
Appears in 5 contracts
Samples: Indenture (Mercedes-Benz Auto Receivables Trust 2014-1), Indenture (Mercedes-Benz Auto Receivables Trust 2013-1), Indenture (Mercedes Benz Auto Receivables Trust 2012-1)
Compensation and Indemnity. The Issuer shall cause the Servicer to pay to the Indenture Trustee from time to time reasonable compensation for its servicesservices pursuant to a fee agreement between NMAC and the Indenture Trustee. The Indenture Trustee’s compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuer shall cause the Servicer to reimburse the Indenture Trustee for all reasonable out-of-pocket expenses incurred or made by it, including costs of collectioncollection and the costs of implementing any Currency Swap Agreement as contemplated by Section 9.02, in addition to the compensation for its services. Such expenses shall include but are not limited to the reasonable out-of-pocket compensation and expenses, disbursements and advances of the Indenture Trustee’s agents, counsel, accountants and experts. The Issuer Administrator shall indemnify or shall cause the Servicer to indemnify the Indenture Trustee against any and all loss, liability or expense (including reasonable attorneys’ fees and expensesfees) incurred by it in connection with the administration of this trust Indenture or any of the Basic Documents and the performance of its duties hereunder or under the Sale and Servicing Agreement or under any other Basic Document or in connection with the Notesthereunder. The Indenture Trustee shall notify the Issuer Administrator and the Servicer promptly of any claim for which it may seek indemnity. Failure by the Indenture Trustee to so notify the Issuer Administrator and the Servicer shall not relieve the Issuer Administrator or the Servicer of its obligations hereunder. The Issuer shall, Administrator shall defend or shall cause the Servicer to, to defend any such claim, and the Indenture Trustee may have separate counsel and the Issuer shall, Administrator shall pay or shall cause the Administrator to, Servicer to pay the fees and expenses of such counsel. Neither the Issuer Administrator nor the Servicer need reimburse any expense or indemnify against any loss, liability or expense incurred by the Indenture Trustee through the Indenture Trustee’s own willful misconduct, negligence or bad faith. Anything in this Agreement to the contrary notwithstanding, in no event shall the Indenture Trustee be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Indenture Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. The IssuerAdministrator’s payment obligations to the Indenture Trustee pursuant to this Section shall survive the discharge of this Indenture or the earlier resignation or removal of the Indenture TrusteeIndenture. When the Indenture Trustee incurs expenses after the occurrence of a Default specified in Section 5.01(d5.01(f) or (eg) with respect to the Issuer, the expenses are intended to constitute expenses of administration under Title 11 of the United States Code or any other applicable federal or state bankruptcy, insolvency or similar law.
Appears in 5 contracts
Samples: Indenture (Nissan Auto Receivables Corp Ii), Indenture (Nissan Auto Receivables 2009-1 Owner Trust), Indenture (Nissan Auto Receivables 2009-a Owner Trust)
Compensation and Indemnity. The Issuer shall cause the Servicer Administrator to pay to the Indenture Trustee from time to time reasonable compensation for its services. The Indenture Trustee’s 's compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuer shall cause the Servicer Administrator to reimburse the Indenture Trustee for all reasonable out-of-pocket expenses incurred or made by it, including costs of collection, in addition to the compensation for its services. Such expenses shall include but are not limited to the reasonable out-of-pocket compensation and expenses, disbursements and advances of the Indenture Trustee’s 's agents, counsel, accountants and experts. The Issuer shall cause the Servicer Administrator to indemnify the Indenture Trustee against any and all loss, liability or expense (including attorneys’ ' fees and expenses) incurred by it in connection with the administration of this trust and the performance of its duties hereunder or under the Sale and Servicing Agreement or under any other Basic Document or in connection with the NotesDocument. The Indenture Trustee shall notify the Issuer and the Servicer Administrator promptly of any claim for which it may seek indemnity. Failure by the Indenture Trustee to so notify the Issuer and the Servicer Administrator shall not relieve the Issuer or the Servicer Administrator of its obligations hereunderhereunder if no prejudice to the Issuer or the Administrator shall have resulted from such failure. The Issuer shall, or shall cause the Servicer Administrator to, defend any such claim, and the Indenture Trustee may have separate counsel and the Issuer shall, or shall cause the Administrator to, pay the fees and expenses of such counsel. Neither the Issuer nor the Servicer Administrator need reimburse any expense or indemnify against any loss, liability or expense incurred by the Indenture Trustee through the Indenture Trustee’s 's own willful misconduct, negligence or bad faith. Anything in this Agreement The Issuer's payment obligations to the contrary notwithstanding, in no event shall the Indenture Trustee be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if and the Indenture Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. The Issuer’s obligations Administrator's indemnities to the Indenture Trustee pursuant to this Section shall survive the discharge of this Indenture or the earlier resignation or removal of the Indenture Trustee. When the Indenture Trustee incurs expenses after the occurrence of a Default specified in Section 5.01(d5.01(iv) or (ev) with respect to the Issuer, the expenses are intended to constitute expenses of administration under Title 11 of the United States Code or any other applicable federal or state bankruptcy, insolvency or similar law.
Appears in 4 contracts
Samples: Indenture (National City Auto Receivables Trust 2002-A), Indenture (SSB Vehicle Sec Huntington Auto Trust 2000-A), Indenture Agreement (National City Bank /)
Compensation and Indemnity. (a) The Issuer shall, or shall cause the Servicer to Administrator to, pay to the Indenture Trustee from time to time reasonable compensation for its services. The Indenture Trustee’s 's compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuer shall, or shall cause the Servicer to Administrator to, reimburse the Indenture Trustee for all reasonable out-of-pocket expenses incurred or made by it, including costs of collection, in addition to the compensation for its services. Such expenses shall include but are not limited to the reasonable out-of-pocket compensation and expenses, disbursements and advances of the Indenture Trustee’s 's agents, counsel, accountants and experts. The Issuer shall, or shall cause the Servicer to Administrator to, indemnify the Indenture Trustee against for, and to hold it harmless against, any and all loss, liability or expense (including attorneys’ fees and expenses' fees) incurred by it in connection with the administration of this trust and the performance of its duties hereunder hereunder, including the costs and expenses of defending itself against any claim or under the Sale and Servicing Agreement or under any other Basic Document or liability in connection with the Notesexercise or performance of any of its powers or duties hereunder. The Indenture Trustee shall notify the Issuer and the Servicer Administrator promptly of any claim for which it may seek indemnity. Failure by the Indenture Trustee to so notify the Issuer and the Servicer Administrator shall not relieve the Issuer or the Servicer Administrator of its obligations hereunder. The Issuer shall, or shall cause the Servicer Administrator to, defend any such claim, and the . The Indenture Trustee may have separate counsel and the Issuer shall, or shall cause the Administrator to, pay the fees and expenses of such counsel. Neither the Issuer nor the Servicer Administrator need reimburse any expense or indemnify indemnity against any loss, liability or expense incurred by the Indenture Trustee through the Indenture Trustee’s 's own willful misconduct, negligence or bad faith. Anything in this Agreement to the contrary notwithstanding, in no event shall the Indenture Trustee be liable for special, indirect or consequential loss or damage of any kind whatsoever .
(including but not limited to lost profits), even if the Indenture Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. b) The Issuer’s 's payment obligations to the Indenture Trustee pursuant to this Section 6.7 shall survive the discharge of this Indenture or the earlier resignation or removal of the Indenture TrusteeTrustee and the discharge of this Indenture. When the Indenture Trustee incurs expenses after the occurrence of a Default specified in Section 5.01(d5.1(iv) or (ev) with respect to the Issuer, the expenses are intended to constitute expenses of administration under Title 11 of the United States Code or any other applicable federal or state State bankruptcy, insolvency or similar law.
Appears in 4 contracts
Samples: Indenture (Ford Credit Auto Owner Trust 2004-A), Indenture (Ford Credit Auto Owner Trust 2005-A), Indenture (Ford Credit Auto Owner Trust 2005-C)
Compensation and Indemnity. The Issuer shall pay or shall cause the Administrator or Servicer to pay to the Indenture Trustee from time to time reasonable compensation for its services. The Indenture Trustee’s 's compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuer shall or shall cause the Administrator or Servicer to reimburse the Indenture Trustee for all reasonable out-of-pocket expenses incurred or made by it, including costs of collection, in addition to the compensation for its services. Such expenses shall include but are not limited to the reasonable out-of-pocket compensation and expenses, disbursements and advances of the Indenture Trustee’s 's agents, counsel, accountants and experts. The Issuer shall indemnify or shall cause the Administrator or Servicer to indemnify the Indenture Trustee and its officers, directors, employees and agents against any and all loss, liability or expense (including attorneys’ fees and expenses' fees) incurred by it in connection with the administration of this trust and the performance of its duties hereunder or under the Sale and Servicing Agreement or under any other Basic Document or in connection with the Noteshereunder. The Indenture Trustee shall notify the Issuer and the Servicer Administrator promptly of any claim for which it may seek indemnity. Failure by the Indenture Trustee to so notify the Issuer and the Servicer Administrator shall not relieve the Issuer issuer or the Servicer Administrator of its obligations hereunder. The Issuer shall, shall defend or shall cause the Administrator or Servicer to, to defend any such claim, and the Indenture Trustee may have separate counsel and the Issuer shall, shall pay or shall cause the Administrator to, or Servicer to pay the fees and expenses of such counsel. Neither the Issuer nor the Administrator or Servicer need reimburse any expense or indemnify against any loss, liability or expense incurred by the Indenture Trustee through the Indenture Trustee’s 's own willful misconduct, negligence or bad faith. Anything in this Agreement The parties hereto agree and acknowledge that, notwithstanding anything to the contrary notwithstandingcontrary, all payments required to be made pursuant to this Section 6.07 shall not be made from the Trust Assets; provided, however, if an Event of Default has occurred payments required to be made pursuant to this Section 6.07, to the extent unpaid, shall be paid in no event accordance with Section 5.06; provided, further, that any payments required to be made pursuant to this Section 6.07, if unpaid, shall not constitute a general recourse claim against the Indenture Trustee be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Indenture Trustee has been advised of the likelihood of such loss or damage and regardless of the form of actionIssuer. The Issuer’s 's, Servicer's and Administrator's payment obligations to the Indenture Trustee pursuant to this Section shall survive the discharge of this Indenture or the earlier resignation or removal of the Indenture TrusteeIndenture. When the Indenture Trustee incurs expenses after the occurrence of a Default specified in Section 5.01(d) or (e5.01(e) with respect to the Issuer, the expenses are intended to constitute expenses of administration under Title 11 of the United States Code or any other applicable federal or state bankruptcy, insolvency or similar law.
Appears in 4 contracts
Samples: Indenture (NCT Funding Co LLC), Indenture (NCT Funding Co LLC), Indenture (Ace Securities Corp)
Compensation and Indemnity. The Issuer shall or shall cause the Servicer to pay to the Indenture Trustee from time to time reasonable compensation for its servicesservices in accordance with a separate agreement between the Servicer and the Trustee. The Indenture Trustee’s 's compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuer shall or shall cause the Servicer to reimburse the Indenture Trustee for all reasonable out-of-pocket expenses incurred or made by it, including costs of collection, in addition to the compensation for its services. Such expenses shall include but are not limited to the reasonable out-of-pocket compensation and expenses, disbursements and advances of the Indenture Trustee’s 's agents, counsel, accountants and experts. The Issuer shall or shall cause the Servicer to indemnify the Indenture Trustee and its officers, directors, employees and agents against any and all loss, liability or expense (including attorneys’ ' fees and expenses) incurred by it in connection with the acceptance or the administration of this trust and the performance of its duties hereunder or under the Sale and Servicing Agreement or under any other Basic Document or in connection with the Noteshereunder. The Indenture Trustee shall notify the Issuer and the Servicer promptly of any claim for which it may seek indemnity. Failure by the Indenture Trustee to so notify the Issuer and the Servicer shall not relieve the Issuer of its obligations hereunder or the Servicer of its obligations hereunderunder Article X of the Sale and Servicing Agreement. The Issuer shall, shall or shall cause the Servicer to, to defend any such claim, the claim and the Indenture Trustee may have separate counsel and the Issuer shall, shall or shall cause the Administrator to, Servicer to pay the fees and expenses of such counsel. Neither the Issuer nor the Servicer need reimburse any expense or indemnify against any loss, liability or expense incurred by the Indenture Trustee through the Indenture Trustee’s 's own willful misconduct, negligence or bad faith. Anything in this Agreement to the contrary notwithstanding, in no event shall the Indenture Trustee be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Indenture Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. The Issuer’s 's payment obligations to the Indenture Trustee pursuant to this Section shall survive the discharge of this Indenture or and the earlier resignation or removal of the Indenture TrusteeTrustee subject to a satisfaction of the Rating Agency Condition. When the Indenture Trustee incurs expenses after the occurrence of a Default specified in Section 5.01(d5.1(iv) or (ev) with respect to the Issuer, the expenses are intended to constitute expenses of administration under Title 11 of the United States Code or any other applicable federal Federal or state bankruptcy, insolvency or similar law.
Appears in 4 contracts
Samples: Indenture (Oxford Resources Corp), Indenture (Mellon Auto Receivables Corp), Indenture (Barnett Auto Receivables Corp)
Compensation and Indemnity. The Issuer shall cause the Servicer to pay to the Indenture Trustee from time shall be entitled to time reasonable $3,000 per annum as compensation for its services. The Indenture Trustee’s compensation shall not be limited by any law on compensation of a trustee of an express trustservices hereunder. The Issuer shall cause the Servicer Administrator to reimburse the Indenture Trustee for all reasonable out-of-pocket expenses incurred or made by it, including costs of collection, in addition to the compensation for its services. Such expenses shall include but are not limited to the reasonable out-of-pocket compensation and expenses, disbursements and advances of the Indenture Trustee’s agents, counsel, accountants and experts. The Issuer shall cause the Servicer Administrator to indemnify the Indenture Trustee against for, and hold it harmless against, any and all loss, liability or expense (including reasonable attorneys’ fees and expenses) incurred by it in connection with the administration of this trust and the performance of its duties hereunder or under the Sale and Servicing Agreement or under any other Basic Document or in connection with the NotesDocument. The Indenture Trustee shall notify the Issuer and the Servicer Administrator promptly of any claim for which it may seek indemnity. Failure by the Indenture Trustee to so notify the Issuer and the Servicer Administrator shall not relieve the Issuer or the Servicer Administrator of its obligations hereunderhereunder if no prejudice to the Issuer or the Administrator shall have resulted from such failure. The Issuer shall, or shall cause the Servicer Administrator to, defend any such claim, and the Indenture Trustee may have separate counsel and the Issuer shall, or shall cause the Administrator to, pay the fees and expenses of such counsel. Neither the Issuer nor the Servicer Administrator need reimburse any expense or indemnify against any loss, liability or expense incurred by the Indenture Trustee through the Indenture Trustee’s own willful misconduct, negligence or bad faith. Anything in this Agreement to the contrary notwithstanding, in no event shall except that the Indenture Trustee shall not be liable (i) for specialany error of judgment made by it in good faith unless it is proved that the Indenture Trustee was negligent in ascertaining the pertinent facts, indirect (ii) with respect to any action it takes or consequential loss or damage omits to take in good faith in accordance with a direction received by it from the Noteholders in accordance with the terms of this Indenture and (iii) for interest on any money received by it except as the Indenture Trustee and the Issuer may agree in writing. The Indenture Trustee shall not be deemed to have knowledge of any kind whatsoever (including but not limited to lost profits), even if event unless a Responsible Officer of the Indenture Trustee has been advised of the likelihood of such loss actual knowledge thereof or damage and regardless of the form of actionhas received written notice thereof. The IssuerAdministrator’s payment obligations and indemnities to the Indenture Trustee pursuant to this Section shall survive the discharge of this Indenture or the earlier resignation or removal of the Indenture Trustee. When the Indenture Trustee incurs expenses after the occurrence of a Default specified in Section 5.01(d5.01(iv) or (ev) with respect to the Issuer, the expenses are intended to constitute expenses of administration under Title 11 of the United States Bankruptcy Code or any other applicable federal or state State bankruptcy, insolvency or similar law.
Appears in 4 contracts
Samples: Indenture (BMW Fs Securities LLC), Indenture (BMW Fs Securities LLC), Indenture (BMW Fs Securities LLC)
Compensation and Indemnity. The Issuer shall cause the Servicer to pay to As compensation for its services hereunder, the Indenture Trustee from time shall be entitled to time reasonable compensation for its services. The receive, on each Distribution Date, the Indenture Trustee’s 's Fee and Transition Expenses pursuant to Section 5.01 of the Sale and Servicing Agreement (which compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuer ) and shall cause the Servicer be entitled to reimburse the Indenture Trustee reimbursement in addition to Transition Expenses, for all reasonable out-of-pocket expenses incurred or made by it, including costs of collection, in addition to the compensation for its services. Such expenses shall include but are not limited to the reasonable out-of-pocket compensation and expenses, disbursements and advances of the Indenture Trustee’s 's agents, counsel, accountants and experts. The Issuer shall agrees to cause the Servicer to indemnify the Indenture Trustee against any and all loss, liability or expense (including attorneys’ fees and expenses' fees) incurred by it in connection with the administration of this trust and the performance of its duties hereunder or under hereunder. Such indemnity shall not be an expense of the Sale and Servicing Agreement or under any other Basic Document or in connection with the NotesTrust. The Indenture Trustee shall notify the Issuer and the Servicer promptly of any claim for which it may seek indemnity. Failure by the Indenture Trustee to so notify the Issuer and the Servicer shall not relieve the Issuer or the Servicer of its obligations hereunder. The Issuer shall, shall or shall cause the Servicer to, to defend any such claim, and the Indenture Trustee may have separate counsel and the Issuer shall, shall or shall cause the Administrator to, Servicer to pay the fees and expenses of such counsel. Neither the Issuer nor the Servicer need to reimburse any expense or to indemnify against any loss, liability or expense incurred by the Indenture Trustee through the Indenture Trustee’s 's own willful misconduct, negligence or bad faith. Anything in this Agreement Indenture to the contrary notwithstanding, in no event shall the Indenture Trustee be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Indenture Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. This indemnity shall survive the termination of this Indenture. The Issuer’s 's payment obligations to the Indenture Trustee pursuant to this Section 6.7 shall survive the discharge of this Indenture or the earlier resignation or removal of the Indenture TrusteeIndenture. When the Indenture Trustee incurs expenses or provides services after the occurrence of a Default specified in Section 5.01(d5.1(e) or (ef) hereof with respect to the Issuer, the expenses and fees for such services are intended to constitute expenses of administration under Title 11 of the United States Code or any other applicable federal or state bankruptcy, insolvency or similar law.
Appears in 4 contracts
Samples: Indenture (Chec Funding LLC), Indenture (Renaissance Mortgage Acceptance Corp), Indenture (Renaissance Mortgage Acceptance Corp)
Compensation and Indemnity. The Issuer Issuing Entity shall or shall cause the Servicer (pursuant to the Sale and Servicing Agreement) to pay to the Indenture Trustee from time to time reasonable compensation for its services. The Indenture Trustee’s compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuer Issuing Entity shall or shall cause the Servicer (pursuant to the Sale and Servicing Agreement) to reimburse the Indenture Trustee for all reasonable out-of-pocket expenses incurred or made by it, including pursuant to Section 6.08 and costs of collection, in addition to the compensation for its services. Such expenses shall include but are not limited to the reasonable out-of-pocket compensation and expenses, disbursements and advances of the Indenture Trustee’s agents, counsel, accountants and experts. The Issuer Issuing Entity shall or shall cause the Servicer (pursuant to the Sale and Servicing Agreement) to indemnify the Indenture Trustee against any and all loss, liability liability, claim, damage or expense (including attorneys’ the fees and expensesof either in-house counsel or outside counsel, but not both) incurred by it in connection with the administration of this trust and the performance of its duties hereunder or under the Sale and Servicing Agreement or under any other Basic Document or in connection with the Noteshereunder. The Indenture Trustee shall notify the Issuer Issuing Entity and the Servicer promptly of any claim for which it may seek indemnity. Failure by the Indenture Trustee to so notify the Issuer Issuing Entity and the Servicer shall not relieve the Issuer Issuing Entity or the Servicer of its obligations hereunder. The Issuer shall, Issuing Entity shall or shall cause the Servicer to, to defend any such claim, the claim and the Indenture Trustee may have separate counsel and the Issuer shall, Issuing Entity shall or shall cause the Administrator to, Servicer to pay the fees and expenses of such counsel. Neither the Issuer Issuing Entity nor the Servicer need reimburse any expense or indemnify against any loss, liability or expense incurred by the Indenture Trustee through the Indenture Trustee’s own willful misconduct, negligence or bad faith. Anything in this Agreement to the contrary notwithstanding, in no event shall the Indenture Trustee be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Indenture Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. The IssuerIssuing Entity’s payment obligations to the Indenture Trustee pursuant to this Section shall survive the discharge of this Indenture or the earlier resignation or removal of the Indenture TrusteeIndenture. When the Indenture Trustee incurs expenses after the occurrence of a Default specified in Section 5.01(d5.01(iv) or (ev) with respect to the IssuerIssuing Entity, the expenses are intended to constitute expenses of administration under Title 11 of the United States Bankruptcy Code or any other applicable federal or state State bankruptcy, insolvency or similar law.
Appears in 4 contracts
Samples: Indenture (John Deere Owner Trust 2015-B), Indenture (John Deere Owner Trust 2015), Indenture (John Deere Owner Trust 2014)
Compensation and Indemnity. The Indenture Trustee shall be entitled to $[______] per annum as compensation for its services hereunder. The Issuer shall, or shall cause the Servicer Administrator to (i) pay to the Indenture Trustee’s fees, (ii) reimburse the Indenture Trustee from time to time for all reasonable expenses (which shall include reasonable (and customary) out-of-pocket compensation for and expenses, disbursements and advances of the Indenture Trustee’s agents, counsel, accountants and experts but shall exclude overhead), advances and disbursements reasonably incurred and (iii) indemnify the Indenture Trustee for, and hold it harmless against, any and all loss, liability or expense (including reasonable attorneys’ fees and expenses) incurred by it in connection with the administration of the Trust or the performance of its servicesduties. The Indenture Trustee’s compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuer shall cause the Servicer to reimburse the Indenture Trustee for all reasonable out-of-pocket expenses incurred or made by it, including costs of collection, in addition to the compensation for its services. Such expenses shall include but are not limited to the reasonable out-of-pocket compensation and expenses, disbursements and advances of the Indenture Trustee’s agents, counsel, accountants and experts. The Issuer shall cause the Servicer to indemnify the Indenture Trustee against any and all loss, liability or expense (including attorneys’ fees and expenses) incurred by it in connection with the administration of this trust and the performance of its duties hereunder or under the Sale and Servicing Agreement or under any other Basic Document or in connection with the Notes. The Indenture Trustee shall notify the Issuer and the Servicer Administrator promptly of any claim for which it may seek indemnity. Failure by the Indenture Trustee to so notify the Issuer and the Servicer Administrator shall not relieve the Issuer or the Servicer Administrator of its obligations hereunder. The Issuer shall, or shall cause the Servicer Administrator to, defend any such claim, and the Indenture Trustee may have separate counsel and the Issuer shall, or shall cause the Administrator to, pay the fees and expenses of such counsel. Neither The Indenture Trustee shall not be indemnified by the Issuer nor the Servicer need reimburse any expense or indemnify Administrator against any loss, liability or expense incurred by the Indenture Trustee it through the Indenture Trustee’s its own willful misconduct, negligence or bad faith. Anything in this Agreement to the contrary notwithstanding, in no event shall except that the Indenture Trustee shall not be liable (i) for specialany error of judgment made by it in good faith unless it is proved that the Indenture Trustee was negligent in ascertaining the pertinent facts, indirect (ii) with respect to any action it takes or consequential loss or damage omits to take in good faith in accordance with a direction received by it from the Noteholders in accordance with the terms of this Indenture and (iii) for interest on any money received by it except as the Indenture Trustee and the Issuer may agree in writing. The Indenture Trustee shall not be deemed to have knowledge of any kind whatsoever (including but not limited to lost profits), even if event unless a Responsible Officer of the Indenture Trustee has been advised of the likelihood of such loss actual knowledge thereof or damage and regardless of the form of actionhas received written notice thereof. The Issuer’s payment obligations to the Indenture Trustee and the Administrator’s indemnities to the Indenture Trustee pursuant to this Section shall survive the discharge of this Indenture or the earlier resignation or removal of the Indenture Trustee. When the Indenture Trustee incurs expenses after the occurrence of a Default specified set forth in Section 5.01(d5.01(e) or (ef) with respect to the Issuer, the expenses are intended to constitute expenses of administration under Title 11 of the United States Code or any other applicable federal or state bankruptcy, insolvency or similar law.
Appears in 3 contracts
Samples: Indenture (Financial Services Vehicle Trust), Indenture (Financial Services Vehicle Trust), Indenture (BMW Auto Leasing LLC)
Compensation and Indemnity. The Issuer shall cause the Servicer to pay to As compensation for its services hereunder, the Indenture Trustee from time shall be entitled to time reasonable compensation for its services. The receive, on each Payment Date, the Indenture Trustee’s 's Fee pursuant to Section 8.02(c) hereof (which compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuer ) and shall cause be entitled to reimbursement by the Master Servicer to reimburse the Indenture Trustee for all reasonable out-of-pocket expenses incurred or made by it, including costs of collection, in addition to the compensation for its services. Such expenses shall include but are not limited to the reasonable out-of-pocket compensation and expenses, disbursements and advances of the Indenture Trustee’s 's agents, counsel, accountants and expertsexperts and Opinions of Counsel hereunder. The Issuer shall agrees to cause the Servicer Master Servicer, at its expense, to indemnify the Indenture Trustee against any and all loss, liability or expense (including attorneys’ fees and expenses' fees) incurred by it in connection with the administration of this trust and the performance of its duties hereunder or under the Sale and Servicing Agreement or under any other Basic Document or in connection with the Noteshereunder. The Indenture Trustee shall notify the Issuer Issuer, the Servicer and the Master Servicer promptly of any claim for which it may seek indemnity. Failure by the Indenture Trustee so to so notify the Issuer Issuer, the Servicer and the Master Servicer shall not relieve the Issuer or the Servicer of its obligations hereunder. The Issuer shall, shall or shall cause the Master Servicer to, to defend any such claim, and the Indenture Trustee may have separate counsel reasonably acceptable to the Master Servicer and the Issuer shall, shall or shall cause the Administrator to, Master Servicer to pay the reasonable fees and expenses of such counsel. Neither the Issuer Issuer, the Servicer nor the Master Servicer need reimburse any expense or indemnify against any loss, liability or expense incurred by the Indenture Trustee through the Indenture Trustee’s 's own willful misconduct, negligence or bad faith. Anything in this Agreement to the contrary notwithstanding, in no event shall the Indenture Trustee be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Indenture Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. The Issuer’s 's payment obligations to the Indenture Trustee pursuant to this Section 6.07 shall survive the discharge of this Indenture or the earlier resignation or removal of the Indenture TrusteeIndenture. When the Indenture Trustee incurs expenses after the occurrence of a Default specified in Section 5.01(d5.01(a)(v) or (e) hereof with respect to the Issuer, the expenses are intended to constitute expenses of administration under Title 11 of the United States Code or any other applicable federal or state bankruptcy, insolvency or similar law.
Appears in 3 contracts
Samples: Indenture (Painewebber Mort Acce Corp Iv Fremont Home Ln Own Tr 1999-1), Indenture (Painewebber Mort Acce Corp Iv Fremont Home Ln Own Tr 1999-2), Indenture Agreement (Bcap LLC)
Compensation and Indemnity. The Issuer shall cause the Servicer to pay to As compensation for its services hereunder, the Indenture Trustee from time shall be entitled to time reasonable compensation for its services. The receive, on each Distribution Date, the Indenture Trustee’s 's Fee pursuant to Section 8.2(c) hereof (which compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuer ) and shall cause the Servicer be entitled to reimburse the Indenture Trustee reimbursement for all reasonable out-of-pocket expenses incurred or made by it, including costs of collection, in addition to the compensation for its services. Such expenses shall include but are not limited to the reasonable out-of-pocket compensation and expenses, disbursements and advances of the Indenture Trustee’s 's agents, counsel, accountants and experts. The Issuer shall agrees to cause the Servicer to indemnify the Indenture Trustee against any and all loss, liability or expense (including attorneys’ fees and expenses' fees) incurred by it in connection with the administration of this trust and the performance of its duties hereunder or under the Sale and Servicing Agreement or under any other Basic Document or in connection with the Noteshereunder. The Indenture Trustee shall notify the Issuer and the Servicer promptly of any claim for which it may seek indemnity. Failure by the Indenture Trustee to so notify the Issuer and the Servicer shall not relieve the Issuer or the Servicer of its obligations hereunder. The Issuer shall, shall or shall cause the Servicer to, to defend any such claim, and the Indenture Trustee may have separate counsel and the Issuer shall, shall or shall cause the Administrator to, Servicer to pay the fees and expenses of such counsel. Neither the Issuer nor the Servicer need reimburse any expense or indemnify against any loss, liability or expense incurred by the Indenture Trustee through the Indenture Trustee’s 's own willful misconduct, negligence or bad faith. Anything in this Agreement to the contrary notwithstanding, in no event shall the Indenture Trustee be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Indenture Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. The Issuer’s 's payment obligations to the Indenture Trustee pursuant to this Section shall survive the discharge of this Indenture or the earlier resignation or removal of the Indenture TrusteeIndenture. When the Indenture Trustee incurs expenses after the occurrence of a Default specified in Section 5.01(d5.1(e) or (ef) with respect to the Issuer, the expenses are intended to constitute expenses of administration under Title 11 of the United States Code or any other applicable federal or state bankruptcy, insolvency or similar law.
Appears in 3 contracts
Samples: Indenture (Equivantage Acceptance Corp), Indenture (Firstplus Investment Corp), Indenture (Firstplus Investment Corp)
Compensation and Indemnity. The Issuer shall, or shall cause the Servicer to Administrator to, pay to the Indenture Trustee from time to time reasonable compensation for its services. The Indenture Trustee’s compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuer shall, or shall cause the Servicer to Administrator to, reimburse the Indenture Trustee for all reasonable and documented out-of-pocket expenses incurred or made by it, including costs of collection, in addition to the compensation for its services. Such expenses shall include but are not limited to the reasonable out-of-pocket and documented compensation and expenses, disbursements and advances of the Indenture Trustee’s agents, counsel, accountants and experts. The Issuer shall, or shall cause the Servicer to Administrator to, indemnify the Indenture Trustee against any and all loss, liability or expense (including attorneys’ fees and expensesfees) incurred by it in connection with the administration of this trust and the performance of its duties hereunder or under the Sale and Servicing Agreement or under any other Basic Document or in connection with the Noteshereunder. The Indenture Trustee shall notify the Issuer and the Servicer Administrator promptly of any claim for which it may seek indemnity. Failure by the Indenture Trustee to so notify the Issuer and the Servicer Administrator shall not relieve the Issuer or the Servicer Administrator of its obligations hereunder. The Issuer shall, or shall cause the Servicer Administrator to, defend any such claim, and the Indenture Trustee may have separate counsel and the Issuer shall, or shall cause the Administrator to, pay the fees and expenses of such counsel. Neither the Issuer nor the Servicer Administrator need reimburse any expense or indemnify against any loss, liability or expense incurred by the Indenture Trustee through the Indenture Trustee’s own willful misconduct, negligence or bad faith. Anything in this Agreement to the contrary notwithstanding, in no event shall the Indenture Trustee be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Indenture Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. The Issuer’s payment obligations to the Indenture Trustee pursuant to this Section shall survive the discharge of this Indenture or the earlier resignation or removal of the Indenture TrusteeTrustee and the discharge of this Indenture. When the Indenture Trustee incurs expenses after the occurrence of a Default specified in Section 5.01(d5.01(iv) or (ev) with respect to the Issuer, the expenses are intended to constitute expenses of administration under Title 11 of the United States Code or any other applicable federal or state bankruptcy, insolvency or similar law.
Appears in 3 contracts
Samples: Indenture (World Omni Auto Receivables Trust 2005-A), Indenture (World Omni Auto Receivables LLC), Indenture (World Omni Auto Receivables Trust 2005-B)
Compensation and Indemnity. The Issuer shall pay or shall cause the Servicer Administrator to pay to the Indenture Trustee from time to time reasonable compensation for its services. The Indenture Trustee’s 's compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuer shall or shall cause the Servicer Administrator to reimburse the Indenture Trustee for all reasonable out-of-pocket expenses incurred or made by it, including costs of collection, in addition to the compensation for its services. Such expenses shall include but are not limited to the reasonable out-of-pocket compensation and expenses, disbursements and advances of the Indenture Trustee’s 's agents, counsel, accountants and experts. The Issuer shall indemnify or shall cause the Servicer Administrator to indemnify the Indenture Trustee against any and all loss, liability or expense (including attorneys’ fees and expenses' fees) incurred by it in connection with the administration of this trust and the performance of its duties hereunder or under the Sale and Servicing Agreement or under any other Basic Document or in connection with the Noteshereunder. The Indenture Trustee shall notify the Issuer and the Servicer Administrator promptly of any claim for which it may seek indemnity. Failure by the Indenture Trustee to so notify the Issuer and the Servicer Administrator shall not relieve the Issuer or the Servicer Administrator of its obligations hereunder. The Issuer shall, shall defend or shall cause the Servicer to, Administrator to defend any such claim, and the Indenture Trustee may have separate counsel and the Issuer shall, shall pay or shall cause the Administrator to, to pay the fees and expenses of such counsel. Neither the Issuer nor the Servicer Administrator need reimburse any expense or indemnify against any loss, liability or expense incurred by the Indenture Trustee through the Indenture Trustee’s 's own willful misconduct, negligence or bad faith. Anything in this Agreement to the contrary notwithstanding, in no event shall the Indenture Trustee be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Indenture Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. The Issuer’s 's payment obligations to the Indenture Trustee pursuant to this Section shall survive the resignation or removal of the Indenture Trustee and the discharge of this Indenture; provided that the Indenture or Trustee shall be entitled only to compensation for its services for the earlier period prior to the date of such resignation or removal of the Indenture Trustee. When the Indenture Trustee incurs expenses after the occurrence of a an Event of Default specified in Section 5.01(d5.01(iv) or (ev) with respect to the Issuer, the expenses are intended to constitute expenses of administration under Title 11 of the United States Code or any other applicable federal or state bankruptcy, insolvency or similar law.
Appears in 3 contracts
Samples: Indenture (Harley Davidson Customer Funding Corp), Indenture (Harley Davidson Customer Funding Corp), Indenture (Harley Davidson Customer Funding Corp)
Compensation and Indemnity. The Issuer shall pay or shall cause the Administrator or Servicer to pay to the Indenture Trustee from time to time reasonable compensation for its servicesservices as Indenture Trustee and as Paying Agent (if the Indenture Trustee serves as such) to the extent such compensation is not otherwise paid to the Indenture Trustee. The Indenture Trustee’s compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuer shall or shall cause the Administrator or the Servicer to reimburse the Indenture Trustee for all reasonable out-–of-–pocket expenses incurred or made by it, including costs of collection, in addition to the compensation for its services. Such expenses shall include but are not limited to the reasonable out-of-pocket compensation and expenses, disbursements and advances of the Indenture Trustee’s agents, counsel, accountants and experts. The Issuer shall indemnify or shall cause the Administrator or the Servicer to indemnify the Indenture Trustee against any and all loss, liability or expense (including attorneys’ fees and expenses) incurred by it in connection with the administration of this trust Indenture and the performance of its duties hereunder or hereunder, under the Sale Transfer and Servicing Agreement or under and any other Basic Document document or in connection with transaction contemplated herewith or therewith or as a Paying Agent for the NotesIssuer. The Indenture Trustee shall notify the Issuer and the Servicer Administrator promptly of any claim for which it may seek indemnity. Failure by the Indenture Trustee to so notify the Issuer and the Servicer Administrator shall not relieve the Issuer or the Servicer Administrator of its obligations hereunder. The Issuer shall, shall defend or shall cause the Administrator or the Servicer to, to defend any such claim, and the Indenture Trustee may have separate counsel and the Issuer shall, shall pay or shall cause the Administrator to, or the Servicer to pay the fees and expenses of such counsel. Neither the Issuer nor the Administrator or the Servicer need reimburse any expense or indemnify against any loss, liability or expense incurred by the Indenture Trustee through the Indenture Trustee’s own willful misconduct, negligence or bad faith. Anything in this Agreement to the contrary notwithstanding, in no event shall the Indenture Trustee be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Indenture Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. The Issuer’s payment and indemnification obligations to the Indenture Trustee pursuant to this Section shall survive the discharge of this Indenture or and the earlier removal or resignation or removal of the Indenture Trustee. When the Indenture Trustee incurs expenses after the occurrence of a Default specified in Section 5.01(dsubsections 5.01(j) or and (ek) with respect to the Issuer, the expenses are intended to constitute expenses of administration under Title 11 of the United States Code or any other applicable federal or state bankruptcy, insolvency or similar lawInsolvency Law.
Appears in 3 contracts
Samples: Indenture (American Capital Strategies LTD), Indenture (American Capital Strategies LTD), Indenture (American Capital Strategies LTD)
Compensation and Indemnity. The Issuer Indenture Trustee, as compensation for its activities hereunder, shall cause be entitled to withdraw from the Servicer Payment Account on each Payment Date prior to pay making distributions pursuant to Section 3.05 the Trustee Fee for such Payment Date. The Indenture Trustee shall be indemnified by the Seller in accordance with Section 4(b) of the Administration Agreement, and all amounts owing to the Indenture Trustee from time hereunder in excess of such amount shall be paid solely as provided in Section 3.05 hereof (subject to time reasonable compensation for its servicesthe priorities set forth therein). The Indenture Trustee’s compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuer shall cause the Servicer to reimburse the Indenture Trustee for all reasonable out-of-pocket expenses incurred or made by it, including costs of collectionTrustee Additional Expenses, in addition to the compensation for its services. Such expenses shall include but are not limited to the reasonable out-of-pocket compensation and expenses, disbursements and advances of the Indenture Trustee’s agents, counsel, accountants and experts. The Issuer shall cause the Servicer to indemnify the Indenture Trustee against any and all loss, liability or expense (including attorneys’ fees and expensesfees) incurred by it in connection with the administration of this trust and the performance of its duties hereunder or under the Sale and Servicing Agreement or under any other Basic Document or in connection with the Noteshereunder. The Indenture Trustee shall notify the Issuer and the Servicer promptly of any claim for which it may seek indemnity. Failure by the Indenture Trustee to so notify the Issuer and the Servicer shall not relieve the Issuer or the Servicer of its obligations hereunder. The Issuer shall, or shall cause the Servicer to, defend any such claim, and the Indenture Trustee may have separate counsel and the Issuer shall, or shall cause the Administrator to, pay the reasonable fees and expenses of such counsel. Neither the The Issuer nor the Servicer need is not obligated to reimburse any expense or indemnify against any loss, liability or expense incurred by the Indenture Trustee through the Indenture Trustee’s own willful misconduct, negligence or bad faith. Anything in this Agreement to the contrary notwithstanding, in no event shall the Indenture Trustee be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Indenture Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. The Issuer’s payment obligations to the Indenture Trustee pursuant to this Section 6.07 shall survive the discharge of this Indenture or the earlier resignation or removal of the Indenture TrusteeIndenture. When the Indenture Trustee incurs expenses after the occurrence of a an Event of Default specified in Section 5.01(d) or (e) with respect to the Issuer, the expenses are intended to constitute expenses of administration under Title 11 of the United States Code or any other applicable federal or state bankruptcy, insolvency or similar law.
Appears in 3 contracts
Samples: Indenture (Irwin Whole Loan Home Equity Trust 2005-C), Indenture (CSFB Acceptance Corp Home Equity Loan Back Notes Ser 2003-A), Indenture (Irwin Whole Loan Home Equity Trust 2005-B)
Compensation and Indemnity. The Issuer shall cause the Servicer to pay to the Indenture Trustee from time to time reasonable compensation for its services. The services hereunder as the Issuer and the Indenture Trustee’s Trustee may agree in writing (which compensation shall not be limited by any law on compensation of a trustee of an express trust). The Issuer shall cause the Servicer to reimburse the Indenture Trustee upon its request, for all reasonable out-of-pocket expenses incurred or made by it, including costs of collection, in addition to the compensation for its services. Such expenses shall include but are not limited to the reasonable out-of-pocket compensation and expenses, disbursements and advances of the Indenture Trustee’s agents, counsel, accountants and experts. The Issuer shall cause the Servicer to indemnify the Indenture Trustee and its officers, directors, employees and agents and hold them harmless against any and all loss, liability or expense (including attorneys’ fees and expensesdisbursements) incurred by it them in connection with the administration of this trust and the performance of its duties hereunder hereunder, including the costs and expenses of defending themselves against any claim or under the Sale and Servicing Agreement or under any other Basic Document or liability in connection with the Notesexercise or performance of their duties hereunder. The Indenture Trustee shall notify the Issuer and with a copy to the Servicer Servicer, promptly of any claim for which it may seek indemnity. Failure by the Indenture Trustee to so notify the Issuer and the Servicer shall not relieve the Issuer or the Servicer of its obligations hereunder. The Issuer shall, or shall cause defend the Servicer to, defend any such claim, claim and the Indenture Trustee may have separate counsel and the Issuer shall, or shall cause the Administrator Servicer to, pay the fees and expenses of such counsel. Neither the The Issuer nor the Servicer need not reimburse any expense or indemnify against any loss, liability or expense incurred by the Indenture Trustee through the Indenture Trustee’s own willful misconduct, negligence or bad faith. Anything in this Agreement to the contrary notwithstanding, in no event shall the Indenture Trustee be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Indenture Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. The Issuer’s payment obligations to the Indenture Trustee pursuant to this Section shall survive the discharge of this Indenture or the earlier resignation or removal of the Indenture TrusteeIndenture. When the Indenture Trustee incurs expenses after the occurrence of a Default specified in Section 5.01(d) or (e) with respect to the Issuer5.1(iv), the expenses are intended to constitute expenses of administration under Title 11 of the United States Code or any other applicable federal Federal or state State bankruptcy, insolvency or similar law. The Indenture Trustee agrees not to institute (alone or in conjunction with any other Person) against the Issuer any bankruptcy, reorganization, arrangement, insolvency, moratorium or liquidation proceedings or other proceedings under U.S. federal or State bankruptcy or similar laws on account of the non-payment to the Indenture Trustee of any amounts provided by this Section 6.7, until after the balance of each Note is reduced to zero and the expiration of a period equal to the longest applicable preference period under such bankruptcy laws and other applicable laws plus 366 days following such payment; provided, that nothing in this paragraph shall preclude, or be deemed to estop, the Indenture Trustee from taking any action prior to the expiration of the applicable preference period in any involuntary insolvency proceeding filed or commenced against the Issuer by a Person other than the Indenture Trustee or to otherwise limit any claims that the Indenture Trustee may have against the Issuer. The foregoing shall not limit the ability of the Indenture Trustee to take any action in accordance with Section 5.2.
Appears in 3 contracts
Samples: Indenture (Cef Equipment Holding LLC), Indenture (Cef Equipment Holding LLC), Indenture (Cef Equipment Holding LLC)
Compensation and Indemnity. The Issuer shall (x) Xxx Xxxxxx xxxxl cause the Servicer Administrator to pay to the Indenture Trustee from time to time reasonable compensation for its services. The Indenture Trustee’s 's compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuer shall cause the Servicer Administrator to reimburse the Indenture Trustee for all reasonable out-of-pocket expenses incurred or made by it, including costs of collection, in addition to the compensation for its services. Such expenses shall include but are not limited to the reasonable out-of-pocket compensation and expenses, disbursements and advances of the Indenture Trustee’s 's agents, counsel, accountants and experts. The Issuer shall cause the Servicer Administrator to indemnify the Indenture Trustee against Trustee, its directors, officers and agents for, and to hold it harmless against, any and all loss, liability or expense (including attorneys’ ' fees and expensesdisbursements) incurred by it in connection with the administration of this trust and the performance of its duties hereunder hereunder, including the costs and expenses of defending itself against any claim or under the Sale and Servicing Agreement or under any other Basic Document or liability in connection with the Notesexercise or performance of any of its powers or duties hereunder. The Indenture Trustee shall notify the Issuer and the Servicer Administrator promptly of any claim for which it may seek indemnity. Failure by the Indenture Trustee to so notify the Issuer and the Servicer Administrator shall not relieve the Issuer or the Servicer Administrator of its obligations hereunder. The Issuer shall, or shall cause the Servicer to, Administrator to defend any such claim, and the Indenture Trustee may have separate counsel and the Issuer shall, or shall cause the Administrator to, to pay the fees and expenses of such counsel. Neither the Issuer nor the Servicer Administrator need reimburse any expense or indemnify indemnity against any loss, liability or expense incurred by the Indenture Trustee through the Indenture Trustee’s 's own willful misconduct, negligence or bad faith. Anything in this Agreement to the contrary notwithstanding, in no event shall the Indenture Trustee be liable for special, indirect or consequential loss or damage of any kind whatsoever .
(including but not limited to lost profits), even if the Indenture Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. b) The Issuer’s 's payment obligations to the Indenture Trustee pursuant to this Section 6.7 shall survive the discharge of this Indenture or the earlier resignation or removal of the Indenture TrusteeTrustee and the discharge of this Indenture. When the Indenture Trustee incurs expenses after the occurrence of a Default specified in Section 5.01(d5.1(iv) or (ev) with respect to the Issuer, the expenses are intended to constitute expenses of administration under Title 11 of the United States Code or any other applicable federal or state State bankruptcy, insolvency or similar law.
Appears in 3 contracts
Samples: Indenture (USAA Auto Owner Trust 2006-2), Indenture (Usaa Auto Owner Trust 2003-1), Indenture (USAA Auto Owner Trust 2005-4)
Compensation and Indemnity. The Issuer shall, or shall cause the Servicer to Administrator to, pay to the Indenture Trustee from time to time reasonable compensation for its services. The Indenture Trustee’s 's compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuer shall, or shall cause the Servicer to Administrator to, reimburse the Indenture Trustee for all reasonable and documented out-of-pocket expenses incurred or made by it, including costs of collection, in addition to the compensation for its services. Such expenses shall include but are not limited to the reasonable out-of-pocket and documented compensation and expenses, disbursements and advances of the Indenture Trustee’s 's agents, counsel, accountants and experts. The Issuer shall, or shall cause the Servicer to Administrator to, indemnify the Indenture Trustee against any and all loss, liability or expense (including attorneys’ fees and expenses' fees) incurred by it in connection with the administration of this trust and the performance of its duties hereunder or under the Sale and Servicing Agreement or under any other Basic Document or in connection with the Noteshereunder. The Indenture Trustee shall notify the Issuer and the Servicer Administrator promptly of any claim for which it may seek indemnity. Failure by the Indenture Trustee to so notify the Issuer and the Servicer Administrator shall not relieve the Issuer or the Servicer Administrator of its obligations hereunder. The Issuer shall, or shall cause the Servicer Administrator to, defend any such claim, and the Indenture Trustee may have separate counsel and the Issuer shall, or shall cause the Administrator to, pay the fees and expenses of such counsel. Neither the Issuer nor the Servicer Administrator need reimburse any expense or indemnify against any loss, liability or expense incurred by the Indenture Trustee through the Indenture Trustee’s 's own willful misconduct, negligence or bad faith. Anything in this Agreement to the contrary notwithstanding, in no event shall the Indenture Trustee be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Indenture Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. The Issuer’s 's payment obligations to the Indenture Trustee pursuant to this Section shall survive the discharge of this Indenture or the earlier resignation or removal of the Indenture TrusteeTrustee and the discharge of this Indenture. When the Indenture Trustee incurs expenses after the occurrence of a Default specified in Section 5.01(d5.01(iv) or (ev) with respect to the Issuer, the expenses are intended to constitute expenses of administration under Title 11 of the United States Code or any other applicable federal or state bankruptcy, insolvency or similar law.
Appears in 3 contracts
Samples: Indenture (World Omni Auto Receivables LLC), Indenture (World Omni Auto Receivables LLC), Indenture (World Omni Auto Receivables LLC)
Compensation and Indemnity. The Issuer shall cause the Servicer to pay to As compensation for its services hereunder, the Indenture Trustee from time shall be entitled to time reasonable compensation for its services. The receive, on each Payment Date, the Indenture Trustee’s 's Fee pursuant to Section 5.01 of the Sale and Servicing Agreement (which compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuer ) and shall cause the Servicer be entitled to reimburse the Indenture Trustee reimbursement for all reasonable out-of-pocket expenses incurred or made by it, including costs of collection, in addition to the compensation for its services. Such expenses shall include but are not limited to the reasonable out-of-pocket compensation and expenses, disbursements and advances of the Indenture Trustee’s 's agents, counsel, accountants and experts. The Issuer shall cause the Servicer to indemnify the Indenture Trustee shall be indemnified from the Trust Estate against any and all loss, liability or expense (including attorneys’ fees and expenses' fees) incurred by it in connection with the administration of this trust and the performance of its duties hereunder or under the Sale and Servicing Agreement or under any other Basic Document or in connection with the Noteshereunder. The Indenture Trustee shall notify the Issuer and the Servicer promptly of any claim for which it may seek indemnity. Failure by the Indenture Trustee to so notify the Issuer and the Servicer shall not relieve the Issuer or the Servicer of its obligations hereunder. The Issuer shall, or shall cause the Servicer to, defend any such claim, and the Indenture Trustee may have separate counsel and the Issuer shall, or shall cause the Administrator to, pay the fees and expenses of such counsel. Neither the Issuer nor the Servicer need reimburse The Indenture Trustee shall not be entitled to any such reimbursement of any expense or indemnify to indemnification against any loss, liability or expense incurred by the Indenture Trustee through the Indenture Trustee’s 's own willful misconduct, negligence or bad faith. Anything in this Agreement Indenture to the contrary notwithstanding, in no event shall the Indenture Trustee be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Indenture Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. This indemnity shall survive the termination of this Indenture. The Issuer’s 's payment obligations to the Indenture Trustee pursuant to this Section 6.7 shall survive the discharge of this Indenture or the earlier resignation or removal of the Indenture TrusteeIndenture. When the Indenture Trustee incurs expenses or provides services after the occurrence of a Default specified in Section 5.01(d5.1(e) or (ef) hereof with respect to the Issuer, the expenses and fees for such services are intended to constitute expenses of administration under Title 11 of the United States Code or any other applicable federal or state bankruptcy, insolvency or similar law.
Appears in 3 contracts
Samples: Indenture (HFC Revolving Corp), Indenture (Bond Securitization LLC), Indenture (Fleet Home Equity Loan Corp)
Compensation and Indemnity. (a) The Issuer shall cause the Servicer to pay to the Indenture Trustee from time to time reasonable such compensation for its servicesservices as shall be agreed in writing. The Indenture Trustee’s compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuer shall cause the Servicer to reimburse the Indenture Trustee for all reasonable and actual out-of-pocket expenses incurred or made by it, including costs of collection, in addition to the compensation for its services. Such expenses shall include but are not limited to the reasonable and actual out-of-pocket compensation and expenses, disbursements and advances of the Indenture Trustee’s agents, counsel, accountants and experts. The Issuer shall cause the Servicer to indemnify the Indenture Trustee against (including its officers, directors, employees and agents) for, and hold it harmless against, any and all loss, liability liability, damage, claim or expense (including any reasonable attorneys’ fees and expenses) directly or indirectly related to, arising out of or otherwise incurred by it in connection with the administration of the trusts created by this trust Indenture and the performance of its duties hereunder or as Indenture Trustee under the Sale and Servicing Agreement or under any other Basic Document or in connection with the NotesDocuments. The Indenture Trustee shall notify the Issuer and the Servicer promptly of any claim for which it may seek indemnity. To the extent these fees and indemnification amounts are not paid by the Servicer, they will be paid out of Available Funds as described in the Sale and Servicing Agreement. Failure by the Indenture Trustee to so notify the Issuer and the Servicer shall not relieve the Issuer or the Servicer of its obligations hereunderhereunder if no prejudice to the Issuer or the Servicer shall have resulted from such failure. The Issuer shall, or shall cause the Servicer to, defend any such claim, and the Indenture Trustee may have separate counsel and the Issuer shall, or shall cause the Administrator Servicer to, pay the fees and expenses of such counsel. Neither Notwithstanding the foregoing, neither the Issuer nor the Servicer need reimburse any expense or indemnify against any loss, liability or expense incurred by the Indenture Trustee through or arising from (i) the Indenture Trustee’s own willful misconduct, negligence or bad faith. Anything in this Agreement to faith (including such conduct of its officers, directors, employees or agents), (ii) the contrary notwithstanding, in no event shall the Indenture Trustee be liable for special, indirect or consequential loss or damage breach of any kind whatsoever (including but not limited to lost profits), even if the Indenture Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. The Issuer’s obligations to the Indenture Trustee pursuant to this Section shall survive the discharge of this Indenture or the earlier resignation or removal of the Indenture Trustee. ’s representations or warranties hereunder, (iii) the negligence or willful misconduct of the Indenture Trustee in connection with its performance of the duties of successor Servicer under the Sale and Servicing Agreement, or (iv) any taxes fees or other charges on, based on or measure by, any fees, commissions or compensation received by the Indenture Trustee.
(b) When the Indenture Trustee incurs expenses after the occurrence of a an Event of Default specified in Section 5.01(d) or (e) with respect to the Issuer, the such expenses are intended to constitute expenses of administration under Title 11 of the United States Code or any other applicable federal or state State bankruptcy, insolvency or similar law.
(c) The provisions of this Section 6.07 shall survive the termination of this Indenture or the resignation or removal of the Indenture Trustee.
Appears in 3 contracts
Samples: Indenture (California Republic Funding LLC), Indenture (California Republic Funding LLC), Indenture (California Republic Funding LLC)
Compensation and Indemnity. The Issuer shall cause the Servicer Depositor to pay to the Indenture Trustee from time to time and the Indenture Administrator reasonable compensation for its servicestheir respective services in accordance with a separate agreement between the Depositor, the Indenture Trustee and the Indenture Administrator and shall cause the Depositor to reimburse the Indenture Trustee and the Indenture Administrator for all reasonable out-of-pocket expenses incurred or made by it as provided in such separate agreement. The Indenture Trustee’s and the Indenture Administrator’s compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuer (individually or in such capacities) shall cause the Servicer to reimburse the Indenture Trustee for all reasonable out-of-pocket expenses incurred or made by it, including costs of collection, in addition to the compensation for its services. Such expenses shall include but are not limited to the reasonable out-of-pocket compensation and expenses, disbursements and advances of the Indenture Trustee’s agents, counsel, accountants and experts. The Issuer shall cause the Servicer Administrator to indemnify the Indenture Trustee Trustee, the Indenture Administrator and their respective directors, officers, employees and agents against any and all loss, liability liability, claim or expense (including attorneys’ fees including, without limitation, costs and expensesexpenses of litigation and of investigation counsel fees, damages, judgments and amounts paid in settlement) incurred by it (individually or in such capacities) in connection with the administration of this trust and the performance of its duties hereunder or and under the Sale and Servicing Agreement or under any other Basic Document or in connection with the NotesDocuments. The Indenture Trustee and the Indenture Administrator (individually or in such capacities) shall notify the Issuer and the Servicer Administrator promptly of any claim for which it may seek indemnity. Failure by the Indenture Trustee or the Indenture Administrator, as the case may be, to so notify the Issuer and the Servicer Administrator shall not relieve the Issuer or the Servicer Administrator of its obligations hereunderhereunder and under the other Basic Documents. The Issuer shall, or shall cause the Servicer to, defend any such claim, Indenture Trustee and the Indenture Trustee may have Administrator shall be entitled to separate counsel and acceptable to them in their sole discretion the Issuer shall, or shall cause the Administrator to, pay the reasonable fees and expenses of such counselwhich shall be paid by the Administrator on behalf of the Issuer. Neither the Issuer nor the Servicer Administrator need reimburse any expense or indemnify against any loss, liability or expense incurred by the Indenture Trustee and the Indenture Administrator through the Indenture Trustee’s or the Indenture Administrator’s, as the case may be, own willful misconduct, negligence or bad faith. Anything in this Agreement to the contrary notwithstanding, in no event shall the Indenture Trustee be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Indenture Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. The Issuer’s payment obligations to the Indenture Trustee and the Indenture Administrator (individually or in such capacities) pursuant to this Section shall survive the discharge of this Indenture or the earlier resignation or removal of the Indenture TrusteeIndenture. When the Indenture Trustee incurs and the Indenture Administrator incur expenses after the occurrence of a Default specified in Section 5.01(d5.1(iv) or (ev) with respect to the Issuer, the expenses are intended to constitute expenses of administration under Title 11 of the United States Code or any other applicable federal Federal or state bankruptcy, insolvency or similar law.
Appears in 3 contracts
Samples: Indenture (SLC Student Loan Trust 2007-1), Indenture (SLC Private Student Loan Trust 2006-A), Indenture (SLC Student Loan Trust 2007-2)
Compensation and Indemnity. (a) The Issuer shall or shall cause the Servicer to to, pay to the Indenture Trustee from time to time reasonable compensation for its servicesservices in accordance with a separate agreement between the Servicer and the Trustee. The Indenture Trustee’s compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuer shall or shall cause the Servicer to reimburse the Indenture Trustee for all reasonable out-of-pocket expenses incurred or made by it, including costs of collection, in addition to the compensation for its services. Such expenses shall include but are not limited to the reasonable out-of-pocket compensation and expenses, disbursements and advances of the Indenture Trustee’s agents, counsel, accountants and experts. The Issuer shall or shall cause the Servicer to indemnify the Trustee, the Indenture Trustee Collateral Agent and their respective officers, directors, employees and agents against any and all loss, liability or expense (including attorneys’ fees and expenses) incurred by it in connection with the acceptance or the administration of this trust and the performance of its duties hereunder or under the Sale and Servicing Agreement or under any other Basic Document or in connection with the Noteshereunder. The Indenture Trustee shall notify the Issuer and the Servicer promptly of any claim for which it may seek indemnity. Failure by the Indenture Trustee to so notify the Issuer and the Servicer shall not relieve the Issuer of its obligations hereunder or the Servicer of its obligations hereunderunder Article X of the Sale and Servicing Agreement. The Issuer shall, shall or shall cause the Servicer to, to defend any such the claim, and the Indenture Trustee may have separate counsel and the Issuer shall, shall or shall cause the Administrator to, Servicer to pay the fees and expenses of such counsel. Neither the Issuer nor the Servicer need reimburse any expense or indemnify against any loss, liability or expense incurred by the Indenture Trustee through the Indenture Trustee’s own willful misconduct, negligence or bad faith. Anything Notwithstanding anything provided herein, the indemnification provided herein shall not constitute a claim against the Issuer other than in this Agreement to the contrary notwithstanding, in no event shall the Indenture Trustee be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Indenture Trustee has been advised accordance with Section 5.6(a)(ix) of the likelihood of such loss Sale and Servicing Agreement or damage and regardless of the form of action. 5.6(a) hereof.
(b) The Issuer’s obligations to the Indenture Trustee pursuant to this Section shall survive the discharge of this Indenture or the earlier resignation or removal of the Indenture TrusteeIndenture. When the Indenture Trustee incurs expenses after the occurrence of a Default specified in Section 5.01(d5.1(v) or (evi) with respect to the Issuer, the expenses are intended to constitute expenses of administration under Title 11 of the United States Code or any other applicable federal Federal or state bankruptcy, insolvency or similar law. Notwithstanding anything else set forth in this Indenture or the Basic Documents, the Trustee agrees that the obligations of the Issuer (but not the Servicer) to the Trustee hereunder and under the Basic Documents shall be recourse to the Trust Estate only and specifically shall not be recourse to the assets of any Certificateholder. Subject to Section 5.6 of this Indenture, the Trustee agrees that its recourse to the Issuer, the Trust Estate, the Certificateholders and the Seller shall be limited to the right to receive the distributions referred to in Section 5.6(a)(ix) of the Sale and Servicing Agreement and Section 5.6(a) hereof.
Appears in 3 contracts
Samples: Indenture (Franklin Auto Trust 2003-2), Indenture (Franklin Receivables Auto Trust 2003-1), Indenture (Franklin Auto Trust 2004-2)
Compensation and Indemnity. The Issuer shall cause the Servicer Administrator to pay to the Indenture Trustee from time to time reasonable such compensation as the Issuer, Administrator and Indenture Trustee shall from time to time agree in writing for its servicesall services rendered by the Indenture Trustee hereunder. The Indenture Trustee’s 's compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuer shall cause the Servicer Administrator to reimburse the Indenture Trustee for all reasonable out-of-pocket expenses incurred or made by it, including costs of collection, in addition to the compensation for its services. Such expenses shall include but are not limited to the reasonable out-of-pocket compensation and expenses, disbursements and advances of the Indenture Trustee’s 's agents, counsel, accountants and experts. The Issuer shall cause the Servicer Administrator to indemnify the Indenture Trustee against any and all loss, liability or expense (including attorneys’ ' fees and expenses) incurred by it in connection with the administration of this trust and the performance of its duties hereunder or under the Sale and Servicing Agreement or under any other Basic Document or in connection with the NotesDocument. The Indenture Trustee shall notify the Issuer and the Servicer Administrator promptly of any claim for which it may seek indemnity. Failure by the Indenture Trustee to so notify the Issuer and the Servicer Administrator shall not relieve the Issuer or the Servicer Administrator of its obligations hereunderhereunder if no prejudice to the Issuer or the Administrator shall have resulted from such failure. The Issuer shall, or shall cause the Servicer Administrator to, defend any such claim, and the Indenture Trustee may have separate counsel and the Issuer shall, or shall cause the Administrator to, pay the fees and expenses of such counsel. Neither the Issuer nor the Servicer Administrator need reimburse any expense or indemnify against any loss, liability or expense incurred by the Indenture Trustee through the Indenture Trustee’s 's own willful misconduct, negligence or bad faith. Anything in this Agreement The Issuer's and the Administrator's payment obligations to the contrary notwithstanding, in no event shall the Indenture Trustee be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if and the Indenture Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. The Issuer’s obligations Administrator's indemnities to the Indenture Trustee pursuant to this Section shall survive the discharge of this Indenture or the earlier resignation or removal of the Indenture Trustee. When the Indenture Trustee incurs expenses after the occurrence of a Default specified in Section 5.01(d5.01(iv) or (ev) with respect to the Issuer, the expenses are intended to constitute expenses of administration under Title 11 of the United States Code or any other applicable federal or state bankruptcy, insolvency or similar law.
Appears in 3 contracts
Samples: Indenture (Regions Auto Receivables Trust 2003-1), Indenture (Regions Auto Receivables Trust 2002-1), Indenture (Regions Acceptance LLC Regions Auto Receivables Tr 2003-2)
Compensation and Indemnity. The (a) As payable in the Series Supplement, the Issuer shall, or shall cause the Master Servicer to to, pay to the Indenture Trustee from time to time reasonable the Indenture Trustee Fee as compensation for its services. The Indenture Trustee’s 's compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuer shall or shall cause the Master Servicer to reimburse the Indenture Trustee for all reasonable out-of-pocket expenses incurred or made by it, including costs of collection, in addition to the compensation for its services. Such expenses shall include but are not limited to the reasonable out-of-pocket compensation and expenses, disbursements and advances of the Indenture Trustee’s 's agents, outside counsel, accountants and experts. The Issuer shall or shall cause the Master Servicer to indemnify the Indenture Trustee Trustee, and its respective officers, directors, employees and agents against any and all loss, liability or expense (including attorneys’ ' fees and expenses) incurred by it each of them in connection with the acceptance or the administration of this trust and the performance of its duties hereunder or under the Sale and Servicing Agreement or under any other Basic Document or in connection with the Noteshereunder. The Indenture Trustee shall notify the Issuer and the Master Servicer promptly of any claim for which it may seek indemnity. Failure by the Indenture Trustee to so notify the Issuer and the Master Servicer shall not relieve the Issuer of its obligations hereunder or the Master Servicer of its obligations hereunderunder Article XII of the Master Sale and Servicing Agreement. The Issuer shall, shall defend or shall cause the Master Servicer to, to defend any such claimclaim for indemnity that may arise against the Indenture Trustee, and or the Indenture Trustee may have separate counsel and the Issuer shall, shall or shall cause the Administrator to, Master Servicer to pay the fees and expenses of such counsel. Neither the Issuer nor the Master Servicer need reimburse any expense or indemnify against any loss, liability or expense incurred by the Indenture Trustee through the Indenture Trustee’s such Person's own willful misconduct, negligence or bad faith. Anything in this Agreement to the contrary notwithstanding, in no event shall the Indenture Trustee be liable for special, indirect or consequential loss or damage of any kind whatsoever .
(including but not limited to lost profits), even if the Indenture Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. b) The Issuer’s 's payment obligations to the Indenture Trustee pursuant to this Section shall survive the discharge of this Indenture or the earlier resignation or removal of the Indenture TrusteeTrustee and the discharge of this Indenture. When the Indenture Trustee incurs expenses after the occurrence of a Default specified in Section 5.01(d) or (e) an Insolvency Event with respect to the Issuer, the expenses are intended to constitute expenses of administration under Title 11 of the United States Code or any other applicable federal Federal or state bankruptcy, insolvency or similar law. Notwithstanding anything else set forth in this Indenture, the Basic Documents, the Series Supplement or any Related Documents, the Indenture Trustee agrees that the obligations of the Issuer (but not the Master Servicer) to the Indenture Trustee hereunder and under the Series Supplement or any Related Documents, shall be recourse to the Series Trust Estate only and specifically shall not be recourse to the assets of any Securityholder. In addition, the Indenture Trustee agrees that its recourse to the Issuer, the Series Trust Estate, the Seller and amounts held pursuant to the Series Support shall be limited to the right to receive the distributions as provided for in the payment priority provisions of the Series Supplement.
Appears in 2 contracts
Samples: Indenture (Household Auto Receivables Corp), Indenture (Household Auto Receivables Corp)
Compensation and Indemnity. The Issuer shall cause the Servicer pursuant to the Sale and Servicing Agreement to, (i) pay to the Indenture Trustee from time to time such compensation as the Servicer and the Indenture Trustee shall from time to time agree in writing for services rendered by the Indenture Trustee hereunder in accordance with a fee letter between the Servicer and the Indenture Trustee, (ii) reimburse the Indenture Trustee for all reasonable compensation for expenses, advances and disbursements reasonably incurred by it in connection with the performance of its servicesduties as Indenture Trustee and (iii) indemnify the Indenture Trustee for, and hold it harmless against, any and all loss, liability or expense (including reasonable attorneys' fees) incurred by it in connection with the administration of the trust or trusts hereunder or the performance of its duties as Indenture Trustee. The Indenture Trustee’s 's compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuer shall cause the Servicer to reimburse the Indenture Trustee for all reasonable out-of-pocket expenses incurred or made by it, including costs of collection, in addition to the compensation for its services. Such expenses shall include but are not limited to the reasonable out-of-pocket compensation and expenses, disbursements and advances of the Indenture Trustee’s agents, counsel, accountants and experts. The Issuer shall cause the Servicer to indemnify the Indenture Trustee against any and all loss, liability or expense (including attorneys’ fees and expenses) incurred by it in connection with the administration of this trust and the performance of its duties hereunder or under the Sale and Servicing Agreement or under any other Basic Document or in connection with the Notes. The Indenture Trustee shall notify the Issuer and the Servicer promptly of any claim for which it may seek indemnity. Failure by the Indenture Trustee to so notify the Issuer and the Servicer shall not relieve the Issuer or the Servicer of its obligations hereunder. The Issuer shall, or shall cause the Servicer to, defend any such claim, and the Indenture Trustee may have separate counsel and the Issuer shall, or shall cause the Administrator Servicer to, pay the fees and expenses of such counsel. Neither The Indenture Trustee shall not be indemnified by the Issuer nor Administrator, the Issuer, the Transferor or the Servicer need reimburse any expense or indemnify against any loss, liability or expense incurred by the Indenture Trustee it through the Indenture Trustee’s its own willful misconduct, negligence or bad faith. Anything in this Agreement to the contrary notwithstanding, in no event shall except that the Indenture Trustee shall not be liable (i) for special, indirect or consequential loss or damage any error of any kind whatsoever (including but not limited to lost profits), even if judgment made by it in good faith unless it is proved that the Indenture Trustee has been advised was negligent in ascertaining the pertinent facts, (ii) with respect to any action it takes or omits to take in good faith in accordance with a direction received by it from the Noteholders in accordance with the terms of this Indenture and (iii) for interest on any money received by it except as the likelihood of such loss or damage Indenture Trustee and regardless of the form of actionIssuer may agree in writing. The Issuer’s compensation and indemnity obligations to the Indenture Trustee pursuant to this Section shall survive the discharge of this Indenture or the earlier resignation or removal of the Indenture TrusteeIndenture. When the Indenture Trustee incurs expenses after the occurrence of a an Event of Default specified set forth in Section 5.01(d) or (e5.1(e) with respect to the Issuer, the expenses are intended to constitute expenses of administration under Title 11 of the United States Bankruptcy Code or any other applicable federal or state bankruptcy, insolvency or similar law.
Appears in 2 contracts
Samples: Indenture (Volkswagen Public Auto Loan Securitization LLC), Indenture (Vw Credit Leasing LTD)
Compensation and Indemnity. The Issuer shall pay or shall cause the Administrator or Servicer to pay to the Indenture Trustee from time to time reasonable compensation for its servicesservices as Indenture Trustee and as Paying Agent (if the Indenture Trustee serves as such) to the extent such compensation is not otherwise paid to the Indenture Trustee. The Indenture Trustee’s compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuer shall or shall cause the Administrator or the Servicer to reimburse the Indenture Trustee for all reasonable out-of-pocket expenses incurred or made by it, including costs of collection, in addition to the compensation for its services. Such expenses shall include but are not limited to the reasonable out-of-pocket compensation and expenses, disbursements and advances of the Indenture Trustee’s agents, counsel, accountants and experts. The Issuer shall indemnify or shall cause the Administrator or the Servicer to indemnify the Indenture Trustee against any and all loss, liability or expense (including attorneys’ fees and expenses) incurred by it in connection with the administration of this trust Indenture and the performance of its duties hereunder or hereunder, under the Sale Transfer and Servicing Agreement or under and any other Basic Document document or in connection with transaction contemplated herewith or therewith or as a Paying Agent for the NotesIssuer. The Indenture Trustee shall notify the Issuer and the Servicer Administrator promptly of any claim for which it may seek indemnity. Failure by the Indenture Trustee to so notify the Issuer and the Servicer Administrator shall not relieve the Issuer or the Servicer Administrator of its obligations hereunder. The Issuer shall, shall defend or shall cause the Administrator or the Servicer to, to defend any such claim, and the Indenture Trustee may have separate counsel and the Issuer shall, shall pay or shall cause the Administrator to, or the Servicer to pay the fees and expenses of such counsel. Neither the Issuer nor the Administrator or the Servicer need reimburse any expense or indemnify against any loss, liability or expense incurred by the Indenture Trustee through the Indenture Trustee’s own willful misconduct, negligence or bad faith. Anything in this Agreement to the contrary notwithstanding, in no event shall the Indenture Trustee be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Indenture Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. The Issuer’s payment and indemnification obligations to the Indenture Trustee pursuant to this Section shall survive the discharge of this Indenture or and the earlier removal or resignation or removal of the Indenture Trustee. When the Indenture Trustee incurs expenses after the occurrence of a Default specified in Section 5.01(d) or (eSections 5.01(j) with respect to the Issuer, the expenses are intended to constitute expenses of administration under Title 11 of the United States Code or any other applicable federal or state bankruptcy, insolvency or similar lawInsolvency Law.
Appears in 2 contracts
Samples: Indenture (American Capital Strategies LTD), Indenture (American Capital Strategies LTD)
Compensation and Indemnity. The Issuer shall cause the Servicer to pay to the Indenture Trustee from time to time reasonable shall be entitled, as compensation for its services, the Indenture Trustee Fee to be paid by the Master Servicer as provided in the Transfer and Servicing Agreement. The Indenture Trustee’s compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuer shall cause the Servicer to reimburse the Indenture Trustee and any co-trustee shall be reimbursed on behalf of the Issuer from funds in the Accounts, as provided in the Transfer and Servicing Agreement, for all reasonable ordinary out-of-pocket expenses incurred or made by it, including costs of collection, in addition to the compensation for its servicesservices (as provided in the Transfer and Servicing Agreement). Such Reimbursable expenses under this Section shall include but are not limited to the reasonable out-of-pocket compensation and expenses, disbursements and advances of the Indenture Trustee’s agents, counsel, accountants and experts. The Issuer shall cause the Servicer to indemnify the Indenture Trustee Trustee, any co-trustee and their respective employees, directors and agents, as provided in the Transfer and Servicing Agreement and from funds in the Accounts, against any and all claim, loss, liability or expense (including attorneys’ fees and expensesfees) incurred by it in connection with the administration of this trust and the performance of its duties hereunder or under the Sale and Servicing Agreement or under any other Basic Document or in connection with the NotesOperative Agreement. The Indenture Trustee or co-trustee, as applicable, shall notify the Issuer and the Servicer promptly of any claim for which it may seek indemnity. Failure by the Indenture Trustee or the co-trustee, as applicable, to so notify the Issuer and the Servicer shall not relieve the Issuer or the Servicer of its obligations hereunder. The Issuer shall, or shall cause the Servicer to, defend any such claim, and the Indenture Trustee and any co-trustee may have separate counsel and the Issuer shall, or shall cause the Administrator to, pay the fees and expenses of such counsel. Neither counsel shall be payable on behalf of the Issuer nor from funds in the Servicer need Accounts. The Issuer shall not be required to reimburse any expense or indemnify against any loss, liability or expense incurred by the Indenture Trustee or any co-trustee, as applicable, through the Indenture Trustee’s or co-trustee’s, as the case may be, own willful misconduct, negligence or bad faith. Anything in this Agreement to the contrary notwithstanding, in no event shall the Indenture Trustee be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Indenture Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. The Issuer’s obligations to the Indenture Trustee and any co-trustee pursuant to this Section shall survive the discharge of this Indenture or the earlier resignation or removal of the Indenture TrusteeTrustee and the termination of this Indenture. When the Indenture Trustee or any co-trustee incurs expenses after the occurrence of a Default specified in Section 5.01(d5.01(iv) or (ev) with respect to the Issuer, the expenses are intended to constitute expenses of administration under Title 11 of the United States Code or any other applicable federal or state bankruptcy, insolvency or similar law.
Appears in 2 contracts
Samples: Indenture (Homebanc Corp), Indenture (HMB Acceptance Corp.)
Compensation and Indemnity. The Issuer shall cause the Servicer to pay to the Indenture Trustee from time to time reasonable compensation for its services. The Indenture Trustee’s compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuer shall cause the Servicer to reimburse the Indenture Trustee for all reasonable out-of-pocket expenses incurred or made by it, including costs of collection, in addition to the compensation for its services. Such expenses shall include but are not limited to the reasonable out-of-pocket compensation and expenses, disbursements and advances of the Indenture Trustee’s agents, counsel, accountants and experts. The Issuer shall cause the Servicer to indemnify the Indenture Trustee against any and all loss, liability or expense (including attorneys’ fees and expenses) incurred by it in connection with the administration of this trust and the performance of its duties hereunder or under the Sale and Servicing Agreement or under any other Basic Document or in connection with the Notes. The Indenture Trustee shall notify the Issuer and the Servicer promptly of any claim for which it may seek indemnity. Failure by the Indenture Trustee to so notify the Issuer and the Servicer shall not relieve the Issuer or the Servicer of its obligations hereunder. The Issuer shall, or shall cause the Servicer to, defend any such claim, and the Indenture Trustee may have separate counsel and the Issuer shall, or shall cause the Administrator to, pay the fees and expenses of such counsel. Neither the Issuer nor the Servicer need reimburse any expense or indemnify against any loss, liability or expense incurred by the Indenture Trustee through the Indenture Trustee’s own willful misconduct, negligence or bad faith. Anything in this Agreement to the contrary notwithstanding, in no event shall the Indenture Trustee be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Indenture Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. The Issuer’s obligations to the Indenture Trustee pursuant to this Section shall survive the discharge of this Indenture or the earlier resignation or removal of the Indenture Trustee. When the Indenture Trustee incurs expenses after the occurrence of a Default specified in Section 5.01(d) or (e) with respect to the Issuer, the expenses are intended to constitute expenses of administration under Title 11 of the United States Code or any other applicable federal or state bankruptcy, insolvency or similar law.. 40 (2017-A Indenture)
Appears in 2 contracts
Samples: Indenture (Hyundai Abs Funding LLC), Indenture (Hyundai Auto Receivables Trust 2017-A)
Compensation and Indemnity. The Issuer shall cause the Servicer to pay to the Indenture Trustee for its own account from time to time reasonable such compensation together with any applicable value added tax, or similar tax chargeable in respect of such compensation other than any tax on its income, for its servicesservices as agreed in writing between the parties in the letter dated on or about the Issue Date (the "NOTE TRUSTEE FEE LETTER") from the Trustee to the Issuer, at the times and of the amounts specified in the Note Trustee Fee Letter and as otherwise due under the terms of this Indenture. The Indenture Trustee’s 's compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuer shall cause the Servicer to reimburse the Indenture Trustee upon request for all reasonable properly incurred out-of-pocket expenses incurred or made by it, including costs of collection, in addition to the compensation for its services. Such expenses shall include but are not limited to the reasonable out-of-pocket properly incurred compensation and expenses, disbursements and advances expenses of the Indenture Trustee’s agents, 's agents and counsel, accountants and experts. The Issuer shall cause the Servicer to indemnify the Indenture Trustee (which for the purposes of this Section 7.07 shall include its officers, directors, employees, agents, delegates, attorneys, co-trustee or additional but separate trustee) and any predecessor Trustee against any and all loss, liability or expense (damage and the reasonable costs or expenses including attorneys’ fees and expenses) any stamp, documentary or other similar Taxes or duties paid by the Trustee, incurred by it or its officers, directors, employees, agents, delegates, attorneys, co-trustee or additional but separate trustee in connection with the administration of this trust and the performance of its duties hereunder or under the Sale and Servicing Agreement or under any other Basic Document or in connection with the Noteshereunder. The Indenture Trustee shall notify the Issuer and the Servicer promptly of any claim for which it may seek indemnity. Failure by the Indenture Trustee to so notify the Issuer and the Servicer shall not relieve the Issuer or the Servicer of its obligations hereunder. The Issuer shall, or shall cause defend the Servicer to, defend any such claim, claim and the Indenture Trustee may have separate counsel and the Issuer shall, or shall cause the Administrator to, pay the fees and expenses of such counsel. Neither the The Issuer nor the Servicer need not reimburse any expense or indemnify against any loss, liability or expense incurred by the Indenture Trustee through the Indenture Trustee’s 's own willful misconduct, negligence or bad faith. Anything To secure the Issuer's payment obligations in this Agreement Section 7.07, the Trustee shall have a Lien prior to the contrary notwithstandingSenior Notes on all money or property held or collected by the Trustee other than money or property held in trust to pay principal of and interest on particular Senior Notes. The Issuer's payment obligations pursuant to this Section 7.07 and Sections 7.03 (Certain Rights and Discretions of Trustee) and 7.04 (Individual Rights of Trustee) shall survive the discharge of this Indenture or the resignation or removal of the Trustee. When the Trustee incurs expenses after the occurrence of a Default specified in either clause (8) or (9) of Section 6.01 (Events of Default) with respect to the Issuer, in the expenses are intended to constitute expenses of administration under Bankruptcy Law. In no event shall the Indenture Trustee be liable for any failure or delay in the performance of its obligations hereunder because of circumstances beyond its control, including but not limited to, acts of God, war (whether declared or undeclared), terrorism, fire, riot, embargo, government action, including any laws, ordinances, regulations, governmental action or the like which delay, restrict or prohibit the providing of the services contemplated by this Agreement. In no event shall the Trustee be liable for any indirect, special, indirect punitive or consequential loss or damage of any kind whatsoever (including whatsoever, including, but not limited to to, lost profits), even if the Indenture Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. The Issuer’s obligations to the Indenture Trustee pursuant to this Section shall survive the discharge of this Indenture or the earlier resignation or removal of the Indenture Trustee. When the Indenture Trustee incurs expenses after the occurrence of a Default specified in Section 5.01(d) or (e) with respect to the Issuer, the expenses are intended to constitute expenses of administration under Title 11 of the United States Code or any other applicable federal or state bankruptcy, insolvency or similar law.
Appears in 2 contracts
Samples: Indenture (Marconi Corp PLC), Indenture (Marconi Corp PLC)
Compensation and Indemnity. The (a) Pursuant to Section 5.6(b) of the Sale and Servicing Agreement, the Issuer shall, or shall cause the Servicer to to, pay to the Indenture Trustee from time to time reasonable compensation for its servicesservices and reimbursement for its expenses in accordance with a separate agreement between the Servicer and the Indenture Trustee. The Indenture Trustee’s 's compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuer shall cause the Servicer to reimburse the Indenture Trustee for all reasonable out-of-pocket expenses incurred or made by it, including costs of collection, in addition to the compensation for its services. Such expenses shall include but are not limited to the reasonable out-of-pocket compensation and expenses, disbursements and advances of the Indenture Trustee’s agents, counsel, accountants and experts. The Issuer shall cause the Servicer to indemnify the Indenture Trustee against any and all loss, liability or expense (including attorneys’ fees and expenses) incurred by it in connection with the administration of this trust and the performance of its duties hereunder or under the Sale and Servicing Agreement or under any other Basic Document or in connection with the Notes. The Indenture Trustee shall notify the Issuer and the Servicer promptly of any claim for which it may seek indemnity. Failure by the Indenture Trustee to so notify the Issuer and the Servicer shall not relieve the Issuer of its obligations hereunder or the Servicer of its obligations hereunderunder Article X of the Sale and Servicing Agreement. The Issuer shall, shall or shall cause the Servicer to, to defend any such the claim, and the Indenture Trustee may have separate counsel and the Issuer shall, shall or shall cause the Administrator to, Servicer to pay the fees and expenses of such counsel. Neither the Issuer nor the Servicer need reimburse any expense or indemnify against any loss, liability or expense incurred by the Indenture Trustee through the Indenture Trustee’s 's own willful misconduct, negligence or bad faith. Anything in this Agreement to the contrary notwithstanding, in no event shall the Indenture Trustee be liable for special, indirect or consequential loss or damage of any kind whatsoever .
(including but not limited to lost profits), even if the Indenture Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. b) The Issuer’s payment obligations to the Indenture Trustee pursuant to this Section shall survive the Termination Date and the discharge of this Indenture or the earlier resignation or removal subject to a satisfaction of the Indenture TrusteeRating Agency Condition. When the Indenture Trustee incurs expenses after the occurrence of a Default specified in Section 5.01(d5.1(v) or (evi) with respect to the Issuer, the expenses are intended to constitute expenses of administration under Title 11 of the United States Code or any other applicable federal Federal or state bankruptcy, insolvency or similar law.. Notwithstanding anything else set forth in this Indenture or the Basic Documents, the Indenture Trustee agrees that the obligations of the Issuer (but not the Servicer) to the Indenture Trustee hereunder and under the Basic Documents shall be recourse to the Trust Fund only and specifically shall not be recourse to the assets of the Seller, the Transferor, the Depositor, the Issuer or any Noteholder or any Certificateholder. In addition, the Indenture Trustee agrees that its recourse to the Seller, the Transferor, the Depositor, the Issuer, the Trust Fund and the Seller shall be limited to the right to receive the distributions referred to in Section 5.6(b) of the Sale and Servicing Agreement
Appears in 2 contracts
Samples: Indenture (Painewebber Asset Acceptance Corp), Indenture (Prudential Securities Secured Financing Corp)
Compensation and Indemnity. The Issuer shall, or shall cause the Servicer to Administrator to, pay to the Indenture Trustee from time to time reasonable compensation for its services. The Indenture Trustee’s 's compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuer shall, or shall cause the Servicer to Administrator to, reimburse the Indenture Trustee for all reasonable out-of-pocket expenses incurred or made by it, including costs of collection, in addition to the compensation for its services. Such expenses shall include but are not limited to the reasonable out-of-pocket compensation and expenses, disbursements and advances of the Indenture Trustee’s 's agents, counsel, accountants and experts. The Issuer shall, or shall cause the Servicer to Administrator to, indemnify the Indenture Trustee against any and all loss, liability or expense (including attorneys’ ' fees and expenses) incurred by it in connection with the administration of this trust and the performance of its duties hereunder or under the Sale and Servicing Agreement or under any other Basic Document or in connection with the NotesAgreement. The Indenture Trustee shall notify the Issuer and the Servicer Administrator promptly of any claim for which it may seek indemnity. Failure by the Indenture Trustee to so notify the Issuer and the Servicer Administrator shall not relieve the Issuer or the Servicer Administrator of its obligations hereunder. The Issuer shall, or shall cause the Servicer Administrator to, defend any such claim, and the Indenture Trustee may have separate counsel and the Issuer shall, or shall cause the Administrator to, pay the fees and expenses of such counsel. Neither the Issuer nor the Servicer Administrator need reimburse any expense or indemnify against any loss, liability or expense incurred by the Indenture Trustee through the Indenture Trustee’s 's own willful misconduct, negligence or bad faith. Anything in this Agreement The Issuer's payment obligations to the contrary notwithstanding, in no event shall the Indenture Trustee be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if and the Indenture Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. The Issuer’s obligations Administrator's indemnities to the Indenture Trustee pursuant to this Section shall survive the discharge of this Indenture or the earlier resignation or removal of the Indenture Trustee. When the Indenture Trustee incurs expenses after the occurrence of a Default specified in Section 5.01(d5.01(iv) or (ev) with respect to the Issuer, the expenses are intended to constitute expenses of administration under Title 11 of the United States Code or any other applicable federal or state bankruptcy, insolvency or similar law.
Appears in 2 contracts
Samples: Indenture Agreement (First Merchants Acceptance Corp), Indenture (First Merchants Acceptance Corp)
Compensation and Indemnity. The Issuer shall cause the Servicer to pay to the Indenture Trustee from time to time reasonable compensation for its servicesacceptance of this Indenture and services hereunder as the Issuer and the Trustee shall from time to time agree in writing. The Indenture Trustee’s 's compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuer shall cause the Servicer to reimburse the Indenture Trustee upon request for all reasonable out-of-pocket expenses incurred or made by it, including costs of collection, costs of preparing and reviewing reports, certificates and other documents, costs of preparation and mailing of notices to Securityholders and reasonable costs of counsel retained by the Trustee in connection with the delivery of an Opinion of Counsel or otherwise, in addition to the compensation for its services. Such expenses shall include but are not limited to the reasonable out-of-pocket compensation and expenses, disbursements and advances of the Indenture Trustee’s 's agents, counsel, accountants and experts. The Issuer shall cause the Servicer to indemnify the Indenture Trustee against any and all loss, liability liability, damages, claims or expense (including reasonable attorneys’ ' fees and expenses) incurred by it without negligence or willful misconduct on its part in connection with the administration of this trust and the performance of its duties hereunder hereunder, including the costs and expenses of enforcing this Indenture (including this Section 7.7) and of defending itself against any claims (whether asserted by any Securityholder, the Issuer or under the Sale and Servicing Agreement or under any other Basic Document or in connection with the Notesotherwise). The Indenture Trustee shall notify the Issuer and the Servicer promptly of any claim for which it may seek indemnity. Failure by the Indenture Trustee to so notify the Issuer and the Servicer shall not relieve the Issuer or the Servicer of its obligations hereunder. The Issuer shall, or shall cause defend the Servicer to, defend any such claim, claim and the Indenture Trustee may have separate counsel and the Issuer shall, or shall cause the Administrator to, pay the fees and expenses of such counsel. Neither counsel provided that the Issuer nor shall not be required to pay such fees and expenses if it assumes the Servicer Trustee's defense, and, in the reasonable judgment of outside counsel to the Trustee, there is no conflict of interest between the Issuer and the Trustee in connection with such defense. The Issuer need not reimburse any expense or indemnify against any loss, liability or expense incurred by the Indenture Trustee through the Indenture Trustee’s 's own willful misconduct, negligence misconduct or bad faithnegligence. Anything To secure the Issuer's payment obligations in this Agreement Section, the Trustee shall have a lien prior to the contrary notwithstanding, Securities on all money or property held or collected by the Trustee other than money or property held in no event shall the Indenture Trustee be liable for special, indirect or consequential loss or damage trust to pay principal of and interest on particular Securities. The Trustee's right to receive payment of any kind whatsoever (including but amounts due under this Section 7.7 shall not limited be subordinate to lost profits), even if the Indenture Trustee has been advised any other liability or Indebtedness of the likelihood of such loss or damage and regardless of the form of actionIssuer. The Issuer’s 's payment obligations to the Indenture Trustee pursuant to this Section shall survive the discharge of this Indenture or the earlier resignation or removal of the Indenture TrusteeIndenture. When the Indenture Trustee incurs expenses after the occurrence of a Default specified in Section 5.01(d6.1(9) or (e10) with respect to the Issuer, the expenses are intended to constitute expenses of administration under Title 11 of the United States Code or any other applicable federal or state bankruptcy, insolvency or similar lawBankruptcy Law.
Appears in 2 contracts
Samples: Indenture (Hanover Compressor Co /), Indenture (Hanover Compressor Co /)
Compensation and Indemnity. The Issuer shall cause the Servicer to pay to the Indenture Trustee from time to time reasonable compensation for its services. The Indenture Trustee’s compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuer shall cause the Servicer to reimburse the Indenture Trustee for all reasonable out-of-pocket expenses incurred or made by it, including costs of collection, in addition to the compensation for its services. Such expenses shall include but are not limited to the reasonable out-of-pocket compensation and expenses, disbursements and advances of the Indenture Trustee’s agents, counsel, accountants and experts. The Issuer shall cause the Servicer to indemnify the Indenture Trustee against any and all loss, liability or expense (including attorneys’ fees and expenses) incurred by it in connection with the administration of this trust and the performance of its duties hereunder or under the Sale and Servicing Agreement or under any other Basic Document or in connection with the Notes. The Indenture Trustee shall notify the Issuer and the Servicer promptly of any claim for which it may seek indemnity. Failure by the Indenture Trustee to so notify the Issuer and the Servicer shall not relieve the Issuer or the Servicer of its obligations hereunder. The Issuer shall, or shall cause the Servicer to, defend any such claim, and the Indenture Trustee may have separate counsel and the Issuer shall, or shall cause the Administrator to, pay the fees and expenses of such counsel. Neither the Issuer nor the Servicer need reimburse any expense or indemnify against any loss, liability or expense incurred by the Indenture Trustee through the Indenture Trustee’s own willful misconduct, negligence or bad faith. Anything in this Agreement to the contrary notwithstanding, in no event shall the Indenture Trustee be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Indenture Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. 42 (2024-A Indenture) The Issuer’s obligations to the Indenture Trustee pursuant to this Section shall survive the discharge of this Indenture or the earlier resignation or removal of the Indenture Trustee. When the Indenture Trustee incurs expenses after the occurrence of a Default specified in Section 5.01(d) or (e) with respect to the Issuer, the expenses are intended to constitute expenses of administration under Title 11 of the United States Code or any other applicable federal or state bankruptcy, insolvency or similar law.
Appears in 2 contracts
Samples: Indenture (Hyundai Auto Receivables Trust 2024-A), Indenture (Hyundai Auto Receivables Trust 2024-A)
Compensation and Indemnity. The Issuer Issuing Entity shall or shall cause the Servicer (pursuant to the Sale and Servicing Agreement) to pay to the Indenture Trustee from time to time reasonable compensation for its services. The Indenture Trustee’s compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuer Issuing Entity shall or shall cause the Servicer (pursuant to the Sale and Servicing Agreement) to reimburse the Indenture Trustee for all reasonable out-of-pocket expenses incurred or made by it, including pursuant to Section 6.08 and costs of collection, in addition to the compensation for its services. Such expenses shall include but are not limited to the reasonable out-of-pocket compensation and expenses, disbursements and advances of the Indenture Trustee’s agents, counsel, accountants and experts. The Issuer Issuing Entity shall or shall cause the Servicer (pursuant to the Sale and Servicing Agreement) to indemnify the Indenture Trustee against any and all loss, liability liability, claim, damage or expense (including attorneys’ the fees and expensesof either in-house counsel or outside counsel, but not both) incurred by it in connection with the administration of this trust and the performance of its duties hereunder or under the Sale and Servicing Agreement or under any other Basic Document or in connection with the Noteshereunder. The Indenture Trustee shall notify the Issuer Issuing Entity and the Servicer promptly of any claim for which it may seek indemnity. Failure by the Indenture Trustee to so notify the Issuer Issuing Entity and the Servicer shall not relieve the Issuer Issuing Entity or the Servicer of its obligations hereunder. The Issuer shall, Issuing Entity shall or shall cause the Servicer to, to defend any such claim, the claim and the Indenture Trustee may have separate counsel and the Issuer shall, Issuing Entity shall or shall cause the Administrator to, Servicer to pay the fees and expenses of such counsel. Neither the Issuer Issuing Entity nor the Servicer need reimburse any expense or indemnify against any loss, liability or expense incurred by the Indenture Trustee through the Indenture Trustee’s own willful wilful misconduct, negligence or bad faith. Anything in this Agreement to the contrary notwithstanding, in no event shall the Indenture Trustee be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Indenture Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. The IssuerIssuing Entity’s payment obligations to the Indenture Trustee pursuant to this Section shall survive the discharge of this Indenture or the earlier resignation or removal of the Indenture TrusteeIndenture. When the Indenture Trustee incurs expenses after the occurrence of a Default specified in Section 5.01(d5.01(iv) or (ev) with respect to the IssuerIssuing Entity, the expenses are intended to constitute expenses of administration under Title 11 of the United States Bankruptcy Code or any other applicable federal or state State bankruptcy, insolvency or similar law.
Appears in 2 contracts
Samples: Indenture (John Deere Owner Trust 2011), Indenture (John Deere Owner Trust 2008)
Compensation and Indemnity. The Issuer shall cause the Servicer to pay to the Indenture Trustee from time to time reasonable compensation for its services. The Indenture Trustee’s compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuer shall cause the Servicer to reimburse the Indenture Trustee for all reasonable out-of-pocket expenses incurred or made by it, including costs of collection, in addition to the compensation for its services. Such expenses shall include but are not limited to the reasonable out-of-pocket compensation and expenses, disbursements and advances of the Indenture Trustee’s agents, counsel, accountants and experts. The Issuer shall cause the Servicer to indemnify the Indenture Trustee against any and all loss, liability or expense (including attorneys’ fees and expenses) incurred by it in connection with the administration of this trust and the performance of its duties hereunder or under the Sale and Servicing Agreement or under any other Basic Document or in connection with the Notes. The Indenture Trustee shall notify the Issuer and the Servicer promptly of any claim for which it may seek indemnity. Failure by the Indenture Trustee to so notify the Issuer and the Servicer shall not relieve the Issuer or the Servicer of its obligations hereunder. The Issuer shall, or shall cause the Servicer to, defend any such claim, and the Indenture Trustee may have separate counsel and the Issuer shall, or shall cause the Administrator to, pay the fees and expenses of such counsel. Neither the Issuer nor the Servicer need reimburse any expense or indemnify against any loss, liability or expense incurred by the Indenture Trustee through the Indenture Trustee’s own willful misconduct, negligence or bad faith. Anything in this Agreement to the contrary notwithstanding, in no event shall the Indenture Trustee be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Indenture Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. The Issuer’s obligations to the Indenture Trustee pursuant to this Section shall survive the discharge of this Indenture or the earlier resignation or removal of the Indenture Trustee. When the Indenture Trustee incurs expenses after the occurrence of a Default specified in Section 5.01(d) or (e) with respect to the Issuer, the expenses are intended to constitute expenses of administration under Title 11 of the United States Code or any other applicable federal or state bankruptcy, insolvency or similar law.. 40 (2016-B Indenture)
Appears in 2 contracts
Samples: Indenture (Hyundai Auto Receivables Trust 2016-B), Indenture (Hyundai Abs Funding LLC)
Compensation and Indemnity. The Issuer shall cause the Servicer to pay to the Indenture Trustee from time to time reasonable compensation for its services. The Indenture Trustee’s compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuer shall cause the Servicer to reimburse the Indenture Trustee for all reasonable out-of-pocket expenses incurred or made by it, including costs of collection, in addition to the compensation for its services. Such expenses shall include but are not limited to the reasonable out-of-pocket compensation and expenses, disbursements and advances of the Indenture Trustee’s agents, counsel, accountants and experts. The Issuer shall cause the Servicer to indemnify the Indenture Trustee against any and all loss, liability or expense (including attorneys’ fees and expenses) incurred by it in connection with the administration of this trust and the performance of its duties hereunder or under the Sale and Servicing Agreement or under any other Basic Document or in connection with the Notes. The Indenture Trustee shall notify the Issuer and the Servicer promptly of any claim for which it may seek indemnity. Failure by the Indenture Trustee to so notify the Issuer and the Servicer shall not relieve the Issuer or the Servicer of its obligations hereunder. The Issuer shall, or shall cause the Servicer to, defend any such claim, and the Indenture Trustee may have separate counsel and the Issuer shall, or shall cause the Administrator to, pay the fees and expenses of such counsel. Neither the Issuer nor the Servicer need reimburse any expense or indemnify against any loss, liability or expense incurred by the Indenture Trustee through the Indenture Trustee’s own willful misconduct, negligence or bad faith. Anything in this Agreement to the contrary notwithstanding, in no event shall the Indenture Trustee be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Indenture Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. 41 (2018-A Indenture) The Issuer’s obligations to the Indenture Trustee pursuant to this Section shall survive the discharge of this Indenture or the earlier resignation or removal of the Indenture Trustee. When the Indenture Trustee incurs expenses after the occurrence of a Default specified in Section 5.01(d) or (e) with respect to the Issuer, the expenses are intended to constitute expenses of administration under Title 11 of the United States Code or any other applicable federal or state bankruptcy, insolvency or similar law.
Appears in 2 contracts
Samples: Indenture (Hyundai Abs Funding LLC), Indenture (Hyundai Auto Receivables Trust 2018-A)
Compensation and Indemnity. The Issuer shall pay or shall cause the Servicer to pay to the Indenture Trustee from time to time reasonable compensation for its services. The Indenture Trustee’s 's compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuer shall reimburse or shall cause the Servicer to reimburse the Indenture Trustee for all reasonable out-of-pocket expenses incurred or made by it, including costs of collection, in addition to the compensation for its services. Such expenses shall include but are not limited to the reasonable out-of-pocket compensation and expenses, disbursements and advances of the Indenture Trustee’s 's agents, counsel, accountants and experts. The Issuer Administrator shall indemnify or shall cause the Servicer to indemnify the Indenture Trustee against any and all loss, liability or expense (including reasonable attorneys’ fees and expenses' fees) incurred by it in connection with the administration of this trust and the performance of its duties hereunder or under the Sale and Servicing Agreement or under any other Basic Document or in connection with the Noteshereunder. The Indenture Trustee shall notify the Issuer Administrator and the Servicer promptly of any claim for which it may seek indemnity. Failure by the Indenture Trustee to so notify the Issuer Administrator and the Servicer shall not relieve the Issuer Administrator or the Servicer of its obligations hereunder. The Issuer shall, or shall cause the Servicer to, defend In case any such claim, and action is brought against the Indenture Trustee may have separate counsel under this Section 6.07 and the Issuer shall, or shall cause it notifies the Administrator toof the commencement thereof, pay the fees Administrator will assume the defense thereof, with counsel reasonably satisfactory to the Indenture Trustee (who may, unless there is, as evidenced by an opinion of counsel to the Indenture Trustee stating that there is an unwaivable conflict of interest, be counsel to the Administrator), and neither the Administrator nor the Servicer will be liable to the Indenture Trustee under this Section for any legal or other expenses subsequently incurred by the Indenture Trustee in connection with the defense thereof, other than reasonable costs of such counselinvestigation. Neither the Issuer Administrator nor the Servicer need reimburse any expense or indemnify against any loss, liability or expense incurred by the Indenture Trustee through the Indenture Trustee’s 's own willful misconduct, negligence or bad faith. Anything in this Agreement to the contrary notwithstanding, in no event shall the Indenture Trustee be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Indenture Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. The Issuer’s Administrator's payment obligations to the Indenture Trustee pursuant to this Section shall survive the discharge of this Indenture or the earlier resignation or removal of the Indenture TrusteeIndenture. When the Indenture Trustee incurs expenses after the occurrence of a Default specified in Section 5.01(d5.01(g) or (eh) or the Seller incurs expenses after the occurrence of an Insolvency Event with respect to the IssuerSeller, the expenses are intended to constitute expenses of administration under Title 11 of the United States Code or any other applicable federal or state bankruptcy, insolvency or similar law.
Appears in 2 contracts
Samples: Indenture (Toyota Motor Credit Receivables Corp), Indenture (Toyota Motor Credit Receivables Corp)
Compensation and Indemnity. The Issuer shall cause the Servicer Pursuant to pay to Section 8.05 hereof, the Indenture Trustee from time to time reasonable shall receive compensation on each Payment Date for its services, in its capacities as Indenture Trustee and Collateral Agent under the Basic Documents. The Indenture Trustee’s 's compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuer shall cause the Servicer Pursuant to reimburse Section 8.05 hereof, the Indenture Trustee shall also be entitled to receive reimbursement for all reasonable out-of-pocket expenses incurred or made by itit in its capacities as Indenture Trustee and Collateral Agent, including costs of collection, in addition to the compensation for its services. Such expenses shall include but are not limited to the reasonable out-of-pocket compensation and expenses, expenses and disbursements and advances of the Indenture Trustee’s 's agents, counsel, accountants and experts. The Issuer shall, and shall cause the Servicer to Administrator to, indemnify the Indenture Trustee and its officers, directors, employees, representatives and agents against any and all loss, liability or expense (including attorneys’ fees and expenses' fees) incurred by it in connection with the administration of this trust and the performance of its duties hereunder or under the Sale and Servicing Agreement or under any other Basic Document or in connection with the Noteshereunder. The Indenture Trustee shall notify the Issuer and the Servicer Administrator promptly of any claim for which it may seek indemnityindemnity but failure to do so shall not constitute a waiver of any rights hereunder. Failure by the Indenture Trustee to so notify the Issuer and the Servicer Administrator shall not relieve the Issuer or the Servicer Administrator of its obligations hereunder. The Issuer shall, or shall cause the Servicer Administrator to, defend any such claim, and the Indenture Trustee may have separate counsel and the Issuer shall, or shall cause the Administrator to, pay the reasonable fees and expenses of such counsel. Neither the Issuer nor the Servicer Administrator need reimburse any expense or indemnify against any loss, liability or expense incurred by the Indenture Trustee through the Indenture Trustee’s 's own willful misconduct, negligence or bad faith. Anything in this Agreement to the contrary notwithstanding, in no event shall the Indenture Trustee be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Indenture Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. The Issuer’s 's obligations to the Indenture Trustee pursuant to this Section shall survive the discharge of this Indenture or the earlier resignation or removal of the Indenture TrusteeTrustee and Collateral Agent and the discharge of this Indenture. When the Indenture Trustee incurs reasonable expenses after the occurrence of a an Event of Default specified in Section 5.01(dSections 5.01(a)(iv) or (ev) hereof with respect to the Issuer, the such expenses are intended to constitute expenses of administration under Title 11 of the United States Code or any other applicable federal or state State bankruptcy, insolvency or similar law. The Indenture Trustee shall have a lien prior to the Noteholders on the Pledged Assets for amounts due to it under this Section 6.07.
Appears in 2 contracts
Samples: Indenture (Bay View Deposit CORP), Indenture (Bay View Deposit CORP)
Compensation and Indemnity. The Issuer shall, or shall cause the Servicer to Administrator to, pay to the Indenture Trustee from time to time reasonable compensation for its services. The Indenture Trustee’s 's compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuer shall, or shall cause the Servicer to Administrator to, reimburse the Indenture Trustee for all reasonable out-of-pocket expenses incurred or made by it, including costs of collection, in addition to the compensation for its services. Such expenses shall include but are not limited to the reasonable out-of-pocket compensation and expenses, disbursements and advances of the Indenture Trustee’s 's agents, counsel, accountants and experts. The Issuer shall, or shall cause the Servicer to Administrator to, indemnify the Indenture Trustee against any and all loss, liability or expense (including attorneys’ fees and expenses' fees) incurred by it in connection with the administration of this trust and the performance of its duties hereunder or under the Sale and Servicing Agreement or under any other Basic Document or in connection with the Noteshereunder. The Indenture Trustee shall notify the Issuer and the Servicer Administrator promptly of any claim for which it may seek indemnity. Failure by the Indenture Trustee to so notify the Issuer and the Servicer Administrator shall not relieve the Issuer or the Servicer Administrator of its obligations hereunder. The Issuer shall, or shall cause the Servicer Administrator to, defend any such claim, and the Indenture Trustee may have separate counsel and the Issuer shall, or shall cause the Administrator to, pay the fees and expenses of such counsel. Neither the Issuer nor the Servicer Administrator need reimburse any expense or indemnify against any loss, liability or expense incurred by the Indenture Trustee through the Indenture Trustee’s 's own willful misconduct, negligence or bad faith. Anything in this Agreement to the contrary notwithstanding, in no event shall the Indenture Trustee be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Indenture Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. The Issuer’s 's payment obligations to the Indenture Trustee pursuant to this Section shall survive the discharge of this Indenture or the earlier resignation or removal of the Indenture Trustee; provided, however, that neither the Issuer nor the Administrator need reimburse any expense or indemnify against any loss, liability or expense incurred by the Trustee through the Trustee's own willful misconduct, negligence or bad faith. When the Indenture Trustee incurs expenses after the occurrence of a an Event of Default specified in Section 5.01(d5.01(iv) or (ev) with respect to the Issuer, the expenses are intended to constitute expenses of administration under Title 11 of the United States Code or any other applicable federal or state bankruptcy, insolvency or similar law.
Appears in 2 contracts
Samples: Indenture (WFS Receivables Corp 4), Indenture (WFS Receivables Corp 3)
Compensation and Indemnity. The Issuer shall (x) Xxx Xxxxxx xxxll cause the Servicer Administrator to pay to the Indenture Trustee from time to time reasonable compensation for its services. The Indenture Trustee’s 's compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuer shall cause the Servicer Administrator to reimburse the Indenture Trustee for all reasonable out-of-pocket expenses incurred or made by it, including costs of collection, in addition to the compensation for its services. Such expenses shall include but are not limited to the reasonable out-of-pocket compensation and expenses, disbursements and advances of the Indenture Trustee’s 's agents, counsel, accountants and experts. The Issuer shall cause the Servicer Administrator to indemnify the Indenture Trustee against Trustee, its directors, officers and agents for, and to hold it harmless against, any and all loss, liability or expense (including attorneys’ ' fees and expensesdisbursements) incurred by it in connection with the administration of this trust and the performance of its duties hereunder hereunder, including the costs and expenses of defending itself against any claim or under the Sale and Servicing Agreement or under any other Basic Document or liability in connection with the Notesexercise or performance of any of its powers or duties hereunder. The Indenture Trustee shall notify the Issuer and the Servicer Administrator promptly of any claim for which it may seek indemnity. Failure by the Indenture Trustee to so notify the Issuer and the Servicer Administrator shall not relieve the Issuer or the Servicer Administrator of its obligations hereunder. The Issuer shall, or shall cause the Servicer to, Administrator to defend any such claim, and the Indenture Trustee may have separate counsel and the Issuer shall, or shall cause the Administrator to, to pay the fees and expenses of such counsel. Neither the Issuer nor the Servicer Administrator need reimburse any expense or indemnify indemnity against any loss, liability or expense incurred by the Indenture Trustee through the Indenture Trustee’s 's own willful misconduct, negligence or bad faith. Anything in this Agreement to the contrary notwithstanding, in no event shall the Indenture Trustee be liable for special, indirect or consequential loss or damage of any kind whatsoever .
(including but not limited to lost profits), even if the Indenture Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. b) The Issuer’s 's payment obligations to the Indenture Trustee pursuant to this Section 6.7 shall survive the discharge of this Indenture or the earlier resignation or removal of the Indenture TrusteeTrustee and the discharge of this Indenture. When the Indenture Trustee incurs expenses after the occurrence of a Default specified in Section 5.01(d5.1(iv) or (ev) with respect to the Issuer, the expenses are intended to constitute expenses of administration under Title 11 of the United States Code or any other applicable federal or state State bankruptcy, insolvency or similar law.
Appears in 2 contracts
Samples: Indenture (Usaa Auto Owner Trust 2004-2), Indenture (Usaa Auto Owner Trust 2005-2)
Compensation and Indemnity. The Issuer shall cause the Servicer to pay to the Indenture Trustee from time shall be entitled to time reasonable $3,000 per annum and the investment earnings on amounts on deposit in the Note Distribution Account as compensation for its services. The Indenture Trustee’s compensation shall not be limited by any law on compensation of a trustee of an express trustservices hereunder. The Issuer shall cause the Servicer Administrator to reimburse the Indenture Trustee for all reasonable out-of-pocket expenses incurred or made by it, including costs of collection, in addition to the compensation for its services. Such expenses shall include but are not limited to the reasonable out-of-pocket compensation and expenses, disbursements and advances of the Indenture Trustee’s agents, counsel, accountants and experts. The Issuer shall cause the Servicer Administrator to indemnify the Indenture Trustee against for, and hold it harmless against, any and all loss, liability or expense (including attorneys’ fees and expenses) incurred by it in connection with the administration of this trust and the performance of its duties hereunder or under the Sale and Servicing Agreement or under any other Basic Document or in connection with the NotesDocument. The Indenture Trustee shall notify the Issuer and the Servicer Administrator promptly of any claim for which it may seek indemnity. Failure by the Indenture Trustee to so notify the Issuer and the Servicer Administrator shall not relieve the Issuer or the Servicer Administrator of its obligations hereunderhereunder if no prejudice to the Issuer or the Administrator shall have resulted from such failure. The Issuer shall, or shall cause the Servicer Administrator to, defend any such claim, and the Indenture Trustee may have separate counsel and the Issuer shall, or shall cause the Administrator to, pay the fees and expenses of such counsel. Neither the Issuer nor the Servicer Administrator need reimburse any expense or indemnify against any loss, liability or expense incurred by the Indenture Trustee through the Indenture Trustee’s own willful misconduct, negligence or bad faith. Anything in this Agreement to the contrary notwithstanding, in no event shall except that the Indenture Trustee shall not be liable (i) for specialany error of judgment made by it in good faith unless it is proved that the Indenture Trustee was negligent in ascertaining the pertinent facts, indirect (ii) with respect to any action it takes or consequential loss or damage omits to take in good faith in accordance with a direction received by it from the Noteholders in accordance with the terms of this Indenture and (iii) for interest on any money received by it except as the Indenture Trustee and the Issuer may agree in writing. The Indenture Trustee shall not be deemed to have knowledge of any kind whatsoever (including but not limited to lost profits), even if event unless a Responsible Officer of the Indenture Trustee has been advised of the likelihood of such loss actual knowledge thereof or damage and regardless of the form of actionhas received written notice thereof. The IssuerAdministrator’s payment obligations and indemnities to the Indenture Trustee pursuant to this Section shall survive the discharge of this Indenture or the earlier resignation or removal of the Indenture Trustee. When the Indenture Trustee incurs expenses after the occurrence of a Default specified in Section 5.01(d5.01(iv) or (ev) with respect to the Issuer, the expenses are intended to constitute expenses of administration under Title 11 of the United States Bankruptcy Code or any other applicable federal or state State bankruptcy, insolvency or similar law.
Appears in 2 contracts
Samples: Indenture (BMW Vehicle Owner Trust 2011-A), Indenture (BMW Vehicle Owner Trust 2011-A)
Compensation and Indemnity. The Issuer shall cause the Servicer to pay to the Indenture Trustee from time to time reasonable compensation for its services. The Indenture Trustee’s 's compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuer shall cause the Servicer to reimburse the Indenture Trustee for all reasonable out-of-pocket expenses incurred or made by it, including costs of collection, in addition to the compensation for its services. Such expenses shall include but are not limited to the reasonable out-of-pocket compensation and expenses, expenses and disbursements and advances of the Indenture Trustee’s 's agents, counsel, accountants and experts. The Issuer shall, or shall cause the Servicer to Administrator to, indemnify the Indenture Trustee against any and all loss, liability or expense (including attorneys’ fees and expenses' fees) incurred by it in connection with the administration of this trust and the performance of its duties hereunder or under the Sale and Servicing Agreement or under any other Basic Document or in connection with the Noteshereunder. The Indenture Trustee shall notify the Issuer and the Servicer Administrator promptly of any claim for which it may seek indemnity. Failure by the Indenture Trustee to so notify the Issuer and the Servicer Administrator shall not relieve the Issuer or the Servicer Administrator of its obligations hereunder. The Issuer shall, or shall cause the Servicer Administrator to, defend any such claim, and the Indenture Trustee may have separate counsel and the Issuer shall, or shall cause the Administrator to, pay the fees and expenses of such counsel. Neither the Issuer nor the Servicer Administrator need reimburse any expense or indemnify against any loss, liability or expense incurred by the Indenture Trustee through the Indenture Trustee’s 's own willful misconduct, negligence or bad faith. Anything in this Agreement to the contrary notwithstanding, in no event shall the Indenture Trustee be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Indenture Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. The Issuer’s 's obligations to the Indenture Trustee pursuant to this Section shall survive the discharge of this Indenture or the earlier resignation or removal of the Indenture TrusteeTrustee and the discharge of this Indenture. When the Indenture Trustee incurs expenses after the occurrence of a Default specified in Section 5.01(d5.01(a)(iv) or (ev) with respect to the Issuer, the expenses are intended to constitute expenses of administration under Title 11 of the United States Code or any other applicable federal or state bankruptcy, insolvency or similar law.
Appears in 2 contracts
Samples: Indenture (Bay View Transaction Corp), Indenture (Bay View Deposit CORP)
Compensation and Indemnity. The Issuer shall cause the Servicer to pay to the Indenture Trustee from time to time reasonable compensation for its services. The Indenture Trustee’s compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuer shall cause the Servicer to reimburse the Indenture Trustee for all reasonable out-of-pocket expenses incurred or made by it, including costs of collection, in addition to the compensation for its services. Such expenses shall include but are not limited to the reasonable out-of-pocket compensation and expenses, disbursements and advances of the Indenture Trustee’s agents, counsel, accountants and experts. The Issuer shall cause the Servicer to indemnify the Indenture Trustee against any and all loss, liability or expense (including attorneys’ fees and expenses) incurred by it in connection with the administration of this trust and the performance of its duties hereunder or under the Sale and Servicing Agreement or under any other Basic Document or in connection with the Notes. The Indenture Trustee shall notify the Issuer and the Servicer promptly of any claim for which it may seek indemnity. Failure by the Indenture Trustee to so notify the Issuer and the Servicer shall not relieve the Issuer or the Servicer of its obligations hereunder. The Issuer shall, or shall cause the Servicer to, defend any such claim, and the Indenture Trustee may have separate counsel and the Issuer shall, or shall cause the Administrator to, pay the fees and expenses of such counsel. Neither the Issuer nor the Servicer need reimburse any expense or indemnify against any loss, liability or expense incurred by the Indenture Trustee through the Indenture Trustee’s own willful misconduct, negligence or bad faith. Anything in this Agreement to the contrary notwithstanding, in no event shall the Indenture Trustee be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Indenture Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. 42 (2024-C Indenture) The Issuer’s obligations to the Indenture Trustee pursuant to this Section shall survive the discharge of this Indenture or the earlier resignation or removal of the Indenture Trustee. When the Indenture Trustee incurs expenses after the occurrence of a Default specified in Section 5.01(d) or (e) with respect to the Issuer, the expenses are intended to constitute expenses of administration under Title 11 of the United States Code or any other applicable federal or state bankruptcy, insolvency or similar law.
Appears in 2 contracts
Samples: Indenture (Hyundai Auto Receivables Trust 2024-C), Indenture (Hyundai Auto Receivables Trust 2024-C)
Compensation and Indemnity. The Issuer shall cause the Servicer to pay to the Indenture Trustee from time to time reasonable compensation for its services. The Indenture Trustee’s 's compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuer shall cause the Servicer Administrator to reimburse the Indenture Trustee for all reasonable out-of-pocket expenses incurred or made by it, including costs of collection, in addition to the compensation for its services. Such expenses shall include but are not limited to the reasonable out-of-pocket compensation and expenses, disbursements and advances of the Indenture Trustee’s 's agents, counsel, accountants and experts. The Issuer shall cause the Servicer Administrator to indemnify the Indenture Trustee against any and all loss, liability or expense (including attorneys’ ' fees and expenses) incurred by it in connection with the administration of this trust and the performance of its duties hereunder or under the Sale and Servicing Agreement or under any other Basic Document or in connection with the NotesDocument. The Indenture Trustee shall notify the Issuer and the Servicer Administrator promptly of any claim for which it may seek indemnity. Failure by the Indenture Trustee to so notify the Issuer and the Servicer Administrator shall not relieve the Issuer or the Servicer Administrator of its obligations hereunderhereunder if no prejudice to the Issuer or the Administrator shall have resulted from such failure. The Issuer shall, or shall cause the Servicer Administrator to, defend any such claim, and the Indenture Trustee may have separate counsel and the Issuer shall, or shall cause the Administrator to, pay the fees and expenses of such counsel. Neither the Issuer nor the Servicer Administrator need reimburse any expense or indemnify against any loss, liability or expense incurred by the Indenture Trustee through the Indenture Trustee’s 's own willful misconduct, negligence or bad faith. Anything in this Agreement The Issuer's payment obligations to the contrary notwithstanding, in no event shall the Indenture Trustee be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if and the Indenture Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. The Issuer’s obligations Administrator's indemnities to the Indenture Trustee pursuant to this Section shall survive the discharge of this Indenture or the earlier resignation or removal of the Indenture Trustee. When the Indenture Trustee incurs expenses after the occurrence of a Default specified in Section 5.01(d5.01(iv) or (ev) with respect to the Issuer, the expenses are intended to constitute expenses of administration under Title 11 of the United States Code or any other applicable federal or state bankruptcy, insolvency or similar law.
Appears in 2 contracts
Samples: Indenture (BMW Vehicle Owner Trust 2001-A), Indenture (BMW Vehicle Owner Trust 2001-A)
Compensation and Indemnity. The Issuer shall cause the Servicer to pay to the Indenture Trustee from time to time reasonable compensation for its services. The Indenture Trustee’s compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuer shall cause the Servicer to reimburse the Indenture Trustee for all reasonable out-of-pocket expenses incurred or made by it, including costs of collection, in addition to the compensation for its services. Such expenses shall include but are not limited to the reasonable out-of-pocket compensation and expenses, disbursements and advances of the Indenture Trustee’s agents, counsel, accountants and experts. The Issuer shall cause the Servicer to indemnify the Indenture Trustee against any and all loss, liability or expense (including attorneys’ fees and expenses) incurred by it in connection with the administration of this trust and the performance of its duties hereunder or under the Sale and Servicing Agreement or under any other Basic Document or in connection with the Notes. The Indenture Trustee shall notify the Issuer and the Servicer promptly of any claim for which it may seek indemnity. Failure by the Indenture Trustee to so notify the Issuer and the Servicer shall not relieve the Issuer or the Servicer of its obligations hereunder. The Issuer shall, or shall cause the Servicer to, defend any such claim, and the Indenture Trustee may have separate counsel and the Issuer shall, or shall cause the Administrator to, pay the fees and expenses of such counsel. Neither the Issuer nor the Servicer need reimburse any expense or indemnify against any loss, liability or expense incurred by the Indenture Trustee through the Indenture Trustee’s own willful misconduct, negligence or bad faith. Anything in this Agreement to the contrary notwithstanding, in no event shall the Indenture Trustee be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Indenture Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. The Issuer’s obligations to the Indenture Trustee pursuant to this Section shall survive the discharge of this Indenture or the earlier resignation or removal of the Indenture Trustee. When the Indenture Trustee incurs expenses after the occurrence of a Default specified in Section 5.01(d) or (e) with respect to the Issuer, the expenses are intended to constitute expenses of administration under Title 11 of the United States Code or any other applicable federal or state bankruptcy, insolvency or similar law.. 41 (2017-B Indenture)
Appears in 2 contracts
Samples: Indenture (Hyundai Auto Receivables Trust 2017-B), Indenture (Hyundai Auto Receivables Trust 2017-B)
Compensation and Indemnity. The Issuer shall cause the Servicer to pay to the Indenture Trustee from time to time reasonable compensation for its services. The Indenture Trustee’s compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuer shall cause the Servicer to reimburse the Indenture Trustee for all reasonable out-of-pocket expenses incurred or made by it, including costs of collection, in addition to the compensation for its services. Such expenses shall include but are not limited to the reasonable out-of-pocket compensation and expenses, disbursements and advances of the Indenture Trustee’s agents, counsel, accountants and experts. The Issuer shall cause the Servicer to indemnify the Indenture Trustee against any and all loss, liability or expense (including attorneys’ fees and expenses) incurred by it in connection with the administration of this trust and the performance of its duties hereunder or under the Sale and Servicing Agreement or under any other Basic Document or in connection with the Notes. The Indenture Trustee shall notify the Issuer and the Servicer promptly of any claim for which it may seek indemnity. Failure by the Indenture Trustee to so notify the Issuer and the Servicer shall not relieve the Issuer or the Servicer of its obligations hereunder. The Issuer shall, or shall cause the Servicer to, defend any such claim, and the Indenture Trustee may have separate counsel and the Issuer shall, or shall cause the Administrator to, pay the fees and expenses of such counsel. Neither the Issuer nor the Servicer need reimburse any expense or indemnify against any loss, liability or expense incurred by the Indenture Trustee through the Indenture Trustee’s own willful misconduct, negligence or bad faith. Anything in this Agreement to the contrary notwithstanding, in no event shall the Indenture Trustee be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Indenture Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. 42 (2023-C Indenture) The Issuer’s obligations to the Indenture Trustee pursuant to this Section shall survive the discharge of this Indenture or the earlier resignation or removal of the Indenture Trustee. When the Indenture Trustee incurs expenses after the occurrence of a Default specified in Section 5.01(d) or (e) with respect to the Issuer, the expenses are intended to constitute expenses of administration under Title 11 of the United States Code or any other applicable federal or state bankruptcy, insolvency or similar law.
Appears in 2 contracts
Samples: Indenture (Hyundai Auto Receivables Trust 2023-C), Indenture (Hyundai Auto Receivables Trust 2023-C)
Compensation and Indemnity. (a) The Indenture Trustee shall be paid the fees and any other amounts payable to it, agreed to in a separate written agreement between the Issuer shall cause the Servicer to pay to and the Indenture Trustee Trustee, as the same may be amended from time to time reasonable compensation for its servicestime, in accordance with Section 8.2(c). The Indenture Trustee’s 's compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuer shall cause the Servicer to reimburse the Indenture Trustee for all reasonable out-of-pocket expenses expenses, disbursements and advances incurred or made by itit in accordance with any of the provisions hereof and any other documents executed in connection herewith, including costs of collection, in addition to the compensation for its services. Such expenses shall include but are not limited to the reasonable out-of-pocket compensation and expenses, disbursements and advances of the Indenture Trustee’s 's agents, counsel, accountants and experts. The Issuer shall cause the Servicer Administrator to indemnify the Indenture Trustee against and its officers, directors, employees, representatives and agents for, and to hold them harmless against, any and all lossexpenses, liability obligations, liabilities, losses, damages, injuries (to person, property, or expense natural resources), penalties, stamp or other similar taxes, actions, suits, judgments, reasonable costs and expenses (including attorneys’ reasonable attorney's and agent's fees and expenses) of whatever kind of nature regardless of their merit, incurred by it in connection with the administration of this trust and the performance of its duties hereunder hereunder, including the costs and expenses of defending itself against any claim or under the Sale and Servicing Agreement or under any other Basic Document or liability in connection with the Notesexercise or performance of any of its powers or duties hereunder. The Indenture Trustee shall notify the Issuer and the Servicer Administrator promptly of any claim for which it may seek indemnity. Failure by the Indenture Trustee to so notify the Issuer and the Servicer Administrator shall not relieve the Issuer or the Servicer Administrator of its obligations hereunder. The Issuer shall, or shall cause the Servicer to, Administrator to defend any such claim, and the Indenture Trustee may have separate counsel and the Issuer shall, or shall cause the Administrator to, to pay the fees and expenses of such counsel. Neither the Issuer nor the Servicer Administrator need reimburse any expense or indemnify indemnity against any loss, liability or expense incurred by the Indenture Trustee through the Indenture Trustee’s 's own willful misconduct, negligence or bad faith. Anything in this Agreement All amounts payable to the contrary notwithstanding, in no event shall the Indenture Trustee under this Section (other than the indemnification payments from the Administrator) shall be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited paid to lost profits), even if the Indenture Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. in accordance with Section 8.2(c).
(b) The Issuer’s 's payment obligations to the Indenture Trustee pursuant to this Section 6.7 shall survive the discharge of this Indenture or the earlier resignation or removal of the Indenture TrusteeTrustee and the discharge of this Indenture. When the Indenture Trustee incurs expenses after the occurrence of a Default specified in Section 5.01(d5.1(iv) or (ev) with respect to the Issuer, the expenses are intended to constitute expenses of administration under Title 11 of the United States Code or any other applicable federal or state State bankruptcy, insolvency or similar law.
Appears in 2 contracts
Samples: Indenture (Bear Stearns Asset Backed Whole Auto Loan Trust 2004-1), Indenture (Bear Stearns Asset Backed Whole Auto Loan Trust 2003-1)
Compensation and Indemnity. The Issuer shall cause the Servicer to pay to the Indenture Trustee from time to time reasonable compensation for its services. The services hereunder as the Issuer and the Indenture Trustee’s Trustee may agree in writing (which compensation shall not be limited by any law on compensation of a trustee of an express trust). The Issuer shall cause the Servicer to reimburse the Indenture Trustee upon its request, for all reasonable out-of-pocket expenses incurred or made by it, including costs of collection, in addition to the compensation for its services. Such expenses shall include but are not limited to the reasonable out-of-pocket compensation and expenses, disbursements and advances of the Indenture Trustee’s 's agents, counsel, accountants and experts. The Issuer shall cause the Servicer to indemnify the Indenture Trustee and its officers, directors, employees and agents and hold them harmless against any and all loss, liability or expense (including attorneys’ ' fees and expensesdisbursements) incurred by it them in connection with the administration of this trust and the performance of its duties hereunder hereunder, including the costs and expenses of defending themselves against any claim or under the Sale and Servicing Agreement or under any other Basic Document or liability in connection with the Notesexercise or performance of their duties hereunder. The Indenture Trustee shall notify the Issuer and with a copy to the Servicer Servicer, promptly of any claim for which it may seek indemnity. Failure by the Indenture Trustee to so notify the Issuer and the Servicer shall not relieve the Issuer or the Servicer of its obligations hereunder. The Issuer shall, or shall cause defend the Servicer to, defend any such claim, claim and the Indenture Trustee may have separate counsel and the Issuer shall, or shall cause the Administrator Servicer to, pay the fees and expenses of such counsel. Neither the The Issuer nor the Servicer need not reimburse any expense or indemnify against any loss, liability or expense incurred by the Indenture Trustee through the Indenture Trustee’s 's own willful misconduct, negligence or bad faith. Anything in this Agreement to the contrary notwithstanding, in no event shall the Indenture Trustee be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Indenture Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. The Issuer’s 's payment obligations to the Indenture Trustee pursuant to this Section shall survive the discharge of this Indenture or the earlier resignation or removal of the Indenture TrusteeIndenture. When the Indenture Trustee incurs expenses after the occurrence of a Default specified in Section 5.01(d) or (e) with respect to the Issuer5.1(iv), the expenses are intended to constitute expenses of administration under Title 11 of the United States Code or any other applicable federal Federal or state State bankruptcy, insolvency or similar law. The Indenture Trustee agrees not to institute (alone or in conjunction with any other Person) against the Issuer any bankruptcy, reorganization, arrangement, insolvency, moratorium or liquidation proceedings or other proceedings under U.S. federal or State bankruptcy or similar laws on account of the non-payment to the Indenture Trustee of any amounts provided by this Section 6.7, until after the balance of each Note is reduced to zero and the expiration of a period equal to the longest applicable preference period under such bankruptcy laws and other applicable laws plus 366 days following such payment; provided, that nothing in this paragraph shall preclude, or be deemed to estop, the Indenture Trustee from taking any action prior to the expiration of the applicable preference period in any involuntary insolvency proceeding filed or commenced against the Issuer by a Person other than the Indenture Trustee or to otherwise limit any claims that the Indenture Trustee may have against the Issuer. The foregoing shall not limit the ability of the Indenture Trustee to take any action in accordance with Section 5.2.
Appears in 2 contracts
Samples: Indenture (Cef Equipment Holding LLC), Indenture (Cef Equipment Holding Ge Commerical Equip Fin Series 2004-1)
Compensation and Indemnity. The Issuer shall pay or shall cause the Administrator or Servicer to pay to the Indenture Trustee from time to time reasonable compensation for its services. The Indenture Trustee’s 's compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuer shall or shall cause the Administrator or Servicer to reimburse the Indenture Trustee for all reasonable out-of-pocket expenses incurred or made by it, including costs of collection, in addition to the compensation for its services. Such expenses shall include but are not limited to the reasonable out-of-pocket compensation and expenses, disbursements and advances of the Indenture Trustee’s 's agents, counsel, accountants and experts. The Issuer shall indemnify or shall cause the Administrator or Servicer to indemnify the Indenture Trustee against any and all loss, liability or expense (including attorneys’ fees and expenses' fees) incurred by it in connection with the administration of this trust and the performance of its duties hereunder or under the Sale and Servicing Agreement or under any other Basic Document or in connection with the Noteshereunder. The Indenture Trustee shall notify the Issuer and the Servicer Administrator promptly of any claim for which it may seek indemnity. Failure by the Indenture Trustee to so notify the Issuer and the Servicer Administrator shall not relieve the Issuer issuer or the Servicer Administrator of its obligations hereunder. The Issuer shall, shall defend or shall cause the Administrator or Servicer to, to defend any such claim, and the Indenture Trustee may have separate counsel and the Issuer shall, shall pay or shall cause the Administrator to, or Servicer to pay the fees and expenses of such counsel. Neither the Issuer nor the Administrator or Servicer need reimburse any expense or indemnify against any loss, liability or expense incurred by the Indenture Trustee through the Indenture Trustee’s 's own willful misconduct, negligence or bad faith. Anything in this Agreement to the contrary notwithstanding, in no event shall the Indenture Trustee be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Indenture Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. The Issuer’s 's payment obligations to the Indenture Trustee pursuant to this Section shall survive the discharge of this Indenture or the earlier resignation or removal of the Indenture TrusteeIndenture. When the Indenture Trustee incurs expenses after the occurrence of a Default specified in Section 5.01(d5.01(iv) or (ev) with respect to the Issuer, the expenses are intended to constitute expenses of administration under Title 11 of the United States Code or any other applicable federal or state bankruptcy, insolvency or similar law.
Appears in 2 contracts
Samples: Indenture (Heller Funding Corp), Indenture (Heller Funding Corp Ii)
Compensation and Indemnity. The Issuer shall cause the Servicer to pay to the Indenture Trustee from time to time reasonable compensation for its services. The Indenture Trustee’s 's compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuer shall cause the Servicer to reimburse the Indenture Trustee for all reasonable out-of-pocket expenses incurred or made by it, including costs of collection, in addition to the compensation for its services. Such expenses shall include but are not limited to the reasonable out-of-pocket compensation and expenses, disbursements and advances of the Indenture Trustee’s 's agents, counsel, accountants and experts. The Issuer Administrator shall indemnify or shall cause the Servicer to indemnify the Indenture Trustee against any and all loss, liability or expense (including reasonable attorneys’ fees and expenses' fees) incurred by it in connection with the administration of this trust and the performance of its duties hereunder or under the Sale and Servicing Agreement or under any other Basic Document or in connection with the Noteshereunder. The Indenture Trustee shall notify the Issuer Administrator and the Servicer promptly of any claim for which it may seek indemnity. Failure by the Indenture Trustee to so notify the Issuer Administrator and the Servicer shall not relieve the Issuer Administrator or the Servicer of its obligations hereunder. The Issuer shall, Administrator shall defend or shall cause the Servicer to, to defend any such claim, and the Indenture Trustee may have separate counsel and the Issuer shall, Administrator shall pay or shall cause the Administrator to, Servicer to pay the fees and expenses of such counsel. Neither the Issuer Administrator nor the Servicer need reimburse any expense or indemnify against any loss, liability or expense incurred by the Indenture Trustee through the Indenture Trustee’s 's own willful misconduct, negligence or bad faith. Anything in this Agreement to the contrary notwithstanding, in no event shall the Indenture Trustee be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Indenture Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. The Issuer’s Administrator's payment obligations to the Indenture Trustee pursuant to this Section shall survive the discharge of this Indenture or the earlier resignation or removal of the Indenture TrusteeIndenture. When the Indenture Trustee incurs expenses after the occurrence of a Default specified in Section 5.01(d5.01(f) or (eg) with respect to the Issuer, the expenses are intended to constitute expenses of administration under Title 11 of the United States Code or any other applicable federal or state bankruptcy, insolvency or similar law.
Appears in 2 contracts
Samples: Indenture (Nissan Auto Receivables 2002 B Owner Trust), Indenture (Nissan Auto Receivables 2002-a Owner Trust)
Compensation and Indemnity. The Issuer shall pay or shall cause the Servicer Administrator to pay to the Indenture Trustee from time to time reasonable compensation for its services. The Indenture Trustee’s compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuer shall or shall cause the Servicer Administrator to reimburse the Indenture Trustee for all reasonable out-of-pocket expenses incurred or made by it, including costs of collection, in addition to the compensation for its services. Such expenses shall include but are not limited to the reasonable out-of-pocket compensation and expenses, disbursements and advances of the Indenture Trustee’s agents, counsel, accountants and experts. The Issuer shall indemnify or shall cause the Servicer Administrator to indemnify the Indenture Trustee against any and all loss, claim, liability or expense (including attorneys’ fees and expensesfees) incurred by it in connection with the administration of this trust and the performance of its duties hereunder hereunder, including but not limited to any legal fees or under expenses incurred by the Sale and Servicing Agreement or under any other Basic Document or Indenture Trustee in connection with enforcement of the NotesIssuer’s indemnification or other obligations hereunder. The Indenture Trustee shall notify the Issuer and the Servicer Administrator promptly of any claim for which it may seek indemnity. Failure by the Indenture Trustee to so notify the Issuer and the Servicer Administrator shall not relieve the Issuer or the Servicer Administrator of its obligations hereunder. The Issuer shall, shall defend or shall cause the Servicer to, Administrator to defend any such claim, and the Indenture Trustee may have separate counsel and the Issuer shall, shall pay or shall cause the Administrator to, to pay the fees and expenses of such counsel. Neither the Issuer nor the Servicer Administrator need reimburse any expense or indemnify against any loss, liability or expense incurred by the Indenture Trustee through the Indenture Trustee’s own willful misconduct, negligence or bad faith. Anything in this Agreement to the contrary notwithstanding, in no event shall the Indenture Trustee be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Indenture Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. The Issuer’s payment obligations and indemnification to the Indenture Trustee pursuant to this Section shall survive the resignation or removal of the Indenture Trustee and the termination and discharge of this Indenture; provided that the Indenture or Trustee shall be entitled only to compensation for its services for the earlier period prior to the date of such resignation or removal of the Indenture Trustee. When the Indenture Trustee incurs expenses after the occurrence of a an Event of Default specified in Section 5.01(d5.01(iv) or (ev) with respect to the Issuer, the expenses are intended to constitute expenses of administration under Title 11 of the United States Code or any other applicable federal or state bankruptcy, insolvency or similar law.
Appears in 2 contracts
Samples: Indenture (Harley-Davidson Motorcycle Trust 2016-A), Indenture (Harley-Davidson Motorcycle Trust 2016-A)
Compensation and Indemnity. The (a) As payable in each Series Supplement, the Issuer shall, or shall cause the Master Servicer to to, pay to the Indenture Trustee from time to time reasonable the Indenture Trustee Fee as compensation for its services. The Indenture Trustee’s 's compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuer shall or shall cause the Master Servicer to reimburse the Indenture Trustee for all reasonable out-of-pocket expenses incurred or made by it, including costs of collection, in addition to the compensation for its services. Such expenses shall include but are not limited to the reasonable out-of-pocket compensation and expenses, disbursements and advances of the Indenture Trustee’s 's agents, outside counsel, accountants and experts. The Issuer shall or shall cause the Master Servicer to indemnify the Indenture Trustee Trustee, and its respective officers, directors, employees and agents against any and all loss, liability or expense (including attorneys’ ' fees and expenses) incurred by it each of them in connection with the acceptance or the administration of this trust and the performance of its duties hereunder or under the Sale and Servicing Agreement or under any other Basic Document or in connection with the Noteshereunder. The Indenture Trustee shall notify the Issuer and the Master Servicer promptly of any claim for which it may seek indemnity. Failure by the Indenture Trustee to so notify the Issuer and the Master Servicer shall not relieve the Issuer of its obligations hereunder or the Master Servicer of its obligations hereunderunder Article XII of the Master Sale and Servicing Agreement. The Issuer shall, shall defend or shall cause the Master Servicer to, to defend any such claimclaim for indemnity that may arise against the Indenture Trustee, and or the Indenture Trustee may have separate counsel and the Issuer shall, shall or shall cause the Administrator to, Master Servicer to pay the fees and expenses of such counsel. Neither the Issuer nor the Master Servicer need reimburse any expense or indemnify against any loss, liability or expense incurred by the Indenture Trustee through the Indenture Trustee’s such Person's own willful misconduct, negligence or bad faith. Anything in this Agreement to the contrary notwithstanding, in no event shall the Indenture Trustee be liable for special, indirect or consequential loss or damage of any kind whatsoever .
(including but not limited to lost profits), even if the Indenture Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. b) The Issuer’s 's payment obligations to the Indenture Trustee pursuant to this Section shall survive the discharge of this Indenture or the earlier resignation or removal of the Indenture TrusteeTrustee and the discharge of this Indenture. When the Indenture Trustee incurs expenses after the occurrence of a Default specified in Section 5.01(d) or (e) an Insolvency Event with respect to the Issuer, the expenses are intended to constitute expenses of administration under Title 11 of the United States Code or any other applicable federal Federal or state bankruptcy, insolvency or similar law. Notwithstanding anything else set forth in this Indenture, the Basic Documents, any Series Supplement or any Series Related Documents, the Indenture Trustee agrees that the obligations of the Issuer (but not the Master Servicer) to the Indenture Trustee hereunder and under any Series Supplement or any Series Related Documents, shall be recourse to the related Series Trust Estate only and specifically shall not be recourse to the assets of the Issuer or any Securityholder. In addition, the Indenture Trustee agrees that its recourse to the Issuer, the related Series Trust Estate, the Seller and amounts held pursuant to the related Series Support shall be limited to the right to receive the distributions as provided for in the payment priority provisions of the related Series Supplement.
Appears in 2 contracts
Samples: Indenture (Household Automotive Trust v Series 2000 2), Indenture (Household Automotive Trust Iv Series 2000-1)
Compensation and Indemnity. The Issuer shall pay or shall cause the Administrator or Servicer to pay to the Indenture Trustee from time to time reasonable compensation for its servicesservices as Indenture Trustee and as Paying Agent (if the Indenture Trustee serves as such) to the extent such compensation is not otherwise paid to the Indenture Trustee. The Indenture Trustee’s 's compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuer shall or shall cause the Administrator or the Servicer to reimburse the Indenture Trustee for all reasonable out-of-pocket expenses incurred or made by it, including costs of collection, in addition to the compensation for its services. Such expenses shall include but are not limited to the reasonable out-of-pocket compensation and expenses, disbursements and advances of the Indenture Trustee’s 's agents, counsel, accountants and experts. The Issuer shall indemnify or shall cause the Administrator or the Servicer to indemnify the Indenture Trustee against any and all loss, liability or expense (including attorneys’ ' fees and expenses) incurred by it in connection with the administration of this trust Indenture and the performance of its duties hereunder or hereunder, under the Sale Transfer and Servicing Agreement, the Administration Agreement, the Custodian Agreement or under and any other Basic Document document or in connection with transaction contemplated herewith or therewith or as a Paying Agent for the NotesIssuer. The Indenture Trustee shall notify the Issuer and the Servicer Administrator promptly of any claim for which it may seek indemnity. Failure by the Indenture Trustee to so notify the Issuer and the Servicer Administrator shall not relieve the Issuer or the Servicer Administrator of its obligations hereunder. The Issuer shall, shall defend or shall cause the Administrator or the Servicer to, to defend any such claim, and the Indenture Trustee may have separate counsel and the Issuer shall, shall pay or shall cause the Administrator to, or the Servicer to pay the fees and expenses of such counsel. Neither the Issuer nor the Administrator or the Servicer need reimburse any expense or indemnify against any loss, liability or expense incurred by the Indenture Trustee through the Indenture Trustee’s 's own willful misconduct, negligence or bad faith. Anything in this Agreement to the contrary notwithstanding, in no event shall the Indenture Trustee be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Indenture Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. The Issuer’s 's payment and indemnification obligations to the Indenture Trustee pursuant to this Section shall survive the discharge of this Indenture or and the earlier removal or resignation or removal of the Indenture Trustee. When the Indenture Trustee incurs expenses after the occurrence of a Default specified in Section 5.01(d), (e) or (ef) with respect to the Issuer, the expenses are intended to constitute expenses of administration under Title 11 of the United States Code or any other applicable federal or state bankruptcy, insolvency or similar lawInsolvency Law.
Appears in 2 contracts
Samples: Indenture (Orix Credit Alliance Receivables Trust 2000 B), Indenture (Orix Credit Alliance Receivables Trust 2000-A)
Compensation and Indemnity. The Issuer shall cause the Servicer to pay to the Indenture Trustee from time to time reasonable compensation for its services. The Indenture Trustee’s 's compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuer shall cause the Servicer to reimburse the Indenture Trustee for all reasonable out-of-pocket expenses incurred or made by it, including costs of collection, in addition to the compensation for its services. Such expenses shall include but are not limited to the reasonable out-of-pocket compensation and expenses, disbursements and advances of the Indenture Trustee’s 's agents, counsel, accountants and experts. The Issuer shall cause the Servicer to indemnify the Indenture Trustee against any and all loss, liability or expense (including attorneys’ ' fees and expenses) incurred by it in connection with the administration of this trust and the performance of its duties hereunder or under the Sale and Servicing Agreement or under any other Basic Document or in connection with the NotesDocument. The Indenture Trustee shall notify the Issuer and the Servicer promptly of any claim for which it may seek indemnity. Failure by the Indenture Trustee to so notify the Issuer and the Servicer shall not relieve the Issuer or the Servicer of its obligations hereunder. The Issuer shall, or shall cause the Servicer to, defend any such claim, and the Indenture Trustee may have separate counsel and the Issuer shall, or shall cause the Administrator to, pay the fees and expenses of such counsel. Neither the Issuer nor the Servicer need reimburse any expense or indemnify against any loss, liability or expense incurred by the Indenture Trustee through the Indenture Trustee’s 's own willful misconduct, negligence or bad faith. Anything in this Agreement to the contrary notwithstanding, in no event shall the Indenture Trustee be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Indenture Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. The Issuer’s 's payment obligations to the Indenture Trustee and the Administrator's indemnities to the Indenture Trustee pursuant to this Section shall survive the discharge of this Indenture or the earlier resignation or removal of the Indenture Trustee. When the Indenture Trustee incurs expenses after the occurrence of a Default specified in Section 5.01(d5.01(iv) or (ev) with respect to the Issuer, the expenses are intended to constitute expenses of administration under Title 11 of the United States Code or any other applicable federal or state bankruptcy, insolvency or similar law.
Appears in 2 contracts
Samples: Indenture (Hyundai Abs Funding Corp), Indenture (Hyundai Abs Funding Corp)
Compensation and Indemnity. (a) The Issuer shall, or shall cause the Servicer to Administrator to, pay to the Indenture Trustee from time to time reasonable compensation for its servicesservices pursuant to a fee agreement between the Administrator and the Indenture Trustee. The Indenture Trustee’s compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuer shall, or shall cause the Servicer to Administrator to, reimburse the Indenture Trustee for all reasonable out-of-pocket expenses expenses, disbursements and advances incurred or made by it, including costs of collection, in addition to the compensation for its services. Such expenses shall include but are not limited to the reasonable out-of-pocket compensation and expenses, disbursements and advances of the Indenture Trustee’s agents, counsel, accountants and experts. The Issuer shall, or shall cause the Servicer to Administrator to, indemnify and hold harmless the Indenture Trustee and its officers, directors, employees, representatives and agents against any and all loss, liability liability, tax (other than taxes based on the income of the Indenture Trustee) or expense (including attorneys’ fees and expensesfees) of whatever kind or nature regardless of their merit directly or indirectly incurred by it in connection with the administration or them without willful misconduct, negligence or bad faith on their part, arising out of this trust and the performance of its duties hereunder or under the Sale and Servicing Agreement or under any other Basic Document or in connection with the Notesacceptance or administration of the transactions contemplated by this Indenture, including the reasonable costs and expenses of defending themselves against any claim or liability in connection with the exercise or performance of any of their powers or duties under this Indenture or under any of the other Basic Documents. The Indenture Trustee shall notify the Issuer and the Servicer Administrator promptly of any claim for which it may seek indemnity. Failure by the Indenture Trustee to so notify the Issuer and the Servicer Administrator shall not relieve the Issuer or the Servicer Administrator of its obligations hereunder. The Issuer shall, or shall cause the Servicer Administrator to, defend any such claim, and the Indenture Trustee may have separate counsel and the Issuer shall, or shall cause the Administrator to, pay the fees and expenses of such counsel. Neither the Issuer nor the Servicer Administrator need reimburse any expense or indemnify against any loss, liability or expense incurred by the Indenture Trustee through the Indenture Trustee’s own willful misconduct, negligence or bad faith. Anything in this Agreement to the contrary notwithstanding, in no event shall the Indenture Trustee be liable for special, indirect or consequential loss or damage of any kind whatsoever .
(including but not limited to lost profits), even if the Indenture Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. b) The Issuer’s payment obligations to the Indenture Trustee pursuant to this Section shall survive the discharge of this Indenture or the earlier resignation or removal of the Indenture TrusteeIndenture. When the Indenture Trustee incurs expenses after the occurrence of a Default specified in Section 5.01(d) or (e5.01(iv) with respect to the Issuer, the expenses are intended to constitute expenses of administration under Title 11 of the United States Bankruptcy Code or any other applicable federal or state bankruptcy, insolvency or similar lawInsolvency Law.
Appears in 2 contracts
Samples: Indenture (Mercedes-Benz Auto Receivables Trust 2010-1), Indenture (Mercedes-Benz Auto Receivables Trust 2009-1)
Compensation and Indemnity. The Issuer shall cause the Servicer to pay to the Indenture Trustee from time to time reasonable compensation for its services. The Indenture Trustee’s compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuer shall cause the Servicer to reimburse the Indenture Trustee for all reasonable out-of-pocket expenses incurred or made by it, including costs of collection, in addition to the compensation for its services. Such expenses shall include but are not limited to the reasonable out-of-pocket compensation and expenses, disbursements and advances of the Indenture Trustee’s agents, counsel, accountants and experts. The Issuer shall cause the Servicer to indemnify the Indenture Trustee against any and all loss, liability or expense (including attorneys’ fees and expenses) incurred by it in connection with the administration of this trust and the performance of its duties hereunder or under the Sale and Servicing Agreement or under any other Basic Document or in connection with the Notes. The Indenture Trustee shall notify the Issuer and the Servicer promptly of any claim for which it may seek indemnity. Failure by the Indenture Trustee to so notify the Issuer and the Servicer shall not relieve the Issuer or the Servicer of its obligations hereunder. The Issuer shall, or shall cause the Servicer to, defend any such claim, and the Indenture Trustee may have separate counsel and the Issuer shall, or shall cause the Administrator to, pay the fees and expenses of such counsel. Neither the Issuer nor the Servicer need reimburse any expense or indemnify against any loss, liability or expense incurred by the Indenture Trustee through the Indenture Trustee’s own willful misconduct, negligence or bad faith. Anything in this Agreement to the contrary notwithstanding, in no event shall the Indenture Trustee be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Indenture Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. The Issuer’s obligations to the Indenture Trustee pursuant to this Section shall survive the discharge of this Indenture or the earlier resignation or removal of the Indenture Trustee. When the Indenture Trustee incurs expenses after the occurrence of a Default specified in Section 5.01(d) or (e) with respect to the Issuer, the expenses are intended to constitute expenses of administration under Title 11 of the United States Code or any other applicable federal or state bankruptcy, insolvency or similar law.
Appears in 2 contracts
Samples: Indenture (Hyundai Auto Receivables Trust 2012-C), Indenture (Hyundai Auto Receivables Trust 2012-B)
Compensation and Indemnity. The Issuer shall cause the Servicer to pay to the Indenture Trustee from time to time reasonable compensation for its services. The Indenture Trustee’s compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuer shall cause the Servicer to reimburse the Indenture Trustee for all reasonable out-of-pocket expenses incurred or made by it, including costs of collection, in addition to the compensation for its services. Such expenses shall include but are not limited to the reasonable out-of-pocket compensation and expenses, disbursements and advances of the Indenture Trustee’s agents, counsel, accountants and experts. The Issuer shall cause the Servicer to indemnify the Indenture Trustee against any and all loss, liability or expense (including attorneys’ fees and expenses) incurred by it in connection with the administration of this trust and the performance of its duties hereunder or under the Sale and Servicing Agreement or under any other Basic Document or in connection with the Notes. The Indenture Trustee shall notify the Issuer and the Servicer promptly of any claim for which it may seek indemnity. Failure by the Indenture Trustee to so notify the Issuer and the Servicer shall not relieve the Issuer or the Servicer of its obligations hereunder. The Issuer shall, or shall cause the Servicer to, defend any such claim, and the Indenture Trustee may have separate counsel and the Issuer shall, or shall cause the Administrator to, pay the fees and expenses of such counsel. Neither the Issuer nor the Servicer need reimburse any expense or indemnify against any loss, liability or expense incurred by the Indenture Trustee through the Indenture Trustee’s own willful misconduct, negligence or bad faith. Anything in this Agreement to the contrary notwithstanding, in no event shall the Indenture Trustee be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Indenture Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. 40 (2018-B Indenture) The Issuer’s obligations to the Indenture Trustee pursuant to this Section shall survive the discharge of this Indenture or the earlier resignation or removal of the Indenture Trustee. When the Indenture Trustee incurs expenses after the occurrence of a Default specified in Section 5.01(d) or (e) with respect to the Issuer, the expenses are intended to constitute expenses of administration under Title 11 of the United States Code or any other applicable federal or state bankruptcy, insolvency or similar law.
Appears in 2 contracts
Samples: Indenture (Hyundai Auto Receivables Trust 2018-B), Indenture (Hyundai Auto Receivables Trust 2018-B)
Compensation and Indemnity. The Issuer shall cause the Servicer to pay to the Indenture Trustee from time to time reasonable compensation for its services. The Indenture Trustee’s compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuer shall cause the Servicer to reimburse the Indenture Trustee for all reasonable out-of-pocket expenses incurred or made by it, including costs of collection, in addition to the compensation for its services. Such expenses shall include but are not limited to the reasonable out-of-pocket compensation and expenses, disbursements and advances of the Indenture Trustee’s agents, counsel, accountants and experts. The Issuer shall cause the Servicer to indemnify the Indenture Trustee against any and all loss, liability or expense (including attorneys’ fees and expenses) incurred by it in connection with the administration of this trust and the performance of its duties hereunder or under the Sale and Servicing Agreement or under any other Basic Document or in connection with the Notes. The Indenture Trustee shall notify the Issuer and the Servicer promptly of any claim for which it may seek indemnity. Failure by the Indenture Trustee to so notify the Issuer and the Servicer shall not relieve the Issuer or the Servicer of its obligations hereunder. The Issuer shall, or shall cause the Servicer to, defend any such claim, and the Indenture Trustee may have separate counsel and the Issuer shall, or shall cause the Administrator to, pay the fees and expenses of such counsel. Neither the Issuer nor the Servicer need reimburse any expense or indemnify against any loss, liability or expense incurred by the Indenture Trustee through the Indenture Trustee’s own willful misconduct, negligence or bad faith. Anything in this Agreement to the contrary notwithstanding, in no event shall the Indenture Trustee be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Indenture Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. The Issuer’s obligations to the Indenture Trustee pursuant to this Section shall survive the discharge of this Indenture or the earlier resignation or removal of the Indenture Trustee. When the Indenture Trustee incurs expenses after the occurrence of a Default specified in Section 5.01(d) or (e) with respect to the Issuer, the expenses are intended to constitute expenses of administration under Title 11 of the United States Code or any other applicable federal or state bankruptcy, insolvency or similar law.. 42 (2021-C Indenture)
Appears in 2 contracts
Samples: Indenture (Hyundai Auto Receivables Trust 2021-C), Indenture (Hyundai Auto Receivables Trust 2021-C)
Compensation and Indemnity. The Issuer shall pay or shall cause the Administrator or Servicer to pay to the Indenture Trustee from time to time reasonable compensation for its services. The Indenture Trustee’s 's compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuer shall or shall cause the Administrator or Servicer to reimburse the Indenture Trustee for all reasonable out-of-pocket expenses incurred or made by it, including costs of collection, in addition to the compensation for its services. Such expenses shall include but are not limited to the reasonable out-of-pocket compensation and expenses, disbursements and advances of the Indenture Trustee’s 's agents, counsel, accountants and experts. The Issuer shall indemnify or shall cause the Administrator or Servicer to indemnify the Indenture Trustee and its officers, directors, employees and agents against any and all loss, liability or expense (including attorneys’ fees and expenses' fees) incurred by it in connection with the administration of this trust and the performance of its duties hereunder or and under the Sale and Servicing Agreement or under any other Basic Document or in connection with the NotesTransaction Documents. The Indenture Trustee shall notify the Issuer Issuer, the Servicer and the Servicer Administrator promptly of any claim for which it may seek indemnity. Failure by the Indenture Trustee to so notify the Issuer Issuer, the Servicer and the Servicer Administrator shall not relieve the Issuer Issuer, the Administrator or the Servicer of its obligations hereunder. The Issuer shall, shall defend or shall cause the Administrator or Servicer to, to defend any such claim, and the Indenture Trustee may have separate counsel and the Issuer shall, shall pay or shall cause the Administrator to, or Servicer to pay the fees and expenses of such counsel. Neither the Issuer nor the Administrator or Servicer need reimburse any expense or indemnify against any loss, liability or expense incurred by the Indenture Trustee conclusively determined by a court of law of competent jurisdiction to have been incurred by the Indenture Trustee through the Indenture Trustee’s 's own willful misconduct, negligence or bad faith. The parties hereto agree and acknowledge that, notwithstanding anything to the contrary, all payments required to be made pursuant to this Section 6.07 shall not be made from the Trust Assets; provided, however, if an Event of Default has occurred, payments required to be made pursuant to this Section 6.07, to the extent unpaid, shall be paid in accordance with Section 5.06; provided, further, that any payments required to be made pursuant to this Section 6.07, if unpaid, shall not constitute a general recourse claim against the Issuer. Anything in this Agreement Indenture or any other Transaction Documents to the contrary notwithstanding, in no event shall the Indenture Trustee be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Indenture Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. The Issuer’s 's, Xxxxxxxx's and Administrator's payment obligations to the Indenture Trustee pursuant to this Section shall survive the discharge of this Indenture or the earlier resignation or and removal of the Indenture TrusteeTrustee and the discharge of this Indenture. When the Indenture Trustee incurs expenses after the occurrence of a Default specified in Section 5.01(d) or (e5.01(e) with respect to the Issuer, the expenses are intended to constitute expenses of administration under Title 11 of the United States Code or any other applicable federal or state bankruptcy, insolvency or similar law.
Appears in 2 contracts
Samples: Indenture (CIT Equipment Collateral 2005-Ef1), Indenture (CIT Equipment Collateral 2004-Ef1)
Compensation and Indemnity. The Issuer shall cause the Servicer to pay to As compensation for its services hereunder, the Indenture Trustee from time shall be entitled to time reasonable compensation for its services. The receive, on each Payment Date, the Indenture Trustee’s 's Fee pursuant to Section 8.02(c) hereof (which compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuer ) and shall cause be entitled to reimbursement by the Servicer to reimburse the Indenture Trustee for all reasonable out-of-pocket expenses incurred or made by it, including costs of collection, in addition to the compensation for its services. Such expenses shall include but are not limited to the reasonable out-of-pocket compensation and expenses, disbursements and advances of the Indenture Trustee’s 's agents, counsel, accountants and experts. The Issuer shall agrees to cause the Servicer Transferor to indemnify the Indenture Trustee against any and all loss, liability or expense (including attorneys’ ' fees and expenses) incurred by it in connection with the administration of this trust and the performance of its duties hereunder or under the Sale and Servicing Agreement or under any other Basic Document or in connection with the Noteshereunder. The Indenture Trustee shall notify the Issuer and the Servicer promptly of any claim for which it may seek indemnity. Failure by the Indenture Trustee so to so notify the Issuer and the Servicer shall not relieve the Issuer or the Servicer of its obligations hereunder. The Issuer shall, shall or shall cause the Servicer to, to defend any such claim, and the Indenture Trustee may have separate counsel reasonably acceptable to the Servicer and the Issuer shall, shall or shall cause the Administrator to, Servicer to pay the reasonable fees and expenses of such counsel. Neither the Issuer nor the Servicer need reimburse any expense or indemnify against any loss, liability or expense incurred by the Indenture Trustee through the Indenture Trustee’s 's own willful misconduct, negligence or bad faith. Anything in this Agreement to the contrary notwithstanding, in no event shall the Indenture Trustee be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Indenture Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. The Issuer’s 's payment obligations to the Indenture Trustee pursuant to this Section 6.07 shall survive the discharge of this Indenture or the earlier resignation or removal of the Indenture TrusteeIndenture. When the Indenture Trustee incurs expenses after the occurrence of a Default specified in Section 5.01(d5.01(a)(vi) or (evii) hereof with respect to the Issuer, the expenses are intended to constitute expenses of administration under Title 11 of the United States Code or any other applicable federal or state bankruptcy, insolvency or similar law.
Appears in 2 contracts
Samples: Indenture (Master Financial Asset Securitization Trust 1998-2), Indenture (Master Financial Asset Securitization Trust 1998-2)
Compensation and Indemnity. The Issuer shall cause the Servicer to pay to the Indenture Trustee from time to time reasonable compensation for its services. The Indenture Trustee’s compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuer shall cause the Servicer to reimburse the Indenture Trustee for all reasonable out-of-pocket expenses incurred or made by it, including costs of collection, in addition to the compensation for its services. Such expenses shall include but are not limited to the reasonable out-of-pocket compensation and expenses, disbursements and advances of the Indenture Trustee’s agents, counsel, accountants and experts. The Issuer shall cause the Servicer to indemnify the Indenture Trustee against any and all loss, liability or expense (including attorneys’ fees and expenses) incurred by it in connection with the administration of this trust and the performance of its duties hereunder or under the Sale and Servicing Agreement or under any other Basic Document or in connection with the Notes. The Indenture Trustee shall notify the Issuer and the Servicer promptly of any claim for which it may seek indemnity. Failure by the Indenture Trustee to so notify the Issuer and the Servicer shall not relieve the Issuer or the Servicer of its obligations hereunder. The Issuer shall, or shall cause the Servicer to, defend any such claim, and the Indenture Trustee may have separate counsel and the Issuer shall, or shall cause the Administrator to, pay the fees and expenses of such counsel. Neither the Issuer nor the Servicer need reimburse any expense or indemnify against any loss, liability or expense incurred by the Indenture Trustee through the Indenture Trustee’s own willful misconduct, negligence or bad faith. Anything in this Agreement to the contrary notwithstanding, in no event shall the Indenture Trustee be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Indenture Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. 42 (2024-B Indenture) The Issuer’s obligations to the Indenture Trustee pursuant to this Section shall survive the discharge of this Indenture or the earlier resignation or removal of the Indenture Trustee. When the Indenture Trustee incurs expenses after the occurrence of a Default specified in Section 5.01(d) or (e) with respect to the Issuer, the expenses are intended to constitute expenses of administration under Title 11 of the United States Code or any other applicable federal or state bankruptcy, insolvency or similar law.
Appears in 2 contracts
Samples: Indenture (Hyundai Auto Receivables Trust 2024-B), Indenture (Hyundai Auto Receivables Trust 2024-B)
Compensation and Indemnity. The (a) As payable in each Series Supplement, the Issuer shall, or shall cause the Master Servicer to to, pay to the Indenture Trustee from time to time reasonable the Trustee Fee as compensation for its services. The Indenture Trustee’s 's compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuer shall or shall cause the Master Servicer to reimburse the Indenture Trustee for all reasonable out-of-pocket expenses incurred or made by it, including costs of collection, in addition to the compensation for its services. Such expenses shall include but are not limited to the reasonable out-of-pocket compensation and expenses, disbursements and advances of the Indenture Trustee’s 's agents, outside counsel, accountants and experts. The Issuer shall or shall cause the Master Servicer to indemnify the Indenture Trustee Trustee, and its respective officers, directors, employees and agents against any and all loss, liability or expense (including attorneys’ ' fees and expenses) incurred by it each of them in connection with the acceptance or the administration of this trust and the performance of its duties hereunder or under the Sale and Servicing Agreement or under any other Basic Document or in connection with the Noteshereunder. The Indenture Trustee shall notify the Issuer and the Master Servicer promptly of any claim for which it may seek indemnity. Failure by the Indenture Trustee to so notify the Issuer and the Master Servicer shall not relieve the Issuer of its obligations hereunder or the Master Servicer of its obligations hereunderunder Article XII of the Master Sale and Servicing Agreement. The Issuer shall, shall defend or shall cause the Master Servicer to, to defend any such claimclaim for indemnity that may arise against the Trustee, and or the Indenture Trustee may have separate counsel and the Issuer shall, shall or shall cause the Administrator to, Master Servicer to pay the fees and expenses of such counsel. Neither the Issuer nor the Master Servicer need reimburse any expense or indemnify against any loss, liability or expense incurred by the Indenture Trustee through the Indenture Trustee’s such Person's own willful misconduct, negligence or bad faith. Anything in this Agreement to the contrary notwithstanding, in no event shall the Indenture Trustee be liable for special, indirect or consequential loss or damage of any kind whatsoever .
(including but not limited to lost profits), even if the Indenture Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. b) The Issuer’s 's payment obligations to the Indenture Trustee pursuant to this Section shall survive the discharge of this Indenture or the earlier resignation or removal of the Indenture TrusteeTrustee and the discharge of this Indenture. When the Indenture Trustee incurs expenses after the occurrence of a Default specified in Section 5.01(d) or (e) an Insolvency Event with respect to the Issuer, the expenses are intended to constitute expenses of administration under Title 11 of the United States Code or any other applicable federal Federal or state bankruptcy, insolvency or similar law. Notwithstanding anything else set forth in this Indenture, the Basic Documents, any Series Supplement or any Series Related Documents, the Trustee agrees that the obligations of the Issuer (but not the Master Servicer) to the Trustee hereunder and under any Series Supplement or any Series Related Documents, shall be recourse to the related Series Trust Estate only and specifically shall not be recourse to the assets of the Issuer or any Securityholder. In addition, the Trustee agrees that its recourse to the Issuer, the related Series Trust Estate, the Seller and amounts held pursuant to the related Series Support shall be limited to the right to receive the distributions as provided for in the payment priority provisions of the related Series Supplement.
Appears in 2 contracts
Samples: Indenture (Household Auto Receivables Corp), Indenture (Household Auto Receivables Corp)
Compensation and Indemnity. The Issuer shall cause the Servicer to pay to the Indenture Trustee from time to time reasonable compensation for its services. The Indenture Trustee’s compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuer shall cause the Servicer to reimburse the Indenture Trustee for all reasonable out-of-pocket expenses incurred or made by it, including costs of collection, in addition to the compensation for its services. Such expenses shall include but are not limited to the reasonable out-of-pocket compensation and expenses, disbursements and advances of the Indenture Trustee’s agents, counsel, accountants and experts. The Issuer shall cause the Servicer to indemnify the Indenture Trustee against any and all loss, liability or expense (including attorneys’ fees and expenses) incurred by it in connection with the administration of this trust and the performance of its duties hereunder or under the Sale and Servicing Agreement or under any other Basic Document or in connection with the Notes. The Indenture Trustee shall notify the Issuer and the Servicer promptly of any claim for which it may seek indemnity. Failure by the Indenture Trustee to so notify the Issuer and the Servicer shall not relieve the Issuer or the Servicer of its obligations hereunder. The Issuer shall, or shall cause the Servicer to, defend any such claim, and the Indenture Trustee may have separate counsel and the Issuer shall, or shall cause the Administrator to, pay the fees and expenses of such counsel. Neither the Issuer nor the Servicer need reimburse any expense or indemnify against any loss, liability or expense incurred by the Indenture Trustee through the Indenture Trustee’s own willful misconduct, negligence or bad faith. Anything in this Agreement to the contrary notwithstanding, in no event shall the Indenture Trustee be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Indenture Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. 42 (2023-A Indenture) The Issuer’s obligations to the Indenture Trustee pursuant to this Section shall survive the discharge of this Indenture or the earlier resignation or removal of the Indenture Trustee. When the Indenture Trustee incurs expenses after the occurrence of a Default specified in Section 5.01(d) or (e) with respect to the Issuer, the expenses are intended to constitute expenses of administration under Title 11 of the United States Code or any other applicable federal or state bankruptcy, insolvency or similar law.
Appears in 2 contracts
Samples: Indenture (Hyundai Auto Receivables Trust 2023-A), Indenture (Hyundai Auto Receivables Trust 2023-A)
Compensation and Indemnity. The Issuer shall cause the Servicer Depositor to pay to the Indenture Trustee from time to time and the Indenture Administrator reasonable compensation for its servicestheir respective services in accordance with a separate agreement between the Depositor, the Indenture Trustee and the Indenture Administrator and shall cause the Depositor to reimburse the Indenture Trustee and the Indenture Administrator for all reasonable out-of-pocket expenses incurred or made by it as provided in such separate agreement. The Indenture Trustee’s 's and the Indenture Administrator's compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuer (individually or in such capacities) shall cause the Servicer to reimburse the Indenture Trustee for all reasonable out-of-pocket expenses incurred or made by it, including costs of collection, in addition to the compensation for its services. Such expenses shall include but are not limited to the reasonable out-of-pocket compensation and expenses, disbursements and advances of the Indenture Trustee’s agents, counsel, accountants and experts. The Issuer shall cause the Servicer Administrator to indemnify the Indenture Trustee Trustee, the Indenture Administrator and their respective directors, officers, employees and agents against any and all loss, liability liability, claim or expense (including attorneys’ fees including, without limitation, costs and expensesexpenses of litigation and of investigation counsel fees, damages, judgments and amounts paid in settlement) incurred by it (individually or in such capacities) in connection with the administration of this trust and the performance of its duties hereunder or and under the Sale and Servicing Agreement or under any other Basic Document or in connection with the NotesDocuments. The Indenture Trustee and the Indenture Administrator (individually or in such capacities) shall notify the Issuer and the Servicer Administrator promptly of any claim for which it may seek indemnity. Failure by the Indenture Trustee or the Indenture Administrator, as the case may be, to so notify the Issuer and the Servicer Administrator shall not relieve the Issuer or the Servicer Administrator of its obligations hereunderhereunder and under the other Basic Documents. The Issuer shall, or shall cause the Servicer to, defend any such claim, Indenture Trustee and the Indenture Trustee may have Administrator shall be entitled to separate counsel and acceptable to them in their sole discretion the Issuer shall, or shall cause the Administrator to, pay the reasonable fees and expenses of such counselwhich shall be paid by the Administrator on behalf of the Issuer. Neither the Issuer nor the Servicer Administrator need reimburse any expense or indemnify against any loss, liability or expense incurred by the Indenture Trustee and the Indenture Administrator through the Indenture Trustee’s 's or the Indenture Administrator's, as the case may be, own willful misconduct, negligence or bad faith. Anything in this Agreement to the contrary notwithstanding, in no event shall the Indenture Trustee be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Indenture Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. The Issuer’s 's payment obligations to the Indenture Trustee and the Indenture Administrator (individually or in such capacities) pursuant to this Section shall survive the discharge of this Indenture or the earlier resignation or removal of the Indenture TrusteeIndenture. When the Indenture Trustee incurs and the Indenture Administrator incur expenses after the occurrence of a Default specified in Section 5.01(d5.1(iv) or (ev) with respect to the Issuer, the expenses are intended to constitute expenses of administration under Title 11 of the United States Code or any other applicable federal Federal or state bankruptcy, insolvency or similar law.
Appears in 2 contracts
Samples: Indenture (SLC Student Loan Trust 2005-2), Indenture (SLC Student Loan Receivables I Inc)
Compensation and Indemnity. The Issuer shall or shall cause the Servicer Administrator to pay to the Indenture Trustee from time to time reasonable compensation for its servicesservices as previously agreed to by the Administrator on behalf of the Issuer and the Indenture Trustee. The Indenture Trustee’s 's compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuer shall or shall cause the Servicer Administrator to reimburse the Indenture Trustee for all reasonable out-of-pocket expenses incurred or made by it, including costs of collection, in addition to the compensation for its services. Such expenses shall include but are not limited to the reasonable out-of-pocket compensation and expenses, disbursements and advances of the Indenture Trustee’s 's agents, outside counsel, accountants and experts. The Issuer shall or shall cause the Servicer Administrator to indemnify the Indenture Trustee against any and all loss, liability liability, damages or claims or expense (including attorneys’ fees and expenses' fees) incurred by it in connection with the administration of this trust and the performance of its duties hereunder or under the Sale and Servicing Agreement or under any other Basic Document or in connection with the Noteshereunder. The Indenture Trustee shall notify the Issuer and the Servicer Administrator promptly of any claim for which it may seek indemnity. Failure by the Indenture Trustee to so notify the Issuer and the Servicer Administrator shall not relieve the Issuer or the Servicer Administrator of its obligations hereunder. The Issuer shall, shall or shall cause the Servicer to, Administrator to defend any such claim, and the Indenture Trustee may have separate counsel and the Issuer shall, shall or shall cause the Administrator to, to pay the fees and expenses of such counsel. Neither the Issuer nor the Servicer Administrator need reimburse any expense or indemnify against any loss, liability or expense incurred by the Indenture Trustee through the Indenture Trustee’s 's own willful misconduct, negligence or bad faith. Anything in this Agreement to the contrary notwithstanding, in no event shall the Indenture Trustee be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Indenture Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. The Issuer’s 's payment obligations to the Indenture Trustee pursuant to this Section 6.07 shall survive the discharge of this Indenture or and the earlier resignation or removal of the Indenture Trustee. When the Indenture Trustee incurs expenses after the occurrence of a an Event of Default specified in Section 5.01(d) or (e) with respect to the Issuer, the expenses are intended to constitute expenses of administration under Title 11 of the United States Code or any other applicable federal or state bankruptcy, insolvency or similar law.
Appears in 2 contracts
Samples: Indenture (Household Consumer Loan Trust 1997-2), Indenture (Household Consumer Loan Trust 1997-2)
Compensation and Indemnity. (a) The Issuer shall cause the Servicer to pay to the Indenture Trustee from time to time reasonable such compensation for its servicesservices as shall be agreed in writing. The Indenture Trustee’s compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuer shall cause the Servicer to reimburse the Indenture Trustee for all reasonable and actual out-of-pocket expenses incurred or made by it, including costs of collection, in addition to the compensation for its services. Such expenses shall include but are not limited to the reasonable and actual out-of-pocket compensation and expenses, disbursements and advances of the Indenture Trustee’s agents, counsel, accountants and experts. The Issuer shall cause the Servicer to indemnify the Indenture Trustee against (including its officers, directors, employees and agents) for, and hold it harmless against, any and all loss, liability liability, damage, claim or expense (including any reasonable attorneys’ fees and expenses) directly or indirectly related to, arising out of or otherwise incurred by it in connection with the administration of the trusts created by this trust Indenture and the performance of its duties hereunder or as Indenture Trustee under the Sale and Servicing Agreement or under any other Basic Document or in connection with the NotesDocuments. The Indenture Trustee shall notify the Issuer and the Servicer promptly of any claim for which it may seek indemnity. To the extent these fees and indemnification amounts are not paid by the Servicer, they will be paid out of Available Funds as described in the Sale and Servicing Agreement. Failure by the Indenture Trustee to so notify the Issuer and the Servicer shall not relieve the Issuer or the Servicer of its obligations hereunderhereunder if no prejudice to the Issuer or the Servicer shall have resulted from such failure. The Issuer shall, or shall cause the Servicer to, defend any such claim, and the Indenture Trustee may have separate counsel and the Issuer shall, or shall cause the Administrator Servicer to, pay the fees and expenses of such counsel. Neither Notwithstanding the foregoing, neither the Issuer nor the Servicer need reimburse any expense or indemnify against any loss, liability or expense incurred by the Indenture Trustee through or arising from (i) the Indenture Trustee’s own willful misconduct, negligence or bad faith. Anything in this Agreement to faith (including such conduct of its officers, directors, employees or agents), (ii) the contrary notwithstanding, in no event shall the Indenture Trustee be liable for special, indirect or consequential loss or damage breach of any kind whatsoever (including but not limited to lost profits), even if the Indenture Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. The Issuer’s obligations to the Indenture Trustee pursuant to this Section shall survive the discharge of this Indenture or the earlier resignation or removal of the Indenture Trustee. ’s representations or warranties hereunder, (iii) the negligence or willful misconduct of the Indenture Trustee in connection with its performance of the duties of successor Servicer under the Sale and Servicing Agreement, or (iv) any taxes fees or other charges on, based on or measured by, any fees, commissions or compensation received by the Indenture Trustee.
(b) When the Indenture Trustee incurs expenses after the occurrence of a an Event of Default specified in Section 5.01(d) or (e) with respect to the Issuer, the such expenses are intended to constitute expenses of administration under Title 11 of the United States Code or any other applicable federal or state State bankruptcy, insolvency or similar law.
(c) The provisions of this Section 6.07 shall survive the termination of this Indenture or the resignation or removal of the Indenture Trustee.
Appears in 2 contracts
Samples: Indenture (California Republic Auto Receivables Trust 2015-2), Indenture (California Republic Funding LLC)
Compensation and Indemnity. The Issuer shall, or shall cause the Servicer to to, pay to the Indenture Trustee from time to time reasonable compensation for its servicesservices as agreed to between the Issuer and the Indenture Trustee in writing. The Indenture Trustee’s 's compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuer shall, or shall cause the Servicer to to, reimburse the Indenture Trustee for all reasonable out-of-pocket expenses incurred or made by it, including costs of collection, in addition to the compensation for its services. Such expenses shall include but are not limited to the reasonable out-of-pocket compensation and expenses, disbursements and advances of the Indenture Trustee’s 's agents, counsel, accountants and experts. The Issuer shall or shall cause the Servicer to indemnify the Indenture Trustee and its officers, directors, employees and agents against any and all loss, liability or expense (including attorneys’ ' fees and expenses) incurred by it them in connection with the administration of this trust and the performance of its duties hereunder or under the Sale and Servicing Agreement or under any other Basic Document or in connection with the Noteshereunder. The Indenture Trustee shall notify the Issuer and the Servicer promptly of any claim for which it may seek indemnity. Failure by the Indenture Trustee to so notify the Issuer and the Servicer shall not relieve the Issuer or the Servicer of its obligations hereunder. The Issuer shall, or shall cause the Servicer to, defend any such claim, the claim and the Indenture Trustee may have separate counsel and the Issuer shall, or shall cause the Administrator Servicer to, pay the fees and expenses of such counsel. Neither the Issuer nor the Servicer need reimburse any expense or indemnify against any loss, liability or expense incurred by the Indenture Trustee through the Indenture Trustee’s 's own willful misconduct, negligence or bad faith. Anything in this Agreement to the contrary notwithstanding, in no event shall the Indenture Trustee be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Indenture Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. The Issuer’s 's payment obligations to the Indenture Trustee pursuant to this Section shall survive the discharge of this Indenture or the earlier resignation or removal of the Indenture Trustee. When the Indenture Trustee incurs expenses after the occurrence of a Default specified in Section 5.01(d5.1(iv) or (e) with respect to the Issuerv), the expenses are intended to constitute expenses of administration under Title 11 of the United States Code or any other applicable federal Federal or state State bankruptcy, insolvency or similar law.
Appears in 2 contracts
Samples: Indenture (CNH Capital Receivables Inc), Indenture (CNH Capital Receivables Inc)
Compensation and Indemnity. The Issuer shall cause the Servicer to pay to As compensation for its services hereunder, the Indenture Trustee from time shall be entitled to time reasonable compensation for its services. The receive, on each Payment Date, the Indenture Trustee’s 's Fee pursuant to Section 5.01 of the Sale and Servicing Agreement (which 41 compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuer ) and shall cause the Servicer be entitled to reimburse the Indenture Trustee reimbursement for all reasonable out-of-pocket expenses incurred or made by it, including costs of collection, in addition to the compensation for its services. Such expenses shall include but are not limited to the reasonable out-of-pocket compensation and expenses, disbursements and advances of the Indenture Trustee’s 's agents, counsel, accountants and experts. The Issuer shall cause the Servicer to indemnify the Indenture Trustee shall be indemnified from the Trust Estate against any and all loss, liability or expense (including attorneys’ fees and expenses' fees) incurred by it in connection with the administration of this trust and the performance of its duties hereunder or under the Sale and Servicing Agreement or under any other Basic Document or in connection with the Noteshereunder. The Indenture Trustee shall notify the Issuer and the Servicer promptly of any claim for which it may seek indemnity. Failure by the Indenture Trustee to so notify the Issuer and the Servicer shall not relieve the Issuer or the Servicer of its obligations hereunder. The Issuer shall, or shall cause the Servicer to, defend any such claim, and the Indenture Trustee may have separate counsel and the Issuer shall, or shall cause the Administrator to, pay the fees and expenses of such counsel. Neither the Issuer nor the Servicer need reimburse The Indenture Trustee shall not be entitled to any such reimbursement of any expense or indemnify to indemnification against any loss, liability or expense incurred by the Indenture Trustee through the Indenture Trustee’s 's own willful misconduct, negligence or bad faith. Anything in this Agreement Indenture to the contrary notwithstanding, in no event shall the Indenture Trustee be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Indenture Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. This indemnity shall survive the termination of this Indenture. The Issuer’s 's payment obligations to the Indenture Trustee pursuant to this Section 6.7 shall survive the discharge of this Indenture or the earlier resignation or removal of the Indenture TrusteeIndenture. When the Indenture Trustee incurs expenses or provides services after the occurrence of a Default specified in Section 5.01(d5.1(e) or (ef) hereof with respect to the Issuer, the expenses and fees for such services are intended to constitute expenses of administration under Title 11 of the United States Code or any other applicable federal or state bankruptcy, insolvency or similar law.
Appears in 1 contract
Compensation and Indemnity. The Issuer shall pay or shall cause the Administrator or Servicer to pay to the Indenture Trustee from time to time reasonable compensation for its servicesservices as Indenture Trustee and as Paying Agent (if the Indenture Trustee serves as such) to the extent such compensation is not otherwise paid to the Indenture Trustee. The Indenture Trustee’s 's compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuer shall or shall cause the Administrator or the Servicer to reimburse the Indenture Trustee for all reasonable out-of-pocket expenses incurred or made by it, including costs of collection, in addition to the compensation for its services. Such expenses shall include but are not limited to the reasonable out-of-pocket compensation and expenses, disbursements and advances of the Indenture Trustee’s 's agents, counsel, accountants and experts. The Issuer shall indemnify or shall cause the Administrator or the Servicer to indemnify the Indenture Trustee against any and all loss, liability or expense (including attorneys’ ' fees and expenses) incurred by it in connection with the administration of this trust Indenture and the performance of its duties hereunder or under the Sale Transfer and Servicing Agreement, the Administration Agreement, the Custodian Agreement or under and any other Basic Document document or transaction contemplated in connection with herewith or therewith or as a Paying Agent for the NotesIssuer. The Indenture Trustee shall notify the Issuer and the Servicer Administrator promptly of any claim for which it may seek indemnity. Failure by the Indenture Trustee to so notify the Issuer and the Servicer Administrator shall not relieve the Issuer or the Servicer Administrator of its obligations hereunder. The Issuer shall, shall defend or shall cause the Administrator or the Servicer to, to defend any such claim, and the Indenture Trustee may have separate counsel and the Issuer shall, shall pay or shall cause the Administrator to, or the Servicer to pay the fees and expenses of such counsel. Neither the Issuer nor the Administrator or the Servicer need reimburse any expense or indemnify against any loss, liability or expense incurred by the Indenture Trustee through the Indenture Trustee’s 's own willful misconduct, negligence or bad faith. Anything in this Agreement to the contrary notwithstanding, in no event shall the Indenture Trustee be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Indenture Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. The Issuer’s obligations to the Indenture Trustee pursuant to this Section shall survive the discharge of this Indenture or the earlier resignation or removal of the Indenture Trustee. When the Indenture Trustee incurs expenses after the occurrence of a Default specified in Section 5.01(d) or (e) with respect to the Issuer, the expenses are intended to constitute expenses of administration under Title 11 of the United States Code or any other applicable federal or state bankruptcy, insolvency or similar law.
Appears in 1 contract
Samples: Indenture (Orix Credit Alliance Receivables Trust 1999-A)
Compensation and Indemnity. The Issuer shall cause the Servicer to pay to the Indenture Trustee for its own account from time to time reasonable such compensation together with any applicable value added tax, or similar tax chargeable in respect of such compensation other than any tax on its income, for its servicesservices as agreed in writing between the parties in the letter dated on or about the Issue Date (the "NOTE TRUSTEE FEE LETTER") from the Trustee to the Issuer, at the times and of the amounts specified in the Note Trustee Fee Letter and as otherwise due under the terms of this Indenture. The Indenture Trustee’s 's compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuer shall cause the Servicer to reimburse the Indenture Trustee upon request for all reasonable properly incurred out-of-pocket expenses incurred or made by it, including costs of collection, in addition to the compensation for its services. Such expenses shall include but are not limited to the reasonable out-of-pocket properly incurred compensation and expenses, disbursements and advances expenses of the Indenture Trustee’s agents, 's agents and counsel, accountants and experts. The Issuer shall cause the Servicer to indemnify the Indenture Trustee (which for the purposes of this Section 7.07 shall include its officers, directors, employees, agents, delegates, attorneys, co-trustee or additional but separate trustee) and any predecessor Trustee against any and all loss, liability or expense (damage and the reasonable costs or expenses including attorneys’ fees and expenses) any stamp, documentary or other similar Taxes or duties paid by the Trustee, incurred by it or its officers, directors, employees, agents, delegates, attorneys, co-trustee or additional but separate trustee in connection with the administration of this trust and the performance of its duties hereunder or under the Sale and Servicing Agreement or under any other Basic Document or in connection with the Noteshereunder. The Indenture Trustee shall notify the Issuer and the Servicer promptly of any claim for which it may seek indemnity. Failure by the Indenture Trustee to so notify the Issuer and the Servicer shall not relieve the Issuer or the Servicer of its obligations hereunder. The Issuer shall, or shall cause defend the Servicer to, defend any such claim, claim and the Indenture Trustee may have separate counsel and the Issuer shall, or shall cause the Administrator to, pay the fees and expenses of such counsel. Neither the The Issuer nor the Servicer need not reimburse any expense or indemnify against any loss, liability or expense incurred by the Indenture Trustee through the Indenture Trustee’s 's own willful misconduct, negligence or bad faith. Anything To secure the Issuer's payment obligations in this Agreement Section 7.07, the Trustee shall have a Lien prior to the contrary notwithstandingJunior Notes on all money or property held or collected by the Trustee other than money or property held in trust to pay principal of and interest on particular Junior Notes. The Issuer's payment obligations pursuant to this Section 7.07 and Sections 7.03 (Certain Rights and Discretions of Trustee) and 7.04 (Individual Rights of Trustee) shall survive the discharge of this Indenture or the resignation or removal of the Trustee. When the Trustee incurs expenses after the occurrence of a Default specified in either clause (8) or (9) of Section 6.01 (Events of Default) with respect to the Issuer, in the expenses are intended to constitute expenses of administration under Bankruptcy Law. In no event shall the Indenture Trustee be liable for any failure or delay in the performance of its obligations hereunder because of circumstances beyond its control, including but not limited to, acts of God, war (whether declared or undeclared), terrorism, fire, riot, embargo, government action, including any laws, ordinances, regulations, governmental action or the like which delay, restrict or prohibit the providing of the services contemplated by this Agreement. In no event shall the Trustee be liable for any indirect, special, indirect punitive or consequential loss or damage of any kind whatsoever (whatsoever, including but not limited to to, lost profits), even if the Indenture Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. The Issuer’s obligations to the Indenture Trustee pursuant to this Section shall survive the discharge of this Indenture or the earlier resignation or removal of the Indenture Trustee. When the Indenture Trustee incurs expenses after the occurrence of a Default specified in Section 5.01(d) or (e) with respect to the Issuer, the expenses are intended to constitute expenses of administration under Title 11 of the United States Code or any other applicable federal or state bankruptcy, insolvency or similar law.
Appears in 1 contract
Samples: Indenture (Marconi Corp PLC)
Compensation and Indemnity. The Issuer shall pay or shall cause the Administrator or Servicer to pay to the Indenture Trustee from time to time reasonable compensation for its services. The Indenture Trustee’s 's compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuer shall or shall cause the Administrator or Servicer to reimburse the Indenture Trustee for all reasonable out-of-pocket expenses incurred or made by it, including costs of collection, in addition to the compensation for its services. Such expenses shall include but are not limited to the reasonable out-of-pocket compensation and expenses, disbursements and advances of the Indenture Trustee’s 's agents, counsel, accountants and experts. The Issuer shall indemnify or shall cause the Administrator or Servicer to indemnify the Indenture Trustee and its officers, directors, employees and agents against any and all loss, liability or expense (including attorneys’ fees and expenses' fees) incurred by it in connection with the administration of this trust and the performance of its duties hereunder or and under the Sale and Servicing Agreement or under any other Basic Document or in connection with the NotesTransaction Documents. The Indenture Trustee shall notify the Issuer Issuer, the Servicer and the Servicer Administrator promptly of any claim for which it may seek indemnity. Failure by the Indenture Trustee to so notify the Issuer Issuer, the Servicer and the Servicer Administrator shall not relieve the Issuer or the Servicer Administrator of its obligations hereunder. The Issuer shall, shall defend or shall cause the Administrator or Servicer to, to defend any such claim, and the Indenture Trustee may have separate counsel and the Issuer shall, shall pay or shall cause the Administrator to, or Servicer to pay the fees and expenses of such counsel. Neither the Issuer nor the Administrator or Servicer need reimburse any expense or indemnify against any loss, liability or expense incurred by the Indenture Trustee through the Indenture Trustee’s 's own willful misconduct, negligence or bad faith. The parties hereto agree and acknowledge that, notwithstanding anything to the contrary, all payments required to be made pursuant to this Section 6.07 shall not be made from the Trust Assets; provided, however, if an Event of Default has occurred, payments required to be made pursuant to this Section 6.07, to the extent unpaid, shall be paid in accordance with Section 5.06; provided, further, that any payments required to be made pursuant to this Section 6.07, if unpaid, shall not constitute a general recourse claim against the Issuer. Anything in this Agreement Indenture or any other Transaction Documents to the contrary notwithstanding, in no event shall the Indenture Trustee be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Indenture Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. The Issuer’s 's, Xxxxxxxx's and Administrator's payment obligations to the Indenture Trustee pursuant to this Section shall survive the discharge of this Indenture or the earlier resignation or and removal of the Indenture TrusteeTrustee and the discharge of this Indenture. When the Indenture Trustee incurs expenses after the occurrence of a Default specified in Section 5.01(d) or (e5.01(e) with respect to the Issuer, the expenses are intended to constitute expenses of administration under Title 11 of the United States Code or any other applicable federal or state bankruptcy, insolvency or similar law.
Appears in 1 contract
Compensation and Indemnity. The Issuer shall cause the Servicer Administrator to pay to the Indenture Trustee from time to time reasonable compensation for its services. The Indenture Trustee’s compensation shall not be limited by any law on compensation of a trustee of an express trustservices hereunder. The Issuer shall cause the Servicer Administrator to reimburse the Indenture Trustee for all reasonable out-of-pocket expenses incurred or made by it, including costs of collection, in addition to the compensation for its services. Such expenses shall include but are not limited to the reasonable out-of-pocket compensation and expenses, disbursements and advances of the Indenture Trustee’s agents, counsel, accountants and experts. The Issuer shall cause the Servicer Administrator to indemnify the Indenture Trustee against for, and hold it harmless against, any and all loss, liability or expense (including attorneys’ fees and expenses) incurred by it in connection with the administration of this trust and the performance of its duties hereunder or under the Sale and Servicing Agreement or under any other Basic Document or in connection with the NotesDocument. The Indenture Trustee shall notify the Issuer and the Servicer Administrator promptly of any claim for which it may seek indemnity. Failure by the Indenture Trustee to so notify the Issuer and the Servicer Administrator shall not relieve the Issuer or the Servicer Administrator of its obligations hereunderhereunder if no prejudice to the Issuer or the Administrator shall have resulted from such failure. The Issuer shall, or shall cause the Servicer Administrator to, defend any such claim, and the Indenture Trustee may have separate counsel and the Issuer shall, or shall cause the Administrator to, pay the fees and expenses of such counsel. Neither the Issuer nor the Servicer Administrator need reimburse any expense or indemnify against any loss, liability or expense incurred by the Indenture Trustee through the Indenture Trustee’s own willful misconduct, negligence or bad faith. Anything in this Agreement to the contrary notwithstanding, in no event shall except that the Indenture Trustee shall not be liable (i) for specialany error of judgment made by it in good faith unless it is proved that the Indenture Trustee was negligent in ascertaining the pertinent facts, indirect (ii) with respect to any action it takes or consequential loss or damage omits to take in good faith in accordance with a direction received by it from the Noteholders in accordance with the terms of this Indenture and (iii) for interest on any money received by it except as the Indenture Trustee and the Issuer may agree in writing. The Indenture Trustee shall not be deemed to have knowledge of any kind whatsoever (including but not limited to lost profits), even if event unless a Responsible Officer of the Indenture Trustee has been advised of the likelihood of such loss actual knowledge thereof or damage and regardless of the form of actionhas received written notice thereof. The IssuerAdministrator’s payment obligations and indemnities to the Indenture Trustee pursuant to this Section shall survive the discharge of this Indenture or the earlier resignation or removal of the Indenture Trustee. When the Indenture Trustee incurs expenses after the occurrence of a Default specified in Section 5.01(d5.01(iv) or (ev) with respect to the Issuer, the expenses are intended to constitute expenses of administration under Title 11 of the United States Bankruptcy Code or any other applicable federal or state State bankruptcy, insolvency or similar law.
Appears in 1 contract
Samples: Indenture (BMW Fs Securities LLC)
Compensation and Indemnity. The Issuer shall pay or shall cause the Administrator or Servicer pursuant to the Pooling Agreement to pay to the Indenture Trustee from time to time reasonable compensation for its services. The Indenture Trustee’s compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuer shall or shall cause the Administrator or Servicer to reimburse the Indenture Trustee for all reasonable out-of-pocket expenses incurred or made by it, including costs of collection, in addition to the compensation for its services. Such expenses shall include but are not limited to the reasonable out-of-pocket compensation and expenses, disbursements and advances of the Indenture Trustee’s agents, counsel, accountants and experts. The Issuer shall indemnify or shall cause the Administrator or Servicer pursuant to the Pooling Agreement to indemnify the Indenture Trustee and its officers, directors, employees and agents against any and all loss, liability or expense (including attorneys’ fees and expenses) incurred by it in connection with the administration of this trust and the performance of its duties hereunder or and under the Sale and Servicing Agreement or under any other Basic Document or in connection with the NotesTransaction Documents. The Indenture Trustee shall notify the Issuer Issuer, the Servicer and the Servicer Administrator promptly of any claim of which a Responsible Officer has received notice for which it may seek indemnity. Failure by the Indenture Trustee to so notify the Issuer Issuer, the Servicer and the Servicer Administrator shall not relieve the Issuer Issuer, the Administrator or the Servicer of its obligations hereunder. The Issuer shall, shall defend or shall cause the Administrator or Servicer to, to defend any such claim, and the Indenture Trustee may have separate counsel and the Issuer shall, shall pay or shall cause the Administrator to, or Servicer to pay the reasonable fees and expenses of such counsel. Neither the Issuer nor the Administrator or Servicer need reimburse any expense or indemnify against any loss, liability or expense incurred by the Indenture Trustee conclusively determined by a court of law of competent jurisdiction to have been incurred by the Indenture Trustee through the Indenture Trustee’s own willful misconduct, negligence or bad faith. The parties hereto agree and acknowledge that, notwithstanding anything to the contrary, all payments required to be made pursuant to this Section 6.07 shall not be made from the Trust Assets; provided, however, if an Event of Default has occurred and is continuing, payments required to be made pursuant to this Section 6.07, to the extent unpaid, shall be paid in accordance with Section 5.06; provided, further, that any payments required to be made pursuant to this Section 6.07, if unpaid, shall not constitute a general recourse claim against the Issuer. Anything in this Agreement Indenture or any other Transaction Documents to the contrary notwithstanding, in no event shall the Indenture Trustee be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Indenture Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. The Issuer’s, Servicer’s and Administrator’s payment obligations to the Indenture Trustee pursuant to this Section shall survive the discharge of this Indenture or the earlier resignation or and removal of the Indenture TrusteeTrustee and the discharge of this Indenture. When the Indenture Trustee incurs expenses after the occurrence of a an Event of Default specified in Section 5.01(d) or (e5.01(e) with respect to the Issuer, the expenses are intended to constitute expenses of administration under Title 11 of the United States Code or any other applicable federal or state bankruptcy, insolvency or similar law.
Appears in 1 contract
Samples: Indenture (Cit Funding Co, LLC)
Compensation and Indemnity. The (a) As payable in the Series Supplement, the Issuer shall, or shall cause the Master Servicer to to, pay to the Indenture Trustee from time to time reasonable the Indenture Trustee Fee as compensation for its services. The Indenture Trustee’s 's compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuer shall or shall cause the Master Servicer to reimburse the Indenture Trustee for all reasonable out-of-pocket expenses incurred or made by it, including costs of collection, in addition to the compensation for its services. Such expenses shall include but are not limited to the reasonable out-of-pocket compensation and expenses, disbursements and advances of the Indenture Trustee’s 's agents, outside counsel, accountants and experts. The Issuer shall or shall cause the Master Servicer to indemnify the Indenture Trustee Trustee, and its respective officers, directors, employees and agents against any and all loss, liability or expense (including attorneys’ ' fees and expenses) incurred by it each of them in connection with the acceptance or the administration of this trust and the performance of its duties hereunder or under the Sale and Servicing Agreement or under any other Basic Document or in connection with the Noteshereunder. The Indenture Trustee shall notify the Issuer and the Master Servicer promptly of any claim for which it may seek indemnity. Failure by the Indenture Trustee to so notify the Issuer and the Master Servicer shall not relieve the Issuer of its obligations hereunder or the Master Servicer of its obligations hereunderunder Article XII of the Master Sale and Servicing Agreement. The Issuer shall, shall defend or shall cause the Master Servicer to, to defend any such claimclaim for indemnity that may arise against the Indenture Trustee, and or the Indenture Trustee may have separate counsel and the Issuer shall, shall or shall cause the Administrator to, Master Servicer to pay the fees and expenses of such counsel. Neither the Issuer nor the Master Servicer need reimburse any expense or indemnify against any loss, liability or expense incurred by the Indenture Trustee through the Indenture Trustee’s such Person's own willful misconduct, negligence or bad faith. Anything in this Agreement to the contrary notwithstanding, in no event shall the Indenture Trustee be liable for special, indirect or consequential loss or damage of any kind whatsoever .
(including but not limited to lost profits), even if the Indenture Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. b) The Issuer’s 's payment obligations to the Indenture Trustee pursuant to this Section shall survive the discharge of this Indenture or the earlier resignation or removal of the Indenture TrusteeTrustee and the discharge of this Indenture. When the Indenture Trustee incurs expenses after the occurrence of a Default specified in Section 5.01(d) or (e) an Insolvency Event with respect to the Issuer, the expenses are intended to constitute expenses of administration under Title 11 of the United States Code or any other applicable federal Federal or state bankruptcy, insolvency or similar law. Notwithstanding anything else set forth in this Indenture, the Basic Documents, the Series Supplement or any Related Documents, the Indenture Trustee agrees that the obligations of the Issuer (but not the Master Servicer) to the Indenture Trustee hereunder and under the Series Supplement or any Related Documents, shall be recourse to the Series Trust Estate only and specifically shall not be recourse to the assets of the Issuer or any Securityholder. In addition, the Indenture Trustee agrees that its recourse to the Issuer, the Series Trust Estate, the Seller and amounts held pursuant to the Series Support shall be limited to the right to receive the distributions as provided for in the payment priority provisions of the Series Supplement.
Appears in 1 contract
Compensation and Indemnity. The Issuer shall In payment for services rendered and to be rendered hereunder by IB, the Company will either itself pay, or cause the Servicer Underwriters to pay to pay, IB at the Indenture Trustee from time to time reasonable compensation for its services. The Indenture Trustee’s compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuer shall cause the Servicer to reimburse the Indenture Trustee for all reasonable out-of-pocket expenses incurred or made by it, including costs of collection, in addition to the compensation for its services. Such expenses shall include but are not limited to the reasonable out-of-pocket compensation and expenses, disbursements and advances closing of the Indenture TrusteeTransaction, whether or not the offering is underwritten, a fee equal to 1% of the gross sales price of the Securities sold at that closing, without deduction or offset of any kind, for expenses or otherwise, regardless of whether or not IB located the underwriters or the purchasers. In addition, the Company will reimburse (or pay) IB’s agents, counsel, accountants reasonable expenses of travel and experts. The Issuer shall cause the Servicer to indemnify the Indenture Trustee against any and all loss, liability or expense (including attorneys’ fees and expenses) incurred by it lodging in connection with this engagement, where such travel is approved by the administration of this trust Company in advance. XX may resign at any time and the performance Company may terminate IB’s services for cause at any time, each by giving prior written notice to the other. If this Agreement expires because the Company terminates IB’s services for any reason, and subsequently, within one year of its duties the date of such termination, the Transaction (in the same or similar form) closes, IB shall be entitled to receive at such closing the full compensation provided for in this Section 5. If IB’s services hereunder or under the Sale and Servicing Agreement or under any other Basic Document or in connection with the Notes. The Indenture Trustee shall notify the Issuer and the Servicer promptly of any claim for which it may seek indemnity. Failure are terminated by the Indenture Trustee to so notify the Issuer and the Servicer shall not relieve the Issuer or the Servicer of its obligations hereunder. The Issuer shallCompany, or shall cause the Servicer to, defend any such claimthis Agreement expires, and the Indenture Trustee may have separate counsel and Company completes a transaction similar to the Issuer shallTransaction contemplated herein within one year of such termination or expiration, or then the Company shall cause pay to IB concurrently with the Administrator to, pay closing of such transaction the fees and expenses of such counsel. Neither the Issuer nor the Servicer need reimburse any expense or indemnify against any loss, liability or expense incurred by the Indenture Trustee through the Indenture Trustee’s own willful misconduct, negligence or bad faith. Anything outlined in this Agreement Section 5. In addition, the Company has engaged IB to arrange financing in amounts and types to be determined, to be taken down prior to the contrary notwithstanding, in no event shall the Indenture Trustee be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Indenture Trustee has been advised closing of the likelihood of Transaction. If IB is instrumental in arranging any such loss or damage and regardless financing, IB shall be entitled to a fee from the Company at each closing equal to 5% of the form of actionamount taken down. The Issuer’s obligations All amounts payable to the Indenture Trustee IB pursuant to this Section 5 shall survive the discharge of this Indenture be payable via wire transfer to an account designated by IB. No fee paid or the earlier resignation payable to IB shall be credited against any other fee paid or removal payable to IB. Since IB will be acting on behalf of the Indenture Trustee. When Company as set forth in this Agreement, and as an integral part of the Indenture Trustee incurs expenses after consideration of the occurrence of a Default specified in Section 5.01(d) or (e) with respect services to the Issuerbe rendered hereunder, the expenses are intended to constitute expenses of administration under Title 11 of the United States Code Company shall indemnify IB and certain other Indemnified Persons (as defined in Schedule A hereto) in accordance with Schedule A. The Company shall not initiate any action or proceeding against IB or any other applicable federal Indemnified Person in connection with this engagement or state bankruptcythe Transaction unless such action or proceeding is based solely upon the gross negligence or willful misconduct of IB or any such Indemnified Person. IB and the Indemnified Persons shall not be deemed agents or fiduciaries of the Company, insolvency and IB will not have the authority to legally bind the Company. IB will not make an appraisal or similar lawvaluation of any assets or liabilities of the Company in connection with its services hereunder.
Appears in 1 contract
Samples: Financial Advisory Agreement (Sovereign Emerging Biomedical Fund Inc)
Compensation and Indemnity. The Issuer shall cause the Servicer to pay to the Indenture Trustee from time to time on each Payment Date reasonable compensation for its servicesservices under this Indenture and the other Transaction Documents in accordance with the Priority of Payments and pursuant to the separate fee agreement between the Trustee and the Issuer. The Indenture Trustee’s compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuer shall cause the Servicer to reimburse the Indenture Trustee for all reasonable out-of-pocket expenses incurred or made by it, including costs of collection, in addition to the compensation for its services. Such expenses shall include but are not limited to the reasonable out-of-pocket compensation and expenses, disbursements and advances of the Indenture Trustee’s agents, counsel, accountants and experts. The Issuer shall cause indemnify, defend and hold harmless the Servicer to indemnify the Indenture Trustee and its officers, directors, employees and agents for and against any and all loss, liability or expense (including attorneys’ fees and expensesfees) incurred by it in connection with the administration of this trust Indenture and the performance of its duties hereunder or and under the Sale and Servicing Agreement other Transaction Documents, including but not limited to the costs of defending any claim or under bringing any other Basic Document claim or in connection with legal action to enforce the Notesindemnification obligations of the Issuer. The Indenture Trustee shall notify the Issuer and the Servicer Trust Depositor promptly of any claim for which it may seek indemnity. Failure by the Indenture Trustee to so notify the Issuer and the Servicer Trust Depositor shall not relieve the Issuer or the Servicer of its obligations hereunderhereunder or under the Trust Agreement. The Issuer shall, or shall cause the Servicer to, defend any such claim, and the Indenture Trustee may have separate counsel and the Issuer shall, or shall cause the Administrator to, pay the fees and expenses of such counsel. Neither the Issuer nor the Servicer need not reimburse any expense or indemnify against any loss, liability or expense incurred by the Indenture Trustee through the Indenture Trustee’s own willful misconduct, negligence or bad faith, except that the Trustee shall not be liable (i) for any error of judgment made by it in good faith unless it is proved that the Trustee was negligent in ascertaining the pertinent facts, (ii) for any action it takes or omits to take in good faith in accordance with directions received by it from the Holders of the Notes in accordance with the terms hereunder, or (iii) for interest on any money received by it except as the Trustee and the Issuer may agree in writing. Anything The Issuer shall assume (with the consent of the Trustee, such consent not to be unreasonably withheld) the defense of claim for indemnification hereunder and any settlement of any such claim and pay all expenses in connection therewith, including reasonable counsel fees. If the consent of the Trustee required in the immediately preceding sentence is unreasonably withheld, the Issuer is relieved of its indemnification obligations hereunder with respect thereto. The obligations of the Issuer set forth in this Agreement Section 6.07 are subject in all respects to Section 11.15(b). The Trustee hereby agrees not to cause the filing of a petition in bankruptcy, insolvency, reorganization, moratorium, receivership, conservatorship or other similar laws now or hereafter in effect against the Issuer for the non-payment to the contrary notwithstanding, in no event shall the Indenture Trustee be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits)amounts provided by this Section 6.07 until at least one year and one day, even or, if longer, the Indenture Trustee has been advised applicable preference period then in effect, after the payment in full of the likelihood of such loss or damage and regardless of the form of actionall Notes issued under this Indenture. The Issuer’s obligations amounts payable to the Indenture Trustee pursuant to this Section 6.07 shall not, except as provided by Section 7.06 of the Sale and Servicing Agreement, exceed on any Payment Date the limitation on the amount thereof described in the Priority of Payments for such Payment Date and in the definition of Administrative Expenses in the Sale and Servicing Agreement; provided that (i) the Trustee shall not institute any proceeding for payment of any amount payable hereunder except in connection with an action pursuant to Section 5.03 or 5.04 for the enforcement of the lien of this Indenture for the benefit of the Noteholders and (ii) the Trustee may only seek to enforce payment of such amounts in conjunction with the enforcement of the rights of the Noteholders in the manner set forth in Section 5.04. The Trustee shall, subject to the Priority of Payments, receive amounts pursuant to this Section 6.07 and Section 7.06 of the Sale and Servicing Agreement, and only to the extent that the payment thereof would not result in an Event of Default and the failure to pay such amounts to the Trustee will not, by itself, constitute an Event of Default. Subject to Section 6.08, the Trustee shall continue to serve as Trustee under this Indenture notwithstanding the fact that the Trustee shall not have received amounts due it hereunder and hereby agrees not to cause the filing of a petition in bankruptcy, insolvency, reorganization, moratorium, receivership, conservatorship or other similar laws now or hereafter in effect against the Issuer for the nonpayment to the Trustee of any amounts provided by this Section 6.07 until at least one year and one day, or, if longer, the applicable preference period then in effect, after the payment in full of all Notes issued under this Indenture. The Issuer’s payment obligations and indemnity to the Trustee pursuant to this Section 6.07 shall survive the discharge of this Indenture or the earlier and resignation or removal of the Indenture Trustee. When the Indenture Trustee incurs expenses after the -xliii- BUSINESS.29147457.3 occurrence of a an Event of Default specified in Section 5.01(dclauses (vi) or (evii) of the definition of “Event of Default” with respect to the Issuer, the expenses are intended to constitute expenses of administration under Title 11 of the United States Code or any other applicable federal or state bankruptcy, insolvency or similar law.
Appears in 1 contract
Samples: Indenture (Hercules Capital, Inc.)
Compensation and Indemnity. The Issuer shall pay or shall cause the Servicer to pay to the Indenture Trustee from time to time reasonable compensation for its servicesservices as Indenture Trustee and as Paying Agent (if the Indenture Trustee serves as such) to the extent such compensation is not otherwise paid to the Indenture Trustee. The Indenture Trustee’s 's compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuer shall or shall cause the Servicer to reimburse the Indenture Trustee for all reasonable out-of-pocket expenses incurred or made by it, including costs of collection, in addition to the compensation for its services. Such expenses shall include but are not limited to the reasonable out-of-pocket compensation and expenses, disbursements and advances of the Indenture Trustee’s 's agents, counsel, accountants and experts. The Issuer shall indemnify or shall cause the Servicer to indemnify the Indenture Trustee against any and all loss, liability or expense (including attorneys’ ' fees and expenses) incurred by it in connection with the administration of this trust Indenture and the performance of its duties hereunder or hereunder, under the Sale Transfer and Servicing Agreement, the Custodian Agreement or under and any other Basic Document document or in connection with transaction contemplated herewith or therewith or as a Paying Agent for the NotesIssuer. The Indenture Trustee shall notify the Issuer and the Servicer promptly of any claim for which it may seek indemnity. Failure by the Indenture Trustee to so notify the Issuer and the Servicer shall not relieve the Issuer or the Servicer of its obligations hereunder. The Issuer shall, shall defend or shall cause the Servicer to, to defend any such claim, and the Indenture Trustee may have separate counsel and the Issuer shall, shall pay or shall cause the Administrator to, Servicer to pay the fees and expenses of such counsel. Neither the Issuer nor the Servicer need reimburse any expense or indemnify against any loss, liability or expense incurred by the Indenture Trustee through the Indenture Trustee’s 's own willful misconduct, negligence or bad faith. Anything in this Agreement to the contrary notwithstanding, in no event shall the Indenture Trustee be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Indenture Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. The Issuer’s 's payment and indemnification obligations to the Indenture Trustee pursuant to this Section shall survive the discharge of this Indenture or and the earlier removal or resignation or removal of the Indenture Trustee. When the Indenture Trustee incurs expenses after the occurrence of a Default specified in Section 5.01(d), (e) or (ef) with respect to the Issuer, the expenses are intended to constitute expenses of administration under Title 11 of the United States Code or any other applicable federal or state bankruptcy, insolvency or similar lawInsolvency Law.
Appears in 1 contract
Samples: Indenture (Greatamerica Leasing Receivables 2001-1 LLC)
Compensation and Indemnity. The Issuer shall cause the Servicer Pursuant to pay to Section 9.05(a) hereof, the Indenture Trustee from time to time reasonable shall receive compensation on each Payment Date for its services, in its capacities as Indenture Trustee, Collateral Agent and Back-up Servicer under the Basic Documents. The Indenture Trustee’s 's compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuer shall cause the Servicer Pursuant to reimburse Section 9.05(a) hereof, the Indenture Trustee shall also be entitled to receive reimbursement for all reasonable out-of-pocket expenses incurred or made by itit in its capacities as Indenture Trustee, Collateral Agent and Back-up Servicer, including costs of collection, in addition to the compensation for its services. Such expenses shall include but are not limited to the reasonable out-of-pocket compensation and expenses, expenses and disbursements and advances of the Indenture Trustee’s 's agents, counsel, accountants and experts. The Issuer shall, or shall cause the Servicer to Administrator to, indemnify the Indenture Trustee against any and all loss, liability or expense (including attorneys’ fees and expenses' fees) incurred by it in connection with the administration of this trust and the performance of its duties hereunder or under the Sale and Servicing Agreement or under any other Basic Document or in connection with the Noteshereunder. The Indenture Trustee shall notify the Issuer Issuer, the Administrator and the Servicer Insurer promptly of any claim for which it may seek indemnityindemnity but failure to do so shall not constitute a waiver of any rights hereunder. Failure by the Indenture Trustee to so notify the Issuer and the Servicer Administrator shall not relieve the Issuer or the Servicer Administrator of its obligations hereunder. The Issuer shall, or shall cause the Servicer Administrator to, defend any such claim, and the Indenture Trustee may have separate counsel and the Issuer shall, or shall cause the Administrator to, pay the fees and expenses of such counsel. Neither the Issuer nor the Servicer Administrator need reimburse any expense or indemnify against any loss, liability or expense incurred by the Indenture Trustee through the Indenture Trustee’s 's own willful misconduct, negligence or bad faith. Anything in this Agreement to the contrary notwithstanding, in no event shall the Indenture Trustee be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Indenture Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. The Issuer’s 's obligations to the Indenture Trustee pursuant to this Section shall survive the discharge of this Indenture or the earlier resignation or removal of the Indenture Trustee, Collateral Agent and Back-up Servicer and the discharge of this Indenture. When the Indenture Trustee incurs expenses after the occurrence of a an Event of Default specified in Section 5.01(d5.01(a)(v) or (evi) with respect to the Issuer, the expenses are intended to constitute expenses of administration under Title 11 of the United States Code or any other applicable federal or state bankruptcy, insolvency or similar law. The Indenture Trustee shall have a lien prior to the Noteholders on the Pledged Assets for amounts due to it under this Section 6.07; provided, however, the Indenture Trustee agrees that no amounts owed or paid under the Policy shall be paid to the Indenture Trustee.
Appears in 1 contract
Compensation and Indemnity. The Issuer shall cause the Servicer to pay to the Indenture Trustee from time to time reasonable compensation for its services. The Indenture Trustee’s 's compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuer shall cause the Servicer to reimburse the Indenture Trustee for all reasonable out-of-pocket expenses incurred or made by it, including costs of collection, in addition to the compensation for its services. Such expenses shall include but are not limited to the reasonable out-of-pocket compensation and expenses, disbursements expenses and disburse- ments and advances of the Indenture Trustee’s 's agents, counsel, accountants and experts. The Issuer shall, or shall cause the Servicer to Administrator to, indemnify the Indenture Trustee against any and all loss, liability or expense (including attorneys’ fees and expenses' fees) incurred by it in connection with the administration of this trust and the performance of its duties hereunder hereunder, except that the Issuer or under the Sale Administrator shall not be liable for or required to indemnify the Indenture Trustee from and Servicing Agreement against expenses arising or under any other Basic Document resulting from negligence, bad faith or in connection with wilful misconduct on the Notespart of the Indenture Trustee. The Indenture Trustee shall notify the Issuer and the Servicer Administrator promptly in writing of any claim for which it may seek indemnity. Failure by the Indenture Trustee to so notify the Issuer and the Servicer Administrator shall not relieve the Issuer or the Servicer Administrator of its obligations hereunderhereunder . The Issuer shall, or shall cause the Servicer Administrator to, defend any such claim, and the Indenture Trustee may have separate counsel and the Issuer shall, or shall cause the Administrator to, pay the fees and expenses of such counsel. Neither the Issuer nor the Servicer Administrator need reimburse any expense or indemnify against any loss, liability or expense incurred by the Indenture Trustee through the Indenture Trustee’s 's own willful misconduct, negligence or bad faith. Anything in this Agreement to the contrary notwithstanding, in no event shall the Indenture Trustee be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Indenture Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. The Issuer’s 's obligations to the Indenture Trustee pursuant to this Section shall survive the discharge of this Indenture or the earlier resignation or removal of the Indenture TrusteeTrustee and the discharge of this Indenture. When the Indenture Trustee incurs expenses after the occurrence of a Default specified in Section 5.01(d5.01 (f) or (eg) with respect to the Issuer, the expenses are intended to constitute expenses of administration under Title 11 of the United States Code or any other applicable federal or state bankruptcy, insolvency or similar law.
Appears in 1 contract
Compensation and Indemnity. The Issuer shall cause the Servicer to pay to As compensation for its services hereunder, the Indenture Trustee from time shall be entitled to time reasonable compensation for its services. The receive, on each Payment Date, the Indenture Trustee’s 's Fee pursuant to SECTION 8.02(c) hereof (which compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuer ) and shall cause be entitled to reimbursement by the Servicer to reimburse the Indenture Trustee for all reasonable out-of-pocket expenses incurred or made by it, including costs of collection, in addition to the compensation for its services. Such expenses shall include but are not limited to the reasonable out-of-pocket compensation and expenses, disbursements and advances of the Indenture Trustee’s 's agents, counsel, accountants and experts. The Issuer shall agrees to cause the Servicer to indemnify the Indenture Trustee against any and all loss, liability or expense (including reasonable attorneys’ fees and expenses' fees) incurred by it in connection with the administration of this trust and the performance of its duties hereunder or under the Sale and Servicing Agreement or under any other Basic Document or in connection with the Noteshereunder. The Indenture Trustee shall notify the Issuer and the Servicer promptly of any claim for which it may seek indemnity. Failure by the Indenture Trustee so to so notify the Issuer and the Servicer shall not relieve the Issuer or the Servicer of its obligations hereunder. The Issuer shall, shall or shall cause the Servicer to, to defend any such claim; provided, however, that if the defendants with respect to any such claim include the Issuer and/or the Servicer and the Indenture Trustee, and the Indenture Trustee shall have reasonably concluded that there may be legal defenses available to it which are different from or in addition to those defenses available to the Issuer or the Servicer, as the case may be, the Indenture Trustee shall have the right, at the expense of the Servicer, to select separate counsel to assert such legal defenses and the Issuer shall, or shall cause the Administrator to, pay the fees and expenses of to otherwise defend itself against such counselclaim. Neither the Issuer nor the Servicer need reimburse any expense or indemnify against any loss, liability or expense incurred by the Indenture Trustee through the Indenture Trustee’s 's own willful misconduct, negligence or bad faith. Anything in this Agreement to the contrary notwithstanding, in no event shall the Indenture Trustee be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Indenture Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. The Issuer’s 's payment obligations to the Indenture Trustee pursuant to this Section SECTION 6.07 shall survive the discharge of this Indenture and the termination or the earlier resignation or removal of the Indenture Trustee. When the Indenture Trustee incurs expenses after the occurrence of a Default specified in Section 5.01(d) SECTION 5.01(f), or (eg) hereof with respect to the Issuer, the expenses are intended to constitute expenses of administration under Title 11 of the United States Code or any other applicable federal or state bankruptcy, insolvency or similar law.
Appears in 1 contract