Common use of Compliance with law and Transaction Documents Clause in Contracts

Compliance with law and Transaction Documents. The Pool Services shall include procuring (insofar as the Servicer having used its reasonable endeavours is able to do so) compliance by the CBC with all applicable legal requirements and with the terms of the Transaction Documents to which the CBC is a party, provided always that the Servicer shall not lend or provide any sum to the CBC (other than as expressly contemplated by this Agreement or any of the other Transaction Documents), and that the Servicer shall have no liability whatsoever to the CBC, the Security Trustee, the Covered Bondholders or any other person for any failure by the CBC to make any payment due by it under any Transaction Document unless such failure by the CBC results from a failure due to fraud, gross negligence or wilful misconduct by the Servicer to perform any of its obligations under this Agreement or any of the other Transaction Documents.

Compliance with law and Transaction Documents. The Pool Services shall include procuring (insofar as the Servicer having used its reasonable endeavours is able to do so) compliance by the CBC with all applicable legal requirements and with the terms of the Transaction Documents to which the CBC is a party, provided always that the Servicer shall not lend or provide any sum to the CBC (other than as expressly contemplated by this Agreement or any of the other Transaction Documents), and that the Servicer shall have no liability whatsoever to the CBC, the Security Trustee, the Covered Bondholders or any other person for any failure by the CBC to make any payment due by it the CBC under any Transaction Document unless such failure by the CBC results from a failure due to fraud, gross negligence or wilful misconduct by the Servicer to perform any of its the Servicer's obligations under this Agreement or any of the other Transaction Documents.

Compliance with law and Transaction Documents. The Pool Services shall include procuring (insofar as the Servicer having used its reasonable endeavours is able to do so) compliance by the CBC with all applicable legal requirements and with the terms of the Transaction Documents to which the CBC is a party, provided always that the Servicer shall not lend or provide any sum to the CBC (other than as expressly contemplated by this Agreement or any of the other Transaction Documents), and that the Servicer shall have no liability whatsoever to the CBC, the Security Trustee, the Covered Bondholders or any other person for any failure by the CBC to make any payment due by it under any Transaction Document unless such failure by the CBC results from a failure due to fraud, gross negligence or negligence, wilful misconduct or negligence in any material respect by the Servicer to perform any of its obligations under this Agreement or any of the other Transaction Documents.