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

Compliance with law and Transaction Documents. The CBC Services shall include procuring (insofar as the Administrator, 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 Administrator 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 Administrator 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, willful misconduct or negligence in any material respect by the Administrator to perform any of its obligations under this Agreement or any of the other Transaction Documents. The Administrator and the CBC further agree that the Administrator shall perform the CBC Services in accordance with and subject to any applicable outsourcing rules and regulations and any instructions from the relevant supervisory authorities in relation thereto.

Compliance with law and Transaction Documents. The CBC Services shall include procuring (insofar as the Administrator, 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 Administrator shall not lend or provide any sum to the CBC (other than 53108111 M 56155777 / 2 as expressly contemplated by this Agreement or any of the other Transaction Documents), and that the Administrator 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, willful misconduct or negligence in any material respect by the Administrator to perform any of its obligations under this Agreement or any of the other Transaction Documents. The Administrator and the CBC further agree that the Administrator shall perform the CBC Services in accordance with and subject to any applicable outsourcing rules and regulations and any instructions from the relevant supervisory authorities in relation thereto.