Common use of Concerning the Owner Trustee and the Grantor Trust Trustee Clause in Contracts

Concerning the Owner Trustee and the Grantor Trust Trustee. It is expressly understood and agreed by the parties hereto that (a) this Agreement is executed and delivered by BNY Mellon Trust of Delaware (“BNY Delaware”), not individually or personally but solely as Owner Trustee of the Issuing Entity and Grantor Trust Trustee of the Grantor Trust, in the exercise of the powers and authority conferred and vested in it, (b) each of the representations, undertakings and agreements herein made on the part of the Issuing Entity or Grantor Trust, as applicable, is made and intended not as personal representations, undertakings and agreements by BNY Delaware but is made and intended for the purpose of binding only the Issuing Entity or Grantor Trust, as applicable, (c) nothing herein contained shall be construed as creating any liability on BNY Delaware, individually or personally, to perform any covenant either expressed or implied contained herein of the Issuing Entity or Grantor Trust, as applicable, all such liability, if any, being expressly waived by the parties hereto and by any Person claiming by, through or under the parties hereto, (d) BNY Delaware has made no investigation as to the accuracy or completeness of any representations and warranties made by the Issuing Entity or Grantor Trust, as applicable, in this Agreement and (e) under no circumstances shall BNY Delaware be personally liable for the payment of any indebtedness or expenses of the Issuing Entity or Grantor Trust, as applicable, or be liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken by the Issuing Entity or Grantor Trust, as applicable under this Agreement.

Appears in 20 contracts

Samples: Collateral Custodian Agreement (Carvana Auto Receivables Trust 2022-P3), Collateral Custodian Agreement (Carvana Auto Receivables Trust 2022-P3), Collateral Custodian Agreement (Carvana Auto Receivables Trust 2024-P2)

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Concerning the Owner Trustee and the Grantor Trust Trustee. It is expressly understood and agreed by the parties hereto that (a) this Agreement is executed and delivered by BNY Mellon Trust of Delaware Wilmington Trust, National Association (“BNY DelawareWTNA”), not individually or personally but solely as Owner Trustee of the Issuing Entity and Grantor Trust Trustee of the Grantor Trust, in the exercise of the powers and authority conferred and vested in it, (b) each of the representations, undertakings and agreements herein made on the part of the Issuing Entity or Grantor Trust, as applicable, is made and intended not as personal representations, undertakings and agreements by BNY Delaware WTNA but is made and intended for the purpose of binding only the Issuing Entity or Grantor Trust, as applicable, (c) nothing herein contained shall be construed as creating any liability on BNY DelawareWTNA, individually or personally, to perform any covenant either expressed or implied contained herein of the Issuing Entity or Grantor Trust, as applicable, all such liability, if any, being expressly waived by the parties hereto and by any Person claiming by, through or under the parties hereto, (d) BNY Delaware WTNA has made no investigation as to the accuracy or completeness of any representations and warranties made by the Issuing Entity or Grantor Trust, as applicable, in this Agreement and (e) under no circumstances shall BNY Delaware WTNA be personally liable for the payment of any indebtedness or expenses of the Issuing Entity or Grantor Trust, as applicable, or be liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken by the Issuing Entity or Grantor Trust, as applicable under this Agreement.

Appears in 6 contracts

Samples: Collateral Custodian Agreement (Carvana Auto Receivables Trust 2021-N1), Collateral Custodian Agreement (Carvana Auto Receivables Trust 2021-P1), Collateral Custodian Agreement (Carvana Auto Receivables Trust 2021-N1)

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Concerning the Owner Trustee and the Grantor Trust Trustee. It is expressly understood and agreed by the parties hereto that (a) this Agreement is executed and delivered by BNY Mellon Trust of Delaware [ ] (“BNY Delaware[OT]”), not individually or personally but solely as Owner Trustee of the Issuing Entity [and Grantor Trust Trustee of the Grantor Trust], in the exercise of the powers and authority conferred and vested in it, (b) each of the representations, undertakings and agreements herein made on the part of the Issuing Entity [or Grantor Trust, as applicable, ,] is made and intended not as personal representations, undertakings and agreements by BNY Delaware [OT] but is made and intended for the purpose of binding only the Issuing Entity or Grantor Trust, as applicable, (c) nothing herein contained shall be construed as creating any liability on BNY Delaware[OT], individually or personally, to perform any covenant either expressed or implied contained herein of the Issuing Entity [or Grantor Trust, as applicable, ,] all such liability, if any, being expressly waived by the parties hereto and by any Person claiming by, through or under the parties hereto, (d) BNY Delaware [OT] has made no investigation as to the accuracy or completeness of any representations and warranties made by the Issuing Entity [or Grantor Trust, as applicable, ,] in this Agreement and (e) under no circumstances shall BNY Delaware [OT] be personally liable for the payment of any indebtedness or expenses of the Issuing Entity [or Grantor Trust, as applicable], or be liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken by the Issuing Entity [or Grantor Trust, as applicable applicable] under this Agreement.

Appears in 1 contract

Samples: Collateral Custodian Agreement (Carvana Receivables Depositor LLC)

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