Common use of Discharge of Liens Clause in Contracts

Discharge of Liens. The Owner Trustee will promptly take, at its own expense, action necessary to discharge a Lien (other than the Lien of the Indenture) on the Trust Property resulting from actions by, or claims against, the Owner Trustee in its individual capacity that are not related to the ownership or the administration of the Trust Property.

Appears in 108 contracts

Samples: Trust Agreement (Ford Credit Auto Owner Trust 2024-C), Trust Agreement (Ford Credit Auto Owner Trust 2024-C), Trust Agreement (Ford Credit Auto Receivables Two LLC)

AutoNDA by SimpleDocs

Discharge of Liens. The Owner Trustee will promptly take, at its own expense, action necessary to discharge a Lien (other than the Lien of the IndentureMaster Collateral Agent, the Lien of any Indenture Trustee or pursuant to any Series Related Documents) on the Trust Property resulting from actions by, or claims against, the Owner Trustee in its individual capacity that are not related to the ownership or the administration of the Trust Property.

Appears in 4 contracts

Samples: Trust Agreement (Verizon Master Trust), Trust Agreement (Verizon Master Trust), Trust Agreement (Verizon Master Trust)

AutoNDA by SimpleDocs

Discharge of Liens. The Owner Trustee will promptly take, at its own cost and expense, action necessary to discharge a Lien (other than the Lien of the Indenture) on the Trust Property resulting from actions by, or claims against, the Owner Trustee in its individual capacity that are not related to the ownership or the administration of the Trust Property.

Appears in 1 contract

Samples: Trust Agreement (Ford Credit Auto Receivables Two LLC)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!