Common use of Exclusions from Liability Clause in Contracts

Exclusions from Liability. The following provisions shall provide for certain exclusions from the liability of the Depositor: (a) no Depositor of the Trust shall be under any liability to any other Depositor of the Trust, such Trust or the Unit Holders thereof, for any action taken or for refraining from the taking of any action in good faith pursuant to this Agreement, or for errors in judgment or liable or responsible in any way for depreciation or loss incurred by reason of the acquisition or sale of any Securities; provided, however, that this provision shall not protect the Depositor against any liability to which it would otherwise be subject by reason of willful misfeasance, bad faith or gross negligence or by reason of its reckless disregard of its obligations and duties hereunder. The Depositor of the Trust may rely in good faith on any paper, order, notice, list, affidavit, receipt, evaluation, opinion, endorsement, assignment, draft or any other document of any kind prima facie properly executed and submitted to them, or any of them, by any other Depositor of the Trust, the Trustee, the Evaluator or any other person. The Depositor shall in no event be deemed to have assumed or incurred any liability, duty, or obligation to any Unit Holder, the Evaluator or the Trustee other than as expressly provided for herein; (b) the Depositor shall not be under any obligation to appear in, prosecute or defend any legal action which in its opinion may involve it in any expense or liability; provided, however, that the Depositor may in its discretion undertake any such action which it may deem necessary or desirable in respect of this Agreement and the rights and duties of the parties hereto and the interests of the Unit Holders hereunder; (c) none of the provisions of this Agreement shall be deemed to protect or purport to protect the Depositor of the Trust against any liability to the Trust or to the Unit Holders thereof or to each other (if there is more than one Depositor) to which the Depositor would otherwise be subject by reason of willful misfeasance, bad faith or gross negligence in the performance of the duties of the Depositor, or by reason of the Depositor's reckless disregard of the obligations and duties of the Depositor under this Agreement.

Exclusions from Liability. The following provisions shall provide for certain exclusions from the liability of the Depositor: (a) no Depositor of the Trust shall be under any liability to any other Depositor of Depositor, the Trust, such Trust or the Unit Holders thereof, for any action taken or for refraining from the taking of any action in good faith pursuant to this Agreement, or for errors in judgment or liable or responsible in any way for depreciation or loss incurred by reason of the acquisition or sale of any Securities; provided, however, that this provision shall not protect the Depositor against any liability to which it would otherwise be subject by reason of willful misfeasance, bad faith or gross negligence in the performance of its duties or by reason of its reckless disregard of its obligations and duties hereunder. The Depositor of the Trust may rely in good faith on any paper, order, notice, list, affidavit, receipt, evaluation, opinion, endorsement, assignment, draft or any other document of any kind prima facie properly executed and submitted to them, or any of them, by any other Depositor of the TrustDepositor, the Trustee, the Evaluator counsel to an issuer of a Security, or any other person. The Depositor shall in no event be deemed to have assumed or incurred any liability, duty, or obligation to any Unit Holder, the Evaluator Holder or the Trustee other than as expressly provided for herein; (b) the Depositor shall not be under any obligation to appear in, prosecute or defend any legal action which in its opinion may involve it in any expense or liability; provided, however, that the Depositor may in its discretion undertake any such action which it may deem necessary or desirable in respect of this Agreement Indenture and the rights and duties of the parties hereto and the interests of the Unit Holders hereunder;; and (c) none of the provisions of this Agreement Indenture shall be deemed to protect or purport to protect the Depositor of the Trust against any liability to the Trust or to the Unit Holders thereof or to each other (if there is more than one Depositor) to which the Depositor would otherwise be subject by reason of willful misfeasance, bad faith or gross negligence in the performance of the duties of the Depositor, or by reason of the Depositor's reckless disregard of the obligations and duties of the Depositor under this AgreementIndenture.

Exclusions from Liability. The following provisions shall provide for certain exclusions from the liability of the Depositor: (a) no Depositor of the Trust shall be under any liability to any other Depositor of the Trust, such Trust Fund or the Unit Holders thereof, Certificateholders for any action taken or for refraining from the taking of any action in good faith pursuant to this AgreementIndenture, or for errors in judgment or liable or responsible in any way for depreciation or loss incurred by reason of the acquisition or sale of any SecuritiesBonds; provided, however, that this provision shall not protect the Depositor against any liability to which it would otherwise be subject by reason of its own willful misfeasancemisconduct, bad faith or gross negligence or by reason of its reckless disregard of its obligations and duties hereundernegligence. The Depositor of the Trust may rely in good faith on any paper, order, notice, list, affidavit, receipt, evaluation, opinion, endorsement, assignment, draft or any other document of any kind prima facie properly executed and submitted to them, or any of them, it by any other Depositor of the Trust, the Trustee, bond counsel, the Evaluator or any other person. The Depositor shall in no event be deemed to have assumed or incurred any liability, duty, or obligation to any Unit Holder, the Evaluator Certificateholder or the Trustee other than as expressly provided for hereinherein or arising as a matter of law; (b) the Trust shall pay and hold the Depositor harmless from and against any loss, liability or expense incurred in acting as Depositor of the Trust other than reason of willful misconduct, bad faith or gross negligence in the performance of its duties, including the costs and expenses of the defense against any claim or liability in the premises. The Depositor shall not be under any obligation to appear in, prosecute or defend any legal action which in its their opinion may involve it them in any expense or liability; provided, however, that the Depositor may in its discretion undertake any such action which it may deem necessary or desirable in respect of this Agreement and the rights and duties of the parties hereto and the interests interest of the Unit Holders Certificateholders hereunder;; and (c) none of the provisions of this Agreement shall be deemed to protect or purport to protect the Depositor of the Trust against any liability to the Trust Fund or to the Unit Holders thereof or to each other (if there is more than one Depositor) Certificateholders to which the Depositor would otherwise be subject by reason of its own willful misfeasancemisconduct, bad faith or gross negligence in the performance of the duties of the Depositor, or by reason of the Depositor's reckless disregard of the obligations and duties of the Depositor under this Agreementnegligence.

Exclusions from Liability. The following provisions shall provide for certain exclusions from the liability of the Depositor: (a) no Depositor of the Trust shall be under any liability to any other Depositor of the Trust, such Trust or the Unit Holders thereof, for any action taken or for refraining from the taking of any action in good faith pursuant to this Agreement, or for errors in judgment or liable or responsible in any way for depreciation or loss incurred by reason of the acquisition or sale of any Securities; provided, however, that this provision shall not protect the Depositor against any liability to which it would otherwise be subject by reason of willful misfeasance, bad faith or gross negligence in the performance of its duties or by reason of its reckless disregard of its obligations and duties hereunder. The Depositor of the Trust may rely in good faith on any paper, order, notice, list, affidavit, receipt, evaluation, opinion, endorsement, assignment, draft or any other document of any kind prima facie properly executed and submitted to them, or any of them, by any other Depositor of the Trust, the Trustee, bond counsel, the Evaluator or any other person. The Depositor shall in no event be deemed to have assumed or incurred any liability, duty, or obligation to any Unit Holder, the Evaluator or the Trustee other than as expressly provided for herein; (b) the Depositor shall not be under any obligation to appear in, prosecute or defend any legal action which in its opinion may involve it in any expense or liability; provided, however, that the Depositor may in its discretion undertake any such action which it may deem necessary or desirable in respect of this Agreement and the rights and duties of the parties hereto and the interests of the Unit Holders hereunder; (c) none of the provisions of this Agreement shall be deemed to protect or purport to protect the Depositor of the Trust against any liability to the Trust or to the Unit Holders thereof or to each other (if there is more than one Depositor) to which the Depositor would otherwise be subject by reason of willful misfeasance, bad faith or gross negligence in the performance of the duties of the Depositor, or by reason of the Depositor's reckless disregard of the obligations and duties of the Depositor under this Agreement.

Exclusions from Liability. The following provisions shall provide for certain exclusions from the liability of the Depositor: (a) no Depositor of the Trust shall be under any liability to any other Depositor of the Trust, such Trust or the Unit Holders thereof, for any action taken or for refraining from the taking of any action in good faith pursuant to this Agreement, or for errors in judgment or liable or responsible in any way for depreciation or loss incurred by reason of the acquisition or sale of any Securities; providedPROVIDED, howeverHOWEVER, that this provision shall not protect the Depositor against any liability to which it would otherwise be subject by reason of willful misfeasance, bad faith or gross negligence in the performance of its duties or by reason of its reckless disregard of its obligations and duties hereunder. The Depositor of the Trust may rely in good faith on any paper, order, notice, list, affidavit, receipt, evaluation, opinion, endorsement, assignment, draft or any other document of any kind prima facie properly executed and submitted to them, or any of them, by any other Depositor of the Trust, the Trustee, the Evaluator counsel to an issuer of a Security, or any other person. The Depositor shall in no event be deemed to have assumed or incurred any liability, duty, or obligation to any Unit Holder, the Evaluator Holder or the Trustee other than as expressly provided for herein; (b) the Depositor shall not be under any obligation to appear in, prosecute or defend any legal action which in its opinion may involve it in any expense or liability; providedPROVIDED, howeverHOWEVER, that the Depositor may in its discretion undertake any such action which it may deem necessary or desirable in respect of this Agreement and the rights and duties of the parties hereto and the interests of the Unit Holders hereunder;; and (c) none of the provisions of this Agreement shall be deemed to protect or purport to protect the Depositor of the Trust against any liability to the Trust or to the Unit Holders thereof or to each other (if there is more than one Depositor) to which the Depositor would otherwise be subject by reason of willful misfeasance, bad faith or gross negligence in the performance of the duties of the Depositor, or by reason of the Depositor's reckless disregard disre- gard of the obligations and duties of the Depositor under this Agreement.

Exclusions from Liability. The following provisions shall provide for certain exclusions from the liability of the Depositor: (a) no the Depositor of the Trust shall be under any no liability to any other Depositor of the Trust, such Trust Fund or the Unit Holders thereof, Certificateholders for any action taken or for refraining from the taking of any action in good faith pursuant to this AgreementIndenture, or for errors in judgment or liable or responsible in any way for depreciation or loss incurred by reason of the acquisition or sale of any SecuritiesBonds; provided, however, that this provision shall not protect the Depositor against any liability to which it would otherwise be subject by reason of its own willful misfeasancemisconduct, bad faith or gross negligence or by reason of its reckless disregard of its obligations and duties hereundernegligence. The Depositor of the Trust may rely in good faith on any paper, order, notice, list, affidavit, receipt, evaluation, opinion, endorsement, assignment, draft or any other document of any kind prima facie properly executed and submitted to themit, or any of them, by any other Depositor of the Trust, the Trustee, bond counsel, the Evaluator or any other person. The Depositor shall in no event be deemed to have assumed or incurred any liability, duty, or obligation to any Unit Holder, the Evaluator Certificateholder or the Trustee other than as expressly provided for hereinherein or arising as a matter of law; (b) the Depositor shall not be under any obligation to appear in, prosecute or defend any legal action which in its their opinion may involve it in any expense or liability; provided, however, that the Depositor may in its discretion undertake any such action which it may deem necessary or desirable in respect of this Agreement and the rights and duties of the parties hereto and the interests interest of the Unit Holders Certificateholders hereunder;; and (c) none of the provisions of this Agreement shall be deemed to protect or purport to protect the Depositor of the Trust against any liability to the Trust Fund or to the Unit Holders thereof or to each other (if there is more than one Depositor) Certificateholders to which the Depositor would otherwise be subject by reason of its own willful misfeasancemisconduct, bad faith or gross negligence in the performance of the duties of the Depositor, or by reason of the Depositor's reckless disregard of the obligations and duties of the Depositor under this Agreementnegligence.

Exclusions from Liability. The following provisions shall provide for certain exclusions from the liability of the DepositorDepositors: (a) no Depositor of the Trust shall be under any liability to any the other Depositor of Depositor, the Trust, such Trust Fund or the Unit Holders thereof, Certificateholders for any action taken or for refraining from the taking of any action in good faith pursuant to this AgreementIndenture, or for errors in judgment or liable or responsible in any way for depreciation or loss incurred by reason of the acquisition or sale of any SecuritiesBonds; provided, however, that this provision shall not protect the Depositor Depositors against any liability to which it they would otherwise be subject by reason of their own willful misfeasancemisconduct, bad faith or gross negligence or by reason of its reckless disregard of its obligations and duties hereundernegligence. The Depositor of the Trust Depositors may rely in good faith on any paper, order, notice, list, affidavit, receipt, evaluation, opinion, endorsement, assignment, draft or any other document of any kind prima facie properly executed and submitted to them, or to any of them, them by any the other Depositor of the TrustDepositors, the Trustee, bond counsel, the Evaluator or any other person. The Depositor Depositors shall in no event be deemed to have assumed or incurred any liability, duty, or obligation to any Unit Holder, the Evaluator Certificateholder or the Trustee other than as expressly provided for hereinherein or arising as a matter of law; (b) the Depositor Depositors shall not be under any obligation to appear in, prosecute or defend any legal action which in its their opinion may involve it them in any expense or liability; provided, however, that the Depositor Depositors may in its their discretion undertake any such action which it they may deem necessary or desirable in respect of this Agreement and the rights and duties of the parties hereto and the interests interest of the Unit Holders Certificateholders hereunder;; and (c) none of the provisions of this Agreement shall be deemed to protect or purport to protect the Depositor of the Trust Depositors against any liability to the Trust Fund or to the Unit Holders thereof or to each other (if there is more than one Depositor) Certificateholders to which the Depositor Depositors would otherwise be subject by reason of their own willful misfeasancemisconduct, bad faith or gross negligence in the performance of the duties of the Depositor, or by reason of the Depositor's reckless disregard of the obligations and duties of the Depositor under this Agreementnegligence.

Exclusions from Liability. The following provisions shall provide for certain exclusions from the liability of the Depositor: (a) no Depositor of the Trust shall be under any liability to any other Depositor of the Trust, such Trust or the Unit Holders thereof, for any action taken or for refraining from the taking of any action in good faith pursuant to this Agreement, or for errors in judgment or liable or responsible in any way for depreciation or loss incurred by reason of the acquisition or sale of any Securities; providedPROVIDED, howeverHOWEVER, that this provision shall not protect the Depositor against any liability to which it would otherwise be subject by reason of willful misfeasance, bad faith or gross negligence in the performance of its duties or by reason of its reckless disregard of its obligations and duties hereunder. The Depositor of the Trust may rely in good faith on any paper, order, notice, list, affidavit, receipt, evaluation, opinion, endorsement, assignment, draft or any other document of any kind prima facie properly executed and submitted to them, or any of them, by any other Depositor of the Trust, the Trustee, the Evaluator counsel to an issuer of a Security, or any other person. The Depositor shall in no event be deemed to have assumed or incurred any liability, duty, or obligation to any Unit Holder, the Evaluator Holder or the Trustee other than as expressly provided for herein; (b) the Depositor shall not be under any obligation to appear in, prosecute or defend any legal action which in its opinion may involve it in any expense or liability; providedPROVIDED, howeverHOWEVER, that the Depositor may in its discretion discre- tion undertake any such action which it may deem necessary or desirable in respect of this Agreement and the rights and duties of the parties hereto and the interests of the Unit Holders hereunder;; and (c) none of the provisions of this Agreement shall be deemed to protect or purport to protect the Depositor of the Trust against any liability to the Trust or to the Unit Holders thereof or to each other (if there is more than one Depositor) to which the Depositor would otherwise be subject by reason of willful misfeasance, bad faith or gross negligence in the performance of the duties of the Depositor, or by reason of the Depositor's reckless disregard of the obligations and duties of the Depositor under this Agreement.

Exclusions from Liability. The following provisions shall provide for certain exclusions from the liability of the Depositor: (a) no Depositor of the Trust shall be under any liability to any other Depositor of the Trust, such Trust or the Unit Holders thereof, for any action taken or for refraining from the taking of any action in good faith pursuant to this Agreement, or for errors in judgment or liable or responsible in any way for depreciation or loss incurred by reason of the acquisition or sale of any Securities; provided, however, that this provision shall not protect the Depositor against any liability to which it would otherwise be subject by reason of willful misfeasance, bad faith or gross negligence in the performance of its duties or by reason of its reckless disregard of its obligations and duties hereunder. The Depositor of the Trust may rely in good faith on any paper, order, notice, list, affidavit, receipt, evaluation, opinion, endorsement, assignment, draft or any other document of any kind prima facie properly executed and submitted to them, or any of them, by any other Depositor of the Trust, the Trustee, the Evaluator counsel to an issuer of a Security, or any other person. The Depositor shall in no event be deemed to have assumed or incurred any liability, duty, or obligation to any Unit Holder, the Evaluator Holder or the Trustee other than as expressly provided for herein; (b) the Depositor shall not be under any obligation to appear in, prosecute or defend any legal action which in its opinion may involve it in any expense or liability; provided, however, that the Depositor may in its discretion undertake any such action which it may deem necessary or desirable in respect of this Agreement and the rights and duties of the parties hereto and the interests of the Unit Holders hereunder;; and (c) none of the provisions of this Agreement shall be deemed to protect or purport to protect the Depositor of the Trust against any liability to the Trust or to the Unit Holders thereof or to each other (if there is more than one Depositor) to which the Depositor would otherwise be subject by reason of willful misfeasance, bad faith or gross negligence in the performance of the duties of the Depositor, or by reason of the Depositor's reckless disregard of the obligations and duties of the Depositor under this Agreement.