Common use of Liability of Lessor Limited Clause in Contracts

Liability of Lessor Limited. The parties hereto agree that First Security Bank, National Association, in its individual capacity ("First Security"), shall have no personal liability whatsoever to Lessee or its respective successors and assigns for any Claim based on or in respect of this Lease or any of the other Operative Documents or arising in any way from the transactions contemplated hereby or thereby; provided, however, that First Security shall be liable in its individual capacity (a) for its own willful misconduct or gross negligence (or negligence in the handling of funds), (b) for liabilities that may result from the incorrectness of any representation or warranty expressly made by it in its individual capacity in Section 4.3 of the Participation Agreement or from the failure of First Security to perform its covenants and agreements set forth in Section 6.2 of the Participation Agreement, or (c) for any Tax based on or measured by any fees, commission or compensation received by it for acting as Lessor as contemplated by the Operative Documents. It is understood and agreed that, except as provided in the preceding proviso: (i) First Security shall have no personal liability under any of the Operative Documents as a result of acting pursuant to and consistent with any of the Operative Documents; (ii) all obligations of Lessor to Lessee are solely nonrecourse obligations except to the extent that it has received payment from others; (iii) all such personal liability of First Security is expressly waived and released as a condition of, and as consideration for, the execution and delivery of the Operative Documents by First Security and (iv) this Lease is executed and delivered by First Security solely as Certificate Trustee in the exercise of the powers expressly conferred upon it as Lessor under the Trust Agreement.

Liability of Lessor Limited. The parties hereto agree that First Security Bank, National Association, Lessor in its individual capacity ("First Security"), shall have no personal liability whatsoever to Lessee or its respective successors and assigns for any Claim based on or in respect of this Lease or any of the other Operative Documents or arising in any way from the transactions contemplated hereby or thereby; providedPROVIDED, howeverHOWEVER, that First Security Lessor shall be liable in its individual capacity (a1) for its own willful misconduct or gross negligence (or negligence in the handling of funds), (b2) for liabilities that may result from the incorrectness of any representation or warranty expressly made by it Lessor in its individual capacity in Section 4.3 of the Participation Agreement or from the failure of First Security Lessor to perform its Lessor's covenants and agreements set forth in Section 6.2 6.4 of the Participation Agreement, or (c3) for any Tax based on or measured by any fees, commission or compensation received by it Lessor for acting as Lessor Bank as contemplated by the Operative Documents. It is understood and agreed that, except as provided in the preceding proviso: (ia) First Security Lessor shall have no personal liability under any of the Operative Documents as a result of acting pursuant to and consistent with any of the Operative Documents; (iib) all obligations of Lessor to Lessee are solely nonrecourse obligations except to the extent that it Lessor has received payment from others; (iiic) all such personal liability of First Security Lessor is expressly waived and released as a condition of, and as consideration for, the execution and delivery of the Operative Documents by First Security Lessor; and (ivd) this Lease is executed and delivered by First Security Lessor solely as Certificate Trustee in the exercise of the powers expressly conferred upon it Lessor as Lessor Certificate Trustee under the Trust Agreement.Trust

Liability of Lessor Limited. The parties hereto agree that First Security Bank, National Association, in its individual capacity ("First Security"), Bank shall have no personal liability whatsoever to Lessee or its respective successors and assigns for any Claim based on or in respect of this Lease or any of the other Operative Documents or arising in any way from the transactions contemplated hereby or thereby; provided, however, that First Security Bank shall be liable in its individual capacity (a) for its own willful misconduct or gross negligence (or negligence in the handling of funds)negligence, (b) for liabilities that may result from the incorrectness of any representation or warranty expressly made by it in its individual capacity in Section 4.3 of the Participation Agreement or from the failure of First Security Bank to perform its covenants and agreements set forth in Section 6.2 of the Participation AgreementOperative Documents, or (c) for any Tax based on or measured by any fees, commission or compensation received by it for acting as Lessor as contemplated by the Operative Documents, or (d) for negligent handling of funds. It is understood and agreed that, except as provided in the preceding proviso: (i) First Security Bank shall have no personal liability under any of the Operative Documents as a result of acting pursuant to and consistent with any of the Operative Documents; (ii) all obligations of Lessor to Lessee are solely nonrecourse obligations except to the extent that it has received payment from others; (iii) all such personal liability of First Security Bank is expressly waived and released as a condition of, and as consideration for, the execution and delivery of the Operative Documents by First Security Bank and (iv) this Lease is executed and delivered by First Security Bank solely as Certificate Trustee in the exercise of the powers expressly conferred upon it as Lessor under the Trust Agreement.