Liability of Owners. The Owners shall be entitled to the same limitation of personal liability extended to stockholders of private corporations for profit organized under the general corporation law of the State of Delaware.
Liability of Owners. The Residual Interestholder shall not have any personal liability for any liability or obligation of the Trust.
Liability of Owners. (a) The Depositor shall be liable directly to and will indemnify any injured party for all losses, claims, damages, liabilities and expenses of the Trust (including Expenses, to the extent not paid out of the Owner Trust Estate) to the extent that the Depositor would be liable if the Trust were a partnership under the Delaware Revised Uniform Limited Partnership Act in which the Depositor were a general partner; provided, however, that the Depositor shall not be liable for any losses incurred by a Certificateholder in the capacity of an investor in the Trust Certificates, or by a Noteholder in the capacity of an investor in the Notes. In addition, any third party creditors of the Trust (other than in connection with the obligations described in the preceding sentence for which the Depositor shall not be liable) shall be deemed third party beneficiaries of this paragraph and paragraph (c) below. The obligations of the Depositor under this paragraph and paragraph (c) below shall be evidenced by the Trust Certificates described in Section 3.10, which for purposes of the Business Trust Statute shall be deemed to be a separate class of Trust Certificates from all other Trust Certificates issued by the Trust; provided that the rights and obligations evidenced by all Trust Certificates, regardless of class, shall, except as provided in this Section, be identical.
Liability of Owners. (1) Subject to Subsection (2), where a person has a beneficial interest in a ship registered under this Act and that ship is registered in the name of some other person as owner, the person having the interest shall, as well as the registered owner, be subject to all pecuniary penalties imposed by this Act on the owners of 54 Section 45 Subsection (2) amended by No. 70 of 2006, s. 17.
Liability of Owners. (1) Subject to Subsection (2), where a person has a beneficial interest in a ship registered under this Act and that ship is registered in the name of some other person as owner, the person having the interest shall, as well as the registered owner, be subject to all pecuniary penalties imposed by this Act on the owners of ships, and proceedings may be taken for the enforcement of any such penalties against both or either of those persons, with or without joining the other of them.
Liability of Owners. The Certificateholders shall not have any personal liability for any liability or obligation of the Trust.
Liability of Owners. No Owner shall have any personal liability for any liability or obligation of the Trust.
Liability of Owners. (a) The Depositor will be liable directly to and will indemnify any injured party for all losses, claims, damages, liabilities and expenses of the Trust (including Expenses, to the extent not paid out of the Owner Trust Estate) to the extent that the Depositor would be liable if the Trust were a partnership under the New York Revised Uniform Limited Partnership Act in which the Depositor were a general partner; provided, however, that the Depositor will not be liable for any losses incurred by a Certificateholder in the capacity of an investor in the Trust Certificates, or by a Noteholder in the capacity of an investor in the Notes. In addition, any third party creditors of the Trust (other than in connection with the obligations described in the preceding sentence for which the Depositor will not be liable) will be deemed third party beneficiaries of this paragraph. The obligations of the Depositor under this paragraph will be evidenced by the Trust Certificates described in Section 3.10(a).
Liability of Owners. (a) The General Partner shall be liable directly to and will indemnify the injured party for all losses, claims, damages, liabilities and expenses of the Issuer (to the extent that, if all amounts due on the Notes and Certificates were paid in full at the time such liability becomes due, the remaining assets of the Issuer would be insufficient to pay such amount) to the extent that the General Partner would be liable if the Issuer were a partnership under the Delaware Revised Uniform Limited Partnership Act in which the General Partner were a general partner; provided, however, that the General Partner shall not be liable for any losses incurred by a Certificateholder in the capacity of an investor in the Certificates or a Noteholder in the capacity of an investor in the Notes. In addition, any third party creditors of the Issuer (other than in connection with the obligations described in the preceding proviso for which the General Partner shall not be liable) shall be deemed third party beneficiaries of this paragraph. The obligations of the General Partner under this paragraph shall be evidenced by the Certificates described in Section 3.15, which for purposes of the Business Trust Statute shall be deemed to be a separate class of Certificates from all other Certificates issued by the Issuer; provided, however, that the rights and obligations evidenced by all Certificates, regardless of class, shall, except as provided in this Section, be identical.
Liability of Owners. 3 3.3 Allocation and Distribution of Vehicles........................... 3 3.4 Financing the Purchase of Aston Xxxxxx Vehicles................... 3 3.5 Payment for Aston Xxxxxx Vehicles; Title.......................... 3 3.6 Grant of Security Interest; Execution of Security Agreement....... 3 3.7 Method of Shipment of Aston Xxxxxx Vehicles....................... 4 3.8 Diversions of Shipments........................................... 4 3.9 Risk of Loss; Insurance........................................... 4 3.10 Transportation Damages or Loss.................................... 4 3.11 Changes in Specifications......................................... 4 3.12 Failure of, or Delay in, Delivery................................. 4 3.13 Federal, State and Local Taxes.................................... 5 3.14
