Common use of Liability of the Depositor and the Certificateholders Clause in Contracts

Liability of the Depositor and the Certificateholders. Neither the Depositor (except as otherwise provided herein) nor any Certificateholder shall have any personal liability for any liability or obligation of the Trust.

Appears in 26 contracts

Samples: Trust Agreement (Usaa Acceptance LLC), Trust Agreement (USAA Auto Owner Trust 2008-1), Trust Agreement (USAA Auto Owner Trust 2007-2)

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Liability of the Depositor and the Certificateholders. Neither the Depositor (except as otherwise provided herein) nor any Certificateholder shall have any personal liability for any liability or obligation of the Trust.

Appears in 3 contracts

Samples: Trust Agreement (Usaa Federal Savings Bank Usaa Auto Owner Trust 2001-1), Trust Agreement (Usaa Federal Savings Bank), Trust Agreement (Usaa Federal Savings Bank)

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