Common use of Limitation of Lessor's Liability Clause in Contracts

Limitation of Lessor's Liability. It is expressly agreed and understood that all representations, warranties and undertakings of Lessor hereunder (except as expressly provided herein) shall be binding upon Lessor only in its capacity as Owner Trustee under the Trust Agreement and in no case shall Wilmington Trust Company be personally liable for or on account of any statements, representations, warranties, covenants or obligations stated to be those of Lessor hereunder, except that Lessor (or any successor Owner Trustee) shall be personally liable for its gross negligence or willful misconduct or for its breach of its covenants, representations and warranties contained herein to the extent covenanted or made in its individual capacity.

Appears in 2 contracts

Samples: Equipment Lease Agreement (Kansas City Southern), Equipment Lease Agreement (Kansas City Southern)

AutoNDA by SimpleDocs

Limitation of Lessor's Liability. It is expressly agreed and -------------------------------- understood that all representations, warranties and undertakings of Lessor hereunder (except as expressly provided herein) shall be binding upon Lessor only in its capacity as Owner Trustee under the Trust Agreement and in no case shall Wilmington the Trust Company be personally liable for or on account of any statements, representations, warranties, covenants or obligations stated to be those of Lessor hereunder, except that Lessor (or any successor Owner Trustee) shall be personally liable for its gross negligence or willful wilful misconduct or and for its breach of its covenants, representations and warranties contained herein to the extent covenanted or made in its individual capacity.

Appears in 1 contract

Samples: Equipment Lease Agreement (Gatx Rail Corp)

Limitation of Lessor's Liability. It is expressly agreed and understood that all representations, warranties and undertakings of Lessor hereunder (except as expressly provided herein) shall be binding upon Lessor only in its capacity as Owner Trustee under the Trust Agreement and in no case shall Wilmington Trust Company [Owner Trustee] be personally liable for or on account of any statements, representations, warranties, covenants or obligations stated to be those of Lessor hereunder, except that Lessor (or any successor Owner Trustee) shall be personally liable for its gross negligence or willful wilful misconduct or and for its breach of its covenants, representations and warranties contained herein to the extent covenanted or made in its individual capacity.

Appears in 1 contract

Samples: Equipment Lease Agreement (General American Railcar Corp Ii)

AutoNDA by SimpleDocs

Limitation of Lessor's Liability. It is expressly agreed and understood that all representations, warranties and undertakings of Lessor hereunder (except as expressly provided herein) shall be binding upon Lessor only in its capacity as Owner Trustee under the Trust Agreement and in no case shall Wilmington State Street Bank and Trust Company be personally liable for or on account of any statements, representations, warranties, covenants or obligations stated to be those of Lessor hereunder, except that Lessor (or any successor Owner Trustee) shall be personally liable for its gross negligence or willful wilful misconduct or and for its breach of its covenants, representations and warranties contained herein to the extent covenanted or made in its individual capacity.

Appears in 1 contract

Samples: Equipment Lease Agreement (Union Tank Car Co)

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