Common use of Limitation of Liability of Eligible Lender Trustee and Indenture Trustee Clause in Contracts

Limitation of Liability of Eligible Lender Trustee and Indenture Trustee. (a) Notwithstanding anything contained herein to the contrary, this Agreement has been executed and delivered by [____________], not in its individual capacity but solely in its capacity as Eligible Lender Trustee of the Issuer, and in no event shall [____________], in its individual capacity have any liability for the representations, warranties, covenants, agreements or other obligations of the Issuer or the Eligible Lender Trustee hereunder or in any of the certificates, notices or agreements delivered pursuant hereto as to all of which recourse shall be had solely to the assets of the Issuer. (b) Notwithstanding anything contained herein to the contrary, this Agreement has been executed and delivered by [____________], not in its individual capacity but solely as Indenture Trustee, and in no event shall [____________] have any liability for the representations, warranties, covenants, agreements or other obligations of the Issuer hereunder or in any of the certificates, notices or agreements delivered pursuant hereto, as to all of which recourse shall be had solely to the assets of the Issuer. (c) The rights of and protections of the Indenture Trustee and the Eligible Lender Trustee, as applicable, under the Indenture and the Trust Agreement, respectively, shall be incorporated as though explicitly set forth herein.

Appears in 4 contracts

Samples: Administration Agreement (SLM Education Credit Funding LLC), Administration Agreement (SLM Funding LLC), Administration Agreement (SLM Funding LLC)

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Limitation of Liability of Eligible Lender Trustee and Indenture Trustee. (a) A. Notwithstanding anything contained herein to the contrary, this Agreement has been executed and delivered signed by [_____________], not in its individual capacity but solely in its capacity as Eligible Lender Trustee of the Issuer, Issuer and in no event shall [_____________], in its individual capacity or, except as expressly provided in the Trust Agreement, as Eligible Lender Trustee have any liability for the representations, warranties, covenants, agreements or other obligations of the Issuer or the Eligible Lender Trustee hereunder or in any of the certificates, notices or agreements delivered pursuant hereto as to all of which recourse shall be had solely to the assets of the Issuer. (b) B. Notwithstanding anything contained herein to the contrary, this Agreement has been executed and delivered signed by [_____________], not in its individual capacity but solely as Indenture Trustee, and in no event shall [_____________] have any liability for the representations, warranties, covenants, agreements or other obligations of the Issuer hereunder or in any of the certificates, notices or agreements delivered pursuant hereto, as to all of which recourse shall be had solely to the assets of the Issuer. (c) The rights of and protections of the Indenture Trustee and the Eligible Lender Trustee, as applicable, under the Indenture and the Trust Agreement, respectively, shall be incorporated as though explicitly set forth herein.

Appears in 3 contracts

Samples: Servicing Agreement (SLM Education Credit Funding LLC), Servicing Agreement (SLM Education Credit Funding LLC), Servicing Agreement (SLM Funding LLC)

Limitation of Liability of Eligible Lender Trustee and Indenture Trustee. (a) Notwithstanding anything contained herein to the contrary, this Agreement has been executed and delivered by [_______________________________], not in its individual capacity but solely in its capacity as Eligible Lender Trustee of the Issuer, and in no event shall [__________________________________], in its individual capacity have any liability for the representations, warranties, covenants, agreements or other obligations of the Issuer or the Eligible Lender Trustee hereunder or in any of the certificates, notices or agreements delivered pursuant hereto as to all of which recourse shall be had solely to the assets of the Issuer. (b) Notwithstanding anything contained herein to the contrary, this Agreement has been executed and delivered by [_______________________________], not in its individual capacity but solely as Indenture Trustee, and in no event shall [___________________________________] have any liability for the representations, warranties, covenants, agreements or other obligations of the Issuer hereunder or in any of the certificates, notices or agreements delivered pursuant hereto, as to all of which recourse shall be had solely to the assets of the Issuer. (c) The rights of and protections of the Indenture Trustee and the Eligible Lender Trustee, as applicable, under the Indenture and the Trust Agreement, respectively, shall be incorporated as though explicitly set forth herein.

Appears in 1 contract

Samples: Administration Agreement (Wachovia Education Loan Funding LLC)

Limitation of Liability of Eligible Lender Trustee and Indenture Trustee. (a) Notwithstanding anything contained herein to the contrary, this Agreement instrument has been executed and delivered countersigned by [____________TRUSTEE], National Association not in its individual capacity but solely in its capacity as Eligible Lender Trustee of the Issuer, Issuer and in no event shall [____________TRUSTEE], National Association in its individual capacity or any Owner of the Issuer have any liability for the representations, warranties, covenants, agreements or other obligations of the Issuer or the Eligible Lender Trustee hereunder or in any of the certificateshereunder, notices or agreements delivered pursuant hereto as to all of which recourse shall be had solely to the assets of the Issuer. (b) . For all purposes of this Agreement, in the performance of any duties or obligations of the Issuer thereunder, the Trustee shall be subject to, and entitled to the benefits of, the terms and provisions of Articles VI, VII and VIII of the Trust Agreement. Notwithstanding anything contained herein to the contrary, this Agreement has been executed countersigned by [ ] and delivered by [____________], [ ] not in its their individual capacity capacities but solely as [Eligible Lender Trustee and] Indenture Trustee, Trustee and in no event shall [____________[ ] and [ ] have any liability for the representations, warranties, covenants, agreements or other obligations of the Issuer hereunder or in any of the certificates, notices or agreements delivered pursuant hereto, as to all of which recourse shall be had solely to the assets of the Issuer. (c) The rights of and protections of the Indenture Trustee and the Eligible Lender Trustee, as applicable, under the Indenture and the Trust Agreement, respectively, shall be incorporated as though explicitly set forth herein.

Appears in 1 contract

Samples: Administration Agreement (Efg Funding Corp)

Limitation of Liability of Eligible Lender Trustee and Indenture Trustee. (a) A. Notwithstanding anything contained herein to the contrary, this Agreement has been executed and delivered signed by [____________[ ], not in its individual capacity but solely in its capacity as Eligible Lender Trustee of the Issuer, Issuer and in no event shall [____________], [ ] in its individual capacity or, except as expressly provided in the Trust Agreement, as Eligible Lender Trustee have any liability for the representations, warranties, covenants, agreements or other obligations of the Issuer or the Eligible Lender Trustee hereunder or in any of the certificates, notices or agreements delivered pursuant hereto as to all of which recourse shall be had solely to the assets of the Issuer. (b) B. Notwithstanding anything contained herein to the contrary, this Agreement has been executed and delivered signed by [____________[ ], not in its individual capacity but solely as Indenture Trustee, and in no event shall [____________[ ] have any liability for the representations, warranties, covenants, agreements or other obligations of the Issuer hereunder or in any of the certificates, notices or agreements delivered pursuant hereto, as to all of which recourse shall be had solely to the assets of the Issuer. (c) The rights of and protections of the Indenture Trustee and the Eligible Lender Trustee, as applicable, under the Indenture and the Trust Agreement, respectively, shall be incorporated as though explicitly set forth herein.

Appears in 1 contract

Samples: Servicing Agreement (SLM Funding LLC)

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Limitation of Liability of Eligible Lender Trustee and Indenture Trustee. (a) A. Notwithstanding anything contained herein to the contrary, this Agreement has been executed and delivered signed by [____________________________________], not in its individual capacity but solely in its capacity as Eligible Lender Trustee of the Issuer, Issuer and in no event shall [____________], ________________________] in its individual capacity or, except as expressly provided in the Trust Agreement, as Eligible Lender Trustee have any liability for the representations, warranties, covenants, agreements or other obligations of the Issuer or the Eligible Lender Trustee hereunder or in any of the certificates, notices or agreements delivered pursuant hereto as to all of which recourse shall be had solely to the assets of the Issuer. (b) B. Notwithstanding anything contained herein to the contrary, this Agreement has been executed and delivered signed by [____________________________________], not in its individual capacity but solely as Indenture Trustee, and in no event shall [____________________________________] have any liability for the representations, warranties, covenants, agreements or other obligations of the Issuer hereunder or in any of the certificates, notices or agreements delivered pursuant hereto, as to all of which recourse shall be had solely to the assets of the Issuer. (c) The rights of and protections of the Indenture Trustee and the Eligible Lender Trustee, as applicable, under the Indenture and the Trust Agreement, respectively, shall be incorporated as though explicitly set forth herein.

Appears in 1 contract

Samples: Master Servicing Agreement (Wachovia Education Loan Funding LLC)

Limitation of Liability of Eligible Lender Trustee and Indenture Trustee. (a) Notwithstanding anything contained herein to the contrary, this Agreement has been executed and delivered by [____________[ ], not in its individual capacity but solely in its capacity as Eligible Lender Trustee of the Issuer, and in no event shall [____________[ ], in its individual capacity have any liability for the representations, warranties, covenants, agreements or other obligations of the Issuer or the Eligible Lender Trustee hereunder or in any of the certificates, notices or agreements delivered pursuant hereto as to all of which recourse shall be had solely to the assets of the Issuer. (b) Notwithstanding anything contained herein to the contrary, this Agreement has been executed and delivered by [____________[ ], not in its individual capacity but solely as Indenture Trustee, and in no event shall [____________[ ] have any liability for the representations, warranties, covenants, agreements or other obligations of the Issuer hereunder or in any of the certificates, notices or agreements delivered pursuant hereto, as to all of which recourse shall be had solely to the assets of the Issuer. (c) The rights of and protections of the Indenture Trustee and the Eligible Lender Trustee, as applicable, under the Indenture and the Trust Agreement, respectively, shall be incorporated as though explicitly set forth herein.

Appears in 1 contract

Samples: Administration Agreement (SLM Funding LLC)

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