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, except as provided in subsection (c) of this section, this instrument has been countersigned by Bank One National Association not in its individual capacity but solely in its capacity as Eligible Lender Trustee of the Issuer and subject to the succeeding paragraph, in no event shall Bank One National Association, in its individual capacity, Bankers Trust Company or any Owner of the Issuer have any liability for the representations, warranties, covenants, agreements or other obligations of the Issuer hereunder, as to all of which recourse shall be had solely to the assets of the Issuer that are free of the lien of the Indenture. For all purposes of this Agreement, in the performance of any duties or obligations of the Issuer hereunder, the Eligible Lender 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.

Appears in 4 contracts

Samples: Administration Agreement (Keycorp Student Loan Trust 2000-A), Execution Copy (Keycorp Student Loan Trust 2002-A), Administration Agreement (Keycorp Student Loan Trust 2000-B)

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Limitation of Liability of Eligible Lender Trustee and Indenture Trustee. (a) Notwithstanding anything contained herein to the contrary, except as provided in subsection (c) of this section, this instrument has been countersigned by Bank One One, National Association not in its individual capacity but solely in its capacity as Eligible Lender Trustee of the Issuer and subject to the succeeding paragraph, in no event shall Bank One One, National Association, in its individual capacity, Bankers Deutsche Bank Trust Company Americas or any Owner of the Issuer have any liability for the representations, warranties, covenants, agreements or other obligations of the Issuer hereunder, as to all of which recourse shall be had solely to the assets of the Issuer that are free of the lien of the Indenture. For all purposes of this Agreement, in the performance of any duties or obligations of the Issuer hereunder, the Eligible Lender 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. In addition to the foregoing, the Indenture Trustee shall be entitled to the same rights, protections and immunities afforded to it under the Indenture as if specifically set forth herein.

Appears in 1 contract

Samples: Administration Agreement (Keycorp Student Loan Trust 2004-A)

Limitation of Liability of Eligible Lender Trustee and Indenture Trustee. (a) Notwithstanding anything contained herein to the contrary, except as provided in subsection (c) of this section, this instrument has been countersigned by Bank One National Association not in its individual capacity but solely in its capacity as Eligible Lender Trustee of the Issuer and subject to the succeeding paragraph, in no event shall Bank One National Association, in its individual capacity, Bankers Trust Company JPMorgan Chase Bank or any Owner of the Issuer have any liability for the representations, warranties, covenants, agreements or other obligations of the Issuer hereunder, as to all of which recourse shall be had solely to the assets of the Issuer that are free of the lien of the Indenture. For all purposes of this Agreement, in the performance of any duties or obligations of the Issuer hereunder, the Eligible Lender 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. In addition to the foregoing, the Indenture Trustee shall be entitled to the same rights, protections and immunities afforded to it under the Indenture as if specifically set forth herein.

Appears in 1 contract

Samples: Execution Copy (Keycorp Student Loan Trust 2003-A)

Limitation of Liability of Eligible Lender Trustee and Indenture Trustee. (a) Notwithstanding anything contained herein to the contrary, except as provided in subsection (c) of this section, this instrument has been countersigned by Bank One National Association not in its individual capacity but solely in its capacity as Eligible Lender Trustee of the Issuer and subject to the succeeding paragraph, in no event shall Bank One National Association, in its individual capacity, Bankers Trust Company or any Owner of the Issuer have any liability for the representations, warranties, covenants, agreements or other obligations of the Issuer hereunder, as to all of which recourse shall be had solely to the assets of the Issuer that are free of the lien of the IndentureIssuer. For all purposes of this Agreement, in the performance of any duties or obligations of the Issuer hereunder, the Eligible Lender 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.

Appears in 1 contract

Samples: Execution Copy (Key Bank Usa National Association)

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Limitation of Liability of Eligible Lender Trustee and Indenture Trustee. (a) Notwithstanding anything contained herein to the contrary, except as provided in subsection (c) of this section, this instrument has been countersigned by Bank One National Association [ ] not in its individual capacity but solely in its capacity as Eligible Lender Trustee of the Issuer and subject to the succeeding paragraph, in no event shall Bank One National Association[ ], in its individual capacity, Bankers Trust Company [ ] or any Owner of the Issuer have any liability for the representations, warranties, covenants, agreements or other obligations of the Issuer hereunder, as to all of which recourse shall be had solely to the assets of the Issuer that are free of the lien of the Indenture. For all purposes of this Agreement, in the performance of any duties or obligations of the Issuer hereunder, the Eligible Lender 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. In addition to the foregoing, the Indenture Trustee shall be entitled to the same rights, protections and immunities afforded to it under the Indenture as if specifically set forth herein.

Appears in 1 contract

Samples: Administration Agreement (Key Bank Usa National Association)

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