Common use of Limitation of Liability of Owner Trustee and Indenture Trustee Clause in Contracts

Limitation of Liability of Owner Trustee and Indenture Trustee. (a) It is expressly understood and agreed by the parties hereto that (i) this Agreement is executed and delivered by the Trustee Bank, not individually or personally but solely as Owner Trustee, in the exercise of the powers and authority conferred and vested in it under the Trust Agreement, (ii) each of the representations, undertakings and agreements herein made on the part of the Issuing Entity is made and intended not as personal representations, undertakings and agreements by the Trustee Bank, but is made and intended for the purpose of binding only the Issuing Entity, (iii) nothing herein contained shall be construed as creating any liability on the Trustee Bank, individually or personally, to perform any covenant of the Issuing Entity, either expressed or implied, contained herein, all such liability of the Trustee Bank in its individual or personal capacity, if any, being expressly waived by the parties hereto and by any person claiming by, through or under the parties hereto, (iv) the Trustee Bank has made no investigation into the accuracy or completeness of any representations or warranties made by the Issuing Entity in this Agreement, and (v) under no circumstances shall the Trustee Bank be personally liable for the payment of any indebtedness or expenses of the Issuing Entity under this Agreement or any other related documents.

Appears in 66 contracts

Samples: Sale and Servicing Agreement (World Omni Select Auto Trust 2024-A), Sale and Servicing Agreement (World Omni Auto Receivables Trust 2024-B), Sale and Servicing Agreement (World Omni Auto Receivables Trust 2024-B)

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Limitation of Liability of Owner Trustee and Indenture Trustee. (a) It is expressly understood and agreed by the parties hereto that (i) this Agreement is executed and delivered by the Trustee Bank, not individually or personally but solely as Owner Trustee, in the exercise of the powers and authority conferred and vested in it under the Trust Agreement, (ii) each of the representations, undertakings and agreements herein made on the part of the Issuing Entity is made and intended not as personal representations, undertakings and agreements by the Trustee Bank, but is made and intended for the purpose of binding only the Issuing Entity, (iii) nothing herein contained shall be construed as creating any liability on the Trustee Bank, individually or personally, to perform any covenant of the Issuing Entity, either expressed or implied, contained herein, all such liability of the Trustee Bank in its individual or personal capacity, if any, being expressly waived by the parties hereto and by any person Person claiming by, through or under the parties hereto, (iv) the Trustee Bank has made no investigation into the accuracy or completeness of any representations or warranties made by the Issuing Entity in this Agreement, Agreement and (v) under no circumstances shall the Trustee Bank be personally liable for the payment of any indebtedness or expenses of the Issuing Entity under this Agreement or any other related documents.

Appears in 65 contracts

Samples: Administration Agreement (World Omni Select Auto Trust 2024-A), Administration Agreement (World Omni Auto Receivables Trust 2024-B), Administration Agreement (World Omni Auto Receivables Trust 2024-B)

Limitation of Liability of Owner Trustee and Indenture Trustee. (a) It is expressly understood and agreed by the parties hereto that (i) this Agreement is executed and delivered by the Trustee BankWilmington Trust Company, not individually or personally but solely in its capacity as Owner TrusteeTrustee of the Issuer, in the exercise of the powers and authority conferred and vested in it under the Trust Agreement, (ii) each of the representations, undertakings and agreements herein made on the part of the Issuing Entity is Issuer are made and intended not as personal representations, undertakings and agreements by the Trustee Bank, Wilmington Trust Company but is made and intended for the purpose of for binding only the Issuing EntityIssuer, (iii) nothing herein contained shall be construed as creating any liability on the Trustee BankWilmington Trust Company, individually or personally, to perform any covenant of the Issuing Entity, either expressed express or implied, implied contained herein, all such liability of the Trustee Bank in its individual or personal capacityliability, if any, being expressly waived by the parties hereto and by any person Person claiming by, through or under the parties hereto, (iv) the Trustee Bank Wilmington Trust Company has made no investigation into as to the accuracy or completeness of any representations or and warranties made by the Issuing Entity Issuer in this Agreement, and (v) under no circumstances shall the Trustee Bank Wilmington Trust Company be personally liable for the payment of any indebtedness or expenses of the Issuing Entity Issuer or be liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken by the Issuer under this Agreement or any the other related documents.

Appears in 44 contracts

Samples: Administration Agreement (GM Financial Automobile Leasing Trust 2021-3), Administration Agreement (GM Financial Automobile Leasing Trust 2021-3), Administration Agreement (GM Financial Automobile Leasing Trust 2021-2)

Limitation of Liability of Owner Trustee and Indenture Trustee. (a) It is expressly understood and agreed by the parties hereto that (ia) this Agreement is executed and delivered by the Trustee BankWilmington Trust, National Association, not individually or personally but solely as Owner TrusteeTrustee of the Trust, in the exercise of the powers and authority conferred and vested in it under the Trust Agreementit, (iib) each of the representations, undertakings and agreements herein made on the part of the Issuing Entity Trust is made and intended not as personal representations, undertakings and agreements by the Trustee BankWilmington Trust, National Association but is made and intended for the purpose of binding only the Issuing EntityTrust, (iiic) nothing herein contained shall be construed as creating any liability on the Trustee BankWilmington Trust, National Association, individually or personally, to perform any covenant of the Issuing Entity, either expressed or implied, implied contained hereinherein of the Trust, all such liability of the Trustee Bank in its individual or personal capacityliability, if any, being expressly waived by the parties hereto and by any person Person claiming by, through or under the parties hereto, (ivd) the Trustee Bank Wilmington Trust, National Association has not verified and made no investigation into as to the accuracy or completeness of any representations or and warranties made by the Issuing Entity Trust in this Agreement, Agreement and (ve) under no circumstances shall the Trustee Bank Wilmington Trust, National Association be personally liable for the payment of any indebtedness or expenses of the Issuing Entity Trust or be liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken by the Trust under this Agreement or any other related documents.

Appears in 36 contracts

Samples: Sale and Servicing Agreement (Carmax Auto Funding LLC), Sale and Servicing Agreement (Carmax Auto Funding LLC), Sale and Servicing Agreement (CarMax Auto Owner Trust 2024-2)

Limitation of Liability of Owner Trustee and Indenture Trustee. (a) It is expressly understood and agreed by the parties hereto that (ia) this Agreement is executed and delivered by the Trustee BankWilmington Trust, National Association, not individually or personally but solely as Owner TrusteeTrustee of the Issuer, in the exercise of the powers and authority conferred and vested in it under the Trust Agreementit, (iib) each of the representations, undertakings and agreements herein made on the part of the Issuing Entity Issuer is made and intended not as personal representations, undertakings and agreements by the Trustee BankWilmington Trust, National Association but is made and intended for the purpose of binding only the Issuing EntityIssuer, (iiic) nothing herein contained shall be construed as creating any liability on the Trustee BankWilmington Trust, National Association, individually or personally, to perform any covenant of the Issuing Entity, either expressed or implied, implied contained hereinherein of the Issuer, all such liability of the Trustee Bank in its individual or personal capacityliability, if any, being expressly waived by the parties hereto and by any person Person claiming by, through or under the parties hereto, (ivd) the Trustee Bank Wilmington Trust, National Association has not verified and made no investigation into as to the accuracy or completeness of any representations or and warranties made by the Issuing Entity Issuer in this Agreement, Agreement and (ve) under no circumstances shall the Trustee Bank Wilmington Trust, National Association be personally liable for the payment of any indebtedness or expenses of the Issuing Entity Issuer or be liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken by the Issuer under this Agreement or any other related documents.

Appears in 36 contracts

Samples: Administration Agreement (Carmax Auto Funding LLC), Administration Agreement (Carmax Auto Funding LLC), Administration Agreement (CarMax Auto Owner Trust 2024-2)

Limitation of Liability of Owner Trustee and Indenture Trustee. (a) It is expressly understood and agreed by the parties hereto that (i) this Agreement is executed and delivered by the Trustee BankOwner Trustee, not individually or personally but solely as Owner Trustee, in the exercise of the powers and authority conferred and vested in it under the Trust Agreementit, (ii) each of the representations, undertakings and agreements herein made on the part of the Issuing Entity Issuer is made and intended not as personal representations, undertakings and agreements by the Owner Trustee Bank, but is made and intended for the purpose of binding only the Issuing EntityIssuer, (iii) nothing herein contained shall be construed as creating any liability on the Trustee BankOwner Trustee, individually or personally, to perform any covenant of the Issuing Entity, either expressed or implied, implied contained herein, all such liability of the Trustee Bank in its individual or personal capacityliability, if any, being expressly waived by the parties hereto and by any person Person claiming by, through or under the parties hereto, (iv) the Owner Trustee Bank has not verified and has made no investigation into as to the accuracy or completeness of any representations or and warranties made by the Issuing Entity Issuer in this Agreement, Agreement and (v) under no circumstances shall the Owner Trustee Bank be personally liable for the payment of any indebtedness or expenses of the Issuing Entity Issuer or be liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken by the Issuer under this Agreement or any other related documents.

Appears in 26 contracts

Samples: Administration Agreement (Mercedes-Benz Auto Lease Trust 2023-A), Administration Agreement (Mercedes-Benz Auto Lease Trust 2023-A), Administration Agreement (Daimler Trust)

Limitation of Liability of Owner Trustee and Indenture Trustee. (a) It is expressly understood and agreed by the parties hereto that (i) this Agreement is executed and delivered by the Trustee Bank, not individually or personally but solely as Owner Trustee, in the exercise of the powers and authority conferred and vested in it under the Trust Agreement, (ii) each of the representations, undertakings and agreements herein made on the part of the Issuing Entity is made and intended not as personal representations, undertakings and agreements by the Trustee Bank, but is made and intended for the purpose of binding only the Issuing Entity, (iii) nothing herein contained shall be construed as creating any liability on the Trustee Bank, individually or personally, to perform any covenant of the Issuing Entity, either expressed or implied, contained herein, all such liability of the Trustee Bank in its individual or personal capacity, if any, being expressly waived by the parties hereto and by any person Person claiming by, through or under the parties hereto, hereto and (iv) the Trustee Bank has made no investigation into the accuracy or completeness of any representations or warranties made by the Issuing Entity in this Agreement, and (v) under no circumstances shall the Trustee Bank be personally liable for the payment of any indebtedness or expenses of the Issuing Entity under this Agreement or any other related documents. For all purposes of this Agreement, in the performance of its duties or obligations hereunder or in the performance of any duties or obligations of the Issuing Entity hereunder, the Owner 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 22 contracts

Samples: Administration Agreement (World Omni Auto Receivables Trust 2015-A), Administration Agreement (World Omni Auto Receivables LLC), Administration Agreement (World Omni Auto Receivables LLC)

Limitation of Liability of Owner Trustee and Indenture Trustee. (a) It is expressly understood and agreed by the parties hereto that (i) this Agreement is executed and delivered by the Trustee Bank, not individually or personally but solely as Owner Trustee, in the exercise of the powers and authority conferred and vested in it under the Trust Agreement, (ii) each of the representations, undertakings and agreements herein made on the part of the Issuing Entity is made and intended not as personal representations, undertakings and agreements by the Trustee Bank, but is made and intended for the purpose of binding only the Issuing Entity, (iii) nothing herein contained shall be construed as creating any liability on the Trustee Bank, individually or personally, to perform any covenant of the Issuing Entity, either expressed or implied, contained herein, all such liability of the Trustee Bank in its individual or personal capacity, if any, being expressly waived by the parties hereto and by any person claiming by, through or under the parties hereto, hereto and (iv) the Trustee Bank has made no investigation into the accuracy or completeness of any representations or warranties made by the Issuing Entity in this Agreement, and (v) under no circumstances shall the Trustee Bank be personally liable for the payment of any indebtedness or expenses of the Issuing Entity under this Agreement or any other related documents. For all purposes of this Agreement, in the performance of its duties or obligations hereunder or in the performance of any duties or obligations of the Issuing Entity hereunder, the Owner 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 and the Administration Agreement.

Appears in 22 contracts

Samples: Sale and Servicing Agreement (World Omni Auto Receivables LLC), Sale and Servicing Agreement (World Omni Auto Receivables LLC), Sale and Servicing Agreement (World Omni Auto Receivables LLC)

Limitation of Liability of Owner Trustee and Indenture Trustee. (a) It is expressly understood and agreed by the parties hereto that (ia) this Agreement is executed and delivered by the Trustee BankWilmington Trust Company, not individually or personally but solely as Owner Trusteetrustee of the Holding Trust, in the exercise of the powers and authority conferred and vested in it under the Trust Agreementit, (iib) each of the representations, covenants, undertakings and agreements herein made on the part of the Issuing Entity Holding Trust is made and intended not as personal representations, undertakings and agreements by the Trustee Bank, Wilmington Trust Company but is made and intended for the purpose of binding only the Issuing EntityHolding Trust, (iiic) nothing herein contained shall be construed as creating any liability on the Trustee BankWilmington Trust Company, individually or personally, to perform any covenant of the Issuing Entity, either expressed or implied, implied contained herein, all such liability of the Trustee Bank in its individual or personal capacityliability, if any, being expressly waived by the parties hereto and by any person Person claiming by, through or under the parties hereto, (ivd) the Trustee Bank Wilmington Trust Company has made no investigation into as to the accuracy or completeness of any representations or warranties made by the Issuing Entity Holding Trust or any other Person in this Agreement, Agreement and (ve) under no circumstances shall the Trustee Bank Wilmington Trust Company be personally liable for the payment of any indebtedness or expenses of the Issuing Entity Holding Trust or be liable for the breach or failure of any obligation, duty, representation, warranty or covenant made or undertaken by the Holding Trust under this Agreement or any other related documents.

Appears in 13 contracts

Samples: Sale and Servicing Agreement (Exeter Automobile Receivables Trust 2022-5), Sale and Servicing Agreement (Exeter Automobile Receivables Trust 2022-5), Sale and Servicing Agreement (Exeter Automobile Receivables Trust 2022-4)

Limitation of Liability of Owner Trustee and Indenture Trustee. (a) It is expressly understood and agreed by the parties hereto that (ia) this Agreement is executed and delivered by the Trustee Bank[Owner Trustee], not individually or personally but solely as Owner Trusteetrustee of the Issuer, in the exercise of the powers and authority conferred and vested in it under the Trust Agreementit, (iib) each of the representations, undertakings and agreements herein made on the part of the Issuing Entity Issuer is made and intended not as personal representations, undertakings and agreements by the Trustee Bank, [Owner Trustee] but is made and intended for the purpose of binding only the Issuing EntityIssuer, (iiic) nothing herein contained shall be construed as creating any liability on the Trustee Bank[Owner Trustee], individually or personally, to perform any covenant of the Issuing Entity, either expressed or implied, implied contained herein, all such liability of the Trustee Bank in its individual or personal capacityliability, if any, being expressly waived by the parties hereto and by any person Person claiming by, through or under the parties hereto, (ivd) the Trustee Bank [Owner Trustee] has made no investigation into as to the accuracy or completeness of any representations or warranties made by the Issuing Entity Issuer in this Agreement, Agreement and (ve) under no circumstances shall the Trustee Bank [Owner Trustee] be personally liable for the payment of any indebtedness or expenses of the Issuing Entity Issuer or be liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken by the Issuer under this Agreement or any other related documents.

Appears in 2 contracts

Samples: Sale and Servicing (Efcar, LLC), Sale and Servicing (Efcar, LLC)

Limitation of Liability of Owner Trustee and Indenture Trustee. (a) It is expressly understood and agreed by the parties hereto that (i) this Agreement is executed and delivered by the Trustee Bank, not individually or personally but solely as Owner Trustee, in the exercise of the powers and authority conferred and vested in it under the Trust Agreement, (ii) each of the representations, undertakings and agreements herein made on the part of the Issuing Entity is made and intended not as personal representations, undertakings and agreements by the Trustee Bank, but is made and intended for the purpose of binding only the Issuing Entity, (iii) nothing herein contained shall be construed as creating any liability on the Trustee Bank, individually or personally, to perform any covenant of the Issuing Entity, either expressed or implied, contained herein, all such liability of the Trustee Bank in its individual or personal capacity, if any, being expressly waived by the parties hereto and by any person claiming by, through or under the parties hereto, hereto and (iv) the Trustee Bank has made no investigation into the accuracy or completeness of any representations or warranties made by the Issuing Entity in this Agreement, and (v) under no circumstances shall the Trustee Bank be personally liable for the payment of any indebtedness or expenses of the Issuing Entity under this Agreement or any other related documents.. For all purposes of this Agreement, in the performance of its duties or obligations hereunder or in the performance of any duties or obligations of the Issuing Entity hereunder, the Owner 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 and the Administration Agreement. 42

Appears in 2 contracts

Samples: Sale and Servicing Agreement (World Omni Auto Receivables Trust 2015-A), Sale and Servicing Agreement (World Omni Auto Receivables LLC)

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Limitation of Liability of Owner Trustee and Indenture Trustee. (a) It is expressly understood and agreed by the parties hereto that (i) this Agreement is executed and delivered by the Trustee Bank, not individually or personally but solely as Owner Trustee, in the exercise of the powers and authority conferred and vested in it under the Trust Agreement, (ii) each of the representations, undertakings and agreements herein made on the part of the Issuing Entity is made and intended not as personal representations, undertakings and agreements by the Trustee Bank, but is made and intended for the purpose of binding only the Issuing Entity, (iii) nothing herein contained shall be construed as creating any liability on the Trustee Bank, individually or personally, to perform any covenant of the Issuing Entity, either expressed or implied, contained herein, all such liability of the Trustee Bank in its individual or personal capacity, if any, being expressly waived by the parties hereto and by any person Person claiming by, through or under the parties hereto, (iv) the Trustee Bank has made no investigation into the accuracy or completeness of any representations or warranties made by the Issuing Entity in this Agreement, and (v) under no circumstances shall the Trustee Bank be personally liable for the payment of any indebtedness or expenses of the Issuing Entity under this Agreement or any other related documents.

Appears in 2 contracts

Samples: Administration Agreement (World Omni Auto Receivables Trust 2015-B), Administration Agreement (World Omni Auto Receivables Trust 2015-B)

Limitation of Liability of Owner Trustee and Indenture Trustee. (a) It is expressly understood and agreed by the The parties hereto are put on notice and hereby acknowledge and agree that (ia) this Agreement is executed and delivered by the Trustee Bank[___], not individually or personally but solely as Owner TrusteeTrustee of the Issuer, in the exercise of the powers and authority conferred and vested in it under the Trust Agreementit, (iib) each of the representations, undertakings and agreements herein made on the part of the Issuing Entity Issuer is made and intended not as personal representations, undertakings and agreements by the Trustee Bank, [___]but is made and intended for the purpose of binding only the Issuing EntityIssuer, (iiic) nothing herein contained shall be construed as creating any liability on the Trustee Bank[___], individually or personally, to perform any covenant of the Issuing Entity, either expressed or implied, implied contained hereinherein of the Issuer, all such liability of the Trustee Bank in its individual or personal capacityliability, if any, being expressly waived by the parties hereto and by any person Person claiming by, through or under the parties hereto, (ivd) the Trustee Bank [___]has made no investigation into as to the accuracy or completeness of any representations or and warranties made by the Issuing Entity Issuer in this Agreement, Agreement and (ve) under no circumstances shall the Trustee Bank [___]be personally liable for the payment of any indebtedness or expenses of the Issuing Entity Issuer or be liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken by the Issuer under this Agreement or any other related documents.

Appears in 2 contracts

Samples: BMW Vehicle Lease Trust (Financial Services Vehicle Trust), BMW Vehicle Lease Trust (Financial Services Vehicle Trust)

Limitation of Liability of Owner Trustee and Indenture Trustee. (a) It is expressly understood and agreed by the parties hereto that (ia) this Agreement is executed and delivered by the Trustee Bank, not individually or personally but solely as Owner Trustee, in the exercise of the powers and authority conferred and vested in it under the Trust Agreement, (iib) each of the representations, undertakings and agreements herein made on the part of the Issuing Entity is made and intended not as personal representations, undertakings and agreements by the Trustee Bank, but is made and intended for the purpose of binding only the Issuing Entity, (iiic) nothing herein contained shall be construed as creating any liability on the Trustee Bank, individually or personally, to perform any covenant of the Issuing Entity, either expressed or implied, contained herein, all such liability of the Trustee Bank in its individual or personal capacity, if any, being expressly waived by the parties hereto and by any person claiming by, through or under the parties hereto, (iv) the Trustee Bank has made no investigation into the accuracy or completeness of any representations or warranties made by the Issuing Entity in this Agreement, hereto and (vd) under no circumstances shall the Trustee Bank be personally liable for the payment of any indebtedness or expenses of the Issuing Entity under this Agreement or any other related documents. For all purposes of this Agreement, in the performance of its duties or obligations hereunder or in the performance of any duties or obligations of the Issuing Entity hereunder, the Owner 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 and the Administration Agreement.

Appears in 2 contracts

Samples: Sale and Servicing Agreement (World Omni Auto Receivables Trust 2009-A), Sale and Servicing Agreement (World Omni Auto Receivables LLC)

Limitation of Liability of Owner Trustee and Indenture Trustee. (a) It is expressly understood and agreed by the parties hereto that (ia) this Agreement is executed and delivered by the Trustee Bank, not individually or personally but solely as Owner Trustee, in the exercise of the powers and authority conferred and vested in it under the Trust Agreement, (iib) each of the representations, undertakings and agreements herein made on the part of the Issuing Entity is made and intended not as personal representations, undertakings and agreements by the Trustee Bank, but is made and intended for the purpose of binding only the Issuing Entity, (iiic) nothing herein contained shall be construed as creating any liability on the Trustee Bank, individually or personally, to perform any covenant of the Issuing Entity, either expressed or implied, contained herein, all such liability of the Trustee Bank in its individual or personal capacity, if any, being expressly waived by the parties hereto and by any person claiming by, through or under the parties hereto, (iv) the Trustee Bank has made no investigation into the accuracy or completeness of any representations or warranties made by the Issuing Entity in this Agreement, hereto and (vd) under no circumstances shall the Trustee Bank be personally liable for the payment of any indebtedness or expenses of the Issuing Entity under this Agreement or any other related documents. For all purposes of this Agreement, in the performance of any duties or obligations of the Issuing Entity hereunder, the Owner 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 2 contracts

Samples: Administration Agreement (World Omni Auto Receivables LLC), Administration Agreement (World Omni Auto Receivables Trust 2009-A)

Limitation of Liability of Owner Trustee and Indenture Trustee. (a) It is expressly understood and agreed by the parties hereto that (ia) this Agreement is executed and delivered by the Trustee Bank[______], not individually or personally but solely as Owner TrusteeTrustee of the Trust, in the exercise of the powers and authority conferred and vested in it under the Trust Agreementit, (iib) each of the representations, undertakings and agreements herein made on the part of the Issuing Entity Trust is made and intended not as personal representations, undertakings and agreements by the Trustee Bank, [_____] but is made and intended for the purpose of binding only the Issuing EntityTrust, (iiic) nothing herein contained shall be construed as creating any liability on the Trustee Bank[______], individually or personally, to perform any covenant of the Issuing Entity, either expressed or implied, implied contained hereinherein of the Trust, all such liability of the Trustee Bank in its individual or personal capacityliability, if any, being expressly waived by the parties hereto and by any person Person claiming by, through or under the parties hereto, (ivd) the Trustee Bank [______] has not verified and made no investigation into as to the accuracy or completeness of any representations or and warranties made by the Issuing Entity Trust in this Agreement, Agreement and (ve) under no circumstances shall the Trustee Bank [________] be personally liable for the payment of any indebtedness or expenses of the Issuing Entity Trust or be liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken by the Trust under this Agreement or any other related documents.

Appears in 1 contract

Samples: Sale and Servicing Agreement (Carmax Auto Funding LLC)

Limitation of Liability of Owner Trustee and Indenture Trustee. (a) It is expressly understood and agreed by the parties hereto that (i) this Agreement is executed and delivered by the Trustee Bank[Owner Trustee], not individually or personally but solely in its capacity as Owner TrusteeTrustee of the Issuer, in the exercise of the powers and authority conferred and vested in it under the Trust Agreement, (ii) each of the representations, undertakings and agreements herein made on the part of the Issuing Entity is Issuer are made and intended not as personal representations, undertakings and agreements by the Trustee Bank, [Owner Trustee] but is made and intended for the purpose of for binding only the Issuing EntityIssuer, (iii) nothing herein contained shall be construed as creating any liability on the Trustee Bank[Owner Trustee], individually or personally, to perform any covenant of the Issuing Entity, either expressed express or implied, implied contained herein, all such liability of the Trustee Bank in its individual or personal capacityliability, if any, being expressly waived by the parties hereto and by any person Person claiming by, through or under the parties hereto, and (iv) the Trustee Bank has made no investigation into the accuracy or completeness of any representations or warranties made by the Issuing Entity in this Agreement, and (v) under no circumstances shall the Trustee Bank [Owner Trustee] be personally liable for the payment of any indebtedness or expenses of the Issuing Entity Issuer or be liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken by the Issuer under this Agreement or any the other related documents.

Appears in 1 contract

Samples: Administration Agreement (ACAR Leasing Ltd.)

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