Limitation of Liability of Owner Trustee and Indenture. Trustee. (a) Notwithstanding anything contained herein to the contrary, this ------- Agreement has been countersigned by The Bank of New York not in its individual capacity but solely in its capacity as Owner Trustee of the Issuer and in no event shall The Bank of New York in its individual capacity or, except as expressly provided in the Trust Agreement, as beneficial owner of the Issuer 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. 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 Issuer 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. (b) Notwithstanding anything contained herein to the contrary, this Agreement has been accepted by The Chase Manhattan Bank, not in its individual capacity but solely as Indenture Trustee and in no event shall The Chase Manhattan Bank 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.
Appears in 1 contract
Samples: Sale and Servicing Agreement (World Omni Auto Receivables LLC)
Limitation of Liability of Owner Trustee and Indenture. Trustee.. -------
(a) Notwithstanding anything contained herein to the contrary, this ------- Agreement has been countersigned by The Bank of New York the Owner Trustee not in its individual capacity but solely in its capacity as Owner Trustee of the Issuer and in no event shall The Bank of New York the Owner Trustee in its individual capacity or, except as expressly provided in the Trust Agreement, as beneficial owner of the Issuer 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. 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 Issuer hereunder, the Owner Trustee shall be subject to, and entitled to the benefits of, the terms and provisions of Articles VISix, VII Seven and VIII Eight of the Trust Agreement.
(b) Notwithstanding anything contained herein to the contrary, this Agreement has been accepted by The Chase Manhattan Bankthe Indenture Trustee, not in its individual capacity but solely as Indenture Trustee and in no event shall The Chase Manhattan Bank the Indenture Trustee 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.
Appears in 1 contract
Samples: Sale and Servicing Agreement (Pooled Auto Securities Shelf LLC)
Limitation of Liability of Owner Trustee and Indenture. Trustee.. -------
(a) Notwithstanding anything contained herein to the contrary, this ------- Agreement has been countersigned by The Norwest Bank of New York Minnesota, National Association, not in its individual capacity but solely in its capacity as Owner Trustee of the Issuer and in no event shall The Norwest Bank of New York Minnesota, National Association, in its individual capacity or, except as expressly provided in the Trust Agreement, as beneficial owner of the Issuer 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. 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 Issuer 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.
(b) Notwithstanding anything contained herein to the contrary, this Agreement has been accepted by The Chase Manhattan Bank, not in its individual capacity but solely as Indenture Trustee and in no event shall The Chase Manhattan Bank 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.
Appears in 1 contract
Samples: Transfer and Servicing Agreement (Deutsche Recreational Asset Funding Corp)
Limitation of Liability of Owner Trustee and Indenture. Trustee.. -------
(a) Notwithstanding anything contained herein to the contrary, this ------- Agreement has been countersigned by The Bank of New York Wilmington Trust Company not in its individual capacity but solely in its capacity as Owner Trustee of the Issuer and in no event shall The Bank of New York Wilmington Trust Company in its individual capacity or, except as expressly provided in the Trust Agreement, as beneficial owner Owner Trustee of the Issuer 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 IssuerIssuer in accordance with the priorities set forth herein. 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 Issuer 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.
(b) Notwithstanding anything contained herein to the contrary, this Agreement has been accepted by The Chase Manhattan Bank, not in its individual capacity but solely as Indenture Trustee Trustee, and in no event shall The Chase Manhattan Bank 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 IssuerIssuer in accordance with the priorities set forth herein.
Appears in 1 contract
Samples: Sale and Servicing Agreement (SSB Vehicle Securities Inc)
Limitation of Liability of Owner Trustee and Indenture. Trustee.. -------
(a) Notwithstanding anything contained herein to the contrary, this ------- Agreement instrument has been countersigned executed by The Bank of New York York, not in its individual capacity but solely in its capacity as Owner Trustee of the Issuer and in no event shall The Bank of New York in its individual capacity or, except as expressly provided in the Trust Agreement, as beneficial owner of the Issuer 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. 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 Issuer hereunder, the Owner Trustee shall be subject to, and entitled to the benefits of, the terms and provisions of Articles VI, VII and VIII Article VI of the Trust Agreement.
(b) Notwithstanding anything contained herein to the contrary, this Agreement has been accepted executed by The Chase Manhattan BankBank One, National Association, not in its individual capacity but solely in its capacity as Indenture Trustee and in no event shall The Chase Manhattan Bank One, National Association 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.
Appears in 1 contract
Samples: Administration Agreement (Volkswagen Dealer Finance LLC)