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

Limitation of Liability of Owner Trustee. Notwithstanding anything contained herein to the contrary, this Agreement has been countersigned by U.S. Bank Trust National Association, not in its individual capacity but solely in its capacity as Owner Trustee of the Issuer and in no event shall U.S. Bank Trust National Association, in its individual capacity or, except as expressly provided in the Trust Agreement, as 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 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 Six, Seven and Eight of the Trust Agreement as if specifically set forth herein.

Appears in 10 contracts

Samples: Control Agreement (Honda Auto Receivables 2015-4 Owner Trust), Control Agreement (Honda Auto Receivables 2015-4 Owner Trust), Control Agreement (Honda Auto Receivables 2014-4 Owner Trust)

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Limitation of Liability of Owner Trustee. Notwithstanding anything contained herein to the contrary, this Agreement instrument has been countersigned signed by U.S. Bank Trust Wilmington Trust, National Association, Association not in its individual capacity but solely in its capacity as Owner Trustee of the Issuer and in no event shall U.S. Bank Trust Wilmington Trust, National Association, Association in its individual capacity or, except as expressly provided in the Trust Agreement, as 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 in the Indenture. 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 Six, Seven and Eight of the Trust Agreement as if specifically set forth hereinAgreement.

Appears in 8 contracts

Samples: Certificate Transfer Agreement (BMW Auto Leasing LLC), Certificate Transfer Agreement (BMW Auto Leasing LLC), Certificate Transfer Agreement (BMW Vehicle Lease Trust 2012-1)

Limitation of Liability of Owner Trustee. Notwithstanding anything contained herein to the contrary, this Agreement instrument has been countersigned signed by U.S. Bank Wilmington Trust National Association, Company not in its individual capacity but solely in its capacity as Owner Trustee of the Issuer and in no event shall U.S. Bank Wilmington Trust National Association, Company in its individual capacity or, except as expressly provided in the Trust Agreement, as 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 Six, Seven and Eight of the Trust Agreement as if specifically set forth hereinAgreement.

Appears in 7 contracts

Samples: Certificate Transfer Agreement (BMW Vehicle Lease Trust 2011-1), Certificate Transfer Agreement (BMW Vehicle Lease Trust 2011-1), Certificate Transfer Agreement (BMW Vehicle Lease Trust 2010-1)

Limitation of Liability of Owner Trustee. Notwithstanding anything contained herein to the contrary, this Agreement has been countersigned by U.S. Bank Trust National AssociationCitibank, N.A., not in its individual capacity but solely in its capacity as Owner Trustee of the Issuer and in no event shall U.S. Bank Trust National AssociationCitibank, N.A., in its individual capacity or, except as expressly provided in the Trust Agreement, as 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 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 Six, Seven and Eight of the Trust Agreement as if specifically set forth herein.

Appears in 6 contracts

Samples: Control Agreement (Honda Auto Receivables 2015-1 Owner Trust), Control Agreement (Honda Auto Receivables 2015-1 Owner Trust), Control Agreement (Honda Auto Receivables 2009-2 Owner Trust)

Limitation of Liability of Owner Trustee. Notwithstanding anything contained herein to the contrary, this Agreement has been countersigned by U.S. The Bank Trust National Associationof New York Mellon, not in its individual capacity but solely in its capacity as Owner Trustee of the Issuer and in no event shall U.S. The Bank Trust National Associationof New York Mellon, in its individual capacity or, except as expressly provided in the Trust Agreement, as 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 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 Six, Seven and Eight of the Trust Agreement as if specifically set forth herein.

Appears in 6 contracts

Samples: Control Agreement (Honda Auto Receivables 2014-3 Owner Trust), Control Agreement (Honda Auto Receivables 2014-3 Owner Trust), Control Agreement (Honda Auto Receivables 2014-2 Owner Trust)

Limitation of Liability of Owner Trustee. Notwithstanding anything contained herein to the contrary, this Agreement has been countersigned by U.S. Bank Trust National AssociationUnion Bank, N.A., not in its individual capacity but solely in its capacity as Owner Trustee of the Issuer and in no event shall U.S. Bank Trust National AssociationUnion Bank, N.A., in its individual capacity or, except as expressly provided in the Trust Agreement, as 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 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 Six, Seven and Eight of the Trust Agreement as if specifically set forth herein.

Appears in 5 contracts

Samples: Control Agreement (Honda Auto Receivables 2014-1 Owner Trust), Control Agreement (Honda Auto Receivables 2014-1 Owner Trust), Control Agreement (Honda Auto Receivables 2012-4 Owner Trust)

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Limitation of Liability of Owner Trustee. Notwithstanding anything contained herein to the contrary, this Agreement has been countersigned by U.S. the Bank Trust National Associationof New York Mellon, not in its individual capacity but solely in its capacity as Owner Trustee of the Issuer and in no event shall U.S. the Bank Trust National Associationof New York Mellon, in its individual capacity or, except as expressly provided in the Trust Agreement, as 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 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 Six, Seven and Eight of the Trust Agreement as if specifically set forth herein.

Appears in 2 contracts

Samples: Control Agreement (Honda Auto Receivables 2015-3 Owner Trust), Control Agreement (Honda Auto Receivables 2015-3 Owner Trust)

Limitation of Liability of Owner Trustee. Notwithstanding anything contained herein to the contrary, this Agreement has been countersigned by U.S. Bank Trust National AssociationMUFG Union Bank, N.A., not in its individual capacity but solely in its capacity as Owner Trustee of the Issuer and in no event shall U.S. Bank Trust National AssociationMUFG Union Bank, N.A., in its individual capacity or, except as expressly provided in the Trust Agreement, as 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 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 Six, Seven and Eight of the Trust Agreement as if specifically set forth herein.

Appears in 2 contracts

Samples: Control Agreement (Honda Auto Receivables 2015-2 Owner Trust), Control Agreement (Honda Auto Receivables 2015-2 Owner Trust)

Limitation of Liability of Owner Trustee. Notwithstanding anything contained herein to the contrary, this Agreement has been countersigned by U.S. Chase Bank Trust USA, National Association, not in its individual capacity but solely in its capacity as Owner Trustee of the Issuer and in no event shall U.S. Chase Bank Trust USA, National Association, in its individual capacity or, except as expressly provided in the Trust Agreement, as 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 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 Six, Seven and Eight of the Trust Agreement as if specifically set forth herein.

Appears in 1 contract

Samples: Control Agreement (Honda Auto Receivables 2005-3 Owner Trust)

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