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

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

Appears in 34 contracts

Samples: Indenture (CarMax Auto Owner Trust 2024-2), Indenture (Carmax Auto Funding LLC), Indenture (CarMax Auto Owner Trust 2024-1)

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

Appears in 26 contracts

Samples: Indenture (CarMax Auto Owner Trust 2023-3), Indenture (CarMax Auto Owner Trust 2023-3), Indenture (Carmax Auto Funding LLC)

Limitation of Liability of the Owner Trustee. It is expressly understood and agreed by the parties hereto that (a) this Indenture is executed and delivered by Wilmington Trust, National Association[________], not individually or personally but solely as Owner Trustee of the Issuer, in the exercise of the powers and authority conferred and vested in it, (b) each of the representations, undertakings and agreements herein made on the part of the Issuer is made and intended not as personal representations, undertakings and agreements by Wilmington Trust, National Association [________] but is made and intended for the purpose of binding only the Issuer, (c) nothing herein contained shall be construed as creating any liability on Wilmington Trust, National Association[________], individually or personally, to perform any covenant either expressed or implied contained herein of the Issuer, all such liability, if any, being expressly waived by the parties hereto and by any Person claiming by, through or under the parties hereto, (d) Wilmington Trust, National Association [________] has not verified and made no investigation as to the accuracy or completeness of any representations and warranties made by the Issuer in this Indenture and (e) under no circumstances shall Wilmington Trust, National Association [________] be personally liable for the payment of any indebtedness or expenses of the Issuer or be liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken by the Issuer under this Indenture or any other related documents.

Appears in 2 contracts

Samples: Carmax Auto Funding LLC, Carmax Auto Funding LLC

Limitation of Liability of the Owner Trustee. It is expressly understood and agreed by the parties hereto that (ai) this Indenture Support Agreement is executed and delivered by Wilmington Trust, National Association, not individually or personally but solely as owner trustee (the “Owner Trustee Trustee”) of the Issuer, in the exercise of the powers and authority conferred and vested in it, (bii) each of the representations, undertakings and agreements herein made on the part of the Issuer is made and intended not as personal representations, undertakings and agreements by Wilmington Trust, National Association the Owner Trustee but is made and intended for the purpose of binding only the Issuer, (ciii) nothing herein contained shall be construed as creating any liability on Wilmington Trust, National Associationthe Owner Trustee, individually or personally, to perform any covenant covenants, either expressed or implied implied, contained herein of the Issuerherein, all such personal liability, if any, being expressly waived by the parties hereto and by any Person person claiming by, through or under the parties hereto, (d) Wilmington Trust, National Association has not verified and made no investigation as to the accuracy or completeness of any representations and warranties made by the Issuer in this Indenture and (eiv) under no circumstances shall Wilmington Trust, National Association the Owner Trustee be personally liable for the payment of any indebtedness or expenses of the Issuer or be liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken by the Issuer under this Indenture Support Agreement or any other related documentsdocument.

Appears in 2 contracts

Samples: Performance Support Agreement (OneMain Financial Holdings, Inc.), Performance Support Agreement (OneMain Financial Holdings, Inc.)

Limitation of Liability of the Owner Trustee. It is expressly understood and agreed by the parties hereto that (a) this Indenture is executed and delivered by Wilmington Trust, U.S. Bank Trust National Association, not individually or personally but solely as Owner Trustee of the Issuer, in the exercise of the powers and authority conferred and vested in it, (b) each of the representations, undertakings and agreements herein made on the part of the Issuer is made and intended not as personal representations, undertakings and agreements by Wilmington Trust, U.S. Bank Trust National Association but is made and intended for the purpose of binding only the Issuer, (c) nothing herein contained shall be construed as creating any liability on Wilmington Trust, U.S. Bank Trust National Association, individually or personally, to perform any covenant either expressed or implied contained herein of the Issuer, all such liability, if any, being expressly waived by the parties hereto and by any Person claiming by, through or under the parties hereto, (d) Wilmington Trust, U.S. Bank Trust National Association has not verified and made no investigation as to the accuracy or completeness of any representations and warranties made by the Issuer in this Indenture and (e) under no circumstances shall Wilmington Trust, U.S. Bank Trust National Association be personally liable for the payment of any indebtedness or expenses of the Issuer or be liable for the breach or failure of 73 any obligation, representation, warranty or covenant made or undertaken by the Issuer under this Indenture or any other related documents.

Appears in 2 contracts

Samples: Indenture (Carmax Auto Funding LLC), Indenture (Carmax Auto Funding LLC)

Limitation of Liability of the Owner Trustee. It is expressly understood and agreed by the parties hereto that (ai) this Indenture Agreement is executed and delivered on behalf of the Issuer by Wilmington Trust, National AssociationDeutsche Bank Trust Company Delaware, not individually or personally but solely as Owner Trustee (the “Owner Trustee”) of the Issuer, in the exercise of the powers and authority conferred and vested in it, (bii) each of the representations, undertakings and agreements herein made on the part of the Issuer is made and intended not as a personal representationsrepresentation, undertakings and agreements undertaking or agreement by Wilmington Trust, National Association the Owner Trustee but is made and intended for the purpose of binding only, and is binding only on, the Issuer, (ciii) nothing herein contained shall will be construed as creating any liability on Wilmington Trust, National AssociationDeutsche Bank Trust Company Delaware, individually or personallypersonally or as Owner Trustee, to perform any covenant of the Issuer either expressed or implied contained herein of the Issuerherein, all such liability, if any, being expressly waived by the parties hereto to this Agreement and by any Person claiming by, through or under the parties heretothem, (div) Wilmington Trust, National Association Deutsche Bank Trust Company Delaware has not verified made no investigation and made will make no investigation as to the accuracy or completeness of any representations and warranties made by the Issuer in this Indenture Agreement or any related document and (ev) under no circumstances shall Wilmington Trust, National Association will Deutsche Bank Trust Company Delaware be personally liable for the payment of any indebtedness indebtedness, indemnities or expenses of the Issuer or be liable for the performance, breach or failure of any obligation, representation, warranty or covenant made or undertaken by the Issuer under this Indenture Agreement or any other related documents, as to all of which recourse shall be had solely to the assets of the Issuer.

Appears in 1 contract

Samples: Assignment and Assumption Agreement (Capital One Funding, LLC)

Limitation of Liability of the Owner Trustee. It is expressly understood and agreed by the parties hereto that (a) this Indenture is executed and delivered by Wilmington Trust, National AssociationTrust Company, not individually or personally but solely as Owner Trustee of the IssuerREMIC Trust under the REMIC Trust Agreement and the NIMS Trust under the NIMS Trust Agreement, in the exercise of the powers and authority conferred and vested in it, (b) each of the representations, undertakings and agreements herein made on the part of the Issuer related Trust is made and intended not as personal representations, undertakings and agreements by Wilmington Trust, National Association Trust Company but is made and intended for the purpose of for binding only the Issuerrelated Trust, (c) nothing herein contained shall be construed as creating any liability on Wilmington Trust, National Association, Trust Company individually or personally, personally to perform any covenant either expressed or implied contained herein of the Issuerherein, all such liability, if any, being expressly waived by the parties hereto to this Indenture and by any Person person claiming by, through or under the parties hereto, them and (d) Wilmington Trust, National Association has not verified and made no investigation as to the accuracy or completeness of any representations and warranties made by the Issuer in this Indenture and (e) under no circumstances shall Wilmington Trust, National Association Trust Company be personally liable for the payment of any indebtedness or expenses of the Issuer related Trust or be liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken undertaking by the Issuer Trust under this Indenture or any other related documents.

Appears in 1 contract

Samples: Sale and Servicing Agreement (Morgan Stanley Abs Capital I Inc)

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Limitation of Liability of the Owner Trustee. It is expressly understood and agreed by the parties hereto that (ai) this Indenture Support Agreement is executed and delivered by Wilmington Trust, National Association, not individually or personally but solely as owner trustee (the “Owner Trustee Trustee”) of the Issuer, in the exercise of the powers and authority conferred and vested in it, (bii) each of the representations, undertakings and agreements herein made on the part of the Issuer is made and intended not as personal representations, undertakings and agreements by Wilmington Trust, National Association the Owner Trustee but is made and intended for the purpose of binding only the Issuer, (ciii) nothing herein contained shall be construed as creating any liability on Wilmington Trust, National Associationthe Owner Trustee, individually or personally, to perform any covenant covenants, either expressed or implied implied, contained herein of the Issuerherein, all such personal liability, if any, being expressly waived by the parties hereto and by any Person person claiming by, through or under the parties hereto, (div) Wilmington Trust, National Association the Owner Trustee has not verified and made no investigation as to the accuracy or completeness of any representations and warranties made by the Issuer in this Indenture Agreement and (ev) under no circumstances shall Wilmington Trust, National Association the Owner Trustee be personally liable for the payment of any indebtedness or expenses of the Issuer or be liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken by the Issuer under this Indenture Support Agreement or any other related documents.document. EXECUTED VERSION

Appears in 1 contract

Samples: Performance Support Agreement (OneMain Financial Holdings, Inc.)

Limitation of Liability of the Owner Trustee. It is expressly understood and agreed by the parties hereto that (a) this Indenture document is executed and delivered on behalf of the Issuer by Wilmington Trust, National Association[ ], not individually or personally personally, but solely in its capacity as Owner Trustee of the IssuerTrustee, in the exercise of the powers and authority conferred and vested in itit under the trust agreement of the Issuer, (b) each of the representations, warranties, undertakings and agreements herein made on the part of the Issuer is made and intended not as personal representations, warranties, undertakings and agreements by Wilmington Trust, National Association [ ] but is made and intended for the purpose of for binding only, and is binding only on the Issuer, (c) nothing herein contained shall be construed as creating any liability on Wilmington Trust, National Association[ ], individually or personallypersonally or as Owner Trustee, to perform any covenant or obligation either expressed or implied contained herein of the Issuer, all such liability, if any, being expressly waived by the parties hereto and by any Person person claiming by, through or under the parties hereto, (d) Wilmington Trust, National Association [ ] has not verified made no and made will make no investigation as to the accuracy or completeness of any representations and or warranties made by the Issuer in this Indenture Agreement and (e) under no circumstances shall Wilmington Trust[ ], National Association be personally liable for the payment of any indebtedness indebtedness, indemnity obligations or expenses of the Issuer or be liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken by the Issuer under this Indenture Agreement or any other related documents., as to all of which recourse shall be limited to the assets of the Issuer. [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

Appears in 1 contract

Samples: Securities Account Control Agreement (Porsche Auto Funding LLC)

Limitation of Liability of the Owner Trustee. It is expressly understood and agreed by the parties hereto that (ai) this Indenture Support Agreement is executed and delivered by Wilmington Trust, National Association, not individually or personally but solely as owner trustee (the “Owner Trustee Trustee”) of the Issuer, in the exercise of the powers and authority conferred and vested in it, (bii) each of the representations, undertakings and agreements herein made on the part of the Issuer is made and intended not as personal representations, undertakings and agreements by Wilmington Trust, National Association the Owner Trustee but is made and intended for the purpose of binding only the Issuer, (ciii) nothing herein contained shall be construed as creating any liability on Wilmington Trust, National Associationthe Owner Trustee, individually or personally, to perform any covenant covenants, either expressed or implied implied, contained herein of the Issuerherein, all such personal liability, if any, being expressly waived by the parties hereto and by any Person person claiming by, through or under the parties hereto, (div) Wilmington Trust, National Association the Owner Trustee has not verified and made no investigation as to the accuracy or completeness of any representations and warranties made by the Issuer in this Indenture Agreement, and (ev) under no circumstances shall Wilmington Trust, National Association the Owner Trustee be personally liable for the payment of any indebtedness or expenses of the Issuer or be liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken by the Issuer under this Indenture Support Agreement or any other related documents.document. EXECUTION VERSION

Appears in 1 contract

Samples: Performance Support Agreement (OneMain Financial Holdings, Inc.)

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