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

Limitation of Liability of the Trustee. Notwithstanding anything contained herein to the contrary, this instrument has been countersigned by The Bank of New York (Delaware), not in its individual capacity but solely in its capacity as Trustee of the Trust, and in no event shall The Bank of New York (Delaware), in its individual capacity, or any beneficial owner of the Trust have any liability for the representations, warranties, covenants, agreements or other obligations of the Trust hereunder, as to all of which recourse shall be had solely to the assets of the Trust. For all purposes of this Agreement, in the performance of any duties or obligations of the Trust thereunder, the Trustee shall be subject to, and entitled to the benefits of, the terms and provisions of Article VII of the Trust Agreement.

Appears in 2 contracts

Samples: Administration Agreement (GE Capital Credit Card Master Note Trust), Administration Agreement (CDF Funding, Inc.)

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Limitation of Liability of the Trustee. Notwithstanding anything contained herein to the contrary, this instrument has been countersigned by The Bank of New York (Delaware), not in its individual capacity but solely in its capacity as Trustee of the Trust, and in no event shall The Bank of New York (Delaware), in its individual capacity, or any beneficial owner of the Trust have any liability for the representations, warranties, covenants, agreements or other obligations of the Trust hereunder, as to all of which recourse shall be had solely to the assets of the Trust. For all purposes of this Agreement, in the performance of any duties or obligations of the Trust thereunder, the Trustee shall be subject to, and entitled to the benefits of, the terms and provisions of Article VII of the Trust Agreement.

Appears in 2 contracts

Samples: Administration Agreement (CDF Funding, Inc.), Administration Agreement (CDF Funding, Inc.)

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Limitation of Liability of the Trustee. Notwithstanding anything contained herein to the contrary, this instrument has been countersigned by The Bank of New York (Delaware), not in its individual capacity but solely in its capacity as Trustee of the TrustBuyer, and in no event shall The Bank of New York (Delaware), in its individual capacity, or any beneficial owner of the Trust Buyer have any liability for the representations, warranties, covenants, agreements or other obligations of the Trust Buyer hereunder, as to all of which recourse shall be had solely to the assets of the TrustBuyer. For all purposes of this Agreement, in the performance of any duties or obligations of the Trust Buyer thereunder, the Trustee shall be subject to, and entitled to the benefits of, the terms and provisions of Article VII VIII of the Trust Agreement.

Appears in 1 contract

Samples: Transfer Agreement (GE Capital Credit Card Master Note Trust)

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