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

Limitation of Liability of 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 Trustee of the Issuing Entity, and in no event shall The Bank of New York, in its individual capacity or, except as expressly provided in the Trust Agreement, any beneficial owner of the Issuing Entity have any liability for the representations, warranties, covenants, agreements or other obligations of the Issuing Entity 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 Issuing Entity.

Appears in 3 contracts

Samples: Sale and Servicing Agreement (CNH Equipment Trust 2006-B), Sale and Servicing Agreement (CNH Capital Receivables LLC), Sale and Servicing Agreement (CNH Equipment Trust 2006-A)

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Limitation of Liability of Trustee and Indenture Trustee. (aA) Notwithstanding anything contained herein to the contrary, this Agreement has been countersigned signed by The Bank of New YorkYork Trust Company, N.A., not in its individual capacity but solely in its capacity as Trustee of the Issuing Entity, Issuer and in no event shall The Bank of New YorkYork Trust Company, N.A. in its individual capacity or, except as expressly provided in the Trust Agreement, any beneficial owner of the Issuing Entity as Trustee have any liability for the representations, warranties, covenants, agreements or other obligations of the Issuing Entity Issuer or the Trustee hereunder or in any of the certificates, notices or agreements delivered pursuant hereto, hereto as to all of which recourse shall be had solely to the assets of the Issuing EntityIssuer.

Appears in 1 contract

Samples: Servicing Agreement (SLM Private Credit Student Loan Trust 2007-A)

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