Common use of Limitation of Liability of Trustees Clause in Contracts

Limitation of Liability of Trustees. (a) Notwithstanding anything contained herein to the contrary, this Agreement has been countersigned by Wilmington Trust not in its individual capacity but solely in its capacity as Owner Trustee of the Issuer, and in no event shall Wilmington Trust 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 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. (b) Notwithstanding anything contained herein to the contrary, this Agreement has been accepted by U.S. Bank, not in its individual capacity but solely as Indenture Trustee, and in no event shall U.S. 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 in accordance with the priorities set forth herein.

Appears in 6 contracts

Samples: Sale and Servicing Agreement (California Republic Auto Receivables Trust 2018-1), Sale and Servicing Agreement (California Republic Auto Receivables Trust 2016-2), Sale and Servicing Agreement (California Republic Auto Receivables Trust 2016-2)

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Limitation of Liability of Trustees. It is expressly understood and agreed by the parties hereto that (a) Notwithstanding anything contained herein to the contrary, this Agreement has been countersigned is executed and delivered by Wilmington Trust Company, not in its individual capacity individually or personally but solely as owner trustee of each Trust, in its capacity as Owner Trustee the exercise of the Issuerpowers and authority conferred and vested in it, (b) each of the representations, covenants, undertakings and agreements herein made on the part of such Trust is made and intended not as personal representations, covenants, undertakings and agreements by Wilmington Trust Company but is made and intended for the purpose of binding only such Trust, (c) nothing herein contained shall be construed as creating any liability on Wilmington Trust Company, individually or personally, to perform any covenant either expressed or implied contained herein, 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 Company has made no investigation as to the accuracy or completeness of any representations or warranties made by such Trust in this Agreement and (e) under no event circumstances shall Wilmington Trust in its individual capacity orCompany be personally liable for the payment of any indebtedness or expenses of such Trust or be liable for the breach or failure of any obligation, except duty (including fiduciary duty, if any), representation, warranty or covenant made or undertaken by such Trust under this Agreement or any other related documents. The Indenture Trustee has the same rights, protections and immunities hereunder as it has under the related Indentures as if such rights, protections and immunities were expressly provided in set forth herein mutatis mutandis, which shall survive the Trust Agreement, as Owner Trustee satisfaction and discharge 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 in accordance with the priorities set forth herein. For all purposes of related Indentures and 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. (b) Notwithstanding anything contained herein to the contrary, this Agreement has been accepted by U.S. Bank, not in its individual capacity but solely as Indenture Trustee, and in no event shall U.S. 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 in accordance with the priorities set forth herein.

Appears in 3 contracts

Samples: Capital Contribution Agreement (Exeter Automobile Receivables Trust 2022-2), Capital Contribution Agreement (Exeter Automobile Receivables Trust 2022-3), Capital Contribution Agreement (Exeter Automobile Receivables Trust 2022-1)

Limitation of Liability of Trustees. (a) Notwithstanding anything contained herein to the contrary, this Agreement has been countersigned by Wilmington Trust not in its individual capacity but solely in its capacity as Owner Trustee of the Issuer, and in no event shall Wilmington Trust 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 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. (b) Notwithstanding anything contained herein to the contrary, this Agreement has been accepted by U.S. Bank, not in its individual capacity but solely as Indenture Trustee, and in no event shall U.S. 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 in accordance with the priorities set forth herein. (c) The parties hereto acknowledge that in accordance with Section 326 of the Patriot Act, U.S. Bank and Mechanics Bank, like all financial institutions and in order to help fight the funding of terrorism and money laundering, are required to obtain, verify, and record information that identifies each person or legal entity that establishes a relationship or opens an account. The parties to this Agreement agree that they will provide U.S. Bank and Mechanics Bank, as the case may be, with such information as either may request in order for U.S. Bank and Mechanics Bank to satisfy the requirements of the Patriot Act.

Appears in 3 contracts

Samples: Sale and Servicing Agreement (California Republic Auto Receivables Trust 2018-1), Sale and Servicing Agreement (California Republic Auto Receivables Trust 2017-1), Sale and Servicing Agreement (California Republic Auto Receivables Trust 2017-1)

Limitation of Liability of Trustees. (a) Notwithstanding anything contained herein to the contrary, this Agreement has been countersigned by Wilmington Trust [ ] not in its individual capacity but solely in its capacity as Owner Trustee of the Issuer, and in no event shall Wilmington Trust [ ] 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 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. (b) Notwithstanding anything contained herein to the contrary, this Agreement has been accepted by U.S. Bank[ ], not in its individual capacity but solely as Indenture Trustee, and in no event shall U.S. 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 in accordance with the priorities set forth herein.

Appears in 3 contracts

Samples: Sale and Servicing Agreement (California Republic Funding LLC), Sale and Servicing Agreement (California Republic Funding LLC), Sale and Servicing Agreement (California Republic Funding LLC)

Limitation of Liability of Trustees. (a) Notwithstanding anything contained herein to the contrary, it is expressly understood and agreed by the parties hereto that (i) this Agreement has been countersigned is executed and delivered by Wilmington Trust Trust, National Association, not in its individual capacity individually or personally but solely in its capacity as Owner Trustee, in the exercise of the powers and authority conferred and vested in it, (ii) each of the representations, undertakings and agreements herein made on the part of the Issuer is made and intended not as a personal representation, undertaking or agreement by the Owner Trustee but is made and intended for the purpose of binding only the Issuer, (iii) nothing herein contained shall be construed as creating any liability on the Owner Trustee, individually or personally, to perform any covenant either expressed or implied contained herein, all such liability, if any, being expressly waived by the parties hereto and in no event shall Wilmington Trust in its individual capacity orby any Person claiming by, except as expressly provided in through or under the Trust Agreementparties hereto, as (iv) the Owner Trustee has not verified and has made no investigation as to the accuracy or completeness of any representations or warranties made by the Issuer, have any liability Issuer hereunder and (v) under no circumstances shall the Owner Trustee be personally liable for the representations, warranties, covenants, agreements payment of any indebtedness or other obligations expenses of the Issuer hereunder or in be liable for the breach or failure of any of the certificatesobligation, notices representation, warranty or agreements delivered pursuant hereto, as to all of which recourse shall be had solely to the assets of covenant made or undertaken by the Issuer in accordance with the priorities set forth hereinunder this Agreement or any other related documents. 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. (b) Notwithstanding anything contained herein to the contrary, this Agreement has been accepted executed by U.S. BankBank Trust Company, not National Association solely in its individual capacity but solely as Indenture TrusteeTrustee under the Indenture, and in no event shall U.S. Bank the Indenture Trustee in its individual capacity 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 in accordance with the priorities set forth hereinIssuer.

Appears in 2 contracts

Samples: Administration Agreement (Daimler Trucks Retail Trust 2024-1), Administration Agreement (Daimler Trucks Retail Trust 2024-1)

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Limitation of Liability of Trustees. (a) Notwithstanding anything contained herein to the contrary, this Agreement instrument has been countersigned by Wilmington Trust not in its individual capacity but solely in its capacity as Owner Trustee of the Issuer, Issuer and in no event shall Wilmington Trust the Owner Trustee in its individual capacity or, except as expressly provided in the Trust Agreement, as Owner Trustee or any beneficial owner of the Issuer, 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 heretohereunder, as to all of which recourse shall be had solely to the assets of the Issuer in accordance with the priorities set forth hereinIssuer. 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. (b) Notwithstanding anything contained herein to the contrary, this Agreement has been accepted executed by U.S. Bank, not in its individual capacity but solely as Indenture Trustee, Trustee under the Indenture and in no event shall U.S. Bank the Indenture Trustee in its individual capacity 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 in accordance with the priorities set forth hereinIssuer.

Appears in 1 contract

Samples: Administration Agreement (Pooled Auto Securities Shelf LLC)

Limitation of Liability of Trustees. (a) Notwithstanding anything contained herein to the contrary, this Agreement has been countersigned by Wilmington Trust [•] not in its individual capacity but solely in its capacity as Owner Trustee of the Issuer, and in no event shall Wilmington Trust [•] 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 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. (b) Notwithstanding anything contained herein to the contrary, this Agreement has been accepted by U.S. Bank[•], not in its individual capacity but solely as Indenture Trustee, and in no event shall U.S. 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 in accordance with the priorities set forth herein. (c) The parties hereto acknowledge that in accordance with Section 326 of the Patriot Act, [•] and Mechanics Bank, like all financial institutions and in order to help fight the funding of terrorism and money laundering, are required to obtain, verify, and record information that identifies each person or legal entity that establishes a relationship or opens an account. The parties to this Agreement agree that they will provide [•] and Mechanics Bank, as the case may be, with such information as either may request in order for [•] and Mechanics Bank to satisfy the requirements of the Patriot Act.

Appears in 1 contract

Samples: Sale and Servicing Agreement (California Republic Funding LLC)

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