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

Limitation of Liability of Vehicle Trustee. Notwithstanding anything contained herein to the contrary, this instrument has been countersigned by BNY Mellon Trust of Delaware not in its individual capacity but solely in its capacity as Vehicle Trustee of the Vehicle Trust and in no event shall BNY Mellon Trust of Delaware in its individual capacity have any liability for the representations, warranties, covenants, agreements or other obligations of the Vehicle Trust hereunder, as to all of which recourse shall be had solely to the assets of the Vehicle Trust. For all purposes of this Servicing Supplement, in the performance of any duties or obligations of the Vehicle Trust hereunder, the Vehicle Trustee shall be subject to, and entitled to the benefits of, the terms and provisions of Part VI of the SUBI Trust Agreement.

Appears in 25 contracts

Samples: Basic Servicing Agreement (BMW Vehicle Lease Trust 2024-1), Basic Servicing Agreement (BMW Vehicle Lease Trust 2024-1), Basic Servicing Agreement (BMW Vehicle Lease Trust 2023-2)

AutoNDA by SimpleDocs

Limitation of Liability of Vehicle Trustee. Notwithstanding anything contained herein to the contrary, this instrument has been countersigned by BNY Mellon Trust of Delaware not in its individual capacity but solely in its capacity as Vehicle Trustee of the Vehicle Trust and in no event shall BNY Mellon Trust of Delaware in its individual capacity have any liability for the representations, warranties, covenants, agreements or other obligations of the Vehicle Trust hereunder, as to all of which recourse shall be had solely to the assets of the Vehicle Trust. For all purposes of this Servicing SupplementAgreement, in the performance of any duties or obligations of the Vehicle Trust hereunder, the Vehicle Trustee shall be subject to, and entitled to the benefits of, the terms and provisions of Part VI of the SUBI Trust Agreement.

Appears in 19 contracts

Samples: Basic Servicing Agreement (BMW Auto Leasing LLC), Basic Servicing Agreement (BMW Auto Leasing LLC), Financial Services (Financial Services Vehicle Trust)

AutoNDA by SimpleDocs

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

Appears in 1 contract

Samples: Financial Services (BMW Vehicle Lease Trust 2007-1)

Time is Money Join Law Insider Premium to draft better contracts faster.