Common use of LIMITATION ON LIABILITY OF OFL AND OTHERS Clause in Contracts

LIMITATION ON LIABILITY OF OFL AND OTHERS. OFL and any director, officer, employee or agent may rely in good faith on the advice of counsel or on any document of any kind prima facie properly executed and submitted by any Person respecting any matters arising under this Agreement. OFL shall not be under any obligation to appear in, prosecute or defend any legal action that is not incidental to its obligations under this Agreement, any Subsequent Purchase Agreement or its Related Documents and that in its opinion may involve it in any expense or liability.

Appears in 2 contracts

Samples: Receivables Purchase Agreement and Assignment (Olympic Receivables Finance Corp), Receivables Purchase Agreement and Assignment (Olympic Receivables Finance Corp)

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LIMITATION ON LIABILITY OF OFL AND OTHERS. OFL and any director, officer, employee or agent may rely in good faith on the advice of counsel or on any document of any kind prima facie properly executed and submitted by any Person respecting any matters arising under this Agreement. OFL shall not be under any obligation to appear in, prosecute or defend any legal action that is not incidental to its obligations under this Agreement, any Subsequent Purchase Agreement or its Related Documents and that in its opinion may involve it in any expense or liability.

Appears in 1 contract

Samples: Receivables Purchase Agreement and Assignment (Olympic Financial LTD)

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LIMITATION ON LIABILITY OF OFL AND OTHERS. OFL and any director, officer, employee or agent may rely in good faith on the advice of counsel or on any document of any kind prima facie properly executed and submitted by any Person respecting any matters arising under this Agreement. OFL shall not be under any obligation to appear in, prosecute or defend any legal action that is not incidental to its obligations under this Agreement, any Subsequent Purchase Assignment Agreement or its Related Documents and that in its opinion may involve it in any expense or liability.

Appears in 1 contract

Samples: Receivables Purchase Agreement and Assignment (Olympic Financial LTD)

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