Common use of Limitation on Liability of the Company and Others Clause in Contracts

Limitation on Liability of the Company and Others. The Company and any director, officer, employee or agent of a member of the Company 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 hereunder. The Company shall not be under any obligation to appear in, prosecute or defend any legal action that shall not be incidental to its obligations under this Agreement or under the Trust Agreement, and that in its opinion may involve it in any expense or liability.

Appears in 31 contracts

Samples: Purchase Agreement (Chrysler Financial Auto Securitization Trust 2010-A), Purchase Agreement (Chrysler Financial Services Americas LLC), Purchase Agreement (Daimlerchrysler Auto Trust 2008-B)

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Limitation on Liability of the Company and Others. The Company and any director, officer, employee or agent of a member of the Company 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 hereunder. The Company shall not be under any no obligation to appear in, prosecute or defend any legal action that shall not be incidental related to its obligations under this Agreement or under the Trust Agreement, and that in its opinion may involve it in any expense or liability.

Appears in 4 contracts

Samples: Pooling and Servicing Agreement (Goldman Sachs Asset Backed Securities Corp), Pooling and Servicing Agreement (Goldman Sachs Asset Backed Securities Corp), Pooling and Servicing Agreement (Gs Mortgage Securities Corp)

Limitation on Liability of the Company and Others. The Company and any director, officer, employee or agent of a member of the Company 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 hereunder. The Company shall not be under any obligation to appear in, prosecute or defend any legal action that shall not be incidental related to its respective obligations under this Agreement or under the Trust Agreement, and that in its the Company's opinion may involve it in any expense or liability.

Appears in 4 contracts

Samples: Sale and Servicing Agreement (Bond Securitization LLC), Sale and Servicing Agreement (Bond Securitization LLC), Sale and Servicing Agreement (Goldman Sachs Asset Backed Securities Corp)

Limitation on Liability of the Company and Others. The Company and any director, officer, employee or agent of a member of the Company 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 hereunder. The Company shall not be under any obligation to appear in, prosecute or defend any legal action that shall not be incidental related to its respective obligations under this Agreement or under the Trust Agreement, and that in its the Company’s opinion may involve it in any expense or liability.

Appears in 3 contracts

Samples: Form of Sale and Servicing Agreement (Goldman Sachs Asset Backed Securities Corp), Sale and Servicing Agreement (Goldman Sachs Asset Backed Securities Corp), Form of Sale and Servicing Agreement (Goldman Sachs Asset Backed Securities Corp)

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Limitation on Liability of the Company and Others. The ------------------------------------------------- Company and any director, officer, employee or agent of a member of the Company 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 hereunder. The Company shall not be under any no obligation to appear in, prosecute or defend any legal action that shall not be incidental related to its obligations under this Agreement or under the Trust Agreement, and that in its opinion may involve it in any expense or liability.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Asset Backed Securities Corp)

Limitation on Liability of the Company and Others. The ------------------------------------------------- Company and any director, officer, employee or agent of a member of the Company 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 hereunder. The Company shall not be under any obligation to appear in, prosecute or defend any legal action that shall not be incidental related to its respective obligations under this Agreement or under the Trust Agreement, and that in its the Company's opinion may involve it in any expense or liability.

Appears in 1 contract

Samples: Sale and Servicing Agreement (Asset Backed Securities Corp)

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