Common use of Limitation on Liability of the Depositor Clause in Contracts

Limitation on Liability of the Depositor. (a) ---------------------------------------- The Depositor shall not be under any obligation to expend or risk its own funds or otherwise incur financial liability in the performance of its duties hereunder or under a Series Supplement or in the exercise of any of its rights or power if reasonable grounds exist for believing that the repayment or such funds or adequate indemnity against such risk or liability is not reasonably assured to it.

Appears in 5 contracts

Samples: Trust Agreement (Elmwood Funding LTD), Series Supplement Corporate Bond Backed Certificates (Lehman Abs Corp), Series Supplement (Lehman Abs Corp)

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