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

Limitation on Liability of the Depositor. (a) Unless otherwise expressly specified in the Trust Agreement, the Depositor shall not be under any obligation to expend or risk its own funds, except to the extent of its obligation to pay any amount payable under the [Trustee Fee Letter] [draft] or under Section 10.05(b) hereof, or otherwise incur financial liability in the performance of its duties thereunder or in the exercise of any of its rights or powers if reasonable grounds exist for believing that the repayment of such funds or adequate indemnity against such risk or liability is not reasonably assured to it.

Limitation on Liability of the Depositor. (a) Unless Except as may be otherwise expressly specified in the Trust Agreement, the Depositor shall not be under any obligation to (i) expend or risk its own funds, except to the extent of its obligation to pay any amount payable under the [Trustee Fee Letter] [draft] Letter or under Section 10.05(b) hereof), or (ii) otherwise incur financial liability in the performance of its duties thereunder or in the exercise of any of its rights or powers if powers, in each case of clauses (i) and (ii) to the extent that reasonable grounds exist for believing that the repayment of such funds or adequate indemnity against such risk or liability is not reasonably assured to it.

Limitation on Liability of the Depositor. (a) Unless otherwise expressly specified in the Trust Agreement, the Depositor shall not be under any obligation to expend or risk its own funds, except to the extent of its obligation to pay any amount payable 37 under the [Trustee Fee Letter] [draft] Letter or under Section 10.05(b) hereof, or otherwise incur financial liability in the performance of its duties thereunder or in the exercise of any of its rights or powers if reasonable grounds exist for believing that the repayment of such funds or adequate indemnity against such risk or liability is not reasonably assured to it.