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

Limitation on Liability of the Seller. Subject to ------------------------------------- Section 7.1, neither the Seller nor any of its directors, officers, employees or ----------- agents shall be under any liability to the Trust, the Trustee, the Certificateholders or any other Person for any action taken or for refraining from the taking of any action pursuant to this Agreement whether arising from express or implied duties under this Agreement; provided, however, that this -------- ------- provision shall not protect the Seller or any such Person against any liability which would otherwise be imposed by reason of willful misfeasance, bad faith or gross negligence in the performance of duties or by reason of reckless disregard of obligations and duties hereunder. The Seller and any director, officer, employee or agent may rely in good faith on any document of any kind prima facie ----- ----- properly executed and submitted by any Person respecting any matters arising hereunder. [End of Article VII]

Limitation on Liability of the Seller. Subject to Section ------------------------------------- Section ------- 7.1, neither the Seller nor any of its directors, officers, employees or ----------- agents shall be under any liability to the Trust, the Trustee, the Certificateholders or any other Person for any action taken or for refraining from the taking of any action pursuant to this Agreement whether arising from express or implied duties under this Agreement; provided, however, that this -------- ------- provision shall not -------- ------- protect the Seller or any such Person against any liability which would otherwise be imposed by reason of willful misfeasance, bad faith or gross negligence in the performance of duties or by reason of reckless disregard of obligations and duties hereunder. The Seller and any director, officer, employee or agent may rely in good faith on any document of any kind prima facie ----- ----- properly executed and submitted by any Person respecting any matters arising hereunder. [End of Article VII]