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

Limitation on Liability of the Sponsor. None of the directors, officers, employees or agents of the Sponsor shall be under any liability to the Depositor, it being expressly understood that all such liability is expressly waived and released as a condition of, and as consideration for, the execution of this Purchase Agreement. Except as and to the extent expressly provided in the Basic Documents, the Sponsor shall not be under any liability to the Trustee, the Custodian or the Certificateholders. The Sponsor and any director, officer, employee or agent of the Sponsor 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.