Limitation on Liability of Transferor and Others. The Transferor and any director, officer, employee or agent of the Transferor 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 Transferor 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, and that in its opinion may involve it in any expense or liability.
Appears in 10 contracts
Samples: Transfer and Administration Agreement (Cabela's Credit Card Master Note Trust), Depositor Sale Agreement (Deutsche Recreational Asset Funding Corp), Sale and Servicing Agreement (Pooled Auto Securities Shelf LLC)
Limitation on Liability of Transferor and Others. The Transferor and any director, officer, director or officer or employee or agent of the Transferor 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 hereunderunder any Basic Document. The Transferor 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, and that in its opinion may involve it in any expense or liability.
Appears in 3 contracts
Samples: Sale and Servicing Agreement (Painewebber Asset Acceptance Corp), Sale and Servicing Agreement (Ml Asset Backed Corp), Sale and Servicing Agreement (Ml Asset Backed Corp)
Limitation on Liability of Transferor and Others. The Transferor and any director, officer, director or officer or employee or agent of the Transferor 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 Transferor 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, and that in its opinion may involve it in any expense or liability.
Appears in 3 contracts
Samples: Securitization Trust Agreement (World Omni 1999-a Automobile Lease Securitization Trust), Securitization Trust Agreement (World Omni 1998-a Automobile Lease Securitization Trust), Securitization Trust Agreement (World Omni Lease Securitization L P /De/)
