Limitation on Trustee Liability. In the absence of negligence, willful misconduct or bad faith on the part of the Trustee, the Trustee shall have no personal liability for the payment of any indebtedness or expenses of Party B or be personally liable for the breach or any failure of any obligation, representation, warranty or covenant made or undertaken by Party B under this Transaction or the Trust Agreement within the scope of the Trustee's discharge of its duties under this Transaction or the Trust Agreement or for any amounts due under this Transaction from Party B, such amounts to be paid solely from the assets of Party B in accordance with the Trust Agreement.
Appears in 10 contracts
Samples: Warrant Agent Agreement (Lehman Abs Corp Daimlerchrysler Debenture-Backed Ser 2004 3), Warrant Agent Agreement (Lehman Abs Corp Daimlerchrysler Debenture-Backed Ser 2004 3), Master Agreement (Lehman Abs Corp Repack Amer Gen Float Rt Tr Certs Ser 2003-1)
