Limited Recourse; Non-Petition. The liability of Party B in relation to this Agreement and any Confirmation hereunder is limited in recourse to assets in the Supplemental Interest Trust and payments of interest proceeds and principal proceeds thereon applied in accordance with the terms of the PSA. Upon application of all of the assets in the Supplemental Interest Trust (and proceeds thereon) in accordance with the PSA, Party A shall not be entitled to take any further steps against Party B to recover any sums due but still unpaid hereunder or thereunder, all claims in respect of which shall be extinguished.
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Samples: Swap Schedule (Asset Backed Securities CORP Home Equity Loan Trust, Series 2006-He7), Isda Master Agreement (Home Equity Asset Trust 2006-8), Swap Schedule (Asset Backed Securities CORP Home Equity Loan Trust, Series MO 2006-He6)
Limited Recourse; Non-Petition. The liability of Party B in relation to this Agreement and any Confirmation hereunder is limited in recourse to assets in the Supplemental Interest Trust and payments of interest proceeds and principal proceeds thereon applied in accordance with the terms of the PSA. Upon application of all of the assets in the Supplemental Interest Trust (and proceeds thereon) in accordance with the PSA, Party A shall not be entitled to take any further steps against Party B to recover any sums due but still unpaid hereunder or thereunder, all claims in respect of which shall be extinguished.
Appears in 7 contracts
Samples: Pooling and Servicing Agreement (Home Equity Mortgage Trust 2006-6), Pooling and Servicing Agreement (Home Equity Mortgage Trust 2005-5), Pooling and Servicing Agreement (CSFB Home Equity Mortgage Trust 2005-3)
Limited Recourse; Non-Petition. The liability of Party B in relation to this Agreement and any Confirmation hereunder is limited in recourse to assets in the Supplemental Interest Trust Fund and payments of interest proceeds and principal proceeds thereon applied in accordance with the terms of the PSA. Upon application of all of the assets in the Supplemental Interest Trust Fund (and proceeds thereon) in accordance with the PSA, Party A shall not be entitled to take any further steps against Party B to recover any sums due but still unpaid hereunder or thereunder, all claims in respect of which shall be extinguished.
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