No Action by Administrator. Notwithstanding anything to the contrary in this Agreement, the Administrator shall not be obligated to, and shall not, take any action that the Issuer directs the Administrator not to take or which would result in a violation or breach of the Issuer’s covenants, agreements or obligations under any of the Issuer Documents.
Appears in 278 contracts
Samples: Administration Agreement (Santander Drive Auto Receivables Trust 2024-5), Administration Agreement (Drive Auto Receivables Trust 2024-2), Administration Agreement (Drive Auto Receivables Trust 2024-2)
No Action by Administrator. Notwithstanding anything to the contrary in this Agreement, the Administrator shall not be obligated to, and shall not, take any action that the Issuer directs the Administrator not to take or nor which would result in a violation or breach of the Issuer’s covenants, agreements or obligations under any of the Issuer Documents.
Appears in 41 contracts
Samples: Administration Agreement (Vw Credit Leasing LTD), Administration Agreement (Volkswagen Auto Lease Trust 2015-A), Administration Agreement (Volkswagen Auto Lease Trust 2015-A)
No Action by Administrator. Notwithstanding anything to the contrary in this the Agreement, the Administrator shall not be obligated to, and shall not, take any action that the Issuer Issuing Entity directs the Administrator not to take or which would result in a violation or breach of the IssuerIssuing Entity’s covenants, agreements or obligations under any of the Issuer Issuing Entity Documents.
Appears in 36 contracts
Samples: Administration Agreement (World Omni LT), Administration Agreement (World Omni LT), Administration Agreement (World Omni LT)
No Action by Administrator. Notwithstanding anything to the contrary in this Agreement, the Administrator shall not be obligated to, and shall not, take any action that the Issuer or the Grantor Trust directs the Administrator not to take or which would result in a violation or breach of the Issuer’s covenants, agreements or obligations under any of the Issuer DocumentsDocuments or the Grantor Trust’s covenants, agreements or obligations under any of the Grantor Trust Documents or that would be a violation of law.
Appears in 10 contracts
Samples: Administration Agreement (Bridgecrest Lending Auto Securitization Trust 2024-4), Administration Agreement (Bridgecrest Lending Auto Securitization Trust 2024-4), Administration Agreement (Bridgecrest Lending Auto Securitization Trust 2024-3)
No Action by Administrator. Notwithstanding anything to the contrary in this the Agreement, the Administrator shall not be obligated to, and shall not, take any action that the Issuer directs the Administrator not to take or nor which would result in a violation or breach of the Issuer’s covenants, agreements or obligations under any of the Issuer Documents.
Appears in 5 contracts
Samples: Administration Agreement (Volkswagen Auto Loan Enhanced Trust 2003-1), Administration Agreement (Volkswagen Auto Loan Enhanced Trust 2005-1), Administration Agreement (Volkswagen Auto Loan Enhanced Trust 2003-2)
No Action by Administrator. Notwithstanding anything to the contrary in this the Agreement, the Administrator shall not be obligated to, and shall not, take any action that the Issuer directs the Administrator not to take or nor which would result in a violation or breach of the Issuer’s 's covenants, agreements or obligations under any of the Issuer Documents.
Appears in 5 contracts
Samples: Administration Agreement (Volkswagen Auto Lease Trust 2005-A), Administration Agreement (Volkswagen Public Auto Loan Securitization LLC), Administration Agreement (Volkswagen Public Auto Loan Securitization LLC)
No Action by Administrator. Notwithstanding anything to the contrary in this Agreement or the Trust Agreement, the Administrator shall not be obligated totake, and shall notor fail to take, take any action that the Issuer directs the Administrator not to take or which would result in a violation or breach of (i) the Issuer’s covenants, agreements or obligations under any of the Issuer Documentsunder the Trust Agreement, (ii) the Resolution or (iii) applicable law.
Appears in 2 contracts
Samples: Administration Agreement (Greystone Housing Impact Investors LP), Administration Agreement (Greystone Housing Impact Investors LP)
No Action by Administrator. Notwithstanding anything to the contrary in this Agreement, the Administrator shall not be obligated to, and shall not, take any action that the Issuer or the Grantor Trust directs the Administrator not to take or which would result in a violation or breach of the Issuer’s or Grantor Trust’s covenants, agreements or obligations under any of the Issuer Documents or Grantor Trust Documents, as applicable.
Appears in 2 contracts
No Action by Administrator. Notwithstanding anything to the contrary in this the Agreement, the Administrator shall not be obligated toto take, and shall notnot take, take any action that the Issuer directs the Administrator not to take or nor which would result in a violation or breach of the Issuer’s 's covenants, agreements or obligations under any of the Issuer Basic Documents.
Appears in 1 contract
Samples: Administration Agreement (Volkswagen Dealer Finance LLC)
No Action by Administrator. Notwithstanding anything to the contrary in this the Agreement, the Administrator shall not be obligated toto take, and shall notnot take, take any action that the Issuer directs the Administrator not to take or nor which would result in a violation or breach of the Issuer’s covenants, agreements or obligations under any of the Issuer Basic Documents.
Appears in 1 contract
Samples: Administration Agreement (Volkswagen Credit Auto Master Owner Trust)
No Action by Administrator. Notwithstanding anything to the contrary in this Agreement, the Administrator shall not be obligated to, and shall not, take any action that the Issuer Issuer[ or the Grantor Trust] directs the Administrator not to take or which would result in a violation or breach of the Issuer’s covenants, agreements or obligations under any of the Issuer Documents[ or the Grantor Trust’s covenants, agreements or obligations under any of the Grantor Trust Documents] or that would be a violation of law.
Appears in 1 contract
Samples: Administration Agreement (Bridgecrest Auto Funding LLC)
No Action by Administrator. Notwithstanding anything to the contrary in this Agreement, the Administrator shall not be obligated to, and shall not, take any action that the Issuer directs the Administrator not to take or which would result in a violation or breach of the Issuer’s covenants, agreements or obligations under any of the Issuer Documents. The Administrator shall not direct the Owner Trustee to take any action in contravention of Section 4.1 of the Trust Agreement.
Appears in 1 contract
Samples: Administration Agreement (Porsche Auto Funding LLC)
