Common use of No Borrowing Clause in Contracts

No Borrowing. The Trust Depositor shall not issue, incur, assume, guarantee or otherwise become liable, directly or indirectly, for (i) any Indebtedness except for any Indebtedness permitted by or arising under the Transaction Documents or (ii) obligations in connection with transactions described in the proviso of Section 6.01(c), as limited thereby. The proceeds of the Notes shall be used exclusively to fund the Trust Depositor’s purchase of the Contracts and the other assets specified in this Agreement and to pay the transactional expenses of the Trust Depositor.

No Borrowing. The Trust Depositor shall not issue, incur, assume, guarantee or otherwise become liable, directly or indirectly, for (i) any Indebtedness except for any Indebtedness permitted by or arising under the Transaction Documents or (ii) obligations in connection with transactions described in the proviso of Section 6.01(c), as limited thereby. The proceeds of the Notes shall be used exclusively to fund the Trust Depositor’s purchase of the Contracts and the other assets specified in this Agreement and Agreement, to pay the transactional expenses of the Trust DepositorDepositor and to make the required deposits to the Reserve Fund.

No Borrowing. The Trust Depositor shall not issue, incur, assume, guarantee or otherwise become liable, directly or indirectly, for (i) any Indebtedness except for any Indebtedness permitted by or arising under the Transaction Documents or (ii) obligations in connection with transactions described in the proviso of Section 6.01(c), as limited thereby. The proceeds of the Notes shall be used exclusively to fund the Trust Depositor’s 's purchase of the Contracts and the other assets specified in this Agreement and to pay the transactional expenses of the Trust Depositor.

No Borrowing. The Trust Depositor shall not issue, incur, assume, guarantee or otherwise become liable, directly or indirectly, for (i) any Indebtedness except for any Indebtedness permitted by or arising under the Transaction Documents or (ii) obligations in connection with transactions described in the proviso of Section 6.01(c), as limited thereby. The proceeds of the Notes shall be used exclusively to fund the Trust Depositor’s purchase of the Contracts and the other assets specified in this Agreement and Agreement, to pay the transactional expenses of the Trust DepositorDepositor and to make the required deposits to the Reserve Fund [and the Risk Retention Reserve Account].

No Borrowing. The Trust Depositor shall not issue, incur, assume, guarantee or otherwise become liable, directly or indirectly, for (i) any Indebtedness except for any Indebtedness permitted by or arising under the Transaction Documents or (ii) obligations in connection with transactions described in the proviso of Section SECTION 6.01(c), as limited thereby. The proceeds of the Notes shall be used exclusively to fund the Trust Depositor’s 's purchase of the Contracts and the other assets specified in this Agreement and to pay the transactional expenses of the Trust Depositor.

No Borrowing. The Trust Depositor shall not issue, incur, assume, guarantee or otherwise become liable, directly or indirectly, for (i) any Indebtedness except for (i) the Securities and (ii) any other Indebtedness permitted by or arising under the other Transaction Documents or (ii) obligations in connection with transactions described in the proviso of Section 6.01(c), as limited therebyDocuments. The proceeds of the Notes and the Certificates shall be used exclusively to fund the Trust Depositor’s 's purchase of the Contracts and the other assets specified in this Agreement and to pay the transactional expenses of the Trust Depositor.