No Duties Except as Specified in this Agreement or in Instructions. The Owner Trustee has no duty or obligation to manage, make any payment with respect to, register, record, sell, dispose of or otherwise deal with the Trust Property, or to otherwise take or refrain from taking any action under, or in connection with, any document contemplated by this Agreement to which the Owner Trustee or the Issuer is a party, except as provided by this Agreement or in any document or instruction received by the Owner Trustee pursuant to Section 5.6. No implied duties or obligations will be read into any Transaction Document against the Owner Trustee. The Owner Trustee has no responsibility for filing any financing statements or continuation statements or to otherwise perfect or maintain the perfection of any security interest or Lien granted to it under this Agreement or to prepare or file any Securities and Exchange Commission filing for the Issuer or to record any Transaction Document. The Owner Trustee nevertheless agrees that it will promptly take, at its own cost and expense, all action as may be necessary to discharge any Lien (other than the Lien of the Indenture) on any part of the Trust Property that results from actions by, or claims against, the Owner Trustee that are not related to the ownership or the administration of the Trust Property.
Appears in 17 contracts
Samples: Trust Agreement (Ford Credit Auto Owner Trust 2014-A), Trust Agreement (Ford Credit Auto Owner Trust 2014-A), Trust Agreement (Ford Credit Auto Owner Trust 2013-D)
No Duties Except as Specified in this Agreement or in Instructions. The Owner Trustee has no duty or obligation to manage, make any payment with respect to, register, record, sell, dispose of of, or otherwise deal with the Trust Property, or to otherwise take or refrain from taking any action under, or in connection with, any document contemplated by this Agreement to which the Owner Trustee or the Issuer is a party, except as provided by this Agreement or in any document or instruction received by the Owner Trustee pursuant to Section 5.6. No implied duties or obligations will be read into any Transaction Basic Document against the Owner Trustee. The Owner Trustee has no responsibility for filing any financing statements or continuation statements or to otherwise perfect or maintain the perfection of any security interest or Lien granted to it under this Agreement or to prepare or file any Securities and Exchange Commission filing for the Issuer or to record any Transaction Basic Document. The Owner Trustee nevertheless agrees that it will promptly take, at its own cost and expense, all action as may be necessary to discharge any Lien (other than the Lien of the Indenture) on any part of the Trust Property that results from actions by, or claims against, the Owner Trustee that are not related to the ownership or the administration of the Trust Property.
Appears in 6 contracts
Samples: Trust Agreement (Ford Credit Auto Owner Trust 2010-B), Trust Agreement (Ford Credit Auto Owner Trust 2010-A), Trust Agreement (Ford Credit Auto Owner Trust 2009-E)
No Duties Except as Specified in this Agreement or in Instructions. The Owner Trustee has no duty or obligation to manage, make any payment with respect to, register, record, sell, dispose of of, or otherwise deal with the Trust Property, or to otherwise take or refrain from taking any action under, or in connection with, any document contemplated by this Agreement to which the Owner Trustee or the Issuer is a party, except as provided by this Agreement or in any document or instruction received by the Owner Trustee pursuant to Section 5.6. No implied duties or obligations will be read into any Transaction Document against the Owner Trustee. The Owner Trustee has no responsibility for filing any financing statements or continuation statements or to otherwise perfect or maintain the perfection of any security interest or Lien granted to it under this Agreement or to prepare or file any Securities and Exchange Commission filing for the Issuer or to record any Transaction Document. The Owner Trustee nevertheless agrees that it will promptly take, at its own cost and expense, all action as may be necessary to discharge any Lien (other than the Lien of the Indenture) on any part of the Trust Property that results from actions by, or claims against, the Owner Trustee that are not related to the ownership or the administration of the Trust Property.
Appears in 5 contracts
Samples: Trust Agreement (Ford Credit Auto Owner Trust 2012-A), Trust Agreement (Ford Credit Auto Owner Trust 2012-A), Trust Agreement (Ford Credit Auto Owner Trust 2011-B)
No Duties Except as Specified in this Agreement or in Instructions. The Owner Trustee has no duty or obligation to manage, make any payment with respect to, register, record, sell, dispose of of, or otherwise deal with the Trust Property, or to otherwise take or refrain from taking any action under, or in connection with, any document contemplated by this Agreement to which the Owner Trustee or the Issuer is a party, except as provided by this Agreement or in any document or instruction received by the Owner Trustee pursuant to Section 5.6. No implied duties or obligations will be read into any Transaction Basic Document against the Owner Trustee. The Owner Trustee has no responsibility for filing any financing statements or continuation statements or to otherwise perfect or maintain the perfection of any security interest or Lien lien granted to it under this Agreement or to prepare or file any Securities and Exchange Commission filing for the Issuer or to record any Transaction Basic Document. The Owner Trustee nevertheless agrees that it will promptly take, at its own cost and expense, all action as may be necessary to discharge any Lien lien (other than the Lien lien of the Indenture) on any part of the Trust Property that results from actions by, or claims against, the Owner Trustee that are not related to the ownership or the administration of the Trust Property.
Appears in 5 contracts
Samples: Trust Agreement (Ford Credit Auto Owner Trust 2008-A), Trust Agreement (Ford Credit Auto Owner Trust 2006-A), Trust Agreement (Ford Credit Auto Owner Trust 2008-C)
No Duties Except as Specified in this Agreement or in Instructions. The Owner Trustee has no duty or obligation to manage, make any payment with respect to, register, record, sell, dispose of of, or otherwise deal with the Trust Property, or to otherwise take or refrain from taking any action under, or in connection with, any document contemplated by this Agreement to which the Owner Trustee or the Issuer is a party, except as provided by this Agreement or in any document or instruction received by the Owner Trustee pursuant to Section 5.6. No implied duties or obligations will be read into any Transaction 2011-A Basic Document against the Owner Trustee. The Owner Trustee has no responsibility for filing any financing statements or continuation statements or to otherwise perfect or maintain the perfection of any security interest or Lien lien granted to it under this Agreement or to prepare or file any Securities and Exchange Commission filing for the Issuer or to record any Transaction 2011-A Basic Document. The Owner Trustee nevertheless agrees that it will promptly take, at its own cost and expense, all action as may be necessary to discharge any Lien lien (other than the Lien lien of the Indenture) on any part of the Trust Property that results from actions by, or claims against, the Owner Trustee that are not related to the ownership or the administration of the Trust Property.
Appears in 2 contracts
Samples: Trust Agreement (Ford Credit Auto Lease Trust 2011-A), Trust Agreement (Ford Credit Auto Lease Trust 2011-A)
No Duties Except as Specified in this Agreement or in Instructions. The Owner Trustee has no duty or obligation to manage, make any payment with respect to, register, record, sell, dispose of of, or otherwise deal with the Trust Property, or to otherwise take or refrain from taking any action under, or in connection with, any document contemplated by this Agreement to which the Owner Trustee or the Issuer is a party, except as provided by this Agreement or in any document or instruction received by the Owner Trustee pursuant to Section 5.6. No implied duties or obligations will be read into any Transaction 2013-B Basic Document against the Owner Trustee. The Owner Trustee has no responsibility for filing any financing statements or continuation statements or to otherwise perfect or maintain the perfection of any security interest or Lien granted to it under this Agreement or to prepare or file any Securities and Exchange Commission filing for the Issuer or to record any Transaction 2013-B Basic Document. The Owner Trustee nevertheless agrees that it will promptly take, at its own cost and expense, all action as may be necessary to discharge any Lien (other than the Lien of the Indenture) on any part of the Trust Property that results from actions by, or claims against, the Owner Trustee that are not related to the ownership or the administration of the Trust Property.
Appears in 2 contracts
Samples: Trust Agreement (Ford Credit Auto Lease Trust 2013-B), Trust Agreement (Ford Credit Auto Lease Trust 2013-B)
No Duties Except as Specified in this Agreement or in Instructions. The Owner Trustee has no duty or obligation to manage, make any payment with respect to, register, record, sell, dispose of of, or otherwise deal with the Trust Property, or to otherwise take or refrain from taking any action under, or in connection with, any document contemplated by this Agreement to which the Owner Trustee or the Issuer is a party, except as provided by this Agreement or in any document or instruction received by the Owner Trustee pursuant to Section 5.6. No implied duties or obligations will be read into any Transaction 2014-A Basic Document against the Owner Trustee. The Owner Trustee has no responsibility for filing any financing statements or continuation statements or to otherwise perfect or maintain the perfection of any security interest or Lien granted to it under this Agreement or to prepare or file any Securities and Exchange Commission filing for the Issuer or to record any Transaction 2014-A Basic Document. The Owner Trustee nevertheless agrees that it will promptly take, at its own cost and expense, all action as may be necessary to discharge any Lien (other than the Lien of the Indenture) on any part of the Trust Property that results from actions by, or claims against, the Owner Trustee that are not related to the ownership or the administration of the Trust Property.
Appears in 2 contracts
Samples: Trust Agreement (Ford Credit Auto Lease Trust 2014-A), Trust Agreement (Ford Credit Auto Lease Trust 2014-A)
No Duties Except as Specified in this Agreement or in Instructions. The Owner Trustee has no duty or obligation to manage, make any payment with respect to, register, record, sell, dispose of of, or otherwise deal with the Trust Property, or to otherwise take or refrain from taking any action under, or in connection with, any document contemplated by this Agreement to which the Owner Trustee or the Issuer is a party, except as provided by this Agreement or in any document or instruction received by the Owner Trustee pursuant to Section 5.6. No implied duties or obligations will be read into any Transaction 2011-B Basic Document against the Owner Trustee. The Owner Trustee has no responsibility for filing any financing statements or continuation statements or to otherwise perfect or maintain the perfection of any security interest or Lien lien granted to it under this Agreement or to prepare or file any Securities and Exchange Commission filing for the Issuer or to record any Transaction 2011-B Basic Document. The Owner Trustee nevertheless agrees that it will promptly take, at its own cost and expense, all action as may be necessary to discharge any Lien lien (other than the Lien lien of the Indenture) on any part of the Trust Property that results from actions by, or claims against, the Owner Trustee that are not related to the ownership or the administration of the Trust Property.
Appears in 2 contracts
Samples: Trust Agreement (Ford Credit Auto Lease Trust 2011-B), Trust Agreement (Ford Credit Auto Lease Trust 2011-B)
No Duties Except as Specified in this Agreement or in Instructions. The Owner Trustee has no duty or obligation to manage, make any payment with respect toon, register, record, sell, dispose of of, or otherwise deal with the Trust Property, or to otherwise take or refrain from taking any action under, or in connection with, any document contemplated by this Agreement to which the Owner Trustee or the Issuer is a party, except as provided by this Agreement or in any document or instruction received by the Owner Trustee pursuant to under Section 5.6. No implied duties or obligations will be read into any Transaction 2015-B Basic Document against the Owner Trustee. The Owner Trustee has no responsibility for filing any financing statements or continuation statements or to otherwise perfect or maintain the perfection of any security interest or Lien granted to it under this Agreement or to prepare or file any Securities and Exchange Commission filing for the Issuer or to record any Transaction 2015-B Basic Document. The Owner Trustee nevertheless agrees that it will promptly take, at its own cost and expense, all action as may be necessary to discharge any Lien (other than the Lien of the Indenture) on any part of the Trust Property that results from actions by, or claims against, the Owner Trustee that are not related to the ownership or the administration of the Trust Property.
Appears in 2 contracts
Samples: Trust Agreement (Ford Credit Auto Lease Trust 2015-B), Trust Agreement (Ford Credit Auto Lease Trust 2015-B)
No Duties Except as Specified in this Agreement or in Instructions. The Owner Trustee has no duty or obligation to manage, make any payment with respect to, register, record, sell, dispose of of, or otherwise deal with the Trust Property, or to otherwise take or refrain from taking any action under, or in connection with, any document contemplated by this Agreement to which the Owner Trustee or the Issuer is a party, except as provided by this Agreement or in any document or instruction received by the Owner Trustee pursuant to Section 5.6. No implied duties or obligations will be read into any Transaction 2012-B Basic Document against the Owner Trustee. The Owner Trustee has no responsibility for filing any financing statements or continuation statements or to otherwise perfect or maintain the perfection of any security interest or Lien granted to it under this Agreement or to prepare or file any Securities and Exchange Commission filing for the Issuer or to record any Transaction 2012-B Basic Document. The Owner Trustee nevertheless agrees that it will promptly take, at its own cost and expense, all action as may be necessary to discharge any Lien (other than the Lien of the Indenture) on any part of the Trust Property that results from actions by, or claims against, the Owner Trustee that are not related to the ownership or the administration of the Trust Property.
Appears in 2 contracts
Samples: Trust Agreement (Ford Credit Auto Lease Trust 2012-B), Trust Agreement (Ford Credit Auto Lease Trust 2012-B)
No Duties Except as Specified in this Agreement or in Instructions. The Owner Trustee has no duty or obligation to manage, make any payment with respect to, register, record, sell, dispose of of, or otherwise deal with the Trust Property, or to otherwise take or refrain from taking any action under, or in connection with, any document contemplated by this Agreement to which the Owner Trustee or the Issuer is a party, except as provided by this Agreement or in any document or instruction received by the Owner Trustee pursuant to Section 5.6. No implied duties or obligations will be read into any Transaction Document against the Owner Trustee. The Owner Trustee has no responsibility for filing any financing statements or continuation statements statement or to otherwise perfect or maintain the perfection of any security interest or Lien granted to it under this Agreement or to prepare or file any Securities and Exchange Commission filing for the Issuer or to record any Transaction Document. The Owner Trustee nevertheless agrees that it will promptly take, at its own cost and expense, all action as may be necessary to discharge any Lien (other than the Lien of the IndenturePermitted Liens) on any part of the Trust Property that results from actions by, or claims against, the Owner Trustee that are not related to the ownership or the administration of the Trust Property.
Appears in 2 contracts
Samples: Trust Agreement (Ford Credit Floorplan LLC), Trust Agreement (Ford Credit Floorplan Corp)
No Duties Except as Specified in this Agreement or in Instructions. The Owner Trustee has no duty or obligation to manage, make any payment with respect toon, register, record, sell, dispose of of, or otherwise deal with the Trust Property, or to otherwise take or refrain from taking any action under, or in connection with, any document contemplated by this Agreement to which the Owner Trustee or the Issuer is a party, except as provided by this Agreement or in any document or instruction received by the Owner Trustee pursuant to under Section 5.6. No implied duties or obligations will be read into any Transaction 2014-B Basic Document against the Owner Trustee. The Owner Trustee has no responsibility for filing any financing statements or continuation statements or to otherwise perfect or maintain the perfection of any security interest or Lien granted to it under this Agreement or to prepare or file any Securities and Exchange Commission filing for the Issuer or to record any Transaction 2014-B Basic Document. The Owner Trustee nevertheless agrees that it will promptly take, at its own cost and expense, all action as may be necessary to discharge any Lien (other than the Lien of the Indenture) on any part of the Trust Property that results from actions by, or claims against, the Owner Trustee that are not related to the ownership or the administration of the Trust Property.
Appears in 2 contracts
Samples: Trust Agreement (Ford Credit Auto Lease Trust 2014-B), Trust Agreement (Ford Credit Auto Lease Trust 2014-B)
No Duties Except as Specified in this Agreement or in Instructions. The Owner Trustee has no duty or obligation to manage, make any payment with respect to, register, record, sell, dispose of of, or otherwise deal with the Trust Property, or to otherwise take or refrain from taking any action under, or in connection with, any document contemplated by this Agreement to which the Owner Trustee or the Issuer is a party, except as provided by this Agreement Agreement or in any document or instruction received by the Owner Trustee pursuant to Section 5.6. No implied duties or obligations will be read into any Transaction Basic Document against the Owner Trustee. The Owner Trustee has no responsibility for filing any financing statements or continuation statements or to otherwise perfect or maintain the perfection of any security interest or Lien lien granted to it under this Agreement or to prepare or file any Securities and Exchange Commission Commission filing for the Issuer or to record any Transaction Basic Document. The Owner Trustee nevertheless agrees that it will promptly take, at its own cost and expense, all action as may be necessary to discharge any Lien lien (other than the Lien lien of the Indenture) on any part of the Trust Property that results from actions by, or claims against, the Owner Trustee that are not related to the ownership or the administration of the Trust Property.
Appears in 2 contracts
Samples: Trust Agreement (Ford Credit Auto Owner Trust 2007-B), Trust Agreement (Ford Credit Auto Owner Trust 2007-A)
No Duties Except as Specified in this Agreement or in Instructions. The Owner Trustee has no duty or obligation to manage, make any payment with respect toon, register, record, sell, dispose of of, or otherwise deal with the Trust Property, or to otherwise take or refrain from taking any action under, or in connection with, any document contemplated by this Agreement to which the Owner Trustee or the Issuer is a party, except as provided by this Agreement or in any document or instruction received by the Owner Trustee pursuant to under Section 5.6. No implied duties or obligations will be read into any Transaction 2015-A Basic Document against the Owner Trustee. The Owner Trustee has no responsibility for filing any financing statements or continuation statements or to otherwise perfect or maintain the perfection of any security interest or Lien granted to it under this Agreement or to prepare or file any Securities and Exchange Commission filing for the Issuer or to record any Transaction 2015-A Basic Document. The Owner Trustee nevertheless agrees that it will promptly take, at its own cost and expense, all action as may be necessary to discharge any Lien (other than the Lien of the Indenture) on any part of the Trust Property that results from actions by, or claims against, the Owner Trustee that are not related to the ownership or the administration of the Trust Property.
Appears in 2 contracts
Samples: Trust Agreement (Ford Credit Auto Lease Trust 2015-A), Trust Agreement (Ford Credit Auto Lease Trust 2015-A)
No Duties Except as Specified in this Agreement or in Instructions. The Owner Trustee has no duty or obligation to manage, make any payment with respect to, register, record, sell, dispose of of, or otherwise deal with the Trust Property, or to otherwise take or refrain from taking any action under, or in connection with, any document contemplated by this Agreement to which the Owner Trustee or the Issuer is a party, except as provided by this Agreement or in any document or instruction received by the Owner Trustee pursuant to Section 5.6. No implied duties or obligations will be read into any Transaction 2012-A Basic Document against the Owner Trustee. The Owner Trustee has no responsibility for filing any financing statements or continuation statements or to otherwise perfect or maintain the perfection of any security interest or Lien granted to it under this Agreement or to prepare or file any Securities and Exchange Commission filing for the Issuer or to record any Transaction 2012-A Basic Document. The Owner Trustee nevertheless agrees that it will promptly take, at its own cost and expense, all action as may be necessary to discharge any Lien (other than the Lien of the Indenture) on any part of the Trust Property that results from actions by, or claims against, the Owner Trustee that are not related to the ownership or the administration of the Trust Property.
Appears in 2 contracts
Samples: Trust Agreement (Ford Credit Auto Lease Trust 2012-A), Trust Agreement (Ford Credit Auto Lease Trust 2012-A)
No Duties Except as Specified in this Agreement or in Instructions. The Owner Trustee has no duty or obligation to manage, make any payment with respect to, register, record, sell, dispose of of, or otherwise deal with the Trust Property, or to otherwise take or refrain from taking any action under, or in connection with, any document contemplated by this Agreement to which the Owner Trustee or the Issuer is a party, except as provided by this Agreement or in any document or instruction received by the Owner Trustee pursuant to Section 5.6. No implied duties or obligations will be read into any Transaction 2013-A Basic Document against the Owner Trustee. The Owner Trustee has no responsibility for filing any financing statements or continuation statements or to otherwise perfect or maintain the perfection of any security interest or Lien granted to it under this Agreement or to prepare or file any Securities and Exchange Commission filing for the Issuer or to record any Transaction 2013-A Basic Document. The Owner Trustee nevertheless agrees that it will promptly take, at its own cost and expense, all action as may be necessary to discharge any Lien (other than the Lien of the Indenture) on any part of the Trust Property that results from actions by, or claims against, the Owner Trustee that are not related to the ownership or the administration of the Trust Property.
Appears in 2 contracts
Samples: Trust Agreement (Ford Credit Auto Lease Trust 2013-A), Trust Agreement (Ford Credit Auto Lease Trust 2013-A)
No Duties Except as Specified in this Agreement or in Instructions. The Owner Trustee has no duty or obligation to manage, make any payment with respect to, register, record, sell, dispose of of, or otherwise deal with the Trust Property, or to otherwise take or refrain from taking any action under, or in connection with, any document contemplated by this Agreement to which the Owner Trustee or the Issuer is a party, except as provided by this Agreement or in any document or instruction received by the Owner Trustee pursuant to Section 5.6. No implied duties or obligations will be read into any Transaction 20_-_ Basic Document against the Owner Trustee. The Owner Trustee has no responsibility for filing any financing statements or continuation statements or to otherwise perfect or maintain the perfection of any security interest or Lien lien granted to it under this Agreement or to prepare or file any Securities and Exchange Commission filing for the Issuer or to record any Transaction 20_-_ Basic Document. The Owner Trustee nevertheless agrees that it will promptly take, at its own cost and expense, all action as may be necessary to discharge any Lien lien (other than the Lien lien of the Indenture) on any part of the Trust Property that results from actions by, or claims against, the Owner Trustee that are not related to the ownership or the administration of the Trust Property.
Appears in 1 contract
Samples: Trust Agreement (CAB West LLC)
No Duties Except as Specified in this Agreement or in Instructions. The Owner Trustee has no shall not have any duty or obligation to manage, make any payment with respect to, register, record, sell, dispose of or otherwise deal with the Trust PropertyEstate, or to otherwise take or refrain from taking any action under, or in connection with, any document contemplated by this Agreement hereby to which the Owner Trustee or the Issuer is a party, except as expressly provided by this Agreement or in any document or written instruction received by the Owner Trustee pursuant to Section 5.6. No 6.3; and no implied duties or obligations will shall be read into this Agreement or any Transaction Basic Document against the Owner Trustee. The Owner Trustee has shall have no responsibility for filing any financing statements or continuation statements statement in any public office at any time or to otherwise perfect or maintain the perfection of any security interest or Lien granted to it under this Agreement hereunder or to prepare or file any Securities and Exchange Commission filing for the Issuer Trust or to record this Agreement or any Transaction Basic Document. The Owner Trustee nevertheless agrees that it will promptly takewill, at its own cost and expense, promptly take all action as may be necessary to discharge any Lien (other than the Lien of the Indenture) Liens on any part of the Trust Property Estate that results result from actions by, or claims against, the Owner Trustee that are not related to the ownership or the administration of the Trust PropertyEstate.
Appears in 1 contract
No Duties Except as Specified in this Agreement or in Instructions. The Owner Trustee has no duty or obligation to manage, make any payment with respect to, register, record, sell, dispose of of, or otherwise deal with the Trust Property, or to otherwise take or refrain from taking any action under, or in connection with, any document contemplated by this Agreement to which the Owner Trustee or the Issuer is a party, except as provided by this Agreement Agree-ment or in any document or instruction received by the Owner Trustee pursuant to Section 5.6. No implied duties or obligations will be read into any Transaction Basic Document against the Owner Trustee. The Owner Trustee has no responsibility for filing any financing statements or continuation statements or to otherwise perfect or maintain the perfection of any security interest or Lien lien granted to it under this Agreement or to prepare or file any Securities and Exchange Commission Commis-sion filing for the Issuer or to record any Transaction Basic Document. The Owner Trustee nevertheless agrees that it will promptly take, at its own cost and expense, all action as may be necessary to discharge any Lien lien (other than the Lien lien of the Indenture) on any part of the Trust Property that results from actions by, or claims against, the Owner Trustee that are not related to the ownership or the administration of the Trust Property.
Appears in 1 contract
Samples: Trust Agreement (Ford Credit Auto Owner Trust 2006-C)
No Duties Except as Specified in this Agreement or in Instructions. The Owner Trustee has no duty or obligation to manage, make any payment with respect toon, register, record, sell, dispose of of, or otherwise deal with the Trust Property, or to otherwise take or refrain from taking any action under, or in connection with, any document contemplated by this Agreement to which the Owner Trustee or the Issuer is a party, except as provided by this Agreement or in any document or instruction received by the Owner Trustee pursuant to under Section 5.6. No implied duties or obligations will be read into any Transaction 20__-_ Basic Document against the Owner Trustee. The Owner Trustee has no responsibility for filing any financing statements or continuation statements or to otherwise perfect or maintain the perfection of any security interest or Lien granted to it under this Agreement or to prepare or file any Securities and Exchange Commission filing for the Issuer or to record any Transaction 20__-_ Basic Document. The Owner Trustee nevertheless agrees that it will promptly take, at its own cost and expense, all action as may be necessary to discharge any Lien (other than the Lien of the Indenture) on any part of the Trust Property that results from actions by, or claims against, the Owner Trustee that are not related to the ownership or the administration of the Trust Property.
Appears in 1 contract
Samples: Trust Agreement (CAB West LLC)
No Duties Except as Specified in this Agreement or in Instructions. The Owner Trustee has no duty or obligation to manage, make any payment with respect to, register, record, sell, dispose of of, or otherwise deal with the Trust Property, or to otherwise take or refrain from taking any action under, or in connection with, any document contemplated by this Agreement to which the Owner Trustee or the Issuer is a party, except as provided by this Agreement or in any document or instruction received by the Owner Trustee pursuant to Section 5.6. No implied duties or obligations will be read into any Transaction Basic Document against the Owner Trustee. The Owner Trustee has no responsibility for filing any financing statements or continuation statements or to otherwise perfect or maintain the perfection of any security interest or Lien lien granted to it under this Agreement or to prepare or file any Securities and Exchange Commission Commis-sion filing for the Issuer or to record any Transaction Basic Document. The Owner Trustee nevertheless agrees that it will promptly take, at its own cost and expense, all action as may be necessary to discharge any Lien lien (other than the Lien lien of the Indenture) on any part of the Trust Property that results from actions by, or claims against, the Owner Trustee that are not related to the ownership or the administration of the Trust Property.
Appears in 1 contract
Samples: Trust Agreement (Ford Credit Auto Owner Trust 2006-B)