Common use of NO DUTIES EXCEPT AS SPECIFIED IN TRANSACTION DOCUMENTS Clause in Contracts

NO DUTIES EXCEPT AS SPECIFIED IN TRANSACTION DOCUMENTS. The Delaware Trustee shall have no duty or obligation to manage, control, use, make any payment in respect of, register, record, sell, dispose of or otherwise deal with any of the Trust Estate, or otherwise to take or refrain from taking any action as Delaware Trustee or on behalf of the Trust whatsoever under or in connection with this Trust Agreement or the Transaction Documents except as (i) expressly provided by the terms hereof or (ii) to the extent not so provided, as expressly provided in written instructions received pursuant to Section 5.01 or 5.02 hereof; and no implied duties or obligations shall be read into this Trust Agreement against the Delaware Trustee. The Delaware Trustee shall not in any instance have any duty to inspect any of the Trust Estate or any records pertaining thereto.

Appears in 16 contracts

Samples: Trust Agreement (Nelnet Student Loan Funding LLC), Trust Agreement (Nelnet Student Loan Trust 2006-1), Trust Agreement (Nelnet Student Loan Trust 2005-1)

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NO DUTIES EXCEPT AS SPECIFIED IN TRANSACTION DOCUMENTS. The Delaware Trustee shall have no duty or obligation to manage, control, use, make any payment in respect of, register, record, sell, dispose of or otherwise deal with any of the Trust Estate, or otherwise to take or refrain from taking any action as Delaware Trustee or on behalf of the Trust whatsoever under or in connection with this Trust Agreement or the Transaction Documents except as (i) expressly provided by the terms hereof or (ii) to the extent not so provided, as expressly provided in written instructions received pursuant to Section 5.01 or 5.02 hereof; and no implied duties or obligations shall be read into this Trust Agreement or any other Transaction Document against the Delaware Trustee. The Delaware Trustee shall not in any instance have any duty to inspect any of the Trust Estate or any records pertaining thereto.

Appears in 6 contracts

Samples: Trust Agreement (Nelnet Student Loan Trust 2009-2), Trust Agreement (Nelnet Student Loan Trust 2008-3), Trust Agreement (Nelnet Student Loan Trust 2008-2)

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