Common use of No Duties Except as Specified in Trust Agreement or Instructions Clause in Contracts

No Duties Except as Specified in Trust Agreement or Instructions. The Owner Trustee shall not have any duty or obligation to manage, control, use, sell, dispose of or otherwise deal with the Aircraft or any other part of the Trust Estate, or to otherwise take or refrain from taking any action under, or in connection with any of the Operative Documents to which the Owner Trustee is a party, except as expressly required by the terms of any of the Operative Documents to which the Owner Trustee is a party, or (to the extent not inconsistent with the provisions of the Trust Indenture) as expressly provided by the terms hereof or in written instructions from the Owner Participant received pursuant to the terms of Section 5.01 or 5.02, and no implied duties or obligations shall be read into this Trust Agreement against the Owner Trustee. FSB agrees that it will, in its individual capacity and at its own cost or expense (but without any right of indemnity in respect of any such cost or expense under Section 7.01 hereof) promptly take such action as may be necessary to duly discharge and satisfy in full all Lessor Liens which it is required to discharge pursuant to Section 8(h) of the Participation Agreement and otherwise comply with the terms of said Section binding on it.

Appears in 10 contracts

Samples: Trust Agreement (Northwest Airlines Inc /Mn), Trust Agreement (Northwest Airlines Holdings Corp/Pred), Trust Agreement (Northwest Airlines Corp)

AutoNDA by SimpleDocs

No Duties Except as Specified in Trust Agreement or Instructions. The Owner Trustee shall not have any duty duty, power or obligation to manage, control, use, sell, operate, store, insure, dispose of or create any Lien on or otherwise deal with the Aircraft Undivided Interest or any other part of the Trust Estate, or otherwise to otherwise take or refrain from taking any action under, or in connection with with, any of the Operative Documents to which the Owner Trustee Trust is a party, except as expressly required by the terms hereof or of any of the Operative Documents to which the Owner Trustee Trust is a party, or (to the extent not inconsistent with the provisions of the Trust Indenture) as expressly provided by the terms hereof or in written instructions an instruction from the Owner Participant received pursuant to the terms of Section 5.01 5.01, Section 5.02 or 5.02Section 6.08 hereof, and no implied powers, duties or obligations shall be read into this Trust Agreement against or in favor of the Owner TrusteeTrustee or Trust Company. FSB The Trust Company agrees that it will, in its individual capacity and at its own cost or expense (but without any right of indemnity in respect of any such cost or expense under Section 5.03 or Section 7.01 hereof) ), promptly take such action as may be necessary duly to duly discharge and satisfy in full all Lessor Liens (other than Owner Trustee Claims (as defined in Section 7.01 hereof) for which the Owner Participant is obligated to indemnify the Trust Company under Section 7.01 hereof) which it is required to discharge pursuant to Section 8(h) 6.2 of the Participation Agreement and otherwise comply with the terms of said Section binding on it6.2.

Appears in 1 contract

Samples: Trust Agreement (Firstenergy Corp)

No Duties Except as Specified in Trust Agreement or Instructions. The Owner Trustee shall not have any duty or obligation to manage, control, use, sell, dispose of or otherwise deal with the Aircraft or any other part of the Trust Estate, or to otherwise take or refrain from taking any action under, or in connection with any of the Operative Documents to which the Owner Trustee is a party, except as expressly required by the terms of any of the Operative Documents to which the Owner Trustee is a party, or (to the extent not inconsistent with the provisions of the Trust Indenture) as expressly provided by the terms hereof or in written instructions from the Owner Participant received pursuant to the terms of Section 5.01 or 5.02, and no implied duties or obligations shall be read into this Trust Agreement against the Owner Trustee. FSB Xxxxx Fargo agrees that it will, in its individual capacity and at its own cost or expense (but without any right of indemnity in respect of any such cost or expense under Section 7.01 hereof) promptly take such action as may be necessary to duly discharge and satisfy in full all Lessor Liens which it is required to discharge pursuant to Section 8(h) of the Participation Agreement and otherwise comply with the terms of said Section binding on it.

Appears in 1 contract

Samples: Trust Agreement (Northwest Airlines Corp)

No Duties Except as Specified in Trust Agreement or Instructions. The Owner Trustee shall not have any duty or obligation to manage, control, use, sell, dispose of or otherwise deal with the Aircraft or any other part of the Trust Estate, or to otherwise take or refrain from taking any action under, or in connection with any of the Operative Documents to which the Owner Trustee is a party, except as expressly required by the terms of any of the Operative Documents to which the Owner Trustee is a party, or (to the extent not inconsistent with the provisions of the Trust Indenture) as expressly provided by the terms hereof or in written instructions from the Owner Participant Trustor received pursuant to the terms of Section 5.01 or 5.02, and no implied duties or obligations shall be read into this Trust Agreement against the Owner Trustee. FSB agrees that it will, in its individual capacity and at its own cost or expense (but without any right of indemnity in respect of any such cost or expense under Section 7.01 hereof) promptly take such action as may be necessary to duly discharge and satisfy in full all Lessor Liens which it is required to discharge pursuant to Section 8(h) of the Participation Agreement and otherwise comply with the terms of said Section binding on it.

Appears in 1 contract

Samples: Trust Agreement (Northwest Airlines Corp)

No Duties Except as Specified in Trust Agreement or Instructions. The Owner Trustee shall not have any duty or obligation to manage, control, use, sell, dispose of or otherwise deal with the Aircraft or any other part of the Trust Estate, or to otherwise take or refrain from taking any action under, or in connection with any of the Operative Documents to which the Owner Trustee is a party, except as expressly required by the terms of any of the Operative Documents to which the Owner Trustee is a party, or (to the extent not inconsistent with the provisions of the Trust Indenture) as expressly provided by the terms hereof or in written instructions from the Owner Participant received pursuant to the terms of of Section 5.01 or 5.02, and no implied duties or obligations shall be read into this Trust Agreement against the Owner Trustee. FSB Wells Fargo agrees that it will, in its individual capacity and at its xx xxs own cost or expense (but without any right of indemnity in respect of any such cost or expense under Section 7.01 hereof) promptly take such action as may be necessary to duly discharge and satisfy in full all Lessor Liens which it is required to discharge pursuant to Section 8(h) of the Participation Agreement and otherwise comply with the terms of said Section binding on it.

Appears in 1 contract

Samples: Trust Agreement (Northwest Airlines Inc /Mn)

No Duties Except as Specified in Trust Agreement or Instructions. The Owner Trustee shall not have any duty or obligation to manage, control, use, sell, dispose of or otherwise deal with the Aircraft or any other part of the Trust Estate, or to otherwise take or refrain from taking any action under, or in connection with any of the Operative Documents to which the Owner Trustee is a party, except as expressly required by the terms of any of the Operative Documents to which the Owner Trustee is a party, or (to the extent not inconsistent with the provisions of the Trust Indenture) as expressly provided by the terms hereof or in written instructions from the Owner Participant received pursuant to the terms of Section 5.01 or 5.02, and no implied duties or obligations shall be read into this Trust Agreement against the Owner Trustee. FSB agrees that it will, in its individual capacity and at its own cost or expense (but without any right of indemnity in respect of any such cost or expense under Section 7.01 hereof) promptly take such action as may be necessary to duly discharge and satisfy in full all Lessor Liens which it is required to discharge pursuant to Section 8(h7(f) of the Participation Agreement and otherwise comply with the terms of said Section binding on it.

Appears in 1 contract

Samples: Note Purchase Agreement (Us Airways Inc)

AutoNDA by SimpleDocs

No Duties Except as Specified in Trust Agreement or Instructions. The Owner Trustee shall not have any duty or obligation to manage, control, use, sell, dispose of or otherwise deal with the Aircraft or any other part of the Trust Estate, or to otherwise take or refrain from taking any action under, or in connection with any of the Operative Documents to which the Owner Trustee is a party, except as expressly required by the terms of any of the Operative Documents to which the Owner Trustee is a party, or (to the extent not inconsistent with the provisions of the Trust Indenture) as expressly provided by the terms hereof or in a written instructions instruction from the a Majority in Interest of Owner Participant Participants received pursuant to the terms of Section 5.01 or 5.02, 5.02 and no implied duties or obligations shall be read into this Trust Agreement against the Owner Trustee. FSB First Security Bank of Utah agrees that it will, in its individual capacity and at its own cost or expense (but without any right of indemnity in respect of any such cost or expense under Section 7.01 hereof) ), promptly take such action as may be necessary to duly discharge and satisfy in full all Lessor Liens attributable to it in its individual capacity which it is required to discharge pursuant to Section 8(h8(g) of the Participation Agreement and otherwise comply with the terms of said Section binding on upon it.

Appears in 1 contract

Samples: Trust Agreement (United Air Lines Inc)

No Duties Except as Specified in Trust Agreement or Instructions. The Owner Trustee shall not have any duty or obligation to manage, control, use, sell, dispose of or otherwise deal with the Aircraft or any other part of the Trust Estate, or to otherwise take or refrain from taking any action under, or in connection with any of the Operative Documents Agreements to which the Owner Trustee is a party, except (i) as expressly required by the terms of any of the Operative Documents Agreements to which the Owner Trustee is a party, or (ii) (to the extent not inconsistent with the provisions of the Trust Indenture) ), as expressly provided by the terms hereof or as expressly provided in a written instructions instruction from the Owner Participant received pursuant to the terms of Section 5.01 or 5.025.02 hereof, and no implied duties or obligations shall be read into this Trust Agreement against the Owner Trustee. FSB SBC agrees that it will, in its individual capacity and at its own cost or expense (but without any right of indemnity in respect of any such cost or expense under Section 5.03 or 7.01 hereof) ), promptly take such action as may be necessary to duly discharge and satisfy in full all Lessor Liens attributable to it in its individual capacity which it is required to discharge pursuant to Section 8(h8(g) of the Participation Agreement and otherwise comply with the terms of said Section binding on upon it.

Appears in 1 contract

Samples: Trust Agreement (Southwest Airlines Co)

No Duties Except as Specified in Trust Agreement or Instructions. The Owner Trustee shall not have any duty or obligation to manage, control, use, sell, dispose of or otherwise deal with the Aircraft or any other part of the Trust Estate, or to otherwise take or refrain from taking any action under, or in connection with any of the Operative Documents Agreements to which the Owner Trustee is a party, except (i) as expressly required by the terms of any of the Operative Documents Agreements to which the Owner Trustee is a party, or (ii) (to the extent not inconsistent with the provisions of the Trust Indenture) , as expressly provided by the terms hereof or hereof) as expressly provided in a written instructions instruction from the Owner Participant received pursuant to the terms of Section 5.01 or 5.025.02 hereof, and no implied duties or obligations shall be read into this Trust Agreement against the Owner Trustee. FSB SBC agrees that it will, in its individual capacity and at its own cost or expense (but without any right of indemnity in respect of any such cost or expense under Section 5.03 or 7.01 hereof) ), promptly take such action as may be necessary to duly discharge and satisfy in full all Lessor Liens attributable to it in its individual capacity which it is required to discharge pursuant to Section 8(h8(g) of the Participation Agreement and otherwise comply with the terms of said Section binding on upon it.

Appears in 1 contract

Samples: Trust Agreement (Southwest Airlines Co)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!