Common use of No Duties Except as Specified Clause in Contracts

No Duties Except as Specified. 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 Owner Trustee Agreements, except as expressly required by the terms of any of the Owner Trustee Agreements, or (to the extent not inconsistent with the provisions of the Trust Indenture) as expressly provided by the terms hereof or in a written instruction from Owner Participant received pursuant to the terms of Section 5.1 or 5.2, and no implied duties or obligations shall be read into this Trust Agreement against Owner Trustee. First Security 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 hereunder or under the Participation Agreement), 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 7.3.1 of the Participation Agreement and otherwise comply with the terms of said Section binding upon it.

Appears in 13 contracts

Samples: Lease Agreement (Continental Airlines Inc /De/), Trust Agreement (Continental Airlines Inc /De/), Trust Agreement (Continental Airlines Inc /De/)

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No Duties Except as Specified. 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 Owner Trustee Agreements, except as expressly required by the terms of any of the Owner Trustee Agreements, or (to the extent not inconsistent with the provisions of the Trust Indenture) as expressly provided by the terms hereof or in a written instruction from Owner Participant received pursuant to the terms of Section 5.1 or 5.2, and no implied duties or obligations shall be read into this Trust Agreement against Owner Trustee. First Security Bank 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 hereunder or under the Participation Agreement), 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 7.3.1 of the Participation Agreement and otherwise comply with the terms of said Section binding upon it.

Appears in 1 contract

Samples: Trust Agreement (Continental Airlines Inc /De/)

No Duties Except as Specified. NO ACTION EXCEPT AS SPECIFIED. (a) NO DUTIES EXCEPT AS SPECIFIED. 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 Owner Trustee AgreementsOperative Documents, except as expressly required by the terms of any of the Owner Trustee AgreementsOperative Document, or (to the extent not inconsistent with the provisions of the Trust Indenture) as expressly provided by the terms hereof or in a written instruction from Owner Participant Beneficiary received pursuant to the terms of Section 5.1 5.01 or 5.25.02, and no implied duties or obligations shall be read into this Trust Agreement against Owner Trustee. First Security WFB 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 hereunder or under the Participation AgreementLease), promptly take such action as may be necessary to duly discharge and satisfy in full all Lessor Lessors Liens attributable to it in its individual capacity which that it is required to discharge pursuant to Section 7.3.1 7.02 of the Participation Agreement Lease and otherwise comply with the terms of said Section 7.02 binding upon it.

Appears in 1 contract

Samples: Trust Agreement (Republic Airways Holdings Inc)

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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 Airframe N608FF or any other part of the Trust Estate Estate, or 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 Agreementsis a party, except as expressly required by the terms of any of the Operative Documents to which the Owner Trustee Agreementsis 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 instruction from the Owner Participant received pursuant to the terms of Section 5.1 5.01 or 5.25.02, and no implied duties or obligations shall be read into this Trust Agreement against the Owner Trustee. First Security 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 hereunder or under the Participation AgreementSection 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 7.3.1 of the Participation Agreement Lease and otherwise comply with the terms of said Section binding upon it.

Appears in 1 contract

Samples: Trust Agreement (Tower Air Inc)

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