Common use of No Duties Clause in Contracts

No Duties. Except as Specified in this Agreement or in Instructions. The Owner Trustee 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 Estate, or to otherwise take or refrain from taking any action under, or in connection with, any document contemplated hereby to which the Issuer or the Owner Trustee is a party, except as expressly provided by the terms of this Agreement or in any document or written instruction received by the Owner Trustee pursuant to Section 6.3; and no implied duties (including fiduciary duties existing at law or in equity) or obligations shall be read into this Agreement or any Transaction Document against the Owner Trustee. The Owner Trustee shall have no responsibility for filing any financing or continuation 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 hereunder or to prepare or file any Commission filing (including any filings required under the Xxxxxxxx-Xxxxx Act), for the Issuer or to record this Agreement or any Transaction Document. BNY Mellon Trust of Delaware nevertheless agrees that it will, at its own cost and expense, promptly take all action as may be necessary to discharge any Liens on any part of the Trust Estate that result from actions by, or claims against, BNY Mellon Trust of Delaware that are not related to the ownership or the administration of the Trust Estate. The Owner Trustee shall have no responsibility or liability for or with respect to the genuineness, value, sufficiency or validity of the Trust Estate.

Appears in 8 contracts

Samples: Trust Agreement (Capital One Auto Receivables LLC), Trust Agreement (Capital One Prime Auto Receivables Trust 2022-1), Trust Agreement (Capital One Prime Auto Receivables Trust 2021-1)

AutoNDA by SimpleDocs

No Duties. Except as Specified in this Agreement the Transaction Documents or in Instructions. Instructions The Owner Trustee 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 Owner Trust Estate, or to otherwise take or refrain from taking any action under, or in connection with, any document contemplated hereby to which the Issuer Owner Trustee or the Owner Trustee Trust is a party, except as expressly provided by the terms of this Agreement Agreement, any Transaction Document to which the Owner Trustee is a Party or in any document or written instruction received by the Owner Trustee pursuant to Section 6.3; and no implied duties (including fiduciary duties existing at law or in equity) or obligations shall be read into this Agreement or any Transaction Document against the Owner Trustee. The Owner Trustee shall have no responsibility for filing any financing or continuation statement in any public office at any time anytime or to otherwise perfect or maintain the perfection of any security interest or Lien lien granted to it hereunder or to prepare prepare, execute or file any tax or Securities and Exchange Commission filing (including any filings required under the Xxxxxxxx-Xxxxx Act), for the Issuer Trust or to record this Agreement or any Transaction Document. BNY Mellon Trust of Delaware The Owner Trustee nevertheless agrees that it will, at its own cost and expense, promptly take all action as may be necessary to discharge any Liens liens on any part of the Owner Trust Estate that result from actions by, or claims against, BNY Mellon Trust of Delaware the Owner Trustee in its individual capacity that are not related to the ownership or the administration of the Trust Estate. The Owner Trustee shall have no responsibility or liability for or with respect to the genuineness, value, sufficiency or validity of the Trust Estate.

Appears in 7 contracts

Samples: Trust Agreement (First Horizon Asset Securities Inc), Trust Agreement (Fund America Investors Corp Ii), Trust Agreement (First Horizon Asset Sec HELOC Notes Ser 2006-He2)

No Duties. Except as Specified in this Agreement or in Instructions. The Owner Trustee 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 Owner Trust Estate, or to otherwise take or refrain from taking any action under, or in connection with, any document contemplated hereby to which the Issuer Owner Trustee or the Owner Trustee Trust is a party, except as expressly provided by the terms of this Agreement or in any document or written instruction received by the Owner Trustee pursuant to Section 6.3; and no implied duties (including fiduciary duties existing at law or in equity) or obligations shall be read into this Agreement or any Transaction other Basic Document against the Owner Trustee. The Owner Trustee shall have no responsibility for filing any financing or continuation 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 hereunder or to prepare or file any Commission filing (including any filings required under the Xxxxxxxx-Xxxxx Act), for the Issuer Trust or to record this Agreement or any Transaction other Basic Document. BNY Mellon Trust Notwithstanding any Person's right to instruct the Owner Trustee, neither the Owner Trustee nor any agent, employee, director or officer of Delaware the Owner Trustee shall have any obligation to execute any certificates or other documents required pursuant to the Sarbanes-Oxley Act of 2002 or the rules and regulations promulgated xxxxxxxxxx, xnd the refusal to comply with any such instructions shall not constitute a default or breech under any Basic Document. The Owner Trustee nevertheless agrees that it will, at its own cost and expense, promptly take all action as may be necessary to discharge any Liens Lien (other than the Lien of the Indenture) on any part of the Owner Trust Estate that result results from actions by, or claims against, BNY Mellon Trust of Delaware the Owner Trustee that are not related to the ownership or the administration of the Trust Estate. The Owner Trustee shall have no responsibility or liability for or with respect to the genuineness, value, sufficiency or validity of the Trust Estate.

Appears in 7 contracts

Samples: Trust Agreement (Usaa Acceptance LLC Trust 2004-1), Trust Agreement (Usaa Auto Owner Trust 2005-2), Trust Agreement (USAA Auto Owner Trust 2006-4)

No Duties. Except as Specified in this Agreement or in Instructions. The Owner Trustee 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 Owner Trust Estate, or to otherwise take or refrain from taking any action under, or in connection with, any document contemplated hereby Basic Document to which the Issuer or the Owner Trustee is a partyparty or otherwise contemplated hereby, except as expressly provided by the terms of this Agreement Agreement, any Basic Document to which the Trust is a party or in any document or written instruction received by the Owner Trustee pursuant to Section 6.3; and no 6.03. No implied duties (including fiduciary duties existing at law or in equity) or obligations shall be read into this Agreement or any Transaction Basic Document against the Owner Trustee. The Owner Trustee shall have no responsibility for filing any financing or continuation statement in any public office at any time or otherwise to otherwise perfect or maintain the perfection of any security interest or Lien lien granted to it hereunder or to prepare or file any Securities and Exchange Commission filing (including any filings required under the Xxxxxxxx-Xxxxx Act), for the Issuer Trust or to record this Agreement or any Transaction Basic Document. BNY Mellon Notwithstanding anything to the contrary herein or in any Basic Document, the Owner Trustee shall not be required to execute, deliver or certify on behalf of the Trust or any other Person any filings, certificates, affidavits or other instruments required under the Xxxxxxxx-Xxxxx Act of Delaware 2002, to the extent permitted by applicable law. The Owner Trustee nevertheless agrees that it will, at its own cost and expense, promptly take all action as may be necessary to discharge any Liens liens on any part of the Owner Trust Estate that result from actions by, or claims against, BNY Mellon Trust of Delaware the Owner Trustee that are not related to the ownership or the administration of the Trust Estate. The Owner Trustee shall have no responsibility or liability for or with respect to the genuineness, value, sufficiency or validity of the Trust Estate.

Appears in 6 contracts

Samples: Trust Agreement (Nissan Auto Receivables 2004-a Owner Trust), Trust Agreement (Nissan Auto Receivables 2003-C Owner Trust), Trust Agreement (Nissan Auto Receivables Corp Ii)

No Duties. Except as Specified in this Agreement Agreement, the Basic Documents or in any Instructions. . (a) The Owner Trustee 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 Owner Trust Estate, or to otherwise take or refrain from taking any action under, or in connection with, this Agreement or any document contemplated hereby to which the Issuer or the Owner Trustee Issuing Entity is a party, except as expressly provided by the terms of this Agreement Agreement, any other Basic Document or in any document or written instruction received by the Owner Trustee pursuant to Section 6.37.03; and no implied duties (including fiduciary duties existing at law or in equity) or obligations shall be read into this Agreement or any Transaction other Basic Document against the Owner Trustee. The Owner Trustee shall have no responsibility for filing any tax document, financing or continuation statement in any public office at any time or to otherwise perfect or maintain the perfection of any security interest or Lien lien granted to it hereunder or to prepare or file any Securities and Exchange Commission filing (including any filings required under the Xxxxxxxx-Xxxxx Act), for the Issuer Issuing Entity or to record this Agreement or any Transaction other Basic Document. BNY Mellon Trust of Delaware The Owner Trustee nevertheless agrees that it will, at its own cost and expense, promptly take all action as may be necessary to discharge any Liens liens on any part of the Owner Trust Estate that result from actions by, or claims against, BNY Mellon Trust of Delaware the Owner Trustee in its individual capacity that are not related to the ownership or the administration of the Owner Trust Estate. (b) Notwithstanding anything to the contrary herein or in any other document, the Owner Trustee shall not be required to execute, deliver or certify on behalf of the Issuing Entity or any other Person any filings, certificates, affidavits or other instruments required under the Xxxxxxxx-Xxxxx Act of 2002. The Notwithstanding any Person’s right to instruct the Owner Trustee, neither the Owner Trustee nor any agent, employee, director or officer of the Owner Trustee shall have no responsibility any obligation to execute any certificates or liability for or with respect other documents required pursuant to the genuinenessXxxxxxxx-Xxxxx Act of 2002 or the rules and regulations promulgated thereunder, value, sufficiency and the refusal to comply with any such instructions shall not constitute a default or validity of the Trust Estatebreach under any Basic Document.

Appears in 6 contracts

Samples: Trust Agreement (Accredited Mortgage Loan REIT Trust), Trust Agreement (Accredited Mortgage Loan REIT Trust), Trust Agreement (NovaStar Certificates Financing CORP)

No Duties. Except as Specified in this Agreement under Specified Documents or in Instructions. The Owner Trustee 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 Estate, or to otherwise take or refrain from taking any action under, or in connection with, any document contemplated hereby to which the Issuer Owner Trustee or the Owner Trustee Trust is a party, except as expressly provided by (i) in accordance with the terms of powers granted to and the authority conferred upon the Owner Trustee pursuant to this Agreement or Agreement, and (ii) in accordance with any document or written instruction received by delivered to the Owner Trustee pursuant to Section 6.35.03; and no implied duties (including fiduciary duties existing at law or in equity) or obligations shall be read into this Agreement or any Transaction Document Operative Agreement against the Owner Trustee. Without limiting the foregoing, unless specifically enumerated in any Operative Agreement to which the Owner Trustee is party, the Owner Trustee (i) shall have no duty or obligation to execute, file or deliver, or cause the preparation, filing or delivery by other persons of, any such documents, reports, filings, instruments, certificates or opinions as it shall be the duty of the Trust to prepare, file or deliver pursuant to the Operative Agreements, (ii) shall have no duty or obligation to take, or refrain from taking, any action that is the duty or the obligation of the Trust pursuant to the Operative Agreements and (iii) shall have no duty or obligation to monitor the Trust's duties and obligations pursuant to the Operative Agreements nor ensure that such duties and obligations are fulfilled by the Trust. The Owner Trustee shall have no responsibility for filing any financing or continuation statement in any public office at any time or to otherwise perfect or maintain the perfection of any security interest or Lien lien granted to it hereunder the Trust or to prepare or file any Securities and Exchange Commission filing (including any filings required under the Xxxxxxxx-Xxxxx Act), for the Issuer Trust or to record this Agreement or any Transaction DocumentOperative Agreement or to prepare or file any tax return for the Trust. BNY Mellon Trust of Delaware The Owner Trustee nevertheless agrees that it will, at its own cost and expense, promptly take all action as may be necessary to discharge any Liens liens on any part of the Trust Estate that result from actions by, or claims against, BNY Mellon Trust of Delaware against the Bank that are not related to the ownership or the administration of the Trust Estate. The Owner Trustee shall have no responsibility or liability for or with respect to the genuineness, value, sufficiency or validity of the Trust Estate.

Appears in 6 contracts

Samples: Trust Agreement (Cwalt Inc), Trust Agreement (Fieldstone Mortgage Investment CORP), Trust Agreement (Aames Mortgage Investment Trust 2005-2)

No Duties. Except as Specified in this Agreement Trust Agreement, any other Basic Document or in Instructions. . (a) The Owner Delaware Trustee shall not have any duty or obligation to manage, make any payment with respect to, register, record, sell, service, dispose of, of or otherwise deal with the Trust Estate, or to otherwise take or refrain from taking any action under, or in connection with, any document contemplated hereby to which the Issuer or the Owner Delaware Trustee is a party, except as expressly provided by the terms of this Agreement Trust Agreement, or in any document or written instruction received by the Owner Delaware Trustee pursuant to Section 6.36.03 hereof; and no implied duties (including fiduciary duties existing at law or in equity) or obligations shall be read into this Trust Agreement or any Transaction other Basic Document against the Owner Delaware Trustee. The Owner Delaware Trustee shall have no responsibility for filing any financing or continuation statement in any public office at any time or to otherwise perfect or maintain the perfection of any security interest or Lien lien granted to it hereunder or to prepare or file any Commission filing (including any filings required under the Xxxxxxxx-Xxxxx Act), for the Issuer Trust or to record this Trust Agreement or any Transaction other Basic Document. BNY Mellon Trust of The Delaware Trustee nevertheless agrees that it will, at its own cost and expense, promptly take all action as may be necessary to discharge any Liens liens on any part of the Trust Estate that result from actions by, or claims against, BNY Mellon Trust of Delaware against it in its individual capacity that are not related to the ownership or the administration of the Trust Estate. (b) The duties and responsibilities of the Delaware Trustee shall be as provided by this Trust Agreement. No provision of this Trust Agreement shall require the Delaware Trustee to expand or risk its own funds or otherwise incur any financial liability in the performance of any of its duties hereunder, or in the exercise of any of its rights or powers, if it shall have reasonable grounds for believing that repayment of such funds or adequate indemnity against such risk or liability is not reasonably assured to it. The Owner Delaware Trustee shall have no responsibility not be liable for its acts or liability for omissions hereunder except as a result of gross negligence or with respect willful misconduct. To the extent that, at law or in equity, the Delaware Trustee has duties (including fiduciary duties) and liabilities relating thereto to the genuinenessTrust or to the Certificateholders, valuethe Delaware Trustee shall not be liable to the Trust or to any Certificateholder for the Delaware Trustee’s good faith reliance on the provisions of this Trust Agreement. The provisions of this Trust Agreement, sufficiency or validity to the extent that they restrict the duties and liabilities of the Trust EstateDelaware Trustee otherwise existing at law or in equity, are agreed by the Depositor and the Certificateholders to replace such other duties and liabilities of the Delaware Trustee.

Appears in 5 contracts

Samples: Trust Agreement (Higher Education Funding I), Trust Agreement (Goal Capital Funding, LLC), Trust Agreement (Higher Education Funding I)

No Duties. Except as Specified in this Agreement or in Instructions. The Owner Trustee 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 Owner Trust Estate, or to otherwise take or refrain from taking any action under, or in connection with, any document contemplated hereby to which the Issuer Owner Trustee or the Owner Trustee Trust is a party, except as expressly provided by the terms of this Agreement or in any document or written instruction received by the Owner Trustee pursuant to Section 6.3; and no implied duties (including fiduciary duties existing at law or in equity) or obligations shall be read into this Agreement or any Transaction other Basic Document against the Owner Trustee. The Owner Trustee shall have no responsibility for filing any financing or continuation 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 hereunder or to prepare or file any Commission filing (including any filings required under the Xxxxxxxx-Xxxxx Act), for the Issuer Trust or to record this Agreement or any Transaction other Basic Document. BNY Mellon Trust Notwithstanding any Person's right to instruct the Owner Trustee, neither the Owner Trustee nor any agent, employee, director or officer of Delaware the Owner Trustee shall have any obligation to execute any certificates or other documents required pursuant to the Sarbanes-Oxley Act of 2002 or the rules and regulations promulgated xxxxxxxxxx, xxd the refusal to comply with any such instructions shall not constitute a default or breech under any Basic Document. The Owner Trustee nevertheless agrees that it will, at its own cost and expense, promptly take all action as may be necessary to discharge any Liens Lien (other than the Lien of the Indenture) on any part of the Owner Trust Estate that result results from actions by, or claims against, BNY Mellon Trust of Delaware the Owner Trustee that are not related to the ownership or the administration of the Trust Estate. The Owner Trustee shall have no responsibility or liability for or with respect to the genuineness, value, sufficiency or validity of the Trust Estate.

Appears in 4 contracts

Samples: Trust Agreement (Usaa Auto Owner Trust 2004-3), Trust Agreement (USAA Auto Owner Trust 2006-3), Trust Agreement (Usaa Acceptance LLC)

No Duties. Except as Specified in this Agreement Agreement, the Basic Documents or in any Instructions. . (a) The Owner Trustee 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 Owner Trust Estate, or to otherwise take or refrain from taking any action under, or in connection with, this Agreement or any document contemplated hereby to which the Issuer or the Owner Trustee Trust is a party, except as expressly provided by the terms of this Agreement Agreement, any other Basic Document or in any document or written instruction received by the Owner Trustee pursuant to Section 6.37.03; and no implied duties (including fiduciary duties existing at law or in equity) or obligations shall be read into this Agreement or any Transaction other Basic Document against the Owner Trustee. The Owner Trustee shall have no responsibility for filing any tax document, financing or continuation statement in any public office at any time or to otherwise perfect or maintain the perfection of any security interest or Lien lien granted to it hereunder or to prepare or file any Securities and Exchange Commission filing (including any filings required under the Xxxxxxxx-Xxxxx Act), for the Issuer Trust or to record this Agreement or any Transaction other Basic Document. BNY Mellon Trust of Delaware The Owner Trustee nevertheless agrees that it will, at its own cost and expense, promptly take all action as may be necessary to discharge any Liens liens on any part of the Owner Trust Estate that result from actions by, or claims against, BNY Mellon Trust of Delaware the Owner Trustee in its individual capacity that are not related to the ownership or the administration of the Owner Trust Estate. (b) Notwithstanding anything to the contrary herein or in any other document, the Owner Trustee shall not be required to execute, deliver or certify on behalf of the Trust or any other Person any filings, certificates, affidavits or other instruments required under the Xxxxxxxx-Xxxxx Act of 2002. The Notwithstanding any Person’s right to instruct the Owner Trustee, neither the Owner Trustee nor any agent, employee, director or officer of the Owner Trustee shall have no responsibility any obligation to execute any certificates or liability for or with respect other documents required pursuant to the genuinenessXxxxxxxx-Xxxxx Act of 2002 or the rules and regulations promulgated thereunder, value, sufficiency and the refusal to comply with any such instructions shall not constitute a default or validity of the Trust Estatebreach under any Basic Document.

Appears in 3 contracts

Samples: Trust Agreement (Accredited Mortgage Loan REIT Trust), Trust Agreement (Accredited Mortgage Loan Trust 2004-2), Trust Agreement (Accredited Mortgage Loan Trust 2005-1)

No Duties. Except as Specified in this Agreement or in Instructions. The Owner Trustee 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 Estate, or to otherwise take or refrain from taking any action under, or in connection with, any document contemplated hereby to which the Issuer or the Owner Trustee is a party, except as expressly provided by the terms of this Agreement or in any document or written instruction received by the Owner Trustee pursuant to Section 6.3; and no implied duties (including fiduciary duties existing at law or in equity) or obligations shall be read into this Agreement or any Transaction Document against the Owner Trustee. The Owner Trustee shall have no responsibility for filing any financing or continuation 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 hereunder or to prepare or file any Commission filing (including any filings required under the Xxxxxxxx-Xxxxx Act), for the Issuer or to record this Agreement or any Transaction Document. BNY Mellon Trust of Delaware Citibank nevertheless agrees that it will, at its own cost and expense, promptly take all action as may be necessary to discharge any Liens on any part of the Trust Estate that result from actions by, or claims against, BNY Mellon Trust of Delaware Citibank that are not related to the ownership or the administration of the Trust Estate. The Owner Trustee shall have no responsibility or liability for or with respect to the genuineness, value, sufficiency or validity of the Trust Estate.

Appears in 3 contracts

Samples: Trust Agreement (Huntington Auto Trust 2016-1), Trust Agreement (Huntington Auto Trust 2016-1), Trust Agreement (Huntington Funding, LLC)

No Duties. Except as Specified in this Agreement or in Instructions. The Owner Trustee 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 Estate, or to otherwise take or refrain from taking any action under, or in connection with, any document contemplated hereby to which the Issuer or the Owner Trustee is a party, except as expressly provided by the terms of this Agreement or in any document or written instruction received by the Owner Trustee pursuant to Section 6.3; and no implied duties (including fiduciary duties existing at law or in equity) or obligations shall be read into this Agreement or any Transaction Document against the Owner Trustee. The Owner Trustee shall have no responsibility for filing any financing or continuation 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 hereunder or to prepare or file any Commission filing (including any filings required under the Xxxxxxxx-Xxxxx Act), ) for the Issuer or to record this Agreement or any Transaction Document. BNY Mellon Trust of Delaware Wilmington Trust, National Association nevertheless agrees that it will, at its own cost and expense, promptly take all action as may be necessary to discharge any Liens on any part of the Trust Estate that result from actions by, or claims against, BNY Mellon Trust of Delaware Wilmington Trust, National Association that are not related to the ownership or the administration of the Trust Estate. The Owner Trustee shall have no responsibility or liability for or with respect to the genuineness, value, sufficiency or validity of the Trust Estate.

Appears in 3 contracts

Samples: Trust Agreement (Fifth Third Auto Trust 2015-1), Trust Agreement (Fifth Third Auto Trust 2013-1), Trust Agreement (Fifth Third Auto Trust 2013-A)

No Duties. Except as Specified in this Deposit Trust Agreement or in Instructions. . (a) The Owner Trustee shall not have any duty or obligation to manage, control, use, make any payment with in respect toof, register, record, insure, inspect, sell, dispose of, of or otherwise deal with the Mortgage Loans or any other part of the Trust Estate, or to otherwise take or refrain from taking any action under, under or in connection with, with any document contemplated hereby Operative Agreement to which the Issuer or the Owner Trustee is a party, except as expressly provided by the terms of this Deposit Trust Agreement or any such other Operative Agreement or in any document or written instruction instructions from the Certificateholders received by the Owner Trustee pursuant to Section 6.35.1(b); and no implied duties (including fiduciary duties existing at law or in equity) or obligations shall be read into this Deposit Trust Agreement or any Transaction Document against the Owner Trustee, other than the obligation of the Owner Trustee to exercise such of the rights and powers vested in it by this Deposit Trust Agreement in good faith and in a manner which is not grossly negligent and which does not constitute willful misconduct. The Owner Trustee shall have no responsibility for filing [Bank] (and any financing successor trustee or continuation statement co-trustee) in any public office at any time or to otherwise perfect or maintain the perfection of any security interest or Lien granted to it hereunder or to prepare or file any Commission filing (including any filings required under the Xxxxxxxx-Xxxxx Act), for the Issuer or to record this Agreement or any Transaction Document. BNY Mellon Trust of Delaware its individual capacity nevertheless agrees that it will, at its own cost and expense, promptly take all action as may be necessary to discharge any Liens on the Trust Estate arising by, through or under the Owner Trustee (or such successor trustee or co-trustee, as the case may be) either (i) when acting in its individual capacity or (ii) when acting improperly in its capacity as Owner Trustee. (b) Without limiting the generality of the foregoing subsection (a), except as otherwise explicitly provided in this Deposit Trust Agreement or in any other Operative Agreement to which it is a party, neither the Owner Trustee nor the [Bank] shall have any duty to (i) file or record any Operative Agreement or any other document, or to maintain or continue any such filing or recording or to refile or rerecord any such document, (ii) pay or discharge any tax or any Lien owing with respect to or assessed or levied against any part of the Trust Estate that result from actions byEstate, other than to forward notice of such tax or Lien received by the Owner Trustee to the Certificateholders and the Indenture Trustee, (iii) confirm, verify, investigate or inquire into the failure of any party to receive any reports or financial statements in connection with the Mortgage Loans, (iv) ascertain or inquire as to the performance or observance of any Person under or of any of the Operative Agreements, or claims against(v) manage, BNY Mellon Trust control, sell, dispose of Delaware that are not related to or otherwise deal with the ownership Mortgage Loans or the administration of the Trust Estate. The Owner Trustee shall have no responsibility any part hereof or liability for or with respect to the genuineness, value, sufficiency or validity any other part of the Trust Estate.

Appears in 3 contracts

Samples: Deposit Trust Agreement (Criimi Mae CMBS Corp), Deposit Trust Agreement (Imperial Credit Commercial Mortgage Acceptance Corp), Deposit Trust Agreement (Criimi Mae CMBS Corp)

No Duties. Except as Specified in this Agreement under Specified Documents or in Instructions. The Owner Trustee 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 Owner Trust Estate, or to otherwise take or refrain from taking any action under, or in connection with, any document contemplated hereby to which the Issuer or the Owner Trustee is a party, except as expressly provided by (a) in accordance with the terms of powers granted to and the authority conferred upon the Owner Trustee pursuant to this Agreement or Trust Agreement, (b) in accordance with the Basic Documents and (c) in accordance with any document or written instruction received by delivered to the Owner Trustee pursuant to Section 6.34.03; and no implied duties (including fiduciary duties existing at law or in equity) or obligations shall be read into this Trust Agreement or any Transaction Basic Document against the Owner Trustee. The Owner Trustee shall have no responsibility for filing (i) to file any financing or continuation statement in any public office at any time or time, (ii) to otherwise perfect or maintain the perfection of any security interest or Lien lien granted to it hereunder hereunder, (iii) to record this Trust Agreement or any Basic Document or (iv) to prepare or file any Securities and Exchange Commission filing (including any filings required under the Xxxxxxxx-Xxxxx Act), for the Issuer or to record this Agreement or any Transaction DocumentTrust. BNY Mellon Trust of Delaware The Owner Trustee nevertheless agrees that it will, at its own cost and expense, promptly take all action as may be necessary to discharge any Liens liens on any part of the Owner Trust Estate that result from actions by, or claims against, BNY Mellon Trust of Delaware the Owner Trustee that are not related to the ownership or the administration of the Trust Estate. The Owner Trustee shall have no responsibility or liability for or with respect to the genuineness, value, sufficiency or validity of the Trust Estate.

Appears in 3 contracts

Samples: Trust Agreement (Novastar Mortgage Funding Corp), Trust Agreement (Novastar Mortgage Funding Corp), Trust Agreement (Novastar Mortgage Funding Corp)

No Duties. Except as Specified in this Agreement, the Loan Sale Agreement, the Servicing Agreement, the Administration Agreement or in Instructions. The Owner Eligible Lender Trustee shall not have any duty or obligation to manage, make any payment with respect to, register, record, sell, service, dispose of, of or otherwise deal with the Trust Estate, or to otherwise take or refrain from taking any action under, or in connection with, any document contemplated hereby to which the Issuer or the Owner Eligible Lender Trustee is a party, except as expressly provided by the terms of this Agreement, the Loan Sale Agreement, the Servicing Agreement, the Administration Agreement or in any document or written instruction received by the Owner Eligible Lender Trustee pursuant to Section 6.36.03; and no implied duties (including fiduciary duties existing at law or in equity) or obligations shall be read into this Agreement or any Transaction other Basic Document against the Owner Eligible Lender Trustee. The Owner Eligible Lender Trustee shall have no responsibility for filing any financing or continuation statement in any public office at any time or to otherwise perfect or maintain the perfection of any security interest or Lien lien granted to it hereunder or to prepare or file any Commission filing (including any filings required under the Xxxxxxxx-Xxxxx Act), for the Issuer Trust or to record this Agreement or any Transaction other Basic Document. BNY Mellon Trust of Delaware The Eligible Lender Trustee nevertheless agrees that it will, at its own cost and expense, promptly take all action as may be necessary to discharge any Liens liens on any part of the Trust Estate that result from actions by, or claims against, BNY Mellon Trust The First National Bank of Delaware Chicago in its individual capacity or as the Eligible Lender Trustee that are not related to the ownership or the administration of the Trust Estate. The Owner Trustee shall have no responsibility or liability for or with respect to the genuineness, value, sufficiency or validity of the Trust Estate.

Appears in 2 contracts

Samples: Trust Agreement (Usa Group Secondary Market Services Inc), Trust Agreement (Usa Group Secondary Market Services Inc)

No Duties. Except as Specified in this Agreement or in Instructions. The Owner Trustee 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 Estate, or to otherwise take or refrain from taking any action under, or in connection with, any document contemplated hereby to which the Issuer or the Owner Trustee is a party, except as expressly provided by the terms of this Agreement or in any document or written instruction received by the Owner Trustee pursuant to Section 6.3; and no implied duties (including fiduciary duties existing at law or in equity) or obligations shall be read into this Agreement or any Transaction Document against the Owner Trustee. The Owner Trustee shall have no responsibility for filing any financing or continuation statement in any public office at any time or to otherwise perfect or maintain the perfection of any security interest or Lien Xxxx granted to it hereunder or to prepare or file any Commission filing (including any filings required under the Xxxxxxxx-Xxxxx Act), for the Issuer or to record this Agreement or any Transaction Document. BNY Mellon Trust of Delaware nevertheless agrees that it will, at its own cost and expense, promptly take all action as may be necessary to discharge any Liens on any part of the Trust Estate that result from actions by, or claims against, BNY Mellon Trust of Delaware that are not related to the ownership or the administration of the Trust Estate. The Owner Trustee shall have no responsibility or liability for or with respect to the genuineness, value, sufficiency or validity of the Trust Estate.

Appears in 2 contracts

Samples: Trust Agreement (Capital One Prime Auto Receivables Trust 2023-1), Trust Agreement (Capital One Prime Auto Receivables Trust 2023-1)

No Duties. Except as Specified in this Agreement, the Loan Sale Agreement, the Servicing Agreement, the Administration Agreement or in Instructions. The Owner Eligible Lender Trustee shall not have any duty or obligation to manage, make any payment with respect to, register, record, sell, service, dispose of, of or otherwise deal with the Trust Estate, or to otherwise take or refrain from taking any action under, or in connection with, any document contemplated hereby to which the Issuer or the Owner Eligible Lender Trustee is a party, except as expressly provided by the terms of this Agreement, the Loan Sale Agreement, the Servicing Agreement, the Administration Agreement or in any document or written instruction received by the Owner Eligible Lender Trustee pursuant to Section 6.36.03; and no implied duties (including fiduciary duties existing at law or in equity) or obligations shall be read into this Agreement or any Transaction other Basic Document against the Owner Eligible Lender Trustee. The Owner Eligible Lender Trustee shall have no responsibility for filing any financing or continuation statement in any public office at any time or to otherwise perfect or maintain the perfection of any security interest or Lien lien granted to it hereunder or to prepare or file any Commission filing (including any filings required under the Xxxxxxxx-Xxxxx Act), for the Issuer Trust or to record this Agreement or any Transaction other Basic Document. BNY Mellon Trust of Delaware The Eligible Lender Trustee nevertheless agrees that it will, at its own cost and expense, promptly take all action as may be necessary to discharge any Liens liens on any part of the Trust Estate that result from actions by, or claims against, BNY Mellon Trust of Delaware Bank One in its individual capacity or as the Eligible Lender Trustee that are not related to the ownership or the administration of the Trust Estate. The Owner Trustee shall have no responsibility or liability for or with respect to the genuineness, value, sufficiency or validity of the Trust Estate.

Appears in 2 contracts

Samples: Trust Agreement (Wells Fargo Student Loans Receivables I LLC), Trust Agreement (Wells Fargo Student Loans Receivables I LLC)

No Duties. Except as Specified in this Agreement, the Loan Sale Agreement, the Servicing Agreement, the Administration Agreement or in Instructions. The Owner Eligible Lender Trustee shall not have any duty or obligation to manage, make any payment with respect to, register, record, sell, service, dispose of, of or otherwise deal with the Trust Estate, or to otherwise take or refrain from taking any action under, or in connection with, any document contemplated hereby to which the Issuer or the Owner Eligible Lender Trustee is a party, except as expressly provided by the terms of this Agreement, the Loan Sale Agreement, the Servicing Agreement, the Administration Agreement or in any document or written instruction received by the Owner Eligible Lender Trustee pursuant to Section 6.36.03; and no implied duties (including fiduciary duties existing at law or in equity) or obligations shall be read into this Agreement or any Transaction other Basic Document against the Owner Eligible Lender Trustee. The Owner Eligible Lender Trustee shall have no responsibility for filing any financing or continuation statement in any public office at any time or to otherwise perfect or maintain the perfection of any security interest or Lien lien granted to it hereunder or to prepare or file any Commission filing (including any filings required under the Xxxxxxxx-Xxxxx Act), for the Issuer Trust or to record this Agreement or any Transaction other Basic Document. BNY Mellon Trust of Delaware The Eligible Lender Trustee nevertheless agrees that it will, at its own cost and expense, promptly take all action as may be necessary to discharge any Liens liens on any part of the Trust Estate that result from actions by, or claims against, BNY Mellon Trust of Delaware [ ] in its individual capacity or as the Eligible Lender Trustee that are not related to the ownership or the administration of the Trust Estate. The Owner Trustee shall have no responsibility or liability for or with respect to the genuineness, value, sufficiency or validity of the Trust Estate.

Appears in 2 contracts

Samples: Trust Agreement (Goldman Sachs Asset Backed Securities Corp), Trust Agreement (Gs Mortgage Securities Corp)

No Duties. Except as Specified in this Agreement or in Instructions. The Owner Trustee 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 Estate, or to otherwise take or refrain from taking any action under, or in connection with, any document contemplated hereby to which the Issuer or the Owner Trustee is a party, except as expressly provided by the terms of this Agreement or in any document or written instruction received by the Owner Trustee pursuant to Section 6.3; and no implied duties (including fiduciary duties existing at law or in equity) or obligations shall be read into this Agreement or any Transaction Document against the Owner Trustee. The Owner Trustee shall have no responsibility for filing any financing or continuation 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 hereunder or to prepare or file any Commission filing (including any filings required under the Xxxxxxxx-Xxxxx Act), ) for the Issuer or to record this Agreement or any Transaction Document. BNY The Bank of New York Mellon Trust of Delaware nevertheless agrees that it will, at its own cost and expense, promptly take all action as may be necessary to discharge any Liens on any part of the Trust Estate that result from actions by, or claims against, BNY The Bank of New York Mellon Trust of Delaware that are not related to the ownership or the administration of the Trust Estate. The Owner Trustee shall have no responsibility or liability for or with respect to the genuineness, value, sufficiency or validity of the Trust Estate.

Appears in 2 contracts

Samples: Trust Agreement (Fifth Third Auto Trust 2019-1), Trust Agreement (Fifth Third Auto Trust 2019-1)

No Duties. Except as Specified in this Agreement or in Instructions. The Neither the Owner Trustee, the Co-Owner Trustee nor the Trust Eligible Lender Trustee shall not have any duty or obligation to manage, make any payment with respect to, register, record, sell, dispose of, of or otherwise deal with the Trust EstateProperty, or to otherwise take or refrain from taking any action under, or in connection with, any document contemplated hereby to which the Issuer or the Owner Trustee any one of them is a party, except as expressly provided by the terms of this Agreement (including as provided in Section 6.2), in any Basic Document or in any document or written instruction received by the Co-Owner Trustee or Trust Eligible Lender Trustee pursuant to Section 6.3; and no implied duties (including fiduciary duties existing at law or in equity) or obligations shall be read into this Agreement or any Transaction Basic Document against the Owner Trustee, the Co-Owner Trustee or the Trust Eligible Lender Trustee. The Neither the Owner Trustee, the Co-Owner Trustee nor the Trust Eligible Lender Trustee shall have no any responsibility for preparing, monitoring or filing any financing or continuation statement statements in any public office at any time or otherwise to otherwise perfect or maintain the perfection of any security interest or Lien lien granted to it hereunder or to prepare or file any Commission filing (including any filings required under the Xxxxxxxx-Xxxxx Act), for the Issuer or to record this Agreement or any Transaction Basic Document. BNY Mellon Each of the Owner Trustee, the Co-Owner Trustee and the Trust of Delaware nevertheless Eligible Lender Trustee, nevertheless, agrees that it will, at its own cost and expenseexpense (and not at the expense of the Trust), promptly take all action as may be necessary to discharge any Liens liens on any part of the Trust Estate Property that result from actions byare attributable to claims against the Owner Trustee, the Co-Owner Trustee or claims againstthe Trust Eligible Lender Trustee in its individual capacity, BNY Mellon Trust of Delaware respectively, that are not related to the ownership or the administration of the Trust Estate. The Owner Trustee shall have no responsibility or liability for or with respect to the genuineness, value, sufficiency or validity of the Trust EstateProperty.

Appears in 2 contracts

Samples: Trust Agreement (Education Capital I LLC), Trust Agreement (Education Funding Capital Trust I)

No Duties. Except as Specified in this Agreement or in Instructions. The Owner Trustee 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 Estate, or to otherwise take or refrain from taking any action under, or in connection with, any document contemplated hereby to which the Issuer or the Owner Trustee is a party, except as expressly provided by the terms of this Agreement or in any document or written instruction received by the Owner Trustee pursuant to Section 6.3; and no implied duties (including fiduciary duties existing at law or in equity) or obligations shall be read into this Agreement or any Transaction Document against the Owner Trustee. The Owner Trustee shall have no responsibility for filing any financing or continuation statement in any public office at any time or to otherwise perfect or maintain the perfection of any security interest or Lien Xxxx granted to it hereunder or to prepare or file any Commission filing (including any filings required under the Xxxxxxxx-Xxxxx Act), for the Issuer or to record this Agreement or any Transaction Document. BNY Mellon Trust of Delaware nevertheless agrees that it will, at its own cost and expense, promptly take all action as may be necessary to discharge any Liens on any part of the Trust Estate that result from actions by, or claims against, BNY Mellon Trust of Delaware that are not related to the ownership or the administration of the Trust Estate. The Owner Trustee shall have no responsibility or liability for or with respect to the genuineness, value, sufficiency or validity of the Trust Estate. Further, the Owner Trustee shall have no responsibility for or liability to determine or monitor the status or applicability of any benchmark, index or other modifier applicable thereto, determine whether a substitute benchmark or index should or could be selected, determine the selection of any such substitute benchmark or index, or exercise any right related to the foregoing on behalf of the Issuer or any other Person.

Appears in 2 contracts

Samples: Trust Agreement (Capital One Prime Auto Receivables Trust 2023-2), Trust Agreement (Capital One Prime Auto Receivables Trust 2023-2)

No Duties. Except as Specified in this Agreement or in Instructions. The Owner Trustee 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 Estate, or to otherwise take or refrain from taking any action under, or in connection with, any document contemplated hereby to which the Issuer or the Owner Trustee is a party, except as expressly provided by the terms of this Agreement or in any document or written instruction received by the Owner Trustee pursuant to Section 6.3; and no implied duties (including fiduciary duties existing at law or in equity) or obligations shall be read into this Agreement or any Transaction Document against the Owner Trustee. The Owner Trustee shall have no responsibility for filing any financing or continuation 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 hereunder or to prepare or file any Commission filing (including any filings required under the Xxxxxxxx-Xxxxx Act), Internal Revenue Service filing (except as expressly contemplated hereby), Financial Crimes Enforcement Network (“FinCEN”) filing or any other regulatory filing or report for the Issuer or to record this Agreement or any Transaction DocumentDocument or to make any determinations regarding or to monitor or enforce the satisfaction of any risk retention or other regulatory requirements. BNY Mellon U.S. Bank Trust of Delaware National Association nevertheless agrees that it will, at its own cost and expense, promptly take all action as may be necessary to discharge any Liens on any part of the Trust Estate that result from actions by, or claims against, BNY Mellon U.S. Bank Trust of Delaware National Association that are not related to the ownership or the administration of the Trust Estate. The Owner Trustee shall have no responsibility or liability for or with respect to the genuineness, value, sufficiency or validity of the Trust Estate.

Appears in 2 contracts

Samples: Trust Agreement (Fifth Third Auto Trust 2023-1), Trust Agreement (Fifth Third Auto Trust 2023-1)

No Duties. Except as Specified in this Agreement Trust Agreement, any other Basic Document or in Instructions. . (a) The Owner Delaware Trustee shall not have any duty or obligation to manage, make any payment with respect to, register, record, sell, service, dispose of, of or otherwise deal with the Trust Estate, or to otherwise take or refrain from taking any action under, or in connection with, any document contemplated hereby to which the Issuer or the Owner Delaware Trustee is a party, except as expressly provided by the terms of this Agreement Trust Agreement, or in any document or written instruction received by the Owner Delaware Trustee pursuant to Section 6.36.03 hereof; and no implied duties (including fiduciary duties existing at law or in equity) or obligations shall be read into this Trust Agreement or any Transaction other Basic Document against the Owner Delaware Trustee. The Owner Delaware Trustee shall have no responsibility for filing any financing or continuation statement in any public office at any time or to otherwise perfect or maintain the perfection of any security interest or Lien lien granted to it hereunder or to prepare or file any Commission filing (including any filings required under the Xxxxxxxx-Xxxxx Act), for the Issuer Trust or to record this Trust Agreement or any Transaction other Basic Document. BNY Mellon Trust of The Delaware Trustee nevertheless agrees that it will, at its own cost and expense, promptly take all action as may be necessary to discharge any Liens liens on any part of the Trust Estate that result from actions by, or claims against, BNY Mellon Trust of Delaware against it in its individual capacity that are not related to the ownership or the administration of the Trust Estate. (b) The duties and responsibilities of the Delaware Trustee shall be as provided by this Trust Agreement. No provision of this Trust Agreement shall require the Delaware Trustee to expand or risk its own funds or otherwise incur any financial liability in the performance of any of its duties hereunder, or in the exercise of any of its rights or powers, if it shall have reasonable grounds for believing that repayment of such funds or adequate indemnity against such risk or liability is not reasonably assured to it. The Owner Delaware Trustee shall have no responsibility not be liable for its acts or liability for omissions hereunder except as a result of gross negligence or with respect willful misconduct. To the extent that, at law or in equity, the Delaware Trustee has duties (including fiduciary duties) and liabilities relating thereto to the genuinenessTrust or to the Certificateholders, valuethe Delaware Trustee shall not be liable to the Trust or to any Certificateholder for the Delaware Trustee's good faith reliance on the provisions of this Trust Agreement. The provisions of this Trust Agreement, sufficiency or validity to the extent that they restrict the duties and liabilities of the Trust EstateDelaware Trustee otherwise existing at law or in equity, are agreed by the Sponsor and the Certificateholders to replace such other duties and liabilities of the Delaware Trustee.

Appears in 2 contracts

Samples: Trust Agreement (College Loan Corp Trust I), Trust Agreement (College Loan Corp Trust I)

No Duties. Except as Specified in this Agreement, the Loan Sale Agreement, the Servicing Agreement, the Administration Agreement or in Instructions. The Owner Eligible Lender Trustee shall not have any duty or obligation to manage, make any payment with respect to, register, record, sell, service, dispose of, of or otherwise deal with the Trust Estate, or to otherwise take or refrain from taking any action under, or in connection with, any document contemplated hereby to which the Issuer or the Owner Eligible Lender Trustee is a party, except as expressly provided by the terms of this Agreement, the Loan Sale Agreement, the Servicing Agreement, the Administration Agreement or in any document or written instruction received by the Owner Eligible Lender Trustee pursuant to Section 6.36.03; and no implied duties (including fiduciary duties existing at law or in equity) or obligations shall be read into this Agreement or any Transaction other Basic Document against the Owner Eligible Lender Trustee. The Owner Eligible Lender Trustee shall have no responsibility for filing any financing or continuation statement in any public office at any time or to otherwise perfect or maintain the perfection of any security interest or Lien lien granted to it hereunder or to prepare or file any Commission filing (including any filings required under the Xxxxxxxx-Xxxxx Act), for the Issuer Trust or to record this Agreement or any Transaction other Basic Document. BNY Mellon Trust of Delaware The Eligible Lender Trustee nevertheless agrees that it will, at its own cost and expense, promptly take all action as may be necessary to discharge any Liens liens on any part of the Trust Estate that result from actions by, or claims against, BNY Mellon Trust of Delaware Bank One, National Association in its individual capacity or as the Eligible Lender Trustee that are not related to the ownership or the administration of the Trust Estate. The Owner Trustee shall have no responsibility or liability for or with respect to the genuineness, value, sufficiency or validity of the Trust Estate.

Appears in 2 contracts

Samples: Trust Agreement (SMS Student Loan Trust 2000-A), Trust Agreement (SMS Student Loan Trust 2000-B)

No Duties. Except as Specified in this Agreement Agreement, the Basic Documents or in any Instructions. . (a) The Owner Trustee 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 Owner Trust Estate, or to otherwise take or refrain from taking any action under, or in connection with, this Agreement or any document contemplated hereby to which the Issuer or the Owner Trustee Trust is a party, except as expressly provided by the terms of this Agreement Agreement, any other Basic Document or in any document or written instruction received by the Owner Trustee pursuant to Section 6.37.03; and no implied duties (including fiduciary duties existing at law or in equity) or obligations shall be read into this Agreement or any Transaction other Basic Document against the Owner Trustee. The Owner Trustee shall have no responsibility for filing any financing or continuation statement in any public office at any time or to otherwise perfect or maintain the perfection of any security interest or Lien lien granted to it hereunder or to prepare or file any Securities and Exchange Commission filing (including any filings required under the Xxxxxxxx-Xxxxx Act), for the Issuer Trust or to record this Agreement or any Transaction other Basic Document. BNY Mellon Trust of Delaware The Owner Trustee nevertheless agrees that it will, at its own cost and expense, promptly take all action as may be necessary to discharge any Liens liens on any part of the Owner Trust Estate that result from actions by, or claims against, BNY Mellon Trust of Delaware the Owner Trustee in its individual capacity that are not related to the ownership or the administration of the Owner Trust Estate. (b) Notwithstanding anything to the contrary herein or in any other document, the Owner Trustee shall not be required to execute, deliver or certify on behalf of the Trust or any other Person any filings, certificates, affidavits or other instruments required under the Xxxxxxxx-Xxxxx Act of 2002. The Notwithstanding any Person’s right to instruct the Owner Trustee, neither the Owner Trustee nor any agent, employee, director or officer of the Owner Trustee shall have no responsibility any obligation to execute any certificates or liability for or with respect other documents required pursuant to the genuinenessXxxxxxxx-Xxxxx Act of 2002 or the rules and regulations promulgated thereunder, value, sufficiency and the refusal to comply with any such instructions shall not constitute a default or validity of the Trust Estatebreach under any Basic Document.

Appears in 2 contracts

Samples: Trust Agreement (Accredited Mortgage Loan Trust 2003-2), Trust Agreement (Accredited Mortgage Loan Trust 2003-3)

No Duties. Except as Specified in this Agreement or in Instructions. The Owner Trustee 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 Owner Trust Estate, or to otherwise take or refrain from taking any action under, or in connection with, any document contemplated hereby Basic Document to which the Issuer or the Owner Trustee is a partyparty or otherwise contemplated hereby, except as expressly provided by the terms of this Agreement Agreement, any Basic Document to which the Trust is a party or in any document or written instruction received by the Owner Trustee pursuant to Section 6.3; and no 6.03. No implied duties (including fiduciary duties existing at law or in equity) or obligations shall be read into this Agreement or any Transaction Basic Document against the Owner Trustee. The Owner Trustee shall have no responsibility for filing any financing or continuation statement in any public office at any time or otherwise to otherwise perfect or maintain the perfection of any security interest or Lien lien granted to it hereunder or to prepare or file any Securities and Exchange Commission filing (including any filings required under the Xxxxxxxx-Xxxxx Act), for the Issuer Trust or to record this Agreement or any Transaction Basic Document. BNY Mellon Notwithstanding anything to the contrary herein or in any Basic Document, the Owner Trustee shall not be required to execute, deliver or certify on behalf of the Trust or any other Person any filings, certificates, affidavits or other instruments required under the Sarbanes-Oxley Act of Delaware 2002, to the extent permitted by applicable law. Xxx Xxxxx Xxxstee nevertheless agrees that it will, at its own cost and expense, promptly take all action as may be necessary to discharge any Liens liens on any part of the Owner Trust Estate that result from actions by, or claims against, BNY Mellon Trust of Delaware the Owner Trustee that are not related to the ownership or the administration of the Trust Estate. The Owner Trustee shall have no responsibility or liability for or with respect to the genuineness, value, sufficiency or validity of the Trust Estate.

Appears in 2 contracts

Samples: Trust Agreement (Nissan Auto Receivables 2003-a Owner Trust), Trust Agreement (Nissan Auto Receivables 2004-B Owner Trust)

No Duties. Except as Specified in this Agreement under Specified Documents or in Instructions. The Owner Trustee 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 Owner Trust Estate, or to otherwise take or refrain from taking any action under, or in connection with, any document contemplated hereby to which the Issuer or the Owner Trustee is a party, except as expressly provided by the terms of this Agreement or in any document or written instruction received by the Owner Trustee pursuant to Section 6.3herein; and no implied duties (including fiduciary duties existing at law or in equity) or obligations shall be read into this Trust Agreement or any Transaction Basic Document against the Owner Trustee. The Owner Trustee shall have no responsibility for filing any financing or continuation statement in any public office at any time or to otherwise perfect or maintain the perfection of any security interest or Lien lien granted to it hereunder or to prepare or file any Securities and Exchange Commission filing (including for the Trust or to record this Trust Agreement or any filings Basic Document. Further, notwithstanding anything to the contrary herein or in any other document, the Owner Trustee shall not be required to execute, deliver or certify on behalf of the Trust, the Servicer, the Depositor or any other Person any filings, certificates, affidavits or other instruments required by the SEC or required under the Xxxxxxxx-Xxxxx Act)Act of 2002. Notwithstanding any Person's right to instruct the Owner Trustee, for neither the Issuer Owner Trustee nor any agent, employee, director or officer of the Owner Trustee shall have any obligation to record execute any certificates or other documents required by the SEC or required pursuant to the Xxxxxxxx-Xxxxx Act of 2002 or the rules and regulations promulgated thereunder, and the refusal to comply with any such instructions shall not constitute a default or breach under this Agreement or any Transaction Documentother document in connection herewith. BNY Mellon Trust of Delaware The Owner Trustee nevertheless agrees that it will, at its own cost and expense, promptly take all action as may be necessary to discharge any Liens liens on any part of the Owner Trust Estate that result from actions by, or claims against, BNY Mellon Trust of Delaware the Owner Trustee in its individual capacity that are not related to the ownership or the administration of the Trust Estate. The Owner Trustee shall have no responsibility or liability for or with respect to the genuineness, value, sufficiency or validity of the Trust Estate.

Appears in 2 contracts

Samples: Trust Agreement (Morgan Stanley Abs Capital I Inc), Trust Agreement (Morgan Stanley ABS Capital I Inc. MSDWCC HELOC Trust 2005-1)

No Duties. Except as Specified in this Agreement under Specified Documents or in Instructions. The Owner Trustee 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 Owner Trust Estate, or to otherwise take or refrain from taking any action under, or in connection with, any document contemplated hereby to which the Issuer or the Owner Trustee is a party, except as expressly provided by (a) in accordance with the terms of powers granted to and the authority conferred upon the Owner Trustee pursuant to this Agreement or Trust Agreement, (b) in accordance with the Basic Documents and (c) in accordance with any document or written instruction received by delivered to the Owner Trustee pursuant to Section 6.34.03; and no implied duties (including fiduciary duties existing at law or in equity) or obligations shall be read into this Trust Agreement or any Transaction Basic Document against the Owner Trustee. The Owner Trustee shall have no responsibility for filing (i) to file any financing or continuation statement in any public office at any time or time, (ii) to otherwise perfect or maintain the perfection of any security interest or Lien lien granted to it hereunder hereunder, (iii) to record this Trust Agreement or any Basic Document or (iv) to prepare or file any Securities and Exchange Commission filing (including any filings required under the Xxxxxxxx-Xxxxx Act), for the Issuer or Trust, provided, that if necessary, the Owner Trustee will execute any documents required to record this Agreement or any Transaction Documenteffectuate such filings. BNY Mellon Trust of Delaware The Owner Trustee nevertheless agrees that it will, at its own cost and expense, promptly take all action as may be necessary to discharge any Liens liens on any part of the Owner Trust Estate that result from actions by, or claims against, BNY Mellon Trust of Delaware the Owner Trustee that are not related to the ownership or the administration of the Trust Estate. The Owner Trustee shall have no responsibility or liability for or with respect to the genuineness, value, sufficiency or validity of the Trust Estate.

Appears in 1 contract

Samples: Trust Agreement (Pacificamerica Money Center Inc)

No Duties. Except as Specified in this Agreement or in Instructions. The Owner Trustee 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 Owner Trust Estate, or to otherwise take or refrain from taking any action under, or in connection with, any document contemplated hereby to which the Issuer Owner Trustee or the Owner Trustee Trust is a party, except as expressly provided by the terms of this Agreement or in any document or written instruction received by the Owner Trustee pursuant to Section 6.3; and no implied duties (including fiduciary duties existing at law or in equity) or obligations shall be read into this Agreement or any Transaction other Basic Document against the Owner Trustee. The Owner Trustee shall have no responsibility for filing any financing or continuation 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 hereunder or to prepare or file any Commission filing (including any filings required under the Xxxxxxxx-Xxxxx Act), for the Issuer Trust or to record this Agreement or any Transaction other Basic Document. BNY Mellon Trust Notwithstanding any Person's right to instruct the Owner Trustee, neither the Owner Trustee nor any agent, employee, director or officer of Delaware the Owner Trustee shall have any obligation to execute any certificates or other documents required pursuant to the Sarbanes-Oxley Act of 2002 or the rules and regulations promulgaxxx xxxxxxxxxx, and the refusal to comply with any such instructions shall not constitute a default or breech under any Basic Document. The Owner Trustee nevertheless agrees that it will, at its own cost and expense, promptly take all action as may be necessary to discharge any Liens Lien (other than the Lien of the Indenture) on any part of the Owner Trust Estate that result results from actions by, or claims against, BNY Mellon Trust of Delaware the Owner Trustee that are not related to the ownership or the administration of the Trust Estate. The Owner Trustee shall have no responsibility or liability for or with respect to the genuineness, value, sufficiency or validity of the Trust Estate.

Appears in 1 contract

Samples: Trust Agreement (Usaa Auto Owner Trust 2005-1)

AutoNDA by SimpleDocs

No Duties. Except as Specified in this Agreement or in Instructions. The Owner Trustee 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 Estate, or to otherwise take or refrain from taking any action under, or in connection with, any document contemplated hereby to which the Issuer or the Owner Trustee is a party, except as expressly provided by the terms of this Agreement or in any document or written instruction received by the Owner Trustee pursuant to Section 6.3; and no implied duties (including fiduciary duties existing at law or in equity) or obligations shall be read into this Agreement or any Transaction Document against the Owner Trustee. The Owner Trustee shall have no responsibility for filing any financing or continuation 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 hereunder or to prepare or file any Commission filing (including any filings required under the Xxxxxxxx-Xxxxx Act), for the Issuer or to record this Agreement or any Transaction Document. BNY Mellon Trust of Delaware nevertheless agrees that it will, at its own cost and expense, promptly take all action as may be necessary to discharge any Liens on any part of the Trust Estate that result from actions by, or claims against, BNY Mellon Trust of Delaware that are not related to the ownership or the administration of the Trust Estate. The Owner Trustee shall have no responsibility or liability for or with respect to the genuineness, value, sufficiency or validity of the Trust Estate. Further, the Owner Trustee shall have no responsibility for or liability to determine or monitor the status or applicability of any benchmark, index or other modifier applicable thereto, determine whether a substitute benchmark or index should or could be selected, determine the selection of any such substitute benchmark or index, or exercise any right related to the foregoing on behalf of the Issuer or any other Person.

Appears in 1 contract

Samples: Trust Agreement (Capital One Prime Auto Receivables Trust 2022-2)

No Duties. Except as Specified in this Agreement Trust Agreement, the Sale and Servicing Agreement, or in Instructions. The Owner Eligible Lender Trustee shall not have any duty or obligation to manage, make any payment with respect to, register, record, sell, service, dispose of, of or otherwise deal with the Trust Estate, or to otherwise take or refrain from taking any action under, or in connection with, any document contemplated hereby to which the Issuer or the Owner Eligible Lender Trustee is a party, except as expressly provided by the terms of this Agreement Trust Agreement, the Sale and Servicing Agreement, or in any document or written instruction received by the Owner Eligible Lender Trustee pursuant to Section 6.36.03; and no implied duties (including fiduciary duties existing at law or in equity) or obligations shall be read into this Trust Agreement or any Transaction other Basic Document against the Owner Eligible Lender Trustee. The Owner Eligible Lender Trustee shall have no responsibility for filing any financing or continuation statement in any public office at any time or to otherwise perfect or maintain the perfection of any security interest or Lien lien granted to it hereunder or to prepare or file any Commission filing (including any filings required under the Xxxxxxxx-Xxxxx Act), for the Issuer Trust or to record this Trust Agreement or any Transaction other Basic Document. BNY Mellon Trust of The Eligible Lender Trustee and the Delaware Trustee each severally and not jointly, nevertheless agrees that it will, at its own cost and expense, promptly take all action as may be necessary to discharge any Liens liens on any part of the Trust Estate that result from actions by, or claims against, BNY Mellon Trust of Bank One, National Association, in its individual capacity or as the Eligible Lender Trustee or against Bank One Delaware, Inc., in its individual capacity or as Delaware Trustee, as applicable, that are not related to the ownership or the administration of the Trust Estate. The Owner Trustee shall have no responsibility or liability for or with respect to the genuineness, value, sufficiency or validity of the Trust Estate.

Appears in 1 contract

Samples: Trust Agreement (Keycorp Student Loan Trust 2000-B)

No Duties. Except as Specified in this Agreement, the Loan Sale Agreement, the Master Servicing Agreement, the Administration Agreement or in Instructions. The Owner Eligible Lender Trustee shall not have any duty or obligation to manage, make any payment with respect to, register, record, sell, service, dispose of, of or otherwise deal with the Trust Estate, or to otherwise take or refrain from taking any action under, or in connection with, any document contemplated hereby to which the Issuer or the Owner Eligible Lender Trustee is a party, except as expressly provided by the terms of this Agreement, the Loan Sale Agreement, the Master Servicing Agreement, the Administration Agreement or in any document or written instruction received by the Owner Eligible Lender Trustee pursuant to Section 6.36.03; and no implied duties (including fiduciary duties existing at law or in equity) or obligations shall be read into this Agreement or any Transaction other Basic Document against the Owner Eligible Lender Trustee. The Owner Eligible Lender Trustee shall have no responsibility for filing any financing or continuation statement in any public office at any time or to otherwise perfect or maintain the perfection of any security interest or Lien lien granted to it hereunder or to prepare or file any Commission filing (including any filings required under the Xxxxxxxx-Xxxxx Act), for the Issuer Trust or to record this Agreement or any Transaction other Basic Document. BNY Mellon Trust of Delaware The Eligible Lender Trustee nevertheless agrees that it will, at its own cost and expense, promptly take all action as may be necessary to discharge any Liens liens on any part of the Trust Estate that result from actions by, or claims against, BNY Mellon Trust The First National Bank of Delaware Chicago in its individual capacity or as the Eligible Lender Trustee that are not related to the ownership or the administration of the Trust Estate. The Owner Trustee shall have no responsibility or liability for or with respect to the genuineness, value, sufficiency or validity of the Trust Estate.

Appears in 1 contract

Samples: Trust Agreement (Signet Student Loan Trusts)

No Duties. Except as Specified in this Agreement or in ----------------------------------------------------- Instructions. ------------ The Owner Trustee 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 Estate, or to otherwise take or refrain from taking any action under, or in connection with, the Transaction Documents or any document contemplated hereby to which the Issuer or the Owner Trustee is a partythereby, except as expressly provided by the terms of this Trust Agreement or in any document or written instruction received by the Owner Trustee pursuant to Section 6.36.03; and no implied duties (including fiduciary duties existing at law or in equity) or obligations ------------ shall be read into this Trust Agreement or any other Transaction Document against the Owner Trustee. The Except as may be expressly provided in any Transaction Document, the Owner Trustee shall have no responsibility for filing any financing or continuation statement in any public office at any time or to otherwise perfect or maintain the perfection of any security interest or Lien lien granted to it hereunder or to prepare or file any Commission filing (including any filings required under the Xxxxxxxx-Xxxxx Act), for the Issuer Trust or to record this Trust Agreement or any Transaction Document. BNY Mellon The Trust of Delaware Company nevertheless agrees that it will, at its own cost and expense, promptly take all action as may be necessary to discharge any Liens liens on any part of the Trust Estate that result from actions by, or claims against, BNY Mellon the Trust of Delaware Company that are not related to the Trust, this Trust Agreement, the Trust Company's serving as Owner Trustee or the ownership or the administration of the Trust Estate. The Owner Trustee shall have no responsibility or liability for or with respect to the genuineness, value, sufficiency or validity of the Trust Estate.

Appears in 1 contract

Samples: Trust Agreement (MCG Capital Corp)

No Duties. Except as Specified in this Agreement or in Instructions. The Neither the Owner Trustee, the Co-Owner Trustee nor the Trust Eligible Lender Trustee shall not have any duty or obligation to manage, make any payment with respect to, register, record, sell, dispose of, of or otherwise deal with the Trust EstateProperty, or to otherwise take or refrain from taking any action under, or in connection with, any document contemplated hereby to which the Issuer or the Owner Trustee any one of them is a party, except as expressly provided by the terms of this Agreement (including as provided in Section 6.2), in any Basic Document or in any document or written instruction received by the Co-Owner Trustee or Trust Eligible Lender Trustee pursuant to Section 6.3; and no implied duties (including fiduciary duties existing at law or in equity) or obligations shall be read into this Agreement or any Transaction Basic Document against the Owner Trustee, 21 of 41 Trust Agreement the Co-Owner Trustee or the Trust Eligible Lender Trustee. The Neither the Owner Trustee, the Co-Owner Trustee nor the Trust Eligible Lender Trustee shall have no any responsibility for preparing, monitoring or filing any financing or continuation statement statements in any public office at any time or otherwise to otherwise perfect or maintain the perfection of any security interest or Lien lien granted to it hereunder or to prepare or file any Commission filing (including any filings required under the Xxxxxxxx-Xxxxx Act), for the Issuer or to record this Agreement or any Transaction Basic Document. BNY Mellon Each of the Owner Trustee, the Co-Owner Trustee and the Trust of Delaware nevertheless Eligible Lender Trustee, nevertheless, agrees that it will, at its own cost and expenseexpense (and not at the expense of the Trust), promptly take all action as may be necessary to discharge any Liens liens on any part of the Trust Estate Property that result from actions byare attributable to claims against the Owner Trustee, the Co-Owner Trustee or claims againstthe Trust Eligible Lender Trustee in its individual capacity, BNY Mellon Trust of Delaware respectively, that are not related to the ownership or the administration of the Trust Estate. The Owner Trustee shall have no responsibility or liability for or with respect to the genuineness, value, sufficiency or validity of the Trust EstateProperty.

Appears in 1 contract

Samples: Trust Agreement (Education Capital I LLC)

No Duties. Except as Specified in this Agreement under Specified --------------------------------------------------- Documents or in Instructions. The Owner Trustee 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 Owner Trust Estate, or to otherwise take or refrain from taking any action under, or in connection with, any document contemplated hereby to which the Issuer or the Owner Trustee is a party, except as expressly provided by (i) in accordance with the terms of powers granted to and the authority conferred upon the Owner Trustee pursuant to this Agreement or Trust Agreement, (ii) in accordance with the Basic Documents and (iii) in accordance with any document or written instruction received by delivered to the Owner Trustee pursuant to Section 6.34.03; and no implied duties (including fiduciary duties existing at law or in equity) or obligations shall be read into this Trust Agreement or any Transaction Basic Document against the Owner Trustee. The Owner Trustee shall have no responsibility for filing any financing or continuation statement in any many public office at any time anytime or to otherwise perfect or maintain the perfection of any security interest or Lien lien granted to it hereunder or to prepare or file any Securities and Exchange Commission filing (including any filings required under the Xxxxxxxx-Xxxxx Act), for the Issuer Trust or to record this Trust Agreement or any Transaction Basic Document. BNY Mellon Trust of Delaware The Owner Trustee nevertheless agrees that it will, at its own cost and expense, promptly take all action as may be necessary to discharge any Liens liens on any part of the Owner Trust Estate that result from actions by, or claims against, BNY Mellon Trust of Delaware the Owner Trustee that are not related to the ownership or the administration of the Trust Estate. The Owner Trustee shall have no responsibility or liability for or with respect to the genuineness, value, sufficiency or validity of the Trust Estate.

Appears in 1 contract

Samples: Trust Agreement (Imh Assets Corp)

No Duties. Except as Specified in this Agreement under Specified Documents or in Instructions. The Owner Trustee 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 Owner Trust Estate, or to otherwise take or refrain from taking any action under, or in connection with, any document contemplated hereby to which the Issuer or the Owner Trustee is a party, except as expressly provided by the terms of this Agreement or in any document or written instruction received by the Owner Trustee pursuant to Section 6.3herein; and no implied duties (including fiduciary duties existing at law or in equity) or obligations shall be read into this Trust Agreement or any Transaction Basic Document against the Owner Trustee. The Owner Trustee shall have no responsibility for filing any financing or continuation statement in any public office at any time or to otherwise perfect or maintain the perfection of any security interest or Lien lien granted to it hereunder or to prepare or file any Securities and Exchange Commission filing (including any filings required under the Xxxxxxxx-Xxxxx Act), for the Issuer Trust or to record this Trust Agreement or any Transaction Basic Document. BNY Mellon Trust Further, notwithstanding anything to the contrary herein or in any other document, the Owner Trustee shall not be required to execute, deliver or certify on behalf of Delaware the Trust, the Servicer, the Depositor or any other Person any filings, certificates, affidavits or other instruments required by the SEC or required under the Sarbanes-Oxley Act of 2002. Notwixxxxxxxxxx xxx Person's right to instruct the Owner Trustee, neither the Owner Trustee nor any agent, employee, director or officer of the Owner Trustee shall have any obligation to execute any certificates or other documents required by the SEC or required pursuant to the Sarbannes-Oxley Act of 2002 or the rules and regulations promulgated thereunder, and the refusal to comply with any such instructions shall not constitute a default or breeach under this Agreement or any other document in connection herewith. The Owner Trustee nevertheless agrees that it will, at its own cost and expense, promptly take all action as may be necessary to discharge any Liens liens on any part of the Owner Trust Estate that result from actions by, or claims against, BNY Mellon Trust of Delaware the Owner Trustee in its individual capacity that are not related to the ownership or the administration of the Trust Estate. The Owner Trustee shall have no responsibility or liability for or with respect to the genuineness, value, sufficiency or validity of the Trust Estate.

Appears in 1 contract

Samples: Trust Agreement (Morgan Stanley Abs Capital I Inc MSDWCC Heloc Trust 2003-1)

No Duties. Except as Specified in this Agreement or in Instructions. The Neither the Owner Trustee, the Co-Owner Trustee nor the Trust Eligible Lender Trustee shall not have any duty or obligation to manage, make any payment with respect to, register, record, sell, dispose of, of or otherwise deal with the Trust EstateProperty, or to otherwise take or refrain from taking any action under, or in connection with, any document contemplated hereby to which the Issuer or the Owner Trustee any one of them is a party, except as expressly provided by the terms of this Agreement (including as provided in Section 6.2), in any Basic Document or in any document or written instruction received by the Co-Owner Trustee or Trust Eligible Lender Trustee pursuant to Section 6.3; and no implied duties (including fiduciary duties existing at law or in equity) or obligations shall be read into this Agreement or any Transaction Basic Document against the Owner Trustee, the Co-Owner Trustee or the Trust Eligible Lender Trustee. The Neither the Owner Trustee, the 21 of 41 Co-Owner Trustee nor the Trust Eligible Lender Trustee shall have no any responsibility for preparing, monitoring or filing any financing or continuation statement statements in any public office at any time or otherwise to otherwise perfect or maintain the perfection of any security interest or Lien lien granted to it hereunder or to prepare or file any Commission filing (including any filings required under the Xxxxxxxx-Xxxxx Act), for the Issuer or to record this Agreement or any Transaction Basic Document. BNY Mellon Each of the Owner Trustee, the Co-Owner Trustee and the Trust of Delaware nevertheless Eligible Lender Trustee, nevertheless, agrees that it will, at its own cost and expenseexpense (and not at the expense of the Trust), promptly take all action as may be necessary to discharge any Liens liens on any part of the Trust Estate Property that result from actions byare attributable to claims against the Owner Trustee, the Co-Owner Trustee or claims againstthe Trust Eligible Lender Trustee in its individual capacity, BNY Mellon Trust of Delaware respectively, that are not related to the ownership or the administration of the Trust Estate. The Owner Trustee shall have no responsibility or liability for or with respect to the genuineness, value, sufficiency or validity of the Trust EstateProperty.

Appears in 1 contract

Samples: Trust Agreement (Education Capital I LLC)

No Duties. Except as Specified in this Agreement Agreement, the Transaction Documents or in Instructions. The Owner Trustee 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 Owner Trust Estate, or to otherwise take or refrain from taking any action under, or in connection with, any document contemplated hereby to which the Issuer Owner Trustee or the Owner Trustee Trust is a party, except as expressly provided by the terms of this Agreement Agreement, or in any document or written instruction received by the Owner Trustee pursuant to Section 6.3; and no implied duties (including fiduciary duties existing at law or in equity) or obligations shall be read into this Agreement or any Transaction Document against the Owner Trustee. The Owner Trustee shall have no responsibility for filing any financing or continuation statement in any public office at any time anytime or to otherwise perfect or maintain the perfection of any security interest or Lien lien granted to it hereunder or to prepare or file any Securities and Exchange Commission filing (including any filings required under the Xxxxxxxx-Xxxxx Act), for the Issuer Trust or to record this Agreement or any Transaction Document. BNY Mellon Trust Notwithstanding anything to the contrary herein or in any Transaction Document, the Owner Trustee shall not be required to execute, deliver or certify on behalf of Delaware the Issuer or any other Person any filings, certificates, affidavits or other instruments in connection with certifications required under the Xxxxxxxx-Xxxxx Act of 2002. The Owner Trustee nevertheless agrees that it will, at its own cost and expense, promptly take all action as may be necessary to discharge any Liens liens on any part of the Owner Trust Estate that result from actions by, or claims against, BNY Mellon Trust of Delaware the Owner Trustee in its individual capacity that are not related to the ownership or the administration of the Trust Estate. The Owner Trustee shall have no responsibility or liability for or with respect to the genuineness, value, sufficiency or validity of the Trust Estate.

Appears in 1 contract

Samples: Trust Agreement (Household Mortgage Loan Trust 2003-Hc1)

No Duties. Except as Specified in this Agreement Trust Agreement, the Sale and Servicing Agreement, or in Instructions. The Owner Eligible Lender Trustee shall not have any duty or obligation to manage, make any payment with respect to, register, record, sell, service, dispose of, of or otherwise deal with the Trust Estate, or to otherwise take or refrain from taking any action under, or in connection with, any document contemplated hereby to which the Issuer or the Owner Eligible Lender Trustee is a party, except as expressly provided by the terms of this Agreement Trust Agreement, the Sale and Servicing Agreement, or in any document or written instruction received by the Owner Eligible Lender Trustee pursuant to Section 6.36.03; and no implied duties (including fiduciary duties existing at law or in equity) or obligations shall be read into this Trust Agreement or any Transaction other Basic Document against the Owner Eligible Lender Trustee. The Owner Eligible Lender Trustee shall have no responsibility for filing any financing or continuation statement in any public office at any time or to otherwise perfect or maintain the perfection of any security interest or Lien lien granted to it hereunder or to prepare or file any Commission filing (including any filings required under the Xxxxxxxx-Xxxxx Act), for the Issuer Trust or to record this Trust Agreement or any Transaction other Basic Document. BNY Mellon Trust of The Eligible Lender Trustee and the Delaware Trustee each severally and not jointly, nevertheless agrees that it will, at its own cost and expense, promptly take all action as may be necessary to discharge any Liens liens on any part of the Trust Estate that result from actions by, or claims against, BNY Mellon Trust of [ ], in its individual capacity or as the Eligible Lender Trustee or against [ ], in its individual capacity or as Delaware Trustee, as applicable, that are not related to the ownership or the administration of the Trust Estate. The Owner Trustee shall have no responsibility or liability for or with respect to the genuineness, value, sufficiency or validity of the Trust Estate.

Appears in 1 contract

Samples: Trust Agreement (Key Bank Usa National Association)

No Duties. Except as Specified in this Agreement or in Instructions. The Owner Trustee 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 Estate, or to otherwise take or refrain from taking any action under, or in connection with, any document contemplated hereby to which the Issuer or the Owner Trustee is a party, except as expressly provided by the terms of this Agreement or in any document or written instruction received by the Owner Trustee pursuant to Section 6.3; and no implied duties (including fiduciary duties existing at law or in equity) or obligations shall be read into this Agreement or any Transaction Document against the Owner Trustee. The Owner Trustee shall have no responsibility for filing any financing or continuation 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 hereunder or to prepare or file any Commission filing (including any filings required under the Xxxxxxxx-Xxxxx Act), for the Issuer or to record this Agreement or any Transaction Document. BNY Mellon Trust of Delaware [ ] nevertheless agrees that it will, at its own cost and expense, promptly take all action as may be necessary to discharge any Liens on any part of the Trust Estate that result from actions by, or claims against, BNY Mellon Trust of Delaware [ ] that are not related to the ownership or the administration of the Trust Estate. The Owner Trustee shall have no responsibility or liability for or with respect to the genuineness, value, sufficiency or validity of the Trust Estate.

Appears in 1 contract

Samples: Trust Agreement (Huntington Funding, LLC)

No Duties. Except as Specified in under this Agreement Trust Agreement, --------------------------------------------------------- Basic Documents or in Instructions. The ---------------------------------- Notwithstanding any other provision herein or elsewhere, the Owner Trustee 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 Owner Trust Estate, or to otherwise take or refrain from taking any action under, or in connection with, this Trust Agreement or any document contemplated hereby to which the Issuer Trust or the Owner Trustee is a party, except as expressly provided by (a) in this Trust Agreement, (b) in the terms of this Agreement or Basic Documents and (c) in any document or written instruction received by delivered to the Owner Trustee pursuant to Section 6.34.03; and no implied duties (including fiduciary duties existing at law or in equity) or obligations shall be read into this Trust Agreement or any Transaction Basic Document against the Owner Trustee. The Owner Trustee shall have no responsibility for filing (i) to file any financing or continuation statement in any public office at any time or time, (ii) to otherwise perfect or maintain the perfection of any security interest or Lien lien granted to it hereunder hereunder, (iii) to record this Trust Agreement or any Basic Document or (iv) to prepare or file any Securities and Exchange Commission filing (including any filings required under the Xxxxxxxx-Xxxxx Act), for the Issuer or to record this Agreement or any Transaction DocumentTrust. BNY Mellon Trust of Delaware The Owner Trustee nevertheless agrees that it will, at its own cost and expense, promptly take all action as may be necessary to discharge any Liens liens on any part of the Owner Trust Estate that result from actions by, or claims against, BNY Mellon Trust of Delaware the Owner Trustee that are not related to the ownership or the administration of the Trust Estate. The Owner Trustee shall have no responsibility or liability for or with respect to the genuineness, value, sufficiency or validity of the Trust Estate.

Appears in 1 contract

Samples: Trust Agreement (Novastar Mortgage Funding Corp)

No Duties. Except as Specified in this Agreement or in Instructions. The Owner Trustee 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 Owner Trust Estate, or to otherwise take or refrain from taking any action under, or in connection with, any document contemplated hereby to which the Issuer Owner Trustee or the Owner Trustee Trust is a party, except as expressly provided by the terms of this Agreement or in any document or written instruction received by the Owner Trustee pursuant to Section 6.3; and no implied duties (including fiduciary duties existing at law or in equity) or obligations shall be read into this Agreement or any Transaction other Basic Document against the Owner Trustee. The Owner Trustee shall have no responsibility for filing any financing or continuation 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 hereunder or to prepare or file any Commission filing (including any filings required under the Xxxxxxxx-Xxxxx Act), for the Issuer Trust or to record this Agreement or any Transaction other Basic Document. BNY Mellon Trust Notwithstanding any Person's right to instruct the Owner Trustee, neither the Owner Trustee nor any agent, employee, director or officer of Delaware the Owner Trustee shall have any obligation to execute any certificates or other documents required pursuant to the Sarbanes-Oxley Act of 2002 or the rules and regulations promulgated xxxxxxxxxx, xxd the refusal to comply with any such instructions shall not constitute a default or breach under any Basic Document. The Owner Trustee nevertheless agrees that it will, at its own cost and expense, promptly take all action as may be necessary to discharge any Liens Lien (other than the Lien of the Indenture) on any part of the Owner Trust Estate that result results from actions by, or claims against, BNY Mellon Trust of Delaware the Owner Trustee that are not related to the ownership or the administration of the Trust Estate. The Owner Trustee shall have no responsibility or liability for or with respect to the genuineness, value, sufficiency or validity of the Trust Estate.

Appears in 1 contract

Samples: Trust Agreement (Usaa Acceptance LLC)

No Duties. Except as Specified in this Agreement or in Instructions. The Owner Trustee 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 Estate, or to otherwise take or refrain from taking any action under, or in connection with, any document contemplated hereby to which the Issuer or the Owner Trustee is a party, except as expressly provided by the terms of this Agreement or in any document or written instruction received by the Owner Trustee pursuant to Section 6.3; and no implied duties (including fiduciary duties existing at law or in equity) or obligations shall be read into this Agreement or any Transaction Document against the Owner Trustee. The Owner Trustee shall have no responsibility for filing any financing or continuation 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 hereunder or to prepare or file any Commission filing (including any filings required under the Xxxxxxxx-Xxxxx Act), for the Issuer 22 Amended and Restated Trust Agreement or to record this Agreement or any Transaction Document. BNY Mellon Trust of Delaware [—] nevertheless agrees that it will, at its own cost and expense, promptly take all action as may be necessary to discharge any Liens on any part of the Trust Estate that result from actions by, or claims against, BNY Mellon Trust of Delaware [—] that are not related to the ownership or the administration of the Trust Estate. The Owner Trustee shall have no responsibility or liability for or with respect to the genuineness, value, sufficiency or validity of the Trust Estate.

Appears in 1 contract

Samples: Trust Agreement (Huntington Funding, LLC)

No Duties. Except as Specified in this Agreement under Specified Documents or in Instructions. The Owner Trustee 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 Owner Trust Estate, or to otherwise take or refrain from taking any action under, or in connection with, any document contemplated hereby to which the Issuer or the Owner Trustee is a party, except as expressly provided by the terms of this Agreement or in any document or written instruction received by the Owner Trustee pursuant to Section 6.3herein; and no implied duties (including fiduciary duties existing at law or in equity) or obligations shall be read into this Trust Agreement or any Transaction Basic Document against the Owner Trustee. The Owner Trustee shall have no responsibility for filing any financing or continuation statement in any public office at any time or to otherwise perfect or maintain the perfection of any security interest or Lien lien granted to it hereunder or to prepare or file any Securities and Exchange Commission filing (including for the Trust or to record this Trust Agreement or any filings Basic Document. Further, notwithstanding anything to the contrary herein or in any other document, the Owner Trustee shall not be required to execute, deliver or certify on behalf of the Trust, the Servicer, the Depositor or any other Person any filings, certificates, affidavits or other instruments required by the SEC or required under the Xxxxxxxx-Xxxxx Act)Act of 2002. Notwithstanding any Person's right to instruct the Owner Trustee, for neither the Issuer Owner Trustee nor any agent, employee, director or officer of the Owner Trustee shall have any obligation to record execute any certificates or other documents required by the SEC or required pursuant to the Sarbannes-Oxley Act of 2002 or the rules and regulations promulgated thereunder, and the refusal to comply with any such instructions shall not constitute a default or breeach under this Agreement or any Transaction Documentother document in connection herewith. BNY Mellon Trust of Delaware The Owner Trustee nevertheless agrees that it will, at its own cost and expense, promptly take all action as may be necessary to discharge any Liens liens on any part of the Owner Trust Estate that result from actions by, or claims against, BNY Mellon Trust of Delaware the Owner Trustee in its individual capacity that are not related to the ownership or the administration of the Trust Estate. The Owner Trustee shall have no responsibility or liability for or with respect to the genuineness, value, sufficiency or validity of the Trust Estate.

Appears in 1 contract

Samples: Trust Agreement (Heloc Asset-Backed Notes Series 2003-2)

No Duties. Except as Specified in this Agreement or in Instructions. The Owner Trustee 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 Owner Trust Estate, or to otherwise take or refrain from taking any action under, or in connection with, any document contemplated hereby to which the Issuer or the Owner Trustee is a party, except as expressly provided by the terms of this Agreement or in any document or written instruction received by the Owner Trustee pursuant to Section ss. 6.3; and no implied duties (including fiduciary duties existing at law or in equity) or obligations shall be read into this Agreement or any Transaction Basic Document or, with respect to Certificates, any Series Supplement or any Series Related Document against the Owner Trustee. The Owner Trustee shall have no responsibility for filing any financing or continuation statement in any public office at any time or to otherwise perfect or maintain the perfection of any security interest or Lien lien granted to it hereunder or to prepare or file any Commission filing (including any filings required under the Xxxxxxxx-Xxxxx Act), for the Issuer Trust or to record this Agreement or any Transaction Basic Document or, with respect to Certificates, any Series Supplement or any Series Related Document. BNY Mellon Trust of Delaware The Owner Trustee nevertheless agrees that it will, at its own cost and expense, promptly take all action as may be necessary to discharge any Liens on any part of the Owner Trust Estate that result from actions by, or claims against, BNY Mellon Trust of Delaware the Owner Trustee (solely in its individual capacity) and that are not related to the ownership or the administration of the Trust Estate. The Owner Trustee shall have no responsibility or liability for or with respect to the genuineness, value, sufficiency or validity of the Trust Estate.

Appears in 1 contract

Samples: Trust Agreement (Household Auto Receivables Corp)

No Duties. Except as Specified in this Agreement, the Sale and Servicing Agreement, the Supplemental Sale and Servicing Agreement or in Instructions. The Owner Eligible Lender Trustee shall not have any duty or obligation to manage, make any payment with respect to, register, record, sell, service, dispose of, of or otherwise deal with the Trust Estate, or to otherwise take or refrain from taking any action under, or in connection with, any document contemplated hereby to which the Issuer or the Owner Eligible Lender Trustee is a party, except as expressly provided by the terms of this Agreement, the Sale and Servicing Agreement, the Supplemental Sale and Servicing Agreement or in any document or written instruction received by the Owner Eligible Lender Trustee pursuant to Section 6.36.03; and no implied duties (including fiduciary duties existing at law or in equity) or obligations shall be read into this Agreement or any Transaction other Basic Document against the Owner Eligible Lender Trustee. The Owner Eligible Lender Trustee shall have no responsibility for filing any financing or continuation statement in any public office at any time or to otherwise perfect or maintain the perfection of any security interest or Lien lien granted to it hereunder or to prepare or file any Commission filing (including any filings required under the Xxxxxxxx-Xxxxx Act), for the Issuer Trust or to record this Agreement or any Transaction other Basic Document. BNY Mellon Trust of Delaware The Eligible Lender Trustee nevertheless agrees that it will, at its own cost and expense, promptly take all action as may be necessary to discharge any Liens liens on any part of the Trust Estate that result from actions by, or claims against, BNY Mellon Trust The First National Bank of Delaware Chicago in its individual capacity or as the Eligible Lender Trustee that are not related to the ownership or the administration of the Trust Estate. The Owner Trustee shall have no responsibility or liability for or with respect to the genuineness, value, sufficiency or validity of the Trust Estate.

Appears in 1 contract

Samples: Trust Agreement (Key Bank Usa National Association)

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