NO JOINT VENTURE; NOT TRUSTEE. Nothing contained in this Agreement (i) shall constitute the Administrator and any of the Issuer, the Indenture Trustee or the Eligible Lender Trustee as members of any partnership, joint venture, association, syndicate, unincorporated business or other separate entity, (ii) shall be construed to impose any liability as such on any of them or (iii) shall be deemed to confer on any of them any express, implied or apparent authority to incur any obligation or liability on behalf of the others. Further, nothing contained in this Agreement shall constitute or be deemed to constitute the Administrator as a trustee or cotrustee of the Trust.
Appears in 2 contracts
Samples: Administration Agreement (Crestar Bank /Va), Administration Agreement (Crestar Bank /Va)
NO JOINT VENTURE; NOT TRUSTEE. Nothing contained in this Agreement (i) shall constitute the Administrator and any of the Issuer, the Indenture Trustee or the Eligible Lender Trustee as members of any partnership, joint venture, association, syndicate, unincorporated business or other separate entity, (ii) shall be construed to impose any liability as such on any of them or (iii) shall be deemed to confer on any of them any express, implied or apparent authority to incur any obligation or liability on behalf of the others. Further, nothing contained in this Agreement shall constitute or be deemed to constitute the Administrator as a trustee or cotrustee co- trustee of the Trust.
Appears in 1 contract
Samples: Sale and Servicing Agreement (Transworld Insurance Co)
NO JOINT VENTURE; NOT TRUSTEE. Nothing contained in this Agreement (i) shall constitute the Administrator and any of the Issuer, the Indenture Trustee or the Eligible Lender Trustee as members of any partnership, joint venture, association, syndicate, unincorporated business or other separate entity, (ii) shall be construed to impose any liability as such on any of them or (iii) shall be deemed to confer on any of them any express, implied or apparent authority to incur any obligation or liability on behalf of the others. Further, nothing contained in this Agreement shall constitute or be deemed to constitute the Administrator as a trustee or cotrustee co-trustee of the Trust.
Appears in 1 contract
Samples: Administration Agreement (PNC Bank National Association/)
