No Liability of the Depositor. with Respect to --------------------------------------------- the Underlying Securities; Certificateholders to Proceed Directly Against the ----------------------------------------------------------------------------- Issuer(s). (a) The sole obligor with respect to any Underlying Security is the --------- Issuer thereof. The Depositor shall not have any obligation on or with respect to the Underlying Securities; and its obligations with respect to Certificates shall be solely as set forth in this Trust Agreement. (b) The Depositor is not authorized to proceed against the Issuer of any Underlying Security in the event of a default or to assert the rights and privileges of Certificateholders of Certificates and has no duty in respect thereof.
Appears in 4 contracts
Samples: Series Supplement Bond Backed Certificates (Lehman Abs Corp), Series Supplement (Lehman Abs Corp), Series Supplement (Lehman Abs Corp)
No Liability of the Depositor. with Respect to --------------------------------------------- the ------------------------------------------------- Underlying Securities; Certificateholders to Proceed Directly Against the ----------------------------------------------------------------------------- ------------------------------------------------------------------------- Underlying Securities Issuer(s).
(a) The sole obligor with respect to any ------------------------------- Underlying Security is the --------- Issuer thereofUnderlying Securities Issuer(s). The Depositor shall not have any obligation on or with respect to the Underlying Securities; and its obligations with respect to Certificates shall be solely as set forth in this Trust Agreement.
(b) The Depositor is not authorized to proceed against the Underlying Securities Issuer of any Underlying Security in the event of a default or to assert the rights and privileges of Certificateholders of Certificates and has no duty in respect thereof.
Appears in 4 contracts
Samples: Trust Agreement (Elmwood Funding LTD), Series Supplement (Elmwood Funding LTD), Series Supplement (Elmwood Funding LTD)
No Liability of the Depositor. with Respect to --------------------------------------------- the ------------------------------------------------- Underlying Securities; Certificateholders to Proceed Directly Against the ----------------------------------------------------------------------------- ------------------------------------------------------------------------- Issuer(s).
(a) The sole obligor with respect to any Underlying Security is the --------- Issuer thereof. The Depositor shall not have any obligation on or with respect to the Underlying Securities; and its obligations with respect to Certificates shall be solely as set forth in this Trust Agreement.
(b) The Depositor is not authorized to proceed against the Issuer of any Underlying Security in the event of a default or to assert the rights and privileges of Certificateholders of Certificates and has no duty in respect thereof.
Appears in 1 contract
Samples: Trust Agreement (Db Depositor Inc)
No Liability of the Depositor. with Respect to --------------------------------------------- the -------------------------------------------------- Underlying Securities; Certificateholders to Proceed Directly Against the ----------------------------------------------------------------------------- -------------------------------------------------------------------------- Underlying Securities Issuer(s).
(a) The sole obligor with respect to any ------------------------------- Underlying Security is the --------- Issuer thereofUnderlying Securities Issuer(s). The Depositor shall not have any obligation on or with respect to the Underlying Securities; and its obligations with respect to Certificates shall be solely as set forth in this Trust Agreement.
(b) The Depositor is not authorized to proceed against the Underlying Securities Issuer of any Underlying Security in the event of a default or to assert the rights and privileges of Certificateholders of Certificates and has no duty in respect thereof.
Appears in 1 contract
