Common use of No Liability of the Trustee Clause in Contracts

No Liability of the Trustee. 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 Trustee 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 Trustee 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 except as expressly provided herein.

No Liability of the Trustee. 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 Trustee 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 Trustee 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 except as expressly provided herein.