Common use of No Obligations or Actions Except as Stated in Transaction Documents or Instructions Clause in Contracts

No Obligations or Actions Except as Stated in Transaction Documents or Instructions. The Owner Trustee is not obligated to, and will not, manage, use, sell or dispose of the Trust Property, except according to the rights and powers granted to and the authority given to the Issuer and the Owner Trustee under this Agreement and the other Transaction Documents or in an instruction received by the Owner Trustee under Section 5.4(a) or 5.6. The right of the Owner Trustee to perform a discretionary act stated in a Transaction Document will not be interpreted as an obligation. There are no implied obligations of the Owner Trustee under the Transaction Documents.

Appears in 86 contracts

Samples: Trust Agreement (Ford Credit Auto Owner Trust 2024-D), Trust Agreement (Ford Credit Auto Receivables Two LLC), Trust Agreement (Ford Credit Auto Owner Trust 2024-C)

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No Obligations or Actions Except as Stated in Transaction Documents or Instructions. The Owner Trustee is not obligated to, and will not, manage, use, sell or dispose of the Trust Property, except according to the rights and powers granted to and the authority given to the Issuer and the Owner Trustee under this Agreement and the other Transaction Documents or in an instruction received by the Owner Trustee under Section Sections 5.4(a) or 5.6. The right of the Owner Trustee to perform a discretionary act stated in a Transaction Document will not be interpreted as an obligation. There are no implied obligations of the Owner Trustee under the Transaction Documents.

Appears in 4 contracts

Samples: Trust Agreement (Ford Credit Auto Lease Two LLC), Trust Agreement (Ford Credit Auto Lease Two LLC), Trust Agreement (CAB East LLC)

No Obligations or Actions Except as Stated in Transaction Documents or Instructions. The Owner Trustee is not obligated to, and will not, manage, use, sell or dispose of the Trust Property, except according to the rights and powers granted to and the authority given to the Issuer and the Owner Trustee under this Agreement and the other Transaction Documents or in an instruction received by the Owner Trustee under Section 5.4(a) or 5.6. The right of the Owner Trustee to perform a discretionary act stated in a Transaction Document will not be interpreted as an a obligation. There are no implied obligations of the Owner Trustee under the Transaction Documents.

Appears in 3 contracts

Samples: Trust Agreement (Ford Credit Auto Receivables Two LLC), Trust Agreement (Ford Credit Auto Receivables Two LLC), Trust Agreement (Ford Credit Auto Receivables Two LLC)

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No Obligations or Actions Except as Stated in Transaction Documents or Instructions. The Owner Trustee is not obligated has no obligation to, and will not, manage, use, sell or dispose of the Trust Property, except according to the rights and powers granted to and the authority given to the Issuer and the Owner Trustee under this Agreement and the other Transaction Documents or in an instruction received by the Owner Trustee under Section 5.4(a) or 5.6. The right of the Owner Trustee to perform a discretionary act stated in a Transaction Document will not be interpreted as an a obligation. There are no implied obligations of the Owner Trustee under the Transaction Documents.

Appears in 1 contract

Samples: Trust Agreement (Ford Credit Auto Receivables Two LLC)

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