Common use of No Recourse to Owner Trustee Clause in Contracts

No Recourse to Owner Trustee. It is expressly understood and agreed by the parties hereto that (a) this Agreement is executed and delivered by Christiana Bank & Trust Company, not individually or personally but solely as Owner Trustee of the Issuer, in the exercise of the powers and authority conferred and vested in it as trustee, (b) each of the representations, undertakings and agreements herein made on the part of the Issuer is made and intended not as a personal representation, undertaking and agreement by Christiana Bank & Trust Company but is made and intended for the purpose of binding only the Issuer, (c) nothing herein contained shall be construed as creating any liability on Christiana Bank & Trust Company, individually or personally, to perform any covenant either expressed or implied contained herein, all such liability, if any, being expressly waived by the parties hereto and by any Person claiming by, through or under the parties hereto and (d) under no circumstances shall Christiana Bank & Trust Company be personally liable for the payment of any indebtedness or expenses of the Issuer or be liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken by the Issuer under this Agreement or any other related documents.

No Recourse to Owner Trustee. It is expressly understood and agreed by the parties hereto that (a) this Agreement is executed and delivered by Christiana Bank & Wilmington Trust Company, not Company individually or personally personally, but solely as Owner Trustee of the IssuerOrigen Manufactured Housing Contract Trust 2004-B, in the exercise of the powers and authority conferred and vested in it as trusteeit, (b) each of the representations, undertakings and agreements herein made on the part of the Issuer is made and intended not as a personal representationrepresentations, undertaking undertakings and agreement agreements by Christiana Bank & Wilmington Trust Company but is made and intended for the purpose of for binding only the Issuer, (c) nothing herein contained shall be construed as creating any liability on Christiana Bank & of Wilmington Trust Company, individually or personally, to perform any covenant either expressed or implied contained herein, all such liability, if any, being expressly waived by the parties hereto and by any Person claiming by, through or under the parties hereto and (d) under no circumstances shall Christiana Bank & Wilmington Trust Company be personally liable for the payment of any indebtedness or expenses of the Issuer or be liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken by the Issuer under this Agreement or any other related documents.

No Recourse to Owner Trustee. It is expressly understood and agreed by and between the parties hereto (i) that (a) this Agreement is executed and delivered by Christiana Bank & Trust Companythe Owner Trustee, not individually or personally in its individual capacity but solely as Owner Trustee of under the Issuer, Owner Trust Agreement in the exercise of the powers power and authority conferred and vested in it as trusteesuch Owner Trustee, (bii) each of the representations, undertakings and agreements made herein made by the Issuer are not personal representations, undertakings and agreements of the Owner Trustee but are binding only on the part of Issuer created pursuant to the Issuer is made and intended not as a personal representation, undertaking and agreement by Christiana Bank & Owner Trust Company but is made and intended for the purpose of binding only the IssuerAgreement, (ciii) nothing contained herein contained shall be construed as creating any liability on Christiana Bank & Trust Companythe Owner Trustee, individually or personally, to perform any covenant of the Issuer either expressed or implied contained herein, all such liability, if any, being expressly waived by the parties hereto and by any Person person claiming by, through or under the parties hereto any such party and (div) under no circumstances shall Christiana Bank & Trust Company the Owner Trustee be personally liable for the payment of any indebtedness or expenses expense of the Issuer or be liable for the breach or failure of any obligation, representation, warranty or covenant made make or undertaken by the Issuer under this Agreement or any other related documentsAgreement.

No Recourse to Owner Trustee. It is expressly understood and agreed by the parties hereto that (a) this Security Agreement is executed and delivered by Christiana Bank & Trust Company, not individually or personally but solely as Owner Trustee of the Issuer, in the exercise of the powers and authority conferred and vested in it as trustee, (b) each of the representations, undertakings and agreements herein made on the part of the Issuer is made and intended not as a personal representation, undertaking and agreement by Christiana Bank & Trust Company but is made and intended for the purpose of binding only the Issuer, (c) nothing herein contained shall be construed as creating any liability on Christiana Bank & Trust Company, individually or personally, to perform any covenant either expressed or implied contained herein, all such liability, if any, being expressly waived by the parties hereto and by any Person claiming by, through or under the parties hereto and (d) under no circumstances shall Christiana Bank & Trust Company be personally liable for the payment of any indebtedness or expenses of the Issuer or be liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken by the Issuer under this Security Agreement or any other related documents.

No Recourse to Owner Trustee. It is expressly understood and agreed by the parties hereto that (a) this Agreement is executed and delivered by Christiana Bank & Wilmington Trust Company, not individually or personally but solely as Owner Trustee trustee of the IssuerBorrower, in the exercise of the powers and authority conferred and vested in it as trusteeit, (b) each of the representations, undertakings and agreements herein made on the part of the Issuer Borrower is made and intended not as a personal representationrepresentations, undertaking undertakings and agreement agreements by Christiana Bank & Wilmington Trust Company but is made and intended for the purpose of binding only the IssuerBorrower, (c) nothing herein contained shall be construed as creating any liability on Christiana Bank & Wilmington Trust Company, individually or personally, to perform any covenant either expressed or implied contained herein, all such liability, if any, being expressly waived by the parties hereto and by any Person claiming by, through or under the parties hereto and (d) under no circumstances shall Christiana Bank & Wilmington Trust Company be personally liable for the payment of any indebtedness or expenses of the Issuer Borrower or be liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken by the Issuer Borrower under this Agreement or any the other related documentsTransaction Documents.

No Recourse to Owner Trustee. It is expressly understood and agreed by the parties hereto that (a) this Agreement Indenture is executed and delivered by Christiana Bank & Wilmington Trust Company, not individually or personally personally, but solely as Owner Trustee of the IssuerNew Century Home Equity Loan Trust 2005-3, in the exercise of the powers and authority conferred and vested in it as trusteeit, (b) each of the representations, undertakings and agreements herein made on the part of the Issuer is made and intended not as a personal representationrepresentations, undertaking undertakings and agreement agreements by Christiana Bank & Wilmington Trust Company but is made and intended for the purpose of for binding only the Issuer, (c) nothing herein contained shall be construed as creating any liability on Christiana Bank & of Wilmington Trust Company, individually or personally, to perform any covenant either expressed or implied contained herein, all such liability, if any, being expressly waived by the parties hereto and by any Person claiming by, through or under the parties hereto and (d) under no circumstances shall Christiana Bank & Wilmington Trust Company be personally liable for the payment of any indebtedness or expenses of the Issuer or be liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken by the Issuer under this Agreement Indenture or any other related documents.

No Recourse to Owner Trustee. It is expressly understood and agreed by the parties hereto that (a) this Agreement Indenture is executed and delivered by Christiana Bank & Wilmington Trust Company, not individually or personally personally, but solely as Owner Trustee of the IssuerRenaissance Home Equity Loan Trust 2006-3, in the exercise of the powers and authority conferred and vested in it as trusteeit, (b) each of the representations, undertakings and agreements herein made on the part of the Issuer is made and intended not as a personal representationrepresentations, undertaking undertakings and agreement agreements by Christiana Bank & Wilmington Trust Company but is made and intended for the purpose of for binding only the Issuer, (c) nothing herein contained shall be construed as creating any liability on Christiana Bank & of Wilmington Trust Company, individually or personally, to perform any covenant either expressed or implied contained herein, all such liability, if any, being expressly waived by the parties hereto and by any Person claiming by, through or under the parties hereto and (d) under no circumstances shall Christiana Bank & Wilmington Trust Company be personally liable for the payment of any indebtedness or expenses of the Issuer or be liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken by the Issuer under this Agreement Indenture or any other related documents.

No Recourse to Owner Trustee. It is expressly understood and agreed by the parties hereto that (a) this Agreement is executed and delivered by Christiana Bank & Wilmington Trust Company, not individually or personally personally, but solely as Owner Trustee of the IssuerRenaissance Home Equity Loan Trust 2006-1, in the exercise of the powers and authority conferred and vested in it as trusteeit, (b) each of the representations, undertakings and agreements herein made on the part of the Issuer is made and intended not as a personal representationrepresentations, undertaking undertakings and agreement agreements by Christiana Bank & Wilmington Trust Company but is made and intended for the purpose of for binding only the Issuer, (c) nothing herein contained shall be construed as creating any liability on Christiana Bank & of Wilmington Trust Company, individually or personally, to perform any covenant either expressed or implied contained herein, all such liability, if any, being expressly waived by the parties hereto and by any Person claiming by, through or under the parties hereto and (d) under no circumstances shall Christiana Bank & Wilmington Trust Company be personally liable for the payment of any indebtedness or expenses of the Issuer or be liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken by the Issuer under this Agreement or any other related documents.

No Recourse to Owner Trustee. It is expressly understood and agreed by the parties hereto that (a) this Agreement is executed and delivered by Christiana Bank & Trust Company, not individually or personally but solely as Owner Trustee of the Issuer, in the exercise of the powers and authority conferred and vested in it as trustee, (b) each of the representations, undertakings and agreements herein made on the part of the Issuer Party B is made and intended not as a personal representation, undertaking and agreement by Christiana Bank & Trust Company but is made and intended for the purpose of binding only the IssuerParty B, (c) nothing herein contained shall be construed as creating any liability on Christiana Bank & Trust Company, individually or personally, to perform any covenant either expressed or implied contained herein, all such liability, if any, being expressly waived by the parties hereto and by any Person claiming by, through or under the parties hereto and (d) under no circumstances shall Christiana Bank & Trust Company be personally liable for the payment of any indebtedness or expenses of the Issuer Party B or be liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken by the Issuer Party B under this Agreement or any other related documents.

No Recourse to Owner Trustee. It is expressly understood and agreed by the parties hereto that (a) this Agreement Indenture is executed and delivered by Christiana Bank & Wilmington Trust Company, not individually or personally personally, but solely as Owner Trustee of the IssuerRenaissance Home Equity Loan Trust 2005-4, in the exercise of the powers and authority conferred and vested in it as trusteeit, (b) each of the representations, undertakings and agreements herein made on the part of the Issuer is made and intended not as a personal representationrepresentations, undertaking undertakings and agreement agreements by Christiana Bank & Wilmington Trust Company but is made and intended for the purpose of for binding only the Issuer, (c) nothing herein contained shall be construed as creating any liability on Christiana Bank & of Wilmington Trust Company, individually or personally, to perform any covenant either expressed or implied contained herein, all such liability, if any, being expressly waived by the parties hereto and by any Person claiming by, through or under the parties hereto and (d) under no circumstances shall Christiana Bank & Wilmington Trust Company be personally liable for the payment of any indebtedness or expenses of the Issuer or be liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken by the Issuer under this Agreement Indenture or any other related documents.

No Recourse to Owner Trustee. It is expressly understood and agreed by the parties hereto that (a) this Agreement is executed and delivered by Christiana Bank & Wilmington Trust Company, not individually or personally personally, but solely as Owner Trustee of the IssuerRenaissance Home Equity Loan Trust 2006-4, in the exercise of the powers and authority conferred and vested in it as trusteeit, (b) each of the representations, undertakings and agreements herein made on the part of the Issuer is made and intended not as a personal representationrepresentations, undertaking undertakings and agreement agreements by Christiana Bank & Wilmington Trust Company but is made and intended for the purpose of for binding only the Issuer, (c) nothing herein contained shall be construed as creating any liability on Christiana Bank & of Wilmington Trust Company, individually or personally, to perform any covenant either expressed or implied contained herein, all such liability, if any, being expressly waived by the parties hereto and by any Person claiming by, through or under the parties hereto and (d) under no circumstances shall Christiana Bank & Wilmington Trust Company be personally liable for the payment of any indebtedness or expenses of the Issuer or be liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken by the Issuer under this Agreement or any other related documents.

No Recourse to Owner Trustee. It is expressly understood and agreed by the parties hereto that (a) this Agreement Indenture is executed and delivered by Christiana Bank & Wilmington Trust Company, not individually or personally personally, but solely as Owner Trustee of the IssuerRenaissance Home Equity Loan Trust 2005-2, in the exercise of the powers and authority conferred and vested in it as trusteeit, (b) each of the representations, undertakings and agreements herein made on the part of the Issuer is made and intended not as a personal representationrepresentations, undertaking undertakings and agreement agreements by Christiana Bank & Wilmington Trust Company but is made and intended for the purpose of for binding only the Issuer, (c) nothing herein contained shall be construed as creating any liability on Christiana Bank & of Wilmington Trust Company, individually or personally, to perform any covenant either expressed or implied contained herein, all such liability, if any, being expressly waived by the parties hereto and by any Person claiming by, through or under the parties hereto and (d) under no circumstances shall Christiana Bank & Wilmington Trust Company be personally liable for the payment of any indebtedness or expenses of the Issuer or be liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken by the Issuer under this Agreement Indenture or any other related documents.

No Recourse to Owner Trustee. It is expressly understood and agreed by the parties hereto that (a) this Agreement Indenture is executed and delivered by Christiana Bank & Wilmington Trust Company, not individually or personally personally, but solely as Owner Trustee of the IssuerRenaissance Home Equity Loan Trust 2006-4, in the exercise of the powers and authority conferred and vested in it as trusteeit, (b) each of the representations, undertakings and agreements herein made on the part of the Issuer is made and intended not as a personal representationrepresentations, undertaking undertakings and agreement agreements by Christiana Bank & Wilmington Trust Company but is made and intended for the purpose of for binding only the Issuer, (c) nothing herein contained shall be construed as creating any liability on Christiana Bank & of Wilmington Trust Company, individually or personally, to perform any covenant either expressed or implied contained herein, all such liability, if any, being expressly waived by the parties hereto and by any Person claiming by, through or under the parties hereto and (d) under no circumstances shall Christiana Bank & Wilmington Trust Company be personally liable for the payment of any indebtedness or expenses of the Issuer or be liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken by the Issuer under this Agreement Indenture or any other related documents.

No Recourse to Owner Trustee. It is expressly understood and agreed by the parties hereto that (a) this Agreement Indenture is executed and delivered by Christiana Bank & Wilmington Trust Company, not individually or personally personally, but solely as Owner Trustee of the IssuerRenaissance Home Equity Loan Trust 2006-2, in the exercise of the powers and authority conferred and vested in it as trusteeit, (b) each of the representations, undertakings and agreements herein made on the part of the Issuer is made and intended not as a personal representationrepresentations, undertaking undertakings and agreement agreements by Christiana Bank & Wilmington Trust Company but is made and intended for the purpose of for binding only the Issuer, (c) nothing herein contained shall be construed as creating any liability on Christiana Bank & of Wilmington Trust Company, individually or personally, to perform any covenant either expressed or implied contained herein, all such liability, if any, being expressly waived by the parties hereto and by any Person claiming by, through or under the parties hereto and (d) under no circumstances shall Christiana Bank & Wilmington Trust Company be personally liable for the payment of any indebtedness or expenses of the Issuer or be liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken by the Issuer under this Agreement Indenture or any other related documents.

No Recourse to Owner Trustee. It is expressly understood and agreed by the parties hereto that (a) this Agreement is executed and delivered by Christiana Bank & Wilmington Trust Company, not individually or personally personally, but solely as Owner Trustee of the IssuerRenaissance Home Equity Loan Trust 2005-1, in the exercise of the powers and authority conferred and vested in it as trusteeit, (b) each of the representations, undertakings and agreements herein made on the part of the Issuer is made and intended not as a personal representationrepresentations, undertaking undertakings and agreement agreements by Christiana Bank & Wilmington Trust Company but is made and intended for the purpose of for binding only the Issuer, (c) nothing herein contained shall be construed as creating any liability on Christiana Bank & of Wilmington Trust Company, individually or personally, to perform any covenant either expressed or implied contained herein, all such liability, if any, being expressly waived by the parties hereto and by any Person claiming by, through or under the parties hereto and (d) under no circumstances shall Christiana Bank & Wilmington Trust Company be personally liable for the payment of any indebtedness or expenses of the Issuer or be liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken by the Issuer under this Agreement or any other related documents.

No Recourse to Owner Trustee. It is expressly understood and agreed by the parties hereto that (a) this Agreement is executed and delivered by Christiana Bank & Wilmington Trust Company, not individually or personally personally, but solely as Owner Trustee of the IssuerNew Century Home Equity Loan Trust 2004-1, in the exercise of the powers and authority conferred and vested in it as trusteeit, (b) each of the representations, undertakings and agreements herein made on the part of the Issuer is made and intended not as a personal representationrepresentations, undertaking undertakings and agreement agreements by Christiana Bank & Wilmington Trust Company but is made and intended for the purpose of for binding only the Issuer, (c) nothing herein contained shall be construed as creating any liability on Christiana Bank & of Wilmington Trust Company, individually or personally, to perform any covenant either expressed or implied contained herein, all such liability, if any, being expressly waived by the parties hereto and by any Person claiming by, through or under the parties hereto and (d) under no circumstances shall Christiana Bank & Wilmington Trust Company be personally liable for the payment of any indebtedness or expenses of the Issuer or be liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken by the Issuer under this Agreement or any other related documents.

No Recourse to Owner Trustee. It is expressly understood and agreed by the parties hereto that (a) this Agreement is executed and delivered by Christiana Bank & Wilmington Trust Company, not individually or personally personally, but solely as Owner Trustee of the IssuerRenaissance Home Equity Loan Trust 2006-2, in the exercise of the powers and authority conferred and vested in it as trusteeit, (b) each of the representations, undertakings and agreements herein made on the part of the Issuer is made and intended not as a personal representationrepresentations, undertaking undertakings and agreement agreements by Christiana Bank & Wilmington Trust Company but is made and intended for the purpose of for binding only the Issuer, (c) nothing herein contained shall be construed as creating any liability on Christiana Bank & of Wilmington Trust Company, individually or personally, to perform any covenant either expressed or implied contained herein, all such liability, if any, being expressly waived by the parties hereto and by any Person claiming by, through or under the parties hereto and (d) under no circumstances shall Christiana Bank & Wilmington Trust Company be personally liable for the payment of any indebtedness or expenses of the Issuer or be liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken by the Issuer under this Agreement or any other related documents.

No Recourse to Owner Trustee. It is expressly understood and agreed by the parties hereto that (a) this Agreement is executed and delivered by Christiana Bank & Wilmington Trust Company, not individually or personally personally, but solely as Owner Trustee of the IssuerRenaissance Home Equity Loan Trust 2007-1, in the exercise of the powers and authority conferred and vested in it as trusteeit, (b) each of the representations, undertakings and agreements herein made on the part of the Issuer is made and intended not as a personal representationrepresentations, undertaking undertakings and agreement agreements by Christiana Bank & Wilmington Trust Company but is made and intended for the purpose of for binding only the Issuer, (c) nothing herein contained shall be construed as creating any liability on Christiana Bank & of Wilmington Trust Company, individually or personally, to perform any covenant either expressed or implied contained herein, all such liability, if any, being expressly waived by the parties hereto and by any Person claiming by, through or under the parties hereto and (d) under no circumstances shall Christiana Bank & Wilmington Trust Company be personally liable for the payment of any indebtedness or expenses of the Issuer or be liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken by the Issuer under this Agreement or any other related documents.

No Recourse to Owner Trustee. It is expressly understood and agreed by the parties hereto that (a) this Agreement is executed and delivered by Christiana Bank & Wilmington Trust Company, not individually or personally personally, but solely as Owner Trustee of the IssuerRenaissance Home Equity Loan Trust 2005-2, in the exercise of the powers and authority conferred and vested in it as trusteeit, (b) each of the representations, undertakings and agreements herein made on the part of the Issuer is made and intended not as a personal representationrepresentations, undertaking undertakings and agreement agreements by Christiana Bank & Wilmington Trust Company but is made and intended for the purpose of for binding only the Issuer, (c) nothing herein contained shall be construed as creating any liability on Christiana Bank & of Wilmington Trust Company, individually or personally, to perform any covenant either expressed or implied contained herein, all such liability, if any, being expressly waived by the parties hereto and by any Person claiming by, through or under the parties hereto and (d) under no circumstances shall Christiana Bank & Wilmington Trust Company be personally liable for the payment of any indebtedness or expenses of the Issuer or be liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken by the Issuer under this Agreement or any other related documents.

No Recourse to Owner Trustee. It is expressly understood and agreed by the parties hereto that (a) this Agreement Indenture is executed and delivered by Christiana Bank & Wilmington Trust Company, not individually or personally personally, but solely as Owner Trustee of the IssuerRenaissance Home Equity Loan Trust 2006-1, in the exercise of the powers and authority conferred and vested in it as trusteeit, (b) each of the representations, undertakings and agreements herein made on the part of the Issuer is made and intended not as a personal representationrepresentations, undertaking undertakings and agreement agreements by Christiana Bank & Wilmington Trust Company but is made and intended for the purpose of for binding only the Issuer, (c) nothing herein contained shall be construed as creating any liability on Christiana Bank & of Wilmington Trust Company, individually or personally, to perform any covenant either expressed or implied contained herein, all such liability, if any, being expressly waived by the parties hereto and by any Person claiming by, through or under the parties hereto and (d) under no circumstances shall Christiana Bank & Wilmington Trust Company be personally liable for the payment of any indebtedness or expenses of the Issuer or be liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken by the Issuer under this Agreement Indenture or any other related documents.

No Recourse to Owner Trustee. It is expressly understood and agreed by the parties hereto that (a) this Agreement Indenture is executed and delivered by Christiana Bank & Trust Company, not individually or personally but solely as Owner Trustee of the Issuer, in the exercise of the powers and authority conferred and vested in it as trustee, (b) each of the representations, undertakings and agreements herein made on the part of the Issuer is made and intended not as a personal representation, undertaking and agreement by Christiana Bank & Trust Company but is made and intended for the purpose of binding only the Issuer, (c) nothing herein contained shall be construed as creating any liability on Christiana Bank & Trust Company, individually or personally, to perform any covenant either expressed or implied contained herein, all such liability, if any, being expressly waived by the parties hereto and by any Person claiming by, through or under the parties hereto and (d) under no circumstances shall Christiana Bank & Trust Company be personally liable for the payment of any indebtedness or expenses of the Issuer or be liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken by the Issuer under this Agreement Indenture or any other related documents.

No Recourse to Owner Trustee. It is expressly understood and agreed by the parties hereto that (a) this Agreement Indenture is executed and delivered by Christiana Bank & Wilmington Trust Company, not individually or personally personally, but solely as Owner Trustee of the IssuerRenaissance Home Equity Loan Trust 2007-2, in the exercise of the powers and authority conferred and vested in it as trusteeit, (b) each of the representations, undertakings and agreements herein made on the part of the Issuer is made and intended not as a personal representationrepresentations, undertaking undertakings and agreement agreements by Christiana Bank & Wilmington Trust Company but is made and intended for the purpose of for binding only the Issuer, (c) nothing herein contained shall be construed as creating any liability on Christiana Bank & of Wilmington Trust Company, individually or personally, to perform any covenant either expressed or implied contained herein, all such liability, if any, being expressly waived by the parties hereto and by any Person claiming by, through or under the parties hereto and (d) under no circumstances shall Christiana Bank & Wilmington Trust Company be personally liable for the payment of any indebtedness or expenses of the Issuer or be liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken by the Issuer under this Agreement Indenture or any other related documents.