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 Indenture is executed and delivered by [_____________], not individually or personally, but solely as Owner Trustee of [______________________], in the exercise of the powers and authority conferred and vested in it, (b) each of the representations, undertakings and agreements herein made on the part of the Issuer is made and intended not as personal representations, undertakings and agreements by [_____________] but is made and intended for the purpose for binding only the Issuer, (c) nothing herein contained shall be construed as creating any liability of [_____________], 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 [_____________] 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 Indenture or any other related documents.

No Recourse to Owner Trustee. It is expressly understood and agreed by the parties hereto that (a) this Indenture is executed and delivered by [_____________], not individually or personally, but solely as Owner Trustee of Origen Manufactured Housing Contract Trust [_____________________20__-_], in the exercise of the powers and authority conferred and vested in it, (b) each of the representations, undertakings and agreements herein made on the part of the Issuer is made and intended not as personal representations, undertakings and agreements by [______________] but is made and intended for the purpose for binding only the Issuer, (c) nothing herein contained shall be construed as creating any liability of [______________], 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 [______________] 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 Indenture or any other related documents.

No Recourse to Owner Trustee. It is expressly understood and agreed by the parties hereto that (a) this Indenture Agreement is executed and delivered by [_____________], not individually or personally, but solely as Owner Trustee of [Ameriquest Mortgage Securities Trust 200_-______________________], in the exercise of the powers and authority conferred and vested in it, (b) each of the representations, undertakings and agreements herein made on the part of the Issuer is made and intended not as personal representations, undertakings and agreements by [_____________] but is made and intended for the purpose for binding only the Issuer, (c) nothing herein contained shall be construed as creating any liability of [_____________], 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 [_____________] 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 Indenture Agreement or any other related documents.

No Recourse to Owner Trustee. It is expressly understood and agreed by the parties hereto that (a) this Indenture Agreement is executed and delivered by [_____________], not individually or personally, but solely as Owner Trustee of [Park Place Securities Trust 200_-______________________], in the exercise of the powers and authority conferred and vested in it, (b) each of the representations, undertakings and agreements herein made on the part of the Issuer is made and intended not as personal representations, undertakings and agreements by [_____________] but is made and intended for the purpose for binding only the Issuer, (c) nothing herein contained shall be construed as creating any liability of [_____________], 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 [_____________] 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 Indenture Agreement or any other related documents.

No Recourse to Owner Trustee. It is expressly understood and agreed by the parties hereto that (a) this Indenture is executed and delivered by [_____________]Wilmington Trust Company, not individually or personally, but solely as Owner Trustee of [______________________]Renaissance Home Equity Loan Trust 2005-1, in the exercise of the powers and authority conferred and vested in it, (b) each of the representations, undertakings and agreements herein made on the part of the Issuer is made and intended not as personal representations, undertakings and agreements by [_____________] Wilmington Trust Company but is made and intended for the purpose for binding only the Issuer, (c) nothing herein contained shall be construed as creating any liability 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 [_____________] 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 Indenture or any other related documents.

No Recourse to Owner Trustee. It is expressly understood and agreed by the parties hereto that (a) this Indenture Agreement is executed and delivered by [____________________], not individually or personally, but solely as Owner Trustee of Origen Manufactured Housing Contract Trust 200[_]-[______________________], in the exercise of the powers and authority conferred and vested in it, (b) each of the representations, undertakings and agreements herein made on the part of the Issuer is made and intended not as personal representations, undertakings and agreements by [____________________] but is made and intended for the purpose for binding only the Issuer, (c) nothing herein contained shall be construed as creating any liability of [____________________], 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 [____________________] 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 Indenture Agreement or any other related documents.

No Recourse to Owner Trustee. It is expressly understood and agreed by the parties hereto that (a) this Indenture Agreement is executed and delivered by [________________________], not individually or personally, but solely as Owner Trustee of [Origen Manufactured Housing Contract Trust 20__-______________________], in the exercise of the powers and authority conferred and vested in it, (b) each of the representations, undertakings and agreements herein made on the part of the Issuer is made and intended not as personal representations, undertakings and agreements by [________________________] but is made and intended for the purpose for binding only the Issuer, (c) nothing herein contained shall be construed as creating any liability of [________________________], 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 [________________________] 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 Indenture Agreement or any other related documents.

No Recourse to Owner Trustee. It is expressly understood and agreed by the parties hereto that (a) this Indenture is executed and delivered by [_____________o], not individually or personally, but solely as Owner Trustee of Renaissance Home Equity Loan Trust [______________________o], in the exercise of the powers and authority conferred and vested in it, (b) each of the representations, undertakings and agreements herein made on the part of the Issuer is made and intended not as personal representations, undertakings and agreements by [_____________o] but is made and intended for the purpose for binding only the Issuer, (c) nothing herein contained shall be construed as creating any liability of [_____________o], 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 [_____________o] 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 Indenture or any other related documents.

No Recourse to Owner Trustee. It is expressly understood and agreed by the parties hereto that (a) this Indenture Agreement is executed and delivered by [_____________o], not individually or personally, but solely as Owner Trustee of Renaissance Home Equity Loan Trust [______________________o], in the exercise of the powers and authority conferred and vested in it, (b) each of the representations, undertakings and agreements herein made on the part of the Issuer is made and intended not as personal representations, undertakings and agreements by [_____________o] but is made and intended for the purpose for binding only the Issuer, (c) nothing herein contained shall be construed as creating any liability of [_____________o], 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 [_____________o] 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 Indenture Agreement or any other related documents.

No Recourse to Owner Trustee. It is expressly understood and agreed by the parties hereto that (a) this Indenture Agreement is executed and delivered by [_____________], not individually or personally, but solely as Owner Trustee of [Boardwalk Mortgage Securities Trust 200_-______________________], in the exercise of the powers and authority conferred and vested in it, (b) each of the representations, undertakings and agreements herein made on the part of the Issuer is made and intended not as personal representations, undertakings and agreements by [_____________] but is made and intended for the purpose for binding only the Issuer, (c) nothing herein contained shall be construed as creating any liability of [_____________], 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 [_____________] 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 Indenture Agreement or any other related documents.

No Recourse to Owner Trustee. It is expressly understood and agreed by the parties hereto that (a) this Indenture Agreement is executed and delivered by [_____________], not individually or personally, but solely as Owner Trustee of [Argent Securities Trust 200_-______________________], in the exercise of the powers and authority conferred and vested in it, (b) each of the representations, undertakings and agreements herein made on the part of the Issuer is made and intended not as personal representations, undertakings and agreements by [_____________] but is made and intended for the purpose for binding only the Issuer, (c) nothing herein contained shall be construed as creating any liability of [_____________], 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 [_____________] 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 Indenture Agreement or any other related documents.