No Recourse to Owner Trustee. It is expressly understood and agreed by and between the parties hereto (i) that this Agreement is executed and delivered by Chase Manhattan Bank Delaware, not in its individual capacity but solely as owner trustee (in such capacity, the "Owner Trustee"), under the Trust Agreement, dated as of the date hereof (the "Trust Agreement"), among Condev Nevada, Inc., the Owner Trustee and [Xxxxx Xxxxxxx and Xxxxx Xxxx as Administrators], in the exercise of the power and authority conferred and vested in it as such Owner Trustee, (ii) each of the representations, undertakings and agreements made herein by the Purchaser are not personal representations, undertakings and agreements of Chase Manhattan Bank Delaware, but are binding only on the Purchaser created pursuant to the Trust Agreement, (iii) nothing contained herein shall be construed as creating any liability on Chase Manhattan Bank Delaware, individually or personally, to perform any covenant of the Purchaser 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 any such party, and (iv) under no circumstances shall Chase Manhattan Bank Delaware be personally liable for the payment of any indebtedness or expense of the Purchaser or be liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken by the Purchaser under this Agreement.
Appears in 4 contracts
Samples: Dic Receivables Purchase Agreement (Dillard Asset Funding Co), Mfi Receivables Purchase Agreement (Dillard Asset Funding Co), DNB Receivables Purchase Agreement (Dillard Asset Funding Co)
No Recourse to Owner Trustee. It is expressly understood ---------------------------- and agreed by and between the parties hereto (i) that this Agreement is executed and delivered by Chase Manhattan Bank Delaware, not in its individual capacity but solely as owner trustee (in such capacity, the "Owner Trustee"), under the Trust Agreement, dated as of the date hereof (the "Trust Agreement"), among Condev Nevada, Inc., the Owner Trustee and [Xxxxx Xxxxxxx and Xxxxx Xxxx as Administrators], in the exercise of the power and authority conferred and vested in it as such Owner Trustee, (ii) each of the representations, undertakings and agreements made herein by the Purchaser are not personal representations, undertakings and agreements of Chase Manhattan Bank Delaware, but are binding only on the Purchaser created pursuant to the Trust Agreement, (iii) nothing contained herein shall be construed as creating any liability on Chase Manhattan Bank Delaware, individually or personally, to perform any covenant of the Purchaser 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 any such party, and (iv) under no circumstances shall Chase Manhattan Bank Delaware be personally liable for the payment of any indebtedness or expense of the Purchaser or be liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken by the Purchaser under this Agreement.
Appears in 1 contract
Samples: DNB Receivables Purchase Agreement (Dillard Asset Funding Co)
