No Set-Off. Each of the Master Collateral Agent and the Indenture Trustee hereby acknowledges and agrees that it shall not setoff, appropriate or apply any amounts held by it in any Trust Account or Series 2023-5 Account under any Transaction Document or Series Related Document against any amounts owed by the Trust to U.S. Bank Trust Company, National Association as a Lender or Noteholder under any Trust Financing, except as expressly permitted pursuant to the (i) Transaction Documents and (ii) Series Related Documents for the Series against which such amounts may be set-off, appropriated or otherwise applied. The foregoing shall in no way limit any other rights or remedies of the Master Collateral Agent or Indenture Trustee under or in connection with the Transaction Document or Series Related Documents.
Appears in 2 contracts
Sources: Indenture (Verizon Master Trust), Indenture Agreement (Verizon Master Trust)
No Set-Off. Each of the Master Collateral Agent and the Indenture Trustee hereby acknowledges and agrees that it shall not setoff, appropriate or apply any amounts held by it in any Trust Account or Series 20232024-5 6 Account under any Transaction Document or Series Related Document against any amounts owed by the Trust to U.S. Bank Trust Company, National Association as a Lender or Noteholder under any Trust Financing, except as expressly permitted pursuant to the (i) Transaction Documents and (ii) Series Related Documents for the Series against which such amounts may be set-off, appropriated or otherwise applied. The foregoing shall in no way limit any other rights or remedies of the Master Collateral Agent or Indenture Trustee under or in connection with the Transaction Document or Series Related Documents.
Appears in 2 contracts
Sources: Indenture (Verizon Master Trust), Indenture (Verizon Master Trust)
No Set-Off. Each of the Master Collateral Agent and the Indenture Trustee hereby acknowledges and agrees that it shall not setoff, appropriate or apply any amounts held by it in any Trust Account or Series 2023[_]-5 [_] Account under any Transaction Document or Series Related Document against any amounts owed by the Trust to U.S. Bank Trust Company, National Association [___] as a Lender or Noteholder under any Trust Financing, except as expressly permitted pursuant to the (i) Transaction Documents and (ii) Series Related Documents for the Series against which such amounts may be set-off, appropriated or otherwise applied. The foregoing shall in no way limit any other rights or remedies of the Master Collateral Agent or Indenture Trustee under or in connection with the Transaction Document or Series Related Documents.]
Appears in 2 contracts
Sources: Indenture Agreement (Verizon Master Trust), Indenture Agreement (Verizon Master Trust)
No Set-Off. Each of the Master Collateral Agent and the Indenture Trustee hereby acknowledges and agrees that it shall not setoff, appropriate or apply any amounts held by it in any Trust Account or Series 20232025-5 3 Account under any Transaction Document or Series Related Document against any amounts owed by the Trust to U.S. Bank Trust Company, National Association as a Lender or Noteholder under any Trust Financing, except as expressly permitted pursuant to the (i) Transaction Documents and (ii) Series Related Documents for the Series against which such amounts may be set-off, appropriated or otherwise applied. The foregoing shall in no way limit any other rights or remedies of the Master Collateral Agent or Indenture Trustee under or in connection with the Transaction Document or Series Related Documents.
Appears in 2 contracts
Sources: Indenture (Verizon Master Trust), Indenture (Verizon Master Trust)
No Set-Off. Each of the Master Collateral Agent and the Indenture Trustee hereby acknowledges and agrees that it shall not setoff, appropriate or apply any amounts held by it in any Trust Account or Series 20232024-5 8 Account under any Transaction Document or Series Related Document against any amounts owed by the Trust to U.S. Bank Trust Company, National Association as a Lender or Noteholder under any Trust Financing, except as expressly permitted pursuant to the (i) Transaction Documents and (ii) Series Related Documents for the Series against which such amounts may be set-off, appropriated or otherwise applied. The foregoing shall in no way limit any other rights or remedies of the Master Collateral Agent or Indenture Trustee under or in connection with the Transaction Document or Series Related Documents.
Appears in 2 contracts
Sources: Indenture (Verizon Master Trust), Indenture (Verizon Master Trust)
No Set-Off. Each of the Master Collateral Agent and the Indenture Trustee hereby acknowledges and agrees that it shall not setoff, appropriate or apply any amounts held by it in any Trust Account or Series 2023-5 2 Account under any Transaction Document or Series Related Document against any amounts owed by the Trust to U.S. Bank Trust Company, National Association as a Lender or Noteholder under any Trust Financing, except as expressly permitted pursuant to the (i) Transaction Documents and (ii) Series Related Documents for the Series against which such amounts may be set-off, appropriated or otherwise applied. The foregoing shall in no way limit any other rights or remedies of the Master Collateral Agent or Indenture Trustee under or in connection with the Transaction Document or Series Related Documents.
Appears in 2 contracts
Sources: Indenture (Verizon Master Trust), Indenture Agreement (Verizon Master Trust)
No Set-Off. Each of the Master Collateral Agent and the Indenture Trustee hereby acknowledges and agrees that it shall not setoff, appropriate or apply any amounts held by it in any Trust Account or Series 20232024-5 4 Account under any Transaction Document or Series Related Document against any amounts owed by the Trust to U.S. Bank Trust Company, National Association as a Lender or Noteholder under any Trust Financing, except as expressly permitted pursuant to the (i) Transaction Documents and (ii) Series Related Documents for the Series against which such amounts may be set-off, appropriated or otherwise applied. The foregoing shall in no way limit any other rights or remedies of the Master Collateral Agent or Indenture Trustee under or in connection with the Transaction Document or Series Related Documents.
Appears in 2 contracts
Sources: Indenture (Verizon Master Trust), Indenture Agreement (Verizon Master Trust)
No Set-Off. Each of the Master Collateral Agent and the Indenture Trustee hereby acknowledges and agrees that it shall not setoff, appropriate or apply any amounts held by it in any Trust Account or Series 20232022-5 1 Account under any Transaction Document or Series Related Document against any amounts owed by the Trust to U.S. Bank Trust Company, National Association as a Lender or Noteholder under any Trust Financing, except as expressly permitted pursuant to the (i) Transaction Documents and (ii) Series Related Documents for the Series against which such amounts may be set-off, appropriated or otherwise applied. The foregoing shall in no way limit any other rights or remedies of the Master Collateral Agent or Indenture Trustee under or in connection with the Transaction Document or Series Related Documents.
Appears in 2 contracts
Sources: Indenture (Verizon Master Trust), Indenture Agreement (Verizon Master Trust)
No Set-Off. Each of the Master Collateral Agent and the Indenture Trustee hereby acknowledges and agrees that it shall not setoff, appropriate or apply any amounts held by it in any Trust Account or Series 20232025-5 7 Account under any Transaction Document or Series Related Document against any amounts owed by the Trust to U.S. Bank Trust Company, National Association as a Lender or Noteholder under any Trust Financing, except as expressly permitted pursuant to the (i) Transaction Documents and (ii) Series Related Documents for the Series against which such amounts may be set-off, appropriated or otherwise applied. The foregoing shall in no way limit any other rights or remedies of the Master Collateral Agent or Indenture Trustee under or in connection with the Transaction Document or Series Related Documents.
Appears in 2 contracts
Sources: Indenture (Verizon Master Trust), Indenture Agreement (Verizon Master Trust)
No Set-Off. Each of the Master Collateral Agent and the Indenture Trustee hereby acknowledges and agrees that it shall not setoff, appropriate or apply any amounts held by it in any Trust Account or Series 2023-5 4 Account under any Transaction Document or Series Related Document against any amounts owed by the Trust to U.S. Bank Trust Company, National Association as a Lender or Noteholder under any Trust Financing, except as expressly permitted pursuant to the (i) Transaction Documents and (ii) Series Related Documents for the Series against which such amounts may be set-off, appropriated or otherwise applied. The foregoing shall in no way limit any other rights or remedies of the Master Collateral Agent or Indenture Trustee under or in connection with the Transaction Document or Series Related Documents.
Appears in 2 contracts
Sources: Indenture (Verizon Master Trust), Indenture (Verizon Master Trust)
No Set-Off. Each of the Master Collateral Agent and the Indenture Trustee hereby acknowledges and agrees that it shall not setoff, appropriate or apply any amounts held by it in any Trust Account or Series 20232025-5 Account under any Transaction Document or Series Related Document against any amounts owed by the Trust to U.S. Bank Trust Company, National Association as a Lender or Noteholder under any Trust Financing, except as expressly permitted pursuant to the (i) Transaction Documents and (ii) Series Related Documents for the Series against which such amounts may be set-off, appropriated or otherwise applied. The foregoing shall in no way limit any other rights or remedies of the Master Collateral Agent or Indenture Trustee under or in connection with the Transaction Document or Series Related Documents.
Appears in 2 contracts
Sources: Indenture (Verizon Master Trust), Indenture (Verizon Master Trust)
No Set-Off. Each of the Master Collateral Agent and the Indenture Trustee hereby acknowledges and agrees that it shall not setoff, appropriate or apply any amounts held by it in any Trust Account or Series 2023-5 7 Account under any Transaction Document or Series Related Document against any amounts owed by the Trust to U.S. Bank Trust Company, National Association as a Lender or Noteholder under any Trust Financing, except as expressly permitted pursuant to the (i) Transaction Documents and (ii) Series Related Documents for the Series against which such amounts may be set-off, appropriated or otherwise applied. The foregoing shall in no way limit any other rights or remedies of the Master Collateral Agent or Indenture Trustee under or in connection with the Transaction Document or Series Related Documents.
Appears in 2 contracts
Sources: Indenture (Verizon Master Trust), Indenture Agreement (Verizon Master Trust)
No Set-Off. Each of the Master Collateral Agent and the Indenture Trustee hereby acknowledges and agrees that it shall not setoff, appropriate or apply any amounts held by it in any Trust Account or Series 20232024-5 3 Account under any Transaction Document or Series Related Document against any amounts owed by the Trust to U.S. Bank Trust Company, National Association as a Lender or Noteholder under any Trust Financing, except as expressly permitted pursuant to the (i) Transaction Documents and (ii) Series Related Documents for the Series against which such amounts may be set-off, appropriated or otherwise applied. The foregoing shall in no way limit any other rights or remedies of the Master Collateral Agent or Indenture Trustee under or in connection with the Transaction Document or Series Related Documents.
Appears in 2 contracts
Sources: Indenture (Verizon Master Trust), Indenture (Verizon Master Trust)
No Set-Off. Each of the Master Collateral Agent and the Indenture Trustee hereby acknowledges and agrees that it shall not setoff, appropriate or apply any amounts held by it in any Trust Account or Series 20232024-5 1 Account under any Transaction Document or Series Related Document against any amounts owed by the Trust to U.S. Bank Trust Company, National Association as a Lender or Noteholder under any Trust Financing, except as expressly permitted pursuant to the (i) Transaction Documents and (ii) Series Related Documents for the Series against which such amounts may be set-off, appropriated or otherwise applied. The foregoing shall in no way limit any other rights or remedies of the Master Collateral Agent or Indenture Trustee under or in connection with the Transaction Document or Series Related Documents.
Appears in 2 contracts
Sources: Indenture (Verizon Master Trust), Indenture (Verizon Master Trust)
No Set-Off. Each of the Master Collateral Agent and the Indenture Trustee hereby acknowledges and agrees that it shall not setoff, appropriate or apply any amounts held by it in any Trust Account or Series 20232022-5 4 Account under any Transaction Document or Series Related Document against any amounts owed by the Trust to U.S. Bank Trust Company, National Association as a Lender or Noteholder under any Trust Financing, except as expressly permitted pursuant to the (i) Transaction Documents and (ii) Series Related Documents for the Series against which such amounts may be set-off, appropriated or otherwise applied. The foregoing shall in no way limit any other rights or remedies of the Master Collateral Agent or Indenture Trustee under or in connection with the Transaction Document or Series Related Documents.
Appears in 2 contracts
Sources: Indenture (Verizon Master Trust), Indenture Agreement (Verizon Master Trust)
No Set-Off. Each of the Master Collateral Agent and the Indenture Trustee hereby acknowledges and agrees that it shall not setoff, appropriate or apply any amounts held by it in any Trust Account or Series 20232025-5 9 Account under any Transaction Document or Series Related Document against any amounts owed by the Trust to U.S. Bank Trust Company, National Association as a Lender or Noteholder under any Trust Financing, except as expressly permitted pursuant to the (i) Transaction Documents and (ii) Series Related Documents for the Series against which such amounts may be set-off, appropriated or otherwise applied. The foregoing shall in no way limit any other rights or remedies of the Master Collateral Agent or Indenture Trustee under or in connection with the Transaction Document or Series Related Documents.
Appears in 2 contracts
Sources: Indenture (Verizon Master Trust), Indenture Agreement (Verizon Master Trust)
No Set-Off. Each of the Master Collateral Agent and the Indenture Trustee hereby acknowledges and agrees that it shall not setoff, appropriate or apply any amounts held by it in any Trust Account or Series 20232022-5 7 Account under any Transaction Document or Series Related Document against any amounts owed by the Trust to U.S. Bank Trust Company, National Association as a Lender or Noteholder under any Trust Financing, except as expressly permitted pursuant to the (i) Transaction Documents and (ii) Series Related Documents for the Series against which such amounts may be set-off, appropriated or otherwise applied. The foregoing shall in no way limit any other rights or remedies of the Master Collateral Agent or Indenture Trustee under or in connection with the Transaction Document or Series Related Documents.
Appears in 2 contracts
Sources: Indenture (Verizon Master Trust), Indenture Agreement (Verizon Master Trust)
No Set-Off. Each of the Master Collateral Agent and the Indenture Trustee hereby acknowledges and agrees that it shall not setoff, appropriate or apply any amounts held by it in any Trust Account or Series 20232025-5 1 Account under any Transaction Document or Series Related Document against any amounts owed by the Trust to U.S. Bank Trust Company, National Association as a Lender or Noteholder under any Trust Financing, except as expressly permitted pursuant to the (i) Transaction Documents and (ii) Series Related Documents for the Series against which such amounts may be set-off, appropriated or otherwise applied. The foregoing shall in no way limit any other rights or remedies of the Master Collateral Agent or Indenture Trustee under or in connection with the Transaction Document or Series Related Documents.
Appears in 2 contracts
Sources: Indenture (Verizon Master Trust), Indenture Agreement (Verizon Master Trust)
No Set-Off. Each of the Master Collateral Agent and the Indenture Trustee hereby acknowledges and agrees that it shall not setoff, appropriate or apply any amounts held by it in any Trust Account or Series 20232022-5 2 Account under any Transaction Document or Series Related Document against any amounts owed by the Trust to U.S. Bank Trust Company, National Association as a Lender or Noteholder under any Trust Financing, except as expressly permitted pursuant to the (i) Transaction Documents and (ii) Series Related Documents for the Series against which such amounts may be set-off, appropriated or otherwise applied. The foregoing shall in no way limit any other rights or remedies of the Master Collateral Agent or Indenture Trustee under or in connection with the Transaction Document or Series Related Documents.
Appears in 2 contracts
Sources: Indenture (Verizon Master Trust), Indenture Agreement (Verizon Master Trust)
No Set-Off. Each of the Master Collateral Agent and the Indenture Trustee hereby acknowledges and agrees that it shall not setoff, appropriate or apply any amounts held by it in any Trust Account or Series 2023-5 1 Account under any Transaction Document or Series Related Document against any amounts owed by the Trust to U.S. Bank Trust Company, National Association as a Lender or Noteholder under any Trust Financing, except as expressly permitted pursuant to the (i) Transaction Documents and (ii) Series Related Documents for the Series against which such amounts may be set-off, appropriated or otherwise applied. The foregoing shall in no way limit any other rights or remedies of the Master Collateral Agent or Indenture Trustee under or in connection with the Transaction Document or Series Related Documents.
Appears in 2 contracts
Sources: Indenture (Verizon Master Trust), Indenture Agreement (Verizon Master Trust)
No Set-Off. Each of the Master Collateral Agent and the Indenture Trustee hereby acknowledges and agrees that it shall not setoff, appropriate or apply any amounts held by it in any Trust Account or Series 20232022-5 3 Account under any Transaction Document or Series Related Document against any amounts owed by the Trust to U.S. Bank Trust Company, National Association as a Lender or Noteholder under any Trust Financing, except as expressly permitted pursuant to the (i) Transaction Documents and (ii) Series Related Documents for the Series against which such amounts may be set-off, appropriated or otherwise applied. The foregoing shall in no way limit any other rights or remedies of the Master Collateral Agent or Indenture Trustee under or in connection with the Transaction Document or Series Related Documents.
Appears in 2 contracts
Sources: Indenture (Verizon Master Trust), Indenture (Verizon Master Trust)
No Set-Off. Each of the Master Collateral Agent and the Indenture Trustee hereby acknowledges and agrees that it shall not setoff, appropriate or apply any amounts held by it in any Trust Account or Series 20232025-5 8 Account under any Transaction Document or Series Related Document against any amounts owed by the Trust to U.S. Bank Trust Company, National Association as a Lender or Noteholder under any Trust Financing, except as expressly permitted pursuant to the (i) Transaction Documents and (ii) Series Related Documents for the Series against which such amounts may be set-off, appropriated or otherwise applied. The foregoing shall in no way limit any other rights or remedies of the Master Collateral Agent or Indenture Trustee under or in connection with the Transaction Document or Series Related Documents.
Appears in 1 contract
Sources: Indenture (Verizon Master Trust)
No Set-Off. Each of the Master Collateral Agent and the Indenture Trustee hereby acknowledges and agrees that it shall not setoff, appropriate or apply any amounts held by it in any Trust Account or Series 20232024-5 2 Account under any Transaction Document or Series Related Document against any amounts owed by the Trust to U.S. Bank Trust Company, National Association as a Lender or Noteholder under any Trust Financing, except as expressly permitted pursuant to the (i) Transaction Documents and (ii) Series Related Documents for the Series against which such amounts may be set-off, appropriated or otherwise applied. The foregoing shall in no way limit any other rights or remedies of the Master Collateral Agent or Indenture Trustee under or in connection with the Transaction Document or Series Related Documents.
Appears in 1 contract
Sources: Indenture (Verizon Master Trust)
No Set-Off. Each of the Master Collateral Agent and the Indenture Trustee hereby acknowledges and agrees that it shall not setoff, appropriate or apply any amounts held by it in any Trust Account or Series 20232024-5 Account under any Transaction Document or Series Related Document against any amounts owed by the Trust to U.S. Bank Trust Company, National Association as a Lender or Noteholder under any Trust Financing, except as expressly permitted pursuant to the (i) Transaction Documents and (ii) Series Related Documents for the Series against which such amounts may be set-off, appropriated or otherwise applied. The foregoing shall in no way limit any other rights or remedies of the Master Collateral Agent or Indenture Trustee under or in connection with the Transaction Document or Series Related Documents.
Appears in 1 contract
Sources: Indenture (Verizon Master Trust)
No Set-Off. Each of the Master Collateral Agent and the Indenture Trustee hereby acknowledges and agrees that it shall not setoff, appropriate or apply any amounts held by it in any Trust Account or Series 2023-5 6 Account under any Transaction Document or Series Related Document against any amounts owed by the Trust to U.S. Bank Trust Company, National Association as a Lender or Noteholder under any Trust Financing, except as expressly permitted pursuant to the (i) Transaction Documents and (ii) Series Related Documents for the Series against which such amounts may be set-off, appropriated or otherwise applied. The foregoing shall in no way limit any other rights or remedies of the Master Collateral Agent or Indenture Trustee under or in connection with the Transaction Document or Series Related Documents.
Appears in 1 contract
Sources: Indenture (Verizon Master Trust)
No Set-Off. Each of the Master Collateral Agent and the Indenture Trustee hereby acknowledges and agrees that it shall not setoff, appropriate or apply any amounts held by it in any Trust Account or Series 20232024-5 7 Account under any Transaction Document or Series Related Document against any amounts owed by the Trust to U.S. Bank Trust Company, National Association as a Lender or Noteholder under any Trust Financing, except as expressly permitted pursuant to the (i) Transaction Documents and (ii) Series Related Documents for the Series against which such amounts may be set-off, appropriated or otherwise applied. The foregoing shall in no way limit any other rights or remedies of the Master Collateral Agent or Indenture Trustee under or in connection with the Transaction Document or Series Related Documents.
Appears in 1 contract
Sources: Indenture (Verizon Master Trust)
No Set-Off. Each of the Master Collateral Agent and the Indenture Trustee hereby acknowledges and agrees that it shall not setoff, appropriate or apply any amounts held by it in any Trust Account or Series 20232025-5 10 Account under any Transaction Document or Series Related Document against any amounts owed by the Trust to U.S. Bank Trust Company, National Association as a Lender or Noteholder under any Trust Financing, except as expressly permitted pursuant to the (i) Transaction Documents and (ii) Series Related Documents for the Series against which such amounts may be set-off, appropriated or otherwise applied. The foregoing shall in no way limit any other rights or remedies of the Master Collateral Agent or Indenture Trustee under or in connection with the Transaction Document or Series Related Documents.
Appears in 1 contract
Sources: Indenture (Verizon Master Trust)
No Set-Off. Each of the Master Collateral Agent and the Indenture Trustee hereby acknowledges and agrees that it shall not setoff, appropriate or apply any amounts held by it in any Trust Account or Series 20232022-5 Account under any Transaction Document or Series Related Document against any amounts owed by the Trust to U.S. Bank Trust Company, National Association as a Lender or Noteholder under any Trust Financing, except as expressly permitted pursuant to the (i) Transaction Documents and (ii) Series Related Documents for the Series against which such amounts may be set-off, appropriated or otherwise applied. The foregoing shall in no way limit any other rights or remedies of the Master Collateral Agent or Indenture Trustee under or in connection with the Transaction Document or Series Related Documents.
Appears in 1 contract
Sources: Indenture (Verizon Master Trust)
No Set-Off. Each of the Master Collateral Agent and the Indenture Trustee hereby acknowledges and agrees that it shall not setoff, appropriate or apply any amounts held by it in any Trust Account or Series 20232022-5 6 Account under any Transaction Document or Series Related Document against any amounts owed by the Trust to U.S. Bank Trust Company, National Association as a Lender or Noteholder under any Trust Financing, except as expressly permitted pursuant to the (i) Transaction Documents and (ii) Series Related Documents for the Series against which such amounts may be set-off, appropriated or otherwise applied. The foregoing shall in no way limit any other rights or remedies of the Master Collateral Agent or Indenture Trustee under or in connection with the Transaction Document or Series Related Documents.
Appears in 1 contract
Sources: Indenture (Verizon Master Trust)
No Set-Off. Each of the Master Collateral Agent and the Indenture Trustee hereby acknowledges and agrees that it shall not setoff, appropriate or apply any amounts held by it in any Trust Account or Series 20232025-5 6 Account under any Transaction Document or Series Related Document against any amounts owed by the Trust to U.S. Bank Trust Company, National Association as a Lender or Noteholder under any Trust Financing, except as expressly permitted pursuant to the (i) Transaction Documents and (ii) Series Related Documents for the Series against which such amounts may be set-off, appropriated or otherwise applied. The foregoing shall in no way limit any other rights or remedies of the Master Collateral Agent or Indenture Trustee under or in connection with the Transaction Document or Series Related Documents.
Appears in 1 contract
Sources: Indenture (Verizon Master Trust)
No Set-Off. Each of the Master Collateral Agent and the Indenture Trustee hereby acknowledges and agrees that it shall not setoff, appropriate or apply any amounts held by it in any Trust Account or Series 2023-5 3 Account under any Transaction Document or Series Related Document against any amounts owed by the Trust to U.S. Bank Trust Company, National Association as a Lender or Noteholder under any Trust Financing, except as expressly permitted pursuant to the (i) Transaction Documents and (ii) Series Related Documents for the Series against which such amounts may be set-off, appropriated or otherwise applied. The foregoing shall in no way limit any other rights or remedies of the Master Collateral Agent or Indenture Trustee under or in connection with the Transaction Document or Series Related Documents.
Appears in 1 contract
Sources: Indenture (Verizon Master Trust)
No Set-Off. Each of the Master Collateral Agent and the Indenture Trustee hereby acknowledges and agrees that it shall not setoff, appropriate or apply any amounts held by it in any Trust Account or Series 20232025-5 4 Account under any Transaction Document or Series Related Document against any amounts owed by the Trust to U.S. Bank Trust Company, National Association as a Lender or Noteholder under any Trust Financing, except as expressly permitted pursuant to the (i) Transaction Documents and (ii) Series Related Documents for the Series against which such amounts may be set-off, appropriated or otherwise applied. The foregoing shall in no way limit any other rights or remedies of the Master Collateral Agent or Indenture Trustee under or in connection with the Transaction Document or Series Related Documents.
Appears in 1 contract
Sources: Indenture (Verizon Master Trust)
No Set-Off. Each of the Master Collateral Agent and the Indenture Trustee hereby acknowledges and agrees that it shall not setoff, appropriate or apply any amounts held by it in any Trust Account or Series 20232025-5 2 Account under any Transaction Document or Series Related Document against any amounts owed by the Trust to U.S. Bank Trust Company, National Association as a Lender or Noteholder under any Trust Financing, except as expressly permitted pursuant to the (i) Transaction Documents and (ii) Series Related Documents for the Series against which such amounts may be set-off, appropriated or otherwise applied. The foregoing shall in no way limit any other rights or remedies of the Master Collateral Agent or Indenture Trustee under or in connection with the Transaction Document or Series Related Documents.
Appears in 1 contract
Sources: Indenture (Verizon Master Trust)