Non-recourse Obligations. Notwithstanding anything in this Agreement or any other Basic Document, the Owner Trustee agrees that all obligations of the Trust or the Owner Trustee on behalf of the Trust shall be recourse to the Trust Property only, shall be paid in accordance with the priorities set forth in Section 5.08 of the Sale and Servicing Agreement and specifically shall not be recourse to the assets of any Holder. U.S. Bank Trust National Association agrees not to seek recourse against any Holder, in its capacity as a Holder, with respect to any obligations of the Trust owed to it.
Appears in 17 contracts
Samples: Trust Agreement (Credit Acceptance Corp), Trust Agreement (Credit Acceptance Corp), Trust Agreement (Credit Acceptance Corp)
Non-recourse Obligations. Notwithstanding anything in this Agreement or any other Basic Document, the Owner Trustee agrees that all obligations of the Trust or the Owner Trustee on behalf of the Trust shall be recourse to the Trust Property only, shall be paid in accordance with the priorities set forth in Section 5.08 of the Sale and Servicing Agreement and specifically shall not be recourse to the assets of any Holder. U.S. Bank Trust National Association agrees not to seek recourse against any Holder, in its capacity as a Holder, Holder with respect to any obligations of the Trust owed to it.
Appears in 10 contracts
Samples: Trust Agreement (Credit Acceptance Corp), Trust Agreement (Credit Acceptance Corp), Trust Agreement (Credit Acceptance Corp)
Non-recourse Obligations. Notwithstanding anything in this Agreement or any other Basic Document, the Owner Trustee agrees that all obligations of the Trust or the Owner Trustee on behalf of the Trust shall be recourse to the Trust Property only, shall be paid in accordance with the priorities set forth in Section 5.08 of the Sale and Servicing Agreement and specifically shall not be recourse to the assets of any Holder. U.S. Bank Computershare Delaware Trust National Association Company agrees not to seek recourse against any Holder, in its capacity as a Holder, with respect to any obligations of the Trust owed to it.
Appears in 6 contracts
Samples: Trust Agreement (Credit Acceptance Corp), Trust Agreement (Credit Acceptance Corp), Trust Agreement (Credit Acceptance Corp)
Non-recourse Obligations. Notwithstanding anything in this Agreement or any other Basic Document, the Owner Trustee agrees that all obligations of the Trust individually or the as Owner Trustee on behalf of for the Trust shall be recourse to the Trust Property only, shall be paid in accordance with the priorities set forth in Section 5.08 of the Sale and Servicing Agreement and specifically shall not be recourse to the assets of any Holder. U.S. Bank Trust National Association agrees not to seek recourse against any Holder, in its capacity as a Holder, Holder with respect to any obligations of the Trust owed to it.
Appears in 4 contracts
Samples: Trust Agreement (Credit Acceptance Corporation), Trust Agreement (Credit Acceptance Corporation), Trust Agreement (Credit Acceptance Corporation)
Non-recourse Obligations. Notwithstanding anything in this Agreement or any other Basic Document, the Owner Trustee agrees that all obligations of the Trust individually or the as Owner Trustee on behalf of for the Trust shall be recourse to the Trust Property only, shall be paid in accordance with the priorities set forth in Section 5.08 of the Sale and Servicing Agreement and specifically shall not be recourse to the assets of any Holder. U.S. Wachovia Bank Trust of Delaware, National Association agrees not to seek recourse against any Holder, in its capacity as a Holder, Holder with respect to any obligations of the Trust owed to it.
Appears in 2 contracts
Samples: Trust Agreement (Credit Acceptance Corporation), Trust Agreement (Credit Acceptance Corporation)
Non-recourse Obligations. Notwithstanding anything in this Agreement or any other Basic Document, the Owner Trustee agrees that all obligations of the Trust or the Owner Trustee on behalf of the Trust shall be recourse to the Trust Property only, shall be paid in accordance with the priorities set forth in Section 5.08 of the Sale and Servicing Agreement and specifically shall not be recourse to the assets of any Holder. U.S. Bank Trust National Association agrees not to seek recourse against any Holder, in its capacity as a Holder, with respect to any obligations of the Trust owed to it.. ARTICLE IX
Appears in 1 contract
Samples: Trust Agreement
Non-recourse Obligations. Notwithstanding anything in this Agreement or any other Basic Document, the Owner Trustee agrees that all obligations of the Trust or the Owner Trustee on behalf of the Trust shall be recourse to the Trust Property only, shall be paid in accordance with the priorities set forth in Section 5.08 of the Sale and Servicing Agreement and specifically shall not be recourse to the assets of any Holder. U.S. Bank Trust National Association agrees not to seek recourse against any Holder, in its capacity as a Holder, Holder with respect to any obligations of the Trust owed to it.
Appears in 1 contract
Non-recourse Obligations. Notwithstanding anything in this Agreement or any other Basic Document, the Owner Trustee agrees that all obligations of the Trust or the Owner Trustee on behalf of the Trust shall be recourse to the Trust Property only, shall be paid in accordance with the priorities set forth in Section 5.08 of the Sale and Servicing Agreement and specifically shall not be recourse to the assets of any Holder. U.S. Bank Trust National Association agrees not to seek recourse against any Holder, in its capacity as a Holder, with respect to any obligations of the Trust owed to it.. 474751
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