Non-recourse Obligations. Notwithstanding anything in this Agreement or any Transaction Document, (i) the Owner Trustee agrees in its individual capacity and in its capacity as Owner Trustee for the Trust that all obligations of the Trust to the Owner Trustee individually or as Owner Trustee for the Trust shall be recourse to the Trust only and specifically shall not be recourse to the assets of any Noteholder and (ii) the Delaware Trustee agrees in its individual capacity and in its capacity as Delaware Trustee for the Trust that all obligations of the Trust to the Delaware Trustee individually or as Delaware Trustee for the Trust shall be recourse to the Trust only and specifically shall not be recourse to the assets of any Noteholder.
Appears in 8 contracts
Samples: Trust Agreement (Household Mortgage Loan Trust 2004-Hc1), Trust Agreement (HFC Revolving Corp Household Home Equity Ln Tr 2003 1), Trust Agreement (HFC Revolving Corp Household Home Equity Loan Trust 2002-3)
Non-recourse Obligations. Notwithstanding anything in this Agreement or any Transaction Basic Document, (i) the Owner Trustee agrees in its individual capacity and in its capacity as Owner Trustee for the Trust that all obligations of the Trust to the Owner Trustee individually or as Owner Trustee for the Trust shall be recourse to the Owner Trust Estate only and specifically shall not be recourse to the assets of any Noteholder Certificateholder and (ii) the Delaware Trustee agrees in its individual capacity and in its capacity as Delaware Trustee for the Trust that all obligations of the Trust to the Delaware Trustee individually or as Delaware Trustee for the Trust shall be recourse to the Owner Trust Estate only and specifically shall not be recourse to the assets of any NoteholderCertificateholder.
Appears in 4 contracts
Samples: Trust Agreement (HSBC Automotive Trust 2005-2), Trust Agreement (Household Auto Receivables Corp), Trust Agreement (Household Auto Receivables Corp)
