Non-recourse Obligations. Notwithstanding anything in this Agreement or any Basic Document to the contrary, each of the Owner Trustee, the Co-Owner Trustee and the Trust Eligible Lender Trustee agrees in its individual capacity and in its respective capacity as Owner Trustee, Co-Owner Trustee or Trust Eligible Lender Trustee of the Trust that all obligations under this Agreement to the Owner Trustee, the Co-Owner Trustee or the Trust Eligible Lender Trustee, individually or as Trustees, respectively, of the Trust shall be recourse to the Trust Property only and specifically shall not be recourse to the assets of the Certificateholder.
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Samples: Trust Agreement (Education Capital I LLC), Trust Agreement (Education Capital I LLC), Trust Agreement (Education Capital I LLC)
Non-recourse Obligations. Notwithstanding anything in this Agreement or any Basic Document to the contrary, each of the Owner Trustee, the Co-Owner Trustee and the Trust Eligible Lender Trustee agrees in its individual capacity and in its respective capacity as Owner Trustee, Co-Owner Trustee or Trust Eligible Lender Trustee of the Trust that all obligations under this Agreement to the Owner Trustee, the Co-Owner Trustee or the Trust Trust Agreement Eligible Lender Trustee, individually or as Trustees, respectively, of the Trust shall be recourse to the Trust Property only and specifically shall not be recourse to the assets of the Certificateholder.
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