Common use of Nonrecourse and Recourse Obligations; Waiver of Setoff; Obligations Absolute Clause in Contracts

Nonrecourse and Recourse Obligations; Waiver of Setoff; Obligations Absolute. (a) Notwithstanding any provision in any other Section of this Agreement to the contrary, but subject to Section 2.09(b) below, the obligation to repay the Repayment Amount shall be without recourse to the Trust Depositor, CFUSA, in its individual capacity and as the Servicer, any Person acting on behalf of either the Trust Depositor or the Servicer, the Trust, the Delaware Trustee, the Owner Trustee, the Indenture Trustee, any Noteholder, any Equity Certificateholder or any affiliate, officer or director of any of them, and the obligation to pay the Repayment Amount shall be limited solely to the application of Investment Earnings, Available Funds, Cash Collateral Account Surplus, and other amounts payable in respect thereof required to be distributed to the Lenders, as described in Section 2.02 hereof, and in the Indenture, and all other amounts on deposit or to be deposited from time to time in the Cash Collateral Account to the extent that such amounts are available for distribution to the Lenders.

Appears in 5 contracts

Samples: Loan Agreement (Cit Equipment Collateral 2003-Vt1), Loan Agreement (Cit Equipment Collateral 2002-Vt1), Loan Agreement (NCT Funding Co LLC)

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Nonrecourse and Recourse Obligations; Waiver of Setoff; Obligations Absolute. (a) Notwithstanding any provision in any other Section of this Agreement to the contrary, but subject to Section 2.09(b) below, the obligation to repay the Repayment Amount shall be without recourse to the Trust Depositor, CFUSATCC, in its individual capacity and as the Servicer, any Person acting on behalf of either the Trust Depositor or the Servicer, the Trust, the Delaware Trustee, the Owner Trustee, the Indenture Trustee, any Noteholder, any Equity Certificateholder or any affiliate, officer or director of any of them, and the obligation to pay the Repayment Amount shall be limited solely to the application of Investment Earnings, Available Funds, Cash Collateral Account Surplus, and other amounts payable in respect thereof required to be distributed to the Lenders, as described in Section 2.02 hereof, and in the Indenture, and all other amounts on deposit or to be deposited from time to time in the Cash Collateral Account to the extent that such amounts are available for distribution to the Lenders.

Appears in 2 contracts

Samples: Loan Agreement (Cit Equipment Collateral 2000-1), Loan Agreement (Cit Equipment Collateral 2000-2)

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Nonrecourse and Recourse Obligations; Waiver of Setoff; Obligations Absolute. (a) Notwithstanding any provision in any other Section of this Agreement to the contrary, but subject to Section 2.09(b) below, the obligation to repay the Repayment Amount shall be without recourse to the Trust Depositor, CFUSA, in its individual capacity and as the Servicer, any Person acting on behalf of either the Trust Depositor or the Servicer, the Trust, the Delaware Trustee, the Owner Trustee, the Indenture Trustee, any Noteholder, any Equity Certificateholder or any affiliate, officer or director of any of them, and the obligation to pay the Repayment Amount shall be limited solely to the application of Investment Earnings, Available Funds, Cash Collateral Account Surplus, and other amounts payable in respect thereof required to be distributed to the Lenders, as described in Section 2.02 hereof, and in the Indenture, and all other amounts on deposit or to be deposited from time to time in the Cash Collateral Account to the extent that such amounts are available for distribution to the Lenders.

Appears in 1 contract

Samples: Loan Agreement (Cit Equipment Collateral 2001-1)

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