Common use of Not Responsible for Recitals or Issuance of Certificates Clause in Contracts

Not Responsible for Recitals or Issuance of Certificates. (a) The recitals contained in this Agreement and in the Certificates, except the certificates of authentication on the Certificates, shall be taken as the statements of the Transferor, and the Trustee assumes no responsibility for their correctness. The Trustee makes no representations as to the validity or condition of the Trust Estate or any part thereof, or as to the title of the Transferor thereto or as to the security afforded thereby or hereby, or as to the validity or genuineness of any securities at any time pledged and deposited with the Trustee hereunder or as to the validity or sufficiency of this Agreement or any of the Certificates. The Trustee shall not be accountable for the use or application by the Transferor of any of the Certificates or the proceeds thereof or of any money paid to the Transferor or upon Transferor Order under any provisions hereof. (b) Except as otherwise expressly provided herein and in Section 7.15 and without limiting the generality of the foregoing, the Trustee shall have no responsibility or liability for or with respect to the validity of any Equipment or Lease Contract, the perfection of any security interest (whether as of the date hereof or at any future time), the maintenance of or the taking of any action to maintain such perfection, the validity of the assignment of any portion of the Trust Estate to the Trustee or of any intervening assignment, the review of any Lease Contract (it being understood that the Trustee has not reviewed and does not intend to review the substance or form of any such Lease Contract), the performance or enforcement of any Lease Contract, the validity and sufficiency of the Certificate Insurance Policies, the compliance by the Transferor or the Servicer with any covenant or the breach by the Transferor or the Servicer of any warranty or representation made hereunder or in any related document or the accuracy of any such warranty or representation, any investment of monies in the Collection Account or any loss resulting therefrom, the acts or omissions of the Transferor, the Servicer, MBIA or any Customer, any action of the Servicer taken in the name of the Trustee, or the validity of the Servicing Agreement or the Lease Acquisition Agreement. (c) Except as otherwise expressly provided herein, the Trustee shall not have any obligation or liability under any Lease Contract by reason of or arising out of this Agreement or the assignment of such Lease Contract hereunder or the receipt by the Trustee of any payment relating to any Lease Contract pursuant hereto, nor shall the Trustee be required or obligated in any manner to perform or fulfill any of the obligations of the Transferor under or pursuant to any Lease Contract, or to make any payment, or to make any inquiry as to the nature or the sufficiency of any payment received by it, or the sufficiency of any performance by any party, under any Lease Contract.

Not Responsible for Recitals or Issuance of Certificates. (a) The recitals contained in this Agreement and in the Certificates, except the certificates of authentication on the Certificates, shall be taken as the statements of the Transferor, and the Trustee assumes no responsibility for their correctness. The Trustee makes no representations as to the validity or condition of the Trust Estate Property or any part thereof, or as to the title of the Transferor thereto or as to the security afforded thereby or hereby, or as to the validity or genuineness of any securities at any time pledged and deposited with the Trustee hereunder or as to the validity or sufficiency of this Agreement or any of the Certificates. The Trustee shall not be accountable for the use or application by the Transferor of any of the Certificates or the proceeds thereof or of any money paid to the Transferor or upon Transferor Order under any provisions hereof. (b) Except as otherwise expressly provided herein and in Section 7.15 and without limiting the generality of the foregoing, the Trustee shall have no responsibility or liability for or with respect to the existence or validity of any Equipment or Lease Contract, the perfection of any security interest (whether as of the date hereof or at any future time), the maintenance of or the taking of any action to maintain such perfection, the validity of the assignment of any portion of the Trust Estate Property to the Trustee or of any intervening assignment, the review of any Lease Contract (it being understood that the Trustee has not reviewed and does not intend to review the substance or form of any such Lease Contract), the performance or enforcement of any Lease Contract, the validity and or sufficiency of the Certificate Insurance PoliciesPolicy, the compliance by the Transferor or the Servicer with any covenant or the breach by the Transferor or the Servicer of any warranty or representation made hereunder or in any related document or the accuracy of any such warranty or representation, any investment of monies in the Collection Account or any loss resulting therefromtherefrom (other than in its individual capacity as obligor on any Eligible Investment), the acts or omissions of the Transferor, the Servicer, MBIA the Bond Insurer or any Customer, any action of the Servicer Servicer, taken in the name of the Trustee, or the validity of the Servicing Agreement or the Lease Acquisition Contribution Agreement. (c) Except as otherwise expressly provided herein, the Trustee shall not have any obligation or liability under any Lease Contract by reason of or arising out of this Agreement or the assignment of such Lease Contract hereunder or the receipt by the Trustee of any payment relating to any Lease Contract pursuant hereto, nor shall the Trustee be required or obligated in any manner to perform or fulfill any of the obligations of the Transferor under or pursuant to any Lease Contract, or to make any payment, or to make any inquiry as to the nature or the sufficiency of any payment received by it, or the sufficiency of any performance by any party, under any Lease Contract.

Not Responsible for Recitals or Issuance of Certificates. (a) The recitals contained in this Agreement and in the Certificates, except the certificates of authentication on the Certificates, shall be taken as the statements of the TransferorDepositor, and the Trustee assumes no responsibility for their correctness. The Trustee makes no representations as to the validity or condition of the Trust Estate or any part thereof, or as to the title of the Transferor thereto Depositor thereto, or as to the security afforded thereby or hereby, or as to the validity or genuineness of any securities at any time pledged and deposited with the Trustee hereunder or as to the validity or sufficiency of this Agreement as against any other party or any of the Certificates. The Trustee shall not be accountable for the use or application by the Transferor Depositor of any of the Certificates or the proceeds thereof or of any money paid to the Transferor Depositor or upon Transferor Depositor Order under any provisions hereof. (b) Except as otherwise expressly provided herein and in Section 7.15 and without limiting the generality of the foregoing, the Trustee shall have no responsibility or liability for or with respect to the validity of any Equipment Loan Collateral or Lease ContractLoan, the perfection of any security interest (whether as of the date hereof or at any future time), the maintenance of or the taking of any action to maintain such perfection, the validity of the assignment of any portion of the Trust Estate to the Trustee or of any intervening assignment, the review of any Lease Contract Loan (it being understood that the Trustee has not reviewed and does not intend to review the substance or form of any such Lease ContractLoan), the performance or enforcement of any Lease Contract, the validity and sufficiency of the Certificate Insurance PoliciesLoan, the compliance by the Transferor Depositor or the Servicer with any covenant or the breach by the Transferor Depositor or the Servicer of any warranty or representation made hereunder or in any related document or the accuracy of any such warranty or representation, any investment of monies in the Collection Account or any loss resulting therefrom, the acts or omissions of the TransferorDepositor, the Servicer, MBIA or any CustomerObligor, any action of the Servicer taken in the name of the Trustee, or the validity as against any other party of the Servicing Agreement or the Lease Loan Acquisition Agreement. (c) Except as otherwise expressly provided herein, the Trustee shall not have any obligation or liability under any Lease Contract Loan by reason of or arising out of this Agreement or the assignment of such Lease Contract Loan hereunder or the receipt by the Trustee of any payment relating to any Lease Contract Loan pursuant hereto, nor shall the Trustee be required or obligated in any manner to perform or fulfill any of the obligations of the Transferor Depositor under or pursuant to any Lease ContractLoan, or to make any payment, or to make any inquiry as to the nature or the sufficiency of any payment received by it, or the sufficiency of any performance by any party, under any Lease ContractLoan.

Not Responsible for Recitals or Issuance of Certificates. (a) The recitals contained in this Agreement and in the Certificates, except the certificates of authentication on the Certificates, shall be taken as the statements of the Transferor, and the Trustee assumes no responsibility for their correctness. The Trustee makes no representations as to the validity or condition of the Trust Estate or any part thereof, or as to the title of the Transferor thereto or as to the security afforded thereby or hereby, or as to the validity or genuineness of any securities at any time pledged and deposited with the Trustee hereunder or as to the validity or sufficiency of this Agreement or any of the Certificates. The Trustee shall not be accountable for the use or application by the Transferor of any of the Certificates or the proceeds thereof or of any money paid to the Transferor or upon Transferor Order under any provisions hereof. (b) Except as otherwise expressly provided herein and in Section 7.15 and without limiting the generality of the foregoing, the Trustee shall have no responsibility or liability for or with respect to the validity of any Equipment or Lease Contract, the perfection of any security interest (whether as of the date hereof or at any future time), the maintenance of or the taking of any action to maintain such perfection, the validity of the assignment of any portion of the Trust Estate to the Trustee or of any intervening assignment, the review of any Lease Contract (it being understood that the Trustee has not reviewed and does not intend to review the substance or form of any such Lease Contract), the performance or enforcement of any Lease Contract, the validity and sufficiency of the Certificate Insurance PoliciesPolicy, the compliance by the Transferor or the Servicer with any covenant or the breach by the Transferor or the Servicer of any warranty or representation made hereunder or in any related document or the accuracy of any such warranty or representation, any investment of monies in the Collection Account or any loss resulting therefrom, the acts or omissions of the Transferor, the Servicer, MBIA or any Customer, any action of the Servicer taken in the name of the Trustee, or the validity of the Servicing Agreement or the Lease Acquisition Agreement. (c) Except as otherwise expressly provided herein, the Trustee shall not have any obligation or liability under any Lease Contract by reason of or arising out of this Agreement or the assignment of such Lease Contract hereunder or the receipt by the Trustee of any payment relating to any Lease Contract pursuant hereto, nor shall the Trustee be required or obligated in any manner to perform or fulfill any of the obligations of the Transferor under or pursuant to any Lease Contract, or to make any payment, or to make any inquiry as to the nature or the sufficiency of any payment received by it, or the sufficiency of any performance by any party, under any Lease Contract.