Common use of Obligations Performed by Administrator Clause in Contracts

Obligations Performed by Administrator. The Owner Trustee will be considered to have performed its obligations under the Transaction Documents if the Administrator is required in the Administration Agreement to perform the obligations of the Owner Trustee or the Issuer. The Owner Trustee will not be liable for the default or failure of the Administrator to perform its obligations under the Administration Agreement.

Obligations Performed by Administrator. The Owner Trustee will be considered to have performed its obligations under the Transaction Documents and the other Series Related Documents if the Administrator is required in the Administration Agreement to perform the obligations of the Owner Trustee or the IssuerTrust. The Owner Trustee will not be liable for the default or failure of the Administrator to perform its obligations under the Administration Agreement.