Obligor Claims. In connection with any offset defenses, or affirmative claims for recovery, asserted in legal actions brought by Obligors under one or more Contracts based upon provisions therein complying with, or upon other rights or remedies arising from, any legal requirements applicable to the Contracts, including, without limitation, the Federal Trade Commission's Trade Regulation Rule Concerning Preservation of Consumers' Claims and Defenses (16 C.F.R. (S) 433) as amended from time to time:
a. The Trustee is not, and shall not be deemed to be, either in any individual capacity, as trustee hereunder or otherwise, a creditor, or a joint venturer with or an Affiliate of, or acting in concert or cooperation with, any seller of home improvements, in the arrangement, origination or making of Contracts. The Trustee is the holder of the Contracts only as trustee on behalf of the Certificateholders and Class C Certificateholders, and not as a principal or in any individual or personal capacity;
b. The Trustee shall not be personally liable for or obligated to pay Obligors any affirmative claims asserted thereby, or responsible to Certificateholders or Class C Certificateholders for any offset defense amounts applied against Contract payments, pursuant to such legal actions;
c. The Trustee will pay, solely from available Trust monies, affirmative claims for recovery by Obligors only pursuant to final judicial orders or judgments, or judicially approved settlement agreements, resulting from such legal actions;
d. The Trustee will comply with judicial orders and judgments which require its actions or cooperation in connection with Obligors' legal actions to recover affirmative claims against Certificateholders and Class C Certificateholders.
e. The Trustee will cooperate with and assist Certificateholders and Class C Certificateholders in their defense of legal actions by Obligors to recover affirmative claims if such cooperation and assistance is not contrary to the interests of the Trustee as a party to such legal actions and if the Trustee is satisfactorily indemnified for all liability, costs and expenses arising therefrom; and
f. The Company hereby agrees to indemnify, hold harmless and defend the Trustee, Certificateholders and Class C Certificateholders from and against any and all liability, loss, costs and expenses of the Trustee, Certificateholders and Class C Certificateholders resulting from any affirmative claims for recovery asserted or collected by Obligors unde...
Obligor Claims. In connection with any offset defenses, or affirmative claims for recovery, asserted in legal actions brought by Obligors under one or more Contracts based upon provisions therein complying with, or upon other rights or remedies arising from, any legal requirements applicable to the Contracts, including, without limitation, the Federal Trade Commission's Trade Regulation Rule Concerning Preservation of Consumers' Claims and Defenses (16 C.F.R. (S) 433) as amended from time to time:
Obligor Claims. In connection with any offset defenses, or affirmative claims for recovery, asserted in legal actions brought by Obligors under one or more Contracts based upon provisions therein complying with, or upon other rights or remedies arising from, any legal requirements applicable to the Contracts, including, without limitation, the Federal Trade Commission's Trade Regulation Rule Concerning Preservation of Consumers' Claims and Defenses (16 C.F.R. Section 433) as amended from time to time:
(a) The Trustee is not, and shall not be deemed to be, either in any individual capacity, as trustee hereunder or otherwise, a creditor, or a joint venturer with or an Affiliate of, or acting in concert or cooperation with, any seller of Motorcycles, in the arrangement, origination or making of Contracts. The Trustee is the holder of the Contracts only as trustee on behalf of the Certificateholders, and not as a principal or in any individual or personal capacity;
(b) The Trustee shall not be personally liable for or obligated to pay Obligors any affirmative claims asserted thereby, or responsible to Certificateholders for any offset defense amounts applied against Contract payments pursuant to such legal actions;
(c) The Trustee will pay, solely from available Trust monies, affirmative claims for recovery by Obligors only pursuant to final judicial orders or judgments, or judicially approved settlement agreements, resulting from such legal actions; and
(d) The Servicer has agreed to indemnify, hold harmless and defend the Trustee and Certificateholders from and against any and all liability, loss, costs and expenses of the Trustee and Certificateholders resulting from any affirmative claims for recovery asserted or collected by Obligors under the Contracts. Notwithstanding any other provision of this Agreement, the obligation of the Servicer described in this Section 11.12(d) shall not terminate or be deemed released upon a Service Transfer pursuant to Article VII and shall survive termination of this Agreement.
Obligor Claims. 123 SECTION 11.12 Appointment of Co-Trustee or Separate Trustee............................................123 SECTION 11.13 Agents of Trustee........................................................................124
Obligor Claims. In connection with any offset defenses, or affirmative claims for recovery, asserted in legal actions brought by Obligors under one or more Loans based upon provisions therein complying with, or upon other rights or remedies arising from, any legal requirements applicable to the Loans, including, without limitation, the Federal Trade Commission's Trade Regulation Rule Concerning Preservation of Consumers' Claims and Defenses (16 C.F.R. ss. 433) as amended from time to time:
(i) The Trustee is not, and shall not be deemed to be, either in any individual capacity, as trustee hereunder or otherwise, a creditor, or a joint venturer with or an Affiliate of, or acting in concert or cooperation with, any home equity lender, in the arrangement, origination or making of Loans. The Trustee is the holder of the Loans only as trustee on behalf of the Certificateholders and the Class R Certificateholder, and not as a principal or in any individual or personal capacity;
(ii) The Trustee shall not be personally liable for or obligated to pay Obligors any affirmative claims asserted thereby, or responsible to Certificateholders or the Class R Certificateholder for any offset defense amounts applied against Loan payments, pursuant to such legal actions;
(iii) The Trustee will pay, solely from available Trust monies, affirmative claims for recovery by Obligors only pursuant to final judicial orders or
Obligor Claims the amount of any Obligor Claims paid in cash by or on behalf of the Originator, as notified to the Receivables Trustee, shall be transferred to the Transferor Receipts Account, whereupon such monies shall cease to be Trust Property and shall be owned by the Transferor Beneficiary absolutely (and a corresponding adjustment shall be made to the Finance Charge Collections Ledger in the Receivables Trustee Collection Account until such time as no amounts are recorded on the Finance Charge Collections Ledger and thereafter a corresponding adjustment shall be made to the Principal Collections Ledger in the Receivables Trustee Collection Account, provided that no such adjustments shall be in an amount greater than the amount of any Obligor Claims and neither the Finance Charge Collections Ledger nor the Principal Collections Ledger shall have a balance of less than zero recorded);
Obligor Claims. SECTION 11.18
Obligor Claims. 81 SECTION 11.18. Liabilities to Obligors...................................82 ARTICLE XII.
Obligor Claims. In connection with any offset defenses, or affirmative claims for recovery, asserted in legal actions brought by Obligors under one or more Receivables based upon provisions therein or upon other rights or remedies arising from any Requirements of Law applicable to the Receivables:
(a) The Trustee is the holder of the Receivables only as trustee on behalf of the holders of the Certificates, and not or in its individual or personal capacity.
(b) The Trustee shall not be personally liable for, or obligated to pay Obligors, any affirmative claims asserted thereby, or responsible to holders of the Certificates for any offset defense amounts applied against Receivable payments, pursuant to such legal actions provided, that this subsection 11.18(b) shall not be construed to relieve the Trustee of liability pursuant to Section 11.17 of this Agreement.
(c) The Trustee will pay, solely from available Trust money, affirmative claims for recovery by Obligors only pursuant to final judicial orders or judgments, or judicially-approved settlement agreements, resulting from such legal actions.
(d) The Trustee will comply with judicial orders and judgments which require its action or cooperation in connection with any Obligor's legal actions to recover affirmative claims against holders of the Investor Certificates.
(e) The Trustee will cooperate with and assist the Transferors, the Master Servicer, or holders of the Certificates in their defense of legal actions by Obligors to recover affirmative
Obligor Claims. 48 SECTION 11.13 Appointment of Co-Trustee or Separate Trustee.........................................49 SECTION 11.14 Certain Matters Relating to FHA Insurance.............................................50 SECTION 11.15 Trustee and [Trustee parent]..........................................................50 SECTION 11.16 Trustee Advances......................................................................50 Article XII MISCELLANEOUS........................................................................................50
