Organizational Expenses; Liabilities of the Holders. (a) The Servicer shall pay organizational expenses of the Issuer as they may arise. (b) No Certificateholder (including the Seller if the Seller becomes a Certificateholder) shall have any personal liability for any liability or obligation of the Issuer.
Appears in 105 contracts
Samples: Trust Agreement (Santander Drive Auto Receivables LLC), Trust Agreement (Drive Auto Receivables Trust 2021-3), Trust Agreement (Drive Auto Receivables Trust 2021-3)
Organizational Expenses; Liabilities of the Holders. (a) The Servicer shall pay organizational expenses of the Issuer as they may arise.
(b) No Certificateholder (including the Seller Depositor if the Seller Depositor becomes a Certificateholder) shall have any personal liability for any liability or obligation of the Issuer.
Appears in 65 contracts
Samples: Trust Agreement (Capital One Prime Auto Receivables Trust 2024-1), Trust Agreement (Bridgecrest Lending Auto Securitization Trust 2024-3), Trust Agreement (Bridgecrest Lending Auto Securitization Trust 2024-3)
Organizational Expenses; Liabilities of the Holders. (a) The Servicer shall pay organizational expenses of the Issuer as they may arise.
(b) No Certificateholder (including the Seller if the Seller becomes a CertificateholderSeller) shall have any personal liability for any liability or obligation of the Issuer.
Appears in 46 contracts
Samples: Trust Agreement (Volkswagen Auto Lease/Loan Underwritten Funding, LLC), Trust Agreement (Volkswagen Auto Lease/Loan Underwritten Funding, LLC), Trust Agreement (Volkswagen Auto Lease/Loan Underwritten Funding, LLC)
Organizational Expenses; Liabilities of the Holders. (a) The Servicer Administrator shall pay organizational expenses of the Issuer Issuing Entity as they may arise.
(b) No Certificateholder Certificateholder, other than to the extent set forth in paragraph (including the Seller if the Seller becomes a Certificateholder) a), shall have any personal liability for any liability or obligation of the IssuerTrust.
Appears in 36 contracts
Samples: Trust Agreement (World Omni LT), Trust Agreement (World Omni LT), Trust Agreement (World Omni LT)
Organizational Expenses; Liabilities of the Holders. (a) The Servicer Administrator shall pay organizational expenses of the Issuer as they may arise.
(b) No Certificateholder (including the Seller if the Seller becomes a CertificateholderTransferor) shall have any personal liability for any liability or obligation of the Issuer.
Appears in 32 contracts
Samples: Trust Agreement (Volkswagen Auto Lease/Loan Underwritten Funding, LLC), Trust Agreement (Volkswagen Auto Lease/Loan Underwritten Funding, LLC), Trust Agreement (Vw Credit Leasing LTD)
Organizational Expenses; Liabilities of the Holders. (a) The Servicer shall pay organizational expenses of the Issuer as they may arise.
(b) No Certificateholder Residual Interestholder (including the Seller if the Seller becomes a CertificateholderResidual Interestholder) shall have any personal liability for any liability or obligation of the Issuer.
Appears in 32 contracts
Samples: Trust Agreement (Santander Drive Auto Receivables LLC), Trust Agreement (Santander Drive Auto Receivables LLC), Trust Agreement (Santander Drive Auto Receivables Trust 2013-2)
Organizational Expenses; Liabilities of the Holders. (a) The Servicer shall pay organizational expenses of the Issuer as they may arise.
(b) No Certificateholder Residual Interestholder (including the Seller if the Seller becomes a CertificateholderSeller) shall have any personal liability for any liability or obligation of the Issuer.
Appears in 23 contracts
Samples: Trust Agreement (Capital One Auto Receivables LLC), Trust Agreement (Capital One Auto Finance Trust 2005-A), Trust Agreement (Capital One Prime Auto Receivables Trust 2007-1)
Organizational Expenses; Liabilities of the Holders. (a) The Servicer shall pay organizational expenses of the Issuer as they may arise.
(b) No Certificateholder (including the Seller if the Seller becomes a CertificateholderDepositor) shall have any personal liability for any liability or obligation of the Issuer.
Appears in 21 contracts
Samples: Trust Agreement (Fifth Third Auto Trust 2023-1), Trust Agreement (Fifth Third Auto Trust 2023-1), Trust Agreement (Fifth Third Holdings Funding, LLC)
Organizational Expenses; Liabilities of the Holders. (a) The Servicer Depositor shall pay organizational expenses of the Issuer as they may arise.
(b) No Certificateholder (including the Seller if the Seller becomes a CertificateholderDepositor) shall have any personal liability for any liability or obligation of the Issuer.
Appears in 16 contracts
Samples: Trust Agreement (Usaa Acceptance LLC), Trust Agreement (Usaa Acceptance LLC), Trust Agreement (Usaa Acceptance LLC)
Organizational Expenses; Liabilities of the Holders. (a) The Servicer shall pay the organizational expenses of the Issuer as they may arise.
(b) No Certificateholder (including the Seller Depositor if the Seller Depositor becomes a Certificateholder) shall have any personal liability for any liability or obligation of the Issuer.
Appears in 7 contracts
Samples: Trust Agreement (Bridgecrest Lending Auto Securitization Trust 2024-4), Trust Agreement (Bridgecrest Lending Auto Securitization Trust 2024-4), Trust Agreement (Santander Drive Auto Receivables Trust 2024-5)
Organizational Expenses; Liabilities of the Holders. (a) The Servicer Depositor shall pay organizational expenses of the Issuer as they may arise.
(b) No Certificateholder (including the Seller Depositor, if the Seller Depositor is or becomes a Certificateholder) shall have any personal liability for any liability or obligation of the Issuer.
Appears in 6 contracts
Samples: Trust Agreement (Bank of America Auto Receivables Securitization, LLC), Trust Agreement (Bank of America Auto Trust 2012-1), Trust Agreement (Bank of America Auto Trust 2012-1)
Organizational Expenses; Liabilities of the Holders. (a) The Servicer shall pay organizational expenses of the Issuer as they may arise.
(b) No Certificateholder Residual Interestholder (including the Seller if the Seller becomes a CertificateholderResidual Interestholder) shall have any personal liability for any liability or obligation of the Issuer.. 3 Amended and Restated
Appears in 4 contracts
Samples: Trust Agreement (Santander Drive Auto Receivables Trust 2013-3), Trust Agreement (Santander Drive Auto Receivables Trust 2013-3), Trust Agreement (Santander Drive Auto Receivables Trust 2012-5)
Organizational Expenses; Liabilities of the Holders. (a) The Pursuant to the Sale and Servicing Agreement, the Servicer shall pay organizational expenses of the Issuer as they may arise.
(b) No Certificateholder Residual Interestholder (including the Seller if the Seller becomes a CertificateholderSeller) shall have any personal liability for any liability or obligation of the Issuer.
Appears in 3 contracts
Samples: Trust Agreement (Santander Drive Auto Receivables Trust 2007-2), Trust Agreement (Santander Drive Auto Receivables Trust 2007-1), Trust Agreement (Santander Drive Auto Receivables Trust 2007-3)
Organizational Expenses; Liabilities of the Holders. β
(a) The Servicer [Depositor] shall pay organizational expenses of the Issuer as they may arise.
(b) No Certificateholder (including the Seller Depositor if the Seller Depositor is or becomes a Certificateholder) shall have any personal liability for any liability or obligation of the Issuer.
Appears in 2 contracts
Samples: Trust Agreement, Trust Agreement
Organizational Expenses; Liabilities of the Holders. (a) The Servicer shall pay organizational expenses of the Issuer as they may arise.
(b) No Certificateholder (including the Seller if the Seller becomes a CertificateholderSeller) shall have any personal liability for any liability or obligation of the Issuer.. 3 Amended & Restated Trust Agreement
Appears in 2 contracts
Samples: Trust Agreement (Volkswagen Auto Loan Enhanced Trust 2013-2), Trust Agreement (Volkswagen Auto Loan Enhanced Trust 2013-2)
Organizational Expenses; Liabilities of the Holders. (a) The Servicer shall pay organizational expenses of the Issuer as they may arise.
(b) No Certificateholder Residual Interestholder (including the Seller if the Seller becomes a CertificateholderDepositor) shall have any personal liability for any liability or obligation of the Issuer.
Appears in 1 contract
Organizational Expenses; Liabilities of the Holders. (a) The Servicer shall pay organizational organizational, start-up and transactional expenses of the Issuer as they may arise.
(b) No Certificateholder (including the Seller if the Seller becomes a CertificateholderDepositor) shall have any personal liability for any liability or obligation of the Issuer.
Appears in 1 contract
Organizational Expenses; Liabilities of the Holders. (a) The Servicer Depositor shall pay organizational expenses of the Issuer as they may arise.may
(b) No Certificateholder (including None of the Seller if the Seller becomes a Certificateholder) Persons party hereto shall have any personal liability for any liability or obligation of the Issuer.
Appears in 1 contract
Samples: Trust Agreement
Organizational Expenses; Liabilities of the Holders. (a) The Servicer Seller shall pay organizational expenses of the Issuer as they may arise.
(b) No Certificateholder Residual Interestholder (including the Seller Seller, if the Seller is or becomes a CertificateholderResidual Interestholder) shall have any personal liability for any liability or obligation of the Issuer.
Appears in 1 contract
Samples: Trust Agreement (Banc of America Securities Auto Trust 2006-G1)
