Common use of Owner Trustee Not Liable for Certificate, Notes or Financed Student Loans Clause in Contracts

Owner Trustee Not Liable for Certificate, Notes or Financed Student Loans. The recitals contained herein and in each Certificate (other than the signature of the Co-Owner Trustee, as Authentication Agent, on each Certificate) shall be taken as the statements of the Depositor, and neither the Owner Trustee, the Co-Owner Trustee nor the Trust Eligible Lender Trustee assumes any responsibility for the correctness thereof. Neither the Owner Trustee, the Co-Owner Trustee nor the Trust Eligible Lender Trustee makes any representations as to the validity or sufficiency of this Agreement, of any Basic Document or of the Certificate (other than representations of the Co-Owner Trustee, as Authentication Agent, regarding its signature on the certificate of authentication on the Certificate) or the Notes, or of any Financed Student Loan or related documents. Neither the Owner Trustee, the Co-Owner Trustee nor the Trust Eligible Lender Trustee shall at any time have any responsibility or liability for or with respect to the legality, validity and enforceability of any Financed Student Loan, or the perfection and priority of any security interest created under the Indenture in any Financed Student Loan or the maintenance of any such perfection and priority of any such security interest or the maintenance of any such perfection and priority, or for or with respect to the sufficiency of the Trust Property or its ability to generate the payments to be distributed to the Certificateholder under this Agreement or the Noteholders under the Indenture, including, without limitation: the existence, status and ownership of any Financed Student Loan; the existence and enforceability of any insurance or guarantee thereon; the existence and status of any Financed Student Loan on any computer or other record thereof; the validity of the sale or assignment of any Financed Student Loan originated under the Act to the Trust Eligible Lender Trustee or of any intervening sale or assignment; the validity or sufficiency of any Guarantee; the completeness of any Financed Student Loan; the performance or enforcement of any Financed Student Loan; the compliance by the Administrator or the Master Servicer with any warranty or representation made under any Basic Document or in any other related document or the accuracy of any such warranty or representation or any action of the Indenture Trustee, the Administrator or the Master Servicer taken in the name of the Trust, the Owner Trustee, the Co-Owner Trustee or the Trust Eligible Lender Trustee.

Owner Trustee Not Liable for Certificate, Notes or Financed Student Loans. The recitals contained herein and in each Certificate (other than the signature of the Co-Owner Trustee, as Authentication Agent, on each Certificate) shall be taken as the statements of the Depositor, and neither the Owner Trustee, the Co-Owner Trustee nor the Trust Eligible Lender Trustee assumes any responsibility for the correctness thereof. Neither the Owner Trustee, the Co-Owner Trustee nor the Trust Eligible Lender Trustee makes any representations as to the validity or sufficiency of this Agreement, of any Basic Document or of the Certificate (other than representations of the Co-Owner Trustee, as Authentication Agent, regarding its signature on the certificate of authentication on the Certificate) or the Notes, or of any Financed Student Loan or related documents. Neither the Owner Trustee, the Co-Owner Trustee nor the Trust Eligible Lender Trustee shall at any time have any responsibility or liability for or with respect to the legality, validity and enforceability of any Financed Student Loan, or the perfection and priority of any security interest created under the Indenture in any Financed Student Loan or the maintenance of any such perfection and priority of any such security interest or the maintenance of any such perfection and priority, or for or with respect to the sufficiency of the Trust Property or its ability to generate the payments to be distributed to the Certificateholder under this Agreement or the Noteholders under the Indenture, including, without limitation: the existence, status and ownership of any Financed Student Loan; the existence and enforceability of any insurance or guarantee thereon; the existence and status of any Financed Student Loan on any computer or other record thereof; the validity of the sale or assignment of any Financed Student Loan originated under the Act to the Trust Eligible Lender Trustee or of any intervening sale or assignment; the validity or sufficiency of any Guarantee; the completeness of any Financed Student Loan; the performance or enforcement of any Financed Student Loan; the compliance by the Administrator or the Master Servicer with any warranty or representation made under any Basic Document or in any other related document or the accuracy of any such warranty or representation or any action of the Indenture Trustee, the Administrator or the Master Servicer taken in the name of the Trust, the Owner Trustee, the Co-Owner Trustee or the Trust Eligible Lender Trustee.

Owner Trustee Not Liable for Certificate, Notes or Financed Student Loans. The recitals contained herein and in each Certificate (other than the signature of the Co-Owner Trustee, as Authentication Agent, on each Certificate) shall be taken as the statements of the Depositor, and neither the Owner Trustee, the Co-Owner Trustee nor the Trust Eligible Lender Trustee assumes any responsibility for the correctness thereof. Neither the Owner Trustee, the Co-Owner Trustee nor the Trust Eligible Lender Trustee makes any representations as to the validity or sufficiency of this Agreement, of any Basic Document or of the Certificate (other than representations of the Co-Owner Trustee, as Authentication Agent, regarding its signature on the certificate of authentication on the Certificate) or the Notes, or of any Financed Student Loan or related documents. Neither the Owner Trustee, the Co-Owner Trustee nor the Trust Eligible Lender Trustee shall at any time have any responsibility or liability for or with respect to the legality, validity and enforceability of any Financed Student Loan, or the perfection and priority of any security interest created under the Indenture in any Financed Student Loan or the maintenance of any such perfection and priority of any such security interest or the maintenance of any such perfection and priority, or for or with respect to the sufficiency of the Trust Property or its ability to generate the payments to be distributed to the Certificateholder under this Agreement or the Noteholders under the Indenture, including, without limitation: the existence, status and ownership of any Financed Student Loan; the existence and enforceability of any insurance or guarantee thereon; the existence and status of any Financed Student Loan on any computer or other record thereof; the validity of the sale or assignment of any Financed Student Loan originated under the Act to the Trust Eligible Lender Trustee or of any intervening sale or assignment; the validity or sufficiency of any Guarantee; the completeness of any Financed Student Loan; the performance or enforcement of any Financed Student Loan; the compliance by the Administrator or the Master Servicer with any warranty or representation made under any Basic Document or in any other related document or the accuracy of any such warranty or representation or any action of the Indenture Trustee, the Administrator or the Master Servicer taken in the name of the Trust, the Owner Trustee, the Co-Owner Trustee or the Trust Eligible Lender Trustee.

Owner Trustee Not Liable for Certificate, Notes or Financed Student Loans. The recitals contained herein and in each Certificate (other than the signature of the Co-Owner Trustee, as Authentication Agent, on each Certificate) shall be taken as the statements of the Depositor, and neither the Owner Trustee, the Co-Owner Trustee nor the Trust Eligible Lender Trustee assumes any responsibility for the correctness thereof. Neither the Owner Trustee, the Co-Owner Trustee nor the Trust Eligible Lender Trustee makes any representations as to the validity or sufficiency of this Agreement, of any Basic Document or of the Certificate (other than Trust Agreement representations of the Co-Owner Trustee, as Authentication Agent, regarding its signature on the certificate of authentication on the Certificate) or the Notes, or of any Financed Student Loan or related documents. Neither the Owner Trustee, the Co-Owner Trustee nor the Trust Eligible Lender Trustee shall at any time have any responsibility or liability for or with respect to the legality, validity and enforceability of any Financed Student Loan, or the perfection and priority of any security interest created under the Indenture in any Financed Student Loan or the maintenance of any such perfection and priority of any such security interest or the maintenance of any such perfection and priority, or for or with respect to the sufficiency of the Trust Property or its ability to generate the payments to be distributed to the Certificateholder under this Agreement or the Noteholders under the Indenture, including, without limitation: the existence, status and ownership of any Financed Student Loan; the existence and enforceability of any insurance or guarantee thereon; the existence and status of any Financed Student Loan on any computer or other record thereof; the validity of the sale or assignment of any Financed Student Loan originated under the Act to the Trust Eligible Lender Trustee or of any intervening sale or assignment; the validity or sufficiency of any Guarantee; the completeness of any Financed Student Loan; the performance or enforcement of any Financed Student Loan; the compliance by the Administrator or the Master Servicer with any warranty or representation made under any Basic Document or in any other related document or the accuracy of any such warranty or representation or any action of the Indenture Trustee, the Administrator or the Master Servicer taken in the name of the Trust, the Owner Trustee, the Co-Owner Trustee or the Trust Eligible Lender Trustee.