Common use of Owner Trustee Not Liable for Trust Assets Clause in Contracts

Owner Trustee Not Liable for Trust Assets. The Owner Trustee makes no representations as to the validity or sufficiency of the Pass Through Trust Agreement or any related documents. The Owner Trustee shall at no time have any responsibility or liability for or with respect to the legality, validity and enforceability of the Pass Through Certificate or its ability to generate the payments to be distributed to the Holders under this Agreement, including, without limitation: the existence, condition and ownership of any portion of the Trust Assets; the existence and enforceability of any insurance thereon; the existence and contents of any portion of the Trust Assets; the validity of the assignment of any portion of the Trust Assets to the Trust or of any intervening assignment; the validity of the transfer of any portion of the Trust Assets to the Trust or of any intervening transfer or assignment; the compliance by the Depositor with any warranty or representation made under this Agreement or the accuracy of any such warranty or representation, or any action of the Depositor, taken in the name of the Owner Trustee.

Owner Trustee Not Liable for Trust Assets. The recitals contained herein shall be taken as the statements of the Beneficiary, and the Owner Trustee assumes no responsibility for the correctness thereof. The Owner Trustee makes no representations as to the validity or sufficiency of the Pass Through Trust Agreement or any related documents. The Owner Trustee shall at no time have any responsibility or liability for or with respect to the legality, validity and enforceability of the Class D Certificate issued under the Pass Through Certificate Trust Agreement or its ability to generate the payments to be distributed to the Holders Beneficiary under this Agreement, including, without limitation: the existence, condition and ownership of any portion of the Trust Assets; the existence and enforceability of any insurance thereon; the existence and contents of any portion of the Trust Assets; the validity of the assignment of any portion of the Trust Assets to the Trust or of any intervening assignment; the validity of the transfer of any portion of the Trust Assets to the Trust or of any intervening transfer or assignment; the compliance by the Depositor Beneficiary with any warranty or representation made under this Agreement or the accuracy of any such warranty or representation, or any action of the DepositorBeneficiary, taken in the name of the Owner Trustee.