Common use of Payments from Trust Estate Only Clause in Contracts

Payments from Trust Estate Only. All payments to be made by the ------------------------------- Managing Trustee under this Trust Agreement shall be made only from the assets of or income and proceeds from the Trust Estate and only to the extent that the Owner Trust shall have received income or proceeds from the Trust Estate to make such payments in accordance with the terms hereof, except as specifically provided herein. The Owner Participant agrees that it will look solely to the assets of or the income and proceeds from the Trust Estate to the extent available for payment as herein provided and that, except as expressly provided herein, neither the Trust Company nor Resident Trustee shall be liable for any amounts payable under this Trust Agreement or subject to any liability under this Trust Agreement, and the Trust shall not incur any indebtedness except as contemplated by the Operative Documents and the U.K.

Appears in 2 contracts

Samples: Declaration and Agreement (Mobil Corp), Declaration and Agreement (Mobil Corp)

AutoNDA by SimpleDocs

Payments from Trust Estate Only. All payments to be made by ------------------------------- the ------------------------------- Managing Owner Trustee under this Trust Agreement shall be made only from the assets of or income and proceeds from the Trust Estate and only to the extent that the Owner Trust Trustee shall have received income or proceeds from the Trust Estate to make such payments in accordance with the terms hereof, except as specifically provided herein. The Owner Participant agrees that it will look solely to the assets of or the income and proceeds from the Trust Estate to the extent available for payment as herein provided and that, except as expressly provided hereinherein or in any other Owner Trustee Document, neither the Trust Company nor Resident Trustee shall not be liable for any amounts payable under this Trust Agreement or and shall not be subject to any liability under this Trust Agreement, and the Trust shall not incur any indebtedness except as contemplated by the Operative Documents and the U.K..

Appears in 2 contracts

Samples: Trust Agreement (Mobil Corp), Trust Agreement (Mobil Corp)

AutoNDA by SimpleDocs
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!