Common use of Payments from Trust Estate Clause in Contracts

Payments from Trust Estate. All payments to be made by the Owner Trustee on behalf of the Issuer under this Agreement or any of the other Transaction Documents to which the Issuer or the Owner Trustee is a party shall be made only from the corpus, income and proceeds of the Trust Estate and only to the extent that the Owner Trustee shall have received corpus, income or proceeds from the Trust Estate to make such payments in accordance with the terms hereof. U.S. Bank Trust National Association, or any successor thereto, in its individual capacity, shall not be liable for any amounts payable under this Agreement or any of the other Transaction Documents to which the Issuer or the Owner Trustee is a party.

Appears in 3 contracts

Samples: Trust Agreement (Santander Drive Auto Receivables Trust 2007-3), Trust Agreement (Santander Drive Auto Receivables Trust 2007-2), Trust Agreement (Santander Drive Auto Receivables Trust 2007-1)

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Payments from Trust Estate. All payments to be made by the Owner Trustee on behalf of the Issuer under this Agreement or any of the other Transaction Documents to which the Issuer or the Owner Trustee is a party shall be made only from the corpus, income and proceeds of the Trust Estate and only to the extent that the Owner Trustee shall have received corpus, income or proceeds from the Trust Estate to make such payments in accordance with the terms hereof. U.S. Bank Trust National Association[ ], or any successor thereto, in its individual capacity, shall not be liable for any amounts payable under this Agreement or any of the other Transaction Documents to which the Issuer or the Owner Trustee is a party.

Appears in 1 contract

Samples: Trust Agreement (Santander Drive Auto Receivables LLC)

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Payments from Trust Estate. All payments to be made by the Owner Trustee on behalf of the Issuer under this Agreement or any of the other Transaction Documents to which the Issuer or the Owner Trustee is a party shall be made only from the corpus, income and proceeds of the Trust Estate and only to the extent that the Owner Trustee shall have received corpus, income or proceeds from the Trust Estate to make such payments in accordance with the terms hereof. U.S. Bank Trust National Association[___], or any successor thereto, in its individual capacity, shall not be liable for any amounts payable under this Agreement or any of the other Transaction Documents to which the Issuer or the Owner Trustee is a party.

Appears in 1 contract

Samples: Trust Agreement (Drive Auto Receivables LLC)

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