Permissive Rights. No permissive right of the Indenture Trustee in this Indenture or any other Transaction Document will be considered to be an obligation, and the Indenture Trustee will not be liable for not taking action under any permissive right.
Appears in 81 contracts
Samples: Indenture (Ford Credit Auto Receivables Two LLC), Indenture (Ford Credit Auto Owner Trust 2024-C), Indenture (Ford Credit Auto Owner Trust 2024-C)
Permissive Rights. No permissive right of the Indenture Trustee in this Indenture or any other Transaction Document will be considered to be an obligationa duty, and the Indenture Trustee will not be liable for not taking action under any permissive right.
Appears in 4 contracts
Samples: Indenture (Ford Credit Auto Owner Trust 2016-B), Indenture (Ford Credit Auto Owner Trust 2016-B), Indenture (Ford Credit Auto Lease Two LLC)
