Common use of Reliance by Others Clause in Contracts

Reliance by Others. The Depositor will act solely in its name and through its duly authorized officers or agents in the conduct of its businesses. The Depositor will not: (a) hold itself out as having agreed to pay or become liable for the debts of its stockholder; (b) fail to correct any known misrepresentation with respect to the foregoing; (c) operate or purport to operate as an integrated, single economic unit with respect to its stockholder or in its dealings with any other affiliated or unaffiliated entity; (d) seek or obtain credit or incur any obligation to any third party based upon the assets of its stockholder or any other affiliated or unaffiliated entity; or (e) induce any such third party to reasonably rely on the creditworthiness of its stockholder or any other affiliated or unaffiliated entity for the payment or performance of the Depositor.

Appears in 10 contracts

Samples: Trust Agreement (SLM Funding Corp), Trust Agreement (SLM Funding Corp), Trust Agreement (SLM Funding Corp)

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Reliance by Others. The Depositor will act solely in its name and through ------------------ its duly authorized officers or agents in the conduct of its businesses. The Depositor will not: (a) hold itself out as having agreed to pay or become liable for the debts of its stockholder; (b) fail to correct any known misrepresentation with respect to the foregoing; (c) operate or purport to operate as an integrated, single economic unit with respect to its stockholder or in its dealings with any other affiliated or unaffiliated entity; (d) seek or obtain credit or incur any obligation to any third party based upon the assets of its stockholder or any other affiliated or unaffiliated entity; or (e) induce any such third party to reasonably rely on the creditworthiness of its stockholder or any other affiliated or unaffiliated entity for the payment or performance of the Depositor.

Appears in 2 contracts

Samples: Trust Agreement (SLM Funding Corp), Trust Agreement (SLM Funding Corp)

Reliance by Others. The Depositor will act solely in its name and through its ------------------ duly authorized officers or agents in the conduct of its businesses. The Depositor will not: (a) hold itself out as having agreed to pay or become liable for the debts of its stockholder; (b) fail to correct any known misrepresentation with respect to the foregoing; (c) operate or purport to operate as an integrated, single economic unit with respect to its stockholder or in its dealings with any other affiliated or unaffiliated entity; (d) seek or obtain credit or incur any obligation to any third party based upon the assets of its stockholder or any other affiliated or unaffiliated entity; or (e) induce any such third party to reasonably rely on the creditworthiness of its stockholder or any other affiliated or unaffiliated entity for the payment or performance of the Depositor.

Appears in 1 contract

Samples: Trust Agreement (SLM Funding Corp)

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Reliance by Others. The Depositor will act solely in its name and ------------------ through its duly authorized officers or agents in the conduct of its businesses. The Depositor will not: (a) hold itself out as having agreed to pay or become liable for the debts of its stockholder; (b) fail to correct any known misrepresentation with respect to the foregoing; (c) operate or purport to operate as an integrated, single economic unit with respect to its stockholder or in its dealings with any other affiliated or unaffiliated entity; (d) seek or obtain credit or incur any obligation to any third party based upon the assets of its stockholder or any other affiliated or unaffiliated entity; or (e) induce any such third party to reasonably rely on the creditworthiness of its stockholder or any other affiliated or unaffiliated entity for the payment or performance of the Depositor.

Appears in 1 contract

Samples: Trust Agreement (SLM Funding Corp)

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