Restrictions on Power. (a) Owner Trustee shall not be required to take or refrain from taking any action if such action or inaction would be contrary to any obligation of the Trust or Owner Trustee (as such or in its individual capacity) under any of the Transaction Documents or would be contrary to Section 2.3. (b) Owner Trustee shall have no power to create, assume or incur indebtedness or other liabilities in the name of the Trust other than as contemplated by the Transaction Documents.
Appears in 2 contracts
Samples: Trust Agreement (Dc Funding International Inc), Trust Agreement (Fnanb Credit Card Master Trust)
Restrictions on Power. (a) Owner Trustee shall not be required to take or refrain from taking any action if such action or inaction would be contrary to any obligation of the Trust or Owner Trustee (as such or in its individual capacity) under any of the Transaction Documents or would be contrary to Section SECTION 2.3.
(b) Owner Trustee shall have no power to create, assume or incur indebtedness or other liabilities in the name of the Trust other than as contemplated by the Transaction Documents.
Appears in 2 contracts
Samples: Trust Agreement (World Financial Network Credit Card Master Trust), Trust Agreement (World Financial Network Credit Card Master Trust)
