Common use of Securities Administrator Capacity Clause in Contracts

Securities Administrator Capacity. It is expressly understood and agreed by the parties hereto that (i) this Annex is executed and delivered by the Securities Administrator, not individually or personally but solely as securities administrator of the Trust, (ii) each of the representations, undertakings and agreements herein made on the part of the Trust is made and intended not as personal representations, undertakings and agreements by the Securities Administrator but is made and intended for the purpose of binding only the Trust, (iii) nothing herein contained shall be construed as creating any liability on the part of the Securities Administrator, individually or personally, to perform any covenant either expressed or implied contained herein, all such liability, if any, being expressly waived by the parties hereto and by any Person claiming by, through or under the parties hereto and (iv) under no circumstances shall the Securities Administrator be personally liable for the payment of any indebtedness or expenses of the Trust or be liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken by the Trust under this Annex or any other related documents as to all of which recourse shall be had solely to the assets of the Trust in accordance with the terms of the Trust Agreement; unless the Securities Administrator was grossly negligent or acted with wilful misconduct.

Securities Administrator Capacity. It is expressly understood and agreed by the parties hereto that insofar as this agreement is executed by the Securities Administrator (i) this Annex it is executed and delivered by Xxxxx Fargo Bank, N.A. in the Securities Administrator, not individually or personally but solely as securities administrator exercise of the Trustpowers and authority conferred and vested in it under and in accordance with the Transfer and Servicing Agreement, (ii) each of the representations, undertakings and agreements herein made on behalf on the part of the Separate Interest Trust is made and intended not as personal representations, undertakings and agreements by representations of the Securities Administrator but is made and intended for the purpose of binding only the Separate Interest Trust, and (iii) nothing herein contained shall be construed as creating any liability on the part of the Securities AdministratorXxxxx Fargo Bank, N.A., individually or personally, to perform any covenant either expressed or implied contained herein, all such liability, if any, being expressly waived by the parties hereto and by any Person claiming by, through or under the parties hereto and (iv) under no circumstances shall the Securities Administrator Xxxxx Fargo Bank, N.A be personally liable for the payment of any indebtedness or expenses of the Trust or be liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken by the Special Interest Trust under this Annex Agreement or any other related documents as to all of which recourse shall be had solely to the assets of the Trust in accordance with the terms of the Trust Agreement; unless the Securities Administrator was grossly negligent or acted with wilful misconductdocument.

Securities Administrator Capacity. It is expressly understood and agreed by the parties hereto that (i) this Annex Agreement is executed and delivered by the Securities Administrator, Administrator not individually in its individual or personally corporate capacity but solely as securities administrator on behalf of the Trust, in the exercise of the powers and authority conferred and vested in it under the PSA, (ii) each of the representations, undertakings and agreements herein made on the part of the Trust is made and intended not as personal representations, undertakings and agreements by the Securities Administrator but is made and intended for the purpose of binding only the Trust, (iii) nothing herein contained shall be construed as creating any liability on the part of the Securities Administrator, individually or personally, to perform any covenant either expressed or implied contained herein, all such liability, if any, being expressly waived by the parties hereto and by any Person claiming by, through or under the parties hereto and (iv) under no circumstances shall the Securities Administrator be personally liable for the payment of any indebtedness or expenses of the Trust or be liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken by the Trust under this Annex Agreement or any other related documents as to all of which recourse shall be had solely to the assets of the Trust in accordance with the terms of the Trust PSA. Notwithstanding the foregoing (or anything to the contrary in this Agreement; unless ), the Securities Administrator was grossly negligent or acted with wilful misconductshall be liable for its own fraud, negligence, willful misconduct and/or bad faith.