Series Liability Sample Clauses

Series Liability. Each party hereto acknowledges and agrees that (a) the Series 2003-A Portfolio Interest is a separate series of the Titling Trust as provided by Section 3806(b)(2) of Chapter 38 of Title 12 of the Delaware Code, 12 Del. C. Section 3801 et seq., (b) the debts, liabilities, obligations and expenses incurred, contracted for or otherwise existing with respect to the Series 2003-A Portfolio Interest shall be enforceable only against the Series 2003-A Portfolio Assets, and not against any other Portfolio Assets or the General Portfolio, (c) except to the extent required by law or specified in the Titling Trust Agreement or in this Series 2003-A Portfolio Supplement, Portfolio Assets with respect to any Portfolio Interest (other than the Series 2003-A Portfolio Interest) shall not be subject to the claims, debts, liabilities, expenses or obligations arising from or with respect to the Series 2003-A Portfolio Interest in respect of such claim, and (d) no creditor or holder of a claim relating to Titling Trust Assets allocated to the Series 2003-A Portfolio Interest shall be entitled to maintain any action against or recover any Titling Trust Assets allocated to the General Interest or any other Portfolio Interest.
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Series Liability. Each party hereto represents, warrants and covenants (and each holder or pledgee of the 1999-1B Sold SUBI, by virtue of its acceptance of such Sold SUBI or pledge thereof represents, warrants and covenants) that (a) the 1999-1B Sold SUBI is a separate series of the Origination Trust as provided in Section 3806(b)(2) of Chapter 38 of Title 12 of the Delaware Code, 12 Del. C. Section 3801, et seq., (b)(i) the debts, liabilities, obligations and expenses incurred, contracted for or otherwise existing with respect to the 1999-1B Sold SUBI or the 1999-1B Sold SUBI Portfolio shall be enforceable against the 1999-1B Sold SUBI Portfolio only, and not against any other SUBI Assets or the UTI Portfolio and (ii) the debts, liabilities, obligations and expenses incurred, contracted for or otherwise existing with respect to any other SUBI, any other SUBI Portfolio, the UTI or the UTI Portfolio shall be enforceable against such other SUBI Portfolio or the UTI Portfolio only, as applicable, and not against any other SUBI Assets, (c) except to the extent required by law or specified in the Origination Trust Agreement or in this 19991-1B Sold SUBI Supplement, UTI Assets or SUBI Assets with respect to any SUBI (other than the 1999-1B Sold SUBI) shall not be subject to the claims, debts, liabilities, expenses or obligations arising from or with respect to the 1999-1B Sold SUBI in respect of such claim, (d)(i) no creditor or holder of a claim relating to assets allocated to the 1999-1B Sold SUBI or the 1999-1B Sold SUBI Portfolio shall be entitled to maintain any action against or recover any assets allocated to the UTI or the UTI Portfolio or any other SUBI or the assets allocated thereto, and (ii) no creditor or holder of a claim relating to the UTI, the UTI Portfolio or any SUBI other than the 1999-1B Sold SUBI or any SUBI Assets other than the 1999-1B Sold SUBI Portfolio shall be entitled to maintain any action against or recover any assets allocated to the 1999-1B Sold SUBI, and (e) any purchaser, assignee or pledgee of an interest in the 1999-1B Sold SUBI, the 1999-1B Sold SUBI Certificate, any other SUBI, any other SUBI Certificate, the UTI or the UTI Certificate must, prior to or contemporaneously with the grant of any such assignment, pledge or security interest, (i) give to the Origination Trust a non-petition covenant substantially similar to that set forth in Section 6.9 of the Origination Trust Agreement, and (ii) execute an agreement for the benefit of each hold...
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Series Liability. 14 Section 14.7. No Petition: Release of Claims. . . . . . . . . . . . . .15 Schedule I - Description of 1999-1A SUBI Assets Exhibit A - Form of 1999-1A Sold SUBI Certificate Exhibit B - Form of Assignment Agreement Exhibit C - Form of Officer's Certificate SOLD SUBI SUPPLEMENT 1999-1A TO ORIGINATION TRUST AGREEMENT THIS SOLD SUBI SUPPLEMENT 1999-1A TO ORIGINATION TRUST AGREEMENT (the "1999-1A Sold SUBI Supplement") is dated and effective as of June 30, 1999, among RAVEN FUNDING LLC ("SPV" or, in its capacity as settlor, the "Settlor", or in its capacity as initial beneficiary, the "Initial Beneficiary"), PHH VEHICLE MANAGEMENT SERVICES LLC, a Delaware limited liability company ("VMS"), as UTI Trustee (in such capacity, together with any successor or permitted assign, the "UTI Trustee") and as Servicer (in such capacity, together with any successor or permitted assign, the "Servicer") and WILMINGTON TRUST COMPANY, as Delaware Trustee (in such capacity, together with any successor or permitted assign, the "Delaware Trustee"), and as trustee with respect to the 1999-1A Sold SUBI (in such capacity, together with any successor or permitted assign, the "SUBI Trustee"; together with the UTI Trustee and the Delaware Trustee, the "Origination Trustees").
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Series Liability. 10 Section 11.11 Authorization to Enter into Related Agreements...................10 EXHIBITS: EXHIBIT A Series 2002-B Portfolio Certificate......................................A-1 SERIES 2002-B PORTFOLIO SUPPLEMENT TO THE TITLING TRUST AGREEMENT SERIES 2002-B PORTFOLIO SUPPLEMENT TO THE TITLING TRUST AGREEMENT (as amended from time to time, this "Series 2002-B Portfolio Supplement"), dated as of November 19, 2002, among HARCO LEASING COMPANY, INC., a Delaware corporation, as Grantor and Initial Beneficiary ("Harco Leasing"), BANK ONE, NATIONAL ASSOCIATION, a national banking association (formerly known as First National Bank of Chicago) as General Interest Trustee (in such capacity, together with any successor or permitted assign, the "General Interest Trustee"), BANK ONE DELAWARE, INC., a Delaware corporation (formerly known as First Chicago Delaware, Inc.) (in such capacity, together with any successor or permitted assign, the "Delaware Trustee") and BANK ONE, NATIONAL ASSOCIATION, as Portfolio Trustee with respect to the Series 2002-B Portfolio Interest (in such capacity, together with any successor or permitted assign, "Series 2002-B Portfolio Trustee").
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Series Liability. Each party hereto acknowledges and agrees ----------------- that (a) the Series 200 Portfolio Interest is a separate series of the Titling - Trust as provided by Section 3806(b)(2) of Chapter 38 of Title 12 of the ------------------ Delaware Code, 12 Del.
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Series Liability. 10 Section 14.7. No Petition: Release of Claims...........................11
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Series Liability. Each Holder and Secured Party agrees (such ---------------- agreement to be evidenced by the acceptance by such Holder or Secured Party of the benefits of the applicable Trust Interest or Security Interest) that: (a) any respective Trust Interest in which such Holder holds a beneficial interest or in the assets allocated to such trust interest to which such Secured Party holds (through the Collateral Agent) a security interest is a separate series of the Trust as provided in Section 3806(b)(2) of Chapter 38 of Title 12 of the Delaware Code, 12 Del. C. (S) 3801 et seq., (b) the debts, liabilities, ------- ------ obligations and expenses incurred, contracted for or otherwise existing with respect to the assets allocated to such Trust Interest shall be enforceable against such Trust Interest and the assets allocated to such Trust Interest only, and not against any other assets of Trust Interests of the Trust, (c) except to the extent required by law or specified in the Trust Agreement, assets of the Trust allocated to any other Trust Interest shall not be subject to the claims, debts, liabilities, expenses or obligations arising from or with respect to such Trust Interest or the assets allocated thereto in respect of such claim, (d) no creditor or holder of a claim relating to assets allocated to any Trust Interest shall be entitled to maintain any action against or recover any assets allocated to any other Trust Interest, and (e) any purchaser, assignee or pledgee of an interest in any Trust Interest or the Certificate relating thereto, and each Secured Party must, prior to or contemporaneously with such purchase, the grant of any such assignment, pledge or security interest or the execution and delivery of any Collateral Supplement, (i) give to the Trust a non-petition covenant substantially similar to that set forth in Section 9.7, and (ii) execute an agreement for the benefit of each holder, assignee or pledgee from time to time of the other Trust Interests, to release all claims to the assets of the Trust allocated to the other Trust Interests and in the event that such release is not given effect, to fully subordinate all claims it may be deemed to have against the assets of the Trust allocated to such Trust Interests.
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Related to Series Liability

  • Cross-Liability All required liability policies shall provide cross-liability coverage as would be achieve under the standard ISO separation of insureds clause.

  • Company's Liability The Consultant agrees to defend, indemnify, and hold the Company harmless from an against any and all reasonable costs, expenses and liability (including reasonable attorney's fees paid in defense of the Company) which may in any way result pursuant to its gross negligence or willful misconduct or in any connection with any actions taken or statements made, on behalf of the Company, without the prior approval or authorization of the Company or which are otherwise in violation of applicable law.

  • Our Liability This section explains our liability to you only to the extent that any other agreements, notices or disclosures have not separately disclosed our liability. In no event shall we be liable to you for failure to provide access to your Online Banking or ▇▇▇▇ Payment services accounts. Unless otherwise required by applicable law, we are only responsible for performing the Online Banking and ▇▇▇▇ Payment services as delineated in this Agreement. We will be liable for the amount of any material losses or damages incurred by you and resulting directly from our gross negligence. We will not be liable to you in the following instances: 1. If through no fault of the Bank, you do not have enough money in your account to make the transfer. 2. If circumstances beyond our control (such as fire, flood, power outage, equipment or technical failure or breakdown) prevents the transfer despite reasonable precautions that we have taken. 3. If there is a hold on your account, or if access to your account is blocked, in accordance with banking policy. 4. If your funds are subject to a legal proceeding or other encumbrance restricting the transfer. 5. If your transfer authorization terminates by operation of law. 6. If you believe someone has accessed your accounts without your permission and you fail to notify the Bank immediately. 7. If you have not properly followed the instructions on how to make a transfer included in this Agreement. 8. If we have received incomplete or inaccurate information from you or a third party involving the account or transfer. 9. If we have a reasonable basis for believing that unauthorized use of your Password or account has occurred or may be occurring or if you default under this Agreement, the deposit account agreement, a credit agreement or any other agreement with us, or if we or you terminate this Agreement. IN NO EVENT SHALL WE HAVE ANY LIABILITY TO YOU OR ANY THIRD PARTY FOR ANY INDIRECT, SPECIAL OR CONSEQUENTIAL DAMAGES RESULTING FROM OR ARISING OUT OF THIS AGREEMENT.

  • Excess Liability Developer will purchase and maintain excess liability insurance in an amount not less than $5,000,000.

  • Advisor’s Liability The Advisor shall have responsibility for the accuracy and completeness (and liability for the lack thereof) of the statements in each Fund’s offering materials (including the prospectus, the statement of additional information, and advertising and sales materials), except for information supplied by the co-administrators or the Trust or another third party for inclusion therein. The Advisor will not be liable for any error of judgment or mistake of law or for any loss suffered by Advisor or by the Trust in connection with the performance of this Agreement, except a loss resulting from a breach of fiduciary duty with respect to the receipt of compensation for services or a loss resulting from willful misfeasance, bad faith or gross negligence on its part in the performance of its duties or from reckless disregard by it of its duties under this Agreement.