Common use of Series Liability Clause in Contracts

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.

Series Liability. Each party hereto acknowledges and agrees that (a) the Series 20032002-A B 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 (S) 3801 et seq., (b) the debts, liabilities, obligations and expenses incurred, contracted for or otherwise existing with respect to the Series 20032002-A B Portfolio Interest shall be enforceable only against the Series 20032002-A B 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 20032002-A B Portfolio Supplement, Portfolio Assets with respect to any Portfolio Interest (other than the Series 20032002-A B Portfolio Interest) shall not be subject to the claims, debts, liabilities, expenses or obligations arising from or with respect to the Series 20032002-A B 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 20032002-A B 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.

Series Liability. Each party hereto acknowledges and agrees that (a) the Series 2003-A B 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 ss. 3801 et seq., (b) the debts, liabilities, obligations and expenses incurred, contracted for or otherwise existing with respect to the Series 2003-A B Portfolio Interest shall be enforceable only against the Series 2003-A B 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 B Portfolio Supplement, Portfolio Assets with respect to any Portfolio Interest (other than the Series 2003-A B Portfolio Interest) shall not be subject to the claims, debts, liabilities, expenses or obligations arising from or with respect to the Series 2003-A B 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 B 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.

Series Liability. Each party hereto acknowledges and agrees that (a) the Series 20032006-A ARC 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 20032006-A ARC Portfolio Interest shall be enforceable only against the Series 20032006-A ARC 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 20032006-A ARC Portfolio Supplement, Portfolio Assets with respect to any Portfolio Interest (other than the Series 20032006-A ARC Portfolio Interest) shall not be subject to the claims, debts, liabilities, expenses or obligations arising from or with respect to the Series 20032006-A ARC 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 20032006-A ARC 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.

Series Liability. Each party hereto acknowledges and agrees that (a) the Series 20032004-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 20032004-A Portfolio Interest shall be enforceable only against the Series 20032004-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 20032004-A Portfolio Supplement, Portfolio Assets with respect to any Portfolio Interest (other than the Series 20032004-A Portfolio Interest) shall not be subject to the claims, debts, liabilities, expenses or obligations arising from or with respect to the Series 20032004-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 20032004-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.

Series Liability. Each party hereto acknowledges and agrees that (a) the Series 20032005-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 20032005-A Portfolio Interest shall be enforceable only against the Series 20032005-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 20032005-A Portfolio Supplement, Portfolio Assets with respect to any Portfolio Interest (other than the Series 20032005-A Portfolio Interest) shall not be subject to the claims, debts, liabilities, expenses or obligations arising from or with respect to the Series 20032005-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 20032005-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.

Series Liability. Each party hereto acknowledges and agrees that (a) the Series 20032004-A B 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 20032004-A B Portfolio Interest shall be enforceable only against the Series 20032004-A B 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 20032004-A B Portfolio Supplement, Portfolio Assets with respect to any Portfolio Interest (other than the Series 20032004-A B Portfolio Interest) shall not be subject to the claims, debts, liabilities, expenses or obligations arising from or with respect to the Series 20032004-A B 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 20032004-A B 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.