Series Trust. The Trust shall be a series trust and the debts, liabilities, obligations and expenses incurred, contracted for or otherwise existing with respect to a particular series shall be enforceable against the assets of such series only, and not against the assets of the Trust generally.
Appears in 13 contracts
Sources: Trust Agreement (Mmca Auto Owner Trust 2001-4), Trust Agreement (Daimlerchrysler Services North America LLC), Trust and Servicing Agreement (Honda Titling D Lp)
Series Trust. The Trust shall be a series trust and the debts, liabilities, obligations and expenses incurred, contracted for or otherwise existing with respect to a particular series shall be enforceable against the assets of such series only, and not against the assets of the Trust generallygenerally or any other series.
Appears in 2 contracts
Sources: Trust and Servicing Agreement (Nissan Auto Leasing LLC Ii), Trust and Servicing Agreement (Nissan Auto Lease Trust 2003-A)
Series Trust. The Trust shall be a series trust and the debts, ------------ liabilities, obligations and expenses incurred, contracted for or otherwise existing with respect to a particular series shall be enforceable against the assets of such series only, and not against the assets of the Trust generally.
Appears in 1 contract