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
Samples: Trust Agreement (Mmca Auto Owner Trust 2001-1), Trust Agreement (Mmca Auto Receivables Trust), Trust Agreement (Mmca Auto Receivables Trust)
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
Samples: Trust and Servicing Agreement (Nissan Auto Lease Trust 2003-A), Trust and Servicing Agreement (Nissan Auto Leasing LLC Ii)
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
