Trust Certificates Nonassessable and Fully Paid. Certificateholders shall not be personally liable for obligations of the Issuer. The interests represented by the Trust Certificates shall be nonassessable for any losses or expenses of the Issuer or for any reason whatsoever, and, upon the authentication thereof by the Owner Trustee pursuant to Section 3.03, 3.04 or 3.05, the Trust Certificates are and shall be deemed fully paid.
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Samples: Trust Agreement (Honda Auto Receivables 2024-2 Owner Trust), Trust Agreement (Honda Auto Receivables 2024-2 Owner Trust), Trust Agreement (Honda Auto Receivables 2024-1 Owner Trust)
Trust Certificates Nonassessable and Fully Paid. Subject to Section 2.07, Trust Certificateholders shall not be personally liable for obligations of the Issuer. The interests represented by the Trust Certificates shall be nonassessable for any losses or expenses of the Issuer or for any reason whatsoever, and, upon the authentication thereof by the Owner Trustee pursuant to Section 3.03, 3.04 or and 3.05, the Trust Certificates are and shall be deemed fully paid.
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Samples: Trust Agreement (Ryder Truck Rental Lt), Trust Agreement (Ryder Funding Ii Lp)
Trust Certificates Nonassessable and Fully Paid. Trust Certificateholders shall not be personally liable for obligations of the IssuerIssuing Entity. The interests represented by the Trust Certificates shall be nonassessable for any losses or expenses of the Issuer Issuing Entity or for any reason whatsoever, and, upon the authentication thereof by the Owner Trustee pursuant to Section 3.03, 3.04 or and 3.05, the Trust Certificates are and shall be deemed fully paid.. 35 (NALT 20[β]-[β] Amended and Restated Trust Agreement) Table of Contents
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