Trust Certificates Nonassessable and Fully Paid. Trust Certificateholders shall not be personally liable for obligations of the Securitization Trust. Except as set forth herein, the interests represented by the Trust Certificates shall be nonassessable for any losses or expenses of the Securitization Trust or for any reason whatsoever, and, upon authentication thereof pursuant to Sections 3.3, 3.4 and 3.5, the Trust Certificates shall be deemed fully paid.
Appears in 64 contracts
Samples: Trust Agreement (GM Financial Automobile Leasing Trust 2024-3), Trust Agreement (GM Financial Automobile Leasing Trust 2024-3), Trust Agreement (GM Financial Automobile Leasing Trust 2024-2)
Trust Certificates Nonassessable and Fully Paid. Trust Certificateholders shall not be personally liable for obligations of the Securitization TrustIssuing Entity. Except as set forth herein, the The interests represented by the Trust Certificates shall be nonassessable for any losses or expenses of the Securitization Trust Issuing Entity or for any reason whatsoever, and, upon authentication thereof pursuant to Sections 3.3Section 3.03, 3.4 3.04 and 3.53.05, the Trust Certificates shall be deemed fully paid.
Appears in 62 contracts
Samples: Trust Agreement (Nissan Auto Lease Trust 2024-B), Trust Agreement (Nissan Auto Lease Trust 2024-B), Trust Agreement (Nissan Auto Lease Trust 2024-A)
Trust Certificates Nonassessable and Fully Paid. Trust Certificateholders shall not be personally liable for obligations of the Securitization Trust. Except as set forth herein, the The interests represented by the Trust Certificates shall be nonassessable for any losses or expenses of the Securitization Trust or for any reason whatsoever, and, upon authentication thereof pursuant to Sections 3.3Section 3.03, 3.4 3.04 and 3.53.05, the Trust Certificates shall be deemed fully paid.
Appears in 6 contracts
Samples: Trust Agreement (Nissan Auto Lease Trust 2004-A), Trust Agreement (Nissan Auto Leasing LLC Ii), Trust Agreement (Nissan Auto Lease Trust 2003-A)
Trust Certificates Nonassessable and Fully Paid. Trust Certificateholders shall not be personally liable for obligations of the Securitization TrustIssuing Entity. Except as set forth herein, the The interests represented by the Trust Certificates shall be nonassessable for any losses or expenses of the Securitization Trust Issuing Entity or for any reason whatsoever, and, upon authentication thereof pursuant to Sections 3.3Section 3.03, 3.4 3.04 and 3.53.05, the Trust Certificates shall be deemed fully paid.. 35 (NALT 2023-B Amended and Restated Trust Agreement)
Appears in 2 contracts
Samples: Trust Agreement (Nissan Auto Lease Trust 2023-B), Trust Agreement (Nissan Auto Lease Trust 2023-B)
Trust Certificates Nonassessable and Fully Paid. Trust Certificateholders shall not be personally liable for obligations of the Securitization TrustIssuing Entity. Except as set forth herein, the The interests represented by the Trust Certificates shall be nonassessable for any losses or expenses of the Securitization Trust Issuing Entity or for any reason whatsoever, and, upon authentication thereof pursuant to Sections 3.3Section 3.03, 3.4 3.04 and 3.53.05, the Trust Certificates shall be deemed fully paid.. 33 (NALT 20[•]-[•] Amended and Restated Trust Agreement)
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Trust Certificates Nonassessable and Fully Paid. Trust Certificateholders shall not be personally liable for obligations of the Securitization TrustIssuing Entity. Except as set forth herein, the The interests represented by the Trust Certificates shall be nonassessable for any losses or expenses of the Securitization Trust Issuing Entity or for any reason whatsoever, and, upon authentication thereof pursuant to Sections 3.3Section 3.03, 3.4 3.04 and 3.53.05, the Trust Certificates shall be deemed fully paid.. 34 (NALT 20[●]-[●] Amended and Restated Trust Agreement)
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