Common use of Trustee Not Liable for Certificates or Leases Clause in Contracts

Trustee Not Liable for Certificates or Leases. The Trustee shall not have any obligation to perform any of the duties of the Grantor or the Servicer unless explicitly set forth in this Agreement or any other Trust Document to which the Trustee is a party. The Trustee shall not at any time have any responsibility or Liability for or with respect to: (i) the legality, validity and enforceability of any security interest in any Trust Asset; (ii) the perfection or priority of such a security interest or the maintenance of any such perfection and priority; (iii) the efficacy of the Trust or its ability to generate the payments to be distributed to the Holders under the Trust Documents, including the existence, condition, location and ownership of any Trust Asset; (iv) the existence and enforceability of any Insurance Policy; (v) the existence and contents of any Lease or any computer or other record thereof; (vi) the validity of the assignment of any Trust Asset to the Trust or the Trustee on behalf of the Trust or of any intervening assignment; (vii) the completeness, performance or enforcement of any Lease; (viii) the compliance by the Grantor or the Servicer with any covenant or the breach by the Grantor, any Beneficiary or the Servicer of any warranty or representation in any Trust Document and the accuracy of any such warranty or representation prior to the Trustee's receipt of notice or other discovery of any noncompliance therewith or any breach thereof; (ix) any investment of monies at the direction of the Servicer or any Loss resulting therefrom; (x) the acts or omissions of any Dealer or other Person in connection with the origination of any Lease; (xi) any action of the Servicer taken in the name of the Trustee; or (xii) any action by the Trustee taken at the instruction of the Servicer; provided, however, that the foregoing shall not relieve the Trustee of its obligation to perform its duties under this Agreement or the other Trust Documents to which the Trustee is a party. Except with respect to a Claim based on the Trustee's willful misconduct, bad faith or negligence, (i) no recourse shall be had against the institution serving as Trustee in its individual capacity for any Claim based on any provision of this Agreement or any such other Trust Document, a Certificate or any Trust Asset or assignment thereof and (ii) the Trustee shall not have any personal obligation, Liability or duty whatsoever to any Holder or any other Person with respect to any such Claim, and any such Claim shall be asserted solely against the Trust Assets or any indemnitor that shall furnish indemnity as provided for in this Agreement or in the other Trust Documents. The Trustee shall not be accountable for the use or application by a Holder or a Special Purpose Affiliate of any Certificate(s) or the proceeds thereof, or for the use or application of any funds properly paid to the Servicer pursuant to any Servicing Agreement.

Trustee Not Liable for Certificates or Leases. The Trustee shall not have any obligation to perform any of the duties of the Grantor Grantors or the Servicer Administrative Agent unless explicitly set forth in this Agreement or any other Trust Document to which the Trustee is a party. The Trustee shall not at any time have any responsibility or Liability for or with respect to: (i) the legality, validity and enforceability of any security interest in any Trust Asset; (ii) the perfection or priority of such a security interest or the maintenance of any such perfection and priority; (iii) the efficacy of the Trust or its ability to generate the payments to be distributed to the Holders under the Trust Documents, including the existence, condition, location and ownership of any Trust Asset; (iv) the existence and enforceability of any Insurance Policy; (v) the existence and contents of any Lease or any computer or other record thereof; (vi) the validity of the assignment of any Trust Asset to the Trust or the Trustee on behalf of the Trust or of any intervening assignment; (vii) the completeness, performance or enforcement of any Lease; (viii) the compliance by the Grantor Grantors or the Servicer Administrative Agent with any covenant or the breach by the a Grantor, any Beneficiary or the Servicer Administrative Agent of any warranty or representation in any Trust Document and the accuracy of any such warranty or representation prior to the Trustee's receipt of notice or other discovery of any noncompliance therewith or any breach thereof; (ix) any investment of monies at the direction of the Servicer Administrative Agent or any Loss resulting therefrom; (x) the acts or omissions of any Dealer or other Person in connection with the origination of any Lease; (xi) any action of the Servicer Administrative Agent taken in the name of the Trustee; or (xii) any action by the Trustee taken at the instruction of the Servicer; provided, however, that the foregoing shall not relieve the Trustee of its obligation to perform its duties under this Agreement or the other Trust Documents to which the Trustee is a party. Except with respect to a Claim based on the Trustee's willful misconduct, bad faith or negligence, (i) no recourse shall be had against the institution serving as Trustee in its individual capacity for any Claim based on any provision of this Agreement or any such other Trust Document, a Certificate or any Trust Asset or assignment thereof and (ii) the Trustee shall not have any personal obligation, Liability or duty whatsoever to any Holder or any other Person with respect to any such Claim, and any such Claim shall be asserted solely against the Trust Assets or any indemnitor that shall furnish indemnity as provided for in this Agreement or in the other Trust Documents. The Trustee shall not be accountable for the use or application by a Holder or a Special Purpose Affiliate of any Certificate(s) or the proceeds thereof, or for the use or application of any funds properly paid to the Servicer pursuant to any Servicing Agreement.Administrative Agent;

Trustee Not Liable for Certificates or Leases. The Trustee shall not have any obligation to perform any of the duties of the either Grantor or the Servicer unless explicitly set forth in this Agreement or any other Trust Document to which the Trustee is a party. The Trustee shall not at any time have any responsibility or Liability liability for or with respect to: to (i) the legality, validity and enforceability of any security interest in any Trust Asset; , (ii) the perfection or priority of any such a security interest or the maintenance of any such perfection and priority; , (iii) the efficacy of the Trust or its ability to generate the payments to be distributed to the Holders under the Trust Documents, including the existence, condition, location and ownership of any Trust Asset; , (iv) the existence and enforceability of any Insurance Policy; , (v) the existence and contents of any Lease or any computer or other record thereof; , (vi) the validity of the assignment of any Trust Asset to the Trust or the Trustee on behalf of the Trust or of any intervening assignment; , (vii) the completeness, performance or enforcement of any Lease; , (viii) the compliance by the either Grantor or the Servicer with any covenant or the breach by the either Grantor, any Beneficiary or the Servicer of any warranty or representation in any Trust Document and the accuracy of any such warranty or representation prior to the Trustee's receipt of notice or other discovery of any noncompliance therewith or any breach thereof; , (ix) any investment of monies at the direction of the Servicer or any Loss loss resulting therefrom; , (x) the acts or omissions of any Dealer or other Person in connection with the origination of any Lease; , (xi) any action of the Servicer taken in the name of the Trustee; Trustee or (xii) any action by the Trustee taken at the instruction of the Servicer; provided, however, that the foregoing shall not relieve the Trustee of its obligation to perform its duties under this Agreement or and the other Trust Documents to which the Trustee it is a party. Except with respect to a Claim claim based on the Trustee's willful misconduct, bad faith or negligence, (i) no recourse shall be had against the institution serving as Trustee in its individual capacity for any Claim claim based on any provision of this Agreement or any such other Trust Document, a Certificate or any Trust Asset or the assignment thereof and (ii) the Trustee shall not have any personal obligation, Liability liability or duty whatsoever to any Holder the Holders or any other Person with respect to any such Claimclaim, and any such Claim claim shall be asserted solely against the Trust Assets or any indemnitor that shall furnish indemnity as provided for in this Agreement or in the other Trust Documents. The Trustee shall not be accountable for the use or application by a Holder or a Special Purpose Affiliate of any Certificate(s) or the proceeds thereof, or for the use or application of any funds properly paid to the Servicer pursuant to any Servicing Agreement.application

Trustee Not Liable for Certificates or Leases. The Trustee shall not make no representations as to the validity or sufficiency of this Agreement or of the Certificates (other than the execution by the Trustee on behalf of the Trust of, and the certificate of authentication on, the Certificates), or of the 99.8% 1996-B SUBI Interest or 99.8% 1996-B SUBI Certificate. The Trustee shall have any no obligation to perform any of the duties of the Grantor or the Servicer Seller unless explicitly set forth in this Agreement or any other Trust Document to which the Trustee is a partyAgreement. The Trustee shall not at any no time have any responsibility or Liability liability for or with respect to: (i) to the legality, validity and enforceability of the 99.8% 1996-B SUBI Interest or 99.8% 1996-B SUBI Certificate or any security 1996-B Lease, any ownership interest in any Trust Asset; (ii) the perfection or priority of such a security interest 1996-B Leased Vehicle, or the maintenance of any such perfection and priority; (iii) ownership interest, or for or with respect to the efficacy of the Trust or its ability to generate the payments to be distributed to Certificateholders under this Agreement, including without limitation the Holders under validity of the assignment of the 99.8% 1996-B SUBI Interest or 99.8% 1996-B SUBI Certificate to the Trust Documents, including or of any intervening assignment; the existence, condition, location and ownership of any Trust Asset1996-B Lease or 1996-B Leased Vehicle; (iv) the existence and enforceability of any Insurance Policyphysical damage or credit life or credit disability insurance; (v) the existence and contents of any 1996-B Lease or any computer or other record thereof; (vi) the validity of the assignment completeness of any Trust Asset to 1996-B Lease; the Trust or the Trustee on behalf of the Trust or of any intervening assignment; (vii) the completeness, performance or enforcement of any Lease; (viii) the compliance by the Grantor or the Servicer Seller with any covenant or the breach by the Grantor, any Beneficiary or the Servicer Seller of any warranty or representation made under this Agreement or in any Trust Document related document and the accuracy of any such warranty or representation prior to the Trustee's receipt of notice or other discovery of any noncompliance therewith or any breach thereof; (ix) any investment of monies at the direction of the Servicer or any Loss resulting therefrom; (x) the acts or omissions of any Dealer the Seller or other Person in connection with the origination of any Lease; (xi) any action of the Servicer taken in the name of the TrusteeServicer; or (xii) any action by the Trustee taken at the instruction of the Servicer; provided, however, that the foregoing shall not relieve the Trustee of its obligation to perform its duties under this Agreement or the other Trust Documents to which the Trustee is a partyAgreement. Except with respect to a Claim claim based on the Trustee's willful misconduct, bad faith or negligence, (i) no recourse shall be had against the institution serving as Trustee in its individual capacity for any Claim based on any provision failure of this Agreement or any such other Trust Document, a Certificate or any Trust Asset or assignment thereof and (ii) the Trustee shall not have any personal obligation, Liability or duty whatsoever to any Holder or any other Person with respect to any such Claim, and any such Claim shall be asserted solely against the Trust Assets or any indemnitor that shall furnish indemnity as provided for in perform its duties under this Agreement or in the other Trust Documents. The Trustee shall not be accountable for the use or application by a Holder or a Special Purpose Affiliate of any Certificate(s) or the proceeds thereof, or for the use or application of any funds properly paid to the Servicer pursuant to any Servicing Agreement.