Examples of AART Transaction Documents in a sentence
The rights, privileges, protections, immunities and benefits given to the AART Indenture Trustee, including its right to be indemnified, are extended to, and shall be enforceable by, the AART Indenture Trustee in each of its capacities hereunder, including its capacity under Section 4.4, and in connection with the performance of any of its duties or obligations under any of the AART Transaction Documents.
The AART Indenture Trustee shall have no liability or responsibility for the acts or omissions of any other party to any of the AART Transaction Documents.
The Issuing Entity shall not, directly or indirectly, make payments to or distributions from the AART Collection Account except in accordance with the AART Transaction Documents.
It is understood and agreed that the obligation of the Seller to repurchase any Secured Note as to which a breach has occurred and is continuing shall, if such obligation is fulfilled, constitute the sole remedy against the Seller under the AART Transaction Documents for such breach available to Ally Auto or any Interested Party.
The Issuing Entity may contract with other Persons to assist it in performing its duties under this AART Indenture, and any performance of such duties by a Person identified to the AART Indenture Trustee in the AART Transaction Documents or an Officer’s Certificate of the Issuing Entity shall be deemed to be action taken by the Issuing Entity.
The Issuing Entity shall not issue, incur, assume, guarantee or otherwise become liable, directly or indirectly, for any indebtedness for money borrowed other than indebtedness for money borrowed in respect of the Notes or otherwise in accordance with the AART Transaction Documents.
The AART Owner Trustee also agrees to disburse all monies actually received by it constituting part of the AART Owner Trust Estate upon the terms of the AART Transaction Documents.
The AART Owner Trustee is further authorized from time to time to take such action as the Administrator recommends and directs in writing with respect to the AART Transaction Documents.
Each Note represents beneficial interests in the Issuing Entity only and does not represent interests in or obligations of the Depositor, the Servicer, the Administrator, the AART Indenture Trustee, the ACOLT Indenture Trustee or any Affiliate thereof and no recourse, either directly or indirectly, may be had against such parties or their assets, except as may be expressly set forth or contemplated in the AART Transaction Documents.
Except as expressly provided in the AART Transaction Documents, in the event of nonpayment of any amounts with respect to the Notes, each Noteholder shall have no claim against any of the Depositor, the Servicer, the Administrator, the AART Indenture Trustee, the ACOLT Indenture Trustee or any Affiliate for any deficiency, loss or claim therefrom.