Actions Resulting in Liability. To take any action under a Transaction Document if the Owner Trustee reasonably determines, or is advised by counsel, that the action is likely to result in liability on the part of the Owner Trustee, is contrary to a Transaction Document or is not permitted by applicable law.
Appears in 105 contracts
Sources: Trust Agreement (Ford Credit Auto Owner Trust 2025-B), Trust Agreement (Ford Credit Auto Owner Trust 2025-B), Trust Agreement (Ford Credit Auto Lease Trust 2025-B)
Actions Resulting in Liability. To take any action under a Transaction Document if the Owner Trustee reasonably determines, or is advised by counsel, that the action is likely to result in liability on the part of the Owner Trustee, is contrary to a Transaction Document or is not permitted by applicable lawLaw.
Appears in 16 contracts
Sources: Trust Agreement (Verizon Owner Trust 2020-C), Trust Agreement (Verizon Owner Trust 2020-C), Trust Agreement (Verizon Owner Trust 2020-B)
Actions Resulting in Liability. To take any action under a Transaction Document or other Series Related Document if the Owner Trustee reasonably determines, or is advised by counsel, that the action is likely to result in liability on the part of the Owner Trustee, is contrary to a Transaction Document or other Series Related Document or is not permitted by applicable lawLaw.
Appears in 6 contracts
Sources: Trust Agreement (Verizon Master Trust), Trust Agreement (Verizon Master Trust), Master Collateral Agency and Intercreditor Agreement (Verizon Master Trust)