ASSIGNMENT TO THE TRUSTEE. (a) The Servicer hereby acknowledges and consents to any pledge, assignment and grant of a security interest by the Issuer to the Trustee pursuant to the Indenture or to any Trustee pursuant to any Additional Indenture, for the benefit of the applicable Bondholders and the Trustee, of all right, title and interest of the Issuer in, to and under the Storm-Recovery Property owned by the Issuer and the proceeds thereof and the assignment of any or all of the Issuer's rights hereunder to such Trustee or Trustees. (b) In no event shall any Trustee have any liability for the representations, warranties, covenants, agreements or other obligations of the Issuer hereunder or in any of the certificates, notices or agreements delivered pursuant hereto, as to all of which recourse shall be had solely to the assets of the Issuer. (c) The Trustee, in acting hereunder, is entitled to all rights, benefits, protections, immunities and indemnities accorded to it under the Indenture.
Appears in 2 contracts
Sources: Storm Recovery Property Servicing Agreement (Florida Power & Light Co), Storm Recovery Property Servicing Agreement (FPL Recovery Funding LLC)
ASSIGNMENT TO THE TRUSTEE. (a) The Servicer hereby acknowledges and consents to any pledge, assignment and grant of a security interest by the Issuer to the Trustee pursuant to the Indenture or to any Trustee pursuant to any Additional Indenture, for the benefit of the applicable Bondholders and the Trustee, of all right, title and interest of the Issuer in, to and under the Storm-Recovery Property owned by the Issuer and the proceeds thereof and the assignment of any or all of the Issuer's rights hereunder to such Trustee or Trustees.
(b) In no event shall any Trustee have any liability for the representations, warranties, covenants, agreements or other obligations of the Issuer hereunder or in any of the certificates, notices or agreements delivered pursuant hereto, as to all of which recourse shall be had solely to the assets of the Issuer.
(c) The Trustee, in acting hereunder, is entitled to all rights, benefits, protections, immunities and indemnities accorded to it under the Indenture.
Appears in 1 contract
Sources: Storm Recovery Property Servicing Agreement (FPL Recovery Funding LLC)