Certificates Nonassessable and Fully Paid. The Certificateholders shall not be personally liable for the obligations of the Trust. The interests represented by the Certificates shall be nonassessable for any losses or expenses of the Trust or for any reason whatsoever, and, upon the authentication thereof by the Owner Trustee pursuant to Section 3.3, Section 3.4 or Section 3.5, the Certificates are and shall be deemed fully paid.
Appears in 105 contracts
Sources: Trust Agreement (CarMax Auto Owner Trust 2025-4), Trust Agreement (CarMax Auto Owner Trust 2025-4), Trust Agreement (CarMax Auto Owner Trust 2025-3)
Certificates Nonassessable and Fully Paid. The parties agree that the Certificateholders shall not be personally liable for the obligations of the Trust. The , that the beneficial ownership interests represented by the Certificates shall be nonassessable for any losses or expenses of the Trust or for any reason whatsoever, andand that the Certificates upon execution, upon the authentication and delivery thereof by the Owner Trustee pursuant to Section 3.3, Section 3.4 or Section 3.5, the Certificates 6.02 are and shall be deemed fully paid.
Appears in 35 contracts
Sources: Pooling and Servicing Agreement (Renaissance Mort Acc Corp Renaissance Home Eq Ln Tr 2004 1), Pooling and Servicing Agreement (Home Equity Loan Asset-Backed Certificates Series 2003-2), Pooling and Servicing Agreement (Renaissance Mort Accept Corp Home Equity Ln as Bk Ce Se 03-3)
Certificates Nonassessable and Fully Paid. The Certificateholders shall not be personally liable for the obligations of the Trust. The interests represented by the Certificates shall be nonassessable for any losses or expenses of the Trust or for any reason whatsoever, and, upon the authentication thereof by the Owner Trustee pursuant to Section 3.3, Section 3.4 or Section 3.53.03, the Certificates are and shall be deemed fully paid.
Appears in 29 contracts
Sources: Trust Agreement (WFS Financial Auto Loans Inc), Trust Agreement (WFS Financial Auto Loans Inc), Trust Agreement (WFS Financial Auto Loans Inc)
Certificates Nonassessable and Fully Paid. The Certificateholders shall not be personally liable for the obligations of the Trust. The interests represented by the Certificates shall be nonassessable for any losses or expenses of the Trust or for any reason whatsoever, and, upon the authentication thereof by the Owner Trustee pursuant to Section 3.3, Section 3.4 or Section 3.5, the Certificates are and shall be deemed fully paid.
Appears in 20 contracts
Sources: Trust Agreement (CarMax Auto Owner Trust 2011-3), Trust Agreement (CarMax Auto Owner Trust 2011-2), Trust Agreement (Carmax Auto Funding LLC)
Certificates Nonassessable and Fully Paid. The parties agree that the Certificateholders shall not be personally liable for the obligations of the Trust. The , that the beneficial ownership interests represented by the Certificates shall be nonassessable for any losses or expenses of the Trust or for any reason whatsoever, andand that Certificates upon execution, upon the authentication and delivery thereof by the Owner Trustee pursuant to Section 3.3, Section 3.4 or Section 3.5, the Certificates 2.06 are and shall be deemed fully paid.
Appears in 19 contracts
Sources: Pooling and Servicing Agreement (Aames Capital Corp), Pooling and Servicing Agreement (Aames Capital Corp), Pooling and Servicing Agreement (Aames Capital Corp Mort Pass THR Certs Ser 2001 3)
Certificates Nonassessable and Fully Paid. The Certificateholders shall not be personally liable for the obligations of the Trust. The interests represented by the Certificates shall be nonassessable for any losses or expenses of the Trust or for any reason whatsoever, and, upon the authentication thereof by the Owner Trustee pursuant to Section 3.3, Section 3.4 or Section 3.5, the Certificates are and shall be deemed fully paid.
Appears in 19 contracts
Sources: Master Trust Agreement (Aegis Consumer Funding Group Inc), Pooling and Servicing Agreement (Bear Stearns Asset Backed Funding Inc), Pooling and Servicing Agreement (Gs Mortgage Securities Corp)
Certificates Nonassessable and Fully Paid. The parties agree that the Certificateholders shall not be personally liable for the obligations of the Trust. The , that the beneficial ownership interests represented by the Certificates shall be nonassessable for any losses or expenses of the Trust or for any reason whatsoever, and, and that the Certificates upon execution by the Trustee on behalf of the Trust and the authentication and delivery thereof by the Owner Trustee pursuant to Section 3.3, Section 3.4 Sections 2.05 or Section 3.5, the Certificates 6.01 are and shall be deemed fully paid.
Appears in 9 contracts
Sources: Pooling and Servicing Agreement (HSBC Home Equity Loan Corp I), Pooling and Servicing Agreement (HSBC Home Equity Loan Corp I), Pooling and Servicing Agreement (HFC Revolving Corp)
Certificates Nonassessable and Fully Paid. The Certificateholders shall not be personally liable for the obligations of the Trust. The interests represented by the Certificates shall be nonassessable for any losses or expenses of the Trust or for any reason whatsoever, and, upon the authentication thereof by the Owner Trustee pursuant to Section 3.311.02, Section 3.4 or Section 3.5, the Certificates are and shall be deemed fully paid.
Appears in 9 contracts
Sources: Pooling and Servicing Agreement (Uacsc 1997-D Auto Trust), Pooling and Servicing Agreement (Uacsc 1999 a Auto Trust), Pooling and Servicing Agreement (Uacsc 1998-B Auto Trust)
Certificates Nonassessable and Fully Paid. The Certificateholders shall not be personally liable for the obligations of the Trust. The interests represented by the Certificates shall be nonassessable for any losses or expenses of the Trust or for any reason whatsoever, and, upon the authentication thereof by the Owner Trustee pursuant to Section 3.36.2, Section 3.4 or Section 3.5, the Certificates are and shall be deemed fully paid.
Appears in 7 contracts
Sources: Pooling and Servicing Agreement (Chevy Chase Bank FSB), Pooling and Servicing Agreement (Chevy Chase Auto Receivables Trust 1996-2), Pooling and Servicing Agreement (Chevy Chase Bank FSB)
Certificates Nonassessable and Fully Paid. The Certificateholders shall not be personally liable for the obligations of the Trust. The interests represented by the Certificates shall be nonassessable for any losses or expenses of the Trust or for any reason whatsoever, and, upon the authentication thereof by the Owner Trustee pursuant to Section 3.35.2, Section 3.4 or Section 3.5, the Certificates are and shall be deemed fully paid.
Appears in 6 contracts
Sources: Pooling and Servicing Agreement (Onyx Acceptance Financial Corp), Pooling and Servicing Agreement (Onyx Acceptance Financial Corp), Pooling and Servicing Agreement (Onyx Acceptance Grantor Trust 1997-3)
Certificates Nonassessable and Fully Paid. The Certificateholders shall not be personally liable for the obligations of the Trust. The fractional undivided interests in the Trust represented by the Certificates shall be nonassessable for any losses or expenses of the Trust or for any reason whatsoever, and, and Certificates upon the authentication execution thereof by the Owner Trustee pursuant to Section 3.3, Section 3.4 or Section 3.5, the Certificates 3.3 are and shall be deemed fully paid.
Appears in 6 contracts
Sources: Trust Agreement (Conseco Finance Securitizations Corp), Trust Agreement (Green Tree Financial Corp), Trust Agreement (Green Tree Financial Corp)
Certificates Nonassessable and Fully Paid. The Certificateholders shall not be personally liable for the obligations of the Trust. The interests represented by the Certificates shall be nonassessable for any losses or expenses of the Trust or for any reason whatsoever, and, upon the authentication thereof by the Owner Trustee pursuant to Section 3.3, Section 3.4 or Section 3.53.03, the Certificates are and shall be deemed fully paid.. ARTICLE FOUR
Appears in 6 contracts
Sources: Trust Agreement (WFS Receivables Corp 3), Trust Agreement (WFS Financial 2004-4 Owner Trust), Trust Agreement (WFS Financial 2005-1 Owner Trust)
Certificates Nonassessable and Fully Paid. The Certificateholders shall not be personally liable for the obligations of the Trust. The interests represented by the Certificates shall be nonassessable for any losses or expenses of the Trust or for any reason whatsoever, and, upon the authentication thereof by the Owner Trustee pursuant to Section 3.3, Section 3.4 7.02 or Section 3.57.03, the Certificates are and shall be deemed fully paid.
Appears in 5 contracts
Sources: Pooling and Servicing Agreement (Nissan Auto Receivables Corp /De), Pool and Servicing Agreement (Nissan Auto Receivables Corp Ii), Pooling and Servicing Agreement (Nissan Auto Receivables Corp Ii)
Certificates Nonassessable and Fully Paid. The parties agree that the Certificateholders shall not be personally liable for the obligations of the Trust. The , that the beneficial ownership interests represented by the Certificates shall be nonassessable for any losses or expenses of the Trust or for any reason whatsoever, and, and that the Certificates upon execution by the Trustee on behalf of the Trust and the authentication and delivery thereof by the Owner Trustee Administrator pursuant to Section 3.3, Section 3.4 or Section 3.5, the Certificates Sections 2.05 and 5.01 are and shall be deemed fully paid.
Appears in 5 contracts
Sources: Pooling and Servicing Agreement (HSBC Home Equity Loan Trust (USA) 2007-1), Pooling and Servicing Agreement (HSBC Home Equity Loan Trust (USA) 2006-3), Pooling and Servicing Agreement (HSBC Home Equity Loan Trust (USA) 2007-3)
Certificates Nonassessable and Fully Paid. The Certificateholders Owners shall not be personally liable for the obligations of the Trust. The Except as expressly provided herein, the interests represented by the Trust Certificates shall be nonassessable for any losses or expenses of the Trust or for any reason whatsoever, and, upon the authentication thereof by the Owner Trustee pursuant to Section 3.3, Section 3.4 or Section 3.53.03, the Trust Certificates are and shall be deemed fully paid.
Appears in 5 contracts
Sources: Trust Agreement (Onyx Acceptance Financial Corp), Trust Agreement (Onyx Acceptance Financial Corp), Trust Agreement (Onyx Acceptance Financial Corp)
Certificates Nonassessable and Fully Paid. The Certificateholders shall not be personally liable for the obligations of the Trust. The interests represented by the Certificates shall be nonassessable for any losses or expenses of the Trust or for any reason whatsoever, and, upon the authentication thereof by the Owner Trustee pursuant to Section 3.315.2 or 15.3, Section 3.4 or Section 3.5, the Certificates are and shall be deemed fully paid.
Appears in 4 contracts
Sources: Pooling and Servicing Agreement (Nationscredit Grantor Trust 1997-2), Pooling and Servicing Agreement (Nationscredit Securitization Corp), Pooling and Servicing Agreement (Nationscredit Grantor Trust 1997-2)
Certificates Nonassessable and Fully Paid. The parties agree that the Certificateholders shall not be personally liable for the obligations of the Trust. The , that the beneficial ownership interests represented by the Certificates shall be nonassessable for any losses or expenses of the Trust or for any reason whatsoever, andand that Certificates upon execution, upon the authentication and delivery thereof by the Owner Trustee pursuant to Section 3.3, Section 3.4 or Section 3.5, the Certificates 6.1 are and shall be deemed fully paid.
Appears in 4 contracts
Sources: Pooling and Servicing Agreement (Capitol Revolving Home Equity Loan Trust 1996-1), Pooling and Servicing Agreement (Chevy Chase Bank FSB), Pooling and Servicing Agreement (Chevy Chase Bank FSB)
Certificates Nonassessable and Fully Paid. The Certificateholders shall not be personally liable for the obligations of the Trust. The interests represented by the Trust Certificates shall be nonassessable for any losses or expenses of the Trust or for any reason whatsoever, and, upon the authentication thereof by the Owner Trustee pursuant to Section 3.33.03, Section 3.4 3.04 or Section 3.53.05, the Trust Certificates are and shall be deemed fully paid.
Appears in 4 contracts
Sources: Trust Agreement (Merrill Auto Trust Securitization 2008-1), Trust Agreement (Ml Asset Backed Corp), Trust Agreement (Merrill Auto Trust Securitization 2007-1)
Certificates Nonassessable and Fully Paid. The Certificateholders shall not be personally liable for the obligations of the Trust. The interests represented by the Certificates shall be nonassessable for any losses or expenses of the Trust or for any reason whatsoever, and, upon the authentication thereof by the Owner Trustee pursuant to Section 3.3, Section 3.4 5.02 or Section 3.55.03, the Certificates are and shall be deemed fully paid.
Appears in 4 contracts
Sources: Pooling and Servicing Agreement (Toyota Motor Credit Corp), Pooling and Servicing Agreement (Toyota Motor Credit Corp), Pooling and Servicing Agreement (Toyota Motor Credit Corp)
Certificates Nonassessable and Fully Paid. The parties agree that the Certificateholders shall not be personally liable for the obligations of the Trust. The , that the beneficial ownership interests represented by the Certificates shall be nonassessable non-assessable for any losses or expenses of the Trust or for any reason whatsoever, andand that the Certificates upon execution, upon the authentication and delivery thereof by the Owner Trustee pursuant to Section 3.3, Section 3.4 or Section 3.5, the Certificates 6.02 are and shall be deemed fully paid.
Appears in 4 contracts
Sources: Pooling and Servicing Agreement (Home Loan Mortgage Loan Trust 2005-1), Pooling and Servicing Agreement (Structured Asset Securities Corp), Pooling and Servicing Agreement (Lehman Abs Corp)
Certificates Nonassessable and Fully Paid. The Certificateholders shall not be personally liable for the obligations of the Trust. The interests represented by the Certificates shall be nonassessable for any losses or expenses of the Trust or for any reason whatsoever, and, and upon the authentication thereof by the Owner Trustee pursuant to Section 3.36.2 or 6.3, Section 3.4 or Section 3.5, the Certificates are and shall be deemed fully paid.
Appears in 4 contracts
Sources: Pooling and Servicing Agreement (Consumer Portfolio Services Inc), Pooling and Servicing Agreement (Consumer Portfolio Services Inc), Pooling and Servicing Agreement (Financial Asset Securities Corp)
Certificates Nonassessable and Fully Paid. The parties agree that the Certificateholders shall not be personally liable for the obligations of the Trust. The , that the beneficial ownership interests represented by the Certificates shall be nonassessable for any losses or expenses of the Trust or for any reason whatsoever, andand that Certificates upon execution, upon the authentication and delivery thereof by the Owner Trustee pursuant to Section 3.3, Section 3.4 or Section 3.5, the Certificates 2.06 are and shall be deemed fully paid.. [SIGNATURES FOLLOW]
Appears in 3 contracts
Sources: Pooling and Servicing Agreement (Aames Capital Corp Aames Mortgage Trust 2002-1), Pooling and Servicing Agreement (Aames Capital Corp Aames Mortgage Trust 2002-1), Pooling and Servicing Agreement (Aames Capital Corp)
Certificates Nonassessable and Fully Paid. The Certificateholders Holders shall not be personally liable for the obligations of the Trust. The Except as expressly provided herein, the interests represented by the Trust Certificates shall be nonassessable for any losses or expenses of the Trust or for any reason whatsoever, and, upon the authentication thereof by the Owner Trustee pursuant to Section 3.3, Section 3.4 or Section 3.53.03, the Trust Certificates are and shall be deemed fully paid.
Appears in 3 contracts
Sources: Trust Agreement (Onyx Acceptance Corp), Trust Agreement (Onyx Acceptance Corp), Trust Agreement (Onyx Acceptance Corp)
Certificates Nonassessable and Fully Paid. The Certificateholders shall not be personally liable for the obligations of the Trust. The interests represented by the Certificates shall be nonassessable for any losses or expenses of the Trust or for any reason whatsoever, and, upon the authentication thereof by the Owner Trustee pursuant to Section 3.3, Section 3.4 3.6 or Section 3.53.7, the Certificates are and shall be deemed fully paid.
Appears in 3 contracts
Sources: Trust Agreement (CarMax Select Receivables Trust 2025-B), Trust Agreement (CarMax Select Receivables Trust 2025-B), Trust Agreement (Carmax Auto Funding LLC)
Certificates Nonassessable and Fully Paid. The Certificateholders shall not be personally liable for the obligations of the Trust. The interests represented by the Certificates shall be nonassessable for any losses or expenses of the Trust or for any reason whatsoever, and, upon the authentication thereof by the Owner Trustee pursuant to Section 3.311.02, Section 3.4 or Section 3.5, the Certificates are and shall be deemed fully paid.
Appears in 2 contracts
Sources: Trust and Servicing Agreement (Bay View Securitization Corp), Trust and Servicing Agreement (Uacsc Auto Trusts)
Certificates Nonassessable and Fully Paid. The Certificateholders shall not be personally liable for the obligations of the Trust. The interests represented by the Certificates shall be nonassessable for any losses or expenses of the Trust or for any reason whatsoever, and, upon the authentication thereof by the Owner Trustee pursuant to Section 3.310.02, Section 3.4 or Section 3.5, the Certificates are and shall be deemed fully paid.
Appears in 2 contracts
Sources: Trust and Servicing Agreement (Bay View Deposit CORP), Trust and Servicing Agreement (Bay View Transaction Corp)
Certificates Nonassessable and Fully Paid. The Certificateholders shall not be personally liable for the obligations of the Trust. The , the fractional undivided interests in the Trust represented by the Certificates shall be nonassessable for any losses or expenses of the Trust or for any reason whatsoever, and, and Certificates upon the authentication execution thereof by the Owner Trustee pursuant to Section 3.3, Section 3.4 or Section 3.5, the Certificates 3.3 are and shall be deemed fully paid.
Appears in 2 contracts
Sources: Trust Agreement (Arcadia Financial LTD), Trust Agreement (Olympic Receivables Finance Corp)
Certificates Nonassessable and Fully Paid. The Certificateholders shall not be personally liable for the obligations of the Trust. The , the interests in the Trust represented by the Certificates shall be nonassessable for any losses or expenses of the Trust or for any reason whatsoever, and, and Certificates upon the authentication thereof by the Owner Trustee pursuant to Section 3.3, Section 3.4 or Section 3.5, the Certificates 5.01 are and shall be deemed fully paid.
Appears in 2 contracts
Sources: Pooling and Servicing Agreement (National Auto Finance Co Inc), Pooling and Servicing Agreement (National Auto Finance Co Inc)
Certificates Nonassessable and Fully Paid. The Certificateholders shall not be personally liable for the obligations of the Trust. The interests represented by the Certificates shall be nonassessable for any losses or expenses of the Trust or for any reason whatsoever, and, upon the authentication thereof by the Owner Trustee pursuant to Section 3.3, Section 3.4 6.2 or Section 3.56.3, the Certificates are and shall be deemed fully paid.
Appears in 2 contracts
Sources: Pooling and Servicing Agreement (Daimler Benz Vehicle Receivables Corp), Pooling and Servicing Agreement (Daimler Benz Vehicle Receivables Corp)
Certificates Nonassessable and Fully Paid. The Certificateholders shall not be personally liable for the obligations of the Trust. The interests represented by the Certificates shall be nonassessable for any losses or expenses of the Trust or for any reason whatsoever, and, and upon the authentication thereof by the Owner Trustee pursuant to Section 3.35.4 or 5.5, Section 3.4 or Section 3.5, the Certificates are and shall be deemed fully paid.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Long Beach Acceptance Corp)
Certificates Nonassessable and Fully Paid. The Certificateholders shall not be personally liable for the obligations of the Trust. The interests represented by the Certificates shall be nonassessable for any losses or expenses of the Trust or for any reason whatsoever, and, upon the authentication thereof by the Owner Trustee pursuant to Section 3.3, Section 3.4 16.2 or Section 3.516.3, the Certificates are and shall be deemed fully paid.
Appears in 1 contract
Sources: Standard Terms and Conditions Agreement (Ford Credit Auto Receivables Corp)
Certificates Nonassessable and Fully Paid. The It is intended that Certificateholders shall not be personally liable for the obligations of the Trust. The interests represented by Trust and that the Certificates shall be nonassessable for any losses or expenses of the Trust or for any reason whatsoever, and, . Full payment for the purchase of the Certificates shall be deemed to have been made upon the authentication thereof by the Owner Trustee pursuant to Section 3.3, Section 3.4 or Section 3.5, the Certificates are and shall be deemed fully paid2.05.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Resource America Inc)
Certificates Nonassessable and Fully Paid. The Certificateholders shall not be personally liable for the obligations of the Trust. The interests represented by the Certificates shall be nonassessable for any losses or expenses of the Trust or for any reason whatsoever, and, 81 86 upon the authentication thereof by the Owner Trustee pursuant to Section 3.35.2, Section 3.4 or Section 3.5, the Certificates are and shall be deemed fully paid.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Onyx Acceptance Financial Corp)
Certificates Nonassessable and Fully Paid. The Certificateholders shall not be personally liable for the obligations of the Trust. The , the fractional undivided beneficial interests in the Trust represented by the Certificates shall be nonassessable for any losses or expenses of the Trust or for any reason whatsoever, and, and Certificates upon the authentication execution thereof by the Owner Trustee pursuant to Section 3.3, Section 3.4 or Section 3.5, the Certificates 3.3 are and shall be deemed fully paid; provided, however, that this Section 11.6 shall not affect in any way the terms set forth in Article VIII hereof.
Appears in 1 contract
Certificates Nonassessable and Fully Paid. The Certificateholders shall not be personally liable for the obligations of the Trust. The interests represented by the Certificates shall be nonassessable for any losses or expenses of the Trust or for any reason whatsoever, and, upon the authentication thereof by the Owner Trustee pursuant to Section 3.311.2 or 15.3, Section 3.4 or Section 3.5, the Certificates are and shall be deemed fully paid.
Appears in 1 contract