Common use of Liability of Grantor Clause in Contracts

Liability of Grantor. It is expressly agreed by Grantor that, anything herein to the contrary notwithstanding, Grantor shall remain liable under each Contract to observe and perform all the conditions and obligations to be observed and performed by it thereunder, all in accordance with and pursuant to the terms and provisions of each such Contract. Neither Trustee nor Beneficiary nor GE Capital nor the Owner Trustee shall have any obligation or liability under any Contract by reason of or arising out of this Deed of Trust or assignment to Trustee or Beneficiary of any payment relating to any Contract, nor shall Trustee or Beneficiary nor GE Capital nor the Owner Trustee be required or obligated in any manner to perform or fulfill any of the obligations of Grantor under or pursuant to any Contract, or to make any payment, or to make any inquiries as to the nature or the sufficiency of any payment received by it or the sufficiency of any performance by any party under any Contract, or to present or file any claim, or to take any action to collect or enforce any performance or the payment of any amounts which may have been assigned to it or to which it may be entitled at any time or times.