Liability of Owners Sample Clauses

Liability of Owners. (a) The Depositor shall be liable directly to and will indemnify any injured party for all losses, claims, damages, liabilities and expenses of the Trust (including Expenses, to the extent not paid out of the Owner Trust Estate) to the extent that the Depositor would be liable if the Trust were a partnership under the Delaware Revised Uniform Limited Partnership Act in which the Depositor were a general partner; provided, however, that the Depositor shall not be liable for any losses incurred by a Certificateholder in the capacity of an investor in the Trust Certificates, or by a Noteholder in the capacity of an investor in the Notes. In addition, any third party creditors of the Trust (other than in connection with the obligations described in the preceding sentence for which the Depositor shall not be liable) shall be deemed third party beneficiaries of this paragraph. The obligations of the Depositor under this paragraph shall be evidenced by the Trust Certificates described in Section 3.10(a), which for purposes of the Business Trust Statute shall be deemed to be a separate class of Trust Certificates from all other Trust Certificates issued by the Trust; provided that the rights and obligations evidenced by all Trust Certificates, regardless of class, shall, except as provided in this Section and in Section 3.10(a), be identical. (b) No Certificateholder, other than to the extent set forth in paragraph (a), shall have any personal liability for any liability or obligation of the Trust.

Liability of Owners. (a) The Depositor shall be liable directly to and will indemnify any injured party for all losses, claims, damages, liabilities and expenses of the Trust (including Expenses, to the extent not paid out of the Owner Trust Estate) to the extent that the Depositor would be liable if the Trust were a partnership under the Delaware Revised Uniform Limited Partnership Act in which the Depositor were a general partner; provided, however, that the Depositor shall not be liable for any losses incurred by a Certificateholder in the capacity of an investor in the Trust Certificates, or by a Noteholder in the capacity of an investor in the Notes. In addition, any third party creditors of the Trust (other than in connection with the obligations described in the preceding sentence for which the Depositor shall not be liable) shall be deemed third party beneficiaries of this paragraph and paragraph (c) below. The obligations of the Depositor under this paragraph and paragraph (c) below shall be evidenced by the Trust Certificates described in Section 3.10, which for purposes of the Business Trust Statute shall be deemed to be a separate class of Trust Certificates from all other Trust Certificates issued by the Trust; provided that the rights and obligations evidenced by all Trust Certificates, regardless of class, shall, except as provided in this Section, be identical. (b) No Owner, other than to the extent set forth in paragraphs (a) and (c), shall have any personal liability for any liability or obligation of the Trust. (c) The Depositor agrees to be liable directly to and will indemnify any injured party for all losses, claims, damages, liabilities and expenses (other than those incurred by a Certificateholder in the capacity of an investor in the Trust Certificates and a Noteholder in the capacity of an investor in the Notes, as though such arrangements were partnerships under the Delaware Revised Uniform Limited Partnership Act in which the Depositor were a general partner.

Liability of Owners. (1) Subject to Subsection (2), where a person has a beneficial interest in a ship registered under this Act and that ship is registered in the name of some other person as owner, the person having the interest shall, as well as the registered owner, be subject to all pecuniary penalties imposed by this Act on the owners of 54 Section 45 Subsection (2) amended by No. 70 of 2006, s. 17.

Liability of Owners. (a) The General Partner shall be liable directly to and will indemnify the injured party for all losses, claims, damages, liabilities and expenses of the Issuer (to the extent that, if all amounts due on the Notes and Certificates were paid in full at the time such liability becomes due, the remaining assets of the Issuer would be insufficient to pay such amount) to the extent that the General Partner would be liable if the Issuer were a partnership under the Delaware Revised Uniform Limited Partnership Act in which the General Partner were a general partner; provided, however, that the General Partner shall not be liable for any losses incurred by a Certificateholder in the capacity of an investor in the Certificates or a Noteholder in the capacity of an investor in the Notes. In addition, any third party creditors of the Issuer (other than in connection with the obligations described in the preceding proviso for which the General Partner shall not be liable) shall be deemed third party beneficiaries of this paragraph. The obligations of the General Partner under this paragraph shall be evidenced by the Certificates described in Section 3.15, which for purposes of the Business Trust Statute shall be deemed to be a separate class of Certificates from all other Certificates issued by the Issuer; provided, however, that the rights and obligations evidenced by all Certificates, regardless of class, shall, except as provided in this Section, be identical. (b) No Certificateholder, other than to the extent set forth in subsection 2.10(a), shall have any personal liability for any liability or obligation of the Issuer.

Liability of Owners. (1) Subject to Subsection (2), where a person has a beneficial interest in a ship registered under this Act and that ship is registered in the name of some other person as owner, the person having the interest shall, as well as the registered owner, be subject to all pecuniary penalties imposed by this Act on the owners of ships, and proceedings may be taken for the enforcement of any such penalties against both or either of those persons, with or without joining the other of them. (2) Subsection (1) does not apply to a person having a beneficial interest by way of mortgage, except in the case of a mortgagee in possession of a ship.

Liability of Owners. The Residual Interestholder shall not have any personal liability for any liability or obligation of the Trust.

Liability of Owners. Each direct and indirect equity owner of Dealer identified in the Dealer Agreement agrees to be bound by the provisions of this Agreement and is personally liable to Aston ▇▇▇▇▇▇ for any and all damages arising from or out of fraud and payment for goods sold and delivered to Dealer. For purposes of the immediately preceding sentence, each direct and indirect equity owner of Dealer shall be deemed to have knowledge of all activities of Dealer and Dealer's employees.

Liability of Owners. The Certificateholders shall not have any personal liability for any liability or obligation of the Trust.

Liability of Owners. No Owner shall have any personal liability for any liability or obligation of the Trust.