Limitation of Liability of Issuer. The Issuer shall have no liability to the Servicer except for payment of the Servicing Fee and reimbursement of repossession and liquidation expenses. The Issuer shall have no obligation to indemnify the Servicer for costs or expenses, except with respect to the preceding sentence.
Appears in 5 contracts
Sources: Sale and Servicing Agreement (HSBC Automotive Trust (USA) 2006-3), Sale and Servicing Agreement (HSBC Automotive Trust (USA) 2006-1), Sale and Servicing Agreement (HSBC Auto Receivables Corp)