Common use of Limitation on Liability of the Issuer and Others Clause in Contracts

Limitation on Liability of the Issuer and Others. Neither the Issuer nor any of its directors, officers, employees or agents shall be under any liability to the Issuer or the Bondholders for any action taken or for refraining from the taking of any action in good faith pursuant to this Agreement, or for errors in judgment; provided, however, that this provision shall not protect the Issuer or any such Person against any breach of warranties or representations made herein, or against any liability which would otherwise be imposed by reason of misfeasance, bad faith or negligence in the performance of duties. The Issuer and any director, officer, employee or agent thereof may rely in good faith on any document of any kind which, prima facie, is properly executed and submitted by any Person respecting any matters arising hereunder. The Issuer shall not be under any obligation to appear in, prosecute or defend any legal action unless such action is related to its respective duties under this Agreement and in its opinion does not involve it in any expense or liability.

Limitation on Liability of the Issuer and Others. Neither the Issuer nor any of its directors, officers, trustees, managers, members, employees or agents shall be under any liability to the Issuer or the Bondholders for any action taken or for refraining from the taking of any action in good faith pursuant to this Servicing Agreement, or for errors in judgment; provided, however, that this provision shall not protect the Issuer or any such Person against any breach of warranties or representations made herein, or against any liability which would otherwise be imposed by reason of misfeasance, bad faith or gross negligence in the performance of duties. The Issuer and any director, officer, trustees, manager, member, employee or agent thereof may rely in good faith on any document of any kind which, prima facie, is properly executed and submitted by any Person respecting any matters arising hereunder. The Issuer shall not be under any obligation to appear in, prosecute or defend any legal claim or action unless such action is related to its respective duties under this Servicing Agreement and in its opinion does not involve it in any expense or liability.