Common use of Limitation on Obligations Clause in Contracts

Limitation on Obligations. Except as contemplated by this Agreement, the other Basic Documents and the Titling Trust Agreement, the Borrower will not issue, incur, assume, guarantee or otherwise become liable, directly or indirectly, for any indebtedness unless any such indebtedness will be limited in recourse to assets of the Borrower other than the Collateral.

Limitation on Obligations. Except as contemplated by this Agreement, the other Basic Documents and the Titling Trust AgreementCompany Agreement governing such Borrower, the no Borrower will not issue, incur, assume, guarantee or otherwise become liable, directly or indirectly, for endorse any indebtedness unless any such indebtedness will be limited in recourse to assets of the Borrower other than the Collateral.