Common use of No Duties Except as Specified in Agreement or Instructions Clause in Contracts

No Duties Except as Specified in Agreement or Instructions. The Owner Trustee shall not have any duty or obligation to manage, service, perfect or maintain any security interest in, make any payment or collection in respect of, register, record, sell, dispose of or otherwise deal with the Collateral or any other part of the Trust Property, prepare or file any report or other document or to otherwise take or refrain from taking any action under, or in connection with, any document contemplated hereby to which the Trust is a party, except as expressly provided by the terms of this Agreement; and no implied duties or obligations shall be read into this Agreement against the Owner Trustee. The Bank nevertheless agrees that it shall, at its own cost and expense, promptly take any action necessary to discharge any liens on any part of the Trust Property or the Collateral which result from actions by or claims against the Bank that are not related to the ownership of the Collateral or any other part of the Trust Property or the administration of the Trust Property or the transactions contemplated by the Note Agreements.