No Duties Except as Specified in this Agreement or in Instructions. The Owner Trustee shall not have any duty or obligation to manage, make any payment with respect to, register, record, sell, dispose of, or otherwise deal with the Owner Trust Estate, or to otherwise take or refrain from taking any action under, or in connection with, any document contemplated hereby to which the Owner Trustee is a party, except as expressly provided by the terms of this Agreement or in any document or written instruction received by the Owner Trustee pursuant to Section 6.03; and no implied duties or obligations shall be read into this Agreement or any other Basic Document against the Owner Trustee. The Owner Trustee shall have no responsibility for filing any financing or continuation statement in any public office at any time or to otherwise perfect or maintain the perfection of any security interest or lien granted to it hereunder or to prepare or file any Commission filing for the Issuer or to record this Agreement or any other Basic Document, or to prepare or file any report for the Issuer to be made with the United States Department of Treasury (or any bureau thereof). The Owner Trustee nevertheless agrees that it will, at its own cost and expense, promptly take all action as may be necessary to discharge any liens (other than the lien of the Indenture) on any part of the Owner Trust Estate that result from actions by, or claims against, the Owner Trustee that are not related to the ownership or the administration of the Owner Trust Estate.
Appears in 14 contracts
Sources: Trust Agreement (Honda Auto Receivables 2025-3 Owner Trust), Trust Agreement (American Honda Receivables LLC), Trust Agreement (Honda Auto Receivables 2024-4 Owner Trust)
No Duties Except as Specified in this Agreement or in Instructions. The Owner Trustee shall not have any duty or obligation to manage, make any payment with respect to, register, record, sell, dispose of, or otherwise deal with the Owner Trust Estate, or to otherwise take or refrain from taking any action under, or in connection with, any document contemplated hereby to which the Owner Trustee is a party, except as expressly provided by the terms of this Agreement or in any document or written instruction received by the Owner Trustee pursuant to Section 6.03; and no implied duties or obligations shall be read into this Agreement or any other Basic Document against the Owner Trustee. The Owner Trustee shall have no responsibility for the preparation, correctness, accuracy, existence, validity or perfection of any financing statement (or similar filing) or for filing any financing or continuation statement (or similar filing) in any public office at any time or to otherwise perfect or maintain the perfection of any security interest or lien granted to it hereunder or to prepare or file any Securities and Exchange Commission filing for the Issuer Trust or to record this Agreement or any other Basic Document, or to prepare or file any report for the Issuer to be made with the United States Department of Treasury (or any bureau thereof). The Owner Trustee Trust Company nevertheless agrees that it will, at its own cost and expense, promptly take all action as may be necessary to discharge any liens (other than the lien of the Indenture) on any part of the Owner Trust Estate that result from actions by, or claims against, the Owner Trustee Trust Company that are not related to the Trust Company’s role as Owner Trustee or the ownership or the administration of the Owner Trust Estate.
Appears in 14 contracts
Sources: Trust Agreement (John Deere Receivables LLC), Trust Agreement (Deere John Capital Corp), Trust Agreement (John Deere Receivables LLC)
No Duties Except as Specified in this Agreement or in Instructions. The Owner Trustee shall not have any duty or obligation to manage, make any payment with respect to, register, record, sell, dispose of, or otherwise deal with the Owner Trust Estate, or to otherwise take or refrain from taking any action under, or in connection with, any document contemplated hereby to which the Owner Trustee is a party, except as expressly provided by the terms of this Agreement or in any document or written instruction received by the Owner Trustee pursuant to Section 6.03; and no implied duties or obligations shall be read into this Agreement or any other Basic Document against the Owner Trustee. The Owner Trustee shall have no responsibility for the preparation, correctness, accuracy, existence, validity or perfection of any financing statement (or similar filing) or for filing any financing or continuation statement (or similar filing) in any public office at any time or to otherwise perfect or maintain the perfection of any security interest or lien granted to it hereunder or to prepare or file any Securities and Exchange Commission filing for the Issuer Trust or to record this Agreement or any other Basic Document, or to prepare or file any report for the Issuer to be made with the United States Department of Treasury (or any bureau thereof). The Owner Trustee nevertheless agrees that it will, at its own cost and expense, promptly take all action as may be necessary to discharge any liens (other than the lien of the Indenture) on any part of the Owner Trust Estate that result from actions by, or claims against, the Owner Trustee that are not related to the ownership or the administration of the Owner Trust Estate.
Appears in 12 contracts
Sources: Trust Agreement (John Deere Owner Trust 2020), Trust Agreement (John Deere Owner Trust 2020), Trust Agreement (John Deere Owner Trust 2019-B)
No Duties Except as Specified in this Agreement or in Instructions. The Owner Trustee shall not have any duty or obligation to manage, make any payment with respect to, register, record, sell, dispose of, or otherwise deal with the Owner Trust Estate, or to otherwise take or refrain from taking any action under, or in connection with, any document contemplated hereby to which the Issuer or the Owner Trustee is a party, except as expressly provided by the terms of this Agreement or in any document or written instruction received by the Owner Trustee pursuant to Section 6.036.3; and no implied duties (including fiduciary duties existing at law or in equity) or obligations shall be read into this Agreement or any other Basic Transaction Document against the Owner Trustee. The Owner Trustee shall have no responsibility for the preparation, correctness, accuracy, existence, or filing of any financing or continuation statement in any public office at any time or to otherwise perfect the validity, existence, perfection or maintain maintenance of the perfection of any security interest or lien granted to it or to the Issuer hereunder or under any Transaction Document, nor shall the Owner Trustee have any responsibility to monitor the performance of any collateral, or to prepare or file any tax (subject to Section 5.3(a)), qualification to do business, license, Commission or other securities law filing, or other regulatory filing or report for the Issuer Issuer, or to record this Agreement or any other Basic Transaction Document, or to prepare or file any report for the Issuer to be made with the United States Department of Treasury (or any bureau thereof). The Owner Trustee Citibank nevertheless agrees that it will, at its own cost and expense, promptly take all action as may be necessary to discharge any liens (other than the lien of the Indenture) Liens on any part of the Owner Trust Estate that result from actions by, or claims against, the Owner Trustee Citibank that are not related to the ownership or the administration of the Owner Trust EstateEstate or the Issuer.
Appears in 10 contracts
Sources: Trust Agreement (Santander Drive Auto Receivables Trust 2024-4), Trust Agreement (Santander Drive Auto Receivables Trust 2024-4), Trust Agreement (Santander Drive Auto Receivables Trust 2024-2)
No Duties Except as Specified in this Agreement or in Instructions. The Owner Trustee shall not have any duty or obligation to manage, make any payment with respect to, register, record, sell, dispose of, or otherwise deal with the Owner Trust Estate, or to otherwise take or refrain from taking any action under, or in connection with, any document contemplated hereby to which the Owner Trustee is a party, except as expressly provided by the terms of this Agreement or in any document or written instruction received by the Owner Trustee pursuant to Section 6.03SECTION 5.3; and no implied duties or obligations shall be read into this Agreement or any other Basic Document against the Owner Trustee. The Owner Trustee shall have no responsibility for filing any financing or continuation statement in any public office at any time or to otherwise perfect or maintain the perfection of any security interest or lien granted to it hereunder or to prepare or file any Commission filing (including any filings required pursuant to the ▇▇▇▇▇▇▇▇-▇▇▇▇▇ Act of 2002 or any rule or regulation promulgated thereunder) for the Issuer Trust or to record this Agreement or any other Basic Document, or to prepare or file any report for the Issuer to be made with the United States Department of Treasury (or any bureau thereof). The Owner Trustee nevertheless agrees that it will, at its own cost and expense, promptly take all action as may be necessary to discharge any liens (other than the lien of the Indenture) Liens on any part of the Owner Trust Estate that result from actions by, or claims against, the Owner Trustee (solely in its individual capacity) and that are not related to the ownership or the administration of the Owner Trust Estate.
Appears in 4 contracts
Sources: Trust Agreement (UPFC Auto Receivables Trust 2006-B), Trust Agreement (UPFC Auto Receivables Trust 2007-B), Trust Agreement (UPFC Auto Receivables Trust 2007-A)
No Duties Except as Specified in this Agreement or in Instructions. The Owner Trustee shall not have any duty or obligation to manage, make any payment with respect to, register, record, sell, dispose of, or otherwise deal with the Owner Trust Estate, or to otherwise take or refrain from taking any action under, or in connection with, any document contemplated hereby to which the Issuer or the Owner Trustee is a party, except as expressly provided by the terms of this Agreement or in any document or written instruction received by the Owner Trustee pursuant to Section 6.036.3; and no implied duties (including fiduciary duties existing at law or in equity) or obligations shall be read into this Agreement or any other Basic Transaction Document against the Owner Trustee. The Owner Trustee shall have no responsibility for the preparation, correctness, accuracy, existence, or filing of any financing or continuation statement in any public office at any time or to otherwise perfect the validity, existence, perfection or maintain maintenance of the perfection of any security interest or lien granted to it or to the Issuer hereunder or under any Transaction Document, nor shall the Owner Trustee have any responsibility to monitor the performance of any collateral, or to prepare or file any tax (subject to Section 5.3(a)), qualification to do business, license, Commission or other securities law filing, or other regulatory filing or report for the Issuer Issuer, or to record this Agreement or any other Basic Transaction Document, or to prepare or file any report for the Issuer to be made with the United States Department of Treasury (or any bureau thereof). The Owner Trustee Wilmington Trust nevertheless agrees that it will, at its own cost and expense, promptly take all action as may be necessary to discharge any liens (other than the lien of the Indenture) Liens on any part of the Owner Trust Estate that result from actions by, or claims against, the Owner Trustee Wilmington Trust that are not related to the ownership or the administration of the Owner Trust EstateEstate or the Trust.
Appears in 4 contracts
Sources: Trust Agreement (Santander Drive Auto Receivables Trust 2019-3), Trust Agreement (Santander Drive Auto Receivables Trust 2019-3), Trust Agreement (Santander Drive Auto Receivables Trust 2019-1)
No Duties Except as Specified in this Agreement or in Instructions. The Neither the Owner Trustee nor the Trust Agent shall not have any duty or obligation to manage, make any payment with respect to, register, record, sell, dispose of, of or otherwise deal with the Owner Trust Estate, or to otherwise take or refrain from taking any action under, or in connection with, any document contemplated hereby to which the Owner Trustee or the Trust Agent, as applicable, is a party, except as expressly provided by the terms of this Agreement or in any document or written instruction received by the Owner Trustee or the Trust Agent, as applicable, pursuant to Section 6.01 or 6.03; and no implied duties or obligations shall be read into this Agreement or any other Basic Document against the Owner TrusteeTrustee or the Trust Agent. The Neither the Owner Trustee nor the Trust Agent shall have no any responsibility for filing any financing or continuation statement in any public office at any time or to otherwise perfect or maintain the perfection of any security interest or lien granted to it hereunder or to prepare or file with the Commission any Commission filing for the Issuer Trust or to record this Agreement or any other Basic Document, or to prepare or file any report for . Each of the Issuer to be made with the United States Department of Treasury (or any bureau thereof). The Owner Trustee and the Trust Agent nevertheless agrees that it will, at its own cost and expense, promptly take all action as may be necessary to discharge any liens (other than the lien of the Indenture) on any part of the Owner Trust Estate that result from actions by, or claims against, the Owner Trustee or the Trust Agent, as applicable, that are not related to the ownership or the administration of the Owner Trust EstateEstate or the Grant of any portion thereof to the Indenture Trustee pursuant to the Indenture.
Appears in 3 contracts
Sources: Trust Agreement (Onyx Acceptance Owner Trust 2005-A), Trust Agreement (Onyx Acceptance Owner Trust 2005-B), Trust Agreement (Onyx Acceptance Financial Corp)
No Duties Except as Specified in this Agreement or in Instructions. The Owner Trustee shall not have any duty or obligation to manage, make any payment with respect to, register, record, sell, dispose of, of or otherwise deal with the Owner Trust EstateAssets, or to otherwise take or refrain from taking any action under, or in connection with, any document contemplated hereby to which the Owner Trustee is a party, except as expressly provided by the terms of this Agreement (including Section 6.02) or in any document or written instruction received by the Owner Trustee pursuant to Article IV, the last sentence of Section 6.01 or Section 6.03; and no implied duties or obligations shall be read into this Agreement or any other Basic Trust Agreement Transaction Document against the Owner Trustee. The Owner Trustee shall have no responsibility for filing any financing or continuation statement in any public office at any time or to otherwise perfect or maintain the perfection of any security interest or lien granted to it hereunder or to prepare prepare, execute or file any Commission securities law filing (including any filings required by the ▇▇▇▇▇▇▇▇-▇▇▇▇▇ Act of 2002) for the Issuer Trust or to record this Agreement or any other Basic Trust Agreement Transaction Document, or to prepare or file any report for the Issuer to be made with the United States Department of Treasury (or any bureau thereof). The Owner Trustee nevertheless agrees that it will, at its own cost and expense, promptly take all action as may be necessary to discharge any liens (other than the lien of the Indenture) on any part of the Owner Trust Estate Assets that result from actions by, or claims against, the Owner Trustee Trustee, in its individual capacity, that are not related to the ownership or the administration of the Owner Trust EstateAssets or the transactions contemplated by the Trust Agreement Transaction Documents.
Appears in 3 contracts
Sources: Trust Agreement (Cit Equipment Collateral 2006-Vt2), Trust Agreement (CIT Equipment Collateral 2008-Vt1), Trust Agreement (Cit Funding Co, LLC)
No Duties Except as Specified in this Agreement or in Instructions. The Owner Trustee shall not have any duty or obligation to manage, make any payment with respect to, register, record, sell, dispose of, of or otherwise deal with the Owner Trust Estate, or to otherwise take or refrain from taking any action under, or in connection with, any document contemplated hereby to which the Owner Trustee is a party, except as expressly provided by the terms of this Agreement or in any document or written instruction received by the Owner Trustee pursuant to Section 6.03; and no implied duties or obligations shall be read into this Agreement or any other Basic Transaction Document against the Owner Trustee. The Owner Trustee shall have no responsibility for filing any financing or continuation statement in any public office at any time or to otherwise perfect or maintain the perfection of any security interest or lien granted to it hereunder or to prepare or file any Commission filing for the Issuer Trust or to record this Agreement or any other Basic Transaction Document, or which shall be the responsibility of the Servicer pursuant to prepare or file any report for the Issuer to be made with the United States Department of Treasury (or any bureau thereof)Transfer and Servicing Agreement. The Owner Trustee nevertheless agrees that it will, at its own cost and expense, promptly take all action as may be necessary to discharge any liens (other than the lien of the Indenture) on any part of the Owner Trust Estate that result from actions by, or claims against, the Owner Trustee in its individual capacity that are not related to the ownership or the administration of the Owner Trust Estate. The Owner Trustee has not participated in the preparation of the Offering Memorandum and shall not be liable to any Person on account of any statement therein or omission therefrom, except as to information furnished in writing to the Trust specifically for use in connection with the preparation of the Offering Memorandum or the admission to trading of the Offered Notes.
Appears in 3 contracts
Sources: Trust Agreement (American Capital Strategies LTD), Trust Agreement (American Capital Strategies LTD), Trust Agreement (American Capital Strategies LTD)
No Duties Except as Specified in this Agreement or in Instructions. The Owner Trustee shall not have any duty or obligation to manage, make any payment with respect to, register, record, sell, dispose of, or otherwise deal with the Owner Trust Estate, or to otherwise take or refrain from taking any action under, or in connection with, any document contemplated hereby to which the Owner Trustee Issuer is a party, except as expressly provided by the terms of this Agreement or in any document or written instruction received by the Owner Trustee pursuant to Section 6.035.3; and no implied duties or obligations shall be read into this Agreement or any other Basic Document against the Owner Trustee. The Owner Trustee shall have no responsibility for preparing or filing any financing or continuation statement in any public office at any time time, for the accuracy or correctness of any such statement or to otherwise perfect or maintain the perfection of any security interest or lien granted to it hereunder or the Issuer or to prepare or file any Commission filing (including any filings required pursuant to the ▇▇▇▇▇▇▇▇-▇▇▇▇▇ Act of 2002 or any rule or regulation promulgated thereunder), regulatory, or other filing (other than the Certificate of Trust and any amendment or cancellation thereof) or report for the Issuer Issuer, or to monitor or enforce the satisfaction of any risk retention, insurance, CTA or other regulatory requirements applicable to the Trust, its assets or its beneficial owners or to record this Agreement or any other Basic Document, or to prepare or file any report for the Issuer to be made with the United States Department of Treasury (or any bureau thereof). The Owner Trustee nevertheless agrees that it will, at its own cost and expense, promptly take all action as may be necessary to discharge any liens (other than the lien of the Indenture) Liens on any part of the Owner Trust Estate that result from actions by, or claims against, the Owner Trustee (solely in its individual capacity) and that are not related to the ownership or the administration of the Owner Trust Estate.
Appears in 2 contracts
Sources: Trust Agreement (Vroom, Inc.), Trust Agreement (Vroom, Inc.)
No Duties Except as Specified in this Agreement or in Instructions. The Owner Trustee shall not have any duty or obligation to manage, make any payment with respect to, register, record, sell, dispose of, or otherwise deal with the Owner Trust Estate, t[he Sub-Trust or the Sub-Trust Assets,] or to otherwise take or refrain from taking any action under, or in connection with, any document Basic Document or otherwise contemplated hereby to which the Owner Trustee is a party, except as expressly provided by the terms of this Agreement Agreement, any Basic Document to which the Trust is a party or in any document or written instruction received by the Owner Trustee pursuant to Section section 6.03; and no . No implied duties or obligations shall be read into this Agreement or any other Basic Document against the Owner Trustee. The Owner Trustee shall have no responsibility for filing any financing or continuation statement in any public office at any time or otherwise to otherwise perfect or maintain the perfection of any security interest or lien granted to it hereunder or to prepare or file any Securities and Exchange Commission filing for the Issuer Trust or to record this Agreement or any other Basic Document, or to prepare or file any report for the Issuer to be made with the United States Department of Treasury (or any bureau thereof). The Owner Trustee nevertheless agrees that it will, at its own cost and expense, promptly take all action as may be necessary to discharge any liens (other than the lien of the Indenture) on any part of the Owner Trust Estate that result from actions by, or claims against, the Owner Trustee that are not related to the ownership or the administration of the Owner Trust Estate.
Appears in 2 contracts
Sources: Trust Agreement (Toyota Motor Credit Corp), Trust Agreement (Toyota Motor Credit Corp)
No Duties Except as Specified in this Agreement or in Instructions. The Owner Trustee shall have no obligation or duty to monitor the Issuer’s obligations and duties under the 2024-A Basic Documents or to ensure its compliance with the terms thereof. The Owner Trustee shall not have any duty or obligation to manage, make any payment with respect to, register, record, sell, dispose of, or otherwise deal with the Owner Trust Estate, or to otherwise take or refrain from taking any action under, or in connection with, any document contemplated hereby to which the Owner Trustee or the Issuer is a party, except as expressly provided by the terms of this Agreement or in any document or written instruction received by the Owner Trustee pursuant to Section 6.03; and no implied duties or obligations shall be read into this Agreement or any other Basic Document against the Owner Trustee. The Owner Trustee shall have no responsibility for filing any financing or continuation statement or amendment in any public office at any time or to otherwise perfect or maintain the perfection of any security interest or lien granted to it hereunder hereunder, or preparing or filing any tax, qualification to prepare do business or file any Commission securities law filing or report for the Issuer or to record this Agreement or recording any other 2024-A Basic Document, or to prepare or file any report for the Issuer to be made with the United States Department of Treasury (or any bureau thereof). The Owner Trustee nevertheless agrees that it will, at its own cost and expense, promptly take all action as may be necessary to discharge any liens (other than the lien of the Indenture) Liens on any part of the Owner Trust Estate that result from actions by, or claims against, the Owner Trustee in its individual capacity that are not related to the ownership or the administration of the Owner Trust Estate.
Appears in 2 contracts
Sources: Trust Agreement (Mercedes-Benz Auto Lease Trust 2024-A), Trust Agreement (Mercedes-Benz Auto Lease Trust 2024-A)
No Duties Except as Specified in this Agreement or in Instructions. The Owner Trustee shall have no obligation or duty to monitor the Issuer’s obligations and duties under the 2024-B Basic Documents or to ensure its compliance with the terms thereof. The Owner Trustee shall not have any duty or obligation to manage, make any payment with respect to, register, record, sell, dispose of, or otherwise deal with the Owner Trust Estate, or to otherwise take or refrain from taking any action under, or in connection with, any document contemplated hereby to which the Owner Trustee or the Issuer is a party, except as expressly provided by the terms of this Agreement or in any document or written instruction received by the Owner Trustee pursuant to Section 6.03; and no implied duties or obligations shall be read into this Agreement or any other Basic Document against the Owner Trustee. The Owner Trustee shall have no responsibility for filing any financing or continuation statement or amendment in any public office at any time or to otherwise perfect or maintain the perfection of any security interest or lien granted to it hereunder hereunder, or preparing or filing any tax, qualification to prepare do business or file any Commission securities law filing or report for the Issuer or to record this Agreement or recording any other 2024-B Basic Document, or to prepare or file any report for the Issuer to be made with the United States Department of Treasury (or any bureau thereof). The Owner Trustee nevertheless agrees that it will, at its own cost and expense, promptly take all action as may be necessary to discharge any liens (other than the lien of the Indenture) Liens on any part of the Owner Trust Estate that result from actions by, or claims against, the Owner Trustee in its individual capacity that are not related to the ownership or the administration of the Owner Trust Estate.
Appears in 2 contracts
Sources: Trust Agreement (Mercedes-Benz Auto Lease Trust 2024-B), Trust Agreement (Mercedes-Benz Auto Lease Trust 2024-B)
No Duties Except as Specified in this Agreement or in Instructions. The Owner Trustee shall not have any duty or obligation to manage, make any payment with respect to, register, record, sell, dispose of, or otherwise deal with the Owner Trust EstateProperty, or to otherwise take or refrain from taking any action under, or in connection with, any document contemplated hereby to which the Owner Trustee is a party, except as expressly provided by the terms of this Agreement or in any document or written instruction received by the Owner Trustee pursuant to Section 6.036.3; and no implied duties (including fiduciary duties existing at law or in equity) or obligations shall be read into this Agreement or any other Basic Document against the Owner Trustee, all such implied duties or obligations being hereby eliminated. The Owner Trustee shall have no responsibility for filing any financing or continuation statement in any public office at any time or to otherwise perfect or maintain the perfection of any security interest or lien granted to it hereunder or to prepare any securities law filing (including any filing with the Securities and Exchange Commission) or (except as directed in writing by the Board of the Administrator if required by applicable law) file any Commission filing for tax, qualification to do business, license, application, report or filing, or to monitor or enforce the Issuer satisfaction of any risk retention requirements or to record this Agreement or any other Basic Document, or to prepare or file any report for the Issuer to be made with the United States Department of Treasury (or any bureau thereof). The Owner Trustee nevertheless agrees that it will, at its own cost and expense, promptly take all action as may be necessary to discharge any liens (other than the lien of the Indenture) Liens on any part of the Owner Trust Estate Property that result from actions by, or claims against, the Owner Trustee U.S. Bank Trust National Association (solely in its individual capacity) and that are not related to the ownership or the administration of the Owner Trust EstateProperty.
Appears in 2 contracts
Sources: Trust Agreement (Credit Acceptance Corp), Trust Agreement (Credit Acceptance Corp)
No Duties Except as Specified in this Agreement or in Instructions. The Owner Trustee shall not have any duty or obligation to manage, make any payment with respect to, register, record, sell, dispose of, or otherwise deal with the Owner Trust Estate, or to otherwise take or refrain from taking any action under, or in connection with, any document contemplated hereby to which the Issuer or the Owner Trustee is a party, except as expressly provided by the terms of this Agreement or in any document or written instruction received by the Owner Trustee pursuant to Section 6.036.3; and no implied duties (including fiduciary duties existing at law or in equity) or obligations shall be read into this Agreement or any other Basic Transaction Document against the Owner Trustee. The Owner Trustee shall have no responsibility for filing any financing or continuation statement or amendment in any public office at any time or to otherwise perfect or maintain the perfection of any security interest or lien ▇▇▇▇ granted to it hereunder or to prepare or or file any Commission filing (including any filings required under the ▇▇▇▇▇▇▇▇-▇▇▇▇▇ Act), for the Issuer or to record this Agreement or any other Basic Transaction Document, or to prepare or file any report for the Issuer to be made with the United States Department of Treasury (or any bureau thereof). The Owner Trustee nevertheless agrees that it will, at its own cost and expense, promptly take all action as may be necessary to discharge any liens (other than the lien of the Indenture) Liens on any part of the Owner Trust Estate that result from actions by, or claims against, the Owner Trustee that are not related to the ownership or the administration of the Trust Estate. The Owner Trustee shall have no responsibility or liability for or with respect to the genuineness, value, sufficiency or validity of the Trust Estate.
Appears in 2 contracts
Sources: Trust Agreement, Trust Agreement
No Duties Except as Specified in this Agreement or in Instructions. The Owner Trustee shall have no obligation or duty to monitor the Issuer’s obligations and duties under the 2020-B Basic Documents or to ensure its compliance with the terms thereof. The Owner Trustee shall not have any duty or obligation to manage, make any payment with respect to, register, record, sell, dispose of, or otherwise deal with the Owner Trust Estate, or to otherwise take or refrain from taking any action under, or in connection with, any document contemplated hereby to which the Owner Trustee or the Issuer is a party, except as expressly provided by the terms of this Agreement or in any document or written instruction received by the Owner Trustee pursuant to Section 6.03; and no implied duties or obligations shall be read into this Agreement or any other Basic Document against the Owner Trustee. The Owner Trustee shall have no responsibility for filing any financing or continuation statement or amendment in any public office at any time or to otherwise perfect or maintain the perfection of any security interest or lien granted to it hereunder hereunder, or preparing or filing any tax, qualification to prepare do business or file any Commission securities law filing or report for the Issuer or to record this Agreement or recording any other 2020-B Basic Document, or to prepare or file any report for the Issuer to be made with the United States Department of Treasury (or any bureau thereof). The Owner Trustee nevertheless agrees that it will, at its own cost and expense, promptly take all action as may be necessary to discharge any liens (other than the lien of the Indenture) Liens on any part of the Owner Trust Estate that result from actions by, or claims against, the Owner Trustee in its individual capacity that are not related to the ownership or the administration of the Owner Trust Estate.
Appears in 2 contracts
Sources: Trust Agreement (Mercedes-Benz Auto Lease Trust 2020-B), Trust Agreement (Mercedes-Benz Auto Lease Trust 2020-B)
No Duties Except as Specified in this Agreement or in Instructions. The Owner Trustee shall not have any duty or obligation to manage, make any payment with respect to, register, record, sell, dispose of, of or otherwise deal with the Owner Trust EstateAssets, or to otherwise take or refrain from taking any action under, or in connection with, any document contemplated hereby to which the Owner Trustee is a party, except as expressly provided by the terms of this Agreement (including Section 6.02) or in any document or written instruction received by the Owner Trustee pursuant to Article IV, the last sentence of Section 6.01 or Section 6.03; and no implied duties or obligations shall be read into this Agreement or any other Basic Transaction Document against the Owner Trustee. The Owner Trustee shall have no responsibility for filing any financing or continuation statement in any public office at any time or to otherwise perfect or maintain the perfection of any security interest or lien granted to it hereunder or to prepare prepare, execute or file any Commission securities law filing (including any filings required by the ▇▇▇▇▇▇▇▇-▇▇▇▇▇ Act of 2002) for the Issuer Trust or to record this Agreement or any other Basic Transaction Document, or to prepare or file any report for the Issuer to be made with the United States Department of Treasury (or any bureau thereof). The Owner Trustee nevertheless agrees that it will, at its own cost and expense, promptly take all action as may be necessary to discharge any liens (other than the lien of the Indenture) on any part of the Owner Trust Estate Assets that result from actions by, or claims against, the Owner Trustee Trustee, in its individual capacity, that are not related to the ownership or the administration of the Owner Trust EstateAssets or the transactions contemplated by the Transaction Documents.
Appears in 2 contracts
Sources: Trust Agreement (NCT Funding Co LLC), Trust Agreement (Cit Equipment Collateral 2004-Vt1)
No Duties Except as Specified in this Agreement or in Instructions. The Owner Trustee shall not have any duty or obligation to manage, make any payment with respect to, register, record, sell, dispose of, or otherwise deal with the Owner Trust Estate, or to otherwise take or refrain from taking any action under, or in connection with, any document contemplated hereby to which the Issuer or the Owner Trustee is a party, except as expressly provided by the terms of this Agreement or in any document or written instruction received by the Owner Trustee pursuant to Section 6.036.3; and no implied duties (including fiduciary duties existing at law or in equity) or obligations shall be read into this Agreement or any other Basic Transaction Document against the Owner Trustee. The Owner Trustee shall have no responsibility for the preparation, correctness, accuracy, existence, or filing of any financing or continuation statement in any public office at any time or to otherwise perfect the validity, existence, perfection or maintain maintenance of the perfection of any security interest or lien granted to it or to the Issuer hereunder or under any Transaction Document, nor shall the Owner Trustee have any responsibility to monitor the performance of any collateral, or to prepare or file any tax (subject to Section 5.3(a)), qualification to do business, license, Commission or other securities law filing, or other regulatory filing or report for the Issuer Issuer, or to record this Agreement or any other Basic Transaction Document, or to prepare or file any report for the Issuer to be made with the United States Department of Treasury (or any bureau thereof). The Owner Trustee [______] nevertheless agrees that it will, at its own cost and expense, promptly take all action as may be necessary to discharge any liens (other than the lien of the Indenture) Liens on any part of the Owner Trust Estate that result from actions by, or claims against, the Owner Trustee [______] that are not related to the ownership or the administration of the Owner Trust EstateEstate or the Issuer.
Appears in 1 contract
Sources: Trust Agreement (Santander Drive Auto Receivables LLC)
No Duties Except as Specified in this Agreement or in Instructions. The Neither the Owner Trustee nor the Trust Agent shall not have any duty or obligation to manage, make any payment with respect to, register, record, sell, dispose of, of or otherwise deal with the Owner Trust Estate, or to otherwise take or refrain from taking any action under, or in connection with, any document contemplated hereby to which the Owner Trustee or the Trust Agent, as applicable, is a party, except as expressly provided by the terms of this Agreement or in any document or written instruction received by the Owner Trustee or the Trust Agent, as applicable, pursuant to Section 6.03; and no implied duties or obligations shall be read into this Agreement or any other Basic Document against the Owner TrusteeTrustee or the Trust Agent. The Neither the Owner Trustee nor the Trust Agent shall have no any responsibility for filing any financing or continuation statement in any public office at any time or to otherwise perfect or maintain the perfection of any security interest or lien granted to it hereunder or to prepare or file any Commission filing for the Issuer Trust or to record this Agreement or any other Basic Document, or to prepare or file any report for . Each of the Issuer to be made with the United States Department of Treasury (or any bureau thereof). The Owner Trustee and the Trust Agent nevertheless agrees that it will, at its own cost and expense, promptly take all action as may be necessary to discharge any liens (other than the lien of the Indenture) on any part of the Owner Trust Estate that result from actions by, or claims against, by the Owner Trustee or the Trust Agent, as applicable, that are not related to the ownership or the administration of the Owner Trust EstateEstate or the Grant of any portion thereof to the Indenture Trustee pursuant to the Indenture.
Appears in 1 contract
No Duties Except as Specified in this Agreement or in Instructions. The Owner Trustee shall not have any duty or obligation to manage, make any payment with respect to, register, record, sell, dispose of, or otherwise deal with the Owner Trust Estate, or to otherwise take or refrain from taking any action under, or in connection with, any document contemplated hereby to which the Issuer or the Owner Trustee is a party, except as expressly provided by the terms of this Agreement or in any document or written instruction received by the Owner Trustee pursuant to Section 6.036.3; and no implied duties (including fiduciary duties existing at law or in equity) or obligations shall be read into this Agreement or any other Basic Transaction Document against the Owner Trustee. The Owner Trustee shall have no responsibility for filing any financing or continuation statement in any public office at any time or to otherwise perfect or maintain the perfection of any security interest or lien Lien granted to it hereunder or to prepare or file any Commission filing (including any filings required under the ▇▇▇▇▇▇▇▇-▇▇▇▇▇ Act), for the Issuer or to record this Agreement or any other Basic Transaction Document, or to prepare or file any report for the Issuer to be made with the United States Department of Treasury (or any bureau thereof). The Owner Trustee Citibank nevertheless agrees that it will, at its own cost and expense, promptly take all action as may be necessary to discharge any liens (other than the lien of the Indenture) Liens on any part of the Owner Trust Estate that result from actions by, or claims against, the Owner Trustee Citibank that are not related to the ownership or the administration of the Trust Estate. The Owner Trustee shall have no responsibility or liability for or with respect to the genuineness, value, sufficiency or validity of the Trust Estate.
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No Duties Except as Specified in this Agreement or in Instructions. The Owner Trustee shall not have any duty or obligation to manage, make any payment with respect to, register, record, sell, dispose of, or otherwise deal with the Owner Trust Estate, or to otherwise take or refrain from taking any action under, or in connection with, any document contemplated hereby Basic Document to which the Owner Trustee is a partyparty or otherwise contemplated hereby, except as expressly provided by the terms of this Agreement Agreement, any Basic Document to which the Trust is a party or in any document or written instruction received by the Owner Trustee pursuant to Section 6.03; and no . No implied duties or obligations shall be read into this Agreement or any other Basic Document against the Owner Trustee. The Owner Trustee shall have no responsibility for filing any financing or continuation statement in any public office at any time or otherwise to otherwise perfect or maintain the perfection of any security interest or lien granted to it hereunder or to prepare or file any Securities and Exchange Commission filing for the Issuer Trust or to record this Agreement or any other Basic Document. Notwithstanding anything to the contrary herein or in any Basic Document, the Owner Trustee shall not be required to execute, deliver or to prepare or file any report for certify on behalf of the Issuer to be made with the United States Department of Treasury (Trust or any bureau thereof)other Person any filings, certificates, affidavits or other instruments required under the S▇▇▇▇▇▇▇-▇▇▇▇▇ Act of 2002, to the extent permitted by applicable law. The Owner Trustee nevertheless agrees that it will, at its own cost and expense, promptly take all action as may be necessary to discharge any liens (other than the lien of the Indenture) on any part of the Owner Trust Estate that result from actions by, or claims against, the Owner Trustee that are not related to the ownership or the administration of the Owner Trust Estate.. 20 (Nissan 2006-A
Appears in 1 contract
Sources: Trust Agreement (Nissan Auto Receivables 2006-a Owner Trust)
No Duties Except as Specified in this Agreement or in Instructions. The Owner Trustee shall not have any duty or obligation to manage, make any payment with respect to, register, record, sell, dispose of, or otherwise deal with the Owner Trust Estate, or to otherwise take or refrain from taking any action under, or in connection with, the Transaction Documents or any document contemplated hereby to which the Owner Trustee is a partyor thereby, except as expressly provided by the terms of this Trust Agreement or in any document or written instruction received by the Owner Trustee pursuant to Section 6.03; and no implied duties or obligations shall be read into this Trust Agreement or any other Basic Transaction Document against the Owner Trustee. The Except as may be expressly provided in any Transaction Document, the Owner Trustee shall have no responsibility for filing any financing or continuation statement in any public office at any time or to otherwise perfect or maintain the perfection of any security interest or lien granted to it hereunder or to prepare or file any Securities and Exchange Commission filing for the Issuer Trust or to record this Trust Agreement or any other Basic Transaction Document, or to prepare or file any report for the Issuer to be made with the United States Department of Treasury (or any bureau thereof). The Owner Trustee Trust Company nevertheless agrees that it will, at its own cost and expense, promptly take all action as may be necessary to discharge any liens (other than the lien of the Indenture) on any part of the Owner Trust Estate that result from actions by, or claims against, the Owner Trustee Trust Company that are not related to the Trust, this Trust Agreement, the Trust Company’s serving as Owner Trustee or the ownership or the administration of the Owner Trust Estate.
Appears in 1 contract
Sources: Trust Agreement (MCG Capital Corp)
No Duties Except as Specified in this Agreement or in Instructions. The Neither the Owner Trustee nor the Trust Agent shall not have any duty or obligation to manage, make any payment with respect to, register, record, sell, dispose of, of or otherwise deal with the Owner Trust Estate, or to otherwise take or refrain from taking any action under, or in connection with, any document contemplated hereby to which the Owner Trustee or the Trust Agent, as applicable, is a party, except as expressly provided by the terms of this Agreement or in any document or written instruction received by the Owner Trustee or the Trust Agent, as applicable, pursuant to Section 6.03; and no implied duties or obligations shall be read into this Agreement or any other Basic Document against the Owner TrusteeTrustee or the Trust Agent. The Neither the Owner Trustee nor the Trust Agent shall have no any responsibility for filing any financing or continuation statement in any public office at any time or to otherwise perfect or maintain the perfection of any security interest or lien granted to it hereunder or to prepare or file with the Commission any Commission filing for the Issuer Trust or to record this Agreement or any other Basic Document, or to prepare or file any report for . Each of the Issuer to be made with the United States Department of Treasury (or any bureau thereof). The Owner Trustee and the Trust Agent nevertheless agrees that it will, at its own cost and expense, promptly take all action as may be necessary to discharge any liens (other than the lien of the Indenture) on any part of the Owner Trust Estate that result from actions by, or claims against, the Owner Trustee or the Trust Agent, as applicable, that are not related to the ownership or the administration of the Owner Trust EstateEstate or the Grant of any portion thereof to the Indenture Trustee pursuant to the Indenture.
Appears in 1 contract
No Duties Except as Specified in this Agreement or in Instructions. The Owner Trustee shall not have any duty or obligation to manage, make any payment with respect to, register, record, sell, dispose of, or otherwise deal with the Owner Trust Estate, or to otherwise take or refrain from taking any action under, or in connection with, any document contemplated hereby Basic Document to which the Owner Trustee is a partyparty or otherwise contemplated hereby, except as 20 (NAROT 20[ ]-[ ] Amended & Restated Trust Agreement) expressly provided by the terms of this Agreement Agreement, any Basic Document to which the Issuer is a party or in any document or written instruction received by the Owner Trustee pursuant to Section 6.03; and no . No implied duties or obligations shall be read into this Agreement or any other Basic Document against the Owner Trustee. The Owner Trustee shall have no responsibility for filing any financing or continuation statement in any public office at any time or otherwise to otherwise perfect or maintain the perfection of any security interest or lien granted to it hereunder or to prepare or file any Securities and Exchange Commission filing for the Issuer or to record this Agreement or any other Basic Document. Notwithstanding anything to the contrary herein or in any Basic Document, the Owner Trustee shall not be required to execute, deliver or to prepare or file any report for certify on behalf of the Issuer to be made with the United States Department of Treasury (or any bureau thereof)other Person any filings, certificates, affidavits or other instruments required under the ▇▇▇▇▇▇▇▇-▇▇▇▇▇ Act of 2002, to the extent permitted by applicable law. The Owner Trustee nevertheless agrees that it will, at its own cost and expense, promptly take all action as may be necessary to discharge any liens (other than the lien of the Indenture) on any part of the Owner Trust Estate that result from actions by, or claims against, the Owner Trustee that are not related to the ownership or the administration of the Owner Trust Estate.
Appears in 1 contract
Sources: Trust Agreement (NISSAN AUTO RECEIVABLES Co II LLC)
No Duties Except as Specified in this Agreement or in Instructions. The Owner Trustee shall not have any duty or obligation to manage, make any payment with respect to, register, record, sell, dispose of, or otherwise deal with the Owner Trust Estate, or to otherwise take or refrain from taking any action under, or in connection with, any document contemplated hereby to which the Issuer or the Owner Trustee is a party, except as expressly provided by the terms of this Agreement or in any document or written instruction received by the Owner Trustee pursuant to Section 6.036.3; and no implied duties (including fiduciary duties existing at law or in equity) or obligations shall be read into this Agreement or any other Basic Transaction Document against the Owner Trustee. The Owner Trustee shall have no responsibility for the preparation, correctness, accuracy, existence, or filing of any financing or continuation statement in any public office at any time or to otherwise perfect the validity, existence, perfection or maintain maintenance of the perfection of any security interest or lien granted to it or to the Issuer hereunder or under any Transaction Document, nor shall the Owner Trustee have any responsibility to monitor the performance of any collateral, or to prepare or file any tax (subject to Section 5.3(a)), qualification to do business, license, Commission or other securities law filing, or other regulatory filing or report for the Issuer Issuer, or to record this Agreement or any other Basic Transaction Document, or to prepare or file any report for the Issuer to be made with the United States Department of Treasury (or any bureau thereof). The Owner Trustee [ ] nevertheless agrees that it will, at its own cost and expense, promptly take all action as may be necessary to discharge any liens (other than the lien of the Indenture) Liens on any part of the Owner Trust Estate that result from actions by, or claims against, the Owner Trustee [ ] that are not related to the ownership or the administration of the Owner Trust EstateEstate or the Trust.
Appears in 1 contract
Sources: Trust Agreement (Santander Drive Auto Receivables LLC)