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

No Duties Except as Specified in this Agreement or in Instructions. The Owner Trustee shall undertake to perform such duties and only such duties as are specifically set forth in this Agreement and the other Basic Documents, and no implied covenants or obligations shall be read into this Agreement or the other Basic Documents. 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 6.3; and no implied duties or obligations shall be read into this Agreement or any 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. 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 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 4 contracts

Sources: Trust Agreement (JPMorgan Chase Bank, National Association), Trust Agreement (Chase Auto Owner Trust 2005-B), Trust Agreement (Chase Auto Owner Trust 2005-A)

No Duties Except as Specified in this Agreement or in Instructions. The Owner Trustee shall undertake to perform such duties and only such duties as are specifically set forth in this Agreement and the other Basic Documents, and no implied covenants or obligations shall be read into this Agreement or the other Basic Documents. 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 6.35.3; 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 for the Issuer Owner Trust with the Securities and Exchange Commission or to record this Agreement or any other Basic Document. 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 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 3 contracts

Sources: Trust Agreement (Target Credit Card Owner Trust 2005-1), Trust Agreement (Chase Manhattan Bank Usa Chase Credit Card Owner Tr 2000-2), Trust Agreement (Chase Manhattan Bank Usa Chase Credit Card Owner Tr 1999-3)

No Duties Except as Specified in this Agreement or in Instructions. The Owner Trustee shall undertake to perform such duties and only such duties as are specifically set forth in this Agreement and the other Basic Documents, and no implied covenants or obligations shall be read into this Agreement or the other Basic Documents. The Owner Underlying 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 Underlying Trust is a party, except as expressly provided by the terms of this Agreement or in any document or written instruction received by the Owner Underlying Trustee pursuant to Section 6.3; and no implied duties or obligations shall be read into this Agreement or any Basic other Transaction Document against the Owner Underlying Trustee. The Owner Underlying Trustee shall have no responsibility for (a) filing any tax or securities law filing (but shall prepare and deliver to the Settlor such information as is necessary for the preparation, signing and filing on behalf of the Underlying Trust any tax or information returns) or (b) 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 Transaction Document. The Owner Trustee [_________________] in its individual capacity nevertheless agrees that it will, at its own cost and expense, promptly take all action as may be necessary to discharge any Liens on any part of the Owner Trust Estate that result from actions by, or claims against, [_________________] or the Owner Trustee, in its individual capacity, Underlying Trustee that are not related to the ownership or the administration of the Owner Trust Estate.

Appears in 3 contracts

Sources: Trust Agreement (Harley-Davidson Customer Funding Corp.), Trust Agreement (Harley-Davidson Customer Funding Corp.), Trust Agreement (Harley-Davidson Customer Funding Corp.)

No Duties Except as Specified in this Agreement or in Instructions. The Owner Trustee shall undertake have no obligation or duty to perform such monitor the Issuer’s obligations and duties and only such duties as are specifically set forth in this Agreement and under the other 2019-A Basic Documents, and no implied covenants Documents or obligations shall be read into this Agreement or to ensure its compliance with the other Basic Documentsterms 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 6.3; and no implied duties or obligations shall be read into this Agreement or any Basic Document against the Owner Trustee6.03. 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 2019-A Basic Document. 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 on any part of the Owner Trust Estate that result from actions by, or claims against, the Owner Trustee, Trustee in its individual capacity, 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 2019-A), Trust Agreement (Mercedes-Benz Auto Lease Trust 2019-A)

No Duties Except as Specified in this Agreement or in Instructions. The Owner Trustee shall undertake have no obligation or duty to perform such monitor the Issuer’s obligations and duties and only such duties as are specifically set forth in this Agreement and under the other 2025-B Basic Documents, and no implied covenants Documents or obligations shall be read into this Agreement or to ensure its compliance with the other Basic Documentsterms 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 6.3; and no implied duties or obligations shall be read into this Agreement or any Basic Document against the Owner Trustee6.03. 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 2025-B Basic Document. 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 on any part of the Owner Trust Estate that result from actions by, or claims against, the Owner Trustee, Trustee in its individual capacity, 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 2025-B), Trust Agreement (Mercedes-Benz Auto Lease Trust 2025-B)

No Duties Except as Specified in this Agreement or in Instructions. The Owner Trustee shall undertake have no obligation or duty to perform such monitor the Issuer’s obligations and duties and only such duties as are specifically set forth in this Agreement and under the other 2021-A Basic Documents, and no implied covenants Documents or obligations shall be read into this Agreement or to ensure its compliance with the other Basic Documentsterms 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 6.3; and no implied duties or obligations shall be read into this Agreement or any Basic Document against the Owner Trustee6.03. 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 2021-A Basic Document. 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 on any part of the Owner Trust Estate that result from actions by, or claims against, the Owner Trustee, Trustee in its individual capacity, 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 2021-A), Trust Agreement (Mercedes-Benz Auto Lease Trust 2021-A)

No Duties Except as Specified in this Agreement or in Instructions. The Owner Trustee shall undertake have no obligation or duty to perform such monitor the Issuer’s obligations and duties and only such duties as are specifically set forth in this Agreement and under the other 2025-A Basic Documents, and no implied covenants Documents or obligations shall be read into this Agreement or to ensure its compliance with the other Basic Documentsterms 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 6.3; and no implied duties or obligations shall be read into this Agreement or any Basic Document against the Owner Trustee6.03. 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 2025-A Basic Document. 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 on any part of the Owner Trust Estate that result from actions by, or claims against, the Owner Trustee, Trustee in its individual capacity, 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 2025-A), Trust Agreement (Mercedes-Benz Auto Lease Trust 2025-A)

No Duties Except as Specified in this Agreement or in Instructions. The Owner Trustee shall undertake have no obligation or duty to perform such monitor the Issuer’s obligations and duties and only such duties as are specifically set forth in this Agreement and under the other 2019-B Basic Documents, and no implied covenants Documents or obligations shall be read into this Agreement or to ensure its compliance with the other Basic Documentsterms 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 6.3; and no implied duties or obligations shall be read into this Agreement or any Basic Document against the Owner Trustee6.03. 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 2019-B Basic Document. 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 on any part of the Owner Trust Estate that result from actions by, or claims against, the Owner Trustee, Trustee in its individual capacity, 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 2019-B), Trust Agreement (Mercedes-Benz Auto Lease Trust 2019-B)

No Duties Except as Specified in this Agreement or in Instructions. The Owner Trustee shall undertake have no obligation or duty to perform such monitor the Issuer’s obligations and duties and only such duties as are specifically set forth in this Agreement and under the other 2020-B Basic Documents, and no implied covenants Documents or obligations shall be read into this Agreement or to ensure its compliance with the other Basic Documentsterms 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 6.3; and no implied duties or obligations shall be read into this Agreement or any Basic Document against the Owner Trustee6.03. 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. 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 on any part of the Owner Trust Estate that result from actions by, or claims against, the Owner Trustee, Trustee in its individual capacity, 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 undertake to perform such duties and only such duties as are specifically set forth in this Agreement and the other Basic Documents, and no implied covenants or obligations shall be read into this Agreement or the other Basic Documents. 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 6.3; 6.03. The Owner Trustee shall not have any implied duties (including fiduciary duties) or liabilities otherwise existing at law or in equity with respect to the Trust, which implied duties are hereby eliminated, and no implied duties or obligations shall be read into this Agreement or any 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 Securities and Exchange Commission filing for the Issuer Trust or to record this Agreement or any other Basic Document. 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 liens on any part of the Owner Trust Estate that result from actions by, or claims against, the Owner Trustee, in its individual capacity, Trustee that are not related to the ownership or the administration of the Owner Trust Estate.

Appears in 2 contracts

Sources: Trust Agreement (Chrysler Financial Auto Securitization Trust 2009-B), Trust Agreement (Chrysler Financial Services Americas LLC)

No Duties Except as Specified in this Agreement or in Instructions. The Owner Trustee shall undertake have no obligation or duty to perform such monitor the Issuer’s obligations and duties and only such duties as are specifically set forth in this Agreement and under the other 2023-A Basic Documents, and no implied covenants Documents or obligations shall be read into this Agreement or to ensure its compliance with the other Basic Documentsterms 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 6.3; and no implied duties or obligations shall be read into this Agreement or any Basic Document against the Owner Trustee6.03. 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 2023-A Basic Document. 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 on any part of the Owner Trust Estate that result from actions by, or claims against, the Owner Trustee, Trustee in its individual capacity, 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 2023-A), Trust Agreement (Mercedes-Benz Auto Lease Trust 2023-A)

No Duties Except as Specified in this Agreement or in Instructions. The Owner Trustee shall undertake have no obligation or duty to perform such monitor the Issuer’s obligations and duties and only such duties as are specifically set forth in this Agreement and under the other 2024-A Basic Documents, and no implied covenants Documents or obligations shall be read into this Agreement or to ensure its compliance with the other Basic Documentsterms 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 6.3; and no implied duties or obligations shall be read into this Agreement or any Basic Document against the Owner Trustee6.03. 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. 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 on any part of the Owner Trust Estate that result from actions by, or claims against, the Owner Trustee, Trustee in its individual capacity, 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 undertake have no obligation or duty to perform such monitor the Issuer’s obligations and duties and only such duties as are specifically set forth in this Agreement and under the other 2024-B Basic Documents, and no implied covenants Documents or obligations shall be read into this Agreement or to ensure its compliance with the other Basic Documentsterms 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 6.3; and no implied duties or obligations shall be read into this Agreement or any Basic Document against the Owner Trustee6.03. 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. 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 on any part of the Owner Trust Estate that result from actions by, or claims against, the Owner Trustee, Trustee in its individual capacity, 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 undertake to perform such duties and only such duties as are specifically set forth in this Agreement and the other Basic Transaction Documents, and no implied covenants or obligations shall be read into this Agreement or the other Basic Transaction Documents. The Owner Trustee shall not have any duty or obligation to manage, make any payment with respect to, register, record, sell, service, 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 6.36.3 hereof; and no implied duties or obligations shall be read into this Agreement or any Basic other 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 or to record this Agreement or any other Basic Transaction Document. 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 on any part of the Owner Trust Estate that result from actions by, or claims against, the Owner Trustee, Trustee in its individual capacity, capacity that are not related to the ownership or the administration of the Owner Trust Estate.

Appears in 2 contracts

Sources: Trust Agreement (Collegiate Funding of Delaware LLC), Trust Agreement (Chase Education Loan Trust 2007-A)

No Duties Except as Specified in this Agreement or in Instructions. The Owner Trustee shall undertake have no obligation or duty to perform such monitor the Issuer’s obligations and duties and only such duties as are specifically set forth in this Agreement and under the other 2020-A Basic Documents, and no implied covenants Documents or obligations shall be read into this Agreement or to ensure its compliance with the other Basic Documentsterms 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 6.3; and no implied duties or obligations shall be read into this Agreement or any Basic Document against the Owner Trustee6.03. 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-A Basic Document. 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 on any part of the Owner Trust Estate that result from actions by, or claims against, the Owner Trustee, Trustee in its individual capacity, 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-A), Trust Agreement (Mercedes-Benz Auto Lease Trust 2020-A)

No Duties Except as Specified in this Agreement or in Instructions. The Owner Trustee shall undertake have no obligation or duty to perform such monitor the Issuer’s obligations and duties and only such duties as are specifically set forth in this Agreement and under the other 2021-B Basic Documents, and no implied covenants Documents or obligations shall be read into this Agreement or to ensure its compliance with the other Basic Documentsterms 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 6.3; and no implied duties or obligations shall be read into this Agreement or any Basic Document against the Owner Trustee6.03. 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 2021-B Basic Document. 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 on any part of the Owner Trust Estate that result from actions by, or claims against, the Owner Trustee, Trustee in its individual capacity, 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 2021-B), Trust Agreement (Mercedes-Benz Auto Lease Trust 2021-B)

No Duties Except as Specified in this Agreement or in Instructions. The Owner Trustee shall undertake to perform such duties and only such duties as are specifically set forth in this Agreement and the other Basic Documents, and no implied covenants or obligations shall be read into this Agreement or the other Basic Documents. 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 6.3; and no implied duties or obligations shall be read into this Agreement or any 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 Securities and Exchange Commission filing for the Issuer or to record this Agreement or any other Basic Document. 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 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 1 contract

Sources: Trust Agreement (JPMorgan Chase Bank, National Association)

No Duties Except as Specified in this Agreement or in Instructions. The Owner Trustee shall undertake to perform such duties and only such duties as are specifically set forth in this Agreement and the other Basic Documents, and no implied covenants or obligations shall be read into this Agreement or the other Basic Documents. 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 6.3; and no 6.03. No implied duties or obligations shall be read into this Agreement or any 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 certify on behalf of the Trust or any 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 liens on any part of the Owner Trust Estate that result from actions by, or claims against, the Owner Trustee, in its individual capacity, Trustee that are not related to the ownership or the administration of the Owner Trust Estate.

Appears in 1 contract

Sources: Trust Agreement (Toyota Motor Credit Corp)