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

No Duties Except as Specified in Trust Agreement or Instructions. The Owner Trustee shall not have any duty or obligation to manage, control, use, sell, dispose of or otherwise deal with the Equipment or any other part of the Trust Estate, except as expressly provided by the terms hereof or in a written instruction from the Owner Participant received pursuant to the terms of Section 5.01, and no implied duties or obligations shall be read into this Trust Agreement against the Owner Trustee. WFB agrees that it will, in its individual capacity and at its own cost or expense (but without any right of indemnity in respect of any such cost or expense under Section 7.01 hereof), promptly take such action as may be necessary to duly discharge and satisfy in full all Liens on all or any part of the Trust Estate attributable to it in its individual capacity.

Appears in 2 contracts

Sources: Credit Agreement (Willis Lease Finance Corp), Credit Agreement (Willis Lease Finance Corp)