Common use of NO LIABILITY EXCEPT FOR NEGLIGENCE ETC Clause in Contracts

NO LIABILITY EXCEPT FOR NEGLIGENCE ETC. Except to the extent caused by the fraud, negligence or wilful default on the Note Trustee's part or on the part of any of its officers or employees, or any agents or delegate, sub-agent, sub-delegate employed by the Note Trustee in accordance with this deed (and where this deed provides that the Note Trustee is liable for the acts or omissions of any such person) to carry out any transactions contemplated by this deed, the Note Trustee shall not be liable for any losses, costs, liabilities or claims arising from the failure to pay moneys on the due date for payment to any Offshore Noteholder or any other person or for any loss howsoever caused in respect of any of the Trust or to any Offshore Noteholder or other person. The Note Trustee is not obliged to take any action under this deed unless it is indemnified to its satisfaction against all actions, proceedings, claims and demands to which it may render itself liable and all costs, charges, damages and expenses it may incur in doing so, to the extent permitted by law.

NO LIABILITY EXCEPT FOR NEGLIGENCE ETC. Except to the extent caused by the fraud, negligence or wilful default on the Note Trustee's part or on the part of any of its officers or employees, or any agents or delegate, sub-agent, sub-delegate employed by the Note Trustee in accordance with this deed (and where this deed provides that the Note Trustee is liable for the acts or omissions of any such person) to carry out any transactions contemplated by this deed, the Note Trustee shall not be liable for any losses, costs, liabilities or claims arising from the failure to pay moneys on the due date for payment to any Offshore Class A Offered Noteholder or any other person or for any loss howsoever caused in respect of any of the Trust Securitisation Fund or to any Offshore Class A Offered Noteholder or other person. The Note Trustee is not obliged to take any action under this deed unless it is indemnified to its reasonable satisfaction against all actions, proceedings, claims and demands to which it may render itself liable and all costs, charges, damages and expenses which it may incur in doing so, to the extent permitted by lawso doing.