No Liability of the Depositor Sample Clauses

The "No Liability of the Depositor" clause establishes that the depositor is not responsible for any losses, damages, or obligations arising from the use, storage, or handling of the deposited items. In practice, this means that if the items are lost, damaged, or cause harm while in the custody of the depositary, the depositor cannot be held financially or legally liable. This clause is commonly used in storage or escrow agreements to protect the depositor from unforeseen risks associated with the deposited property, ensuring that liability is clearly allocated and reducing potential disputes over responsibility.
No Liability of the Depositor with Respect to the Underlying Securities; Certificateholders to Proceed Directly Against the Issuer(s). (a) The sole obligor with respect to any Underlying Security is the Issuer thereof. The Depositor shall not have any obligation on or with respect to the Underlying Securities; and its obligations with respect to Certificates shall be solely as set forth in this Trust Agreement. (b) The Depositor is not authorized to proceed against the Issuer of any Underlying Security in the event of a default or to assert the rights and privileges of Certificateholders of Certificates and has no duty in respect thereof.
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No Liability of the Depositor with Respect to --------------------------------------------- the Underlying Securities; Certificateholders to Proceed Directly Against the ----------------------------------------------------------------------------- Issuer(s). (a) The sole obligor with respect to any Underlying Security is the --------- Issuer thereof. The Depositor shall not have any obligation on or with respect to the Underlying Securities; and its obligations with respect to Certificates shall be solely as set forth in this Trust Agreement. (b) The Depositor is not authorized to proceed against the Issuer of any Underlying Security in the event of a default or to assert the rights and privileges of Certificateholders of Certificates and has no duty in respect thereof.
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Related to No Liability of the Depositor

  • Liability of the Depositor The Depositor shall be liable in accordance herewith only to the extent of the obligations specifically imposed by these Standard Terms and the related Supplement.

  • Liability of the Servicer Notwithstanding any Subservicing Agreement, any of the provisions of this Agreement relating to agreements or arrangements between the Servicer and a Subservicer or reference to actions taken through a Subservicer or otherwise, the Servicer shall remain obligated and primarily liable to the Trustee for the servicing and administering of the Mortgage Loans in accordance with the provisions of Section 3.01 without diminution of such obligation or liability by virtue of such Subservicing Agreements or arrangements or by virtue of indemnification from the Subservicer and to the same extent and under the same terms and conditions as if the Servicer alone were servicing and administering the Mortgage Loans. The Servicer shall be entitled to enter into any agreement with a Subservicer for indemnification of the Servicer by such Subservicer and nothing contained in this Agreement shall be deemed to limit or modify such indemnification.

  • Liability of the Seller The Seller shall be liable in accordance herewith only to the extent of the obligations in this Agreement specifically undertaken by the Seller and with respect to its representations and warranties expressly set forth hereunder.

  • Liability of the Transferor The Transferor shall be liable only to the extent of the obligations specifically undertaken by the Transferor under this Agreement and the representations made by the Transferor in this Agreement.

  • No Liability of Others The Administrator’s obligations under this Agreement are corporate obligations. No Person will have recourse, directly or indirectly, against any member, manager, officer, director, employee or agent of the Administrator for the Administrator’s obligations under this Agreement.