Recourse Against Certain Parties. Notwithstanding anything in this Agreement to the contrary, all amounts owed by the Issuing Entity or the Grantor Trust on, under or in respect of its obligations and liabilities under this Agreement shall be recoverable only from and to the extent of the Collateral and upon final realization of collections thereon and in accordance with Section 2.7 of the Indenture, the Issuing Entity and the Grantor Trust shall have no further liability and all claims in respect of the amounts owed but still unpaid shall be extinguished.
Appears in 64 contracts
Sources: Backup Servicing Agreement (Carvana Auto Receivables Trust 2024-P2), Administration Agreement (Carvana Auto Receivables Trust 2024-P2), Administration Agreement (Carvana Auto Receivables Trust 2024-P2)
Recourse Against Certain Parties. Notwithstanding anything in this Agreement to the contrary, all amounts owed by the Issuing Entity [or the Grantor Trust Trust] on, under or in respect of its obligations and liabilities under this Agreement shall be recoverable only from and to the extent of the Collateral and upon final realization of collections thereon and in accordance with Section 2.7 of the Indenture, the Issuing Entity [and the Grantor Trust Trust] shall have no further liability and all claims in respect of the amounts owed but still unpaid shall be extinguished.
Appears in 3 contracts
Sources: Administration Agreement (Carvana Receivables Depositor LLC), Backup Servicing Agreement (Carvana Receivables Depositor LLC), Administration Agreement (Carvana Receivables Depositor LLC)
Recourse Against Certain Parties. Notwithstanding anything in this Agreement to the contrary, all amounts owed by the Issuing Entity or the Grantor Trust on, under or in respect of its obligations and liabilities under this Agreement shall be recoverable only from and to the extent of the Collateral and upon final realization of collections thereon and in accordance with Section 2.7 of the Indenture, the Issuing Entity and the Grantor Trust shall have no further liability and all claims in respect of the amounts owed but still unpaid shall be extinguished.. 11 CRVNA 2022-P2 Administration Agreement
Appears in 2 contracts
Sources: Administration Agreement (Carvana Auto Receivables Trust 2022-P2), Administration Agreement (Carvana Auto Receivables Trust 2022-P2)
Recourse Against Certain Parties. Notwithstanding anything in this Agreement to the contrary, all amounts owed by the Issuing Entity [or the Grantor Trust ]on, under or in respect of its obligations and liabilities under this Agreement shall be recoverable only from and to the extent of the Collateral and upon final realization of collections thereon and in accordance with Section 2.7 of the Indenture, the Issuing Entity [and the Grantor Trust Trust] shall have no further liability and all claims in respect of the amounts owed but still unpaid shall be extinguished.
Appears in 1 contract
Sources: Backup Servicing Agreement (Carvana Receivables Depositor LLC)