Common use of Recourse and Ranking Clause in Contracts

Recourse and Ranking. The obligations of Party B under this Agreement, and under any Transaction executed hereunder, are limited recourse obligations of Party B payable solely from the Trust Estate. No recourse shall be had for the payment of any amount owing in respect of any Transaction or any other obligation or claim arising out of or based upon this Agreement against any member, employee, officer, director or agent of Party B. Any accrued obligations owing by Party B under this Agreement and any Transaction shall be payable by Party B solely to the extent that funds are available therefor from time to time in accordance with the provisions of the Indenture; and, following realization of the Trust Estate, any claims of Party A against Party B shall be extinguished. Notwithstanding any provisions contained in this Agreement to the contrary, Party B shall not be obligated to pay any amount pursuant to this Agreement unless Party B has received funds which may be used to make such payment and such payment is made in advance in accordance with the Indenture. Any amount which Party B does not pay pursuant to the operation of the preceding sentence shall not constitute a claim (as defined in §101 of the Bankruptcy Code) against or corporate obligation of Party B for any such insufficiency unless and until such payment is permitted under such preceding sentence.

Recourse and Ranking. The obligations of Party B under this Agreement, and under any Transaction executed hereunder, are limited recourse solely the obligations of Party B payable solely from the Trust Estate. B. No recourse shall be had for the payment of any amount owing in respect of any Transaction or any other obligation or claim arising out of or based upon this Agreement against any member, employee, officer, director or agent of Party B. Any accrued obligations owing by Party B under this Agreement and any Transaction shall be payable by Party B solely to the extent that funds are available therefor from time to time in accordance with the provisions of the Indenture; and, following realization of the Trust Estate, any claims of Party A against Party B provided that such accrued obligations shall not be extinguishedextinguished until paid in full. Notwithstanding any provisions contained in this Agreement to the contrary, Party B shall not be obligated to pay any amount pursuant to this Agreement unless Party B has received funds which may be used to make such payment and such payment is made in advance in accordance with the Indenture. Any amount which Party B does not pay pursuant to the operation of the preceding sentence shall not constitute a claim (as defined in §101 of the Bankruptcy Code) against or corporate obligation of Party B for any such insufficiency unless and until such payment is permitted under such preceding sentence.

Recourse and Ranking. The obligations of Party B A under this Agreement, and under any Transaction executed hereunder, are limited recourse solely the obligations of Party B payable solely from the Trust Estate. A. No recourse shall be had for the payment of any amount owing in respect of any Transaction or any other obligation or claim arising out of or based upon this Agreement against any member, employee, officer, director or agent of Party B. A. Any accrued obligations owing by Party B A under this Agreement and any Transaction shall be payable by Party B A solely to the extent that funds are available therefor from time to time in accordance with the provisions of the Indenture; and, following realization of the Trust Estate, any claims of Party A against Party B provided that such accrued obligations shall not be extinguishedextinguished until paid in full. Notwithstanding any provisions contained in this Agreement to the contrary, Party B A shall not be obligated to pay any amount pursuant to this Agreement unless Party B A has received funds which may be used to make such payment and such payment is made in advance in accordance with the Indenture. Any amount which Party B A does not pay pursuant to the operation of the preceding sentence shall not constitute a claim (as defined in §Section 101 of the Bankruptcy Code) against or corporate obligation of Party B A for any such insufficiency unless and until such payment is permitted under such preceding sentence.

Recourse and Ranking. The obligations of Party B under this Agreement, and under any Transaction executed hereunder, are limited recourse solely the obligations of Party B payable solely from the Trust Estate. B. No recourse shall be had for the payment of any amount owing in respect of any Transaction or any other obligation or claim arising out of or based upon this Agreement against any member, employee, officer, director or agent of Party B. Any accrued obligations owing by Party B under this Agreement and any Transaction shall be payable by Party B solely to the extent that funds are available therefor from time to time in accordance with the priority of payments and other provisions of the IndenturePooling and Servicing Agreement; and, following realization of the Trust Estate, any claims of Party A against Party B provided that such accrued obligations shall not be extinguishedextinguished until paid in full. Notwithstanding any provisions contained in this Agreement to the contrary, Party B shall not be obligated to pay any amount pursuant to this Agreement unless Party B has received funds which may be used to make such payment and such payment is made in advance in accordance with the IndenturePooling and Servicing Agreement. Any amount which Party B does not pay pursuant to the operation of the preceding sentence shall not constitute a claim (as defined in §101 of the Bankruptcy Code) against or corporate obligation of Party B for any such insufficiency unless and until such payment is permitted under such preceding sentence.

Recourse and Ranking. The obligations of Party B under this Agreement, and under any Transaction executed hereunder, are limited recourse solely the obligations of Party B payable solely from the Trust Estate. B. No recourse shall be had for the payment of any amount owing in respect of any Transaction or any other obligation or claim arising out of or based upon this Agreement against any member, employee, officer, director or agent of Party B. Any accrued obligations owing by Party B under this Agreement and any Transaction shall be payable by Party B solely to the extent that funds are available therefor from time to time in accordance with the provisions of the Indenture; and, following realization of the Trust Estate, any claims of Party A against Party B provided that such accrued obligations shall not be extinguishedextinguished until paid in full. Notwithstanding any provisions contained in this Agreement to the contrary, Party B shall not be obligated to pay any amount pursuant to this Agreement unless Party B has received funds which may be used to make such payment and such payment is made in advance in accordance with the Indenture. Any amount which Party B does not pay pursuant to the operation of the preceding sentence shall not constitute a claim (as defined in §101 of the Bankruptcy Code) against or corporate obligation of Party B for any such insufficiency unless and until such payment is permitted under such preceding sentence.