Limitation on Recourse Clause Examples

Limitation on Recourse. No recourse shall be had for the payment or performance of any obligation or covenant in this Governance Agreement, or for any claim against a Party to this Governance Agreement, personally against any past, present or future director, member, officer, employee, agent or official of any of the Parties under any rule of law or equity, statute, or constitution or by the enforcement of any assessment or penalty or otherwise, and all such personal liability is hereby expressly waived.

Limitation on Recourse. Notwithstanding anything to the contrary expressed or implied herein, where the Termination Sum becomes payable by the Lessee pursuant to clauses 27.1 or 27.3.1 or, if at the time of any voluntary termination of the leasing of the Ship pursuant to clause 3.3 a Relevant Bank Event has arisen, the Lessor shall have no recourse against the Lessee or any of the assets and undertakings of the Lessee in respect of such part of the Termination Sum as is equal to the Applicable Security Amount at the relevant time and the relevant part of the Termination Sum which is equal to the said Applicable Security Amount shall be recoverable by the Lessor only from and to the extent of the payments made by a Relevant Bank under the Letter of Credit or other Additional Security Document. The limitation on recourse contained in this clause 27.4 is given on the basis that: (a) the foregoing limitation on recourse shall be ignored in the determination of the Lease Obligations and the Lease Obligations shall include all moneys, obligations and liabilities which are to be paid, repaid, performed, satisfied or discharged by the Lessee, notwithstanding the foregoing limitation of recourse; (b) to the extent that a claim or proof is a necessary procedural step to enable the realisation or enforcement of the full benefit of this Lease or the other Relevant Documents, or to the exercise by the Lessor of any right, title, interest and benefit in, to, under or pursuant to this Lease and the other Relevant Documents, the Lessor shall be entitled to make or file a claim or proof in any Insolvency Event in relation to the Lessee, but not itself to take any legal action or proceeding to instigate any such Insolvency Event in respect of amounts to which the obligations of the Lessee are limited recourse pursuant to this clause; and (c) save where the Lessor has agreed to limit its rights of recourse against the Lessee under, or as referred to in, this clause 27.4, the Lessor shall have full recourse against the Lessee in respect of all of the Lease Obligations. Accordingly, and without limiting the generality of the foregoing, to the extent that the Termination Sum and any other amounts due and owing by the Lessee to the Lessor under this Lease and the other Lease Documents exceeds the Applicable Security Amount at the applicable time, the Lessee shall be obliged to make payment for the relevant excess in full and the Lessor shall have full recourse to the Lessee and its assets to the extent...

Limitation on Recourse. The parties hereto agree that all statements, representations, covenants and agreements made by Lessor (when made in its capacity as such and not in its individual capacity) contained in this Agreement, unless expressly otherwise stated, are made and intended only for the purpose of binding the Trust Estate and establishing the existence of rights and remedies that can be exercised and enforced against the Trust Estate. Therefore, no recourse shall be had with respect to anything contained in this Agreement (except for any express provisions that Lessor is responsible for in its individual capacity), against Lessor in its individual capacity or against any institution or person that becomes a successor trustee or co-trustee or any officer, director, trustee, servant or direct or indirect parent or controlling Person or Persons of any of them; provided that (i) this Section 21(n) shall not be construed to prohibit any action or proceeding against any party hereto for its own willful misconduct or grossly negligent conduct for which it would otherwise be liable and (ii) nothing contained in this Section 21(n) shall be construed to limit the exercise and enforcement in accordance with the terms of this Agreement or such other agreements of rights and remedies against the Trust Estate. The foregoing provisions of this Section 21(n) shall survive the termination of this Agreement and the other Operative Documents.

Limitation on Recourse. Landlord has executed this Lease by its authorized representative signing solely in a representative capacity. Notwithstanding anything contained in this Lease to the contrary, Tenant confirms that the covenants of Landlord are made and intended, not as personal covenants of the Landlord’s authorized representative or for the purpose of binding such authorized representative personally, but solely in the exercise of the representative powers conferred upon such authorized representative by their principal. Liability with respect to the entry and performance of this Lease by or on behalf of Landlord, however it may arise, shall be asserted and enforced only against Landlord’s estate and equity interest in the Building. Neither Landlord nor any of Landlord’s Agents shall have any personal liability in the event of any claim against Landlord arising out of or in connection with this Lease, the relationship of Landlord and Tenant or Tenant’s use of the Premises. Further, in no event whatsoever shall any Landlord’s Agent have any liability or responsibility whatsoever arising out of or in connection with this Lease, the relationship of Landlord and Tenant or Tenant’s use of the Premises. Any and all personal liability, if any, beyond that which may be asserted under this paragraph, is expressly waived and released by Tenant and by all persons claiming by, through or under Tenant.

Limitation on Recourse. The obligations of Mortgagor hereunder are subject to limitations on recourse as provided in Article XII of the Loan Agreement.

Limitation on Recourse. 56 SECTION 20. Notices .................................................... 56 SECTION 21. Expenses .................................................... 56 SECTION 22. Reliance of Liquidity Provider................................. 57 SECTION 23. Miscellaneous.................................................. 58

Limitation on Recourse. All liabilities and obligations of (i) Green Bank under this Agreement are subject and limited to the funding available under Connecticut law and (ii) Capital Provider under this Agreement are limited to its assets and no officer, director, employee, partner, investor or shareholder shall have any personal liability for such liabilities or obligations.

Limitation on Recourse. Tenant specifically agrees to look solely to Landlord's interest in the Project for the recovery of any judgments from Landlord. It is agreed that Landlord (and its agents, shareholders, venturers, and partners, and their shareholders, venturers, and partners and all of their officers, directors, and employees) will not be personally liable for any such judgments.

Limitation on Recourse. The Bonds are secured by a pledge and assignment to the Trustee of the Revenues and the security therefor and guarantees thereof and by the proceeds from the sale of the Bonds (until disbursed as provided by the Bond Indenture) and all funds and accounts authorized and established by the Bond Indenture (with the exception of the Rebate Fund and the Purchase Fund). This Bond is a limited obligation of the Issuer payable solely from the Revenues specified in the Bond Indenture, which consist of certain payments received or receivable by the Issuer from the Borrower under the Loan Agreement. No recourse shall be had for the payment of the principal or Redemption Price of or interest on this Bond or for any claims based thereon or under the Bond Indenture against any member, officer, agent or employee of the Issuer or any person executing this Bond, all such liability, if any, being hereby expressly waived and released by every Registered Owner of this Bond by the acceptance hereof, as provided in the Bond Indenture. NEITHER THE STATE OF TEXAS NOR ANY POLITICAL CORPORATION, SUBDIVISION, OR AGENCY OF THE STATE OF TEXAS, INCLUDING XXXXXX COUNTY, TEXAS, SHALL BE OBLIGATED TO PAY THE PRINCIPAL OF OR THE INTEREST ON THE BONDS. NEITHER THE FAITH AND CREDIT NOR THE TAXING POWER OF THE STATE OF TEXAS, XXXXXX COUNTY, TEXAS, OR ANY OTHER POLITICAL CORPORATION, SUBDIVISION, OR AGENCY OF THE STATE OF TEXAS IS PLEDGED TO THE PAYMENT OF PRINCIPAL OF OR INTEREST OR ANY REDEMPTION PREMIUM ON THE BONDS. THE ISSUER HAS NO TAXING POWER.