Common use of Immunity of Incorporators Stockholders Officers and Directors Clause in Contracts

Immunity of Incorporators Stockholders Officers and Directors. No recourse shall be had for the payment of the principal of (and premium, if any), or the interest, if any, on any Note, or for any claim based thereon, or upon any obligation, covenant or agreement of this Indenture, against any incorporator, stockholder, officer or director, as such, past, present or future, of the Company or of any successor corporation, either directly or indirectly through the Company or of any successor corporation, whether by virtue of any constitution, statute or rule of law or by the enforcement of any assessment of penalty or otherwise; it being expressly agreed and understood that this Indenture and all of the Notes are solely corporate obligations, and that no personal liability whatever shall attach to, or is incurred by, any incorporator, stockholder, officer or director, past, present or future, of the Company or of any successor corporation, either directly or indirectly through the Company or any successor corporation, because of the incurring of the indebtedness hereby authorized or under or by reason of any of the obligations, covenants or agreements contained in this Indenture or in the Notes, or to be implied herefrom or therefrom; and that all such personal liability is hereby expressly released and waived as a condition of, and as part of the consideration for, the execution of this Indenture and the issuance of the Notes.

Immunity of Incorporators Stockholders Officers and Directors. No recourse shall be had for the payment of the principal of (and premium, if any), or the interest, if any, on any NoteDebt Security of any series, or for any claim based thereon, or upon any obligation, covenant or agreement of this Indenture, against any incorporator, stockholder, officer or director, as such, past, present or future, of the Company or of any successor corporation, either directly or indirectly through the Company or of any successor corporation, whether by virtue of any constitution, statute or rule of law or by the enforcement of any assessment of penalty or otherwise; it being expressly agreed and understood that this Indenture and all the Debt Securities of the Notes each series are solely corporate obligations, and that no personal liability whatever shall attach to, or is incurred by, any incorporator, stockholder, officer or director, past, present or future, of the Company or of any successor corporation, either directly or indirectly through the Company or any successor corporation, because of the incurring of the indebtedness hereby authorized or under or by reason of any of the obligations, covenants or agreements contained in this Indenture or in any of the NotesDebt Securities of any series, or to be implied herefrom or therefrom; and that all such personal liability is hereby expressly released and waived as a condition of, and as part of the consideration for, the execution of this Indenture and the issuance of the NotesDebt Securities of each series.

Immunity of Incorporators Stockholders Officers and Directors. No recourse shall be had for the payment of the principal of (and premium, if any), or the interest, if any, on any Note, or for any claim based thereon, or upon any obligation, covenant or agreement of this Indenture, against any incorporator, stockholder, officer or director, as such, past, present or future, of the Company or of any successor corporation, either directly or indirectly through the Company or of any successor corporation, whether by virtue of any constitution, statute or rule of law or by the enforcement of any assessment of penalty or otherwise; it being expressly agreed and understood that this Indenture and all of the Notes are solely corporate obligations, and that no personal liability whatever whatsoever shall attach to, or is incurred by, any incorporator, stockholder, officer or director, past, present or future, of the Company or of any successor corporation, either directly or indirectly through the Company or any successor corporation, because of the incurring of the indebtedness Indebtedness hereby authorized or under or by reason of any of the obligations, covenants or agreements contained in this Indenture or in the Notes, or to be implied herefrom or therefrom; and that all such personal liability is hereby expressly released and waived as a condition of, and as part of the consideration for, the execution of this Indenture and the issuance of the Notes.

Immunity of Incorporators Stockholders Officers and Directors. No recourse shall be had for the payment of the principal of (and premium, if any), ) or the interest, if any, on any NoteSecurity of any series, or for any claim based thereon, or upon any obligation, covenant or agreement of this Indenture, against any incorporator, stockholder, officer or director, as such, past, present or future, of the Company or of any successor corporation, either directly or indirectly through the Company or of any successor corporation, whether by virtue of any constitution, statute or rule of law or by the enforcement of any assessment of or penalty or otherwise; it being expressly agreed and understood that this Indenture and all the Securities of the Notes each series are solely corporate obligations, and that no personal liability whatever shall attach to, or is incurred by, any incorporator, stockholder, officer or director, past, present or future, of the Company or of any successor corporation, either directly or indirectly through the Company or any successor corporation, because of the incurring of the indebtedness hereby authorized or under or by reason of any of the obligations, covenants or agreements contained in this Indenture or in any of the NotesSecurities of any series, or to be implied herefrom or therefrom; and that all such personal liability is hereby expressly released and waived as a condition of, and as part of the consideration for, the execution of this Indenture and the issuance issue of the NotesSecurities of each series.

Immunity of Incorporators Stockholders Officers and Directors. No recourse shall be had for the payment or delivery of the principal of (and principal, premium, if any), or the interest, if any, on any NoteSecurities, or for any claim based thereon, or upon any obligation, covenant or agreement of this Indenture, against any incorporator, stockholder, officer or director, as such, past, present or future, of the Company either Issuer or of any successor corporationGuarantor, either directly or indirectly through the Company either Issuer or of any successor corporationGuarantor, whether by virtue of any constitution, statute statute, or rule of law law, or by the enforcement of any assessment of penalty or otherwise; it being expressly agreed and understood that this Indenture and all of the Notes Securities and Guarantees are solely corporate obligations, and that no personal liability whatever shall attach to, or is incurred by, any incorporator, stockholder, officer or director, past, present or future, of the Company or of any successor corporation, either directly or indirectly through the Company or any successor corporation, because of the incurring of the indebtedness hereby authorized or under or by reason of any of the obligations, covenants or agreements contained in this Indenture or in any of the NotesSecurities or Guarantees or implied therefrom, or to be implied herefrom for any claim based thereon or therefrom; and that in respect thereof, all such personal liability is and any and all such claims being hereby expressly waived and released and waived as a condition of, and as part of the consideration for, the execution of this Indenture and the issuance of the NotesSecurities or Guarantees.

Immunity of Incorporators Stockholders Officers and Directors. No recourse shall be had for the payment of the principal of (and premium, if any), ) or the interest, if any, on any NoteSecurity of any series, or for any claim based thereon, or upon any obligation, covenant or agreement of this Indenture, against any incorporator, stockholder, officer or director, as such, past, present or future, of the Company or of any successor corporation, either directly or indirectly through the Company or of any successor corporation, whether by virtue of any constitution, statute or rule of law or by the enforcement of any assessment of or penalty or otherwise; it being expressly agreed and understood that this Indenture and all the Securities of the Notes each series are solely corporate obligations, and that no personal liability whatever shall attach to, or is incurred by, any incorporator, stockholder, officer or director, past, present or future, of the Company or of any successor corporation, either directly or indirectly through the Company or any successor corporation, because of the incurring of the indebtedness hereby authorized or under or by reason of any of the obligations, covenants or agreements contained in this Indenture or in any of the NotesSecurities of each series, or to be implied herefrom or therefrom; and that all such personal liability is hereby expressly released and waived as a condition of, and as part of the consideration for, the execution of this Indenture and the issuance issue of the NotesSecurities of each series.