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

Immunity of Incorporators Stockholders Officers and Directors. Section 1501. Indenture and Securities Solely Corporate Obligations. ----------------------------------------------------- No recourse for the payment of the principal of or any premium or interest on any Security or any Guarantees of any part thereof, for any claim based thereon or otherwise in respect thereof, and no recourse under or upon any obligation, covenant or agreement of the Corporation or the Guarantor in this Indenture or in any supplemental indenture, or in any Security, or because of the creation of any indebtedness represented thereby, shall be had against any incorporator, stockholder, officer or director, as such, past, present or future, of the Corporation or the Guarantor or of any successor corporation to either of them, either directly or through the Corporation or the Guarantor or any successor corporation to either of them, whether by virtue of any constitution, statute or rule of law, or by the enforcement of any assessment or penalty or otherwise; it being expressly understood that all such liability is hereby expressly waived and released as a condition of, and as a consideration for, the execution of this Indenture and the issue of the Securities and the Guarantees endorsed thereon. * * * * This instrument may be executed in any number of counterparts, each of which so executed shall be deemed to be an original, but all such counterparts shall together constitute but one and the same instrument.

Immunity of Incorporators Stockholders Officers and Directors. Section 15011401. Indenture and Securities Solely Corporate Obligations. ----------------------------------------------------- No recourse for the payment of the principal of or any premium or interest on any Security Security, or any Guarantees of any part thereof, for any claim based thereon or otherwise in respect thereof, and no recourse under or upon any obligation, covenant or agreement of the Corporation or the Guarantor in this Indenture or in any supplemental indenture, or in any Security, or because of the creation of any indebtedness represented thereby, shall be had against any incorporator, stockholder, officer or director, as such, past, present or future, of the Corporation or the Guarantor or of any successor corporation to either of themcorporation, either directly or through the Corporation or the Guarantor or any successor corporation to either of themcorporation, whether by virtue of any constitution, statute or rule of law, or by the enforcement of any assessment or penalty or otherwise; it being expressly understood that all such liability is hereby expressly waived and released as a condition of, and as a consideration for, the execution of this Indenture and the issue of the Securities and the Guarantees endorsed thereonSecurities. * * * * This instrument may be executed in any number of counterparts, each of which so executed shall be deemed to be an original, but all such counterparts shall together constitute but one and the same instrument.

Immunity of Incorporators Stockholders Officers and Directors. Section 1501. Indenture and Securities Solely Corporate Obligations. ----------------------------------------------------- No recourse for the payment of the principal of or any premium or interest on any Security or Security, any Guarantees of or any part thereof, or for any claim based thereon or otherwise in respect thereof, and no recourse under or upon any obligation, covenant or agreement of the Corporation or the Guarantor in this Indenture or in any supplemental indenture, or in any Security, or because of the creation of any indebtedness represented thereby, shall be had against any incorporator, stockholder, officer or director, as such, past, present or future, of the Corporation or Corporation, the Guarantor or of any successor corporation to either of themcorporation, either directly or through the Corporation or Corporation, the Guarantor or any successor corporation to either of themcorporation, whether by virtue of any constitution, statute or rule of law, or by the enforcement of any assessment or penalty or otherwise; it being expressly understood that all such liability is hereby expressly waived and released as a condition of, and as a consideration for, the execution of this Indenture and the issue of the Securities and the Guarantees endorsed thereon. * * * * This instrument may be executed in any number of counterparts, each of which so executed shall be deemed to be an original, but all such counterparts shall together constitute but one and the same instrument.

Immunity of Incorporators Stockholders Officers and Directors. Section 1501. Indenture and Securities Solely Corporate Obligations. ----------------------------------------------------- No recourse shall be had for the payment of the principal of (and premium, if any), or any premium or interest the interest, if any, on any Security Debenture, or any Guarantees of any part thereof, for any claim based thereon or otherwise in respect thereofthereon, and no recourse under or upon any obligation, covenant or agreement of the Corporation or the Guarantor in this Indenture or in any supplemental indentureIndenture, or in any Security, or because of the creation of any indebtedness represented thereby, shall be had against any incorporator, stockholder, officer or director, as such, past, present or future, of the Corporation or the Guarantor Company or of any successor corporation to either of themcorporation, either directly or indirectly through the Corporation Company or the Guarantor or of any successor corporation to either of themcorporation, whether by virtue of any constitution, statute or rule of law, law or by the enforcement of any assessment or of penalty or otherwise; it being expressly agreed and understood that this Indenture and all of the Debentures 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 Debentures, or to be implied herefrom or therefrom; and that all such personal liability is hereby expressly released and waived and released as a condition of, and as a part of the consideration for, the execution of this Indenture and the issue issuance of the Securities and the Guarantees endorsed thereon. * * * * This instrument may be executed in any number of counterparts, each of which so executed shall be deemed to be an original, but all such counterparts shall together constitute but one and the same instrumentDebentures.