Developer’s Liabilities Limited Clause Samples

Developer’s Liabilities Limited. (a) [The covenants and agreements contained in this Capital Lease and in any contract, purchase order or other agreement entered into pursuant to this Capital Lease shall never constitute or give rise to a personal or pecuniary liability or charge against the general credit of the Developer, and in the event of a breach of any such covenant or agreement, no personal or pecuniary liability or charge payable directly or indirectly from the general assets or revenues of the Developer shall arise therefrom. Nothing contained in this Section, however, shall relieve the Developer from the observance and performance of the covenants and agreements on its part contained herein.] (b) No recourse under or upon any covenant or agreement of this Capital Lease or of any contract or other agreement entered into pursuant to this Capital Lease shall be had against any past, present or future incorporator, officer or member of the Developer, or of any successor entity, either directly or through the Developer, 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 this Capital Lease is solely a corporate obligation, and that no personal liability whatever shall attach to, or is or shall be incurred by, any incorporator, officer or member of the Developer or any successor corporation, or any of them, under or by reason of the covenants or agreements contained in this Capital Lease. (c) The liability of the Developer for the payment of any money due under any contract or purchase order entered into by it, or for any other costs incurred in connection with the acquisition, construction or improvement of, or other work on, the Parking Facility shall be limited solely to the equity of the Developer in the Parking Facility. The limited liability of the Developer shall be plainly and conspicuously stated on each such contract or purchase order.