Common use of Immunity of Certain Persons Clause in Contracts

Immunity of Certain Persons. No recourse for the payment of the principal of or premium, if any, or interest on any Subordinated Note, or for any claim based thereon or otherwise in respect thereof, and no recourse under or upon any obligation, covenant or agreement contained in the Indenture or in any Subordinated Note, or for any claim based thereon or otherwise in respect thereof, will be had against any past, present or future incorporator, shareholder, employee, officer, director or agent, as such, of the Company or of any predecessor or successor, either directly or through the Company or any predecessor or successor, under any rule of law, statute or constitutional provision or by the enforcement of any assessment or by any legal or equitable proceeding or otherwise, it being expressly understood that this Indenture and the obligations hereunder are solely corporate obligations, and that no such personal liability whatever shall attach to, or is or shall be incurred by, the incorporators, stockholders, employees, officers, directors or agents, as such, of the Company or of any predecessor or successor, or any of them, because of the creation of the indebtedness hereby authorized, or under or by reason of the obligations, covenants or agreements contained in this Indenture or in any of the Subordinated Notes or implied therefrom; and that any and all such personal liability of every name and nature, either at common law or in equity or by constitution or statute, of, and any and all such rights and claims against, every such incorporator, shareholder, employee, officer, director or agent, as such, because of the creation of the indebtedness hereby authorized, or under or by reason of the obligations, covenants or agreements contained in this Indenture or in any of the Subordinated Notes or implied therefrom, are hereby expressly waived and released by the acceptance of the Subordinated Notes by the Holders and as part of the consideration for the execution of this Indenture and the issuance of the Subordinated Notes.

Immunity of Certain Persons. No recourse for the payment under or upon any obligation, covenant or agreement of the principal of or premium, if anythis Indenture, or interest on of any Subordinated NoteSecurity, or for any claim based thereon or otherwise in respect thereof, and no recourse under or upon any obligation, covenant or agreement contained in the Indenture or in any Subordinated Note, or for any claim based thereon or otherwise in respect thereof, will shall be had against any incorporator, stockholder, officer or director, past, present or future incorporator, shareholder, employee, officer, director or agent, as such, of the Company or of any predecessor or successorsuccessor corporation, either directly or through the Company or any such predecessor or successorsuccessor corporation, under whether by virtue of any constitution, statute or rule of law, statute or constitutional provision or by the enforcement of any assessment or by any legal or equitable proceeding penalty or otherwise, ; it being expressly understood that this Indenture and the obligations issued hereunder are solely corporate obligations, and that no such personal liability whatever shall attach to, or is or shall be incurred by, the incorporators, stockholders, employees, officers, officers or directors or agents, as such, of the Company or of any predecessor or successorsuccessor corporation, or any of them, because of the creation of the indebtedness hereby authorized, or under or by reason of the obligations, covenants or agreements contained in this Indenture or in any of the Subordinated Notes Securities or implied therefrom; and that any and all such personal liability of every name and nature, either at common law or in equity or by constitution or statute, of, and any and all such rights and claims against, every such incorporator, shareholderstockholder, employee, officer, officer or director or agent, as such, because of the creation of the indebtedness hereby authorized, or under or by reason of the obligations, covenants or agreements contained in this Indenture or in any of the Subordinated Notes Securities or implied therefrom, are hereby expressly waived and released by the acceptance of the Subordinated Notes by the Holders as a condition of, and as part of the a consideration for for, the execution of this Indenture and the issuance of the Subordinated Notessuch Securities.

Immunity of Certain Persons. No recourse for the payment under or upon any obligation, covenant or agreement of the principal of or premium, if anythis Indenture, or interest on of any Subordinated NoteSecurity, or for any claim based thereon or otherwise in respect thereof, and no recourse under or upon any obligation, covenant or agreement contained in the Indenture or in any Subordinated Note, or for any claim based thereon or otherwise in respect thereof, will shall be had against any incorporator, stockholder, officer or director, past, present or future incorporator, shareholder, employee, officer, director or agent, as such, of the Company or of any predecessor or successorsuccessor corporation, either directly or through the Company or any such predecessor or successorsuccessor corporation, under whether by virtue of any constitution, statute or rule of law, statute or constitutional provision or by the enforcement of any assessment or by any legal or equitable proceeding penalty or otherwise, ; it being expressly understood that this Indenture and the obligations issued hereunder are solely corporate obligations, and that no such personal liability whatever shall attach to, or is or shall be incurred by, the incorporators, stockholders, employees, officers, officers or directors or agents, as such, of the Company or of any predecessor or successorsuccessor corporation, or any of them, because of the creation of the indebtedness hereby authorized, or under or by reason of the obligations, covenants or agreements contained in this Indenture or in any of the Subordinated Notes Securities or implied therefrom; and that any and all such personal liability of every name and nature, either at common law or in equity or by constitution or statute, of, and any and all such rights and claims against, every such incorporator, shareholderstockholder, employee, officer, officer or director or agent, as such, because of the creation of the indebtedness hereby authorized, or under or by reason of the obligations, covenants or agreements contained in this Indenture or in any of the Subordinated Notes Securities or implied therefrom, are hereby expressly waived and released by the acceptance of the Subordinated Notes by the Holders as a condition of, and as part of the a consideration for for, the execution of this Indenture and the issuance of the Subordinated Notes.such Securities. ARTICLE THIRTEEN