Common use of Issuer Obligation Clause in Contracts

Issuer Obligation. No recourse may be taken directly or indirectly by the Holders with respect to the obligations of the Issuer on the Securitization Bonds, under the Indenture or this Supplement or any certificate or other writing delivered in connection herewith or therewith, against (a) any owner of a beneficial interest in the Issuer (including Consumers Energy) or (b) any shareholder, partner, owner, beneficiary, officer, director, employee or agent of the Indenture Trustee, the Managers or any owner of a beneficial interest in the Issuer (including Consumers Energy) in its individual capacity, or of any successor or assign of any of them in their respective individual or corporate capacities, except as any such Person may have expressly agreed. Each Holder by accepting a Securitization Bond specifically confirms the nonrecourse nature of these obligations and waives and releases all such liability. The waiver and release are part of the consideration for issuance of the Securitization Bonds.

Issuer Obligation. No recourse may be taken directly or indirectly by the Holders with respect to the obligations of the Issuer on the Securitization Bonds, under the Indenture or this Supplement or any certificate or other writing delivered in connection herewith or therewith, against (a) any owner of a beneficial interest in the Issuer (including Consumers EnergyDTE Electric) or (b) any shareholder, partner, owner, beneficiary, officer, director, employee or agent of the Indenture Trustee, the Managers or any owner of a beneficial interest in the Issuer (including Consumers EnergyDTE Electric) in its individual capacity, or of any successor or assign of any of them in their respective individual or corporate capacities, except as any such Person may have expressly agreed. Each Holder by accepting a Securitization Bond specifically confirms the nonrecourse nature of these obligations and waives and releases all such liability. The waiver and release are part of the consideration for issuance of the Securitization Bonds.

Issuer Obligation. No recourse may be taken directly or indirectly indirectly, by the Holders with respect to the obligations of the Issuer on the Securitization Transition Bonds, under the Indenture or under this Supplement or any certificate or other writing delivered in connection herewith or therewith, against (ai) any owner of a beneficial interest in the Issuer (including Consumers EnergyTCC) or (bii) any shareholder, partner, owner, beneficiary, agent, officer, director, employee or agent of the Indenture Trustee, the Managers or any owner of a beneficial interest in the Issuer (including Consumers EnergyTCC) in its individual capacity, or of any successor or assign of any of them in their respective individual or corporate capacities, except as any such Person may have expressly agreed. Each Holder by accepting a Securitization Transition Bond specifically confirms the nonrecourse nature of these obligations obligations, and waives and releases all such liability. The waiver and release are part of the consideration for issuance of the Securitization Transition Bonds.

Issuer Obligation. No recourse may be taken taken, directly or indirectly by the Holders indirectly, with respect to the obligations of the Issuer or the Indenture Trustee on the Securitization Bonds, System Restoration Bonds or under the this Indenture or this Supplement or any certificate or other writing delivered in connection herewith or therewith, against (ai) any owner of a beneficial membership interest in the Issuer (including Consumers EnergyETI) or (bii) any shareholder, partner, owner, beneficiary, agent, officer, director, director or employee or agent of the Indenture Trustee, the Managers or any owner of a beneficial membership interest in the Issuer (including Consumers EnergyETI) in its respective individual capacity, or of any successor or assign of any of them in their respective individual or corporate capacities, except as any such Person may have expressly agreedagreed in writing. Each Holder by accepting a Securitization System Restoration Bond specifically confirms the nonrecourse nature of these obligations obligations, and waives and releases all such liability. The waiver and release are part of the consideration for issuance of the Securitization System Restoration Bonds.