Common use of Loan Note Clause in Contracts

Loan Note. Anything herein to the contrary notwithstanding, the obligations of the Borrower under this Debt Service (Tranche B) Loan Note are special obligations of the Borrower and do not constitute a debt or obligation of (and no recourse shall be had with respect thereto against) any Partner or Affiliate of the Borrower, or any shareholder, partner, officer or director of any such Partner or any such Affiliate; no action shall be brought against any Partner or any Affiliate thereof or any shareholder, partner, officer or director of any thereof as such, and any judicial proceedings the Bank may institute against the Borrower shall be limited to seeking the preservation, enforcement, foreclosure or other sale or disposition of the Liens and security interests now or at any time hereafter securing the repayment of the Debt Service Loans and performance by the Borrower of its other covenants and obligations hereunder and under the other Loan Documents to which it is a party; no judgment for any deficiency upon the obligations hereunder or under the other Loan Documents shall be obtainable by the Bank against the Borrower or any Partner or Affiliate of the Borrower or any shareholder, partner, officer or director of any thereof; provided, that nothing in this -------- Debt Service (Tranche B) Loan Note shall be construed to limit in any respect the validity and enforceability against any Partner of any of the its obligations under the Security Documents to which it is a party as an obligor (and not merely as signatory for another Person) or any of the rights of the Bank against the Lessee or Lessee Parent under any other Transaction Document.

Loan Note. Anything herein to the contrary notwithstanding, the obligations of the Borrower under this Debt Service (Tranche BA) Loan Note are special obligations of the Borrower and do not constitute a debt or obligation of (and no recourse shall be had with respect thereto against) any Partner or Affiliate of the Borrower, or any shareholder, partner, officer or director of any such Partner or any such Affiliate; no action shall be brought against any Partner or any Affiliate thereof or any shareholder, partner, officer or director of any thereof as such, and any judicial proceedings the Bank may institute against the Borrower shall be limited to seeking the preservation, enforcement, foreclosure or other sale or disposition of the Liens and security interests now or at any time hereafter securing the repayment of the Debt Service Loans and performance by the Borrower of its other covenants and obligations hereunder and under the other Loan Documents to which it is a party; no judgment for any deficiency upon the obligations hereunder or under the other Loan Documents shall be obtainable by the Bank against the Borrower or any Partner or Affiliate of the Borrower or any shareholder, partner, officer or director of any thereof; provided, that nothing in this -------- Debt Service (Tranche BA) Loan Note shall be construed to limit in any respect the validity and enforceability against any Partner of any of the its obligations under the Security security Documents to which it is a party as an obligor (and not merely as signatory for another Person) or any of the rights of the Bank against the Lessee or Lessee Parent under any other Transaction Document.