Common use of No Liability for Certain Persons Clause in Contracts

No Liability for Certain Persons. No present or future incorporator, director, officer, employee, or stockholder of the Company, nor any present or future incorporator, director, officer or employees of any Guarantor, as such, shall have any liability directly or indirectly for any obligations of the Company or any Guarantor under the Securities, the Guarantees or this Indenture based on or by reason of such obligations or their creation whether by virtue of any constitution, statute, rule or law, or by the enforcement of any assessment or penalty or otherwise, it being expressly agreed and understood that this Indenture, the Securities, Guarantees and obligations are solely corporate obligations. Each Holder by accepting a Security waives and releases all such liability. The foregoing waiver and release is an integral part of the consideration for the issuance of the Securities and the Guarantees.