Common use of No Personal Liability of Incorporators, Stockholders, Members, Officers, Directors or Employees Clause in Contracts

No Personal Liability of Incorporators, Stockholders, Members, Officers, Directors or Employees. No recourse for the payment of the principal of, premium, if any, or interest on any of the Notes or for any claim based thereon or otherwise in respect thereof, and no recourse under or upon any obligation, covenant or agreement of the Company or any of the Subsidiary Guarantors or the JV Subsidiary Guarantors in this Indenture, or in any of the Notes, the Subsidiary Guarantees or the JV Subsidiary Guarantees or because of the creation of any Indebtedness represented thereby, shall be had against any incorporator, stockholder, member, officer, director, employee or controlling person of the Company or any of the Subsidiary Guarantors or the JV Subsidiary Guarantors or of any successor Person thereof. Each Holder, by accepting the Notes, waives and releases all such liability. The waiver and release are part of the consideration for the issuance of the Notes, the Subsidiary Guarantees and the JV Subsidiary Guarantees. Such waiver may not be effective to waive liabilities under any applicable law. The Trustee is hereby authorized to enter into and to perform its duties and obligations under the Security Documents, the Intercreditor Agreement (including any supplements, amendments or modifications thereto) and any future intercreditor agreement required and permitted under this Indenture. 2 To be added SIGNATURES

Appears in 4 contracts

Samples: Supplemental Indenture (Yin Jia Investments LTD), Supplemental Indenture (Yin Jia Investments LTD), Supplemental Indenture (Yin Jia Investments LTD)

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No Personal Liability of Incorporators, Stockholders, Members, Officers, Directors or Employees. No recourse for the payment of the principal of, premium, if any, or interest on any of the Notes or for any claim based thereon or otherwise in respect thereof, and no recourse under or upon any obligation, covenant or agreement of the Company or any of the Subsidiary Guarantors or the JV Subsidiary Guarantors in this Indenture, or in any of the Notes, the Subsidiary Guarantees or the JV Subsidiary Guarantees or because of the creation of any Indebtedness represented thereby, shall be had against any incorporator, stockholder, member, officer, director, employee or controlling person of the Company or any of the Subsidiary Guarantors or the JV Subsidiary Guarantors or of any successor Person thereof. Each Holder, by accepting the Notes, waives and releases all such liability. The waiver and release are part of the consideration for the issuance of the Notes, the Subsidiary Guarantees and the JV Subsidiary Guarantees. Such waiver may not be effective to waive liabilities under any applicable law. The Trustee is hereby authorized to enter into and to perform its duties and obligations under the Security Documents, the Intercreditor Agreement (including any supplements, amendments or modifications thereto) and any future intercreditor agreement required and permitted under this Indenture. 2 4 To be added SIGNATURES

Appears in 1 contract

Samples: Indenture (Yin Jia Investments LTD)

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