Release of Personal Liability Sample Clauses

Release of Personal Liability. In consideration for the transfer by Borrower of the Property to Lender (or, at Lender’s option, Designee), and subject to the terms, provisions, and conditions herein contained, at the “Closing” (as hereinafter defined), Lender shall in the deed in lieu agree to release Borrower from any personal liability for payment of the Loan.
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Release of Personal Liability. In the event there is any personal liability imposed on any of the Ewinx Xxxckholders with respect to Ewinx xx any of the Property or any of the Ewinx Xxxited Partners with respect to any Partnership or any of the Property (other than as provided in this Agreement), whether under a guaranty or otherwise, and such personal liability relates to principal or interest on a debt or obligation of Ewinx xx the Partnerships that is specifically mentioned in this Agreement or which is secured by any of the Properties, then such personal liability shall be released by agreements in form and substance satisfactory to the Ewinx Xxxckholders or the Ewinx Xxxited Partners, as the case may be. Notwithstanding the foregoing, it is not a condition to Closing that the Ewinx Xxxreholders or the Ewinx Xxxited Partners be released from liability for fraud, environmental matters and similar nonrecourse carveout liability, but Summit shall indemnify the Ewinx Xxxreholders and Ewinx Xxxited Partners from such liability arising on or after the Closing (except that with respect to Rancho, such indemnification shall be with respect to such liability arising on or after the Rancho Issue Date) based on acts or omissions which occurred after such date.
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Release of Personal Liability. 39 11.7 Party to this Agreement; Compliance with Law..39 11.8 Transferees...................................39 ARTICLE XII
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Release of Personal Liability. In the event that a dissolved or bankrupt Member is liable on any obligations of the Company because such Member guaranteed or co-signed such obligations, then the Company and the Members shall, as one of the terms of the purchase of such Member's Ownership Interests, take such action as may be necessary to obtain, if reasonably possible, the complete release of such Member from such obligations and to obtain the release of any and all assets of such Member which may have been pledged as collateral in conjunction therewith. If such release cannot be obtained, the Company and the other electing Members shall indemnify such dissolved or bankrupt Member with respect to such obligations.
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Release of Personal Liability. By execution of this Agreement, each of the Common Representative, the Second Priority Indenture Trustee, the Second Priority Collateral Trustee and the First Priority Indenture Trustee acknowledge and agree that none of the members of the Board of Directors, officers or representatives of the Company shall have or assume any liability in respect of the Company’s obligations arising from the execution of this Agreement under the provisions of Article 233, in relation with Article 229, paragraph (V), of the General Law of Commercial Organizations (Ley General de Sociedades Mercantiles). Consequently, each such person is released from such liability, with the broadest release that may be granted pursuant to applicable law, without any of the Common Representative, the Second Priority Indenture Trustee, the Second Priority Collateral Trustee or the First Priority Indenture Trustee reserving any action against them for such liability, which is hereby expressly and irrevocably waived. SIGNATURES
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Release of Personal Liability. Shareholders have executed instruments by which they have personally guarantied payment of Company's indebtedness to Finova. Within thirty (30) days after the closing, Purchaser will cause Shareholders to be released from liability to Finova for any indebtedness of Company or Purchaser, whether incurred prior to or after the Closing.
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Release of Personal Liability. 50 Section 4.21. Monthly Financial Information ............................... 50 Section 4.22. Mail Received After the Closing ............................. 51 Section 4.23. Use of Trademarks ........................................... 51
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Release of Personal Liability. Promptly after the Closing, Cendant, the Buyer or the Sub shall use its reasonable best efforts to obtain releases of the Seller Shareholders from all "Personal Liability Creditors" of the Business. As used herein, the term "Personal Liability Creditors" shall mean the creditors of the Business which at the Closing are owed money or a duty which is an Assumed Liability for which either or both Seller Shareholders have or may have personal liability, including but not limited to the Real Property Leases or equipment lessors and parties extending loans or other credit lines in the name of or otherwise utilized by the Seller and which shall be set forth on Section 4.20 of the Seller Disclosure Schedule. If and to the extent the releases set forth on Section 4.20 of the Seller Disclosure Schedule are not obtained, Cendant, the Buyer or the Sub shall indemnify and hold harmless the Seller Shareholders for any amounts due to such Personal Liability Creditors.
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Related to Release of Personal Liability

  • Limitation of Personal Liability All the parties hereto acknowledge and agree that all liabilities of the Trust arising, directly or indirectly, under this Agreement, of any and every nature whatsoever, shall be satisfied solely out of the assets of the Fund and that no Trustee, officer or holder of shares of beneficial interest of the Trust shall be personally liable for any of the foregoing liabilities. The Trust Instrument describes in detail the respective responsibilities and limitations on liability of the Trustees, officers and holders of shares of beneficial interest of the Trust.

  • Status of Shares and Limitation of Personal Liability Shares shall be deemed to be personal property giving only the rights provided in this instrument and the By-Laws of the Trust. Every Shareholder by virtue of having become a Shareholder shall be held to have expressly assented and agreed to the terms hereof. The death of a Shareholder during the existence of the Trust shall not operate to terminate the Trust, nor entitle the representative of any deceased Shareholder to an accounting or to take any action in court or elsewhere against the Trust or the Trustees, but shall entitle such representative only to the rights of said deceased Shareholder under this Declaration of Trust. Ownership of Shares shall not entitle a Shareholder to any title in or to the whole or any part of the Trust Property or right to call for a partition or division of the same or for an accounting, nor shall the ownership of Shares constitute the Shareholders as partners or joint venturers. Neither the Trust nor the Trustees, nor any officer, employee or agent of the Trust shall have any power to bind personally any Shareholder, or to call upon any Shareholder for the payment of any sum of money or assessment whatsoever other than such as the Shareholder may at any time agree to pay.

  • Personal Liability 14.1 In the case of a Fund organized as a Massachusetts business trust, a copy of the Declaration of Trust of the Fund is on file with the Secretary of The Commonwealth of Massachusetts, and notice is hereby given that this instrument is executed on behalf of the Board of Trustees of the Fund as Trustees and not individually and that the obligations of this instrument are not binding upon any of the Trustees or shareholders individually but are binding only upon the assets and property of the Fund; provided, however, that the Declaration of Trust of the Fund provides that the assets of a particular Series of the Fund shall under no circumstances be charged with liabilities attributable to any other Series of the Fund and that all persons extending credit to, or contracting with or having any claim against, a particular Series of the Fund shall look only to the assets of that particular Series for payment of such credit, contract or claim.

  • Limits on Personal Liability (a) Except as otherwise provided in this Section 9, Borrower shall have no personal liability under this Note, the Security Instrument or any other Loan Document for the repayment of the Indebtedness or for the performance of any other obligations of Borrower under the Loan Documents and Xxxxxx's only recourse for the satisfaction of the Indebtedness and the performance of such obligations shall be Lender's exercise of its rights and remedies with respect to the Mortgaged Property and to any other collateral held by Lender as security for the Indebtedness. This limitation on Borrower's liability shall not limit or impair Lender's enforcement of its rights against any guarantor of the Indebtedness or any guarantor of any other obligations of Borrower.

  • No Personal Liability Reference is hereby made to the Declaration of Trust establishing the Fund, a copy of which has been filed with the Secretary of the State of Delaware and elsewhere as required by law, and to any and all amendments thereto so filed with the Secretary of the State of Delaware and elsewhere as required by law, and to any and all amendments thereto so filed or hereafter filed. The name “Virtus Opportunities Trust” refers to the Trustees under said Declaration of Trust, as Trustees and not personally, and no Trustee, shareholder, officer, agent or employee of the Fund shall be held to any personal liability in connection with the affairs of the Fund; only the trust estate under said Declaration of Trust is liable. Without limiting the generality of the foregoing, neither the Subadviser nor any of its officers, directors, partners, shareholders or employees shall, under any circumstances, have recourse or cause or willingly permit recourse to be had directly or indirectly to any personal, statutory, or other liability of any shareholder, Trustee, officer, agent or employee of the Fund or of any successor of the Fund, whether such liability now exists or is hereafter incurred for claims against the trust estate.

  • Limitation on Personal Liability All parties to this Agreement acknowledge and agree that the Trust is a series trust and all debts, liabilities, obligations and expenses incurred, contracted for or otherwise existing with respect to a particular series shall be enforceable against the assets held with respect to such series only, and not against the assets of the Trust generally or against the assets held with respect to any other series and further that no Trustee, officer or holder of shares of beneficial interest of the Trust shall be personally liable for any of the foregoing.

  • NO PERSONAL LIABILITY CONFERRED This Agreement shall not create or permit any personal liability or obligation on the part of any officer, director, partner, employee or shareholder of the Operating Partnership or the Contributor.

  • No Additional Liability Nothing in this Coordination Agreement shall impose any liability or obligation on the part of any party to this Coordination Agreement to make any payment or disbursement in addition to any liability or obligation such party has under the Program Documents, except to the extent that a party has actually received funds which it is obligated to disburse pursuant to this Coordination Agreement.

  • Professional Liability Before commencing work on this Agreement and throughout the term of this Agreement, the Party shall procure and maintain professional liability insurance for any and all services performed under this Agreement, with minimum coverage of $1,000,000 per occurrence, and $3,000,000 aggregate.

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