No Recourse; No Petition Sample Clauses

No Recourse; No Petition. No recourse may be taken, directly or indirectly, with respect to the obligations of the Issuer, on the Certificates or under this Agreement or any certificate or other writing delivered in connection herewith or therewith, against:
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No Recourse; No Petition. (a) Each of the parties hereto hereby covenants and agrees that:
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No Recourse; No Petition. (a) The Collateral Manager hereby acknowledges and agrees that the Issuer’s obligations hereunder will be solely the corporate obligations of the Issuer, and the Collateral Manager will not have any recourse to any of the direct or indirect directors, officers, employees, holders of Issuer membership interests, members, managers or Affiliates of the Issuer with respect to any claims, losses, damages, liabilities, indemnities or other obligations in connection with any transactions contemplated hereby. Notwithstanding any other provision hereof, the Collateral Manager agrees that recourse in respect of any obligations of the Issuer hereunder will be limited to the proceeds of the Assets as applied in accordance with the Priority of Payments under the Indenture, and on the exhaustion thereof all obligations of, and claims against, the Issuer arising from this Agreement or any transactions contemplated hereby shall be extinguished and shall not thereafter revive. It is further understood that the foregoing provisions shall not limit the right of the Collateral Manager to name the Issuer as a party defendant in any action or suit or in the exercise of any other remedy hereunder, so long as no judgment seeking personal or other liability, in either case other than to the extent of the foregoing limited recourse provision, shall be asked for or (if obtained) enforced against any such Person or entity.
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No Recourse; No Petition. 30.1 No recourse under any obligation, covenant, or agreement of the Issuer contained in this Agreement shall be held against any Senior Person of the Issuer. Any personal liability of a Senior Person of the Issuer is explicitly excluded and the Parties (other than the Issuer) waive such personal liability regardless of whether it is based on law or agreement.
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Related to No Recourse; No Petition

  • No Recourse Against Others A director, officer, employee or stockholder, as such, of the Company shall not have any liability for any obligations of the Company under the Securities or the Indenture or for any claim based on, in respect of or by reason of such obligations or their creation. Each Securityholder by accepting a Security waives and releases all such liability. The waiver and release are part of the consideration for the issue of the Securities.

  • No Recourse The Certificateholder by accepting a Certificate acknowledges that the Certificate represents a beneficial interest in the Trust only and does not represent interests in or obligations of the Seller, the Servicer, the Owner Trustee, the Trustee, or any Affiliate thereof and no recourse may be had against such parties or their assets, except as may be expressly set forth or contemplated in this Agreement, the Certificate or the Basic Documents.

  • No Petition The Indenture Trustee, by entering into this Indenture, and each Noteholder, by accepting a Note, hereby covenant and agree that they will not at any time institute against the Depositor or the Issuing Entity, or join in any institution against the Depositor or the Issuing Entity of, any involuntary bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings, or other proceedings under any United States federal or state bankruptcy or similar law in connection with any obligations relating to the Notes, this Indenture or any of the Basic Documents.

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