Nonrecourse Obligation. Except as otherwise provided in this Article 12 or expressly stated in any of the other Loan Documents, Lender shall enforce the liability of Borrower to perform and observe the obligations contained in this Loan Agreement and in each other Loan Document only against the Property and other collateral given by Borrower as security for payment of the Loan and performance of Borrower’s obligations under the Loan Documents and not against Borrower or any of Borrower’s principals, directors, officers or employees. Notwithstanding the foregoing, this Section 12.01 is not applicable to the Environmental Indemnity or to any Guaranty executed in connection herewith.
Nonrecourse Obligation. Notwithstanding any other provision contained in this Contract to the contrary, if Purchaser defaults in Purchaser’s performance of this Contract, Seller’s sole remedy shall be to cancel this Contract in accordance with Minn. Stat. 559.21, as the same may from time to time be amended. Seller specifically waives any right it may have to commence an action for the specific performance of this Contract or any right it may have to seek an award of damages against Purchaser.
Nonrecourse Obligation. The Lender and the Borrower hereby agree that any and all amounts due hereunder or under the Note shall be payable solely from amounts, if any, distributed to the Borrower by the General Partner in respect of amounts released to the General Partner from the GP's Special Reserve as provided in the Partnership Agreement (amounts so distributed to the Borrower, "Released Amounts"). The Lender's sole recourse for payment of amounts due hereunder shall be to the Released Amounts, if any, and the Lender shall have no right or recourse to payment from any other source or from any other assets of the Borrower or any affiliate of the Borrower, and the Borrower shall have no obligation to repay amounts advanced hereunder or the interest thereon from any source of funds other than from the Released Amounts, if any. Borrower shall create and maintain in favor of the Lender a first priority security interest in the Released Amounts.
Nonrecourse Obligation. Notwithstanding any other term or provision hereof, Pledgor shall have no personal liability to pay any amounts due or to perform any obligations hereunder, Pledgee's sole recourse, in the event of default, shall be to proceed against the Collateral subject to this Pledge Agreement, and Pledgee shall not seek or obtain a deficiency judgment or order against Pledgor personally based upon the indebtedness secured hereby; provided, however, that nothing contained in this paragraph shall affect or impair the validity of the indebtedness evidenced by the Note or the lien of this Agreement, or the right of the Pledgee to proceed against the collateral subject to this Agreement following default in (a) the making of any payment required to be made pursuant to the Note, or (b) the performance of any of the obligations of Pledgor under the Note or this Agreement; and provided, further, that notwithstanding the foregoing, if Pledgee shall notify Pledgor after default that Pledgee proposes to retain the collateral subject to this Agreement in satisfaction of the obligations under the Note and Pledgor objects to such proposal or otherwise acts to prevent Pledgee's retention of such collateral, then Pledgor shall be and remain liable for any deficiencies remaining after disposition of such collateral in accordance with the Code and Pledgee may seek and obtain a deficiency judgment against Pledgor personally therefor.
Nonrecourse Obligation. Xxxxxx agrees that, regarding any claim against Landlord, including any claim of default by Landlord under this Lease or in any claim or cause of action arising under this Lease or arising out of the landlord-Lessee relationship created by this Lease, the sole and exclusive remedy of Lessee will be against the interests of Landlord in the Premises and its reversionary interest in the Improvements and Landlord will have no other liability hereunder. Lessee will not enforce any judgment against Landlord except against the interest of Xxxxxxxx in the Premises and its reversionary interest in the Improvements. In no event will any shareholder, member, partner, officer, employee, or agent of Landlord have any personal liability to Xxxxxx. Xxxxxx agrees that this provision will apply to any and all liabilities, claims, and causes of action whatsoever, including those based on any provision of this Lease, any implied covenant, or any statute or common-law principle. Notwithstanding any other provision of this Lease, in no event whatsoever will Landlord be responsible for any consequential or incidental damages or for any action that Landlord believes in good faith is necessary to comply with Legal Requirements with respect to the Premises or the Improvements.
Nonrecourse Obligation. Borrower shall not have any personal liability under this Note to pay the indebtedness evidenced under this Note, and any judgment, decree or order for the payment of money obtained in any action to enforce the obligation of Borrower to pay the City Loan shall be enforceable against Borrower only to the extent of Borrower’s interest in the Property. [signatures on next page]
Nonrecourse Obligation. Notwithstanding anything contained in this Agreement or elsewhere to the contrary, except as specifically provided hereinafter in this Section X, no judgment for the repayment of the indebtedness secured hereby or interest thereon will be enforced against the Debtors or either of them personally or any property of the Debtors or either of them other than the Collateral in any action to collect any amount payable hereunder or to enforce performance of any of the other provisions of this Agreement; provided, however:
Nonrecourse Obligation. (a) The obligations of the City under this Agreement:
Nonrecourse Obligation. Except as expressly provided in the second paragraph of this section, the Trustor, and the Trustor's partners, officers, directors, employees and agents shall not have any direct or indirect personal liability for payment of the principal of, or interest on, the Note or the performance of the covenants of the Trustor under the Deed of Trust securing the Note. The sole recourse of the Beneficiary with respect to the principal of, or interest on, the Note shall be to the property securing the indebtedness evidenced by the Note. However, that nothing contained in the foregoing limitation of liability shall (a) limit or impair the enforcement against all such security for the Note of all the rights and remedies of the Beneficiary, or (b) be deemed in any way to impair the right of the Beneficiary to assert the unpaid principal amount of the Note as demand for money within the meaning and intendment of Section 431.70 of the California Code of Civil Procedure or any successor provision thereto. The foregoing limitation of liability is intended to apply only to the obligation for the repayment of the principal of, and payment of interest on the Note, except as hereafter set forth; nothing contained herein is intended to relieve the Trustor of personal liability for (a) fraud or willful misrepresentation; (b) the failure to pay taxes, assessments or other charges (which are not contested by Trustor in good faith) which may create liens on the Property that are payable or applicable prior to any foreclosure under the Deed of Trust (to the full extent of such taxes, assessments or other charges); (c) the fair market value of any personal property or fixtures removed or disposed of by Trustor other than in accordance with the Deed of Trust; (d) the misapplication of any proceeds under any insurance policies or awards resulting from condemnation or the exercise of the power of eminent domain or by reason of damage, loss or destruction to any portion of the Property; (e) the Trustor's indemnification obligations under the Loan Agreement; and (f) payment to the Beneficiary of any rental income or other income arising with respect to the Property received by the Trustor after the Beneficiary has given notice to the Trustor of the occurrence of an Event of Default, subject to the rights of any lender providing a loan secured by the Property to which the Beneficiary has subordinated the Deed of Trust. Notwithstanding anything to the contrary contained herein or in any docu...
Nonrecourse Obligation. This agreement is nonrecourse to Pledgor. Secured Party agrees to look solely to Borrower and others obligated for the payment of any of the Secured Obligation and any other assurances or security for the payment of any of the Secured Obligation, including, without limitation, the Collateral, and not to seek any personal judgment or other recourse against Pledgor or any of its assets (other than the Collateral) for any of the Secured Obligation.
