Obligations Are Without Recourse. The provisions of the Participation Agreement relating to limitations on liability are hereby incorporated by reference herein, Mutatis Mutandis.
Obligations Are Without Recourse. Anything in this Agreement to the contrary notwithstanding, the Borrower's liability hereunder shall be limited as provided in Section 9.17 of the Credit Agreement.
Obligations Are Without Recourse. Anything to the contrary herein notwithstanding, the Assignor's liability for any sums due hereunder shall be limited in accordance with Section 9.14 of the Credit Agreement.
Obligations Are Without Recourse. Anything to the contrary contained in this Security Agreement, the Credit Agreement, the Notes or in any other Operative Agreement notwithstanding, neither the Borrower nor the Holders nor any officer, director, partner or shareholder of any thereof, nor any of the Borrower's successors or assigns (all such Persons being hereinafter referred to collectively as the "Exculpated Persons"), shall be personally liable in any respect for any liability or obligation arising hereunder or in any other Operative Agreement, including without limitation the payment of the principal of, or interest on, the Notes, or for monetary damages for the breach of performance of any of the covenants contained in the Credit Agreement, the Notes, this Security Agreement or any of the other Operative Agreements. The Agent, on behalf of itself and the Lenders, agrees that, in the event any of them pursues any remedies available to them under the Credit Agreement, the Notes, this Security Agreement, or under any other Operative Agreement, neither the Agent nor the Lenders shall have any recourse against the Borrower, nor any Exculpated Person, for any deficiency, loss or claim for monetary damages or otherwise resulting therefrom, and recourse shall be had solely and exclusively against the Trust Estate or the Lessee; but nothing contained herein shall be taken to prevent recourse against or the enforcement of remedies against the Trust Estate in respect of any and all liabilities, obligations and undertakings contained in this Security Agreement, the Credit Agreement, the Notes or in any other Operative Agreement. Notwithstanding the provisions of this paragraph, nothing in this Security Agreement, the Credit Agreement, the Notes or any other Operative Agreement shall: (i) constitute a waiver, release or discharge of any indebtedness or obligation evidenced by the Notes or arising under this Security Agreement or the Credit Agreement or secured by this Security Agreement, but the same shall continue until paid or discharged; (ii) relieve the Borrower from liability and responsibility for (but only to the extent of the damages arising by reason of): (a) active waste knowingly committed by the Borrower with respect to any of the Properties or (b) any fraud on the part of the Borrower or any
Obligations Are Without Recourse. 10 21.Partial Release; Full Release....................................................10 22.Miscellaneous....................................................................10 23.Conflicts with Participation Agreement...........................................11 24.LESSEE as a Party................................................................11 SECURITY AGREEMENT This SECURITY AGREEMENT, dated as of October 19, 2000 (as amended, modified, extended, supplemented, restated and/or replaced from time to time, this "Security Agreement"), is made between FIRST SECURITY BANK, NATIONAL ASSOCIATION, a national banking association, as Owner Trustee under the Lexi Trust 2000-1 (the "Borrower"), and BANK OF AMERICA, N.A., a national banking association ("Bank"), as agent for (a) the Lenders (hereinafter defined) under the Credit Agreement dated as of October 19, 2000 (as amended, modified, extended, supplemented, restated and/or replaced from time to time, the "Credit Agreement") by and among the Borrower, the lending institutions from time to time parties thereto (the "Lenders") and Bank as the agent for the Lenders and (b) the holders of the certificates issued pursuant to the Trust Agreement dated as of October 19, 2000 (as amended, modified, extended, supplemented, restated and/or replaced from time to time, the "Trust Agreement") among the holders from time to time parties thereto (the "Holders") and the Borrower, in its individual capacity thereunder and in its capacity as Owner Trustee thereunder. The Agent, the Lenders and the Holders, together with their successors and permitted assigns, are collectively referred to hereinafter as the "Secured Parties", Bank, in its capacity as agent for the Secured Parties is referred to hereinafter as the "Agent", and this Security Agreement is accepted and agreed to by LEXICON GENETICS INCORPORATED, a Delaware corporation.
Obligations Are Without Recourse. Notwithstanding anything to the contrary contained in this Agreement, no recourse shall be had against any Member, whether by levy or execution or otherwise, for the payment of any loans or other payments due or for any other claim under this Agreement or based on the failure of performance or observance of any of the terms and conditions of this Agreement against such Member, the partners, members or shareholders of such Member or any predecessor, successor or Affiliate of such Member or any of their respective assets other than such Member's Interest or any undistributed Net Ordinary Cash Flow or Net Extraordinary Cash Flow due or to become due to such Member (collectively, "Undistributed Income") or against any principal, partner, shareholder, member, controlling person, officer, director, agent or employee of any of the aforesaid Persons, or board members, trustees or beneficiaries of a pension plan, under any rule of law, statute or constitution, or by the enforcement of any assessment or penalty, or otherwise, nor shall any of such Persons be personally liable for any contributions, loans, payments or claims, or liable for any deficiency judgment based thereon or with respect thereto, it being expressly understood that the sole remedies of the LLC or any Member with respect to such amounts and claims shall be against such Interest and such Member's Undistributed Income, and that all such liability of the aforesaid Persons, except as expressly provided in this Section 14.05, is expressly waived and released as a condition of, and as consideration for, the execution of this Agreement; provided, that nothing contained in this Agreement (including, without limitation, the provisions of this Section 14.05), (a) shall constitute a waiver of any obligation of a Member under this Agreement, (b) shall be taken to prevent recourse to and the enforcement against such Interest and Undistributed Income for all of the respective liabilities, obligations, and undertakings of the aforesaid Persons contained in this Agreement, (c) shall be taken to prevent recourse to and the enforcement against (i) a transferring Member of its liabilities, obligations and undertakings contained in any instrument of assignment or indemnity delivered in connection with such transfer (but such recourse shall be limited to the proceeds received by such transferring Member in connection with the assignment to the purchasing Member (or its designee)), (ii) any security delivered by any of...
Obligations Are Without Recourse. Anything to the contrary herein notwithstanding, the Assignor's liability for any sums due hereunder shall be limited in accordance with Section 9.8 of the Indenture.
Obligations Are Without Recourse. The provisions of the Participation Agreement relating to limitations on liability of the Borrower are hereby incorporated by reference herein, Mutatis Mutandis.
Obligations Are Without Recourse. 21. Partial Release; Full Release.
Obligations Are Without Recourse. Anything in this Agreement to the contrary notwithstanding, the Lessor's liability hereunder shall be limited as provided in Section 9.8 of the Indenture.
