Borrower Exculpation Sample Clauses

Borrower Exculpation. Except as set forth below or as provided in the Guaranty, the Environmental Indemnity or the Limited Payment Guaranty, no trustee, beneficiary, partner, shareholder, director, officer, manger, owner or member of Borrower (other than a Guarantor) or any trustee, beneficiary, partner, shareholder, director, officer, manger, owner or member of a partner, shareholder or member of Borrower (other than a Guarantor), and no legal representative, heir or estate of any of the foregoing shall have any personal liability for (i) the payment of any sum of money which is or may be payable hereunder or under the Loan Documents, including the repayment of the indebtedness evidenced by the Note, or (ii) the performance or discharge of any covenants or undertakings of Borrower hereunder or under any of the Loan Documents. In the enforcement of any of its rights hereunder, Lender shall proceed solely against the assets of Borrower from time to time, and any other collateral given as security for payment of the Note or for payment or performance under the Loan Documents, and shall not seek any deficiency judgment.