Borrower Obligation. Each of the Agent, the Secured Parties, the Guarantor and the Lender accepts that the enforcement against the Borrower under this Loan Agreement and under the Loan shall be limited to the assets of the Borrower, whether tangible or intangible, real or personal (including the Collateral) and the proceeds thereof. No recourse may be taken, directly or indirectly, against (a) any member, manager, officer, employee, trustee, agent or director of the Borrower or of any predecessor of the Borrower, (b) any member, manager, beneficiary, officer, employee, trustee, agent, director or successor or assign of a holder of a member or limited liability company interest in the Borrower, or (c) any incorporator, subscriber to capital stock, stockholder, officer, director, employee or agent of the Agent or any predecessor or successor thereof, with respect to the Borrower’s obligations with respect to the Loan or any of the statements, representations, covenants, warranties or obligations of the Borrower under this Loan Agreement or the Loan Note or other writing delivered in connection herewith or therewith.
Borrower Obligation. No recourse may be taken, directly or indirectly, with respect to the obligations of the Borrower or the Lender under this Agreement or any certificate or other writing delivered in connection herewith or therewith, against (i) the Lender in its individual capacity, (ii) any owner of a beneficial interest in the Borrower or (iii) any partner, owner, beneficiary, agent, officer, director, employee or agent of the Lender in its individual capacity, any holder of a beneficial interest in the Borrower or the Lender or of any successor or assign of the Lender in its individual capacity, except as any such Person may have expressly agreed (it being understood that the Lender has no such obligations in their individual capacity) and except that any such partner, owner or beneficiary shall be fully liable, to the extent provided by applicable law, for any unpaid consideration for stock, unpaid capital contribution or failure to pay any installment or call owing to such entity. For all purposes of this Agreement, the performance of any duties or obligations of the Borrower hereunder shall be subject to, and entitled to the benefits of, the terms and provisions of the Limited Liability Company Agreement.
