Common use of Immunity of Incorporators Shareholders Officers and Directors Clause in Contracts

Immunity of Incorporators Shareholders Officers and Directors. Liability Solely Corporate. No recourse shall be had for --------------------------- the payment of the principal of or premium, if any, or interest, if any, on any Securities, or any part thereof, or for any claim based thereon or otherwise in respect thereof, or of the indebtedness represented thereby, or upon any obligation, covenant or agreement under this Indenture, against any incorporator, shareholder, officer or director, as such, past, present or future of the Company or of any predecessor or successor corporation (either directly or through the Company or a predecessor or successor corporation), whether by virtue of any constitutional provision, statute or rule of law, or by the enforcement of any assessment or penalty or otherwise; it being expressly agreed and understood that this Indenture and all the Securities are solely corporate obligations, and that no personal liability whatsoever shall attach to, or be incurred by, any incorporator, shareholder, officer or director, past, present or future, of the Company or of any predecessor or successor corporation, either directly or indirectly through the Company or any predecessor or successor corporation, because of the indebtedness hereby authorized or under or by reason of any of the obligations, covenants or agreements contained in this Indenture or in any of the Securities or to be implied herefrom or therefrom, and that any such personal liability is hereby expressly waived and released as a condition of, and as part of the consideration for, the execution of this Indenture and the issuance of the Securities. ------------------------- This instrument may be executed in any number of counterparts, each of which so executed shall be deemed to be an original, but all such counterparts shall together constitute but one and the same instrument.

Immunity of Incorporators Shareholders Officers and Directors. Liability Solely Corporate. No recourse shall be had for --------------------------- the payment of the principal of of, or premium, if any, or interest, if any, on any Securities, or Security of any part thereofseries, or for any claim based thereon or otherwise in respect thereof, or of the indebtedness represented therebythereon, or upon any obligation, covenant or agreement under of this Indenture, against any incorporator, shareholder, officer or director, as such, past, present or future future, of either Company or the Company Guarantor or of any predecessor or successor corporation (of either Company or the Guarantor, either directly or indirectly through the either Company or a predecessor the Guarantor or any successor corporation)corporation of either Company or the Guarantor, whether by virtue of any constitutional provisionconstitution, statute or rule of law, law or by the enforcement of any assessment or of penalty or otherwise; it being expressly agreed and understood that this Indenture and all the Securities of each series are solely corporate obligations, and that no personal liability whatsoever whatever shall attach to, or be is incurred by, any incorporator, shareholder, officer or director, past, present or future, of either Company or the Company Guarantor or of any predecessor successor corporation of either Company or successor corporationthe Guarantor, either directly or indirectly through the either Company or the Guarantor or any predecessor successor corporation of either Company or successor corporationthe Guarantor, because of the incurring of the indebtedness hereby authorized or under or by reason of any of the obligations, covenants or agreements contained in this Indenture or in any of the Securities of any series, or to be implied herefrom or therefrom, ; and that any all such personal liability is hereby expressly released and waived and released as a condition of, and as part of the consideration for, the execution of this Indenture and the issuance of the Securities. ------------------------- This instrument may be executed in any number Securities of counterparts, each of which so executed shall be deemed to be an original, but all such counterparts shall together constitute but one and the same instrumentseries.

Immunity of Incorporators Shareholders Officers and Directors. Liability Solely Corporate. No recourse shall be had for --------------------------- the payment of the principal of of, or premium, if any, or interest, if any, on any Securities, or Security of any part thereofseries, or for any claim based thereon or otherwise in respect thereof, or of the indebtedness represented therebythereon, or upon any obligation, covenant or agreement under of this Indenture, against any incorporator, shareholder, officer or director, as such, past, present or future future, of either Company or the Company Guarantor or of any predecessor or successor corporation (of either Company or the Guarantor, either directly or indirectly through the either Company or a predecessor the Guarantor or any successor corporation)corporation of either Company or the Guarantor, whether by virtue of any constitutional provisionconstitution, statute or rule of law, law or by the enforcement of any assessment or of penalty or otherwise; it being expressly agreed and understood that this Indenture and all the Securities of each series are solely corporate obligations, and that no personal liability whatsoever shall attach to, or be is incurred by, any incorporator, shareholder, officer or director, past, present or future, of either Company or the Company Guarantor or of any predecessor successor corporation of either Company or successor corporationthe Guarantor, either directly or indirectly through the either Company or the Guarantor or any predecessor successor corporation of either Company or successor corporationthe Guarantor, because of the incurring of the indebtedness hereby authorized or under or by reason of any of the obligations, covenants or agreements contained in this Indenture or in any of the Securities of any series, or to be implied herefrom or therefrom, ; and that any all such personal liability is hereby expressly released and waived and released as a condition of, and as part of the consideration for, the execution of this Indenture and the issuance of the Securities. ------------------------- This instrument may be executed in any number Securities of counterparts, each of which so executed shall be deemed to be an original, but all such counterparts shall together constitute but one and the same instrumentseries.

Immunity of Incorporators Shareholders Officers and Directors. Liability Solely CorporateSECTION 1301. Immunity of Incorporators, Shareholders, Officers and Directors. No recourse shall be had for --------------------------- the payment under or upon any obligation, covenant or agreement of the principal of or premium, if anythis Indenture, or interest, if any, on of any Securities, or any part thereofSecurity, or for any claim based thereon or otherwise in respect thereof, or of the indebtedness represented thereby, or upon any obligation, covenant or agreement under this Indenture, shall be had against any incorporator, shareholder, officer or director, as such, past, present or future future, of the Company Company, the Guarantor or of any predecessor or successor corporation (corporation, either directly or through the Company or a predecessor or successor corporation)the Guarantor, whether by virtue of any constitutional provisionconstitution, statute or rule of law, or by the enforcement of any assessment or penalty or otherwise; it being expressly agreed and understood that this Indenture and all the Securities obligations issued hereunder are solely corporate obligations, and that no personal liability whatsoever whatever shall attach to, or is or shall be incurred by, the incorporators, shareholders, officers or directors, as such, of the Company, the Guarantor or any successor corporation, or any of them, because of the creation of the indebtedness hereby authorized, or under or by this Indenture or in any of the Securities or implied therefrom; and that any and all such personal liability of every name and nature, either at common law or in equity or by constitution or statute, of, and any and all such rights and claims against, every such incorporator, shareholder, officer or director, past, present or future, of the Company or of any predecessor or successor corporation, either directly or indirectly through the Company or any predecessor or successor corporationas such, because of the creation of the indebtedness hereby authorized authorized, or under or by reason of any of the obligations, covenants or agreements contained in this Indenture or in any of the Securities or to be implied herefrom or therefrom, and that any such personal liability is therefrom are hereby expressly waived and released as a condition of, and as part of the a consideration for, the execution of this Indenture and the issuance issue of the such Securities. ------------------------- This instrument may be executed in any number of counterparts, each of which so executed shall be deemed to be an original, but all such counterparts shall together constitute but one and the same instrument.