Common use of Incorporators, Stockholders, Officers Clause in Contracts

Incorporators, Stockholders, Officers. and Directors of Company are Exempt from Individual Liability. No recourse under or upon any obligation, covenant or agreement of this Agreement, or of any Warrant, or for any claim based thereon or otherwise in respect thereof, shall be had against any incorporator, stockholder, officer or director, as such, past, present or future, of the Company, either directly or though the Company, whether by virtue of any constitution, statute or rule of law, or by the enforcement of any assessment or penalty or otherwise; it being expressly understood that this Agreement and the Warrants issued hereunder are solely corporate obligations, and that no personal liability whatever shall attach to, or is or shall be incurred by, the incorporators, stockholders, officers or directors, as such, of the Company because of the creation of the indebtedness hereby authorized, or under or by reason of the obligations, covenants or agreements contained in this Agreement or in any of the Warrants 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, stockholder, officer or director, as such, because of the creation of the obligations hereby authorized, or under or by reason of the obligations, covenants or agreements contained in this Agreement or in any of the Warrants or implied therefrom are hereby expressly waived and released as a condition of, and as a consideration for, the execution of this Agreement and the issuance of such Warrants.

Incorporators, Stockholders, Officers. and Directors --------------------------------------------------- of Company are Exempt from Individual Liability. -------------------------------------------- No recourse under or upon any obligation, covenant or agreement of contained in this AgreementIndenture, or of in any WarrantSecurity, or for any claim based thereon or otherwise in respect thereof, or because of any indebtedness evidenced thereby, shall be had against any incorporator, as such, or against any past, present or future stockholder, officer or director, as such, past, present or future, of the CompanyCompany or of any successor, either directly or though through the CompanyCompany or any successor, whether by virtue of under any constitution, statute or rule of law, statute or constitutional provision or by the enforcement of any assessment or penalty by any legal or otherwise; equitable proceeding or otherwise it being expressly understood that this Agreement Indenture and the Warrants obligations issued hereunder are solely corporate obligations, and that no such personal liability whatever shall attach to, or is or shall be incurred by, the incorporators, stockholdersshareholders, officers or directors, as such, of the Company Company, or any of them, because of the creation of the indebtedness hereby authorized, or under or by reason of the obligations, covenants or agreements contained in this Agreement Indenture or in any of the Warrants Security 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, stockholdershareholder, officer or director, as such, because of the creation of the obligations indebtedness hereby authorized, or under or by reason of the obligations, covenants or agreements contained in this Agreement Indenture or in any of the Warrants Security or implied therefrom therefrom, are hereby expressly waived and released as a condition of, and as a consideration for, the execution of this Agreement Indenture and the issuance of such WarrantsSecurity.

Incorporators, Stockholders, Officers. and Directors of Company are and Guarantor Exempt from Individual Liability. No recourse under or upon any obligation, covenant or agreement of contained in this AgreementIndenture, or of in any WarrantSecurity, or for any claim based thereon or otherwise in respect thereof, or because of any indebtedness evidenced thereby, shall be had against any incorporator, as such, or against any past, present or future stockholder, officer or director, as such, past, present or future, of the CompanyCompany or the Guarantor or of any successor, either directly or though through the CompanyCompany or the Guarantor or any successor, whether by virtue of under any constitution, statute or rule of law, statute or constitutional provision or by the enforcement of any assessment or penalty by any legal or otherwise; equitable proceeding or otherwise it being expressly understood that this Agreement Indenture and the Warrants obligations issued hereunder are solely corporate obligations, and that no such personal liability whatever shall attach to, or is or shall be incurred by, the incorporators, stockholdersshareholders, officers or directors, as such, of the Company or the Guarantor, or any of them, because of the creation of the indebtedness hereby authorized, or under or by reason of the obligations, covenants or agreements contained in this Agreement Indenture or in any of the Warrants Security 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, stockholdershareholder, officer or director, as such, because of the creation of the obligations indebtedness hereby authorized, or under or by reason of the obligations, covenants or agreements contained in this Agreement Indenture or in any of the Warrants Security or implied therefrom therefrom, are hereby expressly waived and released as a condition of, and as a consideration for, the execution of this Agreement Indenture and the issuance of such WarrantsSecurity.