Common use of Lessor Obligations Nonrecourse; Payment from Certain Lease Obligations and Certain Proceeds of Leased Property Only Clause in Contracts

Lessor Obligations Nonrecourse; Payment from Certain Lease Obligations and Certain Proceeds of Leased Property Only. All payments to be made by the Lessor in respect of the Loans, the Note and this Loan Agreement shall be made only from certain payments received under the Lease, the Guaranty Agreement, and the Construction Agency Agreement and certain proceeds of the Leased Properties and only to the extent that the Lessor or the Agent shall have received sufficient payments from such sources to make payments in respect of the Loans in accordance with Section 3. Each Lender agrees that it will look solely to such sources of payments to the extent available for distribution to such Lender as herein provided and that neither the Lessor nor the Agent is or shall be personally liable to any Lender for any amount payable hereunder or under the Note. Nothing in this Loan Agreement, the Note or any other Operative Document shall be construed as creating any liability (other than for willful misconduct or gross negligence) of the Lessor individually to pay any sum or to perform any covenant, either express or implied, in this Loan Agreement, the Notes or any other Operative Documents (all such liability, if any, being expressly waived by each Lender) and that each Lender, on behalf of itself and its successors and assigns, agrees in the case of any liability of the Lessor hereunder or thereunder (except for such liability attributable to its willful misconduct or gross negligence) that it will look solely to those certain payments received under the Lease, the Guaranty Agreement and the Construction Agency Agreement and those certain proceeds of the Leased Properties, provided, however, that the Lessor in its individual capacity shall in any event be liable with respect to (i) the removal of Lessor's Liens or involving its gross negligence or willful misconduct or (ii) failure to turn over payments the Lessor has received in accordance with Section 3; and provided further that the foregoing exculpation of the Lessor shall not be deemed to be exculpations of the Guarantor, any Lessee or any other Person.

Appears in 2 contracts

Samples: Loan Agreement (Choicepoint Inc), Loan Agreement (Choicepoint Inc)

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Lessor Obligations Nonrecourse; Payment from Certain Lease Obligations and Certain Proceeds of Leased Property Only. All payments to be made by the Lessor in respect of the Loans, the Note Notes and this Loan Agreement shall be made only from certain payments received under the Lease, the Guaranty Agreement, the Subsidiary Guaranty and the Construction Agency Agreement and certain proceeds of the Leased Properties and only to the extent that the Lessor or the Agent shall have received sufficient payments from such sources to make payments in respect of the Loans in accordance with Section 3. Each Lender agrees that it will look solely to such sources of payments to the extent available for distribution to such Lender as herein provided and that neither the Lessor nor the Agent is or shall be personally liable to any Lender for any amount payable hereunder or under the any Note. Nothing in this Loan Agreement, the Note Notes or any other Operative Document shall be construed as creating any liability (other than for willful misconduct or gross negligence) of the Lessor individually to pay any sum or to perform any covenant, either express or implied, in this Loan Agreement, the Notes or any other Operative Documents (all such liability, if any, being expressly waived by each Lender) and that each Lender, on behalf of itself and its successors and assigns, agrees in the case of any liability of the Lessor hereunder or thereunder (except for such liability attributable to its willful misconduct or gross negligence) that it will look solely to those certain payments received under the Lease, the Guaranty Agreement Agreement, the Subsidiary Guaranty and the Construction Agency Agreement and those certain proceeds of the Leased Properties, provided, however, that the Lessor in its individual capacity shall in any event be liable with respect to (i) the removal of Lessor's Liens or involving its gross negligence negligence, willful misconduct, misrepresentation or willful misconduct breach of contract (other than the failure to make payments in respect of the Loans) or (ii) failure to turn over payments the Lessor has received in accordance with Section 3Article VI of the Master Agreement; and provided further that the foregoing exculpation of the Lessor shall not be deemed to be exculpations of the Guarantor, any Lessee or any other Person.

Appears in 1 contract

Samples: Loan Agreement (Concord Efs Inc)

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Lessor Obligations Nonrecourse; Payment from Certain Lease Obligations and Certain Proceeds of Leased Property Only. All payments to be made by the Lessor in respect of the LoansLoan, the Note and this Loan Agreement shall be made only from certain payments received under the Lease, the Guaranty Agreement, and the Construction Agency Agreement Lease and certain proceeds of the Leased Properties Property and only to the extent that the Lessor or the Agent Lender shall have received sufficient payments from such sources to make payments in respect of the Loans Loan in accordance with Section 3. Each The Lender agrees that it will look solely to such sources of payments to the extent available for distribution to such the Lender as herein provided and that neither the Lessor nor the Agent is any of its members or other Affiliates, or JH Management Corporation, or any of their respective incorporators, stockholders, directors, employees, officers or agents, shall be personally liable to any the Lender for any amount payable hereunder or under the Note. Nothing in this Loan Agreement, the Note or any other Operative Document shall be construed as creating any liability (other than for willful misconduct or gross negligencemisconduct) of the Lessor individually to pay any sum or to perform any covenant, either express or implied, in this Loan Agreement, the Notes Note or any other Operative Documents Document (all such liability, if any, being expressly waived by each the Lender) and that each ). The Lender, on behalf of itself and its successors and assigns, agrees in the case of any liability of the Lessor hereunder or thereunder under any of the Operative Documents (except for such liability attributable to its willful misconduct or gross negligencemisconduct) that it will look solely to those certain payments received under the Lease, the Guaranty Agreement and the Construction Agency Agreement Lease and those certain proceeds of the Leased Properties, Property; provided, however, that the Lessor in its individual capacity (but not the Lessor, its members or other Affiliates, or JH Management Corporation, or any of their respective incorporators, stockholders, directors, employees, officers and agents) shall in any event be liable with respect to (i) the removal of Lessor's Liens or liabilities involving its gross negligence or willful misconduct or (ii) failure to turn over payments the Lessor has received in accordance with Section 3; and provided provided, further that the foregoing exculpation of the Lessor shall not be deemed to be exculpations of the Guarantor, any Lessee or any other Person.

Appears in 1 contract

Samples: Loan Agreement (Eagle Usa Airfreight Inc)

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