Common use of Limitation of Issuer’s Liability Clause in Contracts

Limitation of Issuer’s Liability. No agreements or provisions contained in this Agreement nor any agreement, covenant or undertaking by the Issuer contained in any document executed by the Issuer in connection with any property of the Company financed, directly or indirectly, out of the Bond proceeds or the issuance, sale and delivery of the Bonds will give rise to any pecuniary liability of the Issuer, its officials, employees, agents or members of its governing body or constitute a charge against the Issuer’s general credit, or will obligate the Issuer financially in any way, except with respect to the Basic Rent available under the Lease and the Indenture provided by the Company and pledged to the payment of the Bonds, and their application as provided under the Indenture. No failure of the Issuer to comply with any terms, covenants or agreements in this Agreement or in any document executed by the Issuer in connection with the Bonds will subject the Issuer, its officials, employees, agents and members of its governing body to any pecuniary charge or liability except to the extent that the same can be paid or recovered from the funds available under the Lease or the Indenture provided by the Company and pledged to the payment of the Bonds. None of the provisions of the Bond Documents will require the Issuer to expend or risk its own funds or to otherwise incur financial liability in the performance of any of its duties or in the exercise of any of its rights or powers under the Bond Documents. Nothing in this Agreement will preclude a proper party in interest from seeking and obtaining, to the extent permitted by law, specific performance against the Issuer for any failure to comply with any term, condition, covenant or agreement in any of the Bond Documents; provided, that no costs, expenses or other monetary relief will be recoverable from the Issuer except as may be payable from the funds available under the Lease or the Indenture provided by the Company and pledged to the payment of the Bonds.

Limitation of Issuer’s Liability. No agreements or provisions contained in this Agreement herein nor any agreement, covenant or undertaking by of the Issuer contained in any document Financing Document executed by the Issuer in connection with any property of the Company financed, directly or indirectly, out of the Bond proceeds or the issuance, sale and delivery of the Bonds will shall give rise to any pecuniary liability of the Issuer, its officials, employees, agents Issuer or members a general obligation of its governing body or constitute a charge against the Issuer’s its general credit, credit or will shall obligate the Issuer financially in any way, except with respect to the Basic Rent funds available hereunder or under the Lease and the Indenture provided by the Company and pledged to the payment of the Bonds, and their application as provided under the Indenture. The Issuer has no taxing power. No failure of the Issuer to comply with any termsterm, covenants covenant or agreements in this Agreement agreement herein or in any document Financing Document executed by the Issuer in connection with the Bonds will shall subject the Issuer, its officials, employees, agents and members of its governing body Issuer to any pecuniary charge or liability except to the extent that the same can be paid or recovered from the funds available hereunder or under the Lease or the Indenture provided by the Company and pledged to the payment of the Bonds. None of the provisions of the Bond Documents will require the Issuer to expend or risk its own funds or to otherwise incur financial liability in the performance of any of its duties or in the exercise of any of its rights or powers under the Bond Documents. Nothing in this Agreement will herein shall preclude a proper party in interest from seeking and obtaining, to the extent permitted by law, specific performance against the Issuer for any failure to comply with any term, condition, covenant or agreement herein or in any of the Bond DocumentsIndenture; provided, that no costs, expenses or other monetary relief will shall be recoverable from the Issuer except as may be payable from the funds available hereunder or under the Lease or the Indenture provided by the Company and pledged to the payment of the Bonds. (a) the Issuer shall not be required to take action under this Loan Agreement unless the Issuer (1) is requested in writing by an appropriate Person to take such action and (2) is assured of payment of or reimbursement for any expense incurred in taking such action, and (b) except with respect to any action for specific performance or any action in the nature of a prohibitory or mandatory injunction, neither the Issuer nor any official, officer, member, director, agent, employee or servant of the Issuer shall be liable to the Corporation, the Trustee or any other Person for any action taken by the Issuer or by its officials, officers, members, directors, agents, employees or servants, or for any failure to take action under this Loan Agreement or the Indenture. In acting under this Loan Agreement, or in refraining from acting under this Loan Agreement, the Issuer may conclusively rely on the advice of its counsel.

Limitation of Issuer’s Liability. No agreements or provisions contained in this Agreement herein nor any agreement, covenant or undertaking by of the Issuer contained in any Financing Document or any certificate or other document delivered in connection therewith executed by the Issuer in connection with any property of the Company financed, directly or indirectly, out of the Bond proceeds or the issuance, sale and delivery of the Bonds will shall give rise to any pecuniary liability of the Issuer, its officials, employees, agents Issuer or members a general obligation of its governing body or constitute a charge against the Issuer’s its general credit, credit or will shall obligate the Issuer financially in any way, except with respect to the Basic Rent funds available hereunder or under the Lease and the Indenture provided by the Company and pledged to the payment of the Bonds, and their application as provided under the Indenture. No failure of the Issuer to comply with any termsterm, covenants covenant or agreements in this Agreement agreement herein or in any document Financing Document executed by the Issuer in connection with the Bonds will shall subject the Issuer, its officials, employees, agents and members of its governing body Issuer to any pecuniary charge or liability except to the extent that the same can be paid or recovered from the funds available hereunder or under the Lease or the Indenture provided by the Company and pledged to the payment of the Bonds. None of the provisions of the Bond Documents will require the Issuer to expend or risk its own funds or to otherwise incur financial liability in the performance of any of its duties or in the exercise of any of its rights or powers under the Bond Documents. Nothing in this Agreement will herein shall preclude a proper party in interest from seeking and obtaining, to the extent permitted by law, specific performance against the Issuer for any failure to comply with any term, condition, covenant or agreement herein or in any of the Bond DocumentsIndenture which requires performance solely by the Issuer; provided, that no costs, expenses or other monetary relief will shall be recoverable from the Issuer except as may be payable from the funds available hereunder or under the Lease or the Indenture provided by the Company and pledged to the payment of the Bonds. In construing the provisions of this Loan Agreement, the Company and the Trustee acknowledge that the Issuer is serving only in a conduit capacity and undertakes no responsibility with respect to the monitoring of Bond and/or Loan proceeds and money derived from other sources regarding the Loan, the Bonds and/or the Project.

Limitation of Issuer’s Liability. No covenant, agreement or obligation contained herein shall be deemed to be a covenant, agreement or obligation of any present or future director, officer, employee or agent of the Issuer in his or her individual capacity, and none of the members of the Issuer nor any officer thereof executing this Loan Agreement or the Bonds nor any member of the staff thereof shall be personally liable hereunder or on the Bonds or be subject to any personal liability or accountability by reason of the execution and delivery hereof and the issuance thereof. No present or future director, officer, employee or agent of the Issuer shall incur any personal liability with respect to any other action taken by him or her pursuant to this Loan Agreement or the Act. No agreements or provisions contained in this Loan Agreement nor any agreement, covenant or undertaking by the Issuer contained in any document executed by the Issuer in connection with any property of the Company financed, directly or indirectly, out of the Bond proceeds Project or the issuance, sale and delivery of the Bonds will shall constitute an indebtedness of the Issuer, the State or any political subdivision thereof, shall give rise to any pecuniary liability of the Issuer, its officialsthe State or any political subdivision thereof, employees, agents or members shall constitute a loan of its governing body credit or constitute a charge against the Issuer’s general creditcredit or taxing power of any of them, within the meaning of any Constitutional or statutory limitation, or will shall obligate the Issuer financially in any way, way except with respect to the Basic Rent available under the Lease this Loan Agreement and the Indenture provided by application of revenues herefrom and the Company and pledged to the payment proceeds of the Bonds, and their application as provided under the Indenture. No failure of the Issuer to comply with any termsterm, covenants condition, covenant or agreements in this Agreement agreement herein, or in any document executed by the Issuer in connection with the Bonds will issuance and sale of the Bonds, shall subject the IssuerIssuer to liability for any claim for damages, its officials, employees, agents and members of its governing body to any costs or other financial or pecuniary charge or liability except to the extent that the same can be paid or recovered from the funds available under the Lease this Loan Agreement or the Indenture provided by the Company and pledged to the payment revenues therefrom or proceeds of the Bonds. None of the provisions of the Bond Documents will require the Issuer to expend or risk its own funds or to otherwise incur financial liability in the performance of any of its duties or in the exercise of any of its rights or powers under the Bond Documents. Nothing in this Agreement will herein shall preclude a proper party in interest from seeking and obtaining, to the extent permitted by law, specific performance against the Issuer for any failure to comply with any term, condition, covenant or agreement in any of the Bond Documentsherein; provided, that no costs, expenses or other monetary relief will shall be recoverable from the Issuer except as may be payable from the funds available under the Lease this Loan Agreement or its revenues or the Indenture provided by proceeds of the Company and pledged to Bonds. No recourse shall be had for the payment of the principal of or premium or interest on any of the Bonds or for any claim based thereon or upon any obligation, covenant or agreement in this Loan Agreement contained against any past, present or future officer, director, member, employee or agent of the Issuer, or of any successor public corporation, as such either directly or through the Issuer or any successor public corporation, under any rule of law or equity, statute or constitution or by the enforcement of any assessment or penalty or otherwise, and all such liability of any such officers, directors, members, employees or agents as such is hereby expressly waived and released as a condition of and consideration for the execution of this Indenture, and the issuance of such Bonds, by the Issuer.

Limitation of Issuer’s Liability. No To the fullest extent permitted by law, no agreements or provisions contained in this Agreement the Bond Documents nor any agreement, covenant or undertaking by the Issuer contained in any document executed by the Issuer in connection with any property of the Company financed, directly or indirectly, out of proceeds of the Bond proceeds Bonds or the issuance, sale and delivery of the Bonds will give rise to any pecuniary liability of the Issuer, its officials, employees, agents or members of its governing body Governing Body or constitute a charge against the Issuer’s general credit, or will obligate the Issuer financially in any way, except with respect to the Basic Rent revenues available under the Lease and this Agreement or under the Indenture provided by the Company and pledged to the payment of the Bonds, and their application as provided under the Indenture. No failure of the Issuer to comply with any terms, covenants or agreements in this Agreement or in any document executed by the Issuer in connection with the Bonds will subject the Issuer, its officials, employees, agents and members of its governing body Governing Body to any pecuniary charge or liability except to the extent that the same can be paid or recovered from the funds revenues available under the Lease this Agreement or under the Indenture provided by the Company and pledged to the payment of the Bonds. None of the provisions of the Bond Documents will require the Issuer to expend or risk its own funds or to otherwise incur financial liability in the performance of any of its duties or in the exercise of any of its rights or powers under the Bond Documents. Nothing in this Agreement will preclude a proper party in interest from seeking and obtaining, to the extent permitted by law, specific performance against the Issuer for any failure to comply with any term, condition, covenant or agreement in any of this Agreement or in the Bond DocumentsIndenture; provided, that no costs, expenses or other monetary relief will be recoverable from the Issuer except as may be payable from the funds available under the Lease this Agreement or under the Indenture provided by the Company and pledged to the payment of the Bonds. Notwithstanding any other provisions of this Agreement, none of the provisions of this Agreement shall require the Issuer to expend or risk its own funds or to otherwise incur financial liability in the performance of any of its duties or in the exercise of any of its rights or powers hereunder unless it shall have first been adequately indemnified to its satisfaction against the cost, expense and liability which may be incurred thereby.

Limitation of Issuer’s Liability. No agreements or provisions contained in this Agreement nor any agreement, covenant or undertaking by the Issuer contained in any document executed by the Issuer in connection with any property of the Company financed, directly or indirectly, out of the Bond proceeds or the issuance, sale and delivery of the Bonds will give rise to any pecuniary liability of the Issuer, its officials, employees, agents or members of its governing body the Governing Body or constitute a charge against the Issuer’s general credit, or will obligate the Issuer financially in any way, except with respect to the Basic Rent available under the Lease and the Indenture provided by the Company and pledged to the payment of the Bonds, and their application as provided under the Indenture. No failure of the Issuer to comply with any terms, covenants or agreements in this Agreement or in any document executed by the Issuer in connection with the Bonds will subject the Issuer, its officials, employees, agents and members of its governing body Governing Body to any pecuniary charge or liability except to the extent that the same can be paid or recovered from the funds available under the Lease or the Indenture provided by the Company and pledged to the payment of the Bonds. None of the provisions of the Bond Documents will require the Issuer to expend or risk its own funds or to otherwise incur financial liability in the performance of any of its duties or in the exercise of any of its rights or powers under the Bond Documents. Nothing in this Agreement will preclude a proper party in interest from seeking and obtaining, to the extent permitted by law, specific performance against the Issuer for any failure to comply with any term, condition, covenant or agreement in any of the Bond Documents; provided, that no costs, expenses or other monetary relief will be recoverable from the Issuer except as may be payable from the funds available under the Lease or the Indenture provided by the Company and pledged to the payment of the Bonds.