Limitation on Issuer’s Obligations Sample Clauses

Limitation on Issuer’s Obligations. Any other term or provision in this Indenture or the other Financing Documents to the contrary notwithstanding, any and all
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Limitation on Issuer’s Obligations. Any other term or provision in this Indenture or the Financing Documents to the contrary notwithstanding, any and all obligations (including without limitation, fees, claims, demands, payments, damages, liability, penalties, assessments and the like) of or imposed upon the Issuer or its members, commissioners, officers, agents, employees, representatives, advisors or assigns, whether under this Indenture or any of the Financing Documents, and whether arising out of or based upon a claim or claims of tort, contract, misrepresentation, or any other or additional legal theory or theories whatsoever shall in all events be absolutely limited obligations and liabilities payable solely out of the Bond proceeds, investments therefrom, payments from the Borrower, and any payments derived from the Bonds. In no event shall any member, commissioner, officer, agent, employee, representative or advisor of the Issuer or successor or assign of such Person be liable, personally or otherwise, for such obligations or liabilities. In no event shall this Indenture be construed as depriving the Issuer of any right or privilege or requiring it or any member, commissioner, officer, agent, employee, representative or advisor to take or omit to take or to permit or suffer the taking of, any action by itself or anyone else that would violate or result in the Issuer's being in violation of the Act or any other applicable state or federal law.
Limitation on Issuer’s Obligations. Notwithstanding anything to the contrary contained herein or in any of the Bonds, this Agreement, the Indenture or in any other instrument or document executed by or on behalf of the Issuer in connection herewith, (a) the Issuer shall have no obligation to take action under this Agreement, the Indenture, the Bonds or such other instruments or documents, unless the Issuer is requested in writing by an appropriate person to take such action and is provided with indemnity and assurances satisfactory to it or payment of or reimbursement for any expenses (including attorneys' fees) to be incurred in such action, (b) no member of the Issuer or any officer, attorney, employee or agent of the Issuer shall be personally liable to the Company, the Trustee or any other person for any action taken by the Issuer or by its officers, attorney, agents or employees, or for any failure to take action, under this Agreement, the Indenture, the Bonds or such other instruments or documents, except that the Issuer agrees to take or refrain from taking any action required by an injunction or required to comply with any final judgment for specific performance; and (c) any judgment rendered against the Issuer for breach of its obligations under this Agreement, the Indenture, the Bonds or obligations under this Agreement, the Indenture, the Bonds or such other instruments or documents, shall be payable solely from the Bond Fund, and no personal liability or charge payable directly or indirectly from the general funds of the Issuer shall arise therefrom. The foregoing provisions of this Section shall survive the payment, prepayment or redemption of the Bonds and the termination of this Agreement and the Indenture.

Related to Limitation on Issuer’s Obligations

  • Limitation on Out of-State Litigation - Texas Business and Commerce Code § 272 This is a requirement of the TIPS Contract and is non-negotiable. Texas Business and Commerce Code § 272 prohibits a construction contract, or an agreement collateral to or affecting the construction contract, from containing a provision making the contract or agreement, or any conflict arising under the contract or agreement, subject to another state’s law, litigation in the courts of another state, or arbitration in another state. If included in Texas construction contracts, such provisions are voidable by a party obligated by the contract or agreement to perform the work. By submission of this proposal, Vendor acknowledges this law and if Vendor enters into a construction contract with a Texas TIPS Member under this procurement, Vendor certifies compliance.

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