Limitation on Personal Liability. All parties to this Agreement acknowledge and agree that the Trust is a series trust and all debts, liabilities, obligations and expenses incurred, contracted for or otherwise existing with respect to a particular series shall be enforceable against the assets held with respect to such series only, and not against the assets of the Trust generally or against the assets held with respect to any other series and further that no Trustee, officer or holder of shares of beneficial interest of the Trust shall be personally liable for any of the foregoing.
Limitation on Personal Liability. NOTICE IS HEREBY GIVEN that the Trust is a business trust organized under the Delaware Business Trust Act pursuant to a Certificate of Trust filed in the office of the Secretary of State of the State of Delaware. All parties to this Agreement acknowledge and agree that the Trust is a series trust and all debts, liabilities, obligations and expenses incurred, contracted for or otherwise existing with respect to a particular series shall be enforceable against the assets held with respect to such series only, and not against the assets of the Trust generally or against the assets held with respect to any other series and further that no Trustee, officer or holder of shares of beneficial interest of the Trust shall be personally liable for any of the foregoing.
Limitation on Personal Liability. A. In the event an employee is sued for an act, event, or omission which may fall within the scope of Section 768.28, Florida Statutes, the employee should notify the General Counsel's office as soon as possible after receipt of the summons commencing the action in order that the University may fulfill its obligation. Failure to notify the employer promptly may affect the rights of the parties.
B. For information purposes, the following pertinent language of Section 768.28(9), Florida Statutes, is reproduced herein. No officer, employee, or agent of the State or its sub-divisions shall be held personally liable in tort for any injuries or damages suffered as a result of any act, event or omission of action in the scope of his employment or function unless such officer, employee or agent acted in bad faith or with malicious purpose or in a manner exhibiting wanton or willful disregard of human rights, safety or property.
Limitation on Personal Liability. In the event an employee is sued for an act, event, or omission which may fail within the scope of Section 768.28, Florida Statutes, the employee should notify the Graduate Xxxx'x office as soon as possible after receipt of the summons commencing the action in order that the University may fulfill its obligation. Failure to notify the employer promptly may affect the rights of the parties.
Limitation on Personal Liability. (a) If a faculty member is sued for an act, event, or omission which may fall within the scope of Section 768.28, Florida Statutes, the faculty member should notify the General Counsel’s office as soon as possible after receipt of the summons commencing the action in order that the University may fulfill its obligation. Failure to notify the University promptly may affect the rights of the parties.
(b) For information purposes, the pertinent language of Section 768.28(9), Florida Statutes, is reproduced below, as follows: No officer, employee, or agent of the State or of any of its sub-divisions shall be held personally liable in tort or named as a party defendant in any action for any injury or damage suffered as a result of any act, event or omission of action in the scope of her or his employment or function, unless such officer, employee or agent acted in bad faith or with malicious purpose or in a manner exhibiting wanton or willful disregard of human rights, safety or property.
Limitation on Personal Liability. To the fullest extent permitted by applicable law, Indemnitee shall not be personally liable to the Company or its stockholders for monetary damages for breach of fiduciary duty as a director of the Company, provided that the foregoing shall not eliminate or limit the liability of Indemnitee (i) for any breach of Indemnitee's duty of loyalty to the Company or its stockholders, (ii) for acts or omissions not in good faith or which involve intentional misconduct or a knowing violation of law, (iii) under Section 174 of the Delaware General Corporation Law relating to unlawful dividend payments and unlawful stock purchases or redemptions or (iv) for any transaction from which Indemnitee derived an improper personal benefit.
Limitation on Personal Liability. (a) In the event an employee is sued for an act, event, or omission which may fall within the scope of Section 768.28, Florida Statutes, the employee should notify the president's office as soon as possible after receipt of the summons commencing the action in order that the University may fulfill its obligation. Failure to notify the employer promptly may affect the rights of the parties.
(b) For information purposes, the following pertinent language of Section 768.28(9), Florida Statutes, is reproduced herein. No officer, employee, or agent of the state or any of its subdivisions shall be held personally liable in tort or named as a party defendant in any action for any injury or damage suffered as a result of any act, event, or omission of action in the scope of his or her employment or function, unless such officer, employee, or agent acted in bad faith or with malicious purpose or in a manner exhibiting wanton and willful disregard of human rights, safety or property.
Limitation on Personal Liability. Except as hereinafter provided, Lender's sole recourse shall be to the Collateral and Lender shall not enforce any deficiency judgment or other amount due under any Loan Document or any covenant, obligation, undertaking, representation or warranty contained in any Loan Document (except enforcement against the Guarantor under the Guaranty) against Borrower or any person who holds a direct or indirect ownership interest in Borrower (hereinafter together with Borrower collectively referred to as the "Exculpated Parties"); provided, however, that nothing contained herein or in any Loan Document shall:
(a) limit Lender's rights and remedies against the Guarantor under the Guaranty;
(b) limit the enforceability of any lien, security interest or other right or remedy of Lender against any Collateral consistent with nonrecourse liability as provided in this Section 7.13, including, without limitation, the right to name any Exculpated Party in any proceeding for enforcement thereof; or
(c) relieve the Exculpated Parties from personal liability or responsibility for:
(i) any casualty or rental insurance proceeds or condemnation awards received by any of the Exculpated Parties in respect of the Project and not turned over to Lender or used for restoration or repair of the Project;
(ii) any rents and other income from the Project received by any of the Exculpated Parties after an Event of Default under the Loan Documents and not otherwise applied to the expenses of operating and maintaining the Project or to the Indebtedness evidenced by the Loan Documents;
(iii) any fraud or intentional misrepresentation by any of the Exculpated Parties in connection with the Project, the Loan Documents, or any other aspect of the Loan; or
(iv) any default under the Hazardous Substances Remediation and Indemnification Agreement, unless prior to the expiration of any cure period relating to such default: (x) such default shall have been duly and completely cured, and (y) any claims by any party arising out of or relating to such default, which are pending, threatened, or reasonably anticipated against Borrower, Lender, or the Project, shall have been duly paid, settled, or waived.
Limitation on Personal Liability. (a) It is understood and agreed that Tenant shall look solely to the estate and property of Landlord in the Building for the satisfaction of Tenant's remedies for the collection of a judgment (or other judicial process) requiring the payment of money by Landlord in the event of any default or breach by Landlord with respect to any of the terms, covenants and conditions of this Lease to be observed and/or performed by Landlord and any other obligation of Landlord created by or under this Lease and no other property or assets of Landlord or of its partners, beneficiaries, co-tenants, shareholders, or principals (as the case may be) shall be subject to levy, execution or other enforcement procedures.
(b) The term "Landlord," as used in subparagraph 22.02
(a) above and throughout this Lease, so far as covenants and agreements on the part of the Landlord are concerned, shall be limited to mean and include only the owner or owners at the time in question of the Building and Lease. Further, in the event of any transfer or transfers of the title to the said Lease and/or the Building, Landlord herein named (and in case of any subsequent transfers or conveyances, the then grantor), including each of its partners, beneficiaries, co-tenants, shareholders, or principals (as the case may be), shall be automatically freed and relieved from and after the date of such transfer and conveyance of all liability as respects the performance of any covenants and agreements on the part of Landlord. Landlord or the grantor shall turn over to the grantee all monies and security, if any, then held by Landlord or such grantor on behalf of Tenant and shall assign to such grantee all right, title and interest of Landlord or such grantor thereto, it being intended that the covenants and agreements contained in this Lease on the part of Landlord to be performed shall, subject as aforesaid, be binding on Landlord, its successors and assigns.
Limitation on Personal Liability. (a) Except as otherwise provided in Section 9.11(b), neither the Sponsor nor its officers, directors, partners, members, managers or employees, shall have personal liability under this Agreement or any other Sponsor Document for the payment of the payment Obligations or for the performance of any other Obligations of the Sponsor under the Sponsor Documents, and Xxxxxxx Mac’s only recourse for the satisfaction or performance of the Obligations shall be Xxxxxxx Mac’s exercise of its rights and remedies with respect to the UCC Collateral and any other collateral held by Xxxxxxx Mac as security for the Obligations. The foregoing notwithstanding, the Sponsor acknowledges that this Section 9.11(a) shall not be construed as limiting the coverage of, or any of Xxxxxxx Mac’s rights under, the Guaranty.
(b) The Sponsor shall be personally liable to Xxxxxxx Mac for its damages, losses or expenses, as applicable upon the occurrence of any of the following: (1) fraud or written material misrepresentation by the Sponsor, or any Sponsor Affiliate, or any officer, director, partner, member, manager or employee of the Sponsor, or any Sponsor Affiliate, in connection with the application for or creation of the Obligations or any request for any action or consent by Xxxxxxx Mac, (2) any costs and expenses incurred by Xxxxxxx Mac in connection with the collection of any amount for which the Sponsor is personally liable under this Section, including fees and out of pocket expenses of attorneys and expert witnesses and the costs of conducting any independent audit of the Sponsor’s and any Sponsor Affiliate’s books and records to determine the amount for which the Sponsor has personal liability; and (3) any Breach that is uncured by the Sponsor in the event the Sponsor does not fulfill its obligations under Section 2.4(c). In addition, the Sponsor shall be personally liable to Xxxxxxx Mac for indemnification obligations under Section 3.12.
(c) To the extent that the Sponsor has personal liability under this Section 9.11, Xxxxxxx Mac may exercise its rights against the Sponsor personally without regard to whether Xxxxxxx Mac has exercised any rights against the UCC Collateral or any other security or pursued any rights against any guarantor or pursued any other rights available to Xxxxxxx Mac under this Agreement, any other Sponsor Document or applicable law.
