Common use of Limitation on Personal Liability of Shareholders, Partners and Members Clause in Contracts

Limitation on Personal Liability of Shareholders, Partners and Members. Anything to the contrary contained in any Loan Document, none of the constituent shareholders, partners or members in Borrower shall have any liability whatsoever for the payment or performance of any of the Obligations. Without limiting in any manner the generality of the foregoing, Lender shall have no right to recover from any constituent shareholder, partner or member in Borrower any Distribution from Borrower; provided, however, that nothing in this Section 11.21 is intended, or shall be deemed, to constitute a waiver of any rights Lender may have under the United States Bankruptcy Code or other applicable law with respect to fraudulent transfers or conveyances.