Common use of Limitation on Recourse Against WFSRC Clause in Contracts

Limitation on Recourse Against WFSRC. Notwithstanding anything to the contrary contained in this Agreement, the obligations of WFSRC under the Basic Documents are solely the corporate obligations of WFSRC, and shall be payable by WFSRC, solely as provided by the Basic Documents. WFSRC shall only be required to pay (i) any fees, expenses, indemnities or other liabilities that it may incur under the Basic Documents from funds available pursuant to, and in accordance with, the payment priorities set forth in this Agreement and (ii) to the extent WFSRC has additional funds available (other than funds described in the preceding clause (i)) that would be in excess of amounts that would be necessary to pay the debt and other obligations of WFSRC incurred in accordance with WFSRC's certificate of incorporation and all financing documents to which WFSRC is a party. The agreement set forth in the preceding sentence shall constitute a subordination agreement for purposes of Section 510(a) of the Bankruptcy Code. In addition, no amount owing by WFSRC hereunder in excess of the liabilities that it is required to pay in accordance with the preceding sentence shall constitute a "claim" (as defined in Section 101(5) of the Bankruptcy Code) against it.

Limitation on Recourse Against WFSRC. Notwithstanding anything to the contrary contained in this Agreement, the obligations of WFSRC under the Basic Documents are solely the corporate obligations of WFSRC, and shall be payable by WFSRC, solely as provided by the Basic Documents. WFSRC shall only be required to pay (ia) any fees, expenses, indemnities or other liabilities that it may incur under the Basic Documents from funds available pursuant to, and in accordance with, the payment priorities set forth in this Agreement and (ii) to the extent WFSRC has additional funds available (other than funds described in the preceding clause (i)) that would be in excess of amounts that would be necessary to pay the debt and other obligations of WFSRC incurred in accordance with WFSRC's certificate of incorporation and all financing documents to which WFSRC is a party. The agreement set forth in the preceding sentence shall constitute a subordination agreement for purposes of Section 510(a) of the Bankruptcy Code. In addition, no amount owing by WFSRC hereunder in excess of the liabilities that it is required to pay in accordance with the preceding sentence shall constitute a "claim" (as defined in Section 101(5) of the Bankruptcy Code) against it.

Limitation on Recourse Against WFSRC. Notwithstanding anything to the contrary contained in this AgreementIndenture, the obligations of WFSRC under the Basic Documents are solely the corporate obligations of WFSRC, and shall be payable by WFSRC, solely as provided by the Basic Documents. WFSRC shall only be required to pay (ia) any fees, expenses, indemnities or other liabilities that it may incur under the Basic Documents from funds available pursuant to, and in accordance with, the payment priorities set forth in this Agreement Indenture and (ii) to the extent WFSRC has additional funds available (other than funds described in the preceding clause (i)) that would be in excess of amounts that would be necessary to pay the debt and other obligations of WFSRC incurred in accordance with WFSRC's certificate of incorporation and all financing documents to which WFSRC is a party. The agreement set forth in the preceding sentence shall constitute a subordination agreement for purposes of Section 510(a) of the Bankruptcy Code. In addition, no amount owing by WFSRC hereunder in excess of the liabilities that it is required to pay in accordance with the preceding sentence shall constitute a "claim" (as defined in Section 101(5) of the Bankruptcy Code) against it.