Common use of Limitation on Recourse to General Partners Clause in Contracts

Limitation on Recourse to General Partners. The Lenders, the Agents, the SPCs (as defined in Section 10.07(h)) and the Fronting Banks agree that payment and performance of the obligations due to them from the Loan Parties under the Loan Documents and any promissory notes delivered hereunder shall be obligations of the Loan Parties only, and none of the Lenders, the Agents, the SPCs or any Fronting Bank shall have any claim against or recourse (whether by operation of law or otherwise) to any Equistar GP or any of its Affiliates (other than Equistar and its Subsidiaries) or any director, officer, employee, partner, member of the Partnership Governance Committee, holder of Equity Interests, agent or advisor of any such Person in respect of such obligations or for any claim based on, in respect of, or by reasons of, such obligations.

Appears in 2 contracts

Samples: Credit Agreement (Lyondell Chemical Co), Credit Agreement (Equistar Chemicals Lp)

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Limitation on Recourse to General Partners. The Lenders, the Agents, the SPCs (as defined in Section 10.07(h9.07(h)) and the Fronting Banks -------- agree that payment and performance of the obligations due to them from the Loan Parties under the Loan Documents and any promissory notes delivered hereunder shall be obligations of the Loan Parties only, and none of the Lenders, the Agents, the SPCs or any Fronting Bank shall have any claim against or recourse (whether by operation of law or otherwise) to any Equistar GP or any of its Affiliates (other than Equistar the Borrower and its Subsidiaries) or any director, officer, employee, partner, member of the Partnership Governance Committee, holder of Equity Interests, agent or advisor of any such Person person in respect of such obligations or for any claim based on, in respect of, or by reasons of, such obligations.. 106

Appears in 2 contracts

Samples: Credit Agreement (Equistar Chemicals Lp), Credit Agreement (Lyondell Chemical Co)

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