LIMITED LIABILITY OF TENANT. THE SOURCE OF PAYMENT FOR THE OBLIGATIONS OF THE TENANT UNDER THIS LEASE WILL BE LIMITED SOLELY AND EXCLUSIVELY TO ASSETS AND REVENUES DERIVED FROM OPERATIONS PURSUANT TO THE REDWOOD CITY CHARTER AND ANY OTHER CHARTER SCHOOL OPERATED BY TENANT IN THE PREMISES. AS USED HEREIN, THE “REDWOOD CITY CHARTER” MEANS THE CHARTER APPROVED AT A MEETING HELD ON [ ], BY THE [ ] PURSUANT TO THE PETITION OF THE TENANT FOR A CHARTER TO OPEN A KINDERGARTEN-5TH GRADE ELEMENTARY SCHOOL, TOGETHER WITH ANY SUBSEQUENT RENEWAL, EXTENSION OR MODIFICATION THEREOF AND ANY ALTERNATIVE CHARTER SCHOOL AUTHORITY APPROVED WITH RESPECT THERETO, AS ASSIGNED BY THE CALIFORNIA DEPARTMENT OF EDUCATION. THE LANDLORD ACKNOWLEDGES AND AGREES THAT EXCEPT AS EXPRESSLY SET FORTH IN THIS LEASE, NO OTHER ASSETS OR REVENUES OF ROCKETSHIP EDUCATION SHALL BE AVAILABLE TO SATISFY THE TENANT’S OBLIGATIONS UNDER THIS LEASE. IN ANY ACTION OR PROCEEDING BROUGHT BY THE LANDLORD, ANY CREDITOR OF THE LANDLORD OR THEIR ASSIGNEES TO ENFORCE RIGHTS UNDER THIS LEASE WITH RESPECT TO THE BONDS, THE LANDLORD DOCUMENTS OR OTHERWISE, THE LANDLORD, ANY CREDITOR OF LANDLORD OR THEIR RESPECTIVE ASSIGNEES EXPRESSLY WAIVE OR ARE DEEMED TO WAIVE ALL RIGHTS WHATSOEVER TO SEEK TO OBTAIN OR OBTAIN ANY DEFICIENCY JUDGMENT OR OTHER JUDICIAL OR INTERIM RELIEF OR REMEDIES, AT LAW OR IN EQUITY, AGAINST ROCKETSHIP EDUCATION OR ITS AFFILIATES EXCEPT AS SET FORTH IN THE PRECEDING PARAGRAPH.
LIMITED LIABILITY OF TENANT. Landlord agrees that the personal assets of Tenant’s employees, directors and officers shall not be subject to levy, execution, or other judicial process for the satisfaction of Landlord’s claim against Tenant.
LIMITED LIABILITY OF TENANT. Xxxxxxxx agrees that the personal assets of Xxxxxx’s employees, directors and officers shall not be subject to levy, execution, or other judicial process for the satisfaction of Xxxxxxxx’s claim against Xxxxxx.
