Common use of Limited Obligation Clause in Contracts

Limited Obligation. THE ISSUER COVENANTS THAT IT WILL PROMPTLY PAY THE PRINCIPAL, PREMIUM, IF ANY, AND INTEREST ON EVERY BOND ISSUED UNDER THIS INDENTURE AT THE PLACE, ON THE DATE AND IN THE MANNER PROVIDED HEREIN AND IN THE BONDS ACCORDING TO THE TRUE INTENT AND MEANING THEREOF, BUT SOLELY FROM THE AMOUNTS PLEDGED THEREFOR WHICH ARE TO BE PAID UNDER THE LOAN AGREEMENT AND THE NOTE AND OTHERWISE AS PROVIDED HEREIN AND IN THE LOAN AGREEMENT AND THE NOTE, WHICH AMOUNTS ARE HEREBY SPECIFICALLY PLEDGED TO THE PAYMENT THEREOF IN THE MANNER AND TO THE EXTENT HEREIN SPECIFIED, AND NOTHING IN THE BONDS OR IN THIS INDENTURE SHALL BE CONSTRUED AS PLEDGING ANY OTHER FUNDS OR ASSETS OF THE ISSUER. NEITHER THE STATE, THE ISSUER NOR ANY OTHER POLITICAL SUBDIVISION OF THE STATE SHALL IN ANY EVENT BE LIABLE FOR THE PAYMENT OF THE PRINCIPAL OR PURCHASE PRICE OF, REDEMPTION OR PURCHASE PREMIUM, IF ANY, OR INTEREST ON ANY OF THE BONDS OR FOR THE PERFORMANCE OF ANY PLEDGE, OBLIGATION OR AGREEMENT UNDERTAKEN BY THE ISSUER EXCEPT TO THE EXTENT THAT MONEYS PLEDGED HEREIN ARE SUFFICIENT THEREFOR. NO OWNER OF THE BONDS WILL HAVE THE RIGHT TO COMPEL ANY EXERCISE OF TAXING POWER OF THE ISSUER, THE STATE OR ANY POLITICAL SUBDIVISION THEREOF TO PAY THE BONDS OR THE INTEREST THEREON, AND THE BONDS DO NOT CONSTITUTE AN INDEBTEDNESS NOR A LOAN OF THE CREDIT OF THE ISSUER, THE STATE OR ANY POLITICAL SUBDIVISION THEREOF WITHIN THE MEANING OF ANY CONSTITUTIONAL OR STATUTORY PROVISION.

Limited Obligation. THIS NOTE IS A LIMITED OBLIGATION OF THE ISSUER COVENANTS THAT IT WILL PROMPTLY PAY THE PRINCIPALGOVERNMENTAL LENDER, PREMIUM, IF ANY, AND INTEREST ON EVERY BOND ISSUED UNDER THIS INDENTURE AT THE PLACE, ON THE DATE AND IN THE MANNER PROVIDED HEREIN AND IN THE BONDS ACCORDING TO THE TRUE INTENT AND MEANING THEREOF, BUT PAYABLE SOLELY FROM THE AMOUNTS PLEDGED THEREFOR WHICH ARE TO BE PAID UNDER THE LOAN AGREEMENT AND THE NOTE AND OTHERWISE AS PROVIDED HEREIN AND IN THE LOAN AGREEMENT AND THE NOTE, WHICH AMOUNTS ARE HEREBY SPECIFICALLY PLEDGED TO THE PAYMENT THEREOF IN THE MANNER AND TO THE EXTENT HEREIN SPECIFIED, AND NOTHING IN THE BONDS OR IN THIS INDENTURE SHALL BE CONSTRUED AS PLEDGING ANY OTHER FUNDS OR ASSETS SECURITY. NONE OF THE ISSUER. NEITHER GOVERNMENTAL LENDER, THE STATE, OR ANY POLITICAL SUBDIVISION THEREOF (EXCEPT THE ISSUER GOVERNMENTAL LENDER, TO THE LIMITED EXTENT SET FORTH HEREIN) NOR ANY OTHER POLITICAL SUBDIVISION OF THE STATE PUBLIC AGENCY SHALL IN ANY EVENT BE LIABLE FOR THE PAYMENT OF THE PRINCIPAL OR PURCHASE PRICE OF, REDEMPTION OR PURCHASE PREMIUM, PREMIUM (IF ANY, ) OR INTEREST ON ANY OF THE BONDS FUNDING LOAN OR FOR THE PERFORMANCE OF ANY PLEDGE, OBLIGATION OR AGREEMENT UNDERTAKEN BY OF ANY KIND WHATSOEVER WITH RESPECT THERETO EXCEPT AS SET FORTH HEREIN AND IN THE ISSUER EXCEPT FUNDING LOAN AGREEMENT, AND NONE OF THE FUNDING LOAN OR THIS NOTE OR ANY OF THE GOVERNMENTAL LENDER’S AGREEMENTS OR OBLIGATIONS WITH RESPECT TO THE EXTENT THAT MONEYS PLEDGED HEREIN ARE SUFFICIENT THEREFOR. NO OWNER OF THE BONDS WILL HAVE THE RIGHT FUNDING LOAN OR THIS NOTE SHALL BE CONSTRUED TO COMPEL ANY EXERCISE OF TAXING POWER OF THE ISSUER, THE STATE OR ANY POLITICAL SUBDIVISION THEREOF TO PAY THE BONDS OR THE INTEREST THEREON, AND THE BONDS DO NOT CONSTITUTE AN INDEBTEDNESS NOR OF OR A PLEDGE OF THE FAITH AND CREDIT OF OR A LOAN OF THE CREDIT OF OR A MORAL OBLIGATION OF ANY OF THE ISSUER, THE STATE OR ANY POLITICAL SUBDIVISION THEREOF FOREGOING WITHIN THE MEANING OF ANY CONSTITUTIONAL OR STATUTORY PROVISIONPROVISION WHATSOEVER. NO RECOURSE SHALL BE HAD FOR THE PAYMENT OF THE PRINCIPAL OF OR PREMIUM OR INTEREST ON THIS NOTE AGAINST ANY PAST, PRESENT OR FUTURE OFFICER, BOARD MEMBER, EMPLOYEE OR AGENT OF THE GOVERNMENTAL LENDER, OR OF ANY SUCCESSOR TO THE GOVERNMENTAL LENDER, AS SUCH, EITHER DIRECTLY OR THROUGH THE GOVERNMENTAL LENDER OR ANY SUCCESSOR TO THE GOVERNMENTAL LENDER, UNDER ANY RULE OF LAW OR EQUITY, STATUTE OR CONSTITUTION OR BY THE ENFORCEMENT OF ANY ASSESSMENT OR PENALTY OR OTHERWISE, AND ALL SUCH LIABILITY OF ANY SUCH OFFICERS, BOARD MEMBERS, EMPLOYEES OR AGENTS, AS SUCH, IS HEREBY EXPRESSLY WAIVED AND RELEASED AS A CONDITION OF, AND CONSIDERATION FOR, THE EXECUTION AND ISSUANCE OF THIS NOTE. THIS NOTE HAS BEEN ISSUED IN ACCORDANCE WITH THE ACT.

Limited Obligation. Notwithstanding any other provision of this Funding Loan Agreement to the contrary: THE ISSUER COVENANTS THAT IT WILL PROMPTLY PAY GOVERNMENTAL LENDER NOTE IS ISSUED PURSUANT TO THE PRINCIPAL, PREMIUM, IF ANYLAW AND IN ACCORDANCE WITH THE ACT, AND IS A LIMITED OBLIGATION OF THE GOVERNMENTAL LENDER. NEITHER THE CITY COUNCIL OF THE GOVERNMENTAL LENDER NOR ANY OFFICIAL OR EMPLOYEE OF THE GOVERNMENTAL LENDER NOR ANY PERSON EXECUTING THE GOVERNMENTAL LENDER NOTE SHALL BE LIABLE PERSONALLY ON THE GOVERNMENTAL LENDER NOTE OR SUBJECT TO ANY PERSONAL LIABILITY OR ACCOUNTABILITY BY REASON OF ITS ISSUANCE. THE GOVERNMENTAL LENDER NOTE AND THE INTEREST ON EVERY BOND ISSUED THEREON ARE LIMITED OBLIGATIONS OF THE GOVERNMENTAL LENDER, PAYABLE SOLELY FROM THE PLEDGED REVENUES AND ANY OTHER REVENUES, FUNDS AND ASSETS PLEDGED UNDER THIS INDENTURE AT THE PLACE, ON THE DATE AND IN THE MANNER PROVIDED HEREIN AND IN THE BONDS ACCORDING TO THE TRUE INTENT AND MEANING THEREOF, BUT SOLELY NOT FROM THE AMOUNTS PLEDGED THEREFOR WHICH ARE TO BE PAID UNDER THE LOAN AGREEMENT AND THE NOTE AND OTHERWISE AS PROVIDED HEREIN AND IN THE LOAN AGREEMENT AND THE NOTE, WHICH AMOUNTS ARE HEREBY SPECIFICALLY PLEDGED TO THE PAYMENT THEREOF IN THE MANNER AND TO THE EXTENT HEREIN SPECIFIED, AND NOTHING IN THE BONDS OR IN THIS INDENTURE SHALL BE CONSTRUED AS PLEDGING ANY OTHER REVENUES, FUNDS OR ASSETS OF THE ISSUERGOVERNMENTAL LENDER. NEITHER THE STATEGOVERNMENTAL LENDER, THE ISSUER STATE NOR ANY OTHER POLITICAL CORPORATION OR SUBDIVISION OR AGENCY THEREOF SHALL BE OBLIGATED TO PAY THE PRINCIPAL OF THE GOVERNMENTAL LENDER NOTE OR THE INTEREST THEREON OR OTHER COSTS INCIDENT THERETO EXCEPT FROM THE MONEY PLEDGED THEREFOR. NEITHER THE FAITH AND CREDIT NOR THE TAXING POWER OF THE STATE SHALL IN NOR ANY EVENT BE LIABLE FOR POLITICAL CORPORATION OR SUBDIVISION OR AGENCY THEREOF NOR THE FAITH AND CREDIT OF THE GOVERNMENTAL LENDER IS PLEDGED TO THE PAYMENT OF THE PRINCIPAL OR PURCHASE PRICE OF, REDEMPTION OR PURCHASE PREMIUM, IF ANY, OR INTEREST ON ANY THE GOVERNMENTAL LENDER NOTE OR OTHER COSTS INCIDENT THERETO. THE GOVERNMENTAL LENDER NOTE IS NOT A DEBT OF THE BONDS OR FOR THE PERFORMANCE UNITED STATES OF ANY PLEDGE, OBLIGATION OR AGREEMENT UNDERTAKEN BY THE ISSUER EXCEPT TO THE EXTENT THAT MONEYS PLEDGED HEREIN ARE SUFFICIENT THEREFOR. NO OWNER OF THE BONDS WILL HAVE THE RIGHT TO COMPEL ANY EXERCISE OF TAXING POWER OF THE ISSUER, THE STATE OR ANY POLITICAL SUBDIVISION THEREOF TO PAY THE BONDS OR THE INTEREST THEREON, AND THE BONDS DO NOT CONSTITUTE AN INDEBTEDNESS NOR A LOAN OF THE CREDIT OF THE ISSUER, THE STATE OR ANY POLITICAL SUBDIVISION THEREOF WITHIN THE MEANING OF ANY CONSTITUTIONAL OR STATUTORY PROVISIONAMERICA.

Limited Obligation. THIS NOTE IS A SPECIAL, LIMITED OBLIGATION OF THE ISSUER COVENANTS THAT IT WILL PROMPTLY PAY THE GOVERNMENTAL LENDER PAYABLE, AS TO PRINCIPAL, PREMIUM, IF ANY, AND INTEREST ON EVERY BOND ISSUED UNDER THIS INDENTURE AT THE PLACE, ON THE DATE AND IN THE MANNER PROVIDED HEREIN AND IN THE BONDS ACCORDING TO THE TRUE INTENT AND MEANING THEREOF, BUT SOLELY FROM THE AMOUNTS PLEDGED THEREFOR REVENUES AND OTHER FUNDS AND MONEYS AND SECURITY PLEDGED AND ASSIGNED UNDER THE FUNDING LOAN AGREEMENT. THIS NOTE SHALL CONSTITUTE A VALID CLAIM OF THE OWNER OR OWNERS THEREOF AGAINST THE PLEDGED REVENUES AND OTHER FUNDS AND MONEYS AND SECURITY PLEDGED AND ASSIGNED UNDER THE FUNDING LOAN AGREEMENT, WHICH ARE TO BE PAID UNDER THE LOAN AGREEMENT AND THE NOTE AND OTHERWISE AS PROVIDED HEREIN AND IN THE LOAN AGREEMENT AND THE NOTE, WHICH AMOUNTS ARE HEREBY SPECIFICALLY PLEDGED TO THE PAYMENT THEREOF IN THE MANNER AND TO THE EXTENT HEREIN SPECIFIED, AND NOTHING IN THE BONDS OR IN THIS INDENTURE SHALL BE CONSTRUED AS PLEDGING ANY OTHER FUNDS OR ASSETS OF THE ISSUER. NEITHER THE STATE, THE ISSUER NOR ANY OTHER POLITICAL SUBDIVISION OF THE STATE SHALL IN ANY EVENT BE LIABLE FOR SECURE THE PAYMENT OF THE PRINCIPAL OR PURCHASE PRICE OF, REDEMPTION OR PURCHASE PREMIUM, IF ANY, OR OF AND INTEREST ON ANY THIS NOTE, AND WHICH SHALL BE USED FOR NO OTHER PURPOSE EXCEPT AS EXPRESSLY AUTHORIZED IN THE FUNDING LOAN AGREEMENT. THIS NOTE SHALL NOT BE A DEBT OR INDEBTEDNESS OF THE BONDS OR FOR THE PERFORMANCE OF ANY PLEDGE, OBLIGATION OR AGREEMENT UNDERTAKEN BY THE ISSUER EXCEPT TO THE EXTENT THAT MONEYS PLEDGED HEREIN ARE SUFFICIENT THEREFOR. NO OWNER OF THE BONDS WILL HAVE THE RIGHT TO COMPEL ANY EXERCISE OF TAXING POWER OF THE ISSUER, THE STATE OR ANY POLITICAL SUBDIVISION THEREOF, AND NEITHER THE STATE NOR ANY POLITICAL SUBDIVISION THEREOF TO PAY THE BONDS OR THE INTEREST SHALL BE LIABLE THEREON, AND NOR IN ANY EVENT SHALL THIS NOTE BE PAYABLE OUT OF ANY FUNDS OR PROPERTIES OTHER THAN THOSE OF THE BONDS DO GOVERNMENTAL LENDER PLEDGED UNDER THE FUNDING LOAN AGREEMENT. THIS NOTE SHALL NOT CONSTITUTE AN INDEBTEDNESS NOR OR A LOAN OF THE CREDIT OF THE ISSUER, THE STATE OR ANY POLITICAL SUBDIVISION THEREOF MULTIPLE FISCAL-YEAR FINANCIAL OBLIGATION WITHIN THE MEANING OF ANY CONSTITUTIONAL OR STATUTORY PROVISIONDEBT LIMITATION OR RESTRICTION. NEITHER THE STATE NOR ANY POLITICAL SUBDIVISION THEREOF (EXCEPT THE GOVERNMENTAL LENDER FROM THE SOURCES IDENTIFIED IN THE FUNDING LOAN AGREEMENT) SHALL BE LIABLE FOR PAYMENT OF THIS NOTE NOR IN ANY EVENT SHALL PRINCIPAL OF, PREMIUM, IF ANY, AND INTEREST ON THIS NOTE BE PAYABLE OUT OF ANY FUNDS OR ASSETS OTHER THAN THOSE PLEDGED TO THAT PURPOSE BY THE GOVERNMENTAL LENDER UNDER THE FUNDING LOAN AGREEMENT. THE GOVERNMENTAL LENDER HAS NO TAXING POWER. NO DIRECTOR, OFFICER, AGENT, EMPLOYEE OR ATTORNEY OF THE OBLIGOR, INCLUDING ANY PERSON EXECUTING THE FUNDING LOAN AGREEMENT OR THIS NOTE, SHALL BE LIABLE PERSONALLY ON THIS NOTE OR FOR ANY REASON RELATING TO THE ISSUANCE OF THIS NOTE. NO RECOURSE SHALL BE HAD FOR THE PAYMENT OF THE PRINCIPAL OF OR THE INTEREST ON THIS NOTE, OR FOR ANY CLAIM BASED ON THIS NOTE, OR OTHERWISE IN RESPECT OF THIS NOTE, OR BASED ON OR IN RESPECT OF THE FUNDING LOAN AGREEMENT OR ANY SUPPLEMENTS AND AMENDMENTS THERETO, AGAINST ANY MEMBER, COMMISSIONER, OFFICER, EMPLOYEE OR AGENT, AS SUCH, OF THE OBLIGOR OR ANY SUCCESSOR, WHETHER BY VIRTUE OF ANY CONSTITUTION, STATUTE OR RULE OF LAW, OR BY THE ENFORCEMENT OF ANY ASSESSMENT OR PENALTY OR OTHERWISE, ALL SUCH LIABILITY BEING, BY THE ACCEPTANCE OF THIS NOTE AND AS PART OF THE CONSIDERATION FOR THE ISSUE OF THIS NOTE, EXPRESSLY WAIVED AND RELEASED.

Limited Obligation. Notwithstanding any other provision of the Funding Loan Agreement or this Note to the contrary: THIS NOTE IS EXECUTED AND DELIVERED PURSUANT TO THE ISSUER COVENANTS THAT IT WILL PROMPTLY COUNTY AUTHORIZATION, THE RESOLUTION AND IN ACCORDANCE WITH THE ACT, AND IS A LIMITED OBLIGATION OF THE OBIGOR. NEITHER THE OBLIGOR NOR ANY OFFICIAL OR EMPLOYEE OF THE OBLIGOR NOR ANY PERSON EXECUTING THIS NOTE SHALL BE LIABLE PERSONALLY ON THIS NOTE OR BE SUBJECT TO ANY PERSONAL LIABILITY OR ACCOUNTABILITY BY REASON OF ITS EXECUTION, DELIVERY AND PLACEMENT. THIS NOTE AND THE INTEREST THEREON ARE LIMITED OBLIGATIONS OF THE OBLIGOR, PAYABLE ONLY FROM THE SOURCES DESCRIBED IN THE FUNDING LOAN AGREEMENT. NEITHER THE OBLIGOR, THE STATE NOR ANY OTHER POLITICAL CORPORATION OR SUBDIVISION OR AGENCY THEREOF SHALL BE OBLIGATED TO PAY THE PRINCIPALPRINCIPAL OF THIS NOTE, PREMIUM, IF ANY, AND OR THE INTEREST ON EVERY BOND ISSUED UNDER THIS INDENTURE AT THE PLACE, ON THE DATE AND IN THE MANNER PROVIDED HEREIN AND IN THE BONDS ACCORDING TO THE TRUE INTENT AND MEANING THEREOF, BUT SOLELY THEREON OR OTHER COSTS INCIDENT THERETO EXCEPT FROM THE AMOUNTS MONEY PLEDGED THEREFOR WHICH ARE TO BE PAID UNDER THE LOAN AGREEMENT AND THE NOTE AND OTHERWISE AS PROVIDED HEREIN AND IN THE LOAN AGREEMENT AND THE NOTE, WHICH AMOUNTS ARE HEREBY SPECIFICALLY PLEDGED TO THE PAYMENT THEREOF IN THE MANNER AND TO THE EXTENT HEREIN SPECIFIED, AND NOTHING IN THE BONDS OR IN THIS INDENTURE SHALL BE CONSTRUED AS PLEDGING ANY OTHER FUNDS OR ASSETS OF THE ISSUERTHEREFOR. NEITHER THE STATE, FAITH AND CREDIT NOR THE ISSUER NOR ANY OTHER POLITICAL SUBDIVISION TAXING POWER OF THE STATE SHALL IN NOR ANY EVENT BE LIABLE FOR POLITICAL CORPORATION OR SUBDIVISION OR AGENCY THEREOF NOR THE FAITH AND CREDIT OF THE OBLIGOR IS PLEDGED TO THE PAYMENT OF THE PRINCIPAL OR PURCHASE PRICE OF, REDEMPTION OR PURCHASE PREMIUM, IF ANY, OR INTEREST ON ANY THIS NOTE OR OTHER COSTS INCIDENT THERETO. THE OBLIGOR HAS NO TAXING POWER. THIS NOTE IS NOT A DEBT OF THE BONDS OR FOR THE PERFORMANCE UNITED STATES OF ANY PLEDGE, OBLIGATION OR AGREEMENT UNDERTAKEN BY THE ISSUER EXCEPT TO THE EXTENT THAT MONEYS PLEDGED HEREIN ARE SUFFICIENT THEREFORAMERICA. NO OWNER OF THE BONDS WILL HAVE THE RIGHT TO COMPEL ANY EXERCISE OF TAXING POWER OF THE ISSUER, THE STATE OR ANY POLITICAL SUBDIVISION THEREOF TO PAY THE BONDS OR THE INTEREST THEREON, AND THE BONDS DO NOT CONSTITUTE AN INDEBTEDNESS NOR A LOAN OF THE CREDIT OF THE ISSUER, THE STATE OR ANY POLITICAL SUBDIVISION THEREOF WITHIN THE MEANING OF ANY CONSTITUTIONAL OR STATUTORY PROVISION.[SIGNATURE PAGE FOLLOWS]

Limited Obligation. NOTWITHSTANDING ANYTHING HEREIN CONTAINED TO THE ISSUER COVENANTS CONTRARY, ANY OBLIGATION THAT IT WILL PROMPTLY PAY THE GOVERNMENTAL LENDER MAY INCUR UNDER THE FUNDING LOAN AGREEMENT OR UNDER ANY INSTRUMENT EXECUTED IN CONNECTION THEREWITH THAT SHALL ENTAIL THE EXPENDITURE OF MONEY SHALL NOT BE A GENERAL OBLIGATION OF THE GOVERNMENTAL LENDER, BUT SHALL BE A LIMITED OBLIGATION PAYABLE SOLELY FROM THE PLEDGED SECURITY. THIS NOTE SHALL CONSTITUTE A VALID CLAIM OF THE HOLDER HEREOF AGAINST THE PLEDGED SECURITY, WHICH IS PLEDGED TO SECURE THE PAYMENT OF PRINCIPAL, PREMIUM, IF ANY, AND INTEREST ON EVERY BOND ISSUED UNDER THIS INDENTURE AT THE PLACENOTE AND WHICH SHALL BE UTILIZED FOR NO OTHER PURPOSE, ON THE DATE AND EXCEPT AS EXPRESSLY AUTHORIZED IN THE MANNER PROVIDED HEREIN FUNDING LOAN AGREEMENT. THIS NOTE SHALL BE A LIMITED OBLIGATION OF THE GOVERNMENTAL LENDER GIVING RISE TO NO CHARGE AGAINST THE GOVERNMENTAL LENDER’S GENERAL CREDIT AND IN PAYABLE SOLELY FROM, AND CONSTITUTE CLAIMS OF THE BONDS ACCORDING HOLDERS THEREOF AGAINST ONLY, THE PLEDGED SECURITY. PRINCIPAL, PREMIUM, IF ANY, AND INTEREST ON THIS NOTE SHALL NOT BE DEEMED TO CONSTITUTE DEBT OF THE TRUE INTENT AND MEANING THEREOF, BUT SOLELY FROM THE AMOUNTS PLEDGED THEREFOR WHICH ARE TO BE PAID UNDER THE LOAN AGREEMENT AND THE NOTE AND OTHERWISE AS PROVIDED HEREIN AND IN THE LOAN AGREEMENT AND THE NOTE, WHICH AMOUNTS ARE HEREBY SPECIFICALLY PLEDGED TO THE PAYMENT THEREOF IN THE MANNER AND GOVERNMENTAL LENDER (EXCEPT TO THE EXTENT HEREIN SPECIFIED, AND NOTHING IN THE BONDS OR IN THIS INDENTURE SHALL BE CONSTRUED AS PLEDGING ANY OTHER FUNDS OR ASSETS OF THE ISSUERPLEDGED SECURITY). NEITHER THE STATETHIS NOTE IS NOT AND DOES NOT CREATE OR CONSTITUTE IN ANY WAY AN OBLIGATION, THE ISSUER NOR ANY OTHER POLITICAL SUBDIVISION A DEBT OR A LIABILITY OF THE STATE OF TEXAS OR ANY POLITICAL SUBDIVISION THEREOF, OR CREATE OR CONSTITUTE A PLEDGE, GIVING OR LENDING OF THE FAITH, CREDIT, OR TAXING POWER OF THE STATE OR ANY POLITICAL SUBDIVISION THEREOF. THE GOVERNMENTAL LENDER HAS NO TAXING POWER. NO RECOURSE SHALL IN ANY EVENT BE LIABLE HAD FOR THE PAYMENT OF THE PRINCIPAL OF OR PURCHASE PRICE OF, REDEMPTION OR PURCHASE PREMIUM, IF ANY, OR INTEREST ON THIS NOTE OR FOR ANY CLAIM BASED ON THIS NOTE, OR OTHERWISE IN RESPECT OF THIS NOTE, OR BASED ON OR IN RESPECT OF THE BONDS OR FOR THE PERFORMANCE OF ANY PLEDGE, OBLIGATION OR FUNDING LOAN AGREEMENT UNDERTAKEN BY THE ISSUER EXCEPT TO THE EXTENT THAT MONEYS PLEDGED HEREIN ARE SUFFICIENT THEREFOR. NO OWNER OF THE BONDS WILL HAVE THE RIGHT TO COMPEL ANY EXERCISE OF TAXING POWER OF THE ISSUER, THE STATE OR ANY POLITICAL SUBDIVISION THEREOF TO PAY SUPPLEMENTAL FUNDING LOAN AGREEMENT, AGAINST THE BONDS OR THE INTEREST THEREON, AND THE BONDS DO NOT CONSTITUTE AN INDEBTEDNESS NOR A LOAN OF THE GENERAL CREDIT OF THE ISSUERGOVERNMENTAL LENDER OR AGAINST ANY PAST, PRESENT OR FUTURE GOVERNING BOARD MEMBER, DIRECTOR, OFFICER, AGENT OR EMPLOYEE OF THE GOVERNMENTAL LENDER, OR OF ANY SUCCESSOR TO THE GOVERNMENTAL LENDER, AS SUCH, EITHER DIRECTLY OR THROUGH THE GOVERNMENTAL LENDER OR ANY SUCCESSOR TO THE GOVERNMENTAL LENDER, UNDER ANY RULE OF LAW OR EQUITY, STATUTE OR CONSTITUTION OR BY THE ENFORCEMENT OF ANY ASSESSMENT OR PENALTY OR OTHERWISE, AND ALL SUCH LIABILITY OF ANY SUCH GOVERNING BOARD MEMBERS, DIRECTORS, OFFICERS, AGENTS OR EMPLOYEES, AS SUCH, IS HEREBY EXPRESSLY WAIVED AND RELEASED AS A CONDITION OF, AND CONSIDERATION FOR, THE STATE OR ANY POLITICAL SUBDIVISION THEREOF WITHIN THE MEANING EXECUTION AND ISSUANCE OF ANY CONSTITUTIONAL OR STATUTORY PROVISIONTHIS NOTE.