Common use of Limited Recourse; Non-Petition Clause in Contracts

Limited Recourse; Non-Petition. 17.1 No recourse under any obligation, covenant or agreement of the Issuer contained in these presents shall be made against any shareholder, officer or director of the Issuer as such, by the enforcement of any assignment or by any proceeding, by virtue of any statute or otherwise; it being expressly agreed and understood that these presents are a corporate obligation of the Issuer and no liability shall attach to, or be incurred by, the shareholders, officers, agents, or directors of the Issuer as such, or any of them, under or by reason of any of the obligations, covenants and agreements of the Issuer contained in these presents, or implied therefrom, and that any and all personal liability for breach by the Issuer of any of such obligations, covenants or agreements, either at law or by statute or certification, of every such shareholder, officer, agent or director is hereby expressly waived by the Issuer as a condition of any consideration for the execution of these presents. 17.2 After realisation of the Security created under this Deed and distribution of the net proceeds thereof in accordance with this Deed neither the Expenses Loan Provider nor the Swap Counterparty may take any further steps against the Issuer or any of its assets and all claims of the Expenses Loan Provider and the Swap Counterparty under the Expenses Loan Agreement and the Swap Agreements respectively against the Issuer in respect of any sum unpaid shall be extinguished. 17.3 Each of the Expenses Loan Provider and the Swap Counterparty hereby agrees with the Note Trustee that, subject to the proviso to this sub-clause: (i) it shall not be entitled to take, and shall not take, any steps whatsoever to enforce the Security created by Clause 3, or to direct the Note Trustee to do so; and (ii) it shall not be entitled to take, and shall not take, any steps (including the exercise of any right of set-off but not including the presentation of a petition for an administration order in relation to the Issuer) for the purpose of recovering any of the Secured Amounts owing to it or any other debts whatsoever owing to it by the Issuer or procuring the administration, winding-up, examination or liquidation of the Issuer or the making of a court protection order or the presentation of a petition for an administration order in relation to the Issuer in respect of any of its liabilities whatsoever, Provided that: (i) if the Note Trustee, having become bound to do so, fails to serve an Enforcement Notice and/or to take any steps or proceedings to enforce such Security pursuant to Clauses 6, 8 or 11 within a reasonable time, and such failure is continuing, each of the Expenses Loan Provider and the Swap Counterparty shall be entitled to take any such steps and proceedings as it shall deem necessary (other than the presentation of a petition for the winding-up of, or for an examination order or the making of a court protection order in respect of, the Issuer or the enforcement of any Security granted hereunder) provided that it shall not be entitled to take any steps or proceedings which could contravene Clauses 6 or 17; and (ii) this Clause shall not prevent the Expenses Loan Provider or the Swap Counterparty from taking any steps against the Issuer which do not amount to the commencement or the threat of commencement of legal proceedings against the Issuer or procuring the winding-up of the Issuer or the making of an administration order in relation to the Issuer to the extent of any amount which should have been paid to the Expenses Loan Provider pursuant to the applicable provisions of the Expenses Loan Agreement or to the Swap Counterparty pursuant to the applicable provisions of the Swap Agreements, save that nothing herein shall entitle the Expenses Loan Provider or, as the case may be, the Swap Counterparty, to take any action under this proviso for so long as any amount which is not paid to the Expenses Loan Provider or, as the case may be, the Swap Counterparty, is due solely to a breach by the relevant party of its duties in respect of the Issuer Related Documents or otherwise because the Issuer has insufficient sums available to it to make such payment.

Limited Recourse; Non-Petition. 17.1 No recourse under any obligation, covenant or agreement of the Issuer contained in these presents shall be made against any shareholder, officer or director of the Issuer as such, by the enforcement of any assignment or by any proceeding, by virtue of any statute or otherwise; it being expressly agreed and understood that these presents are a corporate obligation of the Issuer and no liability shall attach to, or be incurred by, the shareholders, officers, agents, or directors of the Issuer as such, or any of them, under or by reason of any of the obligations, covenants and agreements of the Issuer contained in these presents, or implied therefrom, and that any and all personal liability for breach by the Issuer of any of such obligations, covenants or agreements, either at law or by statute or certification, of every such shareholder, officer, agent or director is hereby expressly waived by the Issuer as a condition of any consideration for the execution of these presents. 17.2 After realisation of the Security created under this Deed and distribution of the net proceeds thereof in accordance with this Deed neither the Expenses Loan Provider nor the Swap Counterparty may not take any further steps against the Issuer or any of its assets and all claims of the Expenses Loan Provider and the Swap Counterparty under the Expenses Loan Agreement and the Swap Agreements respectively against the Issuer in respect of any sum unpaid shall be extinguished. 17.3 Each of the The Expenses Loan Provider and the Swap Counterparty hereby agrees with the Note Trustee that, subject to the proviso to this sub-clause: (i) it shall not be entitled to take, and shall not take, any steps whatsoever to enforce the Security created by Clause 3, or to direct the Note Trustee to do so; and (ii) it shall not be entitled to take, and shall not take, any steps (including the exercise of any right of set-off but not including the presentation of a petition for an administration order in relation to the Issuer) for the purpose of recovering any of the Secured Amounts owing to it or any other debts whatsoever owing to it by the Issuer or procuring the administration, winding-up, examination or liquidation of the Issuer or the making of a court protection order or the presentation of a petition for an administration order in relation to the Issuer in respect of any of its liabilities whatsoever, Provided that: (i) if the Note Trustee, having become bound to do so, fails to serve an Enforcement Notice and/or to take any steps or proceedings to enforce such Security pursuant to Clauses 6, 8 or 11 within a reasonable time, and such failure is continuing, each of the Expenses Loan Provider and the Swap Counterparty shall be entitled to take any such steps and proceedings as it shall deem necessary (other than the presentation of a petition for the winding-up of, or for an examination order or the making of a court protection order in respect of, the Issuer or the enforcement of any Security granted hereunder) provided that it the Expenses Loan Provider shall not be entitled to take any steps or proceedings which could contravene Clauses 6 or 17; and (ii) this Clause shall not prevent the Expenses Loan Provider or the Swap Counterparty from taking any steps against the Issuer which do not amount to the commencement or the threat of commencement of legal proceedings against the Issuer or procuring the winding-up of the Issuer or the making of an administration order in relation to the Issuer to the extent of any amount which should have been paid to the Expenses Loan Provider pursuant to the applicable provisions of the Expenses Loan Agreement or to the Swap Counterparty pursuant to the applicable provisions of the Swap AgreementsAgreement, save that nothing herein shall entitle the Expenses Loan Provider or, as the case may be, the Swap Counterparty, to take any action under this proviso for so long as any amount which is not paid to the Expenses Loan Provider or, as the case may be, the Swap Counterparty, is due solely to a breach by the relevant party of its duties in respect of the Issuer Related Documents or otherwise because the Issuer has insufficient sums available to it to make such payment.

Limited Recourse; Non-Petition. 17.1 No recourse under any obligation, covenant or agreement of the Issuer contained in these presents shall be made against any shareholder, officer or director of the Issuer as such, by the enforcement of any assignment or by any proceeding, by virtue of any statute or otherwise; it being expressly agreed and understood that these presents are a corporate obligation of the Issuer and no liability shall attach to, or be incurred by, the shareholders, officers, agents, or directors of the Issuer as such, or any of them, under or by reason of any of the obligations, covenants and agreements of the Issuer contained in these presents, or implied therefrom, and that any and all personal liability for breach by the Issuer of any of such obligations, covenants or agreements, either at law or by statute or certification, of every such shareholder, officer, agent or director is hereby expressly waived by the Issuer as a condition of any consideration for the execution of these presents. 17.2 After realisation of the Security created under this Deed and distribution of the net proceeds thereof in accordance with this Deed neither the Expenses Loan Provider nor the Swap Counterparty may take any further steps against the Issuer or any of its assets and all claims of the Expenses Loan Provider and the Swap Counterparty under the Expenses Loan Agreement and the Swap Agreements respectively against the Issuer in respect of any sum unpaid shall be extinguished. 17.3 Each of the Expenses Loan Provider and the Swap Counterparty hereby agrees with the Note Trustee that, subject to the proviso to this sub-clause: (i) it shall not be entitled to take, and shall not take, any steps whatsoever to enforce the Security created by Clause 3, or to direct the Note Trustee to do so; and (ii) it shall not be entitled to take, and shall not take, any steps (including the exercise of any right of set-off but not including the presentation of a petition for an administration order in relation to the Issuer) for the purpose of recovering any of the Secured Amounts owing to it or any other debts whatsoever owing to it by the Issuer or procuring the administration, winding-up, examination or liquidation of the Issuer or the making of a court protection order or the presentation of a petition for an administration order in relation to the Issuer in respect of any of its liabilities whatsoever, Provided that: (i) if the Note Trustee, having become bound to do so, fails to serve an Enforcement Notice and/or to take any steps or proceedings to enforce such Security pursuant to Clauses 6, 8 or 11 within a reasonable time, and such failure is continuing, each of the Expenses Loan Provider and the Swap Counterparty shall be entitled to take any such steps and proceedings as it shall deem necessary (other than the presentation of a petition for the winding-up of, or for an examination order or the making of a court protection order in respect of, the Issuer or the enforcement of any Security granted hereunder) provided that it shall not be entitled to take any steps or proceedings which could contravene Clauses 6 or 17; and (ii) this Clause shall not prevent the Expenses Loan Provider or the Swap Counterparty from taking any steps against the Issuer which do not amount to the commencement or the threat of commencement of legal proceedings against the Issuer or procuring the winding-up of the Issuer or the making of an administration order in relation to the Issuer to the extent of any amount which should have been paid to the Expenses Loan Provider pursuant to the applicable provisions of the Expenses Loan Agreement or to the Swap Counterparty pursuant to the applicable provisions of the Swap Agreements, save that nothing herein shall entitle the Expenses Loan Provider or, as the case may be, the Swap Counterparty, to take any action under this proviso for so long as any amount which is not paid to the Expenses Loan Provider or, as the case may be, the Swap Counterparty, is due solely to a breach by the relevant party of its duties in respect of the Issuer Related Documents or otherwise because the Issuer has insufficient sums available to it to make such payment.

Limited Recourse; Non-Petition. 17.1 No recourse under any obligation, covenant or agreement of the Issuer contained in these presents shall be made against any shareholder, officer or director of the Issuer as such, by the enforcement of any assignment or by any proceeding, by virtue of any statute or otherwise; it being expressly agreed and understood that these presents are a corporate obligation of the Issuer and no liability shall attach to, or be incurred by, the shareholders, officers, agents, or directors of the Issuer as such, or any of them, under or by reason of any of the obligations, covenants and agreements of the Issuer contained in these presents, or implied therefrom, and that any and all personal liability for breach by the Issuer of any of such obligations, covenants or agreements, either at law or by statute or certification, of every such shareholder, officer, agent or director is hereby expressly waived by the Issuer as a condition of any consideration for the execution of these presents. 17.2 After realisation of the Security created under this Deed and distribution of the net proceeds thereof in accordance with this Deed neither the Expenses Loan Provider nor the Swap Counterparty may not take any further steps against the Issuer or any of its assets and all claims of the Expenses Loan Provider and the Swap Counterparty under the Expenses Loan Agreement and the Swap Agreements respectively Related Documents against the Issuer in respect of any sum unpaid shall be extinguished. 17.3 Each of the The Expenses Loan Provider and the Swap Counterparty hereby agrees with the Note Trustee that, subject to the proviso to this sub-clause: (i) it shall not be entitled to take, and shall not take, any steps whatsoever to enforce the Security created by Clause 3, or to direct the Note Trustee to do so; and (ii) it shall not be entitled to take, and shall not take, any steps (including the exercise of any right of set-off but not including the presentation of a petition for an administration order in relation to the Issuer) for the purpose of recovering any of the Secured Amounts owing to it or any other debts whatsoever owing to it by the Issuer or procuring the administration, winding-up, examination or liquidation of the Issuer or the making of a court protection order or the presentation of a petition for an administration order in relation to the Issuer in respect of any of its liabilities whatsoever, Provided that: (i) if the Note Trustee, having become bound to do so, fails to serve an Enforcement Notice and/or to take any steps or proceedings to enforce such Security pursuant to Clauses 6, 8 or 11 within a reasonable time, and such failure is continuing, each of the Expenses Loan Provider and the Swap Counterparty shall be entitled to take any such steps and proceedings as it shall deem necessary (other than the presentation of a petition for the winding-up of, or for an examination order or the making of a court protection order in respect of, the Issuer or the enforcement of any Security granted hereunder) provided that it the Expenses Loan Provider shall not be entitled to take any steps or proceedings which could contravene Clauses 6 or 17; and (ii) this Clause shall not prevent the Expenses Loan Provider or the Swap Counterparty from taking any steps against the Issuer which do not amount to the commencement or the threat of commencement of legal proceedings against the Issuer or procuring the winding-up of the Issuer or the making of an administration order in relation to the Issuer to the extent of any amount which should have been paid to the Expenses Loan Provider pursuant to the applicable provisions of the Expenses Loan Agreement or to the Swap Counterparty pursuant to the applicable provisions of the Swap AgreementsAgreement, save that nothing herein shall entitle the Expenses Loan Provider or, as the case may be, the Swap Counterparty, to take any action under this proviso for so long as any amount which is not paid to the Expenses Loan Provider or, as the case may be, the Swap Counterparty, is due solely to a breach by the relevant party of its duties in respect of the Issuer Related Documents or otherwise because the Issuer has insufficient sums available to it to make such payment.

Limited Recourse; Non-Petition. 17.1 No recourse under any obligation, covenant or agreement of the Issuer contained in these presents shall be made against any shareholder, officer or director of the Issuer as such, by the enforcement of any assignment or by any proceeding, by virtue of any statute or otherwise; it being expressly agreed and understood that these presents are a corporate obligation of the Issuer and no liability shall attach to, or be incurred by, the shareholders, officers, agents, or directors of the Issuer as such, or any of them, under or by reason of any of the obligations, covenants and agreements of the Issuer contained in these presents, or implied therefrom, and that any and all personal liability for breach by the Issuer of any of such obligations, covenants or agreements, either at law or by statute or certification, of every such shareholder, officer, agent or director is hereby expressly waived by the Issuer as a condition of any consideration for the execution of these presents. 17.2 After realisation of the Security created under this Deed and distribution of the net proceeds thereof in accordance with this Deed neither the Expenses Loan Provider nor the Swap Counterparty may take any further steps against the Issuer or any of its assets and all claims of the Expenses Loan Provider and the Swap Counterparty under the Expenses Loan Agreement and the Swap Agreements respectively against the Issuer in respect of any sum unpaid shall be extinguished. 17.3 Each of the Expenses Loan Provider and the Swap Counterparty hereby agrees with the Note Trustee that, subject to the proviso to this sub-sub- clause: (i) it shall not be entitled to take, and shall not take, any steps whatsoever to enforce the Security created by Clause 3, or to direct the Note Trustee to do so; and (ii) it shall not be entitled to take, and shall not take, any steps (including the exercise of any right of set-off but not including the presentation of a petition for an administration order in relation to the Issuer) for the purpose of recovering any of the Secured Amounts owing to it or any other debts whatsoever owing to it by the Issuer or procuring the administration, winding-up, examination or liquidation of the Issuer or the making of a court protection order or the presentation of a petition for an administration order in relation to the Issuer in respect of any of its liabilities whatsoever, Provided that: (i) if the Note Trustee, having become bound to do so, fails to serve an Enforcement Notice and/or to take any steps or proceedings to enforce such Security pursuant to Clauses 6, 8 or 11 within a reasonable time, and such failure is continuing, each of the Expenses Loan Provider and the Swap Counterparty shall be entitled to take any such steps and proceedings as it shall deem necessary (other than the presentation of a petition for the winding-up of, or for an examination order or the making of a court protection order in respect of, the Issuer or the enforcement of any Security granted hereunder) provided that it shall not be entitled to take any steps or proceedings which could contravene Clauses 6 or 17; and (ii) this Clause shall not prevent the Expenses Loan Provider or the Swap Counterparty from taking any steps against the Issuer which do not amount to the commencement or the threat of commencement of legal proceedings against the Issuer or procuring the winding-up of the Issuer or the making of an administration order in relation to the Issuer to the extent of any amount which should have been paid to the Expenses Loan Provider pursuant to the applicable provisions of the Expenses Loan Agreement or to the Swap Counterparty pursuant to the applicable provisions of the Swap Agreements, save that nothing herein shall entitle the Expenses Loan Provider or, as the case may be, the Swap Counterparty, to take any action under this proviso for so long as any amount which is not paid to the Expenses Loan Provider or, as the case may be, the Swap Counterparty, is due solely to a breach by the relevant party of its duties in respect of the Issuer Related Documents or otherwise because the Issuer has insufficient sums available to it to make such payment.