Limited Recourse to the Issuer. Notwithstanding anything to the contrary contained herein, all Obligations of the Issuer shall be payable by the Issuer only to the extent of funds available therefor under Sections 2.01 6.03, and 6.06, and, to the extent such funds are not available or are insufficient for the payment thereof, shall not constitute a claim, as defined under Section 101 of the Bankruptcy Code, against the Issuer to the extent of such unavailability or insufficiency until such time as the Issuer has assets sufficient to pay such prior deficiency. This Section 11.15 shall survive the termination of this Security Agreement.
Appears in 2 contracts
Samples: Security Agreement (New Century Financial Corp), Security Agreement (New Century Financial Corp)
Limited Recourse to the Issuer. Notwithstanding anything to the contrary contained herein, all Obligations obligations of the Issuer shall be payable by the Issuer only to the extent of funds available therefor under Sections 2.01 6.032.01, 6.03 and 6.06, 6.06 of the Security Agreement and, to the extent such funds are not available or are insufficient for the payment thereof, shall not constitute a claim, as defined under Section 101 of the Bankruptcy Code, against the Issuer to the extent of such unavailability or insufficiency until such time as the Issuer has assets sufficient to pay such prior deficiency. This Section 11.15 25 shall survive the termination of this Security Agreement.
Appears in 2 contracts
Samples: Depositary Agreement (New Century Financial Corp), Depositary Agreement (New Century Financial Corp)
