No Liability for Deficiency Sample Clauses

No Liability for Deficiency. Debtor shall not be liable for any --------------------------- deficiency remaining on the Obligations after any disposition of any or all of the Collateral. Secured Party's sole recourse against Debtor in the Event of Default shall be against the Collateral.
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No Liability for Deficiency. If the proceeds of sale, collection or other realization of or upon the Collateral pursuant to Section 5.05 hereof are insufficient to cover the costs and expenses of such realization and the payment in full of the Secured Obligations, the Company shall not be liable for any deficiency.
Sample 1
No Liability for Deficiency. If the proceeds of sale, collection or other realization of or upon the Collateral pursuant to Section 5.05 hereof are insufficient to cover the costs and expenses of such realization and the payment in full of the Secured Obligations, the Parent shall not be liable for any deficiency.
Sample 1
No Liability for Deficiency. Secured Party acknowledges and agrees that the Note is non-recourse as against Gemini or the Members; and that in the event of Gemini’s default under the Note, Secured Party’s sole recourse will be against the Collateral as defined herein. As a result, Secured Party acknowledges that any deficiency remaining after the exercise by Secured Party of its rights hereunder shall be without further recourse against Gemini or Members.
Sample 1
No Liability for Deficiency. Notwithstanding anything contained herein to contrary, it is expressly agreed that Secured Party's rights and remedies hereunder are expressly limited to the Collateral, and Pledgor shall have no personal liability for the payment of any sums hereunder, except to the extent of the Collateral. If any claim of the Guaranteed Parties against the Pledgor shall be asserted under this Agreement, the Guaranteed Parties' rights in respect of the Obligations shall be limited to satisfaction out of, and enforcement against, the Collateral, and, except as hereinafter set forth, the Guaranteed Parties shall not have the right to proceed directly or indirectly against the Pledgor or against any of its Properties (other than the Collateral) for the satisfaction of any of the Obligations or of any such claim or liability or for any deficiency judgment (except that the Guaranteed Parties shall not be deemed by the provisions of this Section 6.4 to have waived any rights under any applicable law to the extent enforceable out of the Collateral or against the Pledgor relating to any dividend or distribution to the Pledgor in violation of the Credit Agreement or any other Financing Document). Notwithstanding any of the foregoing, it is expressly understood and agreed, however, that nothing contained in this Section 6.4 shall in any manner or way (a) constitute or be deemed to be a release of the Obligations or any such claim or liability or the Obligations secured by, or impair the enforceability of, the Liens and rights created by or arising from or in connection with the Credit Agreement, this Agreement and the other Financing Documents or, except as provided in the preceding sentence, restrict the remedies (including the right to join the Pledgor in any legal action, claim or proceeding) available to the Guaranteed Parties to realize upon the Collateral; (b) affect or diminish any covenant of the Pledgor; or (c) be deemed to release or in any manner limit the liability of the Pledgor for its fraudulent actions. The matters set forth in this Section 6.4 shall survive the termination of this Agreement.
Sample 1
No Liability for Deficiency. Upon the sale, license or other disposition of the Collateral, if the proceeds thereof are insufficient to pay all amounts to which the Secured Party are legally entitled, Pledgors will not be liable for the deficiency. To the extent permitted by applicable law, Pledgors waive all claims, damages and demands against the Secured Party arising out of the repossession, removal, retention or sale of the Collateral, unless due solely to the gross negligence or willful misconduct of the Secured Party as determined by a final judgment (not subject to further appeal) of a court of competent jurisdiction.
Sample 1

Related to No Liability for Deficiency

  • Liability for Deficiency If any sale or other disposition of Collateral by Secured Party or any other action of Secured Party hereunder results in reduction of the Obligations, such action will not release Debtor from its liability to Secured Party for any unpaid Obligations, including costs, charges and expenses incurred in the liquidation of Collateral, together with interest thereon, and the same shall be immediately due and payable to Secured Party at Secured Party's address set forth in the opening paragraph hereof.

  • Liability for Default 4.1 If Borrower conducts any material breach of any term of this Agreement, Lender shall have right to terminate this Agreement and require the Borrower to compensate all damages; this Section 4.1 shall not prejudice any other rights of Lender herein.

  • No Liability for Termination Neither party will be liable to the other for any termination or expiration of this Agreement in accordance with its terms.

  • No Liability Bank shall not be responsible or liable for any shortage or discrepancy in, damage to, or loss or destruction of, any goods, the sale or other disposition of which gives rise to an Account, or for any error, act, omission, or delay of any kind occurring in the settlement, failure to settle, collection or failure to collect any Account, or for settling any Account in good faith for less than the full amount thereof, nor shall Bank be deemed to be responsible for any of Borrower’s obligations under any contract or agreement giving rise to an Account. Nothing herein shall, however, relieve Bank from liability for its own gross negligence or willful misconduct.

  • No Liability for Interest Unless otherwise agreed with the Company, the Warrant Agent shall have no liability for interest on any monies at any time received by it pursuant to any of the provisions of this Agreement or of the Warrant Certificates.

  • No Liability Until Receipt The Custodian shall not be liable for, or considered to be the Custodian of, any money, whether or not represented by any check, draft, or other instrument for the payment of money, received by it on behalf of the Series, until the Custodian actually receives and collects such money.

  • No Liability of Others The Administrator’s obligations under this Agreement are corporate obligations. No Person will have recourse, directly or indirectly, against any member, manager, officer, director, employee or agent of the Administrator for the Administrator’s obligations under this Agreement.

  • No Liability for Ordinary Negligence Neither Silicon, nor any of its directors, officers, employees, agents, attorneys or any other Person affiliated with or representing Silicon shall be liable for any claims, demands, losses or damages, of any kind whatsoever, made, claimed, incurred or suffered by Borrower or any other party through the ordinary negligence of Silicon, or any of its directors, officers, employees, agents, attorneys or any other Person affiliated with or representing Silicon, but nothing herein shall relieve Silicon from liability for its own gross negligence or willful misconduct.

  • No Liability of Member Except as otherwise specifically provided in the Act, the Member shall not have any personal liability for the obligations of the Company. Except as provided in Section 4.1, the Member shall not be obligated to contribute funds or loan money to the Company.

  • No Liability for Invalidity The Warrant Agent shall have no liability with respect to any invalidity of this Agreement or any of the Warrant Certificates (except as to the Warrant Agent’s countersignature thereon).

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