No Liability of Issuer. This Control Agreement shall not subject the Issuer to any obligation or liability except as expressly set forth herein. In particular, the Issuer need not investigate whether the Collateral Agent is entitled under the Pledge Agreement or otherwise to give an instruction or notice of sole control.
No Liability of Issuer. The Issuer shall not be obligated to pay the principal (or redemption price) of or interest on the Bonds, except from Revenues and other money and assets received by the Trustee on behalf of the Issuer pursuant to this Junior Loan Agreement. Neither the faith and credit nor the taxing power of the State or any political subdivision thereof, nor the faith and credit of the Issuer or any member is pledged to the payment of the principal (or redemption price) or interest on the Bonds. The Issuer shall not be liable for any costs, expenses, losses, damages, claims or actions, of any conceivable kind on any conceivable theory, under or by reason of or in connection with this Junior Loan Agreement, the Bonds or the Indenture, except only to the extent amounts are received for the payment thereof from the Borrower under this Junior Loan Agreement. The Borrower hereby acknowledges that the Issuer’s sole source of money to repay the Bonds will be provided by the payments made by the Borrower pursuant to this Junior Loan Agreement, together with investment income on certain funds and accounts held by the Trustee under the Indenture, and hereby agrees that if the payments to be made hereunder shall ever prove insufficient to pay all principal (or redemption price) and interest on the Bonds as the same shall become due (whether by maturity, redemption, acceleration or otherwise), then upon notice from the Trustee, the Borrower shall pay such amounts as are required from time to time to prevent any deficiency or default in the payment of such principal (or redemption price) or interest, including, but not limited to, any deficiency caused by acts, omissions, nonfeasance or malfeasance on the part of the Trustee, the Borrower, the Issuer or any third party, subject to any right of reimbursement from the Trustee, the Issuer or any such third party, as the case may be, therefor.
No Liability of Issuer. The Bonds are issued under and pursuant to the Act and shall be limited obligations of the Issuer payable solely out of the Receipts and Revenues of the Issuer from the Loan Agreement. No holder of any Bond has the right to compel any exercise of the taxing power of the Issuer to pay the Bonds or the interest or premium, if any, thereon, and the Bonds shall not constitute an indebtedness of the Issuer or a loan of credit thereof within the meaning of any constitutional or statutory provisions. ARTICLE IX
No Liability of Issuer. Anything herein to the contrary notwithstanding, nothing contained in this Indenture or in any other document that is a part of this transaction, including, but not limited to, the Bond Resolution of the Issuer, the Agreement and/or the Mortgage, shall, in any manner whatsoever be deemed to constitute a debt or a general obligation, or a pledge of the faith and credit of the Issuer, the State of Florida, or any political subdivision thereof, and does not directly or indirectly or contingently, obligate the Issuer, said State or any political subdivision thereof to levy or to pledge any form of taxation whatever for the payment of the principal indebtedness, redemption premium (if any), interest, or any other indebtedness, costs, or expense.
No Liability of Issuer. No breach or violation of any covenant, agreement or undertaking contained in this Indenture shall impose any pecuniary liability upon the Issuer or any charge upon its general credit or against its taxing powers, but the Issuer shall nonetheless be obligated with respect to, and liable to the extent of, the Trust Estate specifically pledged hereunder.
No Liability of Issuer. No Charge Against Issuer's Credit 28 Section 9.7. If Performance Date Not a Business Day 29 Section 9.8. Amendments, Changes and Modifications 29 Section 9.9. Execution in Counterparts 29 Section 9.10. Applicable Law 29 Section 9.11. Captions 29 Section 9.12. No Third Party Beneficiary 29 EXHIBIT A - Description of Project A-1 EXHIBIT B - Form of Promissory Note B-1 EXHIBIT C - Form of Project Fund Certificate and Requisition C-1 EXHIBIT D - Certificate of Completion D-1 LOAN AGREEMENT THIS LOAN AGREEMENT, dated as of April 1, 1998, between THE XXXXXXXX COUNTY INDUSTRIAL FACILITIES AND POLLUTION CONTROL FINANCING AUTHORITY (the "Issuer"), a political subdivision duly organized and existing under the laws and Constitution of the State of North Carolina (the "State") and FLANDERS CORPORATION, a corporation duly organized and existing under the laws of the State of North Carolina (the "Company");
No Liability of Issuer. The Bonds are issued under and pursuant to the Act and shall be limited obligations of the Issuer payable solely out of the Receipts and Revenues of. The Issuer from the Loan Agreement, payments under the Insurance Policy or other moneys pledged to secure the Bonds.' No holder of any Bond has the right to compel any exercise of the taxing power of the Issuer to pay the Bonds or the interest or premium, if any, thereon, and the Bonds shall not constitute an indebtedness of the Issuer or, a loan of credit thereof within the meaning of any constitutional or statutory provisions.
No Liability of Issuer. Anything herein to the contrary notwithstanding, nothing contained in this Agreement or in any other document that is a part of this transaction, including, but not limited to, the Bond Resolution of the Issuer, the Security Agreement, and/or the Indenture shall, in any manner whatsoever be deemed to constitute a debt or a general obligation, or a pledge of the faith and credit of the Issuer, the State of Georgia, or any political subdivision thereof, and does not directly or indirectly or contingently, obligate the Issuer, said State or any political subdivision thereof to levy or to pledge any form of taxation whatever for the payment of the principal indebtedness, redemption premium (if any), interest, or any other indebtedness, costs, or expense.
No Liability of Issuer. [Rider 25A]The Bonds are issued under and pursuant to the Act and shall be limited and not general obligations of the Issuer payable solely out of the Revenues derived from this Agreement. No Owner of any Bond has the right to compel any exercise of the taxing power of the Issuer to pay the principal of or premium, if any, or interest on the Bonds when due or the purchase price of any Bond. The Bonds shall not constitute or give rise to a pecuniary liability of the Issuer or constitute an indebtedness of or a charge against the general credit or taxing power of the Issuer or a loan of credit thereof within the meaning of any constitutional or statutory provisions. Neither the Issuer nor any member or officer of the Issuer nor any person executing the Bonds shall be liable personally on the Bonds or be subject to any personal liability or accountability by reason of the issuance of the Bonds.
No Liability of Issuer. The 1999 Series A Bonds shall be special and limited obligations of the Issuer payable solely and only out of the Facility Rentals paid pursuant to Section 4.03 hereof. No holder of any 1999 Series A Bond shall have the right to compel any exercise of the taxing power of the Commonwealth or any political subdivision thereof or the Issuer or to require the Issuer to pay or apply any of its general revenues to pay principal of, premium, if any, or interest on or purchase price of the 1999 Series A Bonds, and the 1999 Series A Bonds shall not constitute a general indebtedness of the Issuer, the Commonwealth or any political subdivision thereof or a loan of credit thereof within the meaning of any constitutional or statutory provision or limitation of indebtedness.
