Common use of No Liability of Issuer Clause in Contracts

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 Issuer shall not be obligated to pay the principal (or redemption price) of or interest on the Subordinate Bonds, except from Revenues and other money and assets received by the Subordinate Trustee on behalf of the Issuer pursuant to this Junior Subordinate 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 Subordinate 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 Subordinate Loan Agreement, the Subordinate Bonds or the Subordinate Indenture, except only to the extent amounts are received for the payment thereof from the Borrower under this Junior Subordinate Loan Agreement. The Borrower hereby acknowledges that the Issuer’s sole source of money to repay the Subordinate Bonds will be provided by the payments made by the Borrower pursuant to this Junior Subordinate Loan Agreement, together with investment income on certain funds and accounts held by the Subordinate Trustee under the Subordinate 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 Subordinate Bonds as the same shall become due (whether by maturity, redemption, acceleration or otherwise), then upon notice from the Subordinate 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 Subordinate Trustee, the Borrower, the Issuer or any third party, subject to any right of reimbursement from the Subordinate Trustee, the Issuer or any such third party, as the case may be, therefor.

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 It is understood and agreed by the Borrower that no covenant, provision or agreement of the Issuer shall not be obligated to pay herein or in the principal (Bonds or redemption price) in any other document executed by the Issuer in connection with the issuance, sale and delivery of or interest on the Bonds, except from Revenues and other money and assets received by or any obligation herein or therein imposed upon the Trustee on behalf Issuer or breach thereof, shall give rise to a pecuniary liability of the Issuer or a charge against its general credit or general fund or shall obligate the Issuer financially in any way except with respect to the application of revenues under this Agreement, and the proceeds of the Bonds. No failure of the Issuer to comply with any term, condition, covenant or agreement therein shall subject the Issuer to liability for any claim for damages, costs or other financial or pecuniary charges except to the extent that the same can be paid or recovered from this Agreement or revenues therefrom or proceeds of the Bonds. No execution on any claim, demand, cause of action or judgment shall be levied upon or collected from the general credit or general funds of the Issuer. In making the agreements, provisions and covenants set forth herein, the Issuer has not obligated itself except with respect to this Agreement and the application of revenues hereunder as hereinabove provided. The Bonds constitute special obligations of the Issuer, payable solely from the revenues pledged to the payment thereof pursuant to this Junior Loan Agreement. Neither Agreement and the faith Indenture, and do not now and shall never constitute an indebtedness or a loan of the credit nor of the taxing power of Issuer, the State or any political subdivision thereof, nor thereof within the faith and credit meaning of the Issuer any constitutional or any member is pledged to the payment of the principal (or redemption price) or interest on the Bondsstatutory provision whatsoever. The Issuer has no taxing power. It is further understood and agreed by the Borrower and the Holders that the Issuer shall incur no pecuniary liability hereunder and shall not be liable for any costsexpenses related hereto. If, expensesnotwithstanding the provisions of this Section, the Issuer incurs any expense, or suffers any losses, damages, claims or actions, of damages or incurs 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 Trusteeliabilities, 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, will indemnify and hold harmless the Issuer or any third party, subject to any right of reimbursement from the Trustee, same and will reimburse the Issuer for any legal or any such third partyother expenses incurred by the Issuer in relation thereto, as and this covenant to indemnify, hold harmless and reimburse the case may be, thereforIssuer shall survive delivery of and payment for the Bonds.