NO PERSONAL LIABILITY OF DIRECTORS. OFFICERS, EMPLOYEES AND SHAREHOLDERS
NO PERSONAL LIABILITY OF DIRECTORS. OFFICERS, EMPLOYEES AND SHAREHOLDERS 76 Section 12.01. No Personal Liability 76
NO PERSONAL LIABILITY OF DIRECTORS. Officers, Employees, Incorporators and Stockholders No director, officer, employee, incorporator or stockholder of the Company or any Guarantor, as such, shall have any liability for any obligations of the Company or such Guarantor under the Notes or this Indenture or for any claim based on, in respect of, or by reason of, such obligations or their creation. Each Holder of Notes by accepting a Note waives and releases all such liability. The waiver and release shall be part of the consideration for the issuance of the Notes.
NO PERSONAL LIABILITY OF DIRECTORS. OFFICERS, EMPLOYEES AND STOCKHOLDERS OF THE NEW GUARANTOR. No director, officer, employee, incorporator or stockholder of the New Guarantor, as such, shall have any liability for any obligations of the Company, the New Guarantor or any guarantor under any series of Guaranteed Notes, any guarantees under any series of Guaranteed Notes, the Indenture or this Supplemental Indenture or for any claim based on, in respect of, or by reason of, such obligations or their creation. Each Holder of the Guaranteed Notes by accepting a Guaranteed Note waives and releases all such liability.
NO PERSONAL LIABILITY OF DIRECTORS. OFFICERS, PARTNERS, EMPLOYEES, INCORPORATORS, STOCKHOLDERS AND MEMBERS..................................92 SECTION 13.08. GOVERNING LAW.........................................................................92 SECTION 13.09. NO ADVERSE INTERPRETATION OF OTHER AGREEMENTS.........................................92 SECTION 13.10. SUCCESSORS............................................................................92 SECTION 13.11. SEVERABILITY..........................................................................92 SECTION 13.12.
NO PERSONAL LIABILITY OF DIRECTORS. Under the JPA Act, no Director shall be personally liable for any debts, obligations, or liabilities of the Library JPA, or on any bonds issued by the Library JPA, nor subject to any personal liability or accountability by reason of the Library JPA’s incurrence of debts, obligations or liabilities or issuance of bonds.
NO PERSONAL LIABILITY OF DIRECTORS. OFFICERS, EMPLOYEES, INCORPORATORS AND STOCKHOLDERS. No director, officer, employee, incorporator or stockholder of the Company, or any of its Affiliates, as such, shall have any liability for any obligations of the Company, and any of its Affiliates under the Notes, or this Indenture or for any claim based on, in respect of, or by reason of, such obligations or their creation. Each Holder of the Notes by accepting a Note waives and releases all such liability. The waiver and release are part of the consideration for issuance of the Notes. Such waiver may not be effective to waive liabilities under the federal securities laws and it is the view of the SEC that such waiver is against public policy.
NO PERSONAL LIABILITY OF DIRECTORS. Officers, Employees and Stockholders. 43 Section 11.10 Governing Law. 43 Section 11.11 No Adverse Interpretation of Other Agreements. 43 Section 11.12 Successors. 43 Section 11.13 Severability. 43 Section 11.14 Counterpart Originals. 44 Section 11.15 Table of Contents, Headings, Etc. 44 ARTICLE 12. SINKING FUNDS 44 Section 12.01 Applicability of Article. 44
NO PERSONAL LIABILITY OF DIRECTORS. OFFICERS, EMPLOYEES, INCORPORATORS AND STOCKHOLDERS. No past, present or future director, officer, employee, incorporator or stockholder of the Company, as such, shall have any liability for any obligations of the Company under the Notes or this Indenture or for any claim based on, in respect of, or by reason of, such obligations. Each Holder by accepting a Note waives and releases all such liability. Such waiver and release form a part of the consideration for issuance of the Notes.
NO PERSONAL LIABILITY OF DIRECTORS. OFFICERS, EMPLOYEES AND SHAREHOLDERS. NO STOCKHOLDER, OFFICER OR DIRECTOR, AS SUCH, PAST, PRESENT OR FUTURE, OF THE COMPANY OR ANY SUBSIDIARY GUARANTOR, SHALL HAVE ANY PERSONAL LIABILITY FOR ANY OBLIGATIONS OF THE COMPANY OR SUCH SUBSIDIARY GUARANTOR UNDER THE NOTES, THIS INDENTURE OR THE SUBSIDIARY GUARANTEES, AS THE CASE MAY BE, BY REASON OF HIS OR HER OR ITS STATUS AS SUCH STOCKHOLDER, OFFICER OR DIRECTOR. EACH HOLDER BY ACCEPTING A NOTE WAIVES AND RELEASES ALL SUCH LIABILITY. THE WAIVER AND RELEASE ARE PART OF THE CONSIDERATION FOR ISSUANCE OF THE NOTES AND THE SUBSIDIARY GUARANTEES. SUCH WAIVER MAY NOT BE EFFECTIVE TO WAIVE LIABILITIES UNDER THE FEDERAL SECURITIES LAWS, AND IT IS THE VIEW OF THE COMMISSION THAT SUCH A WAIVER IS AGAINST PUBLIC POLICY.
