No Personal Liability of Incorporators, Shareholders, Officers, Directors or Employees Sample Clauses

No Personal Liability of Incorporators, Shareholders, Officers, Directors or Employees. No recourse for the payment of the principal of, premium, if any, or interest on any of the Notes, or for any claim based thereon or otherwise in respect thereof, and no recourse under or upon any obligation, covenant or agreement of the Company or any Subsidiary Guarantor herein or in any of the Notes or because of the creation of any Indebtedness represented thereby, shall be had against any incorporator, shareholder, officer, director, employee or controlling person of the Company, any Subsidiary Guarantor or any successor Person thereof. Each Holder, by accepting such Notes waives and releases all such liability.
Sample 1Sample 2See All (6)
AutoNDA by SimpleDocs
No Personal Liability of Incorporators, Shareholders, Officers, Directors or Employees. No director, officer, controlling person, employee or stockholder of the Company, any Guarantor or any successor Person thereof shall have any liability for any Obligations, covenants or agreements of the Company or any Guarantor under the Securities or this Indenture or for any claim based on, in respect of or by reason of such Obligations or their creation. No recourse under or upon any obligation, covenant or agreement of the Company or any Guarantor in this Indenture or in any of the Securities or because of the creation of any Indebtedness represented thereby, shall be held against any incorporator, stockholder, officer, director, employee or controlling person of the Company, any Guarantor or any successor Person thereof. Each Holder by accepting a Security waives and releases all such liability. The waiver and releases are part of the consideration for the issue of the Securities.
Sample 1
No Personal Liability of Incorporators, Shareholders, Officers, Directors or Employees. No recourse for the payment of the principal of or premium, if any, or interest or Liquidated Damages or Additional Amounts, if any, on any of the Senior Notes or for any claim based thereon or otherwise in respect thereof, and no recourse under or upon any obligation, covenant or agreement of the Company in the Indenture, any supplemental indenture, or in any of the Senior Notes or because of the creation of any Indebtedness represented thereby, shall be had against any incorporator, shareholder, officer, director, employee or controlling person of the Company or of any successor Person thereof, whether by virtue of any constitution, statute or rule of law or by the enforcement of any amendment or penalty or otherwise. Each Holder, by accepting the Senior Notes, waives and releases all such liability. The waiver and release are part of the consideration for issuance of the Senior Notes. Such waiver may not be effective to waive liabilities under Article 34 of the Argentine Negotiable Obligations Law, Article 34 of Law No. 19,550, as amended, and other Argentine regulations or under the U.S. federal securities laws and it is the view of the Commission that such a waiver is against public policy.
Sample 1

Related to No Personal Liability of Incorporators, Shareholders, Officers, Directors or Employees

  • Immunity of Incorporators Stockholders Officers and Directors Section 15.01 Immunity of Incorporators, Stockholders, Officers and Directors. No recourse under or upon any obligation, covenant or agreement of this Indenture, or of any Security, or for any claim based thereon or otherwise in respect thereof, shall be had against any incorporator, stockholder, officer or director, as such, past, present or future, of the Company or of any successor corporation, either directly or through the Company, whether by virtue of any constitution, statute or rule of law, or by the enforcement of any assessment or penalty or otherwise; it being expressly understood that this Indenture and the obligations issued hereunder are solely corporate obligations, and that no personal liability whatever shall attach to, or is or shall be incurred by, the incorporators, stockholders, officers or directors, as such, of the Company or any successor corporation, or any of them, because of the creation of the indebtedness hereby authorized, or under or by this Indenture or in any of the Securities or implied therefrom; and that any and all such personal liability of every name and nature, either at common law or in equity or by constitution or statute, of, and any and all such rights and claims against, every such incorporator, stockholder, officer or director, as such, because of the creation of the indebtedness hereby authorized, or under or by reason of the obligations, covenants or agreements contained in this Indenture or in any of the Securities or implied therefrom are hereby expressly waived and released as a condition of, and as a consideration for, the execution of this Indenture and the issue of such Securities.

  • No Personal Liability of Directors, Officers, Employees and Stockholders No past, present or future director, officer, employee, incorporator or stockholder of the Company, as such, will have any liability for any obligations of the Company under the Indenture or the Notes or for any claim based on, in respect of, or by reason of, such obligations or their creation. By accepting any Note, each Holder waives and releases all such liability. Such waiver and release are part of the consideration for the issuance of the Notes.

Time is Money Join Law Insider Premium to draft better contracts faster.