Common use of No Recourse Against Certain Persons Clause in Contracts

No Recourse Against Certain Persons. No recourse under or with respect to any obligation, covenant or agreement (including any obligation or agreement to pay fees or any other amount) of any Borrower, any Contingent Obligor, any Lender, any Agent, the Lender Collateral Agent or the Administrative Agent contained in this Agreement or any other agreement, instrument or document entered into by it pursuant hereto or in connection herewith shall be had (unless expressly assumed by such party) against any incorporator, affiliate, stockholder, partner, officer, employee or director of any Borrower, any Contingent Obligor, any Agent, any Lender, the Lender Collateral Agent or the Administrative Agent, as such, by the enforcement of any assessment, by any legal or equitable proceeding, by virtue of any statute or otherwise; it being expressly agreed and understood that the agreements of each party contained in this Agreement and all of the other agreements, instruments and documents entered into by it pursuant hereto or in connection herewith are, in each case, solely the partnership or corporate obligations of such party, and that no personal liability whatsoever shall attach to or be incurred by any incorporator, stockholder, partner, affiliate, officer, employee or director of such party, as such, or any of them, under or by reason of any of the obligations, covenants or agreements of any Borrower, any Contingent Obligor, any Lender, any Agent, the Lender Collateral Agent or the Administrative Agent contained in this Agreement or in any other such instrument, document or agreement, or which are implied therefrom, and that any and all personal liability of every such incorporator, stockholder, partner, affiliate, officer, employee or director of any Borrower, any Contingent Obligor, any Lender, any Agent, the Lender Collateral Agent or the Administrative Agent for breaches by any Borrower, any Contingent Obligor, any Lender, any Agent, the Lender Collateral Agent or the Administrative Agent of any such obligations, covenants or agreements, which liability may arise either at common law or at equity, by statute or constitution, or otherwise, is hereby expressly waived as a condition of and in consideration for the execution of this Agreement. The provisions of this Section 8.17 shall survive the termination of this Agreement.

Appears in 2 contracts

Samples: Credit Agreement (Americredit Financial Services Inc), Credit Agreement (Americredit Corp)

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No Recourse Against Certain Persons. No recourse under or with respect to any obligation, covenant or agreement (including any obligation or agreement to pay fees or any other amount) of any the Borrower, any Contingent Obligor, any Lender, any Agent, the Lender Collateral Agent or the Administrative Agent contained in this Agreement or any other agreement, instrument or document entered into by it pursuant hereto or in connection herewith shall be had (unless expressly assumed by such party) against any incorporator, affiliate, stockholder, partner, officer, employee or director of any the Borrower, any Contingent Obligor, any Agent, any Lender, the Lender Collateral Agent or the Administrative Agent, as such, by the enforcement of any assessment, by any legal or equitable proceeding, by virtue of any statute or otherwise; it being expressly agreed and understood that the agreements of each party contained in this Agreement and all of the other agreements, instruments and documents entered into by it pursuant hereto or in connection herewith are, in each case, solely the partnership or corporate obligations of such party, and that no personal liability whatsoever shall attach to or be incurred by any incorporator, stockholder, partner, affiliate, officer, employee or director of such party, as such, or any of them, under or by reason of any of the obligations, covenants or agreements of any the Borrower, any Contingent Obligor, any Lender, any Agent, the Lender Collateral Agent or the Administrative Agent contained in this Agreement or in any other such instrument, document or agreement, or which are implied therefrom, and that any and all personal liability of every such incorporator, stockholder, partner, affiliate, officer, employee or director of any the Borrower, any Contingent Obligor, any Lender, any Agent, the Lender Collateral Agent or the Administrative Agent for breaches by any the Borrower, any Contingent Obligor, any Lender, any Agent, the Lender Collateral Agent or the Administrative Agent of any such obligations, covenants or agreements, which liability may arise either at common law or at equity, by statute staute or constitution, or otherwise, is hereby expressly waived as a condition of and in consideration for the execution of this Agreement. The provisions of this Section SECTION 8.17 shall survive the termination of this Agreement.

Appears in 1 contract

Samples: Credit Agreement (Americredit Corp)

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No Recourse Against Certain Persons. (a) No recourse under or with respect to any obligation, covenant or agreement (including including, without limitation, the payment of any obligation or agreement to pay fees or any other amountobligations) of any Borrower, any Contingent Obligor, any Lender, any Agent, the Lender Collateral Agent or the Administrative Agent Secured Party as contained in this Agreement or any other agreement, instrument or document entered into by it pursuant hereto or in connection herewith shall be had (unless expressly assumed by against any administrator of such party) against Secured Party or any incorporator, affiliate, stockholder, partner, officer, employee or director of such Secured Party or of any Borrower, any Contingent Obligor, any Agent, any Lender, the Lender Collateral Agent or the Administrative Agentsuch administrator, as such, by the enforcement of any assessment, assessment or by any legal or equitable proceeding, by virtue of any statute or otherwise; it being expressly agreed and understood IT BEING EXPRESSLY AGREED AND UNDERSTOOD that the agreements of each party such Secured Party contained in this Agreement and all of the other agreements, instruments and documents entered into by it pursuant hereto or in connection herewith are, in each case, solely the partnership or corporate obligations of such partySecured Party, and that no personal liability whatsoever shall attach to or be incurred by any incorporatoradministrator of such Secured Party or any incorporation, stockholder, partner, affiliate, officer, employee or director of such partySecured Party or of any such administrator, as such, or any other of them, under or by reason of any of the obligations, covenants or agreements of any Borrower, any Contingent Obligor, any Lender, any Agent, the Lender Collateral Agent or the Administrative Agent such Secured Party contained in this Agreement or in any other such instrumentinstruments, document documents or agreementagreements, or which that are implied therefrom, and that any and all personal liability of every such administrator of such Secured Party and each incorporator, stockholder, partner, affiliate, officer, employee or director of such Secured Party or of any Borrowersuch administrator, or any Contingent Obligorof them, any Lender, any Agent, the Lender Collateral Agent or the Administrative Agent for breaches by any Borrower, any Contingent Obligor, any Lender, any Agent, the Lender Collateral Agent such Secured Party or the Administrative Agent of any such obligations, covenants or agreements, which liability may arise either at common law or at equity, by statute or constitution, constitution or otherwise, is hereby expressly waived as a condition of and an in consideration for the execution of this Agreement. The provisions of this Section 8.17 5.9 shall survive the termination of this Agreement.

Appears in 1 contract

Samples: Security Agreement (First Investors Financial Services Group Inc)

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