Common use of No Recourse Against Lender Clause in Contracts

No Recourse Against Lender. Notwithstanding anything to the contrary contained in this Loan Agreement, the obligations of the Lenders under this Loan Agreement and all other Operative Documents are solely the corporate obligations of the Lenders and shall be payable solely to the extent of funds received from the Borrower in accordance herewith or from any party to any Operative Document in accordance with the terms thereof in excess of funds necessary to pay matured and maturing Commercial Paper.

Appears in 2 contracts

Samples: Variable Funding Loan Agreement (Walter Industries Inc /New/), Variable Funding Loan Agreement (Walter Industries Inc /New/)

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No Recourse Against Lender. Notwithstanding anything to the contrary contained in this Loan Agreement, the obligations of the Lenders Lender under this Loan Agreement and all other Operative Documents are solely the corporate obligations of the Lenders Lender and shall be payable solely to the extent of funds received from the Borrower in accordance herewith or from any party to any Operative Document in accordance with the terms thereof in excess of funds necessary to pay matured and maturing Commercial Paper.

Appears in 2 contracts

Samples: Funding Loan Agreement (Walter Industries Inc /New/), Funding Loan Agreement (Walter Industries Inc /New/)

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