Common use of Non-Liability of Issuer Clause in Contracts

Non-Liability of Issuer. The Issuer shall not be obligated to pay the principal of, purchase price or premium, if any, or interest on the Bonds, except from Trust Estate Revenues and other amounts available to the Issuer therefor under the Bond Documents, with no obligation to seek collection thereof. The Company hereby acknowledges that the Issuer’s sole source of moneys to repay the Bonds will be provided by the payments made by the Company pursuant to this Financing Agreement, together with other Trust Estate Revenues, including investment income on certain funds held by the Trustee under the Indenture and the Collateral Agent under the Collateral Trust Agreement and Intercreditor Agreement and other amounts available therefor under the Bond Documents, and hereby agrees that if the payments to be made hereunder shall ever prove insufficient to pay all principal of, and premium, if any, 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 Company shall pay such amounts as are required from time to time to prevent any deficiency or default in the payment of such principal, premium or interest, including any deficiency caused by acts, omissions, nonfeasance or malfeasance on the part of the Trustee, the Company, the Issuer or any third party.

Appears in 2 contracts

Samples: Bond Financing Agreement (United States Steel Corp), Bond Financing Agreement (United States Steel Corp)

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Non-Liability of Issuer. The Issuer shall not be obligated to pay the principal of, purchase price or premium, if any, or interest on on, or Purchase Price of, the Bonds, except from Trust Estate Revenues and other amounts available to the Issuer therefor under the Bond Documents, with no obligation to seek collection thereofRevenues. The Company Borrower hereby acknowledges that the Issuer’s sole source of moneys to repay the Bonds will be provided by the payments made by the Company Borrower pursuant to this Financing AgreementAgreement and the Note, together with other Trust Estate RevenuesRevenues with respect to the Bonds, including amounts received by the Trustee under the Letter of Credit and investment income on certain funds and accounts held by the Trustee under the Indenture and the Collateral Agent under the Collateral Trust Agreement and Intercreditor Agreement and other amounts available therefor under the Bond DocumentsIndenture, and hereby agrees agree that if the payments to be made hereunder shall ever prove insufficient to pay all principal of, and Purchase Price of and premium, if any, 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 Company Borrower shall pay such amounts as are required from time to time to prevent any deficiency or default in the payment of such principal, Purchase Price, premium or interest, including including, but not limited to, any deficiency caused by acts, omissions, nonfeasance or malfeasance on the part of the Trustee, the CompanyBorrower, the Issuer Issuer, the Credit Provider, if any, or any third party.

Appears in 1 contract

Samples: Loan Agreement (Clean Energy Fuels Corp.)

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Non-Liability of Issuer. The Issuer shall not be obligated to pay the principal of, purchase price or premium, if any, or interest on on, or Purchase Price of, the Bonds, except from Trust Estate Revenues and other amounts available to the Issuer therefor under the Bond Documents, with no obligation to seek collection thereofRevenues. The Company hereby acknowledges that the Issuer’s sole source of moneys to repay the Bonds will be provided by the payments made by the Company pursuant to this Financing Agreement, together with other Trust Estate RevenuesRevenues with respect to the Bonds, including amounts received by the Trustee under the Guaranty, or the Letter of Credit and investment income on certain funds and accounts held by the Trustee under the Indenture and the Collateral Agent under the Collateral Trust Agreement and Intercreditor Agreement and other amounts available therefor under the Bond DocumentsIndenture, and hereby agrees that if the payments to be made hereunder shall ever prove insufficient to pay all principal of, and Purchase Price of and premium, if any, 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 Company shall pay such amounts as are required from time to time to prevent any deficiency or default in the payment of such principal, premium or interest, including including, but not limited to, any deficiency caused by acts, omissions, nonfeasance or malfeasance on the part of the Trustee, the Company, the Issuer Issuer, the Credit Provider, if any, or any third party. Nothing contained in this Agreement or the Indenture is intended to impose any pecuniary liability on the Issuer nor shall it in any way obligate the Issuer to pay any debt or meet any financial obligations to any person at any time in relation to the Project except from moneys received under the provisions of this Agreement or the Indenture or from the exercise of the Issuer’s rights hereunder or under the Indenture, other than moneys received for its own purposes.

Appears in 1 contract

Samples: Loan Agreement (Covanta Holding Corp)

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