Nonliability of Authority Sample Clauses

Nonliability of Authority. This Master Loan Agreement and the Authority Loan shall not be deemed to constitute a debt or liability of the State or of any political subdivision thereof, or a pledge of the faith and credit of the State or of any political subdivision other than the Authority, but shall be payable solely from the funds therefor provided. Neither the State nor the Authority shall be obligated to pay the principal of the Authority or the premium, if any, or the interest thereon except from Payments made by the Borrower under this Master Loan Agreement, and neither the faith and credit nor the taxing power of the State or of any political subdivision thereof is pledged to the payment of the principal of or the premium, if any, or the interest on the Authority Loan. The execution and delivery of this Master Loan Agreement and the Authority Loan shall not directly or indirectly or contingently obligate the State or any political subdivision thereof to levy or to pledge any form of taxation whatever therefor or to make any appropriation for its payment. The Authority has no taxing power. The Authority shall not be liable for any costs, expenses, losses, damages, claims or actions, of any conceivable kind or any conceivable theory, under or by reason of or in connection with this Master Loan Agreement, except only to the extent amounts are received for payment thereof from the Borrower under this Master Loan Agreement. The Borrower hereby acknowledges that the Authority's sole source of moneys to repay the Authority Loan will be the Payments made by the Borrower hereunder, and hereby agrees that if the Payments to be made by the Borrower hereunder shall ever prove insufficient to pay all principal of, and premium, if any, and interest on the Authority Loan as the same shall become due (whether by maturity, prepayment, acceleration or otherwise), then upon notice, the Borrower 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, but not limited to, any deficiency caused by acts, omissions, nonfeasance or malfeasance on the part of the Borrower, the Authority or any third party. No member, officer, official, agent or employee of the Authority shall be individually or personally liable for the payment of the principal of the Authority Loan or the premium, if any, or interest on the Authority Loan or be subject to any personal liability or accountability by reason of the ori...
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Nonliability of Authority. The Authority shall not be obligated to pay the principal [or purchase price] of, and premium, if any, and interest on the Bonds, except from Revenues and other assets pledged under the Bond Indenture. Neither the faith and credit nor the taxing power of the State of California or any political subdivision thereof is pledged to the payment of the principal [or purchase price] of, premium, if any, or interest on the Bonds. The Authority shall not be liable for any costs, expenses, losses, damages, claims or actions, of any conceivable kind or any conceivable theory, under or by reason of or in connection with this Loan Agreement, [Obligation No. ___,] the Bonds or the Bond Indenture, except only to the extent amounts are received for payment thereof from the Borrower under this Loan Agreement [or from Members under Obligation No. ___
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Nonliability of Authority. EXPENSES; INDEMNIFICATION
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Nonliability of Authority. 1 SECTION 9.2. EXPENSES............................................................1 SECTION 9.3. INDEMNIFICATION.....................................................1 ARTICLE X MISCELLANEOUS
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Nonliability of Authority. The Authority shall not be obligated to pay the principal of, or premium, if any, or interest on the Bonds, except from Revenues. The Borrower hereby acknowledges that the Authority's sole source of moneys to repay the Bonds will be provided by the payments made by the Borrower pursuant to this Agreement, together with other Revenues with respect to the Bonds, including amounts received by the Trustee under the Credit Facility and investment income on certain funds and accounts held by the Trustee under the Indenture, 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 Borrower 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, but not limited to, any deficiency caused by acts, omissions, nonfeasance or malfeasance on the part of the Trustee, the Borrower, the Authority, the Credit Provider, if any, or any third party.
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Related to Nonliability of Authority

  • Warranty of Authority Each person signing this Amendment warrants that he or she is duly authorized to do so and to bind the respective party.

  • Limitation of Authority No person is authorized to make any representations concerning the Funds or the Shares except those contained in the Prospectus of each Fund and in such printed information as the Distributor may subsequently prepare. No person is authorized to distribute any sales material relating to any Fund without the prior written approval of the Distributor.

  • Termination of Authority Immediately upon the Executive terminating or being terminated from his employment with the Company for any reason, notwithstanding anything else appearing in this Agreement or otherwise, the Executive will stop serving the functions of his terminated or expired position(s) and shall be without any of the authority or responsibility for such position(s).

  • Limitations of Authority A. Neither Party has authority for or on behalf of the other except as provided in this XXX. No other authority, power, partnership, use of rights is granted or implied. B. This XXX represents the entire XXX by and between the Parties and supersedes all previous letters, understanding or oral agreements between the College and the School District. Any representations, promises, or guarantees made but not stated in the body of this XXX are null and void and of no effect. C. Neither Party may make, revise, alter, or otherwise diverge from the terms, conditions or policies which are subject to this XXX without a written amendment to this XXX. Changes to this XXX are subject to the approval of the College Legal Department. D. Neither Party may incur any debt, obligation expense, or liability or any kind against the other without the other's express written approval.

  • Reservation of Authority Nothing in this subpart shall limit the authority of the Secretary to take action to enforce conditions or violations of law, including actions necessary to prevent evasions of this subpart.

  • Representation of Authority Each individual executing this Agreement on behalf of a party hereto hereby represents and warrants that he or she is, on the date he or she signs this Agreement, duly authorized by all necessary and appropriate action to execute this Agreement on behalf of such party and does so with full legal authority.

  • EXTENT OF AUTHORITY exercise a degree of autonomy; • control projects and/or programmes; • set outcomes for subordinates; • establish priorities and monitor workflow in areas of responsibility; • solutions to problems can generally be found in documented techniques, precedents and guidelines or instructions. Assistance is available when required.

  • Lack of Authority No Member, other than the Manager or a duly appointed Officer, in each case in its capacity as such, has the authority or power to act for or on behalf of the Company, to do any act that would be binding on the Company or to make any expenditure on behalf of the Company. The Members hereby consent to the exercise by the Manager of the powers conferred on them by Law and this Agreement.

  • Limit of Authority Unless otherwise expressly limited by the resolution of appointment or by subsequent action by the Trust, the appointment of BOSTON FINANCIAL as Transfer Agent will be construed to cover the full amount of authorized stock of the class or classes for which BOSTON FINANCIAL is appointed as the same will, from time to time, be constituted, and any subsequent increases in such authorized amount. In case of such increase the Trust will file with BOSTON FINANCIAL: A. If the appointment of BOSTON FINANCIAL was theretofore expressly limited, a certified copy of a resolution of the Board of Trustees of the Trust increasing the authority of BOSTON FINANCIAL; B. A certified copy of the amendment to the Declaration of Trust of the Trust authorizing the increase of stock; C. A certified copy of the order or consent of each governmental or regulatory authority required by law to consent to the issuance of the increased stock, or an opinion of counsel that the order or consent of no other governmental or regulatory authority is required; D. Opinion of counsel for the Trust stating: (1) The status of the additional shares of stock of the Trust under the `33 Act and any other applicable federal or state statute; and (2) That the additional shares are, or when issued will be, validly issued, fully paid and non-assessable.

  • Delegation of Authority The General Partner may delegate any or all of its powers, rights and obligations hereunder, and may appoint, employ, contract or otherwise deal with any Person for the transaction of the business of the Partnership, which Person may, under supervision of the General Partner, perform any acts or services for the Partnership as the General Partner may approve.

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