Nonrecourse Obligation. Except as otherwise provided in this Article 12 or expressly stated in any of the other Loan Documents, Lender shall enforce the liability of Borrower to perform and observe the obligations contained in this Loan Agreement and in each other Loan Document only against the Property and other collateral given by Borrower as security for payment of the Loan and performance of Borrower's obligations under the Loan Documents and not against Borrower or any of Borrower's principals, directors, officers or employees. Notwithstanding the foregoing, this Article 12 is not applicable to the Environmental Indemnity or to any Guaranty executed in connection herewith.
Nonrecourse Obligation. Notwithstanding any other provision contained in this Contract to the contrary, if Purchaser defaults in Purchaser’s performance of this Contract, Seller’s sole remedy shall be to cancel this Contract in accordance with Minn. Stat. 559.21, as the same may from time to time be amended. Seller specifically waives any right it may have to commence an action for the specific performance of this Contract or any right it may have to seek an award of damages against Purchaser.
Nonrecourse Obligation. The Lender and the Borrower hereby agree that any and all amounts due hereunder or under the Note shall be payable solely from amounts, if any, distributed to the Borrower by the General Partner in respect of amounts released to the General Partner from the GP's Special Reserve as provided in the Partnership Agreement (amounts so distributed to the Borrower, "Released Amounts"
Nonrecourse Obligation. Notwithstanding any other term or provision hereof, Pledgor shall have no personal liability to pay any amounts due or to perform any obligations hereunder, Pledgee's sole recourse, in the event of default, shall be to proceed against the Collateral subject to this Pledge Agreement, and Pledgee shall not seek or obtain a deficiency judgment or order against Pledgor personally based upon the indebtedness secured hereby; provided, however, that nothing contained in this paragraph shall affect or impair the validity of the indebtedness evidenced by the Note or the lien of this Agreement, or the right of the Pledgee to proceed against the collateral subject to this Agreement following default in (a) the making of any payment required to be made pursuant to the Note, or (b) the performance of any of the obligations of Pledgor under the Note or this Agreement; and provided, further, that notwithstanding the foregoing, if Pledgee shall notify Pledgor after default that Pledgee proposes to retain the collateral subject to this Agreement in satisfaction of the obligations under the Note and Pledgor objects to such proposal or otherwise acts to prevent Pledgee's retention of such collateral, then Pledgor shall be and remain liable for any deficiencies remaining after disposition of such collateral in accordance with the Code and Pledgee may seek and obtain a deficiency judgment against Pledgor personally therefor.
Nonrecourse Obligation. Notwithstanding anything contained in this Agreement or elsewhere to the contrary, except as specifically provided hereinafter in this Section X, no judgment for the repayment of the indebtedness secured hereby or interest thereon will be enforced against the Debtors or either of them personally or any property of the Debtors or either of them other than the Collateral in any action to collect any amount payable hereunder or to enforce performance of any of the other provisions of this Agreement; provided, however:
(a) Nothing herein contained shall be construed as limiting or impairing the enforcement against the Collateral or otherwise prohibiting Secured Party from exercising any and all remedies which this Agreement or any other document, instrument or other agreement executed as security for or otherwise in connection with the indebtedness secured hereby (herein referred to collectively as the "Other Documents") permit, so long as the exercise of any remedy does not extend to execution against or recovery out of any property of Debtors or any of them other than the Collateral in any action to foreclose the security interest and pledge hereof or to collect any secured hereunder;
(b) Debtors shall be fully and personally liable, jointly and severally, for any and all costs, expenses and other sums payable to third parties (including, without limitation, attorney's fees and court costs) paid or incurred by Secured to enforce the indebtedness secured hereby, to protect or enforce Secured Party's security interest in the Collateral or otherwise to enforce its rights under or pursuant to this Agreement, or to enforce its rights under or pursuant to any one or more of the Other Documents.
Nonrecourse Obligation. Neither the Borrower nor any officer or director or partner of the Borrower shall have any direct or indirect personal liability for payment of the principal on this Note or the performance of the covenants of the Trustor under the Deed of Trust securing this Note. The sole recourse of the Agency with respect to the amounts owed under this Note and defaults by Trustor in the performance of its covenants under the Deed of Trust shall be to the Property securing the indebtedness evidenced by this Note. No judgment or execution thereon, entered in any action, legal or equitable, on this Note or the Deed of Trust shall be enforced personally against the Borrower or any partner of the Borrower, but shall be enforced only against the Property described in the Deed of Trust and such other or further security as, from time to time, may be hypothecated to secure this Note.
Nonrecourse Obligation. Notwithstanding anything to the contrary herein or in any document executed by Developer related to the Agreement, except in the event of: (i) Developer's misappropriation or intentional misapplication of monies advanced by the City under this Agreement for purposes other than those authorized herein; or (ii) Developer's fraud or intentional misrepresentation made by Developer in connection with its obligations under this Agreement, the City's sole recourse hereunder and under the Note and any other document executed by Xxxxxxxxx in connection with this Note shall be pursuant to the Assignment, and the City shall have no recourse to any assets of Developer other than the Plans, Reports and Data as provided in the Assignment.
Nonrecourse Obligation. Notwithstanding anything to the contrary contained in this Agreement, but without in any manner releasing, impairing or otherwise affecting this Agreement or the INS Contract, the liability and obligation of the Operator for the payment of the User Fee shall be non-recourse to the Operator and upon the occurrence of an Event of Default under Section 20(a) of this Agreement, the liability of Operator for any and all such Events of Default shall be limited to and be satisfied solely out of User Fees then due and payable, any and all amounts due to Operator under the INS Contract, all Operating Revenues (as defined in this Agreement) available therefor and all other Collateral, as defined in Section l(g) above. Owner shall not have the right to allocate and demand payment for any User Fee not then due and payable at the time of the occurrence of the Event of Default. Notwithstanding the limitation contained in the first subsection of this Section 38, nothing contained in this Section 38 shall be deemed to prejudice the rights of Owner or Trustee to (i) proceed against any entity or person whatsoever, including Operator with respect to the
Nonrecourse Obligation. (a) The obligations of the City under this Agreement:
(1) will be nonrecourse and payable only from:
(A) PID Assessment Revenues or
(B) net proceeds of PID Bonds and/or Future Improvement Area Bonds; and
(2) will not create a debt or other obligation payable from any other City revenues, taxes, income, or property.
(b) Neither the City nor any elected or appointed officials of the City, nor any employees of the City shall incur any liability hereunder to the Owner or any other party in their individual capacities by reason of this Agreement or their acts or omission under this Agreement.
Nonrecourse Obligation. Any obligations of the Owner hereunder are nonrecourse and are limited solely to moneys received by the Trustee pursuant to the Contract, or through funds made available pursuant to the Indenture or any insurance policies. 37. Disclaimer Regarding the Condition of the Property. MANAGER HAS BEEN GIVEN THE OPPORTUNITY TO INSPECT THE PRISON, AND IS AND WILL BE RELYING SOLELY ON ITS OWN INSPECTION OF THE PRISON IN MAKING ITS DECISION TO ENTER INTO THIS AGREEMENT. MANAGER SHALL ASSUME THE RISK THAT ADVERSE MATTERS CONCERNING THE PRISON MAY NOT HAVE BEEN REVEALED BY MANAGER’S INSPECTION OF THE PRISON. OWNER HAS NOT MADE, DOES NOT MAKE, AND SPECIFICALLY DISCLAIMS ANY REPRESENTATIONS, WARRANTIES, PROMISES, COVENANTS, AGREEMENTS, OR GUARANTIES OF ANY KIND OR CHARACTER WHATSOEVER, WHETHER EXPRESS CONCERNING OR WITH RESPECT TO THE PRISON DESCRIBED HEREIN, INCLUDING COVENANTS, AGREEMENTS, OR GUARANTIES CONCERNING (A) THE NATURE, QUALITY OR CONDITION OF THE PRISON OR ANY OF THE FIXTURES OR EQUIPMENT THEREIN; (B) THE SUITABILITY OF THE PRISON OR ANY OF THE FIXTURES OR EQUIPMENT THEREIN FOR ANY USE OR PURPOSE; OR (C) THE MERCHANTABILITY OF THE PRISON OR ANY OF THE FIXTURES OR EQUIPMENT THEREIN. MANAGER HEREBY ACCEPTS THE PRISON DESCRIBED IN ITS EXISTING CONDITION, “AS IS,” WITH ALL FAULTS AND DEFECTS OF ANY NATURE WHATSOEVER. MANAGER SHALL NOT HAVE ANY RIGHT TO RECOURSE AGAINST OWNER ON ACCOUNT OF ANY LOSS, COST OR EXPENSE SUFFERED OR INCURRED BY MANAGER WITH REGARD TO ANY OF THE PRECEDING MATTERS.
