Nonrecourse Obligations. Notwithstanding any provision in any other Section of this Agreement to the contrary, any obligation of Buyer to pay any amounts payable to the Originators pursuant to this Agreement shall be without recourse to Buyer except to the extent that funds from Advances or Collections are available to Buyer pursuant to the terms of the Funding Agreement for such payment (collectively, the “Buyer Available Amounts”). In the event that amounts payable to the Originators pursuant to this Agreement exceed Buyer Available Amounts, the excess of the amounts due hereunder (and subject to this Section 6.15) over the Buyer Available Amounts paid shall not constitute a “claim” under Section 101(5) of the Bankruptcy Code against Buyer until such time as Buyer has Buyer Available Amounts.
Nonrecourse Obligations. Notwithstanding anything in this Agreement or any Related Document, the Owner Trustee agrees in its individual capacity and in its capacity as Owner Trustee for the Trust that all obligations of the Trust to the Owner Trustee individually or as Owner Trustee for the Trust shall be recourse to the Trust Property only and specifically shall not be recourse to the assets of any Certificateholder.
Nonrecourse Obligations. Notwithstanding any provision in any other Section of this Agreement to the contrary, the obligation of the Issuer to pay any amounts payable to a Purchaser or any other Owner pursuant to Sections 2.06, 2.07, 2.08, 2.09, 5.02 and 7.08 of this Agreement shall be without recourse to the Issuer (or its assignee, if applicable), the Servicer (or any Person acting on behalf of any of them), the Trustee or any other Owner or any affiliate, officer or director of any of them, and the obligation of the Issuer to pay any amounts hereunder shall be limited solely to the application of Pool Collections and other amounts (collectively, the “Available Amounts”) required to be distributed to the Managing Agents, on behalf of the related Purchasers, in the Indenture, to the extent that such amounts are available for distribution. In the event that amounts payable to a Purchaser or any other Owner pursuant to this Agreement exceed the Available Amounts, the excess of the amounts due hereunder (and subject to this Section 2.10) over the Available Amounts paid shall not constitute a “claim” under Section 101(5) of the Federal Bankruptcy Code against the applicable party until such time as such party has Available Amounts.
Nonrecourse Obligations. Shipper acknowledges and agrees that (a) Transporter is a Delaware limited liability company; (b) Shipper shall have no recourse against any member of Transporter with respect to Transporter’s obligations under this Agreement and its sole recourse shall be against the assets of Transporter, irrespective of any failure to comply with applicable law or any provision of this Agreement; (c) no claim shall be made against any member of Transporter under or in connection with this Agreement; (d) Shipper shall have no right of subrogation to any claim of Transporter for any Capital Contribution from any member of Transporter; and (e) this representation is made expressly for the benefit of the members in Transporter.
Nonrecourse Obligations. Each Lender and the Agent ----------------------- (collectively, the "Creditors") hereby acknowledge and agree that, except as set --------- forth in Section 11.2, no member, and no Affiliate of the Company, and no ------------ present or future officer, employee, servant, controlling person, manager, agent, Authorized Representative or Member of the Company, any member or any Affiliate of either the Company or a Member (collectively, the "Nonrecourse ----------- Persons"), shall have any liability to all or any of the Creditors (such ------- liability, including such as may arise by operation of law, being hereby waived) for the payment of any sums now or hereafter owing by the Company under this Agreement or any other Credit Document or for the performance of any of the obligations of the Company contained herein or therein or shall otherwise be liable or responsible with respect thereto. Without limiting the foregoing, (i) dividends or other distributions made by the Company in accordance with Section ------- 9.28, shall not be deemed to be Collateral in which the Creditors have any ---- security interest or other interest and the Lien of any security interest or any other Lien granted by the Company to any of the Creditors under the Project Mortgage or the Security Agreement shall not extend to any amounts that have been distributed, by dividend or otherwise, by the Company to any of its Members in accordance with Section 9.28. If any Default or Unmatured Default shall ------------ exist or if any claim of the Creditors against the Company or alleged liability of the Company to the Creditors shall be asserted under this Agreement or any other Credit Document, then the Creditors agree that, except as set forth in Section 11.2, ------------ they shall not have the right to proceed directly or indirectly against the Nonrecourse Persons or against their respective properties and assets for the satisfaction of any Secured Obligations or for any deficiency judgment (except ------ to the extent enforceable out of the Collateral as to which such Nonrecourse Person has an interest) in respect of the Secured Obligations.
Nonrecourse Obligations. Shipper acknowledges and agrees that (a) Company is a Delaware limited liability company; (b) Shipper shall have no recourse against any member of Company with respect to Company's obligations under this agreement and its sole recourse shall be against the assets of Company, irrespective of any failure to comply with applicable law or any provision of this agreement; (c) no claim shall be made against any member of Company under or in connection with this Agreement; (d) Shipper shall have no right of subrogation to any claim of Company for any Capital Contribution from any member of Company; and (e) this representation is made expressly for the benefit of the members in Company.
Nonrecourse Obligations. A copy of the Master Trust Agreement, as ----------------------- amended from time to time, of the Customer is on file with Secretary of State of Massachusetts, and notice is hereby given that this Agreement is not executed on behalf of the Trustees of the Customer as individuals, and the obligations of this Agreement are not binding upon any of the Trustees, officers, or shareholders of the Customer individually, but are binding only upon the assets and property of the Customer. The Bank agrees that no shareholder, Trustee or officer of the Customer may be held personally liable or responsible for any obligations of the Customer arising hereunder.
Nonrecourse Obligations. Acquiring Shipper acknowledges and agrees that (a) Transporter is a Delaware limited liability company; (b) Acquiring Shipper shall have no recourse against any member of Transporter with respect to Transporter's obligations under this Agreement and its sole recourse shall be against the assets of Transporter, irrespective of any failure to comply with applicable law or any provision of this Agreement;
Nonrecourse Obligations. Notwithstanding any other provision of this Agreement to the contrary, the obligations of Owner hereunder are recourse only to the assets of Owner and neither the partners of Owner nor any shareholder, director, officer, agent or affiliate of Owner or any partner of Owner, shall have any personal responsibility or liability for any payment obligations of Owner hereunder, or otherwise for any breach in performance or observance of the covenants, representations, or obligations of Owner hereunder.
Nonrecourse Obligations. The provisions of Article XXI of the Master Agreement (entitled Nonrecourse Obligations), which limit the Lender's recourse against Grantor, are hereby incorporated into this Special Rider by this reference to the fullest extent as if the text of such Article were set forth in its entirety herein.
