Owner's Exculpation Sample Clauses
The Owner's Exculpation clause serves to limit or eliminate the liability of the property owner for certain actions, omissions, or damages that may occur in connection with the property or agreement. Typically, this clause specifies that the owner is not personally responsible for claims arising from the property, and any recourse by other parties is restricted to the owner's interest in the property itself, not their personal assets. By including this provision, the clause protects owners from personal financial exposure and clarifies the extent of their liability, thereby reducing risk and potential disputes over personal responsibility.
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Owner's Exculpation.
(a) Except as such liability may be eliminated or reduced by any constitutional, statutory, common law or other protections afforded to public bodies or governments (for such time as Owner is a Governmental Authority), including, but not limited to, sovereign immunity statutes, the liability of Owner (including, without limitation, with respect to any gross negligence or willful misconduct), or of any other Person who has at any time acted as Owner (for such time as Owner is a Governmental Authority) hereunder, for damages or otherwise, arising out of or in connection with any breach of this Lease or any injury (whether physical (including death) economic or otherwise) incurred in connection with this Lease or the Premises, shall be limited to One Million Dollars ($1,000,000) under this Lease, in the aggregate. As used in the preceding sentence, the terms “breach” and “injury” shall include all breaches and injuries arising out of the facts and circumstances resulting in such breach or injury.
Owner's Exculpation. No Recourse ------------------------------- If the Owner or any successor-in-interest be an individual, joint venture, tenancy-in-common, co-partnership, unincorporated association, limited partnership or other unincorporated group of individuals, or a corporation (all of which are referred to below, individually, and collectively, as an "Owner Entity"), then, anything herein to the contrary notwithstanding, Tenant shall look solely to the interest of such Owner Entity in the building in satisfaction of Tenant's remedies for the collection of a judgment (or other judicial process) requiring the payment of money by Owner, in the event of any default or breach by Owner with respect to any of the terms, covenants and conditions of this Lease to be observed and/or performed by Landlord, and no other property or assets of such Owner Entity or any member thereof, shall be subject to levy, execution or other enforcement procedure for the satisfaction of Tenant's remedies.
Owner's Exculpation. Anything in this Agreement to the contrary notwithstanding, Manager accepts and agrees that each of the covenants, undertakings and agreements herein made on the part of the Owner, while in the form purporting to be covenants, undertakings and agreements of the Owner, are, nevertheless, made and intended not as personal covenants, undertakings and agreements but are made and intended for the purpose of binding only the Owner's interest in the Project and Improvement and that no personal liability and personal responsibility shall accrue to Owner hereunder, such personal liability and personal responsibility, if any, being expressly waived and released by Manager. Manager further agrees not to seek or enforce any judgments (including but not limited to deficiency judgments, and any and all other judgments) obtained against the Owner beyond the interests of the Owner in the Project.
Owner's Exculpation. It is expressly understood and agreed by Management Company or any other entity hereafter claiming an interest pursuant to this Agreement that the liability of Owner hereunder, including any partner, officer or director of Owner, for damages or otherwise shall be limited to Owner's interest in the Site, Hotel and this Agreement and that no personal liability is assumed by nor shall be asserted or enforced against Owner or any of its respective successors or assigns.
Owner's Exculpation