Common use of Recourse Limited Clause in Contracts

Recourse Limited. No recourse shall be had to any subscriber, officer, director, employee, trustee, equity holder, certificate holder, incorporator or agent of the Purchaser or its successors or assigns for any obligations hereunder. The Sellers, severally and jointly, further agree (i) not to take any action in respect of any claims hereunder against any subscriber, officer, director, employee, trustee, equity holder, certificate holder, incorporator or agent of the Purchaser or any of its successors or assigns that is an investment vehicle issuing collateralized debt obligations and (ii) not to institute against any successor or assign of the Purchaser that is an investment vehicle issuing collateralized debt obligations any insolvency, bankruptcy, reorganization, liquidation or similar proceedings in any jurisdiction until one year and one day or, if longer, the applicable preference period then in effect, as the case may be, shall have elapsed since the final payments to the holders of the securities issued by such investment vehicle.

Recourse Limited. No recourse shall be had to any subscriber, ---------------- officer, director, employee, trustee, equity holder, certificate holder, incorporator or agent of the any Purchaser or its successors or assigns for any obligations hereunder. The Sellers, severally and jointly, further agree (i) not to take any action in respect of any claims hereunder against any subscriber, officer, director, employee, trustee, equity holder, certificate holder, incorporator or agent of the any Purchaser or any of its successors or assigns that is an investment vehicle issuing collateralized debt obligations and (ii) not to institute against any successor or assign of the Purchaser Purchasers that is an investment vehicle issuing collateralized debt obligations any insolvency, bankruptcy, reorganization, liquidation or similar proceedings in any jurisdiction until one year and one day or, if longer, the applicable preference period then in effect, as the case may be, shall have elapsed since the final payments to the holders of the securities issued by such investment vehicle.