Recourse Obligation. This Agreement and the Obligations hereunder are fully recourse to the Borrower, each Qualified Borrower, and to EQR pursuant to the EQR Guaranty and to any Down REIT Guarantor pursuant to any Down REIT Guaranty. Notwithstanding the foregoing, no recourse under or upon any obligation, covenant, or agreement contained in this Agreement shall be had against any officer, director, shareholder or employee of the Borrower or any officer, director, shareholder or employee of EQR except in the event of fraud or misappropriation of funds on the part of such officer, director, shareholder or employee.
Appears in 2 contracts
Samples: Revolving Credit Agreement (Equity Residential), Revolving Credit Agreement (Erp Operating LTD Partnership)
Recourse Obligation. This Agreement and the Obligations hereunder are fully recourse to the Borrower, each Qualified Borrower, Borrower and to EQR pursuant to the EQR Guaranty and to any Down REIT Guarantor pursuant to any Down REIT Guaranty. Notwithstanding the foregoing, no recourse under or upon any obligation, covenant, or agreement contained in this Agreement shall be had against any officer, director, shareholder or employee of the Borrower or any officer, director, shareholder or employee of EQR except in the event of fraud or misappropriation of funds on the part of such officer, director, shareholder or employee.
Appears in 2 contracts
Samples: Revolving Credit Agreement (Equity Residential), Revolving Credit Bridge Agreement (Equity Residential)
Recourse Obligation. This Agreement and the Obligations hereunder are fully recourse to the Borrower, each Qualified Borrower, and to EQR pursuant to the EQR Guaranty and to any Down REIT Guarantor pursuant to any Down REIT Guaranty. Notwithstanding the foregoing, no recourse under or upon any obligation, covenant, or agreement contained in this Agreement shall be had against any officer, director, shareholder or employee of the Borrower or any officer, director, shareholder or employee of EQR except in the event of fraud or misappropriation of funds on the part of such officer, director, shareholder or employee.
Appears in 1 contract
Samples: Revolving Credit Agreement (Erp Operating LTD Partnership)
Recourse Obligation. This Agreement and the Obligations hereunder are fully recourse to the Borrower, each Qualified Borrower, Borrower and to EQR pursuant to the EQR Guaranty and to any Down REIT Guarantor pursuant to any Down REIT Guaranty. Notwithstanding the foregoing, no recourse under or upon any obligation, covenant, or agreement contained in this Agreement shall be had against any officer, director, shareholder or employee of the Borrower or any officer, director, shareholder or employee of EQR except in the event of fraud or misappropriation of funds on the part of such officer, director, shareholder or employee.
Appears in 1 contract
