No Recourse Against Others Clause Example from Business Contracts

No Recourse Against Others. No director, officer, employee, incorporator or stockholder of the Issuer or Holdings or any other direct or indirect parent or any New Subsidiary Guarantor, as such, will have any liability for any obligations of the Issuer or the New Subsidiary Guarantors under the Notes, the Indenture, the Guarantees or for any claim based on, in respect of, or by reason of, such obligations or their creation. Each Holder of Notes, by accepting a Note, waives and releases all such liability. This waiver and r...elease are part of the consideration for issuance of the Notes. This waiver may not be effective to waive liabilities under the federal securities laws. View More