No Recourse Against Others Clause Example from Business Contracts

No Recourse Against Others. No director, officer, employee, incorporator, stockholder, partner or member of the Issuer, the Parent or any Guarantor, as such, will have any liability for any obligations of the Issuer, the Parent or the Guarantors under the Notes, the Indenture, this Supplemental Indenture, the Note 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. The waiver and release ar...e part of the consideration for issuance of the Notes. The waiver may not be effective to waive liabilities under the federal securities laws. View More