No Recourse Against Others Clause Example from Business Contracts

No Recourse Against Others. No past, present, or future director, officer, employee, incorporator or stockholder of the Company or any Guarantor, or any of their direct or indirect parent companies, as such, will have any liability for any obligations of the Company or the Guarantors under the Notes, the Indenture or 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 a...nd release are 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