No Recourse Against Others Clause Example from Business Contracts

No Recourse Against Others. No past, present or future director, officer, employee,incorporator, stockholder or agent of the Guaranteeing Subsidiary, as such, shall have anyliability for any obligations of the Company or any Guaranteeing Subsidiary under the Notes,any Note Guarantees, the Indenture or this Supplemental Indenture or for any claim based on, inrespect of, or by reason of, such obligations or their creation. Each Holder by accepting a Notewaives and releases all such liability. The waiver and release are part ...of the consideration forissuance of the Notes. Such waiver may not be effective to waive liabilities under the federalsecurities laws and it is the view of the SEC that such a waiver is against public policy. View More