No Recourse Against Others Clause Example from Business Contracts

No Recourse Against Others. No director, manager, officer, employee, incorporator, stockholder or member of the Guaranteeing Subsidiary, as such, will have any liability for any obligations of the Issuer or any Guaranteeing Subsidiary under the Notes, the Indenture, any Note Guarantees or this Supplemental Indenture 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 are part of... the consideration for issuance of the Notes. Such waiver may not be effective to waive liabilities under the federal securities laws. View More