Common use of Borrower’s Liability Clause in Contracts

Borrower’s Liability. Anything in this Agreement or any exhibits hereto, any certificate, opinion or documents of any nature whatsoever to the contrary notwithstanding, neither Lender nor its successors or assigns shall have any claim, remedy or right to proceed (at law or in equity) against Borrower or any incorporator, shareholder, director, officer, or employee of Borrower for the payment of any deficiency or any other sum owing on account of the indebtedness evidenced by any Non-Recourse Note or for the payment of any liability of any nature whatsoever with respect to any Non-Recourse Note, Non-Recourse Facility Contract or Non-Recourse Facility Equipment or any obligations of Borrower under this Agreement with respect to any Non-Recourse Note, Non-Recourse Facility Contract or Non-Recourse Facility Equipment (EXCEPT THAT LENDER SHALL NOT BE PROHIBITED FROM ASSERTING A CLAIM AGAINST BORROWER PERSONALLY WHICH CLAIM IS FOR ACTUAL DAMAGES DIRECTLY RESULTING FROM THE BORROWER'S FAILURE TO REMIT ANY CONTRACT PROCEEDS TO LENDER, OR THE OTHER BORROWER EVENTS OF DEFAULT DESCRIBED IN SUBSECTIONS (b) AND (c) OF SECTION 8.1), from any source other than the Collateral pertaining to such Non-Recourse Facility Contract, including the sums due and to become due under any Non-Recourse Facility Contract; and Lender by acceptance of a Non-Recourse Note waives and releases any liability of Borrower for and on account of such indebtedness or such liability, EXCEPT AS PROVIDED ABOVE, and Lender, its successors and assigns and the holders of any Non-Recourse Note agree to look either to the End-User pertaining to such Non-Recourse Facility Contract or to the Collateral pertaining to such Non-Recourse Facility Contract, including the sums due and to become due under such Non-Recourse Facility Contract for the payment of said indebtedness or the satisfaction of such liability.