Common use of Exemption from Individual Liability Clause in Contracts

Exemption from Individual Liability. No Affiliate, officer, director, employee or stockholder, as such, of the Company, or its Subsidiaries, shall have any liability for any obligations of the Company under the Debenture or this Indenture, or for any claim based on, in respect of or by reason of such obligations or their creation. Each Debentureholder by accepting a Debenture hereby expressly waives and releases all such liability. The waiver and release are part of the consideration for the issue of the Debentures.