Common use of Exemption from Individual Liability Clause in Contracts

Exemption from Individual Liability. No recourse under or upon any obligation, covenant or agreement of this Indenture, or of any Security of any series or any Coupon appertaining thereto, or for any claim based thereon or otherwise in respect thereof, shall be had against any incorporator, stockholder, officer or director, as such, past, present or future, of the Company or of any successor corporation, either directly or through the Company or any successor corporation, whether by virtue of any constitution, statute or rule of law, or by the enforcement of any assessment or penalty or otherwise; it being expressly understood that this Indenture and the obligations issued hereunder are solely corporate obligations, and that no such personal liability whatever shall attach to, or is or shall be incurred by, the incorporators, stockholders, officers or directors, as such, of the Company or of any successor corporation, or any of them, because of the creation of the indebtedness hereby authorized, or under or by reason of the obligations, covenants or agreements contained in this Indenture or in any Securities of any series or any Coupon appertaining thereto or implied therefrom; and that any and all such personal liability, either at common law or in equity or by constitution or statute, of, and any and all such rights and claims against, every such incorporator, stockholder, officer or director, as such, because of the creation of the indebtedness hereby authorized, or under or by reason of the obligations, covenants or agreements contained in this Indenture or in any such Securities or any Coupon appertaining thereto or implied therefrom, are hereby expressly waived and released as a condition of, and as a consideration for, the execution of this Indenture and the issue of such Securities and Coupons. ARTICLE FIFTEEN

Exemption from Individual Liability. No recourse under or upon any obligation, covenant or agreement of the Company in this Indenture, or of any Security of any series or any Coupon appertaining theretoSecurity, or for any claim based thereon or otherwise in respect thereof, shall be had against any incorporatororganizer, stockholderpromoter, officer shareholder, officer, trustee, or directoremployee, as such, past, present or future, of the Company or of any successor corporationentity, either directly or through the Company or any successor corporationentity, whether by virtue of any constitution, statute or rule of law, or by the enforcement of any assessment or penalty or otherwise; it being expressly understood that this Indenture, any supplemental indenture modifying this Indenture and the obligations issued hereunder are solely corporate obligationsreal estate investment trust obligations of the Company, and that no such personal liability whatever shall attach to, or is or shall be incurred by, the incorporatorsorganizers, stockholderspromoters, officers shareholders, officers, trustees, or directorsemployees, as such, of the Company or of any successor corporationentity, or any of them, because of the creation of the indebtedness hereby authorized, or under or by reason of the obligations, covenants or agreements contained in this Indenture, in any supplemental indenture modifying this Indenture or in any of the Securities of any series or any Coupon appertaining thereto or implied therefrom; and that any and all such personal liability, either at common law or in equity or by constitution or statute, of, and any and all such rights and claims against, every such incorporatororganizer, stockholderpromoter, officer shareholder, officer, trustee, or directoremployee, as such, because of the creation of the indebtedness hereby authorized, or under or by reason of the obligations, covenants or agreements contained in this Indenture Indenture, in any supplemental indenture modifying this Indenture, or in any such of the Securities or any Coupon appertaining thereto or implied therefrom, are hereby expressly waived and released as a condition of, and as a consideration for, the execution of this Indenture, any supplemental indenture modifying this Indenture and the issue of such Securities Securities. ***** This instrument may be executed in any number of counterparts, each of which so executed shall be deemed to be an original, but all such counterparts shall together constitute but one and Coupons. ARTICLE FIFTEENthe same instrument.