Common use of Full Recourse Liability Clause in Contracts

Full Recourse Liability. Notwithstanding the provisions of Paragraph 8 of this Note, the EXCULPATED PARTIES SHALL HAVE PERSONAL LIABILITY for the Obligations if: (a) there shall be any breach or violation of Article V of the Instrument (the amount of such personal liability under this Paragraph 9(a), however, shall be limited to the actual losses suffered by Lender because of such breach); or (b) there shall be any actual, but not constructive fraud, in connection with the Loan by any of the Exculpated Parties in connection with the Property, the Documents, the Loan application, or any other aspect of the Loan; or (c) the Property shall become an asset in (i) a voluntary bankruptcy or insolvency proceeding or (ii) an involuntary bankruptcy or insolvency proceeding which is not dismissed within ninety (90) days of filing (which Borrower has participated in causing to be filed or respecting which Borrower has colluded with a creditor or a principal in Borrower to cause such involuntary proceeding to be filed); provided, however, that this Paragraph 9(c) shall not apply if an involuntary bankruptcy is filed by Lend▇▇.

Full Recourse Liability. Notwithstanding the provisions of Paragraph 8 of this Note, the EXCULPATED PARTIES SHALL HAVE PERSONAL LIABILITY for the Obligations if: (a) there shall be any breach or violation of Article V of the Instrument (the amount of such personal liability under this Paragraph 9(a), however, shall be limited to the actual losses suffered by Lender because of such breach); or (b) there shall be any actual, but not constructive fraud, in connection with the Loan by any of the Exculpated Parties in connection with the Property, the Documents, the Loan application, or any other aspect of the Loan; or (c) the Property shall become an asset in (i) a voluntary bankruptcy or insolvency proceeding or (ii) an involuntary bankruptcy or insolvency proceeding which is not dismissed within ninety (90) days of filing (which Borrower has participated in causing to be filed or respecting which Borrower has colluded with a creditor or a principal in Borrower to cause such involuntary proceeding to be filed); provided, however, that this Paragraph 9(c) shall not apply if an involuntary bankruptcy is filed by Lend▇▇. Prudential Loan No.: 6 102 639 Robe▇▇▇ ▇▇▇idential\promissory note BORR▇▇▇▇'▇ ▇NITIALS: /s/ CSR -------- 433047.2/2555.181 4

Full Recourse Liability. Notwithstanding the provisions of Paragraph 8 of this Note, the EXCULPATED PARTIES SHALL HAVE PERSONAL LIABILITY for the Obligations if: (a) there shall be any breach or violation of Article V of the Instrument (the amount of such personal liability under this Paragraph 9(a), however, shall be limited to the actual losses suffered by Lender because of such breach); or (b) there shall be any actual, but not constructive fraudconstructive, fraud in connection with the Loan by any of the Exculpated Parties in connection with the Property, the Documents, the Loan application, or any other aspect of the Loan; or (c) the Property shall become an asset in (i) a voluntary bankruptcy or insolvency proceeding or (ii) an involuntary bankruptcy or insolvency proceeding which is not dismissed within ninety (90) days of filing (which Borrower has participated in causing to be filed or respecting which Borrower has colluded with a creditor or a principal in Borrower to cause such involuntary proceeding to be filed); provided, however, that this Paragraph 9(c) shall not apply if an involuntary bankruptcy is filed by Lend▇▇.