Incorporators, Shareholders, Officers and Directors of the Company and the Guarantors Exempt from Individual Liability. No director, officer, member, manager, incorporator or shareholder of the Company or any Guarantor, as such, shall have any liability for any obligations of the Company or the Guarantors under the 8.5% Notes, this Indenture, the Subsidiary Guarantees or for any claim based on, or otherwise in respect of, such obligations or their creation. Each Holder by accepting a 8.5% Note waives and releases all such liability. The waiver and release are part of the consideration for the issuance of the 8.5% Notes. (b) Section 4.1 of the Original Indenture is amended with respect to the 8.5% Notes to read as follows:
Appears in 1 contract
Sources: First Supplemental Indenture (Frontier Oil Corp /New/)
Incorporators, Shareholders, Officers and Directors of the Company and the Guarantors Exempt from Individual Liability. No director, officer, member, manager, incorporator or shareholder of the Company or any Guarantor, as such, shall have any liability for any obligations of the Company or the Guarantors under the 8.5% 6 ⅞% Notes, this Indenture, the Subsidiary Guarantees or for any claim based on, or otherwise in respect of, such obligations or their creation. Each Holder by accepting a 8.5% 6 ⅞% Note waives and releases all such liability. The waiver and release are part of the consideration for the issuance of the 8.5% 6 ⅞% Notes.
(b) Section 4.1 of the Original Indenture is amended with respect to the 8.5% 6 ⅞% Notes to read as follows:
Appears in 1 contract
Sources: First Supplemental Indenture (Frontier Oil Corp /New/)