Limitation of Liability; No Personal Liability Sample Clauses

The "Limitation of Liability; No Personal Liability" clause restricts the amount and types of damages that one party can recover from the other under the contract, and also protects individuals from being personally liable for obligations of the company or entity. Typically, this clause sets a cap on monetary damages, excludes certain types of damages like consequential or punitive damages, and clarifies that only the company, not its officers, directors, or employees, can be held responsible for contractual breaches. Its core function is to allocate and limit financial risk between the parties and to shield individuals from personal exposure, thereby providing predictability and encouraging participation in business activities without fear of unlimited personal liability.
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Limitation of Liability; No Personal Liability. In the exercise of the powers of the Authority or the Trustee hereunder or under the Indenture, including without limitation the application of moneys and the investment of funds, neither the Authority or the Trustee nor their members, directors, officers, employees or agents shall be accountable to the Company for any action taken or omitted by any of them in good faith and with the belief that it is authorized or within the discretion or rights or powers conferred. The Authority, the Trustee and their members, directors, officers, employees and agents shall be protected in acting upon any paper or document believed to be genuine, and any of them may conclusively rely upon the advice of counsel and may (but need not) require further evidence of any fact or matter before taking any action. In the event of any default by the Authority hereunder, the liability of the Authority to the Company shall be enforceable only out of the Authority’s interest under this Agreement and there shall be no other recourse for damages by the Company against the Authority, its members, directors, officers, attorneys, agents and employees, or any of the property now or hereafter owned by it or them. All covenants, obligations and agreements of the Authority contained in this Agreement or the Indenture shall be effective to the extent authorized and permitted by applicable law. No such covenant, obligation or agreement shall be deemed to be a covenant, obligation or agreement of any present or future member, director, officer, agent or employee of the Authority, and no official executing the Bonds shall be liable personally on the Bonds or be subject to any personal liability or accountability by reason of the issuance thereof or by reason of the covenants, obligations or agreements of the Authority contained in this Agreement or the Indenture.
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Limitation of Liability; No Personal Liability. EXHIBIT A – Project Description EXHIBIT B – Nondiscrimination/Sexual Harassment Clause This Loan Agreement dated as of October 1, 2008, between the Pennsylvania Economic Development Financing Authority (the "Issuer"), a public instrumentality of the Commonwealth of Pennsylvania (the "Commonwealth") and a public body corporate and politic organized and existing under the Pennsylvania Economic Development Financing Law, as amended (the "Act") of the Commonwealth, and The York Water Company, a Pennsylvania corporation (the "Company"),
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Limitation of Liability; No Personal Liability. EXHIBIT A – Project Description EXHIBIT B – Nondiscrimination/Sexual Harassment Clause EXHIBIT C – Right to Know This Loan Agreement dated as of April 1, 2014, between the Pennsylvania Economic Development Financing Authority (the "Issuer"), a public instrumentality of the Commonwealth of Pennsylvania (the "Commonwealth") and a public body corporate and politic organized and existing under the Pennsylvania Economic Development Financing Law, as amended (the "Act") of the Commonwealth, and The York Water Company, a Pennsylvania corporation (the "Company"),
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Limitation of Liability; No Personal Liability. 32 Section 8.4 Binding Effect................................................................................ 32 Section 8.5 Amendments.................................................................................... 32 Section 8.6 Counterparts.................................................................................. 33 Section 8.7 Severability.................................................................................. 33 Section 8.8 Governing Law................................................................................. 33 Section 8.9 Assignment.................................................................................... 33
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Limitation of Liability; No Personal Liability. 32 Section 8.4 Binding Effect................................................................................ 32 Section 8.5 Amendments.................................................................................... 32 Section 8.6 Counterparts.................................................................................. 33 Section 8.7 Severability.................................................................................. 33 Section 8.8 Governing Law................................................................................. 33 Section 8.9 Assignment.................................................................................... 33
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Related to Limitation of Liability; No Personal Liability

  • Limitation on Personal Liability All parties to this Agreement acknowledge and agree that the Trust is a series trust and all debts, liabilities, obligations and expenses incurred, contracted for or otherwise existing with respect to a particular series shall be enforceable against the assets held with respect to such series only, and not against the assets of the Trust generally or against the assets held with respect to any other series and further that no Trustee, officer or holder of shares of beneficial interest of the Trust shall be personally liable for any of the foregoing.

  • No Personal Liability No officer, agent or employee of the City shall be personally responsible for any liability arising under this Agreement, whether expressed or implied, nor for any statement or representation made or in any connection with this Agreement.

  • Limitation of Liability No provision hereof, in the absence of any affirmative action by the Holder to exercise this Warrant to purchase Warrant Shares, and no enumeration herein of the rights or privileges of the Holder, shall give rise to any liability of the Holder for the purchase price of any Common Stock or as a stockholder of the Company, whether such liability is asserted by the Company or by creditors of the Company.