Common use of No Pecuniary Liability Clause in Contracts

No Pecuniary Liability. The Acts and the Resolution prescribe and the parties intend that by reason of making this Loan Agreement, by reason of the issuance of the Bonds, by reason of the performance of any act required of it by this Loan Agreement, or by reason of the performance of any act requested of it by the Borrower, no indebtedness or charge against the general credit of the Issuer, the Department or the State within the meaning of any constitutional or charter provision or statutory limitation shall occur, nor shall any of the foregoing ever constitute or give rise to any pecuniary liability of the Issuer, the Department or the State. Nevertheless, if the Issuer incurs any such pecuniary liability, then in such event the Borrower shall indemnify and hold the Issuer harmless by reason thereof.

No Pecuniary Liability. The Acts and the Resolution prescribe Act prescribes and the parties intend that by reason of making this Loan Agreement, by reason of the issuance of the Bonds, by reason of the performance of any act required of it by this Loan Agreement, or by reason of the performance of any act requested of it by the Borrower, no indebtedness or charge against the general credit or taxing powers of the IssuerState, the Department or the State Issuer within the meaning of any constitutional or charter provision or statutory limitation shall occur, nor shall any of the foregoing ever constitute or give rise to any pecuniary liability of the IssuerState, the Department or the StateIssuer. Nevertheless, if the Issuer incurs any such pecuniary liability, then in such event the Borrower shall indemnify and hold the Issuer harmless by reason thereof.