Non-Recourse as to Landlord Clause Samples
The "Non-Recourse as to Landlord" clause limits the liability of the landlord under a lease or contract, ensuring that claims or enforcement actions by the tenant are restricted to the landlord's interest in the property itself, rather than extending to the landlord's personal assets. In practice, this means that if the landlord defaults or breaches the agreement, the tenant can only seek remedies against the property or its income, not against the landlord's other holdings or personal wealth. This clause primarily serves to protect landlords from personal financial exposure, thereby allocating risk and providing clarity on the extent of recourse available to tenants.
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Non-Recourse as to Landlord. Anything contained herein to the contrary notwithstanding, any claim based on or in respect of any liability of Landlord under this Lease shall be enforced only against the Property and not against any other assets, properties or funds of (a) Landlord, (b) any director, officer, general partner, limited partner, employee or agent of Landlord, or any general partner of Landlord, any of their respective general partners or stockholders (or any legal representative, heir, estate, successor or assign of any thereof), (c) any predecessor or successor partnership or corporation (or other entity) of Landlord, or any of their respective general partners, either directly or through either Landlord or their respective general partners or any predecessor or successor partnership or corporation or their stockholders, officers, directors, employees or agents (or other entity), or (d) any other Person affiliated with any of the foregoing, or any director, officer, employee or agent of any thereof.
Non-Recourse as to Landlord. (a) Anything contained herein to the contrary notwithstanding, any claim based on or in respect of any liability of Landlord under this Lease shall be limited to actual damages and shall be enforced only against the Leased Premises and not against any other assets, properties or funds of (i) Landlord, (ii) any director, officer, member, general partner, shareholder, limited partner, beneficiary, employee or agent of Landlord or any members or general partners of Landlord (or any legal representative, heir, estate, successor or assign of any thereof), (iii) any predecessor or successor partnership or corporation (or other entity) of Landlord or any of its general partners, shareholders, officers, directors, members, employees or agents, either directly or through Landlord or its general partners, shareholders, officers, directors, employees or agents or any predecessor or successor partnership or corporation (or other entity), or (iv) any Person affiliated with any of the foregoing, or any director, officer, employee or agent of any thereof.
(b) Notwithstanding the foregoing, Tenant shall not be precluded from instituting legal proceedings for the purpose of making a claim against Landlord on account of an alleged violation of Landlord’s obligations under this Lease or any tortuous conduct or act of Landlord or any employees or agent of Landlord, subject, however, to Paragraph 30(a) above.
Non-Recourse as to Landlord. Anything contained herein to the contrary notwithstanding, any claim based on or in respect of any liability of Landlord under this Lease shall be limited to actual damages and shall be enforced only against the Leased Premises and not against any other assets, properties or funds of (a) Landlord, (b) any director, member, officer, general partner, limited partner, employee or agent of Landlord (or any legal representative, heir, estate, successor or assign of any thereof), (c) any predecessor or successor partnership, corporation, limited liability company (or other entity) of Landlord, or any of its general partners, members or shareholders, or (d) any other affiliate of Landlord.
Non-Recourse as to Landlord. Anything contained herein to the contrary notwithstanding, any claim based on or in respect of any liability of Landlord under this Lease shall be limited to actual damages and shall be enforced only against the Leased Premises and, from and after the misapplication or misappropriation of any Net Award or Escrow Payments, the rents payable by Tenant and not against any other assets, properties or funds of (a) Landlord, (b) any director, member, officer, general partner, limited partner, employee or agent of Landlord, or any general partner of Landlord, any of its general partners or shareholders (or any legal representative, heir, estate, successor or assign of any thereof), (c) any predecessor or successor partnership or corporation (or other entity) of Landlord, or any of its general partners, either directly or through Landlord or its general partners or any predecessor or successor partnership or corporation or their shareholders, officers, directors, employees or agents (or other entity), or (d) any other Person (including ▇▇▇▇▇ Property Advisors, ▇▇▇▇▇ Fiduciary Advisors, Inc., W. P. ▇▇▇▇▇ & Co., LLC, ▇▇▇▇▇ Management LLC, and any Person affiliated with any of the foregoing, or any director, officer, employee or agent of any thereof).
Non-Recourse as to Landlord. (a) Anything contained herein to the contrary notwithstanding, any claim based on or in respect of any liability of Landlord under this Lease shall be enforced only against the Leased Premises and not against any other assets, properties or funds of (a) Landlord or any party thereof, (b) any director, officer, general partner, shareholder, limited partner, employee or agent of Landlord or any general partner of Landlord, ▇▇▇▇:11 or ▇▇▇▇:12 or any of its general partners (or any legal representative, heir, estate, successor or assign of any thereof), (c) any predecessor or successor partnership or corporation (or other entity) of Landlord or any of its general partners, shareholders, officers, directors, employees or agents, either directly or through Landlord or its general partners, shareholders, officers, directors, employees or agents or any predecessor or successor partnership or corporation (or other entity), or (d) any other Person (including ▇▇▇▇▇ Property Advisors, ▇▇▇▇▇ Fiduciary Advisors, Inc., W. P. ▇▇▇▇▇ & Co. Inc., and any Person affiliated with any of the foregoing, or any director, officer, employee or agent of any thereof); provided, however, that Landlord shall at all times maintain an "EQUITY INTEREST" (as defined below) in the Leased Premises of at least the lesser of (1) twenty percent (20%) of the Fair Market Value of the Leased Premises or (2) Landlord's Cash Contribution ("LANDLORD'S MINIMUM EQUITY"). If Landlord fails to maintain Landlord's Minimum Equity, the provisions of this Paragraph 30 limiting Tenant's right to recover damages from the Leased Premises as provided above shall cease to be of any force or effect and Tenant shall have the right to recover damages from any and all assets of Landlord. The term "EQUITY INTERESTS" shall mean the difference between the Fair Market Value of the Leased Premises and the then outstanding principal amount of all Mortgages placed on the Leased Premises by Landlord. For purposes of this definition of Equity Interest, during the first five (5) years of the Term the Fair Market Value of the Leased Premises shall be equal to the Project Cost. In the event that
Non-Recourse as to Landlord. Anything contained herein to the --------------------------- contrary notwithstanding, any claim based on or in respect of any liability of Landlord under this Lease shall be enforced only against the Leased Premises and not against any other assets, properties or funds of (a) Landlord, (b) any director, officer, general partner, limited partner, employee or agent of Landlord, or any general partner of Landlord, any of its general partners or shareholders (or any legal representative, heir, estate, successor or assign of any thereof), (c) any predecessor or successor partnership or corporation (or other entity) of Landlord, or any of its general partners, either directly or through Landlord or its general partners or any predecessor or successor partnership or corporation or their shareholders, officers, directors, employees or agents (or other entity), or (d) any other Person (including ▇▇▇▇▇ Property Advisors, ▇▇▇▇▇ Fiduciary Advisors, Inc., W.P. ▇▇▇▇▇ & Co., Inc., W.P. ▇▇▇▇▇ Incorporated and any Person affiliated with any of the foregoing, or any director, officer, employee or agent of any thereof). XXXI.
Non-Recourse as to Landlord. Anything contained herein to --------------------------- the contrary notwithstanding, any claim based on or in respect of any liability of Landlord under this Lease shall be enforced only against the Premises and not against any other tangible or intangible assets, properties or funds of (i) Landlord, (ii) any shareholder of Landlord or any director, officer, general partner, limited partner, employee or agent of Landlord, (or any legal representative, heir, estate, successor or assign of any thereof), (iii) any predecessor or successor partnership or corporation (or other entity) of Landlord, or any of its shareholders, either directly or through Landlord or its shareholders or any predecessor or successor partnership or corporation or their shareholders, officers, directors, employees or agents (or other entity), or (iv) any other Affiliate of any of the foregoing, or any director, officer, employee or agent of any thereof; provided, however, that if, as a result of a judicial foreclosure of any Mortgage, the interest of Landlord in any Hotel is transferred to a Mortgagee or any other person or entity and at the date of such foreclosure, Tenant has a legal proceeding against Landlord, which is determined adversely to Landlord after the exhaustion of all appeal periods, Tenant shall have the right to enforce any judgment from any assets or other properties of Landlord but not against any Mortgagee or any other person or any of the parties listed at (ii) through (iv) above.
Non-Recourse as to Landlord. Anything contained herein to the contrary notwithstanding, any claim based on or in respect of any liability of Landlord under this Lease shall be enforced only against the Leased Premises and not against any other assets, properties or funds of (i) Landlord, (ii) any director, officer, general partner, shareholder, limited partner, beneficiary, employee or agent of Landlord or any general partner of Landlord or any of its general partners (or any legal representative, heir, estate, successor or assign of any
Non-Recourse as to Landlord. (a) Anything contained herein to the contrary notwithstanding, any claim based on or in respect of any liability of Landlord under this Lease shall be enforced only against the Leased Premises and not against any other assets, properties or funds of (a) Landlord, (b) any director, officer, general partner, limited partner, employee or agent of Landlord, or any general partner of Landlord, any of its general partners or shareholders (or any legal representative, heir, estate, successor or assign of any thereof), (c) any predecessor or successor partnership or corporation (or other entity) of Landlord, or any of its general partners, either directly or through Landlord or its general partners or any predecessor or successor partnership or corporation or their shareholders, officers, directors, employees or agents (or other entity), or (d) any other Person (including ▇▇▇▇▇ Property Advisors, ▇▇▇▇▇ Fiduciary Advisors, Inc., W.P. ▇▇▇▇▇ & Co., Inc., W.P. ▇▇▇▇▇ Incorporated and any Person affiliated with any of the foregoing, or any director, officer, employee or agent of any thereof).
(b) Notwithstanding the foregoing, Tenant shall not be precluded from instituting legal proceedings for the purpose of making a claim against Landlord on account of an alleged violation of Landlord's obligation under this Lease, subject, however, to Paragraph 30(a) above.
Non-Recourse as to Landlord. (a) Anything contained herein to the contrary notwithstanding, any claim based on or in respect of any liability of Landlord under this Lease shall be limited to actual damages and shall be enforced only against the Leased Premises and not against any other assets, properties or funds of (i) Landlord, (ii) any director, officer, member, general partner, shareholder, limited partner, beneficiary, employee or agent of Landlord or any general partner of Landlord or any of its members or general partners (or any legal representative, heir, estate, successor or assign of any thereof), (iii) any predecessor or successor partnership or corporation (or other entity) of Landlord or any of its general partners, shareholders, officers, directors, members, employees or agents, either directly or through Landlord or its general partners, shareholders, officers, directors, employees or agents or any predecessor or successor partnership or corporation (or other entity), or (iv) any Person affiliated with any of the foregoing, or any director, officer, employee or agent of any thereof.