Common use of Nonliability of Authority Clause in Contracts

Nonliability of Authority. The Authority shall not be obligated to pay the principal [or purchase price] of, and premium, if any, and interest on the Bonds, except from Revenues and other assets pledged under the Bond Indenture. Neither the faith and credit nor the taxing power of the State of California or any political subdivision thereof is pledged to the payment of the principal [or purchase price] of, premium, if any, or interest on the Bonds. The Authority shall not be liable for any costs, expenses, losses, damages, claims or actions, of any conceivable kind or any conceivable theory, under or by reason of or in connection with this Loan Agreement, [Obligation No. ___,] the Bonds or the Bond Indenture, except only to the extent amounts are received for payment thereof from the Borrower under this Loan Agreement [or from Members under Obligation No. ___

Nonliability of Authority. The Authority shall not be obligated to pay the principal [or purchase price] of, and premium, if any, and interest on the Bonds, except from Revenues and other assets pledged under the Bond Indenture. Neither the faith and credit nor the taxing power of the State of California or any political subdivision thereof is pledged to the payment of the principal [or purchase price] of, premium, if any, or interest on the Bonds. The Authority shall not be liable for any costs, expenses, losses, damages, claims or actions, of any conceivable kind or any conceivable theory, under or by reason of or in connection with this Loan Agreement, [Obligation No. ___,] the Bonds or the Bond Indenture, except only to the extent amounts are received for payment thereof from the Borrower under this Loan Agreement [or from Members under Obligation No. ___the