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Immunity Of Stockholders, Officers, And Directors
IMMUNITY OF STOCKHOLDERS, OFFICERS, AND DIRECTORS
Except as provided in the Guaranty, no recourse shall be had for the payment of the principal of or the interest on this Note, or for any claim based on the Note or otherwise in respect to the Note, against any incorporator, stockholder, officer, or director, as such, past, present, or future, of Company or of any predecessor or successor corporation, either directly or through Company or otherwise, whether by virtue of any constitution, statute, or rule of law, or by the enforcement of any assessment or penalty, or otherwise, all such liability being by the acceptance of this Note and as part of the consideration for the issue of this Note expressly waived and released. However, nothing contained in this Note shall be taken to prevent recourse to and the enforcement of the liability, if any, of any shareholder or any stockholder or subscriber to capital stock on or in respect of shares of capital stock not fully paid up.
This is a UCC form. It is intended
to be an addendum to other forms.