Acknowledgement of Joint and Several Liability. (a) Each Borrower is accepting joint and several liability hereunder and under the other Loan Documents in consideration of the financial accommodations to be provided by the Lender under this Agreement, for the mutual benefit, directly and indirectly, of Borrower and in consideration of the undertakings of each other Borrower to accept joint and several liability for the Obligations.
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Samples: Credit and Security Agreement (Interpace Diagnostics Group, Inc.), Credit and Security Agreement (Hooper Holmes Inc), Credit and Security Agreement (Cca Industries Inc)
Acknowledgement of Joint and Several Liability. (a) Each Borrower is accepting joint and several liability hereunder and under the other Loan Documents in consideration of the financial accommodations to be provided by the Lender under this Agreement, for the mutual benefit, directly and indirectly, of such Borrower and in consideration of the undertakings of each other Borrower to accept joint and several liability for the Obligations.
Appears in 2 contracts
Samples: Credit and Security Agreement (ALKALINE WATER Co INC), Credit and Security Agreement (TRANS LUX Corp)
Acknowledgement of Joint and Several Liability. (a) Each Borrower is accepting joint and several liability hereunder and under the other Loan Documents in consideration of the financial accommodations to be provided by the Lender under this Agreement, for the mutual benefit, directly and indirectly, of Borrower Borrowers and in consideration of the undertakings of each other Borrower to accept joint and several liability for the Obligations.
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