Assumptions Regarding Structure. For the sake of clarity and construction, the parties hereto hereby set forth their acknowledgment and agreement that each Borrower that is a series of a Registrant is not a separately existing legal entity entitled to enter into contractual agreements or to execute instruments and, for these reasons, each such Registrant is executing this Agreement and shall execute any respective Note on behalf of its series, as Borrowers, and that such series will utilize the Loans thus made on their behalf. Any action to be taken by a Borrower may be taken by the related Registrant on its behalf. Notwithstanding anything to the contrary in this Agreement, each Borrower shall be liable hereunder only for the Loans made to such Borrower hereunder and interest thereon and for the fees and expenses associated therewith and as otherwise set forth herein, and in no event shall any Borrower or its assets be held liable for the Loans made to any other Borrower hereunder or interest thereon or for the fees and expenses associated therewith.
Assumptions Regarding Structure. The parties acknowledge and agree that with respect to certain Delaware LLCs, Trusts and Maryland corporations, such Delaware LLCs, Trusts and Maryland corporations are comprised of one or more separate Borrowers and that such Borrowers are not separately existing legal entities entitled to enter into contractual agreements or to execute instruments, and for these reasons, the relevant Delaware LLCs, Trusts or Maryland corporations are executing this Agreement on behalf of their specified respective Borrowers.
Assumptions Regarding Structure. The parties acknowledge and agree that certain of the Funds under this Agreement are comprised of separate Portfolios and that such Portfolios are not separately existing legal entities entitled to enter into contractual agreements or to execute instruments and, for these reasons, the relevant Funds are executing this Agreement and the relevant Notes on behalf of their specified respective Portfolios.
Assumptions Regarding Structure. The parties acknowledge and agree that with respect to any Trusts, such Trusts are comprised of one or more separate Borrowers and that such Borrowers are not separately existing legal entities entitled to enter into contractual agreements or to execute instruments, and for these reasons, the relevant Trusts are executing this Agreement on behalf of their specified respective Borrowers.
Assumptions Regarding Structure. For the sake of clarity and ------------------------------- construction, the parties hereto hereby set forth their acknowledgement and agreement that each Borrower is an investment portfolio of a Fund and is not a separately existing legal entity entitled to enter into contractual agreements or to execute instruments and, for these reasons, any such Fund is executing this Agreement and each respective Note on behalf of its investment portfolios, as Borrowers, and that such investment portfolios, as Borrowers, and that such investment portfolios will utilize the Loans thus made on their behalf. Notwithstanding anything to the contrary in this Agreement, each Borrower shall be liable hereunder only for the Loans made to such Borrower hereunder and interest thereon and for the fees and expenses associated therewith and as otherwise set forth herein, and in no event shall any Borrower or its assets be held liable for the Loans made to any other Borrower hereunder or interest thereon or for the fees and expenses associated therewith.
Assumptions Regarding Structure. For the sake of clarity and ------------------------------- construction, the parties hereto hereby set forth their acknowledgment and agreement that each Borrower is a separate portfolio of the Fund acting on its behalf and as such is not a separately existing legal entity entitled to enter into contractual agreements or to execute instruments and for these reasons, each Fund acting on behalf of a Borrower is executing this Agreement and each respective Note on behalf of its portfolios, as Borrowers, and that such portfolios will utilize the Loans thus made on their behalf. No Fund shall make any designation, provide any notice or take any other action on behalf of any Borrower that is not an investment portfolio of such Fund.
Assumptions Regarding Structure. For the sake of clarity and construction, the parties hereto hereby set forth their acknowledgment and agreement that: (a) some of the Borrowers under this Agreement are separate Portfolios of a Fund, and as such are not separately existing legal entities entitled to enter into contractual agreements or to execute instruments and for these reasons, each such Fund is executing this Agreement and each of the other Credit Documents on behalf of its Portfolios, as Borrowers, (b) the obligations of each Borrower hereunder are several and not joint, and (c) the assets of any Borrower hereunder shall not be used to discharge the obligations of any other Borrower under this Agreement.
Assumptions Regarding Structure. For the sake of clarity and construction, the parties hereto hereby set forth their acknowledgment and agreement that the Borrower is a series of the Fund and is not a separately existing legal entity entitled to enter into contractual agreements or to execute instruments and, for these reasons, the Fund is executing this Agreement and the other Loan Documents on behalf of the Borrower, and that the Borrower will utilize the Loans made hereunder. Any action to be taken by the Borrower may be taken by the Fund on its behalf. To the extent a reference to the Borrower in any provision of this Agreement requires reference to a distinct legal entity, such provision shall be deemed to be a reference to the Fund.
Assumptions Regarding Structure. (a) For the sake of construction, if any Assignor or Assignee constitutes a series or portfolio of an investment company registered under the Investment Company Act of 1940 (as amended), it is understood and agreed that such investment company acting on behalf of such series or portfolio (as applicable) shall constitute the relevant Assignor or Assignee (as applicable) hereunder and all references to such Assignor or Assignee (as applicable) in this Agreement shall be deemed to mean such investment company acting on behalf of such series or portfolio (as applicable). No other separate series or portfolio (as applicable) of the investment company shall have any liability for the obligations of such series or portfolio (as applicable).
(b) It is further acknowledged and agreed that the obligations of each Assignor and Assignee listed on Annex I hereto are several and not joint, and that this Agreement has been executed as a single agreement as a matter of convenience but shall be construed as separate and distinct agreements among each entity designated as an “Assignor” on Annex I, each entity designated as the “Assignee” to such Assignor on Annex I and Custodian. Upon the effectiveness of the assignment and assumption contemplated herein, the Assigned Agreement shall constitute a separate and distinct agreement between each entity designated as an “Assignee” on Annex I and Custodian. In no event will any entity listed on Annex I hereto have any liability for the obligations of any other entity so listed on Annex I, except that as of the applicable Transfer Date each entity designated as an “Assignee” on Annex I will assume the obligations of the entity designated as its applicable “Assignor” on Annex I as specified herein.
Assumptions Regarding Structure. The parties acknowledge and agree that the Funds are not separately existing legal entities entitled to enter into contractual agreements or to execute instruments, and for these reasons, the Company is executing this Agreement and the relevant Notes on behalf of the Funds.
