Common use of Borrower Liability Clause in Contracts

Borrower Liability. Each Borrower may, acting singly, request credit extensions hereunder. Each Borrower hereby appoints the other as agent for the other for all purposes hereunder, including with respect to requesting credit extensions hereunder. Each Borrower hereunder shall be jointly and severally obligated to repay all credit extensions made hereunder, regardless of which Bxxxxxxx actually receives said credit extension, as if each Borrower hereunder directly received all credit extensions. Each Borrower waives (a) any suretyship defenses available to it under the Code or any other applicable law, and (b) any right to require Collateral Agent or any Lender to: (i) proceed against any Borrower or any other person; (ii) proceed against or exhaust any security; or (iii) pursue any other remedy. Collateral Agent and/or any Lender may exercise or not exercise any right or remedy it has against any Borrower or any security it holds (including the right to foreclose by judicial or non-judicial sale) without affecting any Borrower’s liability. Notwithstanding any other provision of this Agreement or other related document, each Borrower irrevocably waives all rights that it may have at law or in equity (including, without limitation, any law subrogating Borrower to the rights of Collateral Agent and the Lenders under this Agreement) to seek contribution, indemnification or any other form of reimbursement from any other Borrower, or any other Person now or hereafter primarily or secondarily liable for any of the Obligations, for any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise and all rights that it might have to benefit from, or to participate in, any security for the Obligations as a result of any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise. Any agreement providing for indemnification, reimbursement or any other arrangement prohibited under this Section 12.10 shall be null and void. If any payment is made to a Borrower in contravention of this Section 12.10, such Borrower shall hold such payment in trust for Collateral Agent and the Lenders and such payment shall be promptly delivered to Collateral Agent for application to the Obligations, whether matured or unmatured.

Appears in 16 contracts

Samples: Subordinated Business Loan and Security Agreement (Blue Star Foods Corp.), Business Loan and Security Agreement (Laser Photonics Corp), Subordinated Business Loan and Security Agreement (Blue Star Foods Corp.)

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Borrower Liability. Each Either Borrower may, acting singly, request credit extensions Credit Extensions hereunder. Each Borrower hereby appoints the other as agent for the other for all purposes hereunder, including with respect to requesting credit extensions Credit Extensions hereunder. Each Borrower hereunder shall be jointly and severally obligated to repay all credit extensions Credit Extensions made hereunder, regardless of which Bxxxxxxx Borrower actually receives said credit extensionCredit Extension, as if each Borrower hereunder directly received all credit extensionsCredit Extensions. Each Borrower waives (a) any suretyship defenses available to it under the Code or any other applicable law, including, without limitation, the benefit of California Civil Code Section 2815 permitting revocation as to future transactions and the benefit of California Civil Code Sections 1432, 2809, 2810, 2819, 2839, 2845, 2847, 2848, 2849, 2850, and 2899 and 3433, and (b) any right to require Collateral Agent or any Lender to: (i) proceed against any Borrower or any other person; (ii) proceed against or exhaust any security; or (iii) pursue any other remedy. Collateral Agent and/or and or any Lender may exercise or not exercise any right or remedy it has against any Borrower or any security it holds (including the right to foreclose by judicial or non-judicial sale) without affecting any Borrower’s liability. Notwithstanding any other provision of this Agreement or other related document, each Borrower irrevocably waives all rights that it may have at law or in equity (including, without limitation, any law subrogating Borrower to the rights of Collateral Agent and the Lenders under this Agreement) to seek contribution, indemnification or any other form of reimbursement from any other Borrower, or any other Person now or hereafter primarily or secondarily liable for any of the Obligations, for any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise and all rights that it might have to benefit from, or to participate in, any security for the Obligations as a result of any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise. Any agreement providing for indemnification, reimbursement or any other arrangement prohibited under this Section 12.10 shall be null and void. If any payment is made to a Borrower in contravention of this Section 12.10Section, such Borrower shall hold such payment in trust for Collateral Agent and the Lenders and such payment shall be promptly delivered to Collateral Agent for application to the Obligations, whether matured or unmatured.

Appears in 13 contracts

Samples: Loan and Security Agreement (Prometheus Biosciences, Inc.), Loan and Security Agreement (Prometheus Biosciences, Inc.), Loan and Security Agreement (Prometheus Biosciences, Inc.)

Borrower Liability. Each Any Borrower may, acting singly, request credit extensions Credit Extensions hereunder. Each Borrower hereby appoints the each other as agent for the other for all purposes hereunder, including with respect to requesting credit extensions Credit Extensions hereunder. Each Borrower hereunder shall be jointly and severally obligated to repay all credit extensions Credit Extensions made hereunder, regardless of which Bxxxxxxx Borrower actually receives said credit extensionCredit Extension, as if each Borrower hereunder directly received all credit extensionsCredit Extensions. Each Borrower waives (a) any suretyship defenses available to it under the Code or any other applicable law, including, without limitation, the benefit of California Civil Code Section 2815 permitting revocation as to future transactions and the benefit of California Civil Code Sections 1432, 2809, 2810, 2819, 2839, 2845, 2847, 2848, 2849, 2850, and 2899 and 3433, and (b) any right to require Collateral Agent or any Lender Bank to: (i) proceed against any Borrower or any other person; (ii) proceed against or exhaust any security; or (iii) pursue any other remedy. Collateral Agent and/or any Lender Bank may exercise or not exercise any right or remedy it has against any Borrower or any security it holds (including the right to foreclose by judicial or non-judicial sale) without affecting any Borrower’s liability. Notwithstanding any other provision of this Agreement or other related document, each Borrower irrevocably waives all rights that it may have at law or in equity (including, without limitation, any law subrogating Borrower to the rights of Collateral Agent and the Lenders Bank under this Agreement) to seek contribution, indemnification or any other form of reimbursement from any other Borrower, or any other Person now or hereafter primarily or secondarily liable for any of the Obligations, for any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise and all rights that it might have to benefit from, or to participate in, any security for the Obligations as a result of any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise. Any agreement providing for indemnification, reimbursement or any other arrangement prohibited under this Section 12.10 9.8 shall be null and void. If any payment is made to a Borrower in contravention of this Section 12.109.8, such Borrower shall hold such payment in trust for Collateral Agent and the Lenders Bank and such payment shall be promptly delivered to Collateral Agent Bank for application to the Obligations, whether matured or unmatured.

Appears in 13 contracts

Samples: Loan and Security Agreement (Flux Power Holdings, Inc.), Loan and Security Agreement (BigCommerce Holdings, Inc.), Contingent Convertible Debt Agreement (BigCommerce Holdings, Inc.)

Borrower Liability. Each Borrower may, acting singly, request credit extensions hereunder. Each Borrower hereby appoints the other as agent for the other for all purposes hereunder, including with respect to requesting credit extensions hereunder. Each Borrower hereunder shall be jointly and severally obligated to repay all credit extensions made Secured Obligations hereunder, regardless of which Bxxxxxxx actually receives said credit extension, as if each . Borrower hereunder directly received all credit extensions. Each Borrower waives waives (a) any suretyship defenses available to it under the Code or any other applicable law, and (b) any right to require Collateral Agent or any Lender to: (i) proceed against any Borrower or any other person; (ii) proceed against or exhaust any security; or (iii) pursue any other remedy. Collateral Agent and/or any Lender may exercise or not exercise any right or remedy it has against any Borrower or any security it holds (including the right to foreclose by judicial or non-judicial sale) without affecting any Borrower’s liability. Notwithstanding any other provision of this Agreement or other related document, each Borrower irrevocably waives all rights that it may have at law or in equity (including, without limitation, any law subrogating Borrower to the rights of Collateral Agent and the Lenders under this Agreement) to seek contribution, indemnification or any other form of reimbursement from any other Borrower, or any other Person now or hereafter primarily or secondarily liable for any of the Secured Obligations, for any payment made by Borrower with respect to the Secured Obligations in connection with this Agreement or otherwise and all rights that it might have to benefit from, or to participate in, any security for the Obligations as a result of any payment made by Borrower with respect to the Secured Obligations in connection with this Agreement or otherwise. Any agreement providing for indemnification, reimbursement or any other arrangement prohibited under this Section 12.10 shall be null and void. If any payment is made to a Borrower in contravention of this Section 12.10Section, such Borrower shall hold such payment in trust for Collateral Agent and the Lenders and such payment shall be promptly delivered to Collateral Agent Lenders, for application to the Obligations, whether matured or unmatured.

Appears in 10 contracts

Samples: Loan and Security Agreement (Eightco Holdings Inc.), Loan and Security Agreement (Eightco Holdings Inc.), Loan and Security Agreement (Eightco Holdings Inc.)

Borrower Liability. Each Any Borrower may, acting singly, request credit extensions Credit Extensions hereunder. Each Borrower hereby appoints the each other as agent for the other for all purposes hereunder, including with respect to requesting credit extensions Credit Extensions hereunder. Each Borrower hereunder shall be jointly and severally obligated to repay all credit extensions Credit Extensions made hereunder, regardless of which Bxxxxxxx Borrower actually receives said credit extensionCredit Extension, as if each Borrower hereunder directly received all credit extensionsCredit Extensions. Each Borrower waives (a) any suretyship defenses available to it under the Code or any other applicable law, and (b) any right to require Collateral Agent or any Lender Bank to: (i) proceed against any Borrower or any other person; (ii) proceed against or exhaust any security; or (iii) pursue any other remedy. Collateral Agent and/or any Lender Bank may exercise or not exercise any right or remedy it has against any Borrower or any security it holds (including the right to foreclose by judicial or non-judicial sale) without affecting any Borrower’s liability. Notwithstanding any other provision of this Agreement or other related document, each Borrower irrevocably waives all rights that it may have at law or in equity (including, without limitation, any law subrogating Borrower to the rights of Collateral Agent and the Lenders Bank under this Agreement) to seek contribution, indemnification or any other form of reimbursement from any other Borrower, or any other Person now or hereafter primarily or secondarily liable for any of the Obligations, for any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise and all rights that it might have to benefit from, or to participate in, any security for the Obligations as a result of any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise. Any agreement providing for indemnification, reimbursement or any other arrangement prohibited under this Section 12.10 9.8 shall be null and void. If any payment is made to a Borrower in contravention of this Section 12.109.8, such Borrower shall hold such payment in trust for Collateral Agent and the Lenders Bank and such payment shall be promptly delivered to Collateral Agent Bank for application to the Obligations, whether matured or unmatured.

Appears in 7 contracts

Samples: Loan and Security Agreement (Moneylion Inc.), Loan and Security Agreement (Fusion Acquisition Corp.), Loan and Security Agreement (Liquidia Corp)

Borrower Liability. Each Borrower mayIf any Person is joined to this Agreement as a Borrower, acting singly, request credit extensions hereunder. Each Borrower hereby appoints the other as agent for the other for all purposes hereunder, including with respect to requesting credit extensions hereunder. following provisions shall apply: Each Borrower hereunder shall be jointly and severally obligated to repay all credit extensions Loans made hereunder, regardless of which Bxxxxxxx Borrower actually receives said credit extensionLoan, as if each Borrower hereunder directly received all credit extensionsLoans. Each Borrower waives (a) any suretyship defenses available to it under the Code or any other applicable law, and (b) any right to require Collateral Agent or any Lender Trustee to: (i) proceed against any Borrower or any other person; (ii) proceed against or exhaust any security; or (iii) pursue any other remedy. Collateral Agent and/or any Lender Trustee may exercise or not exercise any right or remedy it has against any Borrower or any security it holds (including the right to foreclose by judicial or non-judicial sale) without affecting any Borrower’s liability. Notwithstanding any other provision of this Agreement or other related document, each Borrower irrevocably waives all rights that it may have at law or in equity (including, without limitation, any law subrogating Borrower to the rights of Collateral Agent and the Lenders Trustee under this Agreement) to seek contribution, indemnification or any other form of reimbursement from any other Borrower, or any other Person now or hereafter primarily or secondarily liable for any of the Obligations, for any payment made by such Borrower with respect to the Obligations in connection with this Agreement or otherwise and all rights that it might have to benefit from, or to participate in, any security for the Obligations as a result of any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise. Any agreement providing for indemnification, reimbursement or any other arrangement prohibited under this Section 12.10 shall be null and void. If any payment is made to a Borrower in contravention of this Section 12.10Section, such Borrower shall hold such payment in trust for Collateral Agent and the Lenders and such payment shall be promptly delivered to Collateral Agent Trustee, for the ratable benefit of Lenders, for application to the Obligations, whether matured or unmatured.

Appears in 7 contracts

Samples: Loan and Security Agreement (Metacrine, Inc.), Loan and Security Agreement (Surface Oncology, Inc.), Loan and Security Agreement (Metacrine, Inc.)

Borrower Liability. Each Either Borrower may, acting singly, request credit extensions Credit Extensions hereunder. Each Borrower hereby appoints the other as agent for the other for all purposes hereunder, including with respect to requesting credit extensions Credit Extensions hereunder. Each Borrower hereunder shall be jointly and severally obligated to repay all credit extensions Credit Extensions made hereunder, regardless of which Bxxxxxxx Borrower actually receives said credit extensionCredit Extension, as if each Borrower hereunder directly received all credit extensionsCredit Extensions. Each Borrower waives (a) any suretyship defenses available to it under the Code or any other applicable law, and (b) any right to require Collateral Agent or any Lender to: (i) proceed against any Borrower or any other person; (ii) proceed against or exhaust any security; or (iii) pursue any other remedy. Collateral Agent and/or and or any Lender may exercise or not exercise any right or remedy it has against any Borrower or any security it holds (including the right to foreclose by judicial or non-judicial sale) without affecting any Borrower’s liability. Notwithstanding any other provision of this Agreement or other related document, each Borrower irrevocably waives all rights that it may have at law or in equity (including, without limitation, any law subrogating Borrower to the rights of Collateral Agent and the Lenders under this Agreement) to seek contribution, indemnification or any other form of reimbursement from any other Borrower, or any other Person now or hereafter primarily or secondarily liable for any of the Obligations, for any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise and all rights that it might have to benefit from, or to participate in, any security for the Obligations as a result of any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise. Any agreement providing for indemnification, reimbursement or any other arrangement prohibited under this Section 12.10 shall be null and void. If any payment is made to a Borrower in contravention of this Section 12.10Section, such Borrower shall hold such payment in trust for Collateral Agent and the Lenders and such payment shall be promptly delivered to Collateral Agent for application to the Obligations, whether matured or unmatured.

Appears in 6 contracts

Samples: Loan and Security Agreement (Verona Pharma PLC), Loan and Security Agreement (MDxHealth SA), Loan and Security Agreement (LogicBio Therapeutics, Inc.)

Borrower Liability. Each If there is more than one entity comprising Borrower, then (a) any Borrower may, acting singly, request credit extensions Credit Extensions hereunder. Each , (b) each Borrower hereby appoints the other as agent for the other for all purposes hereunder, including with respect to requesting credit extensions Credit Extensions hereunder. Each , (c) each Borrower hereunder shall be jointly and severally obligated to pay and perform all obligations under the Financing Documents, including, but not limited to, the obligation to repay all credit extensions Credit Extensions made hereunderhereunder and all other Obligations, regardless of which Bxxxxxxx Borrower actually receives said credit extensionCredit Extensions, as if each Borrower hereunder directly received all credit extensions. Each Credit Extensions, and (d) each Borrower waives waives (ai) any suretyship defenses available to it under the Code or any other applicable law, and (bii) any right to require Collateral the Lenders or Agent or any Lender to: (iA) proceed against any Borrower or any other person; (iiB) proceed against or exhaust any security; or (iiiC) pursue any other remedy. Collateral The Lenders or Agent and/or any Lender may exercise or not exercise any right or remedy it has they have against any Borrower Credit Party or any security it holds (including the right to foreclose by judicial or non-judicial sale) without affecting any Borrowerother Credit Party’s liabilityliability or any Lien against any other Credit Party’s assets. Notwithstanding any other provision of this Agreement or other related document, until payment in full of the Obligations and termination of the Applicable Commitments, each Borrower irrevocably waives all rights that it may have at law or in equity (including, without limitation, any law subrogating Borrower to the rights of Collateral Agent and the Lenders and Agent under this Agreement) to seek contribution, indemnification or any other form of reimbursement from any other BorrowerCredit Party, or any other Person now or hereafter primarily or secondarily liable for any of the Obligations, for any payment made by Borrower any Credit Party with respect to the Obligations in connection with this Agreement or otherwise and all rights that it might have to benefit from, or to participate in, any security for the Obligations as a result of any payment made by Borrower a Credit Party with respect to the Obligations in connection with this Agreement or otherwise. Any agreement providing for indemnification, reimbursement or any other arrangement prohibited under this Section 12.10 13.15 shall be null and void. If any payment is made to a Borrower Credit Party in contravention of this Section 12.1013.15, such Borrower Credit Party shall hold such payment in trust for Collateral Agent and the Lenders and Agent and such payment shall be promptly delivered to Collateral Agent for application to the Obligations, whether matured or unmatured.

Appears in 5 contracts

Samples: Credit and Security Agreement (Ocular Therapeutix, Inc), Credit and Security Agreement (ZS Pharma, Inc.), Credit and Security Agreement (Ocular Therapeutix, Inc)

Borrower Liability. Each Either Borrower may, acting singly, request credit extensions Credit Extensions hereunder. Each Borrower hereby appoints the other as agent for the other for all purposes hereunder, including with respect to requesting credit extensions Credit Extensions hereunder. Each Borrower hereunder shall be jointly and severally obligated to repay all credit extensions Credit Extensions made hereunder, regardless of which Bxxxxxxx Borrower actually receives said credit extensionCredit Extension, as if each Borrower hereunder directly received all credit extensionsCredit Extensions. Each Borrower waives (a) any suretyship defenses available to it under the Code or any other applicable law, including, without limitation, the benefit of California Civil Code Section 2815 permitting revocation as to future transactions and the benefit of California Civil Code Sections 1432, 2809, 2810, 2819, 2839, 2845, 2847, 2848, 2849, 2850, and 2899 and 3433, and (b) any right to require Collateral Agent or any Lender Bank to: (i) proceed against any Borrower or any other person; (ii) proceed against or exhaust any security; or (iii) pursue any other remedy. Collateral Agent and/or any Lender Bank may exercise or not exercise any right or remedy it has against any Borrower or any security it holds (including the right to foreclose by judicial or non-judicial sale) without affecting any Borrower’s liability. Notwithstanding any other provision of this Agreement or other related document, each Borrower irrevocably waives all rights that it may have at law or in equity (including, without limitation, any law subrogating Borrower to the rights of Collateral Agent and the Lenders Bank under this Agreement) to seek contribution, indemnification or any other form of reimbursement from any other Borrower, or any other Person now or hereafter primarily or secondarily liable for any of the Obligations, for any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise and all rights that it might have to benefit from, or to participate in, any security for the Obligations as a result of any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise. Any agreement providing for indemnification, reimbursement or any other arrangement prohibited under this Section 12.10 shall be null and void. If any payment is made to a Borrower in contravention of this Section 12.10Section, such Borrower shall hold such payment in trust for Collateral Agent and the Lenders Bank and such payment shall be promptly delivered to Collateral Agent Bank for application to the Obligations, whether matured or unmatured.

Appears in 5 contracts

Samples: Loan and Security Agreement (Cytosorbents Corp), Loan and Security Agreement (Cytosorbents Corp), Mezzanine Loan and Security Agreement (Xactly Corp)

Borrower Liability. Each Borrower mayIf any Person is joined to this Agreement as a Borrower, acting singly, request credit extensions hereunder. Each Borrower hereby appoints the other as agent for the other for all purposes hereunder, including with respect to requesting credit extensions hereunder. following provisions shall apply: Each Borrower hereunder shall be jointly and severally obligated to repay all credit extensions Loans made hereunder, regardless of which Bxxxxxxx Borrower actually receives said credit extensionLoan, as if each Borrower hereunder directly received all credit extensionsLoans. Each Borrower waives (a) any suretyship defenses available to it under the Code or any other applicable law, and (b) any right to require Collateral Agent or any Lender Trustee to: (i) proceed against any Borrower or any other person; (ii) proceed against or exhaust any security; or (iii) pursue any other remedy. Collateral Agent and/or any Lender Trustee may exercise or not exercise any right or remedy it has against any Borrower or any security it holds (including the right to foreclose by judicial or non-judicial sale) without affecting any Borrower’s liability. Notwithstanding any other provision of this Agreement or other related document, each Borrower irrevocably waives all rights that it may have at law or in equity (including, without limitation, any law subrogating Borrower to the rights of Collateral Agent and the Lenders Trustee under this Agreement) to seek contribution, indemnification or any other form of reimbursement from any other Borrower, or any other Person now or hereafter primarily or secondarily liable for any of the Obligations, for any payment made by such Borrower with respect to the Obligations in connection with this Agreement or otherwise and all rights that it might have to benefit from, or to participate in, any security for the Obligations as a result of any payment made by a Borrower with respect to the Obligations in connection with this Agreement or otherwise. Any agreement providing for indemnification, reimbursement or any other arrangement prohibited under this Section 12.10 shall be null and void. If any payment is made to a Borrower in contravention of this Section 12.10Section, such Borrower shall hold such payment in trust for Collateral Agent and the Lenders and such payment shall be promptly delivered to Collateral Agent Trustee, for the ratable benefit of Lenders, for application to the Obligations, whether matured or unmatured.

Appears in 5 contracts

Samples: Loan and Security Agreement (Oncorus, Inc.), Loan and Security Agreement (Aptinyx Inc.), Loan, Guaranty, and Security Agreement (ASLAN Pharmaceuticals LTD)

Borrower Liability. Each Any Borrower may, acting singly, request credit extensions Advances hereunder. Each Borrower hereby appoints the other as agent for the other for all purposes hereunder, including with respect to requesting credit extensions Advances hereunder. Each Borrower hereunder shall be jointly and severally obligated to repay all credit extensions Advances made hereunder, regardless of which Bxxxxxxx Borrower actually receives said credit extensionAdvance, as if each Borrower hereunder directly received all credit extensionsAdvances. Each Borrower waives waives (a) any suretyship defenses available to it under the Code or any other applicable law, and (b) any right to require Collateral Agent or any Lender Bank to: (i) proceed against any Borrower or any other person; (ii) proceed against or exhaust any security; or (iii) pursue any other remedy. Collateral Agent and/or any Lender Bank may exercise or not exercise any right or remedy it has against any Borrower or any security it holds (including the right to foreclose by judicial or non-judicial sale) without affecting any Borrower’s liability. Notwithstanding any other provision of this Agreement or other related document, each Borrower irrevocably waives all rights that it may have at law or in equity (including, without limitation, any law subrogating Borrower to the rights of Collateral Agent and the Lenders Bank under this Agreement) to seek contribution, indemnification or any other form of reimbursement from any other Borrower, or any other Person now or hereafter primarily or secondarily liable for any of the Obligations, for any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise and all rights that it might have to benefit from, or to participate in, any security for the Obligations as a result of any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise. Any agreement providing for indemnification, reimbursement or any other arrangement prohibited under this Section 12.10 shall be null and void. If any payment is made to a Borrower in contravention of this Section 12.10Section, such Borrower shall hold such payment in trust for Collateral Agent and the Lenders Bank and such payment shall be promptly delivered to Collateral Agent Bank for application to the Obligations, whether matured or unmatured.

Appears in 5 contracts

Samples: Loan and Security Agreement (ECPM Holdings, LLC), Loan and Security Agreement (ECPM Holdings, LLC), Loan and Security Agreement (Astea International Inc)

Borrower Liability. Each Either Borrower may, acting singly, request credit extensions Credit Extensions hereunder. Each Borrower hereby appoints the other as agent for the other for all purposes hereunder, including with respect to requesting credit extensions Credit Extensions hereunder. Each Borrower hereunder shall be jointly and severally obligated to repay all credit extensions Credit Extensions made hereunder, regardless of which Bxxxxxxx Borrower actually receives said credit extensionCredit Extension, as if each Borrower hereunder directly received all credit extensionsCredit Extensions. Each Borrower waives (a) any suretyship defenses available to it under the Code or any other applicable law, and (b) any right to require Collateral Agent or any Lender Bank to: (i) proceed against any Borrower or any other person; (ii) proceed against or exhaust any security; or (iii) pursue any other remedy. Collateral Agent and/or any Lender Bank may exercise or not exercise any right or remedy it has against any Borrower or any security it holds (including the right to foreclose by judicial or non-judicial sale) without affecting any Borrower’s liability. Notwithstanding any other provision of this Agreement or other related document, each Borrower irrevocably waives all rights that it may have at law or in equity (including, without limitation, any law subrogating Borrower to the rights of Collateral Agent and the Lenders Bank under this Agreement) to seek contribution, indemnification or any other form of reimbursement from any other Borrower, or any other Person now or hereafter primarily or secondarily liable for any of the Obligations, for any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise and all rights that it might have to benefit from, or to participate in, any security for the Obligations as a result of any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise. Any agreement providing for indemnification, reimbursement or any other arrangement prohibited under this Section 12.10 shall be null and void. If any payment is made to a Borrower in contravention of this Section 12.10Section, such Borrower shall hold such payment in trust for Collateral Agent and the Lenders Bank and such payment shall be promptly delivered to Collateral Agent Bank for application to the Obligations, whether matured or unmatured.

Appears in 5 contracts

Samples: Loan and Security Agreement, Loan and Security Agreement (Sonic Foundry Inc), Loan and Security Agreement (Axcelis Technologies Inc)

Borrower Liability. Each Any Borrower may, acting singly, request credit extensions Credit Extensions hereunder. Each Borrower hereby appoints the other as agent for the other for all purposes hereunder, including with respect to requesting credit extensions Credit Extensions hereunder. Each Borrower hereunder shall be jointly and severally obligated to repay all credit extensions Credit Extensions made hereunder, regardless of which Bxxxxxxx Borrower actually receives said credit extensionCredit Extension, as if each Borrower hereunder directly received all credit extensionsCredit Extensions. Each Borrower waives (a) any suretyship defenses available to it under the Code or any other applicable law, and (b) any right to require Collateral Agent or any Lender Bank to: (i) proceed against any Borrower or any other person; (ii) proceed against or exhaust any security; or (iii) pursue any other remedy. Collateral Agent and/or any Lender Bank may exercise or not exercise any right or remedy it has against any Borrower or any security it holds (including the right to foreclose by judicial or non-judicial sale) without affecting any Borrower’s liability. Notwithstanding any other provision of this Agreement or other related document, so long as any Obligation remains outstanding, each Borrower irrevocably waives subordinates in priority and payment to the indefeasible repayment in full in cash of the Obligations all rights that it may have at law or in equity (including, without limitation, any law subrogating Borrower to the rights of Collateral Agent and the Lenders Bank under this Agreement) to seek contribution, indemnification or any other form of reimbursement from any other Borrower, or any other Person now or hereafter primarily or secondarily liable for any of the Obligations, for any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise and all rights that it might have to benefit from, or to participate in, any security for the Obligations as a result of any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise. Any agreement providing for indemnification, reimbursement or any other arrangement prohibited under this Section 12.10 shall be null and void. If any payment is made to a Borrower in contravention of this Section 12.10Section, such Borrower shall hold such payment in trust for Collateral Agent and the Lenders Bank and such payment shall be promptly delivered to Collateral Agent Bank for application to the Obligations, whether matured or unmatured.

Appears in 5 contracts

Samples: Loan and Security Agreement (Mavenir Systems Inc), Subordinated Loan and Security Agreement (Mavenir Systems Inc), Senior Loan and Security Agreement (Mavenir Systems Inc)

Borrower Liability. Each Either Borrower may, acting singly, request credit extensions Advances hereunder. Each Borrower hereby appoints the other as agent for the other for all purposes hereunder, including with respect to requesting credit extensions Advances hereunder. Each Borrower hereunder shall be jointly and severally obligated to repay all credit extensions Advances made hereunder, regardless of which Bxxxxxxx Borrower actually receives said credit extensionAdvance, as if each Borrower hereunder directly received all credit extensionsAdvances. Each Borrower waives waives (a) any suretyship defenses available to it under the Code or any other applicable law, and (b) any right to require Collateral Agent or any Lender Bank to: (i) proceed against any Borrower or any other person; (ii) proceed against or exhaust any security; or (iii) pursue any other remedy. Collateral Agent and/or any Lender Bank may exercise or not exercise any right or remedy it has against any Borrower or any security it holds (including the right to foreclose by judicial or non-judicial sale) without affecting any Borrower’s liability. Notwithstanding any other provision of this Agreement or other related document, each Borrower irrevocably waives all rights that it may have at law or in equity (including, without limitation, any law subrogating Borrower to the rights of Collateral Agent and the Lenders Bank under this Agreement) to seek contribution, indemnification or any other form of reimbursement from any other Borrower, or any other Person now or hereafter primarily or secondarily liable for any of the Obligations, for any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise and all rights that it might have to benefit from, or to participate in, any security for the Obligations as a result of any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise. Any agreement providing for indemnification, reimbursement or any other arrangement prohibited under this Section 12.10 shall be null and void. If any payment is made to a Borrower in contravention of this Section 12.10Section, such Borrower shall hold such payment in trust for Collateral Agent and the Lenders Bank and such payment shall be promptly delivered to Collateral Agent Bank for application to the Obligations, whether matured or unmatured.

Appears in 5 contracts

Samples: Loan and Security Agreement (DiCE MOLECULES HOLDINGS, LLC), Loan and Security Agreement (RMG Networks Holding Corp), Loan and Security Agreement (Workiva LLC)

Borrower Liability. Each Any Borrower may, acting singly, request credit extensions Credit Extensions hereunder. Each Borrower hereby appoints the each other as agent for the other for all purposes hereunder, including with respect to requesting credit extensions Credit Extensions hereunder. Each Borrower hereunder shall be jointly liable for the Credit Extensions and severally obligated to repay all credit extensions made hereunder, regardless of which Bxxxxxxx actually receives said credit extension, Obligations as if each Borrower hereunder directly received all credit extensionsset forth on Schedule I hereto. Each Borrower waives waives (a) any suretyship defenses available to it under the Code or any other applicable lawApplicable Law, including, without limitation, the benefit of California Civil Code Section 2815 permitting revocation as to future transactions and the benefit of California Civil Code Sections 1432, 2809, 2810, 2819, 2839, 2845, 2847, 2848, 2849, 2850, and 2899 and 3433, and (b) any right to require Collateral Agent or any Lender Bank to: (i) proceed against any Borrower or any other person; (ii) proceed against or exhaust any security; or (iii) pursue any other remedy. Collateral Agent and/or any Lender Bank may exercise or not exercise any right or remedy it has against any Borrower or any security it holds (including the right to foreclose by judicial or non-judicial sale) without affecting any Borrower’s liability. Notwithstanding any other provision of this Agreement or other related document, each Borrower irrevocably waives all rights that it may have at law or in equity (including, without limitation, any law subrogating Borrower to the rights of Collateral Agent and the Lenders Bank under this Agreement) to seek contribution, indemnification or any other form of reimbursement from any other Borrower, or any other Person now or hereafter primarily or secondarily liable for any of the Obligations, for any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise and all rights that it might have to benefit from, or to participate in, any security for the Obligations as a result of any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise. Any agreement providing for indemnification, reimbursement or any other arrangement prohibited under this Section 12.10 8.8 shall be null and void. If any payment is made to a Borrower in contravention of this Section 12.108.8, such Borrower shall hold such payment in trust for Collateral Agent and the Lenders Bank and such payment shall be promptly delivered to Collateral Agent Bank for application to the Obligations, whether matured or unmatured.

Appears in 5 contracts

Samples: Loan and Security Agreement (Castle Biosciences Inc), Loan and Security Agreement (Direct Digital Holdings, Inc.), Loan and Security Agreement (Owlet, Inc.)

Borrower Liability. Each Borrower may, acting singly, request credit extensions hereunder. Each Borrower hereby appoints the other as agent for the other for all purposes hereunder, including with respect to requesting credit extensions hereunder. Each Borrower hereunder shall be jointly and severally obligated to repay all credit extensions Singapore Advances made hereunder, regardless of which Bxxxxxxx Borrower actually receives said credit extensionAdvance, as if each Borrower hereunder directly received all credit extensionsSingapore Advances. Each US Borrower hereunder shall be jointly and severally obligated to repay all Advances made hereunder, regardless of which Borrower actually receives said Advance, as if each US Borrower hereunder directly received all Advances. Each Borrower waives waives (a) any suretyship defenses available to it under the Code or any other applicable law, including, without limitation, the benefit of California Civil Code Section 2815 permitting revocation as to future transactions and the benefit of California Civil Code Sections 1432, 2809, 2810, 2819, 2839, 2845, 2847, 2848, 2849, 2850, and 2899 and 3433, and (b) any right to require Collateral Agent or any Lender Bank to: (i) proceed against any Borrower or any other person; (ii) proceed against or exhaust any security; or (iii) pursue any other remedy. Collateral Agent and/or any Lender Bank may exercise or not exercise any right or remedy it has against any Borrower or any security it holds (including the right to foreclose by judicial or non-judicial sale) without affecting any Borrower’s liability. Notwithstanding any other provision of this Agreement or other related document, each Borrower irrevocably waives all rights that it may have at law or in equity (including, without limitation, any law subrogating such Borrower to the rights of Collateral Agent and the Lenders Bank under this Agreement) to seek contribution, indemnification or any other form of reimbursement from any other Borrower, or any other Person now or hereafter primarily or secondarily liable for any of the Obligations, for any payment made by such Borrower with respect to the Obligations in connection with this Agreement or otherwise and all rights that it might have to benefit from, or to participate in, any security for the Obligations as a result of any payment made by such Borrower with respect to the Obligations in connection with this Agreement or otherwise. Any agreement providing for indemnification, reimbursement or any other arrangement prohibited under this Section 12.10 9.9 shall be null and void. If any payment is made to a Borrower in contravention of this Section 12.109.9, such Borrower shall hold such payment in trust for Collateral Agent and the Lenders Bank and such payment shall be promptly delivered to Collateral Agent Bank for application to the Obligations, whether matured or unmatured. Notwithstanding anything to the contrary set forth herein or in any other Loan Document, in no event shall Singapore Borrower be deemed to be a guarantor of, surety in respect of, or otherwise, directly or indirectly, liable for the payment of any Obligations of the US Borrowers.

Appears in 4 contracts

Samples: Loan and Security Agreement (Aviat Networks, Inc.), Loan and Security Agreement (Aviat Networks, Inc.), Loan and Security Agreement (Aviat Networks, Inc.)

Borrower Liability. Each Either Borrower may, acting singly, request credit extensions Advances hereunder. Each Borrower hereby appoints the other as agent for the other for all purposes hereunder, including with respect to requesting credit extensions Advances hereunder. Each Borrower hereunder shall be jointly and severally obligated to repay all credit extensions Advances made hereunder, regardless of which Bxxxxxxx Borrower actually receives said credit extensionAdvance, as if each Borrower hereunder directly received all credit extensionsAdvances. Each Borrower waives waives (a) any suretyship defenses available to it under the Code or any other applicable law, though referencing CA Civil Code sections may be duplicative, for Agreements governed by CA law, add the following - including, without limitation, the benefit of California Civil Code Section 2815 permitting revocation as to future transactions and the benefit of California Civil Code Sections 1432, 2809, 2810, 2819, 2839, 2845, 2847, 2848, 2849, 2850, and 2899 and 3433, and (b) any right to require Collateral Agent or any Lender Bank to: (i) proceed against any Borrower or any other person; (ii) proceed against or exhaust any security; or (iii) pursue any other remedy. Collateral Agent and/or any Lender Bank may exercise or not exercise any right or remedy it has against any Borrower or any security it holds (including the right to foreclose by judicial or non-judicial sale) without affecting any Borrower’s liability. Notwithstanding any other provision of this Agreement or other related document, each Borrower irrevocably waives all rights that it may have at law or in equity (including, without limitation, any law subrogating Borrower to the rights of Collateral Agent and the Lenders Bank under this Agreement) to seek contribution, indemnification or any other form of reimbursement from any other Borrower, or any other Person now or hereafter primarily or secondarily liable for any of the Obligations, for any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise and all rights that it might have to benefit from, or to participate in, any security for the Obligations as a result of any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise. Any agreement providing for indemnification, reimbursement or any other arrangement prohibited under this Section 12.10 shall be null and void. If any payment is made to a Borrower in contravention of this Section 12.10Section, such Borrower shall hold such payment in trust for Collateral Agent and the Lenders Bank and such payment shall be promptly delivered to Collateral Agent Bank for application to the Obligations, whether matured or unmatured.

Appears in 4 contracts

Samples: Loan and Security Agreement, Loan and Security Agreement (Marin Software Inc), Loan and Security Agreement (Marin Software Inc)

Borrower Liability. Each Borrower may, acting singly, request credit extensions Loans hereunder. Each Borrower hereby appoints the each other Borrower as agent for the other for all purposes hereunder, including with respect to requesting credit extensions Loans hereunder. Each Borrower hereunder shall be jointly and severally obligated to repay all credit extensions Loans made hereunder, regardless of which Bxxxxxxx Xxxxxxxx actually receives said credit extensionLoans, as if each Borrower hereunder directly received all credit extensionsLoans. Each Borrower waives waives (a) any suretyship defenses available to it under the Code UCC or any other applicable law, and (b) any right to require Collateral Administrative Agent or any Lender to: (i) proceed against any Borrower or any other personPerson; (ii) proceed against or exhaust any security; or (iii) pursue any other remedy. Collateral Administrative Agent and/or any Lender may exercise or not exercise any right or remedy it has against any Borrower or any security it holds (including the right to foreclose by judicial or non-judicial sale) without affecting any Borrower’s liability. Notwithstanding any other provision of this Credit Agreement or other related document, each Borrower irrevocably waives all rights that it may have at law or in equity (including, without limitation, including any law subrogating such Borrower to the rights of Collateral Administrative Agent and the Lenders and/or any Lender under this Credit Agreement) to seek contribution, indemnification or any other form of reimbursement from any other Borrower, or any other Person now or hereafter primarily or secondarily liable for any of the Obligations, for any payment made by such Borrower with respect to the Obligations in connection with this Credit Agreement or otherwise and all rights that it might have to benefit from, or to participate in, any security for the Obligations as a result of any payment made by such Borrower with respect to the Obligations in connection with this Credit Agreement or otherwise. Any agreement providing for indemnification, reimbursement or any other arrangement prohibited under this Section 12.10 11.19 shall be null and void. If any payment is made to a Borrower in contravention of this Section 12.10Section, such Borrower shall hold such payment in trust for Collateral Administrative Agent and the Lenders and such payment shall be promptly delivered to Collateral Agent Administrative Agent, for the benefit of the Secured Parties, for application to the Obligations, whether matured or unmatured.

Appears in 4 contracts

Samples: Revolving Credit and Security Agreement (Golub Capital Direct Lending Corp), Revolving Credit and Security Agreement (Golub Capital Direct Lending Corp), Revolving Credit and Security Agreement (Golub Capital BDC 4, Inc.)

Borrower Liability. Each If any Person is named as, or joined to this Agreement as, a Borrower, the following provisions shall apply: any Borrower may, acting singly, request credit extensions Credit Extensions hereunder. Each Borrower hereby appoints the other others as agent for the other for all purposes hereunder, including with respect to requesting credit extensions Credit Extensions hereunder. Each Borrower hereunder shall be jointly and severally obligated to repay all credit extensions Credit Extensions made hereunder, regardless of which Bxxxxxxx Borrower actually receives said credit extensionCredit Extension, as if each Borrower hereunder directly received all credit extensionsCredit Extensions. Each Borrower waives (a) any suretyship defenses available to it under the Code or any other applicable law, law and (b) any right to require Collateral Agent or any Lender to: (i) proceed against any Borrower or any other person; (ii) proceed against or exhaust any security; or (iii) pursue any other remedy. Collateral Agent and/or any Lender may exercise or not exercise any right or remedy it has against any Borrower or any security it holds (including the right to foreclose by judicial or non-judicial sale) without affecting any Borrower’s liability. Notwithstanding any other provision of this Agreement or other related document, each Borrower irrevocably waives all rights that it may have at law or in equity (including, without limitation, including any law subrogating such Borrower to the rights of Collateral Agent and the Lenders Lender under this Agreement) to seek contribution, indemnification or any other form of reimbursement from any other Borrower, or any other Person now or hereafter primarily or secondarily liable for any of the Obligations, for any payment made by such Borrower with respect to the Obligations in connection with this Agreement or otherwise and all rights that it might have to benefit from, or to participate in, any security for the Obligations as a result of any payment made by such Borrower with respect to the Obligations in connection with this Agreement or otherwise. Any agreement providing for indemnification, reimbursement or any other arrangement prohibited under this Section 12.10 13.4 shall be null and void. If any payment is made to a Borrower in contravention of this Section 12.1013.4, such Borrower shall hold such payment in trust for Collateral Agent and the Lenders Lender and such payment shall be promptly delivered to Collateral Agent Lender for application to the Obligations, whether matured or unmatured.

Appears in 4 contracts

Samples: Loan and Security Agreement (Pulmonx Corp), Loan and Security Agreement (Pulmonx Corp), Loan and Security Agreement (Pulmonx Corp)

Borrower Liability. Each Either Borrower may, acting singly, request credit extensions Credit Extensions hereunder. Each Borrower hereby appoints the other as agent for the other for all purposes hereunder, including with respect to requesting credit extensions Credit Extensions hereunder. Each Borrower hereunder shall be jointly and severally obligated to repay all credit extensions Credit Extensions made hereunder, regardless of which Bxxxxxxx Borrower actually receives said credit extensionCredit Extension, as if each Borrower hereunder directly received all credit extensionsCredit Extensions. Each Borrower waives (a) any suretyship defenses available to it under the Code or any other applicable law, and (b) any right to require Collateral Agent or any Lender to: (i) proceed against any Borrower or any other person; (ii) proceed against or exhaust any security; or (iii) pursue any other remedy. Collateral Agent and/or and or any Lender may exercise or not exercise any right or remedy it has against any Borrower or any security it holds (including the right to foreclose by judicial or non-judicial non‑judicial sale) without affecting any Borrower’s liability. Notwithstanding any other provision of this Agreement or other related document, each Borrower irrevocably waives all rights that it may have at law or in equity (including, without limitation, any law subrogating Borrower to the rights of Collateral Agent and the Lenders under this Agreement) to seek contribution, indemnification or any other form of reimbursement from any other Borrower, or any other Person now or hereafter primarily or secondarily liable for any of the Obligations, for any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise and all rights that it might have to benefit from, or to participate in, any security for the Obligations as a result of any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise. Any agreement providing for indemnification, reimbursement or any other arrangement prohibited under this Section 12.10 shall be null and void. If any payment is made to a Borrower in contravention of this Section 12.10Section, such Borrower shall hold such payment in trust for Collateral Agent and the Lenders and such payment shall be promptly delivered to Collateral Agent for application to the Obligations, whether matured or unmatured.

Appears in 4 contracts

Samples: Loan and Security Agreement (ObsEva SA), Loan and Security Agreement (Rockwell Medical, Inc.), Loan and Security Agreement (ObsEva SA)

Borrower Liability. Each Borrower mayIf any Person is joined to this Agreement as a Borrower, acting singly, request credit extensions hereunder. Each Borrower hereby appoints the other as agent for the other for all purposes hereunder, including with respect to requesting credit extensions hereunder. following provisions shall apply: Each Borrower hereunder shall be jointly and severally obligated to repay all credit extensions Loans made hereunder, regardless of which Bxxxxxxx Xxxxxxxx actually receives said credit extensionLoan, as if each Borrower hereunder directly received all credit extensionsLoans. Each Borrower waives (a) any suretyship defenses available to it under the Code or any other applicable law, and (b) any right to require Collateral Agent or any Lender Trustee to: (i) proceed against any Borrower or any other person; (ii) proceed against or exhaust any security; or (iii) pursue any other remedy. Collateral Agent and/or any Lender Trustee may exercise or not exercise any right or remedy it has against any Borrower or any security it holds (including the right to foreclose by judicial or non-judicial sale) without affecting any Borrower’s liability. Notwithstanding any other provision of this Agreement or other related document, each Borrower irrevocably waives all rights that it may have at law or in equity (including, without limitation, any law subrogating Borrower to the rights of Collateral Agent and the Lenders Trustee under this Agreement) to seek contribution, indemnification or any other form of reimbursement from any other Borrower, or any other Person now or hereafter primarily or secondarily liable for any of the Obligations, for any payment made by such Borrower with respect to the Obligations in connection with this Agreement or otherwise and all rights that it might have to benefit from, or to participate in, any security for the Obligations as a result of any payment made by a Borrower with respect to the Obligations in connection with this Agreement or otherwise. Any agreement providing for indemnification, reimbursement or any other arrangement prohibited under this Section 12.10 shall be null and void. If any payment is made to a Borrower in contravention of this Section 12.10Section, such Borrower shall hold such payment in trust for Collateral Agent and the Lenders and such payment shall be promptly delivered to Collateral Agent Trustee, for the ratable benefit of Lenders, for application to the Obligations, whether matured or unmatured.

Appears in 3 contracts

Samples: Loan and Security Agreement (89bio, Inc.), Loan and Security Agreement (89bio, Inc.), Loan and Security Agreement (TScan Therapeutics, Inc.)

Borrower Liability. Each Either Borrower may, acting singly, request credit extensions Credit Extensions hereunder. Each Borrower hereby appoints the other as agent for the other for all purposes hereunder, including with respect to requesting credit extensions Credit Extensions hereunder. Each Borrower hereunder shall be jointly and severally obligated to repay all credit extensions Credit Extensions made hereunder, regardless of which Bxxxxxxx Borrower actually receives said credit extensionCredit Extension, as if each Borrower hereunder directly received all credit extensionsCredit Extensions. Each Borrower waives (a) any suretyship defenses available to it under the Code or any other applicable law, including, without limitation, the benefit of California Civil Code Section 2815 permitting revocation as to future transactions and the benefit of California Civil Code Sections 1432, 2809, 2810, 2819, 2839, 2845, 2847, 2848, 2849, 2850, and 2899 and 3433, and (b) any right to require Collateral Agent or any Lender to: (i) proceed against any Borrower or any other person; (ii) proceed against or exhaust any security; or (iii) pursue any other remedy. Collateral Agent and/or and or any Lender may exercise or not exercise any right or remedy it has against any Borrower or any security it holds (including the right to foreclose by judicial or non-judicial non‑judicial sale) without affecting any Borrower’s liability. Notwithstanding any other provision of this Agreement or other related document, each Borrower irrevocably waives all rights that it may have at law or in equity (including, without limitation, any law subrogating Borrower to the rights of Collateral Agent and the Lenders under this Agreement) to seek contribution, indemnification or any other form of reimbursement from any other Borrower, or any other Person now or hereafter primarily or secondarily liable for any of the Obligations, for any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise and all rights that it might have to benefit from, or to participate in, any security for the Obligations as a result of any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise. Any agreement providing for indemnification, reimbursement or any other arrangement prohibited under this Section 12.10 shall be null and void. If any payment is made to a Borrower in contravention of this Section 12.10Section, such Borrower shall hold such payment in trust for Collateral Agent and the Lenders and such payment shall be promptly delivered to Collateral Agent for application to the Obligations, whether matured or unmatured.

Appears in 3 contracts

Samples: Loan and Security Agreement (Viracta Therapeutics, Inc.), Loan and Security Agreement (Invitae Corp), Loan and Security Agreement (Invitae Corp)

Borrower Liability. Each Either Borrower may, acting singly, request credit extensions Credit Extensions hereunder. Each Borrower hereby appoints the other as agent for the other for all purposes hereunder, including with respect to requesting credit extensions Credit Extensions hereunder. Each Borrower hereunder shall be jointly and severally obligated to repay all credit extensions Credit Extensions made hereunder, regardless of which Bxxxxxxx Borrower actually receives said credit extensionCredit Extension, as if each Borrower hereunder directly received all credit extensionsCredit Extensions. Each Borrower waives (a) any suretyship defenses available to it under the Code or any other applicable law, and (b) any right to require Collateral Agent or any Lender to: (i) proceed against any Borrower or any other person; (ii) proceed against or exhaust any security; or (iii) pursue any other remedy. Collateral Agent and/or and or any Lender may exercise or not exercise any right or remedy it has against any Borrower or any security it holds (including the right to foreclose by judicial or non-judicial sale) without affecting any Borrower’s liability. Notwithstanding any other provision of this Agreement or other related document, until the Obligations have been indefeasibly paid in full in cash and all obligations of the Collateral Agent and/or Lenders to make loans or otherwise extend credit to the Company have terminated, each Borrower irrevocably waives all rights that it may have at law or in equity (including, without limitation, any law subrogating Borrower to the rights of Collateral Agent and the Lenders under this Agreement) to seek contribution, indemnification or any other form of reimbursement from any other Borrower, or any other Person now or hereafter primarily or secondarily liable for any of the Obligations, for any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise and all rights that it might have to benefit from, or to participate in, any security for the Obligations as a result of any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise. Any agreement providing for indemnification, reimbursement or any other arrangement prohibited under this Section 12.10 shall be null and void. If any payment is made to a Borrower in contravention of this Section 12.10Section, such Borrower shall hold such payment in trust for Collateral Agent and the Lenders and such payment shall be promptly delivered to Collateral Agent for application to the Obligations, whether matured or unmatured.

Appears in 3 contracts

Samples: Loan and Security Agreement (Relypsa Inc), Loan and Security Agreement (Relypsa Inc), Loan and Security Agreement (Pacira Pharmaceuticals, Inc.)

Borrower Liability. Each Borrower may, acting singly, request credit extensions Credit Extensions hereunder. Each Borrower hereby appoints the each other as agent for the other for all purposes hereunder, including with respect to requesting credit extensions Credit Extensions hereunder. Each Borrower hereunder shall be jointly and severally obligated to repay all credit extensions Credit Extensions made hereunder, regardless of which Bxxxxxxx Borrower actually receives said credit extensionCredit Extension, as if each Borrower hereunder directly received all credit extensionsCredit Extensions. Each Borrower waives (a) any suretyship defenses available to it under the Code or any other applicable law, and (b) any right to require Collateral Agent or any Lender Bank to: (i) proceed against any Borrower or any other person; (ii) proceed against or exhaust any security; or (iii) pursue any other remedy. Collateral Agent and/or any Lender Bank may exercise or not exercise any right or remedy it has against any Borrower or any security it holds (including the right to foreclose by judicial or non-judicial sale) without affecting any Borrower’s liability. Notwithstanding any other provision of this Agreement or other related document, each Borrower irrevocably waives all rights that it may have at law or in equity (including, without limitation, any law subrogating Borrower to the rights of Collateral Agent and the Lenders Bank under this Agreement) to seek contribution, indemnification or any other form of reimbursement from any other Borrower, or any other Person now or hereafter primarily or secondarily liable for any of the Obligations, for any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise and all rights that it might have to benefit from, or to participate in, any security for the Obligations as a result of any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise. Any agreement providing for indemnification, reimbursement or any other arrangement prohibited under this Section 12.10 9.8 shall be null and void. If any payment is made to a Borrower in contravention of this Section 12.109.8, such Borrower shall hold such payment in trust for Collateral Agent and the Lenders Bank and such payment shall be promptly delivered to Collateral Agent Bank for application to the Obligations, whether matured or unmatured.

Appears in 3 contracts

Samples: Loan and Security Agreement (Interpace Biosciences, Inc.), Loan and Security Agreement (Corindus Vascular Robotics, Inc.), Loan and Security Agreement (Medical Transcription Billing, Corp)

Borrower Liability. Each Any Borrower may, acting singly, request credit extensions Credit Extensions hereunder. Each Borrower hereby appoints the other as agent for the other for all purposes hereunder, including with respect to requesting credit extensions Credit Extensions hereunder. Each Borrower hereunder shall be jointly and severally obligated to repay all credit extensions Credit Extensions made hereunder, regardless of which Bxxxxxxx Borrower actually receives said credit extensionCredit Extension, as if each Borrower hereunder directly received all credit extensionsCredit Extensions. Each Borrower waives (a) any suretyship defenses available to it under the Code or any other applicable law, and (b) any right to require Collateral Agent or any Lender Bank to: (i) proceed against any Borrower or any other person; (ii) proceed against or exhaust any security; or (iii) pursue any other remedy. Collateral Agent and/or any Lender Bank may exercise or not exercise any right or remedy it has against any Borrower or any security it holds (including the right to foreclose by judicial or non-judicial sale) without affecting any other Borrower’s liability. Notwithstanding any other provision of this Agreement or other related document, each Borrower irrevocably waives all rights that it may have at law or in equity (including, without limitation, any law subrogating Borrower to the rights of Collateral Agent and the Lenders Bank under this Agreement) to seek contribution, indemnification or any other form of reimbursement from any other Borrower, or any other Person now or hereafter primarily or secondarily liable for any of the Obligations, for any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise and all rights that it might have to benefit from, or to participate in, any security for the Obligations as a result of any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise. Any agreement providing for indemnification, reimbursement or any other arrangement prohibited under this Section 12.10 shall be null and void. If any payment is made to a Borrower in contravention of this Section 12.10Section, such Borrower shall hold such payment in trust for Collateral Agent and the Lenders Bank and such payment shall be promptly delivered to Collateral Agent Bank for application to the Obligations, whether matured or unmatured.

Appears in 3 contracts

Samples: Loan and Security Agreement (Global Telecom & Technology, Inc.), Loan and Security Agreement (Global Telecom & Technology, Inc.), Loan and Security Agreement (Global Telecom & Technology, Inc.)

Borrower Liability. Each Either Borrower may, acting singly, request credit extensions Credit Extensions hereunder. Each Borrower hereby appoints the other as agent for the other for all purposes hereunder, including with respect to requesting credit extensions Credit Extensions hereunder. Each Borrower hereunder shall be jointly and severally obligated to repay all credit extensions Credit Extensions made hereunder, regardless of which Bxxxxxxx Borrower actually receives said credit extensionCredit Extension, as if each Borrower hereunder directly received all credit extensionsCredit Extensions. Each Borrower waives (a) any suretyship defenses available to it under the Code or any other applicable law, and (b) any right to require Collateral Agent or any Lender to: (i) proceed against any Borrower or any other person; (ii) proceed against or exhaust any security; or (iii) pursue any other remedy. Collateral Agent and/or and or any Lender may exercise or not exercise any right or remedy it has against any Borrower or any security it holds (including the right to foreclose by judicial or non-judicial sale) without affecting any Borrower’s liability. Notwithstanding any other provision of this Agreement or other related document, each Borrower irrevocably waives all rights that it may have at law or in equity (including, without limitation, any law subrogating Borrower to the rights of Collateral Agent and the Lenders under this Agreement) to seek contribution, indemnification or any other form of reimbursement from any other Borrower, or any other Person now or hereafter primarily or secondarily liable for any of the Obligations, for any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise and all rights that it might have to benefit from, or to participate in, any security for the Obligations as a result of any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise, until all Obligations (other than inchoate indemnity obligations) have been paid in full, the Lenders’ obligations to make Credit Extensions are terminated and the Loan Documents are terminated. Any agreement providing for indemnification, reimbursement or any other arrangement prohibited under this Section 12.10 shall be null and void. If any payment is made to a Borrower in contravention of this Section 12.10Section, such Borrower shall hold such payment in trust for Collateral Agent and the Lenders and such payment shall be promptly delivered to Collateral Agent for application to the Obligations, whether matured or unmatured. 7. Section 13.1 of the Loan Agreement is hereby amended by adding the following definitions thereto in alphabetical order:

Appears in 3 contracts

Samples: Loan and Security Agreement (Adynxx, Inc.), Loan and Security Agreement (Adynxx, Inc.), Loan and Security Agreement (Alliqua BioMedical, Inc.)

Borrower Liability. Each Any Borrower may, acting singly, request credit extensions Credit Extensions hereunder. Each Borrower hereby appoints the each other as agent for the other for all purposes hereunder, including with respect to requesting credit extensions Credit Extensions hereunder. Each Borrower hereunder shall be jointly and severally obligated to repay all credit extensions Credit Extensions made hereunder, regardless of which Bxxxxxxx Borrower actually receives said credit extensionCredit Extension, as if each Borrower hereunder directly received all credit extensionsCredit Extensions. Each Borrower waives (a) any suretyship defenses available to it under the Code or any other applicable law, including, without limitation, the benefit of California Civil Code Section 2815 permitting revocation as to future transactions and the benefit of California Civil Code Sections 1432, 2809, 2810, 2819, 2839, 2845, 2847, 2848, 2849, 2850, and 2899 and 3433, and (b) any right to require Collateral Agent or any Lender Bank to: (i) proceed against any Borrower or any other person; (ii) proceed against or exhaust any security; or (iii) pursue any other remedy. Collateral Agent and/or any Lender Bank may exercise or not exercise any right or remedy it has against any Borrower or any security it holds (including the right to foreclose by judicial or non-judicial sale) without affecting any Borrower’s liability. Notwithstanding any other provision of this Agreement or other related document, each Borrower irrevocably waives all rights that it may have at law or in equity (including, without limitation, any law subrogating Borrower to the rights of Collateral Agent and the Lenders Bank under this Agreement) to seek contribution, indemnification or any other form of reimbursement from any other Borrower, or any other Person now or hereafter primarily or secondarily liable for any of the Obligations, for any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise and all rights that it might have to benefit from, or to participate in, any security for the Obligations as a result of any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise. Any agreement providing for indemnification, reimbursement or any other arrangement prohibited under this Section 12.10 shall be null and void. If any payment is made to a Borrower in contravention of this Section 12.10Section, such Borrower shall hold such payment in trust for Collateral Agent and the Lenders Bank and such payment shall be promptly delivered to Collateral Agent Bank for application to the Obligations, whether matured or unmatured. 3.3 Section 13 (Definitions). The following terms and their respective definitions are added to Section 13.1, in appropriate alphabetical order, as follows:

Appears in 3 contracts

Samples: Loan and Security Agreement (FireEye, Inc.), Loan and Security Agreement (FireEye, Inc.), Loan and Security Agreement (FireEye Inc)

Borrower Liability. Each If there is more than one (1) entity comprising Borrower, then (a) any Borrower may, acting singly, request credit extensions Credit Extensions hereunder. Each , (b) each Borrower hereby appoints the other as agent for the other for all purposes hereunder, including with respect to requesting credit extensions Credit Extensions hereunder. Each , (c) each Borrower hereunder shall be jointly and severally obligated to pay and perform all obligations under the Financing Documents, including, but not limited to, the obligation to repay all credit extensions Credit Extensions made hereunderhereunder and all other Obligations, regardless of which Bxxxxxxx Borrower actually receives said credit extensionCredit Extensions, as if each Borrower hereunder directly received all credit extensions. Each Credit Extensions, and (d) each Borrower waives waives (a1) any suretyship defenses available to it under the Code or any other applicable law, and (b2) any right to require Collateral the Lenders or Agent or any Lender to: (iA) proceed against any Borrower or any other person; (iiB) proceed against or exhaust any security; or (iiiC) pursue any other remedy. Collateral The Lenders or Agent and/or any Lender may exercise or not exercise any right or remedy it has they have against any Borrower Credit Party or any security it holds (including the right to foreclose by judicial or non-judicial sale) without affecting any Borrowerother Credit Party’s liabilityliability or any Lien against any other Credit Party’s assets. Notwithstanding any other provision of this Agreement or other related document, until the indefeasible payment in cash in full of the Obligations (other than inchoate indemnity obligations for which no claim has yet been made) and termination of the Applicable Commitments, each Borrower irrevocably waives all rights that it may have at law or in equity (including, without limitation, any law subrogating Borrower to the rights of Collateral Agent and the Lenders and Agent under this Agreement) to seek contribution, indemnification or any other form of reimbursement from any other BorrowerCredit Party, or any other Person now or hereafter primarily or secondarily liable for any of the Obligations, for any payment made by Borrower any Credit Party with respect to the Obligations in connection with this Agreement or otherwise and all rights that it might have to benefit from, or to participate in, any security for the Obligations as a result of any payment made by Borrower a Credit Party with respect to the Obligations in connection with this Agreement or otherwise. Any agreement providing for indemnification, reimbursement or any other arrangement prohibited under this Section 12.10 shall be null and void. If any payment is made to a Borrower Credit Party in contravention of this Section 12.10Section, such Borrower Credit Party shall hold such payment in trust for Collateral Agent and the Lenders and Agent and such payment shall be promptly delivered to Collateral Agent for application to the Obligations, whether matured or unmatured.

Appears in 3 contracts

Samples: Credit and Security Agreement (Recursion Pharmaceuticals, Inc.), Credit, Guaranty and Security Agreement (Gossamer Bio, Inc.), Credit, Guaranty and Security Agreement (Midatech Pharma PLC)

Borrower Liability. Each Either Borrower may, acting singly, request credit extensions advances hereunder. Each Borrower hereby appoints the other as agent for the other for all purposes hereunder, including with respect to requesting credit extensions advances hereunder. Each Borrower hereunder shall be jointly and severally obligated to repay all credit extensions advances made hereunder, regardless of which Bxxxxxxx Borrower actually receives said credit extensionadvance, as if each Borrower hereunder directly received all credit extensionsadvances. Each Borrower waives waives (a) any suretyship defenses available to it under the Code code or any other applicable law, including, without limitation, the benefit of California Civil Code section 2815 permitting revocation as to future transactions and the benefit of California Civil Code sections 1432, 2809, 2810, 2819, 2839, 2845, 2847, 2848, 2849, 2850, and 2899 and 3433, and (b) any right to require Collateral Agent or any Lender Bank to: (i) proceed against any Borrower or any other person; (ii) proceed against or exhaust any security; or (iii) pursue any other remedy. Collateral Agent and/or any Lender Bank may exercise or not exercise any right or remedy it has against any Borrower or any security it holds (including the right to foreclose by judicial or non-judicial sale) without affecting any Borrower’s liability. Notwithstanding any other provision of this Agreement agreement or other related document, each Borrower irrevocably waives all rights that it may have at law or in equity (including, without limitation, any law subrogating Borrower to the rights of Collateral Agent and the Lenders Bank under this Agreementagreement) to seek contribution, indemnification or any other form of reimbursement from any other Borrower, or any other Person person now or hereafter primarily or secondarily liable for any of the Obligationsobligations, for any payment made by Borrower with respect to the Obligations obligations in connection with this Agreement agreement or otherwise and all rights that it might have to benefit from, or to participate in, any security for the Obligations obligations as a result of any payment made by Borrower with respect to the Obligations obligations in connection with this Agreement agreement or otherwise. Any agreement providing for indemnification, reimbursement or any other arrangement prohibited under this Section 12.10 section shall be null and void. If any payment is made to a Borrower in contravention of this Section 12.10section, such Borrower shall hold such payment in trust for Collateral Agent and the Lenders Bank and such payment shall be promptly delivered to Collateral Agent Bank for application to the Obligationsobligations, whether matured or unmatured.

Appears in 3 contracts

Samples: Loan and Security Agreement (Taiwan Liposome Company, Ltd.), Loan and Security Agreement (Taiwan Liposome Company, Ltd.), Loan and Security Agreement (Taiwan Liposome Company, Ltd.)

Borrower Liability. Each Any Borrower may, acting singly, request credit extensions Credit Extensions hereunder. Each Borrower hereby appoints the each other as agent for the other for all purposes hereunder, including with respect to requesting credit extensions Credit Extensions hereunder. Each Borrower hereunder shall be jointly liable for the Credit Extensions and severally obligated to repay all credit extensions made hereunder, regardless of which Bxxxxxxx actually receives said credit extension, Obligations as if each Borrower hereunder directly received all credit extensionsset forth on Schedule I hereto. Each Borrower waives waives (a) any suretyship defenses available to it under the Code or any other applicable lawApplicable Law, and (b) any right to require Collateral Agent or any Lender Bank to: (i) proceed against any Borrower or any other person; (ii) proceed against or exhaust any security; or (iii) pursue any other remedy. Collateral Agent and/or any Lender Bank may exercise or not exercise any right or remedy it has against any Borrower or any security it holds (including the right to foreclose by judicial or non-judicial sale) without affecting any Borrower’s liability. Notwithstanding any other provision of this Agreement or other related document, each Borrower irrevocably waives all rights that it may have at law or in equity (including, without limitation, any law subrogating Borrower to the rights of Collateral Agent and the Lenders Bank under this Agreement) to seek contribution, indemnification or any other form of reimbursement from any other Borrower, or any other Person now or hereafter primarily or secondarily liable for any of the Obligations, for any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise and all rights that it might have to benefit from, or to participate in, any security for the Obligations as a result of any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise. Any agreement providing for indemnification, reimbursement or any other arrangement prohibited under this Section 12.10 8.8 shall be null and void. If any payment is made to a Borrower in contravention of this Section 12.108.8, such Borrower shall hold such payment in trust for Collateral Agent and the Lenders Bank and such payment shall be promptly delivered to Collateral Agent Bank for application to the Obligations, whether matured or unmatured.

Appears in 3 contracts

Samples: Loan and Security Agreement (Ibotta, Inc.), Loan and Security Agreement (EyePoint Pharmaceuticals, Inc.), Loan and Security Agreement (Ibotta, Inc.)

Borrower Liability. Each Borrower may, acting singly, request credit extensions hereunder. Each Borrower hereby appoints the other as agent for the other for all purposes hereunder, including with respect to requesting credit extensions hereunder. Each Borrower hereunder shall be jointly and severally obligated to repay all credit extensions Loans made hereunder, regardless of which Bxxxxxxx actually receives said credit extensionLoan, as if each Borrower hereunder directly received all credit extensionsLoans. Each Borrower waives (a) any suretyship defenses available to it under the Code or any other applicable law, and (b) any right to require Collateral JGB Agent or any Lender to: (i) proceed against any Borrower or any other person; (ii) proceed against or exhaust any security; or (iii) pursue any other remedy. Collateral JGB Agent and/or any Lender may exercise or not exercise any right or remedy it has against any Borrower or any security it holds (including the right to foreclose by judicial or non-judicial sale) without affecting any Borrower’s liability. Notwithstanding any other provision of this Agreement or other related document, each Borrower irrevocably waives all rights that it may have at law or in equity (including, without limitation, any law subrogating Borrower to the rights of Collateral JGB Agent and the Lenders under this Agreement) to seek contribution, indemnification or any other form of reimbursement from any other Borrower, or any other Person now or hereafter primarily or secondarily liable for any of the Obligations, for any payment made by such Borrower with respect to the Obligations in connection with this Agreement or otherwise and all rights that it might have to benefit from, or to participate in, any security for the Obligations as a result of any payment made by such Borrower with respect to the Obligations in connection with this Agreement or otherwise. Any agreement providing for indemnification, reimbursement or any other arrangement prohibited under this Section 12.10 shall be null and void. If any payment is made to a Borrower in contravention of this Section 12.10Section, such Borrower shall hold such payment in trust for Collateral Agent and the Lenders and such payment shall be promptly delivered to Collateral Agent JGB Agent, for the ratable benefit of Lenders, for application to the Obligations, whether matured or unmatured.

Appears in 3 contracts

Samples: Loan and Guaranty Agreement (Ault Alliance, Inc.), Loan and Guaranty Agreement (Ault Alliance, Inc.), Loan and Guaranty Agreement (BitNile Holdings, Inc.)

Borrower Liability. Each Either Borrower may, acting singly, request credit extensions Term Loans hereunder. Each Borrower hereby appoints the other as agent for the other for all purposes hereunder, including with respect to requesting credit extensions Term Loans hereunder. Each Borrower hereunder shall be jointly and severally obligated to repay all credit extensions Term Loans made hereunder, regardless of which Bxxxxxxx Borrower actually receives said credit extensionTerm Loan, as if each Borrower hereunder directly received all credit extensionsTerm Loans. Each Borrower waives waives (a) any suretyship defenses available to it under the Code or any other applicable law, and (b) any right to require Collateral Agent or any Lender to: (i) proceed against any Borrower or any other person; (ii) proceed against or exhaust any security; or (iii) pursue any other remedy. Collateral Agent and/or any Lender may exercise or not exercise any right or remedy it has against any Borrower or any security it holds (including the right to foreclose by judicial or non-judicial nonjudicial sale) without affecting any Borrower’s liability. Notwithstanding any other provision of this Agreement or other related document, until the Obligations (other than inchoate indemnity obligations) have been indefeasibly satisfied in full, in cash, and Lenders no longer have a commitment to make Credit Extensions hereunder, each Borrower irrevocably waives all rights that it may have at law or in equity (including, without limitation, any law subrogating Borrower to the rights of Collateral Agent and the Lenders under this Agreement) to seek contribution, indemnification or any other form of reimbursement from any other Borrower, or any other Person now or hereafter primarily or secondarily liable for any of the Obligations, for any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise and all rights that it might have to benefit from, or to participate in, any security for the Obligations as a result of any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise. Any agreement providing for indemnification, reimbursement or any other arrangement prohibited under this Section 12.10 shall be null and void. If any payment is made to a Borrower in contravention of this Section 12.10Section, such Borrower shall hold such payment in trust for Collateral Agent and the Lenders and such payment shall be promptly delivered to Collateral Agent for application to the Obligations, whether matured or unmatured.

Appears in 3 contracts

Samples: Loan and Security Agreement (Sophiris Bio Inc.), Loan and Security Agreement (Sophiris Bio Inc.), Loan and Security Agreement (Sophiris Bio Inc.)

Borrower Liability. Each Either Borrower may, acting singly, request credit extensions Credit Extensions hereunder. Each Borrower hereby appoints the other as agent for the other for all purposes hereunder, including with respect to requesting credit extensions Credit Extensions hereunder. Each Borrower hereunder shall be jointly and severally obligated to repay all credit extensions Credit Extensions made hereunder, regardless of which Bxxxxxxx Borrower actually receives said credit extensionCredit Extension, as if each Borrower hereunder directly received all credit extensionsCredit Extensions. Each Borrower waives waives (a) any suretyship defenses available to it under the Code or any other applicable law, including, without limitation, the benefit of California Civil Code Section 2815 permitting revocation as to future transactions and the benefit of California Civil Code Sections 1432, 2809, 2810, 2819, 2839, 2845, 2847, 2848, 2849, 2850, and 2899 and 3433, and (b) any right to require Collateral Agent or any Lender to: (i) proceed against any Borrower or any other person; (ii) proceed against or exhaust any security; or (iii) pursue any other remedy. Collateral Agent and/or and or any Lender may exercise or not exercise any right or remedy it has against any Borrower or any security it holds (including the right to foreclose by judicial or non-judicial non‑judicial sale) without affecting any Borrower’s liability. Notwithstanding any other provision of this Agreement or other related document, each Borrower irrevocably waives all rights that it may have at law or in equity (including, without limitation, any law subrogating Borrower to the rights of Collateral Agent and the Lenders under this Agreement) to seek contribution, indemnification or any other form of reimbursement from any other Borrower, or any other Person now or hereafter primarily or secondarily liable for any of the Obligations, for any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise and all rights that it might have to benefit from, or to participate in, any security for the Obligations as a result of any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise. Any agreement providing for indemnification, reimbursement or any other arrangement prohibited under this Section 12.10 shall be null and void. If any payment is made to a Borrower in contravention of this Section 12.10Section, such Borrower shall hold such payment in trust for Collateral Agent and the Lenders and such payment shall be promptly delivered to Collateral Agent for application to the Obligations, whether matured or unmatured.

Appears in 3 contracts

Samples: Loan and Security Agreement (Halozyme Therapeutics Inc), Loan and Security Agreement (Halozyme Therapeutics Inc), Loan and Security Agreement (Halozyme Therapeutics Inc)

Borrower Liability. Each Either Borrower may, acting singly, request credit extensions Advances hereunder. Each Borrower hereby appoints the other as agent for the other for all purposes hereunder, including with respect to requesting credit extensions Advances hereunder. Each Borrower hereunder shall be jointly and severally obligated to repay all credit extensions Advances made hereunder, regardless of which Bxxxxxxx Borrower actually receives said credit extensionAdvance, as if each Borrower hereunder directly received all credit extensions. Each Borrower waives (a) any suretyship defenses available to it under the Code or any other applicable law, and (b) any right to require Collateral Agent or any Lender to: (i) proceed against any Borrower or any other person; (ii) proceed against or exhaust any security; or (iii) pursue any other remedy. Collateral Agent and/or any Lender may exercise or not exercise any right or remedy it has against any Borrower or any security it holds (including the right to foreclose by judicial or non-judicial sale) without affecting any Borrower’s liabilityAdvances. Notwithstanding any other provision of this Agreement or other related document, each Borrower irrevocably waives all rights that it may have at law or in equity (including, without limitation, any law subrogating Borrower to the rights of Collateral Agent and the Lenders Bank under this Agreement) to seek contribution, indemnification or any other form of reimbursement from any other Borrower, or any other Person now or hereafter primarily or secondarily liable for any of the Obligations, for any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise and all rights that it might have to benefit from, or to participate in, any security for the Obligations as a result of any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise. Any agreement providing for indemnification, reimbursement or any other arrangement prohibited under this Section 12.10 shall be null and void. If any payment is made to a Borrower in contravention of this Section 12.10Section, such Borrower shall hold such payment in trust for Collateral Agent and the Lenders Bank and such payment shall be promptly delivered to Collateral Agent Bank for application to the Obligations, whether matured or unmatured.

Appears in 3 contracts

Samples: Loan and Security Agreement (Entrada Networks Inc), Loan and Security Agreement (Insignia Solutions PLC), Loan and Security Agreement (Peerless Systems Corp)

Borrower Liability. Each Either Borrower may, acting singly, request credit extensions Advances hereunder. Each Borrower hereby appoints the other as agent for the other for all purposes hereunder, including with respect to requesting credit extensions Advances hereunder. Each Borrower hereunder shall be jointly and severally obligated to repay all credit extensions Advances made hereunder, regardless of which Bxxxxxxx Borrower actually receives said credit extensionAdvance, as if each Borrower hereunder directly received all credit extensionsAdvances. Each Borrower waives waives (a) any suretyship defenses available to it under the Code or any other applicable law, including, without limitation, the benefit of California Civil Code Section 2815 permitting revocation as to future transactions and the benefit of California Civil Code Sections 1432, 2809, 2810, 2819, 2839, 2845, 2847, 2848, 2849, 2850, and 2899 and 3433, and (b) any right to require Collateral Agent or any Lender Bank to: (i) proceed against any Borrower or any other person; (ii) proceed against or exhaust any security; or (iii) pursue any other remedy. Collateral Agent and/or any Lender Bank may exercise or not exercise any right or remedy it has against any Borrower or any security it holds (including the right to foreclose by judicial or non-judicial sale) without affecting any Borrower’s liability. Notwithstanding any other provision of this Agreement or other related document, each Borrower irrevocably waives all rights that it may have at law or in equity (including, without limitation, any law subrogating Borrower to the rights of Collateral Agent and the Lenders Bank under this Agreement) to seek contribution, indemnification or any other form of reimbursement from any other Borrower, or any other Person now or hereafter primarily or secondarily liable for any of the Obligations, for any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise and all rights that it might have to benefit from, or to participate in, any security for the Obligations as a result of any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise. Any agreement providing for indemnification, reimbursement or any other arrangement prohibited under this Section 12.10 shall be null and void. If any payment is made to a Borrower in contravention of this Section 12.10Section, such Borrower shall hold such payment in trust for Collateral Agent and the Lenders Bank and such payment shall be promptly delivered to Collateral Agent Bank for application to the Obligations, whether matured or unmatured.

Appears in 3 contracts

Samples: Loan and Security Agreement (Marin Software Inc), Loan and Security Agreement (Lantronix Inc), Loan and Security Agreement (Lyris, Inc.)

Borrower Liability. Each Either Borrower may, acting singly, request credit extensions Advances hereunder. Each Borrower hereby appoints the other as agent for the other for all purposes hereunder, including with respect to requesting credit extensions Advances hereunder. Each Borrower hereunder shall be jointly and severally obligated to repay all credit extensions Advances made hereunder, regardless of which Bxxxxxxx Borrower actually receives said credit extensionAdvance, as if each Borrower hereunder directly received all credit extensionsAdvances. Each Borrower waives waives (a) any suretyship defenses available to it under the Code or any other applicable law, including, without limitation, the benefit of California Civil Code Section 2815 permitting revocation as to future transactions and the benefit of California Civil Code Sections 1432, 2809, 2810, 2819, 2839, 2845, 2847, 2848, 2849, 2850, and 2899 and 3433, and (b) any right to require Collateral Agent or any Lender to: (i) proceed against any Borrower or any other person; (ii) proceed against or exhaust any security; or (iii) pursue any other remedy. Collateral Agent and/or any Lender may exercise or not exercise any right or remedy it has against any Borrower or any security it holds (including the right to foreclose by judicial or non-judicial sale) without affecting any Borrower’s liability. Notwithstanding any other provision of this Agreement or other related document, each Borrower irrevocably waives all rights that it may have at law or in equity (including, without limitation, any law subrogating Borrower to the rights of Collateral Agent and the Lenders Lender under this Agreement) to seek contribution, indemnification or any other form of reimbursement from any other Borrower, or any other Person now or hereafter primarily or secondarily liable for any of the Secured Obligations, for any payment made by Borrower with respect to the Secured Obligations in connection with this Agreement or otherwise and all rights that it might have to benefit from, or to participate in, any security for the Secured Obligations as a result of any payment made by Borrower with respect to the Secured Obligations in connection with this Agreement or otherwise. Any agreement providing for indemnification, reimbursement or any other arrangement prohibited under this Section 12.10 shall be null and void. If any payment is made to a Borrower in contravention of this Section 12.10Section, such Borrower shall hold such payment in trust for Collateral Agent and the Lenders Lender and such payment shall be promptly delivered to Collateral Agent Lender for application to the Secured Obligations, whether matured or unmatured.

Appears in 3 contracts

Samples: Loan and Security Agreement (Paratek Pharmaceuticals, Inc.), Loan and Security Agreement (Celator Pharmaceuticals Inc), Loan and Security Agreement (Cleveland Biolabs Inc)

Borrower Liability. Each Borrower mayIf any Person is joined to this Agreement as a Borrower, acting singly, request credit extensions hereunder. Each Borrower hereby appoints the other as agent for the other for all purposes hereunder, including with respect to requesting credit extensions hereunder. following provisions shall apply: Each Borrower hereunder shall be jointly and severally obligated to repay all credit extensions Loans made hereunder, regardless of which Bxxxxxxx Borrower actually receives said credit extensionLoan, as if each Borrower hereunder directly received all credit extensionsLoans. Each Borrower waives (a) any suretyship defenses available to it under the Code or any other applicable law, and (b) any right to require Collateral Agent or any Lender to: (i) proceed against any Borrower or any other person; (ii) proceed against or exhaust any security; or (iii) pursue any other remedy. Collateral Agent and/or any Lender may exercise or not exercise any right or remedy it has against any Borrower or any security it holds (including the right to foreclose by judicial or non-judicial sale) without affecting any Borrower’s liability. Notwithstanding any other provision of this Agreement or other related document, each Borrower irrevocably waives all rights that it may have at law or in equity (including, without limitation, any law subrogating Borrower to the rights of Collateral Agent and the Lenders under this Agreement) to seek contribution, indemnification or any other form of reimbursement from any other Borrower, or any other Person now or hereafter primarily or secondarily liable for any of the Obligations, for any payment made by such Borrower with respect to the Obligations in connection with this Agreement or otherwise and all rights that it might have to benefit from, or to participate in, any security for the Obligations as a result of any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise. Any agreement providing for indemnification, reimbursement or any other arrangement prohibited under this Section 12.10 shall be null and void. If any payment is made to a Borrower in contravention of this Section 12.10Section, such Borrower shall hold such payment in trust for Collateral Agent and the Lenders and such payment shall be promptly delivered to Collateral Agent Agent, for the ratable benefit of Lenders, for application to the Obligations, whether matured or unmatured.

Appears in 3 contracts

Samples: Loan and Security Agreement (Brilliant Earth Group, Inc.), Loan and Security Agreement (Porch Group, Inc.), Loan and Security Agreement (Colonnade Acquisition Corp.)

Borrower Liability. Each Any Borrower may, acting singly, request credit extensions Credit Extensions hereunder. Each Borrower hereby appoints the each other Borrower as agent for the other for all purposes hereunder, including with respect to requesting credit extensions Credit Extensions hereunder. Each Borrower hereunder shall be jointly and severally obligated to repay all credit extensions Credit Extensions made hereunder, regardless of which Bxxxxxxx Borrower actually receives said credit extensionCredit Extension, as if each Borrower hereunder directly received all credit extensionsCredit Extensions. Each Borrower waives (a) any suretyship defenses available to it under the Code or any other applicable law, including, without limitation, the benefit of California Civil Code Section 2815 permitting revocation as to future transactions and the benefit of California Civil Code Sections 1432, 2809, 2810, 2819, 2839, 2845, 2847, 2848, 2849, 2850, and 2899 and 3433, and (b) any right to require Collateral Agent or any Lender Bank to: (i) proceed against any Borrower or any other person; (ii) proceed against or exhaust any security; or (iii) pursue any other remedy. Collateral Agent and/or any Lender Bank may exercise or not exercise any right or remedy it has against any Borrower or any security it holds (including the right to foreclose by judicial or non-judicial sale) without affecting any Borrower’s liability. Notwithstanding any other provision of this Agreement or other related document, until all Obligations (other than inchoate indemnity obligations) have been paid in full, each Borrower irrevocably waives all rights that it may have at law or in equity (including, without limitation, any law subrogating Borrower to the rights of Collateral Agent and the Lenders Bank under this Agreement) to seek contribution, indemnification or any other form of reimbursement from any other Borrower, or any other Person now or hereafter primarily or secondarily liable for any of the Obligations, for any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise and all rights that it might have to benefit from, or to participate in, any security for the Obligations as a result of any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise. Any agreement providing for indemnification, reimbursement or any other arrangement prohibited under this Section 12.10 shall be null and void. If any payment is made to a Borrower in contravention of this Section 12.10Section, such Borrower shall hold such payment in trust for Collateral Agent and the Lenders Bank and such payment shall be promptly delivered to Collateral Agent Bank for application to the Obligations, whether matured or unmatured.

Appears in 3 contracts

Samples: Loan and Security Agreement, Loan and Security Agreement (RingCentral Inc), Loan and Security Agreement (RingCentral Inc)

Borrower Liability. Each If there is more than one entity comprising Borrower, then (a) any Borrower may, acting singly, request credit extensions Credit Extensions hereunder. Each , (b) each Borrower hereby appoints the other as agent for the other for all purposes hereunder, including with respect to requesting credit extensions Credit Extensions hereunder. Each , (c) each Borrower hereunder shall be jointly and severally obligated to pay and perform all obligations under the Financing Documents, including, but not limited to, the obligation to repay all credit extensions Credit Extensions made hereunderhereunder and all other Obligations, regardless of which Bxxxxxxx Borrower actually receives said credit extensionCredit Extensions, as if each Borrower hereunder directly received all credit extensions. Each Credit Extensions, and (d) each Borrower waives waives (a1) any suretyship defenses available to it under the Code or any other applicable law, and (b2) any right to require Collateral the Lenders or Agent or any Lender to: (iA) proceed against any Borrower or any other person; (iiB) proceed against or exhaust any security; or (iiiC) pursue any other remedy. Collateral The Lenders or Agent and/or any Lender may exercise or not exercise any right or remedy it has they have against any Borrower Credit Party or any security it holds (including the right to foreclose by judicial or non-judicial sale) without affecting any Borrowerother Credit Party’s liabilityliability or any Lien against any other Credit Party’s assets. Notwithstanding any other provision of this Agreement or other related document, until the indefeasible payment in cash in full of the Obligations (other than inchoate indemnity obligations for which no claim has yet been made) and termination of the Applicable Commitments, each Borrower irrevocably waives all rights that it may have at law or in equity (including, without limitation, any law subrogating Borrower to the rights of Collateral Agent and the Lenders and Agent under this Agreement) to seek contribution, indemnification or any other form of reimbursement from any other BorrowerCredit Party, or any other Person now or hereafter primarily or secondarily liable for any of the Obligations, for any payment made by Borrower any Credit Party with respect to the Obligations in connection with this Agreement or otherwise and all rights that it might have to benefit from, or to participate in, any security for the Obligations as a result of any payment made by Borrower a Credit Party with respect to the Obligations in connection with this Agreement or otherwise. Any agreement providing for indemnification, reimbursement or any other arrangement prohibited under this Section 12.10 shall be null and void. If any payment is made to a Borrower Credit Party in contravention of this Section 12.10Section, such Borrower Credit Party shall hold such payment in trust for Collateral Agent and the Lenders and Agent and such payment shall be promptly delivered to Collateral Agent for application to the Obligations, whether matured or unmatured.

Appears in 3 contracts

Samples: Credit and Security Agreement, Credit and Security Agreement (Sancilio Pharmaceuticals Company, Inc.), Credit and Security Agreement (Sarepta Therapeutics, Inc.)

Borrower Liability. Each Any Borrower may, acting singly, request credit extensions hereunder. Each Borrower hereby appoints the other as agent for the other itself for all purposes hereunder, including with respect to requesting credit extensions hereunder. Each Borrower hereunder shall be jointly and severally obligated to repay all Obligations, including, without limitation, all credit extensions made hereunder, regardless of which Bxxxxxxx Borrower actually receives said credit extensionextensions, as if each Borrower hereunder directly received all credit extensions. Each Borrower waives (a) any suretyship defenses available to it under the Code UCC or any other applicable law, and (b) any right to require Collateral Agent or any Lender to: (i) proceed against any Borrower or any other personPerson; (ii) proceed against or exhaust any security; or (iii) pursue any other remedy. Collateral Agent and/or any Lender may exercise or not exercise any right or remedy it has against any Borrower or any security it holds (including the right to foreclose by judicial or non-judicial sale) without affecting any Borrower’s liability. Notwithstanding any other provision of this Agreement or other related document, each Borrower irrevocably waives all rights that it may have at law or in equity (including, without limitation, any law subrogating Borrower to the rights of Collateral Agent and the Lenders Lender under this Agreement) to seek contribution, indemnification or any other form of reimbursement from any other Borrower, or any other Person now or hereafter primarily or secondarily liable for any of the Obligations, for any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise and all rights that it might have to benefit from, or to participate in, any security for the Obligations as a result of any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise. Any agreement providing for indemnification, reimbursement or any other arrangement prohibited under this Section 12.10 shall be null and void. If any payment is made to a Borrower in contravention of this Section 12.10Section, such Borrower shall hold such payment in trust for Collateral Agent and the Lenders Lender and such payment shall be promptly delivered to Collateral Agent Lender for application to the Obligations, whether matured or unmatured.

Appears in 2 contracts

Samples: Business Financing Agreement (Giga Tronics Inc), Business Financing Agreement (Inuvo, Inc.)

Borrower Liability. Each Either Borrower may, acting singly, request credit extensions Advances hereunder. Each Borrower hereby appoints the other as agent for the other for all purposes hereunder, including with respect to requesting credit extensions Advances hereunder. Each Borrower hereunder shall be jointly and severally obligated to repay all credit extensions Advances made hereunder, regardless of which Bxxxxxxx Borrower actually receives said credit extensionAdvance, as if each Borrower hereunder directly received all credit extensions. Each Borrower waives (a) any suretyship defenses available to it under the Code or any other applicable law, and (b) any right to require Collateral Agent or any Lender to: (i) proceed against any Borrower or any other person; (ii) proceed against or exhaust any security; or (iii) pursue any other remedy. Collateral Agent and/or any Lender may exercise or not exercise any right or remedy it has against any Borrower or any security it holds (including the right to foreclose by judicial or non-judicial sale) without affecting any Borrower’s liabilityALL Advances. Notwithstanding any other provision of this Agreement or other related document, each Borrower irrevocably waives all rights that it may have at law or in equity (including, without limitation, any law subrogating Borrower to the rights of Collateral Agent and the Lenders Bank under this Agreement) to seek contribution, indemnification or any other form of reimbursement from any other Borrower, or any other Person now or hereafter primarily or secondarily liable for any of the Obligations, for any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise and all rights that it might have to benefit from, or to participate in, any security for the Obligations as a result of any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise. Any agreement providing for indemnification, reimbursement or any other arrangement prohibited under this Section 12.10 shall be null and void. If any payment is made to a Borrower in contravention of this Section 12.10Section, such Borrower shall hold such payment in trust for Collateral Agent and the Lenders Bank and such payment shall be promptly delivered to Collateral Agent Bank for application to the Obligations, whether matured or unmatured.

Appears in 2 contracts

Samples: Loan and Security Agreement (GlobalOptions Group, Inc.), Loan and Security Agreement (I/Omagic Corp)

Borrower Liability. Each Borrower may, acting singly, request credit extensions Loans hereunder. Each Borrower hereby appoints the each other Borrower as agent for the other for all purposes hereunder, including with respect to requesting credit extensions Loans hereunder. Each Borrower hereunder shall be jointly and severally obligated to repay all credit extensions Loans made hereunder, regardless of which Bxxxxxxx Borrower actually receives said credit extensionLoans, as if each Borrower hereunder directly received all credit extensionsLoans. Each Borrower waives waives (a) any suretyship defenses available to it under the Code UCC or any other applicable law, and (b) any right to require Collateral Administrative Agent or any Lender to: (i) proceed against any Borrower or any other personPerson; (ii) proceed against or exhaust any security; or (iii) pursue any other remedy. Collateral Administrative Agent and/or any Lender may exercise or not exercise any right or remedy it has against any Borrower or any security it holds (including the right to foreclose by judicial or non-judicial sale) without affecting any Borrower’s liability. Notwithstanding any other provision of this Credit Agreement or other related document, each Borrower irrevocably waives all rights that it may have at law or in equity (including, without limitation, any law subrogating such Borrower to the rights of Collateral Administrative Agent and the Lenders and/or any Lender under this Credit Agreement) to seek contribution, indemnification or any other form of reimbursement from any other Borrower, or any other Person now or hereafter primarily or secondarily liable for any of the Obligations, for any payment made by such Borrower with respect to the Obligations in connection with this Credit Agreement or otherwise and all rights that it might have to benefit from, or to participate in, any security for the Obligations as a result of any payment made by such Borrower with respect to the Obligations in connection with this Credit Agreement or otherwise. Any agreement providing for indemnification, reimbursement or any other arrangement prohibited under this Section 12.10 11.19 shall be null and void. If any payment is made to a Borrower in contravention of this Section 12.10Section, such Borrower shall hold such payment in trust for Collateral Administrative Agent and the Lenders and such payment shall be promptly delivered to Collateral Agent Administrative Agent, for the benefit of the Lenders, for application to the Obligations, whether matured or unmatured.

Appears in 2 contracts

Samples: Revolving Credit and Security Agreement (Golub Capital BDC 3, Inc.), Revolving Credit and Security Agreement (Golub Capital BDC 3, Inc.)

Borrower Liability. Each Either Borrower may, acting singly, request credit extensions Credit Extensions hereunder. Each Borrower hereby appoints the other as agent for the other for all purposes hereunder, including with respect to requesting credit extensions Credit Extensions hereunder. Each Borrower hereunder shall be jointly and severally obligated to repay all credit extensions Credit Extensions made hereunder, regardless of which Bxxxxxxx Borrower actually receives said credit extensionCredit Extension, as if each Borrower hereunder directly received all credit extensionsCredit Extensions. Each Borrower waives (a) any suretyship defenses available to it under the Code or any other applicable law, and (b) any right to require Collateral Agent or any Lender to: (i) proceed against any Borrower or any other person; (ii) proceed against or exhaust any security; or (iii) pursue any other remedy. Collateral Agent and/or and or any Lender may exercise or not exercise any right or remedy it has against any Borrower or any security it holds (including the right to foreclose by judicial or non-judicial sale) without affecting any Borrower’s liability. Notwithstanding any other provision of this Agreement or other related document, until the Obligations have been indefeasibly paid in full in cash and all obligations of the Collateral Agent and/or Lenders to make loans or otherwise extend credit to Borrower have terminated, each Borrower irrevocably waives all rights that it may have at law or in equity (including, without limitation, any law subrogating Borrower to the rights of Collateral Agent and the Lenders under this Agreement) to seek contribution, indemnification or any other form of reimbursement from any other Borrower, or any other Person now or hereafter primarily or secondarily liable for any of the Obligations, for any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise and all rights that it might have to benefit from, or to participate in, any security for the Obligations as a result of any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise. Any agreement providing for indemnification, reimbursement or any other arrangement prohibited under this Section 12.10 shall be null and void. If any payment is made to a Borrower in contravention of this Section 12.10Section, such Borrower shall hold such payment in trust for Collateral Agent and the Lenders and such payment shall be promptly delivered to Collateral Agent for application to the Obligations, whether matured or unmatured.

Appears in 2 contracts

Samples: Loan and Security Agreement (Durata Therapeutics, Inc.), Loan and Security Agreement (Durata Therapeutics, Inc.)

Borrower Liability. Each Either Borrower may, acting singly, request credit extensions Advances hereunder. Each Borrower hereby appoints the other as agent for the other for all purposes hereunder, including with respect to requesting credit extensions Advances hereunder. Each Borrower hereunder shall be jointly and severally obligated to repay all credit extensions Advances made hereunder, regardless of which Bxxxxxxx Borrower actually receives said credit extensionAdvance, as if each Borrower hereunder directly received all credit extensions. Each Borrower waives (a) any suretyship defenses available to it under the Code or any other applicable law, and (b) any right to require Collateral Agent or any Lender to: (i) proceed against any Borrower or any other person; (ii) proceed against or exhaust any security; or (iii) pursue any other remedy. Collateral Agent and/or any Lender may exercise or not exercise any right or remedy it has against any Borrower or any security it holds (including the right to foreclose by judicial or non-judicial sale) without affecting any Borrower’s liabilityAdvances. Notwithstanding any other provision of this Agreement or other related document, each Borrower irrevocably waives all rights that it may have at law or in equity (including, without limitation, any law subrogating Borrower to the rights of Collateral Agent and the Lenders Bank under this Agreement) to seek contribution, indemnification or any other form of reimbursement from any other Borrower, or any other Person now or hereafter primarily or secondarily liable for any of the Obligations, for any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise and all rights that it might have to benefit from, or to participate in, any security for the Obligations as a result of any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise. Any agreement providing for indemnification, reimbursement or any other arrangement prohibited under this Section 12.10 shall be null and void. If any payment is made to a Borrower in contravention of this Section 12.10Section, such Borrower shall hold such payment in trust for Collateral Agent and the Lenders Bank and such payment shall be promptly delivered to Collateral Agent Bank for application to the Obligations, whether matured or unmatured. (a) proceed against any Borrower or any other person; (b) proceed against or exhaust any security; or (c) pursue any other remedy. Bank may exercise or not exercise any right or remedy it has against any Borrower or any security it holds (including the right to foreclose by judicial or non-judicial sale) without affecting any Borrower’s liability.

Appears in 2 contracts

Samples: Loan and Security Agreement (Microfluidics International Corp), Loan and Security Agreement (interCLICK, Inc.)

Borrower Liability. Each As detailed in Article 1, each Borrower may, acting singly, request credit extensions hereunder. Each has appointed Caliper as Agent for each Borrower hereby appoints the other as agent for the other for all purposes hereunder, including with respect to requesting credit extensions Credit Extensions hereunder. Each Borrower hereunder shall be jointly and severally obligated to repay all credit extensions Credit Extensions made hereunder, regardless of which Bxxxxxxx Borrower actually receives said credit extensionCredit Extension, as if each Borrower hereunder directly received all credit extensionsCredit Extensions. Each Borrower waives (a) waives any suretyship defenses available to it under the Code or any other applicable law, and (b) . Each Borrower waives any right to require Collateral Agent or any Lender Bank to: (i) proceed against any Borrower or any other person; (ii) proceed against or exhaust any security; or (iii) pursue any other remedy. Collateral Agent and/or any Lender Bank may exercise or not exercise any right or remedy it has against any Borrower or any security it holds (including the right to foreclose by judicial or non-judicial sale) without affecting any Borrower’s liability. Notwithstanding any other provision of this Agreement or other related document, each Borrower irrevocably waives all rights that it may have at law or in equity (including, without limitation, any law subrogating Borrower to the rights of Collateral Agent and the Lenders Bank under this Agreement) to seek contribution, indemnification or any other form of reimbursement from any other Borrower, or any other Person now or hereafter primarily or secondarily liable for any of the Obligations, for any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise and all rights that it might have to benefit from, or to participate in, any security for the Obligations as a result of any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise. Any agreement providing for indemnification, reimbursement or any other arrangement prohibited under this Section 12.10 shall be null and void. If any payment is made to a Borrower in contravention of this Section 12.10Section, such Borrower shall hold such payment in trust for Collateral Agent and the Lenders Bank and such payment shall be promptly delivered to Collateral Agent Bank for application to the Obligations, whether matured or unmatured.

Appears in 2 contracts

Samples: Loan and Security Agreement (Caliper Life Sciences Inc), Loan and Security Agreement (Caliper Life Sciences Inc)

Borrower Liability. Each Either Borrower may, acting singly, request credit extensions Credit Extensions hereunder. Each Borrower hereby appoints the other as agent for the other for all purposes hereunder, including with respect to requesting credit extensions Credit Extensions hereunder. Each Borrower hereunder shall be jointly and severally obligated to repay all credit extensions Credit Extensions made hereunder, regardless of which Bxxxxxxx Borrower actually receives said credit extensionCredit Extension, as if each Borrower hereunder directly received all credit extensionsCredit Extensions. Each Borrower waives waives (a) any suretyship defenses available to it under the Code or any other applicable law, including, without limitation, the benefit of California Civil Code Section 2815 permitting revocation as to future transactions and the benefit of California Civil Code Sections 1432, 2809, 2810, 2819, 2839, 2845, 2847, 2848, 2849, 2850, and 2899 and 3433, and (b) any right to require Collateral Agent or any Lender to: (i) proceed against any Borrower or any other person; (ii) proceed against or exhaust any security; or (iii) pursue any other remedy. Collateral Agent and/or and or any Lender may exercise or not exercise any right or remedy it has against any Borrower or any security it holds (including the right to foreclose by judicial or non-judicial sale) without affecting any Borrower’s liability. Notwithstanding any other provision of this Agreement or other related document, each Borrower irrevocably waives all rights that it may have at law or in equity (including, without limitation, any law subrogating Borrower to the rights of Collateral Agent and the Lenders under this Agreement) to seek contribution, indemnification or any other form of reimbursement from any other Borrower, or any other Person now or hereafter primarily or secondarily liable for any of the Obligations, for any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise and all rights that it might have to benefit from, or to participate in, any security for the Obligations as a result of any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise. Any agreement providing for indemnification, reimbursement or any other arrangement prohibited under this Section 12.10 shall be null and void. If any payment is made to a Borrower in contravention of this Section 12.10Section, such Borrower shall hold such payment in trust for Collateral Agent and the Lenders and such payment shall be promptly delivered to Collateral Agent for application to the Obligations, whether matured or unmatured.

Appears in 2 contracts

Samples: Loan and Security Agreement (89bio, Inc.), Loan and Security Agreement (Trovagene, Inc.)

Borrower Liability. Each Borrower may, acting singly, request credit extensions hereunder. Each Borrower hereby appoints the other as agent for the other for all purposes hereunder, including with respect to requesting credit extensions hereunder. Each Borrower hereunder shall be jointly and severally obligated to repay all credit extensions made hereunder, regardless of which Bxxxxxxx Xxxxxxxx actually receives said credit extension, as if each Borrower hereunder directly received all credit extensions. Each Borrower waives (a) any suretyship defenses available to it under the Code or any other applicable law, and (b) any right to require Collateral Agent or any Lender to: (i) proceed against any Borrower or any other person; (ii) proceed against or exhaust any security; or (iii) pursue any other remedy. Collateral Agent and/or any Lender may exercise or not exercise any right or remedy it has against any Borrower or any security it holds (including the right to foreclose by judicial or non-judicial sale) without affecting any Borrower’s liability. Notwithstanding any other provision of this Agreement or other related document, each Borrower irrevocably waives all rights that it may have at law or in equity (including, without limitation, any law subrogating Borrower to the rights of Collateral Agent and the Lenders under this Agreement) to seek contribution, indemnification or any other form of reimbursement from any other Borrower, or any other Person now or hereafter primarily or secondarily liable for any of the Obligations, for any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise and all rights that it might have to benefit from, or to participate in, any security for the Obligations as a result of any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise. Any agreement providing for indemnification, reimbursement or any other arrangement prohibited under this Section 12.10 shall be null and void. If any payment is made to a Borrower in contravention of this Section 12.10, such Borrower shall hold such payment in trust for Collateral Agent and the Lenders and such payment shall be promptly delivered to Collateral Agent for application to the Obligations, whether matured or unmatured.

Appears in 2 contracts

Samples: Business Loan and Security Agreement (Super League Enterprise, Inc.), Business Loan and Security Agreement (Super League Enterprise, Inc.)

Borrower Liability. Each Either Borrower may, acting singly, request credit extensions Credit Extensions hereunder. Each Borrower hereby appoints the other as agent for the other for all purposes hereunder, including with respect to requesting credit extensions Credit Extensions hereunder. Each Borrower hereunder shall be jointly and severally obligated to repay all credit extensions Credit Extensions made hereunder, regardless of which Bxxxxxxx Borrower actually receives said credit extensionCredit Extension, as if each Borrower hereunder directly received all credit extensionsCredit Extensions. Each Borrower waives (a) any suretyship defenses available to it under the Code or any other applicable lawlaw (other than the defense of payment or performance of the obligations), including, without limitation, the benefit of California Civil Code Section 2815 permitting revocation as to future transactions and the benefit of California Civil Code Sections 1432, 2809, 2810, 2819, 2839, 2845, 2847, 2848, 2849, 2850, and 2899 and 3433, and (b) any right to require Collateral Agent or any Lender to: (i) proceed against any Borrower or any other person; (ii) proceed against or exhaust any security; or (iii) pursue any other remedy. Collateral Agent and/or and or any Lender may exercise or not exercise any right or remedy it has against any Borrower or any security it holds (including the right to foreclose by judicial or non-judicial non‑judicial sale) without affecting any Borrower’s liability. Notwithstanding any other provision of this Agreement or other related document, until the Obligations have been indefeasibly paid in full and at such time as each Lender’s obligation to make Credit Extensions has terminated, each Borrower irrevocably waives all rights that it may have at law or in equity (including, without limitation, any law subrogating Borrower to the rights of Collateral Agent and the Lenders under this Agreement) to seek contribution, indemnification or any other form of reimbursement from any other Borrower, or any other Person now or hereafter primarily or secondarily liable for any of the Obligations, for any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise and all rights that it might have to benefit from, or to participate in, any security for the Obligations as a result of any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise. Any agreement providing for indemnification, reimbursement or any other arrangement prohibited under this Section 12.10 shall be null and void. If any payment is made to a Borrower in contravention of this Section 12.10Section, such Borrower shall hold such payment in trust for Collateral Agent and the Lenders and such payment shall be promptly delivered to Collateral Agent for application to the Obligations, whether matured or unmatured.

Appears in 2 contracts

Samples: Loan and Security Agreement (Miramar Labs, Inc.), Loan and Security Agreement (Miramar Labs, Inc.)

Borrower Liability. Each Borrower may, acting singly, request credit extensions hereunder. Each Borrower hereby appoints the other as agent for the other for all purposes hereunder, including with respect to requesting credit extensions hereunder. Each Borrower hereunder shall be jointly and severally obligated to repay all credit extensions made hereunder, regardless of which Bxxxxxxx Xxxxxxxx actually receives said credit extension, as if each Borrower hereunder directly received all credit extensions. Each Borrower waives (a) any suretyship defenses available to it under the Code or any other applicable law, and (b) any right to require Collateral Agent or any Lender to: (i) proceed against any Borrower or any other person; (ii) proceed against or exhaust any security; or (iii) pursue any other remedy. Collateral Agent and/or any Lender may exercise or not exercise any right or remedy it has against any Borrower or any security it holds (including the right to foreclose by judicial or non-judicial sale) without affecting any Borrower’s liability. Notwithstanding any other provision of this Agreement or other related document, until the Obligations (other than inchoate indemnity obligations) are paid in full, each Borrower irrevocably waives all rights that it may have at law or in equity (including, without limitation, any law subrogating Borrower to the rights of Collateral Agent and the Lenders under this Agreement) to seek contribution, indemnification or any other form of reimbursement from any other Borrower, or any other Person now or hereafter primarily or secondarily liable for any of the Obligations, for any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise and all rights that it might have to benefit from, or to participate in, any security for the Obligations as a result of any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise. Any agreement providing for indemnification, reimbursement or any other arrangement prohibited under this Section 12.10 shall be null and void. If any payment is made to a Borrower in contravention of this Section 12.10, such Borrower shall hold such payment in trust for Collateral Agent and the Lenders and such payment shall be promptly delivered to Collateral Agent for application to the Obligations, whether matured or unmatured.

Appears in 2 contracts

Samples: Subordinated Business Loan Agreement (Energous Corp), Subordinated Business Loan Agreement (Energous Corp)

Borrower Liability. Each Either Borrower may, acting singly, request credit extensions Credit Extensions hereunder. Each Borrower hereby appoints the other as agent for the other for all purposes hereunder, including with respect to requesting credit extensions E Credit Extensions hereunder. Each Borrower hereunder shall be jointly and severally obligated to repay all credit extensions Credit Extensions made hereunder, regardless of which Bxxxxxxx Borrower actually receives said credit extensionany Credit Extension, as if each Borrower hereunder directly received all credit extensionsCredit Extensions. Each Borrower waives (a) any suretyship defenses defences available to it under the Code or any other applicable law, law and (b) any right to require Collateral Agent or any Lender Bank to: (i) proceed against any Borrower or any other person; (ii) proceed against or exhaust any security; or (iii) pursue any other remedy. Collateral Agent and/or any Lender Bank may exercise or not exercise any right or remedy it has against any Borrower or any security it holds (including the right to foreclose or realise its security by judicial or non-judicial sale) without affecting any Borrower’s liability. Notwithstanding any other provision of this Agreement or other related document, each Borrower irrevocably waives all rights that it may have at law or in equity (including, without limitation, any law subrogating Borrower to the rights of Collateral Agent and the Lenders Bank under this Agreement) to seek contribution, indemnification or any other form of reimbursement from any other Borrower, or any other Person now or hereafter primarily or secondarily liable for any of the Obligations, for any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise and all rights that it might have to benefit from, or to participate in, any security for the Obligations as a result of any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise. Any agreement providing for indemnification, reimbursement or any other arrangement prohibited under this Section 12.10 Clause shall be null and void. If any payment is made to a Borrower in contravention of this Section 12.10Clause, such Borrower shall hold such payment in trust for Collateral Agent and the Lenders Bank and such payment shall be promptly delivered to Collateral Agent Bank for application to the Obligations, whether matured or unmatured.

Appears in 2 contracts

Samples: Loan Agreement, Loan Agreement (Mimecast LTD)

Borrower Liability. Each Borrower may, acting singly, request credit extensions Credit Extensions hereunder. Each Borrower hereby appoints the other as agent for the other for all purposes hereunder, including with respect to requesting credit extensions Credit Extensions hereunder. Each Borrower hereunder shall be jointly and severally obligated to repay all credit extensions Credit Extensions made hereunder, regardless of which Bxxxxxxx Borrower actually receives said credit extensionCredit Extension, as if each Borrower hereunder directly received all credit extensionsCredit Extensions. Each Borrower waives (a) any suretyship defenses available to it under the Code or any other applicable law, and (b) any right to require Collateral Agent or any Lender Bank to: (i) proceed against any Borrower or any other person; (ii) proceed against or exhaust any security; or (iii) pursue any other remedy. Collateral Agent and/or any Lender Bank may exercise or not exercise any right or remedy it has against any Borrower or any security it holds (including the right to foreclose by judicial or non-judicial sale) without affecting any Borrower’s liability. Notwithstanding any other provision of this Agreement or other related document, each Borrower irrevocably waives all rights that it may have at law or in equity (including, without limitation, any law subrogating Borrower to the rights of Collateral Agent and the Lenders Bank under this Agreement) to seek contribution, indemnification or any other form of reimbursement from any other Borrower, or any other Person now or hereafter primarily or secondarily liable for any of the Obligations, for any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise and all rights that it might have to benefit from, or to participate in, any security for the Obligations as a result of any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise. Any agreement providing for indemnification, reimbursement or any other arrangement prohibited under this Section 12.10 shall be null and void. If any payment is made to a Borrower in contravention of this Section 12.10Section, such Borrower shall hold such payment in trust for Collateral Agent and the Lenders Bank and such payment shall be promptly delivered to Collateral Agent Bank for application to the Obligations, whether matured or unmatured.” • Section 13 (Definitions). The following term and its definition set forth in Section 13.1 is amended in its entirety and replaced with the following: “ “Borrower” means, individually and collectively, jointly and severally Health Catalyst and Medicity.” • Exhibit B (Compliance Certificate). The Compliance Certificate is amended in its entirety and replaced with the Compliance Certificate in the form attached hereto as Schedule 1. • Exhibit C (Loan Payment/Advance Request Form). The Loan Payment/Advance Request Form is amended in its entirety and replaced with the Loan Payment/Advance Request Form attached hereto as Schedule 2. • Limitation of Amendments. • The amendments set forth in Section 7 above are effective for the purposes set forth herein and shall be limited precisely as written and shall not be deemed to (a) be a consent to any amendment, waiver or modification of any other term or condition of any Loan Document, or (b) otherwise prejudice any right or remedy which Bank may now have or may have in the future under or in connection with any Loan Document. • This Amendment shall be construed in connection with and as part of the Loan Documents and all terms, conditions, representations, warranties, covenants and agreements set forth in the Loan Documents, except as herein amended, are hereby ratified and confirmed and shall remain in full force and effect.

Appears in 2 contracts

Samples: Mezzanine Loan and Security Agreement (Health Catalyst, Inc.), Mezzanine Loan and Security Agreement (Health Catalyst, Inc.)

Borrower Liability. Each Either Borrower may, acting singly, request credit extensions Credit Extensions hereunder. Each Borrower hereby appoints the other as agent for the other for all purposes hereunder, including with respect to requesting credit extensions Credit Extensions hereunder. Each Borrower hereunder shall be jointly and severally obligated to repay all credit extensions Credit Extensions made hereunder, regardless of which Bxxxxxxx Borrower actually receives said credit extensionCredit Extension, as if each Borrower hereunder directly received all credit extensionsCredit Extensions. Each Borrower waives (a) any suretyship defenses available to it under the Code or any other applicable law, and (b) any right to require Collateral Agent or any Lender to: (i) proceed against any Borrower or any other person; (ii) proceed against or exhaust any security; or (iii) pursue any other remedy. Collateral Agent and/or and or any Lender may exercise or not exercise any right or remedy it has against any Borrower or any security it holds (including the right to foreclose by judicial or non-judicial sale) without affecting any Borrower’s liability. Notwithstanding any other provision of this Agreement or other related document, each Borrower irrevocably waives waives, until the repayment in full, in cash, of the Obligations, all rights that it may have at law or in equity (including, without limitation, any law subrogating Borrower to the rights of Collateral Agent and the Lenders under this Agreement) to seek contribution, indemnification or any other form of reimbursement from any other Borrower, or any other Person now or hereafter primarily or secondarily liable for any of the Obligations, for any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise and all rights that it might have to benefit from, or to participate in, any security for the Obligations as a result of any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise. Any agreement providing for indemnification, reimbursement or any other arrangement prohibited under this Section 12.10 shall be null and void. If any payment is made to a Borrower in contravention of this Section 12.10Section, such Borrower shall hold such payment in trust for Collateral Agent and the Lenders and such payment shall be promptly delivered to Collateral Agent for application to the Obligations, whether matured or unmatured.

Appears in 2 contracts

Samples: Loan and Security Agreement, Loan and Security Agreement (ConforMIS Inc)

Borrower Liability. Each If there is more than one entity comprising Borrower, then (a) any Borrower may, acting singly, request credit extensions Credit Extensions hereunder. Each , (b) each Borrower hereby appoints the other as agent for the other for all purposes hereunder, including with respect to requesting credit extensions Credit Extensions hereunder. Each , (c) each Borrower hereunder shall be jointly and severally obligated to pay and perform all obligations under the Loan Documents, including, but not limited to, the obligation repay all credit extensions Credit Extensions made hereunderhereunder and all other Obligations, regardless of which Bxxxxxxx Borrower actually receives said credit extensionCredit Extensions, as if each Borrower hereunder directly received all credit extensions. Each Credit Extensions, (d) each Borrower waives (a) waives any suretyship defenses available to it under the Code or any other applicable law, and (b2) any right to require Collateral the Lenders or Agent or any Lender to: (iA) proceed against any Borrower or any other person; (iiB) proceed against or exhaust any security; or (iiiC) pursue any other remedy. Collateral The Lenders or Agent and/or any Lender may exercise or not exercise any right or remedy it has they have against any Borrower Credit Party or any security it holds (including the right to foreclose by judicial or non-judicial sale) without affecting any Borrowerother Credit Party’s liabilityliability or any Lien against any other Credit Party’s assets. Notwithstanding any other provision of this Agreement or other related document, until payment in full of the Obligations and termination of the Applicable Commitments, each Borrower irrevocably waives all rights that it may have at law or in equity (including, without limitation, any law subrogating Borrower to the rights of Collateral Agent and the Lenders and Agent under this Agreement) to seek contribution, indemnification or any other form of reimbursement from any other BorrowerCredit Party, or any other Person now or hereafter primarily or secondarily liable for any of the Obligations, for any payment made by Borrower any Credit Party with respect to the Obligations in connection with this Agreement or otherwise and all rights that it might have to benefit from, or to participate in, any security for the Obligations as a result of any payment made by Borrower a Credit Party with respect to the Obligations in connection with this Agreement or otherwise. Any agreement providing for indemnification, reimbursement or any other arrangement prohibited under this Section 12.10 shall be null and void. If any payment is made to a Borrower Credit Party in contravention of this Section 12.10Section, such Borrower Credit Party shall hold such payment in trust for Collateral Agent and the Lenders and Agent and such payment shall be promptly delivered to Collateral Agent for application to the Obligations, whether matured or unmatured.

Appears in 2 contracts

Samples: Credit and Security Agreement (Flexion Therapeutics Inc), Credit and Security Agreement (Flexion Therapeutics Inc)

Borrower Liability. Each Either Borrower may, acting singly, request credit extensions Credit Extensions hereunder. Each Borrower hereby appoints the other as agent for the other for all purposes hereunder, including with respect to requesting credit extensions Credit Extensions hereunder. Each Borrower hereunder shall be jointly and severally obligated to repay all credit extensions Credit Extensions made hereunder, regardless of which Bxxxxxxx Borrower actually receives said credit extensionCredit Extension, as if each Borrower hereunder directly received all credit extensionsCredit Extensions. Each Borrower waives (a) waives any suretyship defenses available to it under the Code or any other applicable law, and (b) . Each Borrower waives any right to require Collateral Agent or any Lender Bank to: (i) proceed against any Borrower or any other person; (ii) proceed against or exhaust any security; or (iii) pursue any other remedy. Collateral Agent and/or any Lender Bank may exercise or not exercise any right or remedy it has against any Borrower or any security it holds (including the right to foreclose by judicial or non-judicial sale) without affecting any Borrower’s liability. Notwithstanding any other provision of this Agreement or other related document, each Borrower irrevocably waives all rights that it may have at law or in equity (including, without limitation, any law subrogating Borrower to the rights of Collateral Agent and the Lenders Bank under this Agreement) to seek contribution, indemnification or any other form of reimbursement from any other Borrower, or any other Person now or hereafter primarily or secondarily liable for any of the Obligations, for any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise and all rights that it might have to benefit from, or to participate in, any security for the Obligations as a result of any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise. Any agreement providing for indemnification, reimbursement or any other arrangement prohibited under this Section 12.10 12.11 shall be null and void. If any payment is made to a Borrower in contravention of this Section 12.10Section, such Borrower shall hold such payment in trust for Collateral Agent and the Lenders Bank and such payment shall be promptly delivered to Collateral Agent Bank for application to the Obligations, whether matured or unmatured.

Appears in 2 contracts

Samples: Loan and Security Agreement (Eloqua, Inc.), Loan and Security Agreement (Eloqua, Inc.)

Borrower Liability. Each To the extent that there is more than one Borrower, any Borrower may, acting singly, request credit extensions Term Loans hereunder. Each Borrower hereby appoints the other as agent for the other for all purposes hereunder, including with respect to requesting credit extensions Term Loans hereunder. Each Borrower hereunder shall be jointly and severally obligated to repay all credit extensions Term Loans made hereunderhereunder and all other Obligations, regardless of which Bxxxxxxx Borrower actually receives said credit extensionTerm Loans, as if each Borrower hereunder directly received all credit extensionsTerm Loans. Each Borrower waives waives (a) any suretyship defenses available to it under the Code or any other applicable law, and (b) any right to require Collateral the Lenders or Agent or any Lender to: (i) proceed against any Borrower or any other person; (ii) proceed against or exhaust any security; or (iii) pursue any other remedy. Collateral The Lenders or Agent and/or any Lender may exercise or not exercise any right or remedy it has they have against any Borrower or any security it holds (including the right to foreclose by judicial or non-judicial sale) without affecting any Borrower’s liability. Notwithstanding any other provision of this Agreement or other related document, each Borrower irrevocably waives all rights that it may have at law or in equity (including, without limitation, any law subrogating Borrower to the rights of Collateral Agent and the Lenders and Agent under this Agreement) to seek contribution, indemnification or any other form of reimbursement from any other Borrower, or any other Person now or hereafter primarily or secondarily liable for any of the Obligations, for any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise and all rights that it might have to benefit from, or to participate in, any security for the Obligations as a result of any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise. Any agreement providing for indemnification, reimbursement or any other arrangement prohibited under this Section 12.10 shall be null and void. If any payment is made to a Borrower in contravention of this Section 12.10Section, such Borrower shall hold such payment in trust for Collateral Agent and the Lenders and Agent and such payment shall be promptly delivered to Collateral Agent for application to the Obligations, whether matured or unmatured.

Appears in 2 contracts

Samples: Loan and Security Agreement (Regado Biosciences Inc), Loan and Security Agreement (Regado Biosciences Inc)

Borrower Liability. Each Borrower may, acting singly, request credit extensions Loans hereunder. Each Borrower hereby appoints the each other Borrower as agent for the other for all purposes hereunder, including with respect to requesting credit extensions Loans hereunder. Each Borrower hereunder shall be jointly and severally obligated to repay all credit extensions Loans made hereunder, regardless of which Bxxxxxxx Borrower actually receives said credit extensionLoans, as if each Borrower hereunder directly received all credit extensionsLoans. Each Borrower waives waives (a) any suretyship defenses available to it under the Code UCC or any other applicable law, and (b) any right to require Collateral Administrative Agent or any Lender to: (i) proceed against any Borrower or any other personPerson; (ii) proceed against or exhaust any security; or (iii) pursue any other remedy. Collateral Administrative Agent and/or any Lender may exercise or not exercise any right or remedy it has against any Borrower or any security it holds (including the right to foreclose by judicial or non-judicial sale) without affecting any Borrower’s liability. Notwithstanding any other provision of this Credit Agreement or other related document, each Borrower irrevocably waives all rights that it may have at law or in equity (including, without limitation, including any law subrogating such Borrower to the rights of Collateral Administrative Agent and the Lenders and/or any Lender under this Credit Agreement) to seek contribution, indemnification or any other form of reimbursement from any other Borrower, or any other Person now or hereafter primarily or secondarily liable for any of the Obligations, for any payment made by such Borrower with respect to the Obligations in connection with this Credit Agreement or otherwise and all rights that it might have to benefit from, or to participate in, any security for the Obligations as a result of any payment made by such Borrower with respect to the Obligations in connection with this Credit Agreement or otherwise. Any agreement providing for indemnification, reimbursement or any other arrangement prohibited under this Section 12.10 11.19 shall be null and void. If any payment is made to a Borrower in contravention of this Section 12.10Section, such Borrower shall hold such payment in trust for Collateral Administrative Agent and the Lenders and such payment shall be promptly delivered to Collateral Agent Administrative Agent, for the benefit of the Secured Parties, for application to the Obligations, whether matured or unmatured.

Appears in 2 contracts

Samples: Revolving Credit and Security Agreement (Golub Capital Direct Lending Corp), Revolving Credit and Security Agreement (Golub Capital Direct Lending Corp)

Borrower Liability. Each Either Borrower may, acting singly, request credit extensions Advances hereunder. Each Borrower hereby appoints the other as agent for the other for all purposes hereunder, including with respect to requesting credit extensions Advances/Credit Extensions hereunder. Each Borrower hereunder shall be jointly and severally obligated to repay all credit extensions Advances/Credit Extensions made hereunder, regardless of which Bxxxxxxx Borrower actually receives said credit extensionAdvance/Credit Extension, as if each Borrower hereunder directly received all credit extensionsAdvances/Credit Extensions. Each Borrower waives waives (a) any suretyship defenses available to it under the Code or any other applicable law, including, without limitation, the benefit of California Civil Code Section 2815 permitting revocation as to future transactions and the benefit of California Civil Code Sections 1432, 2809, 2810, 2819, 2839, 2845, 2847, 2848, 2849, 2850, and 2899 and 3433, and (b) any right to require Collateral Agent or any Lender to: (i) proceed against any Borrower or any other person; (ii) proceed against or exhaust any security; or (iii) pursue any other remedy. Collateral Agent and/or any Lender may exercise or not exercise any right or remedy it has against any Borrower or any security it holds (including the right to foreclose by judicial or non-judicial sale) without affecting any Borrower’s liability. Notwithstanding any other provision of this Agreement or other related document, each Borrower irrevocably waives all rights that it may have at law or in equity (including, without limitation, any law subrogating Borrower to the rights of Collateral Agent and the Lenders Lender under this Agreement) to seek contribution, indemnification or any other form of reimbursement from any other Borrower, or any other Person now or hereafter primarily or secondarily liable for any of the Obligations, for any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise and all rights that it might have to benefit from, or to participate in, any security for the Obligations as a result of any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise. Any agreement providing for indemnification, reimbursement or any other arrangement prohibited under this Section 12.10 shall be null and void. If any payment is made to a Borrower in contravention of this Section 12.10Section, such Borrower shall hold such payment in trust for Collateral Agent and the Lenders Lender and such payment shall be promptly delivered to Collateral Agent Lender for application to the Obligations, whether matured or unmatured.

Appears in 2 contracts

Samples: Loan and Security Agreement (Channeladvisor Corp), Loan and Security Agreement (Channeladvisor Corp)

Borrower Liability. Each Either Borrower may, acting singly, request credit extensions Credit Extensions hereunder. Each Borrower hereby appoints the other as agent for the other for all purposes hereunder, including with respect to requesting credit extensions Credit Extensions hereunder. Each Borrower hereunder shall be jointly and severally obligated to repay all credit extensions Credit Extensions made hereunder, regardless of which Bxxxxxxx Borrower actually receives said credit extensionAdvance, as if each Borrower hereunder directly received all credit extensionsCredit Extensions. Each Borrower waives (a) waives any suretyship defenses available to it under the Code or any other applicable law, and (b) . Each Borrower waives any right to require Collateral Agent or any Lender Bank to: (i) proceed against any Borrower or any other person; (ii) proceed against or exhaust any security; or (iii) pursue any other remedy. Collateral Agent and/or any Lender Bank may exercise or not exercise any right or remedy it has against any Borrower or any security it holds (including the right to foreclose by judicial or non-judicial sale) without affecting any Borrower’s liability. Notwithstanding any other provision of this Agreement or any other related document, each Borrower irrevocably waives all rights that it may have at law or in equity (including, without limitation, any law subrogating Borrower to the rights of Collateral Agent and the Lenders Bank under this Agreement) to seek contribution, indemnification or any other form of reimbursement from any other Borrower, or any other Person now or hereafter primarily or secondarily liable for any of the Obligations, for any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise and all rights that it might have to benefit from, or to participate in, any security for the Obligations as a result of any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise. Any agreement providing for indemnification, reimbursement or any other arrangement prohibited under this Section 12.10 shall be null and void. If any payment is made to a Borrower in contravention of this Section 12.1012.12, such Borrower shall hold such payment in trust for Collateral Agent and the Lenders Bank and such payment shall be promptly delivered to Collateral Agent Bank for application to the Obligations, whether matured or unmatured.

Appears in 2 contracts

Samples: Loan and Security Agreement (Stereotaxis, Inc.), Loan and Security Agreement (Stereotaxis, Inc.)

Borrower Liability. Each If more than one (1) Borrower is party to this Agreement then the following Section 9.8 shall apply. Either Borrower may, acting singly, request credit extensions Term Loans hereunder. Each Borrower hereby appoints the other as agent for the other for all purposes hereunder, including with respect to requesting credit extensions Term Loans hereunder. Each Borrower hereunder shall be jointly and severally obligated to repay all credit extensions Term Loans made hereunderhereunder and all other Obligations, regardless of which Bxxxxxxx Borrower actually receives said credit extensionTerm Loans, as if each Borrower hereunder directly received all credit extensionsTerm Loans. Each Borrower waives waives (a) any suretyship defenses available to it under the Code or any other applicable lawLaw, and (b) any right to require Collateral the Lenders or Agent or any Lender to: (i) proceed against any Borrower or any other person; (ii) proceed against or exhaust any security; or (iii) pursue any other remedy. Collateral The Lenders or Agent and/or any Lender may exercise or not exercise any right or remedy it has they have against any Borrower or any security it holds (including the right to foreclose by judicial or non-judicial sale) without affecting any Borrower’s liability. Notwithstanding any other provision of this Agreement or other related document, each Borrower irrevocably waives all rights that it may have at law Law or in equity (including, without limitation, any law Law subrogating Borrower to the rights of Collateral Agent and the Lenders and Agent under this Agreement) to seek contribution, indemnification or any other form of reimbursement from any other Borrower, or any other Person now or hereafter primarily or secondarily liable for any of the Obligations, for any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise and all rights that it might have to benefit from, or to participate in, any security for the Obligations as a result of any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise. Any agreement providing for indemnification, reimbursement or any other arrangement prohibited under this Section 12.10 shall be null and void. If any payment is made to a Borrower in contravention of this Section 12.10Section, such Borrower shall hold such payment in trust for Collateral Agent and the Lenders and Agent and such payment shall be promptly delivered to Collateral Agent for application to the Obligations, whether matured or unmatured.

Appears in 2 contracts

Samples: Loan and Security Agreement (TRIA Beauty, Inc.), Loan and Security Agreement (TRIA Beauty, Inc.)

Borrower Liability. Each Either Borrower may, acting singly, request credit extensions Advances hereunder. Each Borrower hereby appoints the other as agent for the other for all purposes hereunder, including with respect to requesting credit extensions Advances hereunder. Each Borrower hereunder shall be jointly and severally obligated to repay all credit extensions Advances made hereunder, regardless of which Bxxxxxxx Borrower actually receives said credit extensionAdvance, as if each Borrower hereunder directly received all credit extensionsAdvances. Each Borrower waives waives (a) any suretyship defenses available to it under the Code or any other applicable law, including, without limitation, the benefit of California Civil Code Section 2815 permitting revocation as to future transactions and the benefit of California Civil Code Sections 1432, 2809, 2810, 2819, 2839, 2845, 2847, 2848, 2849, 2850, and 2899 and 3433, and (b) any right to require Collateral Agent or any Lender Bank to: (i) proceed against any Borrower or any other person; (ii) proceed against or exhaust any security; or (iii) pursue any other remedy. Collateral Agent and/or any Lender Bank may exercise or not exercise any right or remedy it has against any Borrower or any security it holds (including the right to foreclose by judicial or non-judicial sale) without affecting any Borrower’s liability. Notwithstanding any other provision of this Agreement or other related document, each Borrower irrevocably waives all rights that it may have at law or in equity (including, without limitation, any law subrogating Borrower to the rights of Collateral Agent and the Lenders Bank under this Agreement) to seek contribution, indemnification or any other form of reimbursement from any other Borrower, or any other Person now or hereafter primarily or secondarily liable for any of the Obligations, for any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise and all rights that it might have to benefit from, or to participate in, any security for the Obligations as a result of any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwiseotherwise until all obligations have been paid in full. Any agreement providing for indemnification, reimbursement or any other arrangement prohibited under this Section 12.10 shall be null and void. If any payment is made to a Borrower in contravention of this Section 12.10Section, such Borrower shall hold such payment in trust for Collateral Agent and the Lenders Bank and such payment shall be promptly delivered to Collateral Agent Bank for application to the Obligations, whether matured or unmatured.

Appears in 2 contracts

Samples: Loan and Security Agreement (Sajan Inc), Loan and Security Agreement (Sajan Inc)

Borrower Liability. Each Either Borrower may, acting singly, request credit extensions Advances hereunder. Each Borrower hereby appoints the other as agent for the other for all purposes hereunder, including with respect to requesting credit extensions Advances hereunder. Each Borrower hereunder shall be obligated, jointly and severally obligated severally, to repay all credit extensions Advances made hereunder, regardless of which Bxxxxxxx Borrower actually receives said credit extensionAdvance, as if each Borrower hereunder directly received all credit extensionsAdvances. Each Borrower waives (a) waives any suretyship defenses available to it under the Code or any other applicable law, and (b) . Each Borrower waives any right to require Collateral Agent or any Lender Bank to: (i) proceed against any Borrower or any other person; (ii) proceed against or exhaust any security; or (iii) pursue any other remedy. Collateral Agent and/or any Lender Bank may exercise or not exercise any right or remedy it has against any Borrower or any security it holds (including the right to foreclose by judicial or non-judicial sale) without affecting any Borrower’s liability. Notwithstanding any other provision of this Agreement or other related document, each Borrower irrevocably waives all rights that it may have at law or in equity (including, without limitation, any law subrogating Borrower to the rights of Collateral Agent and the Lenders Bank under this Agreement) to seek contribution, indemnification or any other form of reimbursement from any other Borrower, or any other Person now or hereafter primarily or secondarily liable for any of the Obligations, for any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise and all rights that it might have to benefit from, or to participate in, any security for the Obligations as a result of any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise. Any agreement providing for indemnification, reimbursement or any other arrangement prohibited under this Section 12.10 shall be null and void. If any payment is made to a Borrower in contravention of this Section 12.10Section, such Borrower shall hold such payment in trust for Collateral Agent and the Lenders Bank and such payment shall be promptly delivered to Collateral Agent Bank for application to the Obligations, whether matured or unmatured.

Appears in 2 contracts

Samples: Loan and Security Agreement (Safeguard Scientifics Inc), Loan and Security Agreement (Safeguard Scientifics Inc)

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Borrower Liability. Each Either Borrower may, acting singly, request credit extensions Credit Extensions hereunder. Each Borrower hereby appoints the other as agent for the other for all purposes hereunder, including with respect to requesting credit extensions Credit Extensions hereunder. Each Borrower hereunder shall be jointly and severally obligated to repay all credit extensions Credit Extensions made hereunder, regardless of which Bxxxxxxx Borrower actually receives said credit extensionCredit Extension, as if each Borrower hereunder directly received all credit extensionsCredit Extensions. Each Borrower waives (a) waives any suretyship defenses available to it under the Code or any other applicable law, and (b) . Each Borrower waives any right to require Collateral Agent or any Lender Bank to: (i) proceed against any Borrower or any other person; (ii) proceed against or exhaust any security; or (iii) pursue any other remedy. Collateral Agent and/or any Lender Bank may exercise or not exercise any right or remedy it has against any Borrower or any security it holds (including the right to foreclose by judicial or non-judicial sale) without affecting any Borrower’s liability. Notwithstanding any other provision of this Agreement or other related document, each Borrower irrevocably waives all rights that it may have at law or in equity (including, without limitation, any law subrogating Borrower to the rights of Collateral Agent and the Lenders Bank under this Agreement) to seek contribution, indemnification or any other form of reimbursement from any other Borrower, or any other Person now or hereafter primarily or secondarily liable for any of the Obligations, for any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise and all rights that it might have to benefit from, or to participate in, any security for the Obligations as a result of any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise. Any agreement providing for indemnification, reimbursement or any other arrangement prohibited under this Section 12.10 shall be null and void. If any payment is made to a Borrower in contravention of this Section 12.10Section, such Borrower shall hold such payment in trust for Collateral Agent and the Lenders Bank and such payment shall be promptly delivered to Collateral Agent Bank for application to the Obligations, whether matured or unmatured.

Appears in 2 contracts

Samples: Loan and Security Agreement (Network Engines Inc), Loan and Security Agreement (Paradigm Holdings, Inc)

Borrower Liability. Each Any Borrower may, acting singly, request credit extensions Advances hereunder. Each Borrower hereby appoints the other as agent for the other for all purposes hereunder, including with respect to requesting credit extensions Advances hereunder. Each Borrower hereunder shall be jointly and severally obligated to repay all credit extensions Advances made hereunder, regardless of which Bxxxxxxx Borrower actually receives said credit extensionAdvance, as if each Borrower hereunder directly received all credit extensionsAdvances. Each Borrower waives waives (a) any suretyship defenses available to it under the Code or any other applicable law, including, without limitation, the benefit of California Civil Code Section 2815 permitting revocation as to future transactions and the benefit of California Civil Code Sections 1432, 2809, 2810, 2819, 2839, 2845, 2847, 2848, 2849, 2850, and 2899 and 3433, and (b) any right to require Collateral Agent or any Lender Bank to: (i) proceed against any Borrower or any other person; (ii) proceed against or exhaust any security; or (iii) pursue any other remedy. Collateral Agent and/or any Lender Bank may exercise or not exercise any right or remedy it has against any Borrower or any security it holds (including the right to foreclose by judicial or non-judicial sale) without affecting any Borrower’s liability. Notwithstanding any other provision of this Agreement or other related document, each Borrower irrevocably waives subordinates to the prior payment in full of the Obligations and the termination of the Bank’s commitment to make Credit Extensions to Borrower and agrees not to assert or enforce prior to payment in full of the Obligations and the termination of the Bank’s commitment to make Credit Extensions to Borrower all rights that it may have at law or in equity (including, without limitation, any law subrogating Borrower to the rights of Collateral Agent and the Lenders Bank under this Agreement) to seek contribution, indemnification or any other form of reimbursement from any other Borrower, or any other Person now or hereafter primarily or secondarily liable for any of the Obligations, for any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise and all rights that it might have to benefit from, or to participate in, any security for the Obligations as a result of any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise. Any agreement providing for indemnification, reimbursement or any other arrangement prohibited under this Section 12.10 shall be null and void. If any payment is made to a Borrower in contravention of this Section 12.10Section, such Borrower shall hold such payment in trust for Collateral Agent and the Lenders Bank and such payment shall be promptly delivered to Collateral Agent Bank for application to the Obligations, whether matured or unmatured.” 15 The Loan Agreement shall be amended by deleting the following definitions from Section 13.1 thereof:

Appears in 2 contracts

Samples: Loan Modification Agreement, Loan Modification Agreement (AtriCure, Inc.)

Borrower Liability. Each Either Borrower may, acting singly, request credit extensions Credit Extensions hereunder. Each Borrower hereby appoints the other as agent for the other for all purposes hereunder, including with respect to requesting credit extensions Advances hereunder. Each Borrower hereunder shall be jointly and severally obligated to repay all credit extensions Advances made hereunder, regardless of which Bxxxxxxx Borrower actually receives said credit extensionAdvance, as if each Borrower hereunder directly received all credit extensionsAdvances. Each Borrower waives waives (a) any suretyship defenses available to it under the Code or any other applicable law, including, without limitation, the benefit of California Civil Code Section 2815 permitting revocation as to future transactions and the benefit of California Civil Code Sections 1432, 2809, 2810, 2819, 2839, 2845, 2847, 2848, 2849, 2850, and 2899 and 3433, and (b) any right to require Collateral Agent or any Lender Bank to: (i) proceed against any Borrower or any other person; (ii) proceed against or exhaust any security; or (iii) pursue any other remedy. Collateral Agent and/or any Lender Bank may exercise or not exercise any right or remedy it has against any Borrower or any security it holds (including the right to foreclose by judicial or non-judicial sale) without affecting any Borrower’s liability. Notwithstanding any other provision of this Agreement or other related document, each Borrower irrevocably waives all rights that it may have at law or in equity (including, without limitation, any law subrogating Borrower to the rights of Collateral Agent and the Lenders Bank under this Agreement) to seek contribution, indemnification or any other form of reimbursement from any other Borrower, or any other Person now or hereafter primarily or secondarily liable for any of the Obligations, for any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise and all rights that it might have to benefit from, or to participate in, any security for the Obligations as a result of any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise. Any agreement providing for indemnification, reimbursement or any other arrangement prohibited under this Section 12.10 shall be null and void. If any payment is made to a Borrower in contravention of this Section 12.10Section, such Borrower shall hold such payment in trust for Collateral Agent and the Lenders Bank and such payment shall be promptly delivered to Collateral Agent Bank for application to the Obligations, whether matured or unmatured.

Appears in 2 contracts

Samples: Loan and Security Agreement (TrueCar, Inc.), Loan and Security Agreement (TrueCar, Inc.)

Borrower Liability. Each Either Borrower may, acting singly, request credit extensions Credit Extensions hereunder. Each Borrower hereby appoints the other as agent for the other for all purposes hereunder, including with respect to requesting credit extensions Credit Extensions hereunder. Each Borrower hereunder shall be jointly and severally obligated to repay all credit extensions Credit Extensions made hereunder, regardless of which Bxxxxxxx Borrower actually receives said credit extensionAdvance, as if each Borrower hereunder directly received all credit extensionsCredit Extensions. Each Borrower waives (a) any suretyship defenses available to it under the Code or any other applicable law, including, without limitation, the benefit of California Civil Code Section 2815 permitting revocation as to future transactions and the benefit of California Civil Code Sections 1432, 2809, 2810, 2819, 2839, 2845, 2847, 2848, 2849, 2850, and 2899 and 3433, and (b) any right to require Collateral Agent or any Lender Bank to: (i) proceed against any Borrower or any other person; (ii) proceed against or exhaust any security; or (iii) pursue any other remedy. Collateral Agent and/or any Lender Bank may exercise or not exercise any right or remedy it has against any Borrower or any security it holds (including the right to foreclose by judicial or non-judicial sale) without affecting any Borrower’s liability. Notwithstanding any other provision of this Agreement or other related document, each Borrower irrevocably waives all rights that it may have at law or in equity (including, without limitation, any law subrogating Borrower to the rights of Collateral Agent and the Lenders Bank under this Agreement) to seek contribution, indemnification or any other form of reimbursement from any other Borrower, or any other Person now or hereafter primarily or secondarily liable for any of the Obligations, for any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise and all rights that it might have to benefit from, or to participate in, any security for the Obligations as a result of any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise. Any agreement providing for indemnification, reimbursement or any other arrangement prohibited under this Section 12.10 shall be null and void. If any payment is made to a Borrower in contravention of this Section 12.10Section, such Borrower shall hold such payment in trust for Collateral Agent and the Lenders Bank and such payment shall be promptly delivered to Collateral Agent Bank for application to the Obligations, whether matured or unmatured.

Appears in 2 contracts

Samples: Loan and Security Agreement (GOOD TECHNOLOGY Corp), Loan and Security Agreement (GOOD TECHNOLOGY Corp)

Borrower Liability. Each Any Borrower may, acting singly, request credit extensions Credit Extensions hereunder. Each Borrower hereby appoints the each other as agent for the other for all purposes hereunder, including with respect to requesting credit extensions Credit Extensions hereunder. Each Borrower hereunder shall be jointly and severally obligated to repay all credit extensions Credit Extensions made hereunder, regardless of which Bxxxxxxx Borrower actually receives said credit extensionCredit Extension, as if each Borrower hereunder directly received all credit extensionsCredit Extensions. Each Borrower waives (a) any suretyship defenses available to it under the Code or any other applicable law, and (b) any right to require Collateral Agent or any Lender the Lenders to: (i) proceed against any Borrower or any other person; (ii) proceed against or exhaust any security; or (iii) pursue any other remedy. Collateral Agent and/or any Lender and the Lenders may exercise or not exercise any right or remedy it has against any Borrower or any security it holds (including the right to foreclose by judicial or non-judicial sale) without affecting any Borrower’s liability. Notwithstanding any other provision of this Agreement or other related document, each Borrower irrevocably waives all rights that it may have at law or in equity (including, without limitation, any law subrogating Borrower to the rights of Collateral Agent and or the Lenders under this Agreement) to seek contribution, indemnification or any other form of reimbursement from any other Borrower, or any other Person now or hereafter primarily or secondarily liable for any of the Obligations, for any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise and all rights that it might have to benefit from, or to participate in, any security for the Obligations as a result of any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise, until the payment in full of the Obligations (other than inchoate indemnity or other obligations which, by their terms, survive termination of the Loan Agreement and the termination of the Loan Documents). Any agreement providing for indemnification, reimbursement or any other arrangement prohibited under this Section 12.10 9.9 shall be null and void. If any payment is made to a Borrower in contravention of this Section 12.109.9, such Borrower shall hold such payment in trust for Collateral Agent and the Lenders and such payment shall be promptly delivered to Collateral Agent for application to the Obligations, whether matured or unmatured.” 4 The Loan Agreement shall be amended by inserting the following new definitions, appearing alphabetically in Section 14.1 thereof: “ “Xxxxx” is Xxxxx, Inc., a Delaware corporation.” “ “Interactive” is Xxxxx Interactive Labs, Inc., a Delaware corporation.” 5 The Loan Agreement shall be amended by deleting the following definitions, appearing in Section 14.1 thereof:

Appears in 2 contracts

Samples: Loan Modification Agreement (Akili, Inc.), Loan Modification Agreement (Akili, Inc.)

Borrower Liability. Each Borrower may, acting singly, request credit extensions Credit Extensions hereunder. Each Borrower hereby appoints the other as agent for the other for all purposes hereunder, including with respect to requesting credit extensions Credit Extensions hereunder. Each Borrower hereunder shall be jointly and severally obligated to repay all credit extensions Credit Extensions made hereunder, regardless of which Bxxxxxxx Borrower actually receives said credit extensionCredit Extension, as if each Borrower hereunder directly received all credit extensionsCredit Extensions. Each Borrower waives waives (a) any suretyship defenses available to it under the Code or any other applicable law, and (b) any right to require Collateral Agent or any Lender Bank to: (i) proceed against any Borrower or any other person; (ii) proceed against or exhaust any security; or (iii) pursue any other remedy. Collateral Agent and/or any Lender Bank may exercise or not exercise any right or remedy it has against any Borrower or any security it holds (including the right to foreclose by judicial or non-judicial sale) without affecting any Borrower’s liability. Notwithstanding any other provision of this Agreement or other related document, each Borrower irrevocably waives all rights that it may have at law or in equity (including, without limitation, any law subrogating Borrower to the rights of Collateral Agent and the Lenders Bank under this Agreement) to seek contribution, indemnification or any other form of reimbursement from any other Borrower, or any other Person now or hereafter primarily or secondarily liable for any of the Obligations, for any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise and all rights that it might have to benefit from, or to participate in, any security for the Obligations as a result of any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise. Any agreement providing for indemnification, reimbursement or any other arrangement prohibited under this Section 12.10 shall be null and void. If any payment is made to a Borrower in contravention of this Section 12.10Section, such Borrower shall hold such payment in trust for Collateral Agent and the Lenders Bank and such payment shall be promptly delivered to Collateral Agent Bank for application to the Obligations, whether matured or unmatured.” • Section 13 (Definitions). The following term and its definition set forth in Section 13.1 is amended in its entirety and replaced with the following: “ “Borrower” means, individually and collectively, jointly and severally Health Catalyst and Medicity.”

Appears in 2 contracts

Samples: Loan and Security Agreement (Health Catalyst, Inc.), Loan and Security Agreement (Health Catalyst, Inc.)

Borrower Liability. Each Either Borrower may, acting singly, request credit extensions Credit Extensions hereunder. Each Borrower hereby appoints the other as agent for the other itself for all purposes hereunder, including with respect to requesting credit extensions Credit Extensions hereunder. Each Borrower hereunder shall be jointly and severally obligated to repay all credit extensions Credit Extensions made hereunder, regardless of which Bxxxxxxx Borrower actually receives said credit extensionCredit Extensions, as if each Borrower hereunder directly received all credit extensionsCredit Extensions. Each Borrower waives (a) any suretyship defenses available to it under the Code or any other applicable law, and (b) any right to require Collateral Agent or any Lender Bank to: (i) proceed against any Borrower or any other person; (ii) proceed against or exhaust any security; or (iii) pursue any other remedy. Collateral Agent and/or any Lender Bank may exercise or not exercise any right or remedy it has against any Borrower or any security it holds (including the right to foreclose by judicial or non-judicial sale) without affecting any Borrower’s liability. Notwithstanding any other provision of this Agreement or other related document, each Borrower irrevocably waives all rights that it may have at law or in equity (including, without limitation, any law subrogating Borrower to the rights of Collateral Agent and the Lenders Bank under this Agreement) to seek contribution, indemnification or any other form of reimbursement from any other Borrower, or any other Person now or hereafter primarily or secondarily liable for any of the Obligations, for any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise and all rights that it might have to benefit from, or to participate in, any security for the Obligations as a result of any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise. Any agreement providing for indemnification, reimbursement or any other arrangement prohibited under this Section 12.10 9.6 shall be null and void. If any payment is made to a Borrower in contravention of this Section 12.109.6, such Borrower shall hold such payment in trust for Collateral Agent and the Lenders Bank and such payment shall be promptly delivered to Collateral Agent Bank for application to the Obligations, whether matured or unmatured.

Appears in 2 contracts

Samples: Loan and Security Agreement (VirtualScopics, Inc.), Loan and Security Agreement (InsPro Technologies Corp)

Borrower Liability. Each As detailed in Article 1, each Borrower may, acting singly, request credit extensions hereunder. Each has appointed Caliper as Agent for each Borrower hereby appoints the other as agent for the other for all purposes hereunder, including with respect to requesting credit extensions Credit Extensions hereunder. Each Borrower hereunder shall be obligated, jointly and severally obligated severally, to repay all credit extensions Credit Extensions made hereunder, regardless of which Bxxxxxxx Borrower actually receives said credit extensionCredit Extension, as if each Borrower hereunder directly received all credit extensionsCredit Extensions. Each Borrower waives (a) waives any suretyship defenses available to it under the Code or any other applicable law, and (b) . Each Borrower waives any right to require Collateral Agent or any Lender Bank to: (i) proceed against any Borrower or any other person; (ii) proceed against or exhaust any security; or (iii) pursue any other remedy. Collateral Agent and/or any Lender Bank may exercise or not exercise any right or remedy it has against any Borrower or any security it holds (including the right to foreclose by judicial or non-judicial sale) without affecting any Borrower’s liability. Notwithstanding any other provision of this Agreement or other related document, each Borrower irrevocably waives all rights that it may have at law or in equity (including, without limitation, any law subrogating Borrower to the rights of Collateral Agent and the Lenders Bank under this Agreement) to seek contribution, indemnification or any other form of reimbursement from any other Borrower, or any other Person now or hereafter primarily or secondarily liable for any of the Obligations, for any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise and all rights that it might have to benefit from, or to participate in, any security for the Obligations as a result of any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise. Any agreement providing for indemnification, reimbursement or any other arrangement prohibited under this Section 12.10 shall be null and void. If any payment is made to a Borrower in contravention of this Section 12.10Section, such Borrower shall hold such payment in trust for Collateral Agent and the Lenders Bank and such payment shall be promptly delivered to Collateral Agent Bank for application to the Obligations, whether matured or unmatured.

Appears in 2 contracts

Samples: Loan and Security Agreement (Caliper Life Sciences Inc), Loan and Security Agreement (Caliper Life Sciences Inc)

Borrower Liability. Each Borrower may, acting singly, request credit extensions Credit Extensions hereunder. Each Borrower hereby appoints the each other Borrower as agent for the other such Borrower for all purposes hereunder, including with respect to requesting credit extensions Credit Extensions hereunder. Each Borrower hereunder shall be jointly and severally obligated to repay all credit extensions Credit Extensions made hereunder, regardless of which Bxxxxxxx Borrower actually receives said credit extensionCredit Extensions, as if each Borrower hereunder directly received all credit extensionsCredit Extensions. Each Borrower waives (a) any suretyship defenses available to it under the Code or any other applicable law, and (b) any right to require Collateral Agent or any Lender Bank to: (i) proceed against any Borrower or any other person; (ii) proceed against or exhaust any security; or (iii) pursue any other remedy. Collateral Agent and/or any Lender Bank may exercise or not exercise any right or remedy it has against any Borrower or any security it holds (including the right to foreclose by judicial or non-judicial sale) without affecting any Borrower’s liability. Notwithstanding any other provision of this Agreement or other related document, each Borrower irrevocably waives all rights that it may have at law or in equity (including, without limitation, any law subrogating Borrower to the rights of Collateral Agent and the Lenders Bank under this Agreement) to seek contribution, indemnification or any other form of reimbursement from any other Borrower, or any other Person now or hereafter primarily or secondarily liable for any of the Obligations, for any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise and all rights that it might have to benefit from, or to participate in, any security for the Obligations as a result of any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise. Any agreement providing for indemnification, reimbursement or any other arrangement prohibited under this Section 12.10 shall be null and void. If any payment is made to a Borrower in contravention of this Section 12.10Section, such Borrower shall hold such payment in trust for Collateral Agent and the Lenders Bank and such payment shall be promptly delivered to Collateral Agent Bank for application to the Obligations, whether matured or unmatured.

Appears in 2 contracts

Samples: Loan and Security Agreement (Mattersight Corp), Loan and Security Agreement (Mattersight Corp)

Borrower Liability. Each Any Borrower may, acting singly, request credit extensions Credit Extensions hereunder. Each Borrower hereby appoints the other as agent for the other for all purposes hereunder, including with respect to requesting credit extensions Credit Extensions hereunder. Each Borrower hereunder shall be jointly and severally obligated to repay all credit extensions Credit Extensions made hereunder, regardless of which Bxxxxxxx Borrower actually receives said credit extensionCredit Extension, as if each Borrower hereunder directly received all credit extensionsCredit Extensions. Each Borrower waives (a) any suretyship defenses available to it under the Code or any other applicable law, and (b) any right to require Collateral Agent or any Lender Bank to: (i) proceed against any Borrower or any other person; (ii) proceed against or exhaust any security; or (iii) pursue any other remedy. Collateral Agent and/or any Lender Bank may exercise or not exercise any right or remedy it has against any Borrower or any security it holds (including the right to foreclose by judicial or non-judicial sale) without affecting any Borrower’s liability. Notwithstanding any other provision of this Agreement or other related document, so long as the Obligations (other than inchoate indemnity obligations and other obligations that by their terms survive the termination of this Agreement) are outstanding or the Bank has any commitment to lend to Borrower hereunder, each Borrower irrevocably waives all rights that it may have at law or in equity (including, without limitation, any law subrogating Borrower to the rights of Collateral Agent and the Lenders Bank under this Agreement) to seek contribution, indemnification or any other form of reimbursement from any other Borrower, or any other Person now or hereafter primarily or secondarily liable for any of the Obligations, for any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise and all rights that it might have to benefit from, or to participate in, any security for the Obligations as a result of any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise. Any agreement providing for indemnification, reimbursement or any other arrangement prohibited under this Section 12.10 shall be null and voidvoid to the extent that it conflicts with the preceding sentence. If any payment is made to a Borrower in contravention of this Section 12.10Section, such Borrower shall hold such payment in trust for Collateral Agent and the Lenders Bank and such payment shall be promptly delivered to Collateral Agent Bank for application to the Obligations, whether matured or unmatured.

Appears in 2 contracts

Samples: Loan and Security Agreement (NxStage Medical, Inc.), Loan and Security Agreement (NxStage Medical, Inc.)

Borrower Liability. Each Any Borrower may, acting singly, request credit extensions Credit Extensions hereunder. Each Borrower hereby appoints the each other as agent for the other for all purposes hereunder, including with respect to requesting credit extensions Credit Extensions hereunder. Each Borrower hereunder shall be jointly and severally obligated to repay all credit extensions Credit Extensions made hereunder, regardless of which Bxxxxxxx Borrower actually receives said credit extensionCredit Extension, as if each Borrower hereunder directly received all credit extensionsCredit Extensions. Each Borrower waives (a) any suretyship defenses available to it under the Code or any other applicable law, and (b) any right to require Collateral Agent or any Lender Bank to: (i) proceed against any Borrower or any other person; (ii) proceed against or exhaust any security; or (iii) pursue any other remedy. Collateral Agent and/or any Lender Bank may exercise or not exercise any right or remedy it has against any Borrower or any security it holds (including the right to foreclose by judicial or non-judicial sale) without affecting any Borrower’s liability. Notwithstanding any other provision of this Agreement or other related document, each Borrower irrevocably waives all rights that it may have at law or in equity (including, without limitation, any law subrogating Borrower to the rights of Collateral Agent and the Lenders Bank under this Agreement) to seek contribution, indemnification or any other form of reimbursement from any other Borrower, or any other Person now or hereafter primarily or secondarily liable for any of the Obligations, for any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise and all rights that it might have to benefit from, or to participate in, any security for the Obligations as a result of any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise. Any agreement providing for indemnification, reimbursement or any other arrangement prohibited under this Section 12.10 9.8 shall be null and void. If any payment is made to a Borrower in contravention of this Section 12.109.8, such Borrower shall hold such payment in trust for Collateral Agent and the Lenders Bank and such payment shall be promptly delivered to Collateral Agent Bank for application to the Obligations, whether matured or unmatured. Each Borrower is entering into this Agreement, and making all representations and warranties hereunder, on a joint and several basis, and all covenants, agreements and undertakings herein expressed or implied on the part of each Borrower shall be deemed to be joint and several.

Appears in 2 contracts

Samples: Loan and Security Agreement (Tufin Software Technologies Ltd.), Loan and Security Agreement (Tufin Software Technologies Ltd.)

Borrower Liability. Each Any Borrower may, acting singly, request credit extensions the Loan hereunder. Each Borrower hereby appoints the other as agent for the other for all purposes hereunder, including with respect to requesting credit extensions the Loan hereunder. Each Borrower hereunder shall be jointly and severally obligated to repay all credit extensions the Loan made hereunder, regardless of which Bxxxxxxx Borrower actually receives said credit extensionLoan, as if each Borrower hereunder directly received all credit extensionsthe Loan. Each Borrower waives (a) any suretyship defenses available to it under the Code or any other applicable law, and (b) any right to require Collateral Agent or any Lender the Lenders to: (i) proceed against any Borrower or any other person; (ii) proceed against or exhaust any security; or (iii) pursue any other remedy. Collateral Agent and/or any Lender and the Lenders may exercise or not exercise any right or remedy it has against any Borrower or any security it holds (including the right to foreclose by judicial or non-judicial sale) without affecting any Borrower’s liability. Notwithstanding any other provision of this Agreement or other related document, so long as any Obligation remains outstanding, each Borrower irrevocably waives subordinates in priority and payment to the indefeasible repayment in full in cash of the Obligations all rights that it may have at law or in equity (including, without limitation, any law subrogating Borrower to the rights of Collateral Lenders and Agent and the Lenders under this Agreement) to seek contribution, indemnification or any other form of reimbursement from any other Borrower, or any other Person now or hereafter primarily or secondarily liable for any of the Obligations, for any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise and all rights that it might have to benefit from, or to participate in, any security for the Obligations as a result of any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise. Any agreement providing for indemnification, reimbursement or any other arrangement prohibited under this Section 12.10 11.01 shall be null and void. If any payment is made to a Borrower in contravention of this Section 12.1011.01, such Borrower shall hold such payment in trust for Collateral Agent and the Lenders and such payment shall be promptly delivered to Collateral Agent and Lenders for application to the Obligations, whether matured or unmatured.

Appears in 2 contracts

Samples: Loan and Security Agreement (Mavenir Systems Inc), Loan and Security Agreement (Mavenir Systems Inc)

Borrower Liability. Each Borrower may, acting singly, request credit extensions Advances hereunder. Each Borrower hereby appoints the other others as agent for the other others for all purposes hereunder, including with respect to requesting credit extensions Advances hereunder. Each Borrower hereunder shall be jointly and severally obligated to repay all credit extensions Advances made hereunder, regardless of which Bxxxxxxx Borrower actually receives said credit extensionAdvance, as if each Borrower hereunder directly received all credit extensions. Each Borrower waives (a) any suretyship defenses available to it under the Code or any other applicable law, and (b) any right to require Collateral Agent or any Lender to: (i) proceed against any Borrower or any other person; (ii) proceed against or exhaust any security; or (iii) pursue any other remedy. Collateral Agent and/or any Lender may exercise or not exercise any right or remedy it has against any Borrower or any security it holds (including the right to foreclose by judicial or non-judicial sale) without affecting any Borrower’s liabilityAdvances. Notwithstanding any other provision of this Agreement or other related document, each Borrower irrevocably waives all rights that it may have at law or in equity (including, without limitation, any law subrogating Borrower to the rights of Collateral Agent and the Lenders Bank under this Agreement) to seek contribution, indemnification or any other form of reimbursement from any other Borrower, or any other Person now or hereafter primarily or secondarily liable for any of the Obligations, for any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise and all rights that it might have to benefit from, or to participate in, any security for the Obligations as a result of any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise. Any agreement providing for indemnification, reimbursement or any other arrangement prohibited under this Section 12.10 shall be null and void. If any payment is made to a Borrower in contravention of this Section 12.10Section, such Borrower shall hold such payment in trust for Collateral Agent and the Lenders Bank and such payment shall be promptly delivered to Collateral Agent Bank for application to the Obligations, whether matured or unmatured. (a) proceed against any Borrower or any other person; (b) proceed against or exhaust any security; or (c) pursue any other remedy. Bank may exercise or not exercise any right or remedy it has against any Borrower or any security it holds (including the right to foreclose by judicial or non-judicial sale) without affecting any Borrower’s liability.

Appears in 2 contracts

Samples: Loan and Security Agreement (Spire Corp), Export Import Bank Loan and Security Agreement (Spire Corp)

Borrower Liability. Each Any Borrower may, acting singly, request credit extensions Credit Extensions hereunder. Each Borrower hereby appoints the other as agent for the other for all purposes hereunder, including with respect to requesting credit extensions Credit Extensions hereunder. Each Borrower hereunder shall be jointly and severally obligated to repay all credit extensions Credit Extensions made hereunder, regardless of which Bxxxxxxx Borrower actually receives said credit extensionCredit Extension, as if each Borrower hereunder directly received all credit extensionsCredit Extensions. Each Borrower waives (a) any suretyship defenses available to it under the Code or any other applicable law, and (b) any right to require Collateral Agent or any Lender to: (i) proceed against any Borrower or any other person; (ii) proceed against or exhaust any security; or (iii) pursue any other remedy. Collateral Agent and/or and or any Lender may exercise or not exercise any right or remedy it has against any Borrower or any security it holds (including the right to foreclose by judicial or non-judicial sale) without affecting any Borrower’s liability. Notwithstanding any other provision of this Agreement or other related document, each Borrower irrevocably waives all rights that it may have at law or in equity (including, without limitation, any law subrogating Borrower to the rights of Collateral Agent and the Lenders under this Agreement) to seek contribution, indemnification or any other form of reimbursement from any other Borrower, or any other Person now or hereafter primarily or secondarily liable for any of the Obligations, for any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise and all rights that it might have to benefit from, or to participate in, any security for the Obligations as a result of any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise. Any agreement providing for indemnification, reimbursement or any other arrangement prohibited under this Section 12.10 shall be null and void. If any payment is made to a Borrower in contravention of this Section 12.10Section, such Borrower shall hold such payment in trust for Collateral Agent and the Lenders and such payment shall be promptly delivered to Collateral Agent for application to the Obligations, whether matured or unmatured.

Appears in 2 contracts

Samples: Loan and Security Agreement (Centogene N.V.), Loan and Security Agreement (4D Pharma PLC)

Borrower Liability. Each Either Borrower may, acting singly, request credit extensions Credit Extensions hereunder. Each Borrower hereby appoints the other as agent for the other itself for all purposes hereunder, including with respect to requesting credit extensions Credit Extensions hereunder. Each Borrower hereunder shall be jointly and severally obligated to repay all credit extensions Credit Extensions made hereunder, regardless of which Bxxxxxxx Borrower actually receives said credit extensionCredit Extensions, as if each Borrower hereunder directly received all credit extensionsCredit Extensions. Each Borrower waives (a) any suretyship defenses available to it under the Code or any other applicable law, and (b) any right to require Collateral Agent or any Lender Bank to: (i) proceed against any Borrower or any other person; (ii) proceed against or exhaust any security; or (iii) pursue any other remedy. Collateral Agent and/or any Lender Bank may exercise or not exercise any right or remedy it has against any Borrower or any security it holds (including the right to foreclose by judicial or non-judicial sale) without affecting any Borrower’s liability. Notwithstanding any other provision of this Agreement or other related document, each Borrower irrevocably waives all rights that it may have at law or in equity (including, without limitation, any law subrogating Borrower to the rights of Collateral Agent and the Lenders Bank under this Agreement) to seek contribution, indemnification or any other form of reimbursement from any other Borrower, or any other Person now or hereafter primarily or secondarily liable for any of the Obligations, for any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise and all rights that it might have to benefit from, or to participate in, any security for the Obligations as a result of any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise. Any agreement providing for indemnification, reimbursement or any other arrangement prohibited under this Section 12.10 9.8 shall be null and void. If any payment is made to a Borrower in contravention of this Section 12.109.8, such Borrower shall hold such payment in trust for Collateral Agent and the Lenders Bank and such payment shall be promptly delivered to Collateral Agent Bank for application to the Obligations, whether matured or unmatured.

Appears in 2 contracts

Samples: Loan and Security Agreement (Alvarion LTD), Loan and Security Agreement (Alvarion LTD)

Borrower Liability. Each Borrower may, acting singly, request credit extensions hereunder. Each Borrower hereby appoints the other Parent as agent for the other Borrower for all purposes hereunder, including with respect to requesting credit extensions Credit Extensions hereunder. Each Borrower hereunder shall be jointly and severally obligated to repay all credit extensions Credit Extensions made hereunder, regardless of which Bxxxxxxx Borrower actually receives said credit extensionCredit Extension, as if each Borrower hereunder directly received all credit extensionsCredit Extensions. Each Borrower waives (a) any suretyship defenses available to it under the Code or any other applicable law, and (b) any right to require Collateral Agent or any Lender to: (i) proceed against any Borrower or any other person; (ii) proceed against or exhaust any security; or (iii) pursue any other remedy. Collateral Agent and/or and or any Lender may exercise or not exercise any right or remedy it has against any Borrower or any security it holds (including the right to foreclose by judicial or non-judicial sale) without affecting any Borrower’s liability. Notwithstanding any other provision of this Agreement or other related document, each Borrower irrevocably waives all rights that it may have at law or in equity (including, without limitation, any law subrogating Borrower to the rights of Collateral Agent and the Lenders under this Agreement) to seek contribution, indemnification or any other form of reimbursement from any other Borrower, or any other Person now or hereafter primarily or secondarily liable for any of the Obligations, for any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise and all rights that it might have to benefit from, or to participate in, any security for the Obligations as a result of any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise, in each case until indefeasible payment in full of the Obligations (other than inchoate indemnity obligations). Any agreement providing for indemnification, reimbursement or any other arrangement prohibited under this Section 12.10 shall be null and void. If any payment is made to a Borrower in contravention of this Section 12.10Section, such Borrower shall hold such payment in trust for Collateral Agent and the Lenders and such payment shall be promptly delivered to Collateral Agent for application to the Obligations, whether matured or unmatured.

Appears in 2 contracts

Samples: Loan and Security Agreement (Inhibrx, Inc.), Loan and Security Agreement (Inhibrx, Inc.)

Borrower Liability. Each Either Borrower may, acting singly, request credit extensions Advances hereunder. Each Borrower hereby appoints the other as agent for the other for all purposes hereunder, including with respect to requesting credit extensions Advances hereunder. Each Borrower hereunder shall be jointly and severally obligated to repay all credit extensions Advances made hereunder, regardless of which Bxxxxxxx Borrower actually receives said credit extensionAdvance, as if each Borrower hereunder directly received all credit extensionsAdvances. Each Borrower waives (a) any suretyship defenses available to it under the Code or any other applicable law, and (b) waives any right to require Collateral Agent or any Lender Bank to: (i) proceed against any Borrower or any other person; (ii) proceed against or exhaust any security; or (iii) pursue any other remedy. Collateral Agent and/or any Lender Bank may exercise or not exercise any right or remedy it has against any Borrower or any security it holds (including the right to foreclose by judicial or non-judicial sale) without affecting any Borrower’s liability. Notwithstanding any other provision of this Agreement or other related document, each Borrower irrevocably waives all rights that it may have at law or in equity (including, without limitation, any law subrogating Borrower to the rights of Collateral Agent and the Lenders Bank under this Agreement) to seek contribution, indemnification or any other form of reimbursement from any other Borrower, or any other Person now or hereafter primarily or secondarily liable for any of the Obligations, for any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise and all rights that it might have to benefit from, or to participate in, any security for the Obligations as a result of any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise. Any agreement providing for indemnification, reimbursement or any other arrangement prohibited under this Section 12.10 shall be null and void. If any payment is made to a Borrower in contravention of this Section 12.10Section, such Borrower shall hold such payment in trust for Collateral Agent and the Lenders Bank and such payment shall be promptly delivered to Collateral Agent Bank for application to the Obligations, whether matured or unmatured.

Appears in 2 contracts

Samples: Loan and Security Agreement (GlobalOptions Group, Inc.), Loan and Security Agreement (Paradigm Holdings, Inc)

Borrower Liability. Each Borrower may, acting singly, request credit extensions Loans hereunder. Each Borrower hereby appoints the each other Borrower as agent for the other for all purposes hereunder, including with respect to requesting credit extensions Loans hereunder. Each Borrower hereunder shall be jointly and severally obligated to repay all credit extensions Loans made hereunder, regardless of which Bxxxxxxx actually Boxxxxxx xctually receives said credit extensionLoans, as if each Borrower hereunder directly received all credit extensionsLoans. Each Borrower waives waives (a) any suretyship defenses available to it under the Code UCC or any other applicable law, and (b) any right to require Collateral Administrative Agent or any Lender to: (i) proceed against any Borrower or any other personPerson; (ii) proceed against or exhaust any security; or (iii) pursue any other remedy. Collateral Administrative Agent and/or any Lender may exercise or not exercise any right or remedy it has against any Borrower or any security it holds (including the right to foreclose by judicial or non-judicial sale) without affecting any Borrower’s liability. Notwithstanding any other provision of this Credit Agreement or other related document, each Borrower irrevocably waives all rights that it may have at law or in equity (including, without limitation, any law subrogating such Borrower to the rights of Collateral Administrative Agent and the Lenders and/or any Lender under this Credit Agreement) to seek contribution, indemnification or any other form of reimbursement from any other Borrower, or any other Person now or hereafter primarily or secondarily liable for any of the Obligations, for any payment made by such Borrower with respect to the Obligations in connection with this Credit Agreement or otherwise and all rights that it might have to benefit from, or to participate in, any security for the Obligations as a result of any payment made by such Borrower with respect to the Obligations in connection with this Credit Agreement or otherwise. Any agreement providing for indemnification, reimbursement or any other arrangement prohibited under this Section 12.10 11.19 shall be null and void. If any payment is made to a Borrower in contravention of this Section 12.10Section, such Borrower shall hold such payment in trust for Collateral Administrative Agent and the Lenders and such payment shall be promptly delivered to Collateral Agent Administrative Agent, for the benefit of the Lenders, for application to the Obligations, whether matured or unmatured.

Appears in 2 contracts

Samples: Revolving Credit and Security Agreement (Golub Capital BDC 3, Inc.), Revolving Credit and Security Agreement (Golub Capital BDC 3, Inc.)

Borrower Liability. Each Any Borrower may, acting singly, request credit extensions Advances hereunder. Each Borrower hereby appoints the other as agent for the other for all purposes hereunder, including with respect to requesting credit extensions Advances hereunder. Each Borrower hereunder shall be jointly and severally obligated to repay all credit extensions Advances made hereunder, regardless of which Bxxxxxxx Borrower actually receives said credit extensionAdvance, as if each Borrower hereunder directly received all credit extensionsAdvances. Each Borrower waives (a) waives any suretyship defenses available to it under the Code or any other applicable law, and (b) . Each Borrower waives any right to require Collateral Agent or any Lender Bank to: (i) proceed against any Borrower or any other person; (ii) proceed against or exhaust any security; or (iii) pursue any other remedy. Collateral Agent and/or any Lender Bank may exercise or not exercise any right or remedy it has against any Borrower or any security it holds (including the right to foreclose by judicial or non-judicial sale) without affecting any Borrower’s liability. Notwithstanding any other provision of this Agreement or other related document, each Borrower irrevocably waives all rights that it may have at law or in equity (including, without limitation, any law subrogating Borrower to the rights of Collateral Agent and the Lenders Bank under this Agreement) to seek contribution, indemnification or any other form of reimbursement from any other Borrower, or any other Person now or hereafter primarily or secondarily liable for any of the Obligations, for any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise and all rights that it might have to benefit from, or to participate in, any security for the Obligations as a result of any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise. Any agreement providing for indemnification, reimbursement or any other arrangement prohibited under this Section 12.10 shall be null and void. If any payment is made to a Borrower in contravention of this Section 12.10Section, such Borrower shall hold such payment in trust for Collateral Agent and the Lenders Bank and such payment shall be promptly delivered to Collateral Agent Bank for application to the Obligations, whether matured or unmatured.

Appears in 2 contracts

Samples: Loan and Security Agreement (Technest Holdings Inc), Loan and Security Agreement (Technest Holdings Inc)

Borrower Liability. Each Any Borrower may, acting singly, request credit extensions Credit Extensions hereunder. Each Borrower hereby appoints the each other as agent for the other for all purposes hereunder, including with respect to requesting credit extensions Credit Extensions hereunder. Each Borrower hereunder shall be jointly and severally obligated to repay all credit extensions Credit Extensions made hereunder, regardless of which Bxxxxxxx Borrower actually receives said credit extensionCredit Extension, as if each Borrower hereunder directly received all credit extensionsCredit Extensions. Each Borrower waives (a) any suretyship defenses available to it under the Code or any other applicable law, including, without limitation, the benefit of California Civil Code Section 2815 permitting revocation as to future transactions and the benefit of California Civil Code Sections 1432, 2809, 2810, 2819, 2839, 2845, 2847, 2848, 2849, 2850, and 2899 and 3433, and (b) any right to require Collateral Agent or any Lender Bank to: (i) proceed against any Borrower or any other person; (ii) proceed against or exhaust any security; or (iii) pursue any other remedy. Collateral Agent and/or any Lender Bank may exercise or not exercise any right or remedy it has against any Borrower or any security it holds (including the right to foreclose by judicial or non-judicial sale) without affecting any Borrower’s liability. Notwithstanding any other provision of this Agreement or other related document, each Borrower irrevocably waives all rights that it may have at law or in equity (including, without limitation, any law subrogating Borrower to the rights of Collateral Agent and the Lenders Bank under this Agreement) to seek contribution, indemnification or any other form of reimbursement from any other Borrower, or any other Person now or hereafter primarily or secondarily liable for any of the Obligations, for any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise and all rights that it might have to benefit from, or to participate in, any security for the Obligations as a result of any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise. Any agreement providing for indemnification, reimbursement or any other arrangement prohibited under this Section 12.10 shall be null and void. If any payment is made to a Borrower in contravention of this Section 12.10Section, such Borrower shall hold such payment in trust for Collateral Agent and the Lenders Bank and such payment shall be promptly delivered to Collateral Agent Bank for application to the Obligations, whether matured or unmatured.

Appears in 2 contracts

Samples: Loan and Security Agreement (TrueCar, Inc.), Loan and Security Agreement (Guidance Software, Inc.)

Borrower Liability. Each Any Borrower may, acting singly, request credit extensions Credit Extensions hereunder. Each Borrower hereby appoints the other as agent for the other for all purposes hereunder, including with respect to requesting credit extensions Credit Extensions hereunder. Each Borrower hereunder shall be jointly and severally obligated to repay all credit extensions Credit Extensions made hereunder, regardless of which Bxxxxxxx Borrower actually receives said credit extensionCredit Extension, as if each Borrower hereunder directly received all credit extensionsCredit Extensions. Each Borrower waives (a) any suretyship defenses available to it under the Code or any other applicable law, and (b) any right to require Collateral Agent or any Lender to: (i) proceed against any Borrower or any other person; (ii) proceed against or exhaust any security; or (iii) pursue any other remedy. Collateral Agent and/or and or any Lender may exercise or not exercise any right or remedy it has against any Borrower or any security it holds (including the right to foreclose by judicial or non-non judicial sale) without affecting any Borrower’s liability. Notwithstanding any other provision of this Agreement or other related document, each Borrower irrevocably waives all rights that it may have at law or in equity (including, without limitation, any law subrogating Borrower to the rights of Collateral Agent and the Lenders under this Agreement) to seek contribution, indemnification or any other form of reimbursement from any other Borrower, or any other Person now or hereafter primarily or secondarily liable for any of the Obligations, for any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise and all rights that it might have to benefit from, or to participate in, any security for the Obligations as a result of any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise. Any agreement providing for indemnification, reimbursement or any other arrangement prohibited under this Section 12.10 shall be null and void. If any payment is made to a Borrower in contravention of this Section 12.10Section, such Borrower shall hold such payment in trust for Collateral Agent and the Lenders and such payment shall be promptly delivered to Collateral Agent for application to the Obligations, whether matured or unmatured.” 3.11 Section 13.1 (Definitions). The following terms and their respective definitions hereby are added or amended and restated in their entirety, as applicable, to Section 13.1 of the Loan Agreement as follows:

Appears in 2 contracts

Samples: Loan and Security Agreement (Xeris Pharmaceuticals Inc), Loan and Security Agreement (Xeris Biopharma Holdings, Inc.)

Borrower Liability. Each Either Borrower may, acting singly, request credit extensions Term Loans hereunder. Each Borrower hereby appoints the other as agent for the other for all purposes hereunder, including with respect to requesting credit extensions Term Loans hereunder. Each Borrower hereunder shall be jointly and severally obligated to repay all credit extensions Term Loans made hereunder, regardless of which Bxxxxxxx Borrower actually receives said credit extensionAdvance, as if each Borrower hereunder directly received all credit extensionsTerm Loans. Each Borrower waives waives (a) any suretyship defenses available to it under the Code or any other applicable law, including, without limitation, the benefit of California Civil Code Section 2815 permitting revocation as to future transactions and the benefit of California Civil Code Sections 1432, 2809, 2810, 2819, 2839, 2845, 2847, 2848, 2849, 2850, and 2899 and 3433, and (b) any right to require Collateral Agent or any Lender Bank to: (i) proceed against any Borrower or any other person; (ii) proceed against or exhaust any security; or (iii) pursue any other remedy. Collateral Agent and/or any Lender Bank may exercise or not exercise any right or remedy it has against any Borrower or any security it holds (including the right to foreclose by judicial or non-judicial sale) without affecting any Borrower’s liability. Notwithstanding any other provision of this Agreement or other related document, each Borrower irrevocably waives all rights that it may have at law or in equity (including, without limitation, any law subrogating Borrower to the rights of Collateral Agent and the Lenders Bank under this Agreement) to seek contribution, indemnification or any other form of reimbursement from any other Borrower, or any other Person now or hereafter primarily or secondarily liable for any of the Obligations, for any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise and all rights that it might have to benefit from, or to participate in, any security for the Obligations as a result of any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise. Any agreement providing for indemnification, reimbursement or any other arrangement prohibited under this Section 12.10 shall be null and void. If any payment is made to a Borrower in contravention of this Section 12.10Section, such Borrower shall hold such payment in trust for Collateral Agent and the Lenders Bank and such payment shall be promptly delivered to Collateral Agent Bank for application to the Obligations, whether matured or unmatured.

Appears in 2 contracts

Samples: Loan and Security Agreement (GOOD TECHNOLOGY Corp), Loan and Security Agreement (GOOD TECHNOLOGY Corp)

Borrower Liability. Each Borrower may, acting singly, request credit extensions Loans hereunder. Each Borrower hereby appoints the each other Borrower as agent for the other for all purposes hereunder, including with respect to requesting credit extensions Loans hereunder. Each Borrower hereunder shall be jointly and severally obligated to repay all credit extensions Loans made hereunder, regardless of which Bxxxxxxx Xxxxxxxx actually receives said credit extensionLoans, as if each Borrower hereunder directly received all credit extensionsLoans. Each Borrower waives (a) any suretyship defenses available to it under the Code UCC or any other applicable law, and (b) any right to require Collateral Administrative Agent or any Lender to: (i) proceed against any Borrower or any other personPerson; (ii) proceed against or exhaust any security; or (iii) pursue any other remedy. Collateral Administrative Agent and/or any Lender may exercise or not exercise any right or remedy it has against any Borrower or any security it holds (including the right to foreclose by judicial or non-judicial sale) without affecting any Borrower’s liability. Notwithstanding any other provision of this Credit Agreement or other related document, each Borrower irrevocably waives all rights that it may have at law or in equity (including, without limitation, including any law subrogating such Borrower to the rights of Collateral Administrative Agent and the Lenders and/or any Lender under this Credit Agreement) to seek contribution, indemnification or any other form of reimbursement from any other Borrower, or any other Person now or hereafter primarily or secondarily liable for any of the Obligations, for any payment made by such Borrower with respect to the Obligations in connection with this Credit Agreement or otherwise and all rights that it might have to benefit from, or to participate in, any security for the Obligations as a result of any payment made by such Borrower with respect to the Obligations in connection with this Credit Agreement or otherwise. Any agreement providing for indemnification, reimbursement or any other arrangement prohibited under this Section 12.10 11.19 shall be null and void. If any payment is made to a Borrower in contravention of this Section 12.10Section, such Borrower shall hold such payment in trust for Collateral Administrative Agent and the Lenders and such payment shall be promptly delivered to Collateral Agent Administrative Agent, for the benefit of the Secured Parties, for application to the Obligations, whether matured or unmatured.

Appears in 2 contracts

Samples: Revolving Credit and Security Agreement (Golub Capital BDC 4, Inc.), Revolving Credit and Security Agreement (Golub Capital Direct Lending Corp)

Borrower Liability. Each Either Borrower may, acting singly, request credit extensions Advances hereunder. Each Borrower hereby appoints the other as agent for the other for all purposes hereunder, including with respect to requesting credit extensions Advances hereunder. Each Borrower hereunder shall be jointly and severally obligated to repay all credit extensions Advances made hereunder, regardless of which Bxxxxxxx Borrower actually receives said credit extensionAdvance, as if each Borrower hereunder directly received all credit extensions. Each Borrower waives (a) any suretyship defenses available to it under the Code or any other applicable law, and (b) any right to require Collateral Agent or any Lender to: (i) proceed against any Borrower or any other person; (ii) proceed against or exhaust any security; or (iii) pursue any other remedy. Collateral Agent and/or any Lender may exercise or not exercise any right or remedy it has against any Borrower or any security it holds (including the right to foreclose by judicial or non-judicial sale) without affecting any Borrower’s liabilityAdvances. Notwithstanding any other provision of this Agreement or other related document, each Borrower irrevocably waives all rights that it may have at law or in equity (including, without limitation, any law subrogating Borrower to the rights of Collateral Agent and the Lenders Bank under this Agreement) to seek contribution, indemnification or any other form of reimbursement from any other Borrower, or any other Person now or hereafter primarily or secondarily liable for any of the Obligations, for any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise and all rights that it might have to benefit from, or to participate in, any security for the Obligations as a result of any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise. Any agreement providing for indemnification, reimbursement or any other arrangement prohibited under this Section 12.10 Article shall be null and void. If any payment is made to a Borrower in contravention of this Section 12.10Section, such Borrower shall hold such payment in trust for Collateral Agent and the Lenders Bank and such payment shall be promptly delivered to Collateral Agent Bank for application to the Obligations, whether matured or unmatured.

Appears in 2 contracts

Samples: Loan and Security Agreement (Global Telecom & Technology, Inc.), Loan and Security Agreement (Global Telecom & Technology, Inc.)

Borrower Liability. Each As detailed in Section 1, each Borrower may, acting singly, request credit extensions hereunder. Each has appointed EnerNOC as Agent for each Borrower hereby appoints the other as agent for the other for all purposes hereunder, including with respect to requesting credit extensions Credit Extensions hereunder. Each Borrower hereunder shall be jointly and severally obligated to repay all credit extensions Credit Extensions made hereunder, regardless of which Bxxxxxxx Borrower actually receives said credit extensionCredit Extension, as if each Borrower hereunder directly received all credit extensionsCredit Extensions. Each Borrower waives (a) waives any suretyship defenses available to it under the Code or any other applicable law, and (b) . Each Borrower waives any right to require Collateral Agent or any Lender Bank to: (i) proceed against any Borrower or any other person; (ii) proceed against or exhaust any security; or (iii) pursue any other remedy. Collateral Agent and/or any Lender Bank may exercise or not exercise any right or remedy it has against any Borrower or any security it holds (including the right to foreclose by judicial or non-judicial sale) without affecting any Borrower’s liability. Notwithstanding any other provision of this Agreement or other related document, until the Obligations (other than inchoate indemnification obligations) have been paid in full and this Agreement has been terminated, each Borrower irrevocably waives all rights that it may have at law or in equity (including, without limitation, any law subrogating Borrower to the rights of Collateral Agent and the Lenders Bank under this Agreement) to seek contribution, indemnification or any other form of reimbursement from any other Borrower, or any other Person now or hereafter primarily or secondarily liable for any of the Obligations, for any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise and all rights that it might have to benefit from, or to participate in, any security for the Obligations as a result of any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise. Any agreement providing for indemnification, reimbursement or any other arrangement prohibited under this Section 12.10 shall be null and void. If any payment is made to a Borrower in contravention of this Section 12.10Section, such Borrower shall hold such payment in trust for Collateral Agent and the Lenders Bank and such payment shall be promptly delivered to Collateral Agent Bank for application to the Obligations, whether matured or unmatured.

Appears in 2 contracts

Samples: Loan and Security Agreement (Enernoc Inc), Loan and Security Agreement (Enernoc Inc)

Borrower Liability. Each Any Borrower may, acting singly, request credit extensions Credit Extensions hereunder. Each Borrower hereby appoints the each other as agent for the other for all purposes hereunder, including with respect to requesting credit extensions Credit Extensions hereunder. Each Borrower hereunder shall be jointly and severally obligated to repay all credit extensions Credit Extensions made hereunder, regardless of which Bxxxxxxx Borrower actually receives said credit extensionCredit Extension, as if each Borrower hereunder directly received all credit extensionsCredit Extensions. Each Borrower waives (a) any suretyship defenses available to it under the Code or any other applicable law, and (b) any right to require Collateral Agent or any Lender to: (i) proceed against any Borrower or any other person; (ii) proceed against or exhaust any security; or (iii) pursue any other remedy. Collateral Agent and/or any Lender may exercise or not exercise any right or remedy it has against any Borrower or any security it holds (including the right to foreclose by judicial or non-judicial sale) without affecting any Borrower’s liability. Notwithstanding any other provision of this Agreement or other related document, each Borrower irrevocably waives all rights that it may have at law or in equity (including, without limitation, any law subrogating Borrower to the rights of Collateral Agent and the Lenders Lender under this Agreement) to seek contribution, indemnification or any other form of reimbursement from any other Borrower, or any other Person now or hereafter primarily or secondarily liable for any of the Obligations, for any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise and all rights that it might have to benefit from, or to participate in, any security for the Obligations as a result of any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise. Any agreement providing for indemnification, reimbursement or any other arrangement prohibited under this Section 12.10 9.7 shall be null and void. If any payment is made to a Borrower in contravention of this Section 12.109.7, such Borrower shall hold such payment in trust for Collateral Agent and the Lenders Lender and such payment shall be promptly delivered to Collateral Agent Lender for application to the Obligations, whether matured or unmatured.

Appears in 2 contracts

Samples: Subordination Agreement (RMG Networks Holding Corp), Subordination Agreement (RMG Networks Holding Corp)

Borrower Liability. Each Borrower may, acting singly, request credit extensions hereunder. Each Borrower hereby appoints the other as agent for the other for all purposes hereunder, including with respect to requesting credit extensions the purchase of Notes hereunder. Each Borrower hereunder shall be jointly and severally obligated to repay all credit extensions made Notes purchased hereunder, regardless of which Bxxxxxxx Borrower actually receives proceeds of said credit extensionNotes, as if each Borrower hereunder directly received proceeds of all credit extensionsNotes. Each Borrower waives (a) any suretyship defenses available to it under the Code or any other applicable law, and (b) any right to require Collateral Agent or any Lender Purchaser to: (i) proceed against any Borrower or any other person; (ii) proceed against or exhaust any security; or (iii) pursue any other remedy. Collateral Agent and/or any Lender and each Purchaser may exercise or not exercise any right or remedy it has against any Borrower or any security it holds (including the right to foreclose by judicial or non-judicial sale) without affecting any other Borrower’s liability. Notwithstanding any other provision of this Agreement or other related document, each Borrower irrevocably waives all rights that it may have at law or in equity (including, without limitation, any law subrogating Borrower to the rights of Collateral Agent and the Lenders each Purchaser under this Agreement) to seek contribution, indemnification or any other form of reimbursement from any other Borrower, or any other Person now or hereafter primarily or secondarily liable for any of the Obligations, for any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise and all rights that it might have to benefit from, or to participate in, any security for the Obligations as a result of any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise. Any agreement providing for indemnification, reimbursement or any other arrangement prohibited under this Section 12.10 shall be null and void. If any payment is made to a Borrower in contravention of this Section 12.10Section, such Borrower shall hold such payment in trust for Collateral Agent and (for the Lenders benefit of the Purchasers) and such payment shall be promptly delivered to Collateral Agent Purchasers for application to the Obligations, whether matured or unmatured.

Appears in 2 contracts

Samples: Note Purchase Agreement (Global Telecom & Technology, Inc.), Note Purchase Agreement (Global Telecom & Technology, Inc.)

Borrower Liability. Each Borrower may, acting singly, request credit extensions hereunder. Each Borrower (other than Lead Borrower) hereby appoints the other Lead Borrower as agent for the other for all purposes hereunder, including with respect to requesting credit extensions Credit Extensions hereunder. Each Borrower hereunder shall be jointly liable for the Credit Extensions and severally obligated to repay all credit extensions made hereunder, regardless of which Bxxxxxxx actually receives said credit extension, Obligations as if each Borrower hereunder directly received all credit extensionsset forth on Schedule I hereto. Each Borrower waives waives (a) any suretyship defenses available to it under the Code or any other applicable lawApplicable Law, and (b) any right to require Collateral Agent or any Lender Bank to: (i) proceed against any Borrower or any other person; (ii) proceed against or exhaust any security; or (iii) pursue any other remedy. Collateral Agent and/or any Lender Bank may exercise or not exercise any right or remedy it has against any Borrower or any security it holds (including the right to foreclose by judicial or non-judicial sale) without affecting any Borrower’s liability. Notwithstanding any other provision of this Agreement or other related document, each Borrower irrevocably waives all rights that it may have at law or in equity (including, without limitation, any law subrogating Borrower to the rights of Collateral Agent and the Lenders Bank under this Agreement) to seek contribution, indemnification or any other form of reimbursement from any other Borrower, or any other Person now or hereafter primarily or secondarily liable for any of the Obligations, for any payment made by any Borrower with respect to the Obligations in connection with this Agreement or otherwise and all rights that it might have to benefit from, or to participate in, any security for the Obligations as a result of any payment made by any Borrower with respect to the Obligations in connection with this Agreement or otherwise. Any agreement providing for indemnification, reimbursement or any other arrangement prohibited under this Section 12.10 8.8 shall be null and void. If any payment is made to a Borrower in contravention of this Section 12.108.8, such Borrower shall hold such payment in trust for Collateral Agent and the Lenders Bank and such payment shall be promptly delivered to Collateral Agent Bank for application to the Obligations, whether matured or unmatured.

Appears in 1 contract

Samples: Loan and Security Agreement (Outbrain Inc.)

Borrower Liability. Each Either Borrower may, acting singly, request credit extensions Credit Extensions hereunder. Each Borrower hereby appoints the other as agent for the other for all purposes hereunder, including with respect to requesting credit extensions Credit Extensions hereunder. Each Borrower hereunder shall be jointly and severally obligated to repay all credit extensions Credit Extensions made hereunder, regardless of which Bxxxxxxx Borrower actually receives said credit extensionCredit Extension, as if each Borrower hereunder directly received all credit extensionsCredit Extensions. Each Borrower waives (a) any suretyship defenses available to it under the Code or any other applicable law, and (b) any right to require Collateral Agent or any Lender to: (i) proceed against any Borrower or any other person; (ii) proceed against or exhaust any security; or (iii) pursue any other remedy. Collateral Agent and/or and or any Lender may exercise or not exercise any right or remedy it has against any Borrower or any security it holds (including the right to foreclose by judicial or non-judicial sale) without affecting any Borrower’s liability. Notwithstanding any other provision of this Agreement or other related document, each Borrower irrevocably indefinitely waives enforcement of all rights that it may have at law or in equity (including, without limitation, any law subrogating Borrower to the rights of Collateral Agent and the Lenders under this Agreement) to seek contribution, indemnification or any other form of reimbursement from any other Borrower, or any other Person now or hereafter primarily or secondarily liable for any of the Obligations, for any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise and all rights that it might have to benefit from, or to participate in, any security for the Obligations as a result of any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise. Any agreement providing for indemnification, reimbursement or any other arrangement prohibited under this Section 12.10 shall be null and void. If any payment is made to a Borrower in contravention of this Section 12.10Section, such Borrower shall hold such payment in trust for Collateral Agent and the Lenders and such payment shall be promptly delivered to Collateral Agent for application to the Obligations, whether matured or unmatured.

Appears in 1 contract

Samples: Loan and Security Agreement (Adma Biologics, Inc.)

Borrower Liability. Each Borrower may, acting singly, request credit extensions Credit Extensions hereunder. Each Borrower hereby appoints the other as agent for the other for all purposes hereunder, including with respect to requesting credit extensions Credit Extensions hereunder. Each Borrower hereunder shall be jointly and severally obligated to repay all credit extensions Credit Extensions made hereunder, regardless of which Bxxxxxxx Borrower actually receives said credit extensionCredit Extensions, as if each Borrower hereunder directly received all credit extensionsCredit Extensions. Each Borrower waives (a) any suretyship defenses available to it under the Code or any other applicable law, law and (b) any right to require Collateral Agent or any Lender Lenders to: (i) proceed against any Borrower or any other person; (ii) proceed against or exhaust any security; or (iii) pursue any other remedy. Collateral Agent and/or any Lender and the Lenders may exercise or not exercise any right or remedy it each has against any Borrower or any security it holds (including the right to foreclose or realize its security by judicial or non-judicial sale) without affecting any Borrower’s liability. Notwithstanding any other provision of this Agreement or other related document, each Borrower irrevocably waives all rights that it may have at law or in equity (including, without limitation, any law subrogating Borrower to the rights of Collateral Agent and or the Lenders under this Agreement) to seek contribution, indemnification or any other form of reimbursement from any other Borrower, or any other Person now or hereafter primarily or secondarily liable for any of the Obligations, for any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise and all rights that it might have to benefit from, or to participate in, any security for the Obligations as a result of any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise. Any agreement providing for indemnification, reimbursement or any other arrangement prohibited under this Section 12.10 shall be null and void. If any payment is made to a Borrower in contravention of this Section 12.10Section, such Borrower shall hold such payment in trust for Collateral Agent and the Lenders and such payment shall be promptly delivered to Collateral Agent for application to the Obligations, whether matured or unmatured.

Appears in 1 contract

Samples: Loan and Security Agreement (Eloxx Pharmaceuticals, Inc.)

Borrower Liability. Each Either Borrower may, acting singly, request credit extensions Credit Extensions hereunder. Each Borrower hereby appoints the other as agent for the other for all purposes hereunder, including with respect to requesting credit extensions Credit Extensions hereunder. Each Borrower hereunder shall be jointly and severally obligated to repay all credit extensions Credit Extensions made hereunder, regardless of which Bxxxxxxx Borrower actually receives said credit extensionCredit Extension, as if each Borrower hereunder directly received all credit extensionsCredit Extensions. Each Borrower waives (a) any suretyship defenses available to it under the Code or any other applicable law, including, without limitation, the benefit of California Civil Code Section 2815 permitting revocation as to future transactions and the benefit of California Civil Code Sections 1432, 2809, 2810, 2819, 2839, 2845, 2847, 2848, 2849, 2850, and 2899 and 3433, and (b) any right to require Collateral Agent or any Lender to: (i) proceed against any Borrower or any other person; (ii) proceed against or exhaust any security; or (iii) pursue any other remedy. Collateral Agent and/or and or any Lender may exercise or not exercise any right or remedy it has against any Borrower or any security it holds (including the right to foreclose by judicial or non-non judicial sale) without affecting any Borrower’s liability. Notwithstanding any other provision of this Agreement or other related document, each Borrower irrevocably waives all rights that it may have at law or in equity (including, without limitation, any law subrogating Borrower to the rights of Collateral Agent and the Lenders under this Agreement) to seek contribution, indemnification or any other form of reimbursement from any other Borrower, or any other Person now or hereafter primarily or secondarily liable for any of the Obligations, for any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise and all rights that it might have to benefit from, or to participate in, any security for the Obligations as a result of any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise. Any agreement providing for indemnification, reimbursement or any other arrangement prohibited under this Section 12.10 shall be null and void. If any payment is made to a Borrower in contravention of this Section 12.10Section, such Borrower shall hold such payment in trust for Collateral Agent and the Lenders and such payment shall be promptly delivered to Collateral Agent for application to the Obligations, whether matured or unmatured. 14. Section 13.1 of the Loan Agreement is hereby amended by adding the following definitions thereto in alphabetical order: 1- Month CME Term SOFR” is the 1-month CME Term SOFR reference rate as published by the CME Term SOFR Administrator on the CME Term SOFR Administrator’s Website.

Appears in 1 contract

Samples: Loan and Security Agreement (Tempest Therapeutics, Inc.)

Borrower Liability. Each Borrower may, acting singly, request credit extensions hereunder. Each Borrower hereby appoints the other as agent for the other for all purposes hereunder, including with respect to requesting credit extensions hereunder. Each Borrower hereunder shall be jointly and severally obligated to repay all credit extensions made hereunder, regardless of which Bxxxxxxx Borrower actually receives said credit extension, as if each Borrower hereunder directly received all credit extensions. Each Borrower waives (a) any suretyship defenses available to it under the Code or any other applicable law, and (b) any right to require Collateral Agent or any Lender to: (i) proceed against any Borrower or any other person; (ii) proceed against or exhaust any security; or (iii) pursue any other remedy. Collateral Agent and/or and or any Lender may exercise or not exercise any right or remedy it has against any Borrower or any security it holds (including the right to foreclose by judicial or non-judicial sale) without affecting any Borrower’s liability. Notwithstanding any other provision of this Agreement or other related document, each Borrower irrevocably waives all rights that it may have at law or in equity (including, without limitation, any law subrogating Borrower to the rights of Collateral Agent and the Lenders under this Agreement) to seek contribution, indemnification or any other form of reimbursement from any other Borrower, or any other Person now or hereafter primarily or secondarily liable for any of the Obligations, for any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise and all rights that it might have to benefit from, or to participate in, any security for the Obligations as a result of any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise. Any agreement providing for indemnification, reimbursement or any other arrangement prohibited under this Section 12.10 shall be null and void. If any payment is made to a Borrower in contravention of this Section 12.10Section, such Borrower shall hold such payment in trust for Collateral Agent and the Lenders and such payment shall be promptly delivered to Collateral Agent for application to the Obligations, whether matured or unmatured.

Appears in 1 contract

Samples: Loan and Security Agreement (Transenterix Inc.)

Borrower Liability. Each Either Borrower may, acting singly, request credit extensions Credit Extensions hereunder. Each Borrower hereby appoints the other as agent for the other for all purposes hereunder, including with respect to requesting credit extensions Credit Extensions hereunder. Each Borrower hereunder shall be jointly and severally obligated to repay all credit extensions Credit Extensions made hereunder, regardless of which Bxxxxxxx Borrower actually receives said credit extensionCredit Extension, as if each Borrower hereunder directly received all credit extensionsCredit Extensions. Each Borrower waives (a) any suretyship defenses available to it under the Code or any other applicable law, law and (b) any right to require Collateral Agent or any Lender to: (i) proceed against any Borrower or any other person; (ii) proceed against or exhaust any security; or (iii) pursue any other remedy. Collateral Agent and/or and or any Lender may exercise or not exercise any right or remedy it has against any Borrower or any security it holds (including the right to foreclose by judicial or non-judicial sale) without affecting any Borrower’s liability. Notwithstanding any other provision of this Agreement or other related document, each Borrower irrevocably waives all rights that it may have at law or in equity (including, without limitation, any law subrogating Borrower to the rights of Collateral Agent and the Lenders under this Agreement) to seek contribution, indemnification or any other form of reimbursement from any other Borrower, or any other Person now or hereafter primarily or secondarily liable for any of the Obligations, for any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise and all rights that it might have to benefit from, or to participate in, any security for the Obligations as a result of any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise. Any agreement providing for indemnification, reimbursement or any other arrangement prohibited under this Section 12.10 shall be null and void. If any payment is made to a Borrower in contravention of this Section 12.10Section, such Borrower shall hold such payment in trust for Collateral Agent and the Lenders and such payment shall be promptly delivered to Collateral Agent for application to the Obligations, whether matured or unmatured.

Appears in 1 contract

Samples: Loan and Security Agreement (Transenterix Inc.)

Borrower Liability. Each Either Borrower may, acting singly, request credit extensions Credit Extensions hereunder. Each Borrower hereby appoints the other as agent for the other for all purposes hereunder, including with respect to requesting credit extensions Advances hereunder. Each Borrower hereunder shall be jointly and severally obligated to repay all credit extensions Advances made hereunder, regardless of which Bxxxxxxx Borrower actually receives said credit extensionAdvance, as if each Borrower hereunder directly received all credit extensionsAdvances. Each Borrower waives waives (a) any suretyship defenses available to it under the Code or any other applicable law, and (b) any right to require Collateral Agent or any Lender Bank to: (i) proceed against any Borrower or any other person; (ii) proceed against or exhaust any security; or (iii) pursue any other remedy. Collateral Agent and/or any Lender Bank may exercise or not exercise any right or remedy it has against any Borrower or any security it holds (including the right to foreclose by judicial or non-judicial sale) without affecting any Borrower’s liability. Notwithstanding any other provision of this Agreement or other related document, each Borrower irrevocably waives all rights that it may have at law or in equity (including, without limitation, any law subrogating Borrower to the rights of Collateral Agent and the Lenders Bank under this Agreement) to seek contribution, indemnification or any other form of reimbursement from any other Borrower, or any other Person now or hereafter primarily or secondarily liable for any of the Obligations, for any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise and all rights that it might have to benefit from, or to participate in, any security for the Obligations as a result of any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise. Any agreement providing for indemnification, reimbursement or any other arrangement prohibited under this Section 12.10 shall be null and void. If any payment is made to a Borrower in contravention of this Section 12.10Section, such Borrower shall hold such payment in trust for Collateral Agent and the Lenders Bank and such payment shall be promptly delivered to Collateral Agent Bank for application to the Obligations, whether matured or unmatured.

Appears in 1 contract

Samples: Loan and Security Agreement (Cancer Genetics, Inc)

Borrower Liability. Each Either Borrower may, acting singly, request credit extensions Term Loans hereunder. Each Borrower hereby appoints the other as agent for the other for all purposes hereunder, including with respect to requesting credit extensions Term Loans hereunder. Each Borrower hereunder shall be jointly and severally obligated to repay all credit extensions Term Loans made hereunder, regardless of which Bxxxxxxx Borrower actually receives said credit extensionTerm Loan, as if each Borrower hereunder directly received all credit extensionsTerm Loans. Each Borrower waives waives (a) any suretyship defenses available to it under the Code or any other applicable law, law and (b) any right to require Collateral the Administrative Agent or any Lender the Lenders to: (i) proceed against any other Borrower or any other person; (ii) proceed against or exhaust any security; or (iii) pursue any other remedy. Collateral The Administrative Agent and/or any Lender and the Lenders may exercise or not exercise any right or remedy it has against any Borrower or any security it holds (including the right to foreclose by judicial or non-judicial sale) without affecting any other Borrower’s liability. Notwithstanding any other provision of this Agreement or other related document, each Borrower irrevocably waives all rights that it may have at law or in equity (including, without limitation, any law subrogating Borrower to the rights of Collateral the Administrative Agent and the Lenders under this Agreement) to seek contribution, indemnification or any other form of reimbursement from any other Borrower, or any other Person now or hereafter primarily or secondarily liable for any of the Obligations, for any payment made by any Borrower with respect to the Obligations in connection with this Agreement or otherwise and all rights that it might have to benefit from, or to participate in, any security for the Obligations as a result of any payment made by any Borrower with respect to the Obligations in connection with this Agreement or otherwise. Any agreement providing for indemnification, reimbursement or any other arrangement prohibited under this Section 12.10 shall be null and void. If any payment is made to a Borrower in contravention of this Section 12.10Section, such Borrower shall hold such payment in trust for Collateral the Administrative Agent and the Lenders and such payment shall be promptly delivered to Collateral the Administrative Agent for application to the Obligations, whether matured or unmatured.

Appears in 1 contract

Samples: Loan and Security Agreement (Horizon Pharma, Inc.)

Borrower Liability. Each Either Borrower may, acting singly, request credit extensions Credit Extensions hereunder. Each Borrower hereby appoints the other as agent for the other for all purposes hereunder, including with respect to requesting credit extensions Credit Extensions hereunder. Each Borrower hereunder shall be jointly and severally obligated to repay all credit extensions Credit Extensions made hereunder, regardless of which Bxxxxxxx Borrower actually receives said credit extensionCredit Extension, as if each Borrower hereunder directly received all credit extensionsCredit Extensions. Each Borrower waives (a) waives any suretyship defenses available to it under the Code or any other applicable law, and (b) . Each Borrower waives any right to require Collateral Agent or any Lender Bank to: (i) proceed against any Borrower or any other personPerson; (ii) proceed against or exhaust any security; or (iii) pursue any other remedy. Collateral Agent and/or any Lender Bank may exercise or not exercise any right or remedy it has against any Borrower or any security it holds (including the right to foreclose by judicial or non-judicial sale) without affecting any Borrower’s liabilityliability hereunder. Notwithstanding any other provision of this EXIM Agreement or any other related documentLoan Document, each Borrower irrevocably waives all rights that it may have at law or in equity (including, without limitation, any law subrogating Borrower to the rights of Collateral Agent and the Lenders Bank under this EXIM Agreement) to seek contribution, indemnification or any other form of reimbursement from any other Borrower, or any other Person now or hereafter primarily or secondarily liable for any of the Obligations, for any payment made by Borrower with respect to the Obligations in connection with this Agreement EXIM Agreement, any other Loan Document or otherwise and all rights that it might have to benefit from, or to participate in, any security for the Obligations as a result of any payment made by Borrower with respect to the Obligations in connection with this EXIM Agreement or otherwiseotherwise but only until such time as the Bank has been paid in full. Any agreement providing for indemnification, reimbursement or any other arrangement prohibited under this Section 12.10 12.12 shall be null and void. If any payment is made to a Borrower in contravention of this Section 12.1012.12, such Borrower shall hold such payment in trust for Collateral Agent and the Lenders Bank and such payment shall be promptly delivered to Collateral Agent Bank for application to the Obligations, whether matured or unmatured.

Appears in 1 contract

Samples: Loan and Security Agreement (Microfluidics International Corp)

Borrower Liability. Each Any Borrower may, acting singly, request credit extensions Credit Extensions hereunder. Each Borrower hereby appoints the each other Borrower as agent for the other one another for all purposes hereunder, including with respect to requesting credit extensions Credit Extensions hereunder. Each Borrower hereunder shall be jointly and severally obligated to repay all credit extensions Credit Extensions made hereunder, regardless of which Bxxxxxxx Borrower actually receives said credit extensionCredit Extension, as if each Borrower hereunder directly received all credit extensionsCredit Extensions. Each Borrower waives (a) any suretyship defenses available to it under the Code or any other applicable law, and (b) any right to require Collateral Agent or any Lender Bank to: (i) proceed against any Borrower or any other person; (ii) proceed against or exhaust any security; or (iii) pursue any other remedy. Collateral Agent and/or any Lender Bank may exercise or not exercise any right or remedy it has against any Borrower or any security it holds (including the right to foreclose by judicial or non-judicial sale) without affecting any Borrower’s liability. Notwithstanding any other provision of this Agreement or other related document, each Borrower irrevocably waives all rights that it may have at law or in equity (including, without limitation, any law subrogating Borrower to the rights of Collateral Agent and the Lenders Bank under this Agreement) to seek contribution, indemnification or any other form of reimbursement from any other Borrower, or any other Person now or hereafter primarily or secondarily liable for any of the Obligations, for any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise and all rights that it might have to benefit from, or to participate in, any security for the Obligations as a result of any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise. Any agreement providing for indemnification, reimbursement or any other arrangement prohibited under this Section 12.10 shall be null and void. If any payment is made to a Borrower in contravention of this Section 12.10Section, such Borrower shall hold such payment in trust for Collateral Agent and the Lenders Bank and such payment shall be promptly delivered to Collateral Agent Bank for application to the Obligations, whether matured or unmatured.

Appears in 1 contract

Samples: Loan and Security Agreement (InsPro Technologies Corp)

Borrower Liability. Each Borrower may, acting singly, request credit extensions hereunder. Each Borrower hereby appoints the other as agent for the other for all purposes hereunder, including with respect to requesting credit extensions hereunder. Each Borrower hereunder shall be jointly and severally obligated to repay all credit extensions Term Loan Advances made hereunder, regardless of which Bxxxxxxx Xxxxxxxx actually receives said credit extensionTerm Loan Advance, as if each Borrower hereunder directly received all credit extensionsTerm Loan Advances. Each Borrower waives waives (a) any suretyship defenses available to it under the Code or any other applicable law, and (b) any right to require Collateral Agent or any Lender to: (i) proceed against any Borrower or any other person; (ii) proceed against or exhaust any security; or (iii) pursue any other remedy. Collateral Agent and/or any Lender may exercise or not exercise any right or remedy it has against any Borrower or any security it holds (including the right to foreclose by judicial or non-judicial sale) without affecting any Borrower’s liability. Notwithstanding any other provision of this Agreement or other related document, each Borrower irrevocably waives all rights that it may have at law or in equity (including, without limitation, any law subrogating Borrower to the rights of Collateral Agent and the Lenders under this Agreement) to seek contribution, indemnification or any other form of reimbursement from any other Borrower, or any other Person now or hereafter primarily or secondarily liable for any of the Secured Obligations, for any payment made by such Borrower with respect to the Secured Obligations in connection with this Agreement or otherwise and all rights that it might have to benefit from, or to participate in, any security for the Obligations as a result of any payment made by such Borrower with respect to the Secured Obligations in connection with this Agreement or otherwise. Any agreement providing for indemnification, reimbursement or any other arrangement prohibited under this Section 12.10 shall be null and void. If any payment is made to a Borrower in contravention of this Section 12.1010.12, such Borrower shall hold such payment in trust for Collateral Agent and the Lenders and such payment shall be promptly delivered to Collateral Agent Agent, for the ratable benefit of Lenders, for application to the Obligations, whether matured or unmatured.

Appears in 1 contract

Samples: Loan and Security Agreement (PARTS iD, Inc.)

Borrower Liability. Each Any Borrower may, acting singly, request credit extensions Credit Extensions hereunder. Each Borrower hereby appoints the each other as agent for the other for all purposes hereunder, including with respect to requesting credit extensions Credit Extensions hereunder. Each Borrower hereunder shall be jointly and severally obligated to repay all credit extensions Credit Extensions made hereunder, regardless of which Bxxxxxxx Borrower actually receives said credit extensionCredit Extension, as if each Borrower hereunder directly received all credit extensionsCredit Extensions. Each Borrower waives (a) any suretyship defenses available to it under the Code or any other applicable law, and (b) any right to require Collateral Agent or any Lender Bank to: (i) proceed against any Borrower or any other person; (ii) proceed against or exhaust any security; or (iii) pursue any other remedy. Collateral Agent and/or any Lender Bank may exercise or not exercise any right or remedy it has against any Borrower or any security it holds (including the right to foreclose by judicial or non-judicial sale) without affecting any Borrower’s liability. Notwithstanding any other provision of this Agreement or other related document, each Borrower irrevocably waives all rights that it may have at law or in equity (including, without limitation, any law subrogating Borrower to the rights of Collateral Agent and the Lenders Bank under this Agreement) to seek contribution, indemnification or any other form of reimbursement from any other Borrower, or any other Person now or hereafter primarily or secondarily liable for any of the Obligations, for any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise and all rights that it might have to benefit from, or to participate in, any security for the Obligations as a result of any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise. Any agreement providing for indemnification, reimbursement or any other arrangement prohibited under this Section 12.10 12.17 shall be null and void. If any payment is made to a Borrower in contravention of this Section 12.1012.17, such Borrower shall hold such payment in trust for Collateral Agent and the Lenders Bank and such payment shall be promptly delivered to Collateral Agent Bank for application to the Obligations, whether matured or unmatured.

Appears in 1 contract

Samples: Loan and Security Agreement (Stereotaxis, Inc.)

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