Common use of Borrower’s Obligations Absolute Clause in Contracts

Borrower’s Obligations Absolute. The obligations of the Borrower ------------------------------- under this Agreement shall be direct and immediate and not conditional or contingent upon the pursuit of any other remedies against the Borrower or any other Person, nor against other security or liens available to the Lender or its successors, assigns or agents. The Borrower hereby waives any right to require that an action be brought against any other Person or require that resort be had to any security or to any balance of any deposit account or credit on the books of the Lender in favor of any other Person prior to any exercise of rights or remedies hereunder, or to require resort to rights or remedies of the Lender in connection with the Loan.

Appears in 2 contracts

Samples: Loan and Stock Pledge Agreement (Crescent Banking Co), Loan and Stock Pledge Agreement (Community National Bancorporation)

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Borrower’s Obligations Absolute. The obligations of the Borrower ------------------------------- --------------------------------- under this Agreement shall be direct and immediate and not conditional or contingent upon the pursuit of any other remedies against the Borrower or any other Person, nor against other security or liens available to the Lender or its successors, assigns or agents. The Borrower hereby waives any right to require that an action be brought against any other Person or require that resort be had to any security or to any balance of any deposit account or credit on the books of the Lender in favor of any other Person prior to any exercise of rights or remedies hereunder, or to require resort to rights or remedies of the Lender in connection with the Loan.

Appears in 2 contracts

Samples: Loan and Stock Pledge Agreement (Pab Bankshares Inc), Loan and Stock Pledge Agreement (Community First Bancorp Inc)

Borrower’s Obligations Absolute. The obligations of the Borrower under ------------------------------- under this Agreement shall be direct and immediate and not conditional or contingent upon the pursuit of any other remedies against the Borrower or any other Person, nor against other security or liens available to the Lender or its successors, assigns or agents. The Borrower hereby waives any right to require that an action be brought against any other Person or require that resort be had to any security or to any balance of any deposit account or credit on the books of the Lender in favor of any other Person prior to any exercise of rights or remedies hereunder, or to require resort to rights or remedies of the Lender in connection with the Loan.

Appears in 1 contract

Samples: Loan and Stock Pledge Agreement (Community Trust Financial Services Corporation)

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Borrower’s Obligations Absolute. The obligations of the Borrower Borrowers ------------------------------- under this Agreement shall be direct and immediate and not conditional or contingent upon the pursuit of any other remedies against any of the Borrower Borrowers or any other Person, nor against other security or liens available to the Lender or its successors, assigns or agents. The Each Borrower hereby waives any right to require that an action be brought against any other Person or require that resort be had to any security or to any balance of any deposit account or credit on the books of the Lender in favor of any other Person prior to any exercise of rights or remedies hereunder, or to require resort to rights or remedies of the Lender in connection with any of the LoanLoans.

Appears in 1 contract

Samples: Loan and Security Agreement (Premier Bancshares Inc /Ga)

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