Common use of Borrowers Remain Liable Clause in Contracts

Borrowers Remain Liable. Notwithstanding anything in this Agreement, (a) except to the extent of ACFS's duties under this Agreement, each Borrower shall remain liable under the Series Transaction Documents to which it is a party (the "Borrower Agreements") to perform all of its duties and obligations thereunder to the same extent as if this Agreement had not been executed, (b) the exercise by a Secured Party or the Master Collateral Agent of any of its rights under this Agreement shall not release any Borrower or ACFS from any of their respective duties or obligations under the Borrower Agreements to which it is a party or other agreements included in the Collateral, (c) the Revolver Collateral Agent, the Secured Parties and the Master Collateral Agent shall not have any obligation or liability under the Borrower Agreements to which it is a party or other agreements included in the Collateral by reason of this Agreement, and (d) neither the Revolver Collateral Agent, the Master Collateral Agent nor any of the Secured Parties shall be obligated to perform any of the obligations or duties of the Borrowers or ACFS under the Borrower Agreements or other agreements included in the Collateral or to take any action to collect or enforce any claim for payment assigned under this Agreement.

Appears in 2 contracts

Samples: Collateral and Intercreditor Agreement (Americredit Financial Services Inc), Trust Agreement (Americredit Corp)

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Borrowers Remain Liable. Notwithstanding anything in this AgreementAgreement to the contrary, (a) except to the extent of ACFS's duties under this Agreement, each Borrower and the Servicer shall remain liable under the Series Transaction Documents to which it is a party (Pool Receivables, Borrower Assigned Agreements and other agreements included in the "Borrower Agreements") Collateral to perform all of its their respective duties and obligations thereunder to the same extent as if this Agreement had not been executed, (b) the exercise by a the Administrative Agent as agent of the Secured Party or the Master Collateral Agent Parties of any of its rights under this Agreement shall not release any Borrower the Borrowers or ACFS the Servicer from any of their respective duties or obligations under the Receivables, the Borrower Assigned Agreements to which it is a party or other agreements included in the Collateral, (c) the Revolver Collateral Agent, Administrative Agent as agent of the Secured Parties and the Master Collateral Agent shall not have any obligation or liability under the Pool Receivables, the Borrower Assigned Agreements to which it is a party or other agreements included in the Collateral by reason of this Agreement, and (d) neither the Revolver Collateral Agent, the Master Collateral Administrative Agent nor any of the Secured Parties Lenders shall be obligated to perform any of the obligations or duties of the Borrowers or ACFS the Servicer under the Pool Receivables, the Borrower Assigned Agreements or other agreements included in the Collateral or to take any action to collect or enforce any claim for payment assigned under this Agreement.

Appears in 2 contracts

Samples: Receivables Financing Agreement (Herc Holdings Inc), Receivables Financing Agreement (Herc Holdings Inc)

Borrowers Remain Liable. Notwithstanding anything in this Agreement, (a) except Anything herein to the extent of ACFS's duties under this Agreement, each Borrower contrary notwithstanding: (1) Borrowers shall remain liable under the Series Transaction Documents contracts and agreements included in the Collateral to which it is a party (the "Borrower Agreements") extent set forth therein to perform all of its duties and obligations thereunder to the same extent as if this Agreement or the other Loan Documents had not been executed, ; (b2) the exercise by a Secured Party or the Master Collateral Agent of any of its the rights under this Agreement or the other Loan Documents shall not release any Borrower or ACFS Borrowers from any of their respective duties or obligations to the parties under the Borrower Agreements to which it is a party or other contracts and agreements included in the Collateral, ; (c3) the Revolver Collateral Agent, the Secured Parties and the Master neither Collateral Agent nor any Lender shall not have any obligation or liability under the Borrower Agreements to which it is a party or other contracts and agreements included in the Collateral by reason of this AgreementAgreement or the other Loan Documents, and (d) neither the Revolver Collateral Agent, the Master nor shall Collateral Agent nor any of the Secured Parties shall Lender be obligated to perform any of the obligations or duties of the Borrowers or ACFS under the Borrower Agreements or other agreements included in the Collateral thereunder or to take any action to collect or enforce any claim for payment assigned under this AgreementAgreement or the other Loan Documents; and (4) neither Collateral Agent nor any Lender shall have any liability in contract or tort for Borrowers' acts or omissions with respect to the agreements included in the Collateral, unless such acts or omissions occur under protest by the applicable Borrower pursuant to written direction of Collateral Agent or Lender, which direction constitutes gross negligence or willful misconduct on the part of Collateral Agent or Lender.

Appears in 2 contracts

Samples: Loan and Security Agreement (Sun Healthcare Group Inc), Loan and Security Agreement (Sun Healthcare Group Inc)

Borrowers Remain Liable. Notwithstanding anything in this Agreement, Anything herein to the contrary notwithstanding: (a) except to the extent of ACFS's duties under this Agreement, each Borrower Borrowers shall remain liable under the Series Transaction Documents contracts and agreements included in the Collateral to which it is a party (the "Borrower Agreements") extent set forth therein to perform all of its their duties and obligations thereunder to the same extent as if this Agreement or the other Loan Documents had not been executed, ; (b) the exercise by a Secured Party the the Agent or the Master Collateral Agent Lenders of any of its their respective rights under this Agreement or the other Loan Documents shall not release any Borrower or ACFS Borrowers from any of their respective duties or obligations to the parties under the Borrower Agreements to which it is a party or other contracts and agreements included in the Collateral, ; (c) neither the Revolver Collateral Agent, the Secured Parties and the Master Collateral Agent nor any Lender shall not have any obligation or liability under the Borrower Agreements to which it is a party or other contracts and agreements included in the Collateral by reason of this AgreementAgreement or the other Loan Documents, and (d) neither the Revolver Collateral Agent, the Master Collateral Agent nor any of the Secured Parties Lender shall be obligated to perform any of the obligations or duties of the Borrowers or ACFS under the Borrower Agreements or other agreements included in the Collateral thereunder or to take any action to collect or enforce any claim for payment assigned under this AgreementAgreement or the other Loan Documents; and (d) neither Agent nor any Lender shall have any liability in contract or tort for Borrowers' acts or omissions.

Appears in 1 contract

Samples: Loan Agreement (Vitesse Semiconductor Corp)

Borrowers Remain Liable. Notwithstanding anything in this Agreement, (a) except Anything herein to the extent of ACFS's duties under this Agreement, each Borrower contrary notwithstanding: (1) Borrowers shall remain liable under the Series Transaction Documents contracts and agreements included in the Collateral to which it is a party (the "Borrower Agreements") extent set forth therein to perform all of its duties and obligations thereunder to the same extent as if this Agreement or the other Loan Documents had not been executed, ; (b2) the exercise by a Secured Party or the Master Collateral Agent Agents of any of its the rights under this Agreement or the other Loan Documents shall not release any Borrower or ACFS Borrowers from any of their respective duties or obligations to the parties under the Borrower Agreements to which it is a party or other contracts and agreements included in the Collateral, ; (c3) the Revolver Collateral Agent, the Secured Parties and the Master Collateral Agent neither Agents nor any Lender shall not have any obligation or liability under the Borrower Agreements to which it is a party or other contracts and agreements included in the Collateral by reason of this AgreementAgreement or the other Loan Documents, and (d) neither the Revolver Collateral Agent, the Master Collateral Agent nor shall Agents nor any of the Secured Parties shall Lender be obligated to perform any of the obligations or duties of the Borrowers or ACFS under the Borrower Agreements or other agreements included in the Collateral thereunder or to take any action to collect or enforce any claim for payment assigned under this AgreementAgreement or the other Loan Documents; and (4) neither Agents nor any Lender shall have any liability in contract or tort for Borrowers' acts or omissions with respect to the agreements included in the Collateral, unless such acts or omissions occur under protest by the applicable Borrower pursuant to written direction of any Agent or Lender, which direction constitutes gross negligence or willful misconduct on the part of such Agent or Lender.

Appears in 1 contract

Samples: Loan and Security Agreement (Sun Healthcare Group Inc)

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Borrowers Remain Liable. Notwithstanding anything in this Agreement, Anything herein to the contrary notwithstanding: (a) except to the extent of ACFS's duties under this Agreement, each Borrower Borrowers shall remain liable under the Series Transaction Documents contracts and agreements included in the Collateral to which it is a party (the "Borrower Agreements") extent set forth therein to perform all of its their duties and obligations thereunder to the same extent as if this Agreement or the other Loan Documents had not been executed, ; (b) the exercise by a Secured Party the the Agent or the Master Collateral Agent Lenders of any of its their respective rights under this Agreement or the other Loan Documents shall not release any Borrower or ACFS Borrowers from any of their respective duties or obligations to the parties under the Borrower Agreements to which it is a party or other contracts and agreements included in the Collateral, ; (c) neither the Revolver Collateral Agent, the Secured Parties and the Master Collateral Agent nor any Lender shall not have any obligation or liability under the Borrower Agreements to which it is a party or other contracts and agreements included in the Collateral by reason of this AgreementAgreement or the other Loan Documents, and (d) neither the Revolver Collateral Agent, the Master Collateral Agent nor any of the Secured Parties Lender shall be obligated to perform any of the obligations or duties of the Borrowers or ACFS under the Borrower Agreements or other agreements included in the Collateral thereunder or to take any action to collect or enforce any claim for payment assigned under this AgreementAgree ment or the other Loan Documents; and (d) neither Agent nor any Lender shall have any liability in contract or tort for Borrowers' acts or omissions.

Appears in 1 contract

Samples: Loan Agreement (Vitesse Semiconductor Corp)

Borrowers Remain Liable. Notwithstanding anything in this Agreement, (a) except Anything herein to the extent of ACFS's duties under this Agreement, each Borrower contrary notwithstanding: (i) Borrowers shall remain liable under the Series Transaction Documents contracts and agreements included in the Collateral to which it is a party (the "Borrower Agreements") extent set forth therein to perform all of its their duties and obligations thereunder to the same extent as if this Agreement or the other Loan Documents had not been executed, ; (bii) the exercise by a Secured Party or the Master Collateral Agent of any of its the rights under this Agreement or the other Loan Documents shall not release any Borrower or ACFS Borrowers from any of their respective its duties or obligations to the parties under the Borrower Agreements to which it is a party or other contracts and agreements included in the Collateral, ; (ciii) the Revolver Collateral Agent, the Secured Parties and the Master Collateral neither Agent nor any Lender shall not have any obligation or liability under the Borrower Agreements to which it is a party or other contracts and agreements included in the Collateral by reason of this AgreementAgreement or the other Loan Documents, and (d) neither the Revolver Collateral Agent, the Master Collateral nor shall Agent nor any of the Secured Parties shall Lender be obligated to perform any of the obligations or duties of the Borrowers or ACFS under the any Borrower Agreements or other agreements included in the Collateral thereunder or to take any action to collect or enforce any claim for payment assigned under this AgreementAgreement or the other Loan Documents; and (iv) neither Agent nor any Lender shall have any liability in contract or tort for any Borrower’s acts or omissions.

Appears in 1 contract

Samples: Loan and Security Agreement (Green Plains Inc.)

Borrowers Remain Liable. Notwithstanding anything in this Agreement, (a) except to the extent of ACFS's duties under the Credit Agreement and this Agreement, each Borrower shall remain liable under the Series Transaction Documents to which it is a party (the "Borrower Agreements") to perform all of its duties and obligations thereunder to the same extent as if this Agreement had not been executed, (b) the exercise by a Secured Party or the Master Lender Collateral Agent of any of its rights under this Agreement or the Credit Agreement shall not release any Borrower or ACFS from any of their respective duties or obligations under the Borrower Agreements to which it is a party or other agreements included in the Revolver Collateral, (c) the Revolver Collateral Administrative Agent, the Secured Parties and the Master Lender Collateral Agent shall not have any obligation or liability under the Borrower Agreements to which it is a party or other agreements included in the Revolver Collateral by reason of this Agreement or the Credit Agreement, and (d) neither the Revolver Collateral Administrative Agent, the Master Lender Collateral Agent nor any of the Secured Parties shall be obligated to perform any of the obligations or duties of the Borrowers or ACFS under the Borrower Agreements or other agreements included in the Revolver Collateral or to take any action to collect or enforce any claim for payment assigned under this Agreement.

Appears in 1 contract

Samples: Americredit Financial Services Inc

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