Common use of Borrowers Remain Liable Clause in Contracts

Borrowers Remain Liable. Anything herein to the contrary notwithstanding, (a) the Borrowers shall remain liable under the contracts and agreements included in the Collateral, to perform all of its respective duties and obligations thereunder to the same extent as if this Agreement had not been executed, (b) the exercise by Agent of any of the rights hereunder shall not release any Borrower from any of its duties or obligations under such contracts and agreements included in the Collateral, and (c) no Borrower shall have any obligation or liability under such contracts and agreements included in the Collateral by reason of this Agreement, or shall Agent be obligated to perform any of the obligations or duties of a Borrower thereunder or to take any action to collect or enforce any claim for payment assigned hereunder. Until an Event of Default shall occur and be continuing, except as otherwise provided in this Agreement, or any other Loan Document, each Borrower shall have the right to possession and enjoyment of the Collateral that it owns, subject to and upon the terms hereof and the other Loan Documents.

Borrowers Remain Liable. Anything ----------------------- herein to the contrary notwithstanding, (a) the Borrowers shall remain liable under the contracts and agreements included in the Collateral, Collateral to the extent set forth therein to perform all of its respective duties and obligations thereunder to the same extent as if this Agreement had not been executed, (b) the exercise by the Agent of any of the rights hereunder shall not release any Borrower from any of its duties or obligations under such the contracts and agreements included in the Collateral, and (c) no Borrower neither the Agent, any Issuing Bank, nor any Lender shall have any obligation or liability under such the contracts and agreements included in the Collateral by reason of this Agreement, or nor shall Agent the Agent, any Issuing Bank, nor any Lender be obligated to perform any of the obligations or duties of a any Borrower thereunder or to take any action to collect or enforce any claim for payment assigned hereunder. Until an Event of Default shall occur and be continuing, except as otherwise provided in this Agreement, or any other Loan Document, each Borrower shall have the right to possession and enjoyment of the Collateral that it owns, subject to and upon the terms hereof and the other Loan Documents.