Common use of Character of Obligation Clause in Contracts

Character of Obligation. The Guarantee set forth in this Section 23 is a primary and original obligation of each Guarantor and is an absolute, unconditional, continuing and irrevocable guarantee of payment and performance (and not of collectibility) and shall remain in full force and effect until the full, final and indefeasible payment of the Guaranteed Obligations without respect to future changes in conditions. The obligations of the Guarantors under this Section 23 are joint and several. The obligations of each Guarantor under this Guarantee and the rights of the holders of Notes to enforce such obligations by any proceedings, whether by action at law, suit in equity or otherwise, shall not be subject to any reduction, limitation, impairment or termination, whether by reason of any claim of any character whatsoever or otherwise, including, without limitation, claims of waiver, release, surrender, alteration or compromise, and shall not be subject to any defense (other than the defense that the Guaranteed Obligations shall have been fully and finally performed and indefeasible paid), set-off, counterclaim, recoupment or termination whatsoever. Without limiting the generality of the foregoing and to the fullest extent permitted by applicable law, the obligations of each Guarantor hereunder shall not be discharged or impaired or otherwise affected by:

Appears in 3 contracts

Samples: Pledge Agreement (Hampshire Group LTD), Pledge Agreement (Hampshire Group LTD), Pledge Agreement (Hampshire Group LTD)

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Character of Obligation. The Guarantee Guaranty set forth in this Section 23 is a primary and original obligation of each Subsidiary Guarantor and is an absolute, unconditional, continuing and irrevocable guarantee of payment and performance (and not of collectibilitycollectability) and shall remain in full force and effect until the full, final and indefeasible payment in cash of the Guaranteed Obligations without respect to future changes in conditions. The obligations of the Guarantors under this , except as provided in Section 23 are joint and several9.11. The obligations of each Subsidiary Guarantor under this Subsidiary Guarantee Agreement and the rights of the holders of Notes to enforce such obligations by any proceedings, whether by action at law, suit in equity or otherwise, shall not be subject to any reduction, limitation, impairment or termination, whether by reason of any claim of any character whatsoever or otherwise, including, without limitation, claims of waiver, release, surrender, alteration or compromise, and shall not be subject to any defense (other than the defense that the Guaranteed Obligations shall have been fully and finally performed and indefeasible paid)defense, set-off, counterclaim, recoupment or termination whatsoever. Without limiting the generality of the foregoing and to the fullest extent permitted by applicable lawforegoing, the obligations of each Subsidiary Guarantor hereunder shall not be discharged or impaired or otherwise affected by:

Appears in 2 contracts

Samples: Note Purchase Agreement (UTi WORLDWIDE INC), Note Purchase Agreement (UTi WORLDWIDE INC)

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Character of Obligation. The Guarantee set forth in this Section 23 herein is a primary and original obligation of each Subsidiary Guarantor and is an absolute, unconditional, continuing and irrevocable guarantee of payment and performance (and not of collectibility) and shall remain in full force and effect until the full, final and indefeasible payment of the Guaranteed Obligations without respect to future changes in conditions. The obligations of the Subsidiary Guarantors under this Section 23 hereunder, to the extent that there is more than one Subsidiary Guarantor, are joint and several. The obligations of each Subsidiary Guarantor under this Guarantee and the rights of the holders of Notes to enforce such obligations by any proceedings, whether by action at law, suit in equity or otherwise, shall not be subject to any reduction, limitation, impairment or termination, whether by reason of any claim of any character whatsoever or otherwise, including, without limitation, claims of waiver, release, surrender, alteration or compromise, and shall not be subject to any defense (other than the defense that the Guaranteed Obligations shall have been fully and finally performed and indefeasible paid)defense, set-off, counterclaim, recoupment or termination whatsoever. Without limiting the generality of the foregoing and to the fullest extent permitted by applicable lawforegoing, the obligations of each Subsidiary Guarantor hereunder shall not be discharged or impaired or otherwise affected by:

Appears in 1 contract

Samples: Note Purchase Agreement (Deltic Timber Corp)

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