Common use of Continuing Liability under Assigned Agreements Clause in Contracts

Continuing Liability under Assigned Agreements. Notwithstanding anything to the contrary contained herein, (a) Guarantor shall remain liable under each of the Assigned Agreements to which it is a party to perform all of the obligations undertaken by it thereunder, all in accordance with and pursuant to the terms and provisions thereof, and (b) Security Agent shall have no obligation or liability under any of such Assigned Agreements by reason of or arising out of this Agreement, nor shall Security Agent be required or obligated in any manner to perform or fulfill any obligations of Guarantor thereunder or to make any payment or inquiry as to the nature or sufficiency of any payment received by it, or present or file any claim, or take any action to collect or enforce the payment of any amounts which may have been assigned to it or to which it may be entitled at any time.