Common use of Debtor Remains Liable under Accounts and Contracts Clause in Contracts

Debtor Remains Liable under Accounts and Contracts. Anything herein to the contrary notwithstanding, the Debtor shall remain liable under each of the Accounts and Contracts to observe and perform all the conditions and obligations to be observed and performed by it thereunder, all in accordance with the terms of any agreement giving rise to each such Account and in accordance with and pursuant to the terms and provisions of each such Contract. The Agent shall not shall have any obligation or liability under any Account (or any agreement giving rise thereto) or under any Contract by reason of or arising out of this Security Agreement or the receipt by the Agent of any payment relating to such Account or Contract pursuant hereto, nor shall the Agent be obligated in any manner to perform any of the obligations of the Debtor under or pursuant to any Account (or any agreement giving rise thereto) or under or pursuant to any Contract, to make any payment, to make any inquiry as to the nature or the sufficiency of any payment received by it or as to the sufficiency of any performance by any party under any Account (or any agreement giving rise thereto) or under any Contract, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts which may have been assigned to it or to which it may be entitled at any time or times.

Appears in 3 contracts

Samples: Security Agreement (Virtual Piggy, Inc.), Security Agreement (Virtual Piggy, Inc.), Security Agreement (Axs One Inc)

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Debtor Remains Liable under Accounts and Contracts. Anything herein to the contrary notwithstandingNotwithstanding any provision of this Agreement, the Debtor shall will remain liable under each of the documents giving rise to the Accounts and under each of the Contracts to observe and perform all the conditions and obligations to be observed and performed by it the Debtor thereunder, all in accordance with the terms of any agreement giving rise to each such Account document and in accordance with and pursuant to the terms and provisions of each such Contract. The Administrative Agent shall not shall will have any no obligation or liability under any Account (or any agreement document giving rise thereto) or under any Contract by reason of or arising out of this Security Agreement or the receipt by the Administrative Agent of any payment relating to such Account or Contract pursuant hereto, nor shall and in particular (but without limitation), the Administrative Agent will not be obligated in any manner to perform any of the obligations of the Debtor under or pursuant to any Account (or any agreement document giving rise thereto) or under or pursuant to any Contract, to make any payment, to make any inquiry as to the nature or the sufficiency of any payment received by it or as to the sufficiency of any performance by any party under any Account (or any agreement document giving rise thereto) or under any Contract, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts which may have been assigned to it or to which it may be entitled at any time or timestime.

Appears in 2 contracts

Samples: General Security Agreement (Richardson Electronics LTD/De), General Security Agreement (Richardson Electronics LTD/De)

Debtor Remains Liable under Accounts and Contracts. Anything herein to the contrary notwithstanding, the Debtor shall remain liable under each of the Accounts and Contracts to observe and perform all the conditions and obligations to be observed and performed by it thereunder, all in accordance with the terms of any agreement giving rise to each such Account and in accordance with and pursuant to the terms and provisions of each such Contract. The Agent Secured Party shall not shall have any obligation or liability under any Account (or any agreement giving rise thereto) or under any Contract by reason of or arising out of this Security Agreement or the receipt by the Agent Secured Party of any payment relating to such Account or Contract pursuant hereto, nor shall the Agent Secured Party be obligated in any manner to perform any of the obligations of the Debtor under or pursuant to any Account (or any agreement giving rise thereto) or under or pursuant to any Contract, to make any payment, to make any inquiry as to the nature or the sufficiency of any payment received by it or as to the sufficiency of any performance by any party under any Account (or any agreement giving rise thereto) or under any Contract, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts which may have been assigned to it or to which it may be entitled at any time or times.

Appears in 1 contract

Samples: Security Agreement (Edac Technologies Corp)

Debtor Remains Liable under Accounts and Contracts. Anything herein to the contrary notwithstandingNotwithstanding any provision of this Agreement, the Debtor shall remain liable under each of the documents giving rise to the Accounts of the Debtor and Contracts under each of its contracts to observe and perform all the conditions and obligations to be observed and performed by it the Debtor thereunder, all in accordance with the terms of any agreement giving rise to each such Account document and in accordance with and pursuant to contract. Neither the terms and provisions of each such Contract. The Agent shall not nor any other Secured Party shall have any obligation or liability under any Account account of the Debtor (or any agreement document giving rise thereto) or under any Contract contract of the Debtor by reason of or arising out of this Security Agreement or the receipt by the Agent of any payment relating to such Account account or Contract contract pursuant hereto, nor shall and in particular (but without limitation), neither the Agent nor any other Secured Party shall be obligated in any manner to perform any of the obligations of the Debtor under or pursuant to any Account account (or any agreement document giving rise thereto) or under or pursuant to any Contract, contract of the Debtor to make any payment, to make any inquiry as to the nature or the sufficiency of any payment received by it or as to the sufficiency of any performance by any party under any Account (or any agreement document giving rise thereto) or under any Contractcontract, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts which may have been assigned to it or to which it may be entitled at any time or timestime.

Appears in 1 contract

Samples: Security Agreement (Audioeye Inc)

Debtor Remains Liable under Accounts and Contracts. Anything herein to the contrary notwithstandingNotwithstanding any provision of this Agreement, the Debtor shall will remain liable under each of the documents giving rise to the Accounts of the Debtor and under each of the Contracts to observe and perform all the conditions and obligations to be observed and performed by it the Debtor thereunder, all in accordance with the terms of any agreement giving rise to each such Account document and in accordance with and pursuant to the terms and provisions of each such Contract. The Neither the Agent shall not shall nor any Lender will have any General Security Agreement obligation or liability under any Account of the Debtor (or any agreement document giving rise thereto) or under any Contract by reason of or arising out of this Security Agreement or the receipt by the Agent of any payment relating to such Account or Contract pursuant hereto, nor shall and in particular (but without limitation), neither the Agent nor any Lender will be obligated in any manner to perform any of the obligations of the Debtor under or pursuant to any Account (or any agreement document giving rise thereto) or under or pursuant to any Contract, Contract to make any payment, to make any inquiry as to the nature or the sufficiency of any payment received by it or as to the sufficiency of any performance by any party under any Account (or any agreement document giving rise thereto) or under any Contract, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts which may have been assigned to it or to which it may be entitled at any time or timestime.

Appears in 1 contract

Samples: General Security Agreement (Royal Gold Inc)

Debtor Remains Liable under Accounts and Contracts. Anything herein to the contrary notwithstandingNotwithstanding any provision of this Agreement, the Debtor shall will remain liable under each of the documents giving rise to the Accounts of the Debtor and under each of the Contracts to observe and perform all the conditions and obligations to be observed and performed by it the Debtor thereunder, all in accordance with the terms of any agreement giving rise to each such Account document and in accordance with and pursuant to the terms and provisions of each such Contract. The Agent shall not shall Creditor will have any no obligation or liability under any Account of the Debtor (or any agreement document giving rise thereto) or under any Contract by reason of or arising out of this Security Agreement or the receipt by the Agent Creditor of any payment relating to such Account or Contract pursuant hereto, nor shall and in particular (but without limitation), the Agent Creditor will not be obligated in any manner to perform any of the obligations of the Debtor under or pursuant to any Account (or any agreement document giving rise thereto) or under or pursuant to any Contract, Contract to make any payment, to make any inquiry as to the nature or the sufficiency of any payment received by it or as to the sufficiency of any performance by any party under any Account (or any agreement document giving rise Table of Contents thereto) or under any Contract, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts which may have been assigned to it or to which it may be entitled at any time or timestime.

Appears in 1 contract

Samples: Credit Agreement (Mirion Technologies, Inc.)

Debtor Remains Liable under Accounts and Contracts. Anything herein to the contrary notwithstanding, the Debtor shall remain liable under each of the Accounts and Contracts to observe and perform all the conditions and obligations to be observed and performed by it thereunder, all in accordance with the terms of any agreement giving rise to each such Account and in accordance with and pursuant to the terms and provisions of each such Contract. The Agent shall not None of the Secured Parties shall have any obligation or liability under any Account (or any agreement giving rise thereto) or under any Contract by reason of or arising out of this Security Agreement or the receipt by the Agent any Secured Party of any payment relating to such Account or Contract pursuant hereto, nor shall the Agent any Secured Party be obligated in any manner to perform any of the obligations of the Debtor under or pursuant to any Account (or any agreement giving rise thereto) or under or pursuant to any Contract, to make any payment, to make any inquiry as to the nature or the sufficiency of any payment received by it or as to the sufficiency of any performance by any party under any Account (or any agreement giving rise thereto) or under any Contract, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts which may have been assigned to it or to which it may be entitled at any time or times.

Appears in 1 contract

Samples: Security Agreement (Access Pharmaceuticals Inc)

Debtor Remains Liable under Accounts and Contracts. Anything herein to the contrary notwithstanding, the Debtor shall remain liable under each of the Accounts and Contracts to observe and perform all the conditions and obligations to be observed and performed by it thereunder, all in accordance with the terms of any agreement giving rise to each such Account and in accordance with and pursuant to the terms and provisions of each such Contract. The Agent shall not shall have any obligation or liability under any Account (or any agreement giving rise thereto) or under any Contract by reason of or arising out of this Amended and Restated Security Agreement or the receipt by the Agent of any payment relating to such Account or Contract pursuant hereto, nor shall the Agent be obligated in any manner to perform any of the obligations of the Debtor under or pursuant to any Account (or any agreement giving rise thereto) or under or pursuant to any Contract, to make any payment, to make any inquiry as to the nature or the sufficiency of any payment received by it or as to the sufficiency of any performance by any party under any Account (or any agreement giving rise thereto) or under any Contract, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts which may have been assigned to it or to which it may be entitled at any time or times.

Appears in 1 contract

Samples: Security Agreement (Virtual Piggy, Inc.)

Debtor Remains Liable under Accounts and Contracts. Anything herein to the contrary notwithstanding, the Debtor shall remain liable under each of the Accounts and Contracts to observe and perform all the conditions and obligations to be observed and performed by it thereunder, all in accordance with the terms of any agreement giving rise to each such Account and in accordance with and pursuant to the terms and provisions of each such Contract. The Neither the Agent shall not nor any Bank shall have any obligation or liability under any Account (or any agreement giving rise thereto) or under any Contract by reason of or arising out of this Security Agreement or the receipt by the Agent or any such Bank of any payment relating to such Account or Contract pursuant hereto, nor shall the Agent or any Bank be obligated in any manner to perform any of the obligations of the Debtor under or pursuant to any Account (or any agreement giving rise thereto) or under or pursuant to any Contract, to make any payment, to make any inquiry as to the nature or the sufficiency of any payment received by it or as to the sufficiency of any performance by any party under any Account (or any agreement giving rise thereto) or under any Contract, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts which may have been assigned to it or to which it may be entitled at any time or times.

Appears in 1 contract

Samples: Credit Agreement (Dairy Mart Convenience Stores Inc)

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Debtor Remains Liable under Accounts and Contracts. Anything herein to the contrary notwithstanding, the Debtor shall remain liable under each of the Accounts and Contracts to observe and perform all the conditions and obligations to be observed and performed by it thereunder, all in accordance with the terms of any agreement giving rise to each such Account and in accordance with and pursuant to the terms and provisions of each such Contract. The Agent shall not shall have any obligation or liability under any Account (or any agreement giving rise thereto) or under any Contract by reason of or arising out of this Security Agreement or the receipt by the Agent of any payment relating to such Account or Contract pursuant hereto, nor shall the Agent be obligated in any manner to perform any of the obligations of the Debtor under or pursuant to any Account (or any agreement giving rise thereto) or under or pursuant to any Contract, Contract to make any payment, to make any inquiry as to the nature or the sufficiency of any payment received by it or as to the sufficiency of any performance by any party under any Account (or any agreement giving rise thereto) or under any Contract, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts which may have been assigned to it or to which it may be entitled at any time or times.

Appears in 1 contract

Samples: Security Agreement (Axs One Inc)

Debtor Remains Liable under Accounts and Contracts. Anything herein to the contrary notwithstanding, the each Debtor shall remain liable under each of the Accounts and Contracts to observe and perform all the conditions and obligations to be observed and performed by it thereunder, all in accordance with the terms of any agreement giving rise to each such Account and in accordance with and pursuant to the terms and provisions of each such Contract. The Agent Secured Party shall not shall have any obligation or liability under any Account (or any agreement giving rise thereto) or under any Contract by reason of or arising out of this Security Agreement or the receipt by the Agent Secured Party of any payment relating to such Account or Contract pursuant hereto, nor shall the Agent Secured Party be obligated in any manner to perform any of the obligations of the any Debtor under or pursuant to any Account (or any agreement giving rise thereto) or under or pursuant to any Contract, to make any payment, to make any inquiry as to the nature or the sufficiency of any payment received by it or as to the sufficiency of any performance by any party under any Account (or any agreement giving rise thereto) or under any Contract, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts which may have been assigned to it or to which it may be entitled at any time or times.

Appears in 1 contract

Samples: Security Agreement (Iwt Tesoro Corp)

Debtor Remains Liable under Accounts and Contracts. Anything herein to the contrary notwithstandingNotwithstanding any provision of this Agreement, the Debtor shall will remain liable under each of the documents giving rise to the Accounts of the Debtor and under each of the Contracts to observe and perform all the conditions and obligations to be observed and performed by it the Debtor thereunder, all in accordance with the terms of any agreement giving rise to each such Account document and in accordance with and pursuant to the terms and provisions of each such Contract. The Agent shall not shall Creditor will have any no obligation or liability under any Account of the Debtor (or any agreement document giving rise thereto) or under any Contract by reason of or arising out of this Security Agreement or the receipt by the Agent Creditor of any payment relating to such Account or Contract pursuant hereto, nor shall and in particular (but without limitation), the Agent Creditor will not be obligated in any manner to perform any of the obligations of the Debtor under or pursuant to any Account (or any agreement document giving rise thereto) or under or pursuant to any Contract, Contract to make any payment, to make any inquiry as to the nature or the sufficiency of any payment received by it or as to the sufficiency of any performance by any party under any Account (or any agreement document giving rise thereto) or under any Contract, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts which may have been assigned to it or to which it may be entitled at any time or timestime.

Appears in 1 contract

Samples: General Security Agreement (Universal Security Instruments Inc)

Debtor Remains Liable under Accounts and Contracts. Anything herein to the contrary notwithstanding, Notwithstanding any provision of this Agreement the Debtor shall will remain liable under each of the documents giving rise to the Accounts and under each of the Contracts to observe and perform all the conditions and obligations to be observed and performed by it the Debtor thereunder, all in accordance with the terms of any agreement giving rise to each such Account document and in accordance with and pursuant to the terms and provisions of each such Contract. The Agent shall not shall Creditor will have any no obligation or liability under any Account (or any agreement document giving rise thereto) or under any Contract by reason of or arising out of this Security Agreement or the receipt by the Agent Creditor of any payment relating to such Account or Contract pursuant hereto, nor shall and in particular (but without limitation), the Agent Creditor will not be obligated in any manner to perform any of the obligations of the Debtor under or pursuant to any Account (or any agreement document giving rise thereto) or under or pursuant to any Contract, to make any payment, to make any inquiry as to the nature or the sufficiency of any payment received by it or as to the sufficiency of any performance by any party under any Account (or any agreement document giving rise thereto) or under any Contract, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts which may have been assigned to it or to which it may be entitled at any time or timestime.

Appears in 1 contract

Samples: General Security Agreement (Neutron Enterprises Inc)

Debtor Remains Liable under Accounts and Contracts. Anything herein to the contrary notwithstandingNotwithstanding any provision of this Agreement, the Debtor shall remain liable under each of the documents giving rise to the Accounts of the Debtor and under each of the Contracts to observe and perform all the conditions and obligations to be observed and performed by it the Debtor thereunder, all in accordance with the terms of any agreement giving rise to each such Account document and in accordance with and pursuant to the terms and provisions of each such Contract. The Agent Secured Party shall not shall have any obligation or liability under any Account of the Debtor (or any agreement document giving rise thereto) or under any Contract by reason of or arising out of this Security Agreement or the receipt by the Agent Secured Party of any payment relating to such Account or Contract pursuant hereto, nor and in particular (but without limitation), the Secured party shall the Agent not be obligated in any manner to perform any of the obligations of the Debtor under or pursuant to any Account (or any agreement document giving rise thereto) or under or pursuant to any Contract, Contract to make any payment, to make any inquiry as to the nature or the sufficiency of any payment received by it or as to the sufficiency of any performance by any party under any Account (or any agreement document giving rise thereto) or under any Contract, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts which may have been assigned to it or to which it may be entitled at any time or times.time. (c)

Appears in 1 contract

Samples: General Security Agreement (Powin Energy Corp)

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