Debtor Remains Liable Under Contracts. Anything herein to the contrary notwithstanding, the Debtor shall remain liable under each of the Contracts which arise out of, or relate to, any of the Collateral to observe and perform all of the conditions and obligations to be observed and performed by them thereunder, all in accordance with and pursuant to the terms and provisions of each Contract. Neither the Collateral Agent nor any other Secured Creditor shall have any obligation or liability under any Contract by reason of or arising out of this Agreement or the receipt by the Collateral Agent or any other Secured Creditor of any payment relating to such Contract pursuant hereto, nor shall the Collateral Agent or any other Secured Creditor be obligated in any manner to perform any of the obligations of the Debtor under or pursuant to any Contract, to make any payment, to make any inquiry as to the nature or the sufficiency of any performance by any party 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 them or to which they may be entitled at any time or times.
Debtor Remains Liable Under Contracts. In the event any Collateral covered by this Security Agreement arise under any now or hereafter existing written, binding contracts or agreements between the Debtor and any purchaser, contractor, customer or any other person or entity who owes money or an obligation to the Debtor or who receives goods or inventory or the performance and rendering of labor or services from the Debtor, then, anything herein to the contrary notwithstanding, (a) the Debtor shall remain liable under the contracts and agreements included in the Collateral to the extent set forth therein to perform all of its duties and obligations thereunder to the same extent as if this Security Agreement had not been executed, (b) the exercise by the Creditor of any of the rights hereunder shall not release the Debtor from any of its duties or obligations under the contracts and agreements included in the Collateral, and (c) the Creditor shall not have any obligation or liability under the contracts and agreements included in the Collateral by reason of this Security Agreement, nor shall the Creditor be obligated to do and perform any of the acts, obligations or duties of the Debtor provided in the contracts and agreements or to take any action to collect or enforce any claim for payment assigned hereunder.
Debtor Remains Liable Under Contracts. Notwithstanding any other provision of this Agreement, the Debtor shall remain liable under each of the Contracts to observe and perform all the conditions and obligations to be observed and performed by it thereunder, all in accordance with and pursuant to the terms and provisions of such Contract. The Agent and the Obligees shall have no obligation or liability under any Contract by reason of or arising out of this Agreement or the receipt by the Agent or any of the Obligees of any payment relating to such Contract pursuant hereto, nor shall the Agent or any of the Obligees be obligated in any manner to perform any of the obligations of the Debtor 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 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.
