Common use of Debtor Remains Liable Clause in Contracts

Debtor Remains Liable. Notwithstanding anything to the contrary contained herein, (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 Agreement had not been executed, (b) the exercise by the Administrative Agent of any of its 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) neither the Administrative Agent nor any Lender shall have any obligation or liability under any of the contracts and agreements included in the Collateral by reason of this Agreement, nor shall the Administrative Agent or any Lender be obligated to perform any of the obligations or duties of the Debtor thereunder or to take any action to collect or enforce any claim for payment assigned hereunder.

Appears in 2 contracts

Samples: Guarantor Security Agreement (Prime Medical Services Inc /Tx/), Borrower Security Agreement (Prime Medical Services Inc /Tx/)

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Debtor Remains Liable. Notwithstanding anything Anything herein to the contrary contained hereinnotwithstanding, (ai) 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 under the transactions giving rise to the Collateral to the same extent as if this Security Agreement had not been executed, (bii) the exercise by the Administrative Agent on behalf of the Secured Parties of any of its the rights hereunder shall not release the Debtor from any of its duties or obligations under the contracts and agreements included in transactions giving rise to the Collateral, which shall remain unchanged as if this Security Agreement had not been executed, and (ciii) neither the Administrative Agent nor any Lender of the Secured Parties shall have any obligation or liability under any of the contracts and agreements included in transactions giving rise to the Collateral by reason of this Security Agreement, nor shall the Administrative Agent or any Lender of the Secured Parties be obligated to perform any of the obligations or duties of the Debtor thereunder or to take any action to collect or enforce any claim for payment assigned hereunder.

Appears in 2 contracts

Samples: Security Agreement (PDK Labs Inc), Security Agreement (Futurebiotics Inc)

Debtor Remains Liable. Notwithstanding anything Anything herein to the contrary contained herein, notwithstanding: (a) the Debtor shall remain liable under the any 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 Agreement had not been executed, ; (b) as between the Debtor and the Collateral Agent, the exercise by the Administrative Collateral Agent of any of its rights hereunder shall not release the Debtor from any of its duties or obligations under the any contracts and agreements agreement included in the Collateral, ; and (c) neither the Administrative Collateral Agent nor any Lender shall not have any obligation or liability under any of the contracts and agreements included in the Collateral by reason of this Agreement, nor shall the Administrative Collateral Agent or any Lender be obligated to perform or fulfill any of the obligations or duties of the Debtor thereunder thereunder, including any obligation to make any inquiry as to the nature or sufficiency of any payment the Debtor may be entitled to receive thereunder, to present or file any claim, or to take any action to collect or enforce any claim for payment assigned hereunderthereunder.

Appears in 2 contracts

Samples: Security Agreement (Pride International Inc), Security Agreement (Pride International Inc)

Debtor Remains Liable. Notwithstanding anything to the --------------------- contrary contained herein, (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 Agreement had not been executed, (b) the exercise by the Administrative Agent of any of its 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) neither the Administrative Agent nor any Lender Bank shall have any obligation or liability under any of the contracts and agreements included in the Collateral by reason of this Agreement, nor shall the Administrative Agent or any Lender Bank be obligated to perform any of the obligations or duties of the Debtor thereunder or to take any action to collect or enforce any claim for payment assigned hereunder.

Appears in 2 contracts

Samples: Credit Agreement (Cellstar Corp), Credit Agreement (Cellstar Corp)

Debtor Remains Liable. Notwithstanding anything Anything herein to the contrary contained herein, notwithstanding: (a) each of Debtor and the Debtor Guarantors shall remain liable under the contracts and agreements to which it is a party 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 Agreement had not been executed, ; (b) the exercise by the Administrative Agent of any of its the rights hereunder shall not release the Debtor or any Guarantor from any of its duties or obligations under the contracts and agreements to which any of them is a party included in the Collateral, ; and (c) neither the Administrative Agent nor any Lender or Lenders shall not have any obligation or liability under any of the contracts and agreements included in the Collateral by reason of this Agreement, nor shall the Administrative Agent or any Lender Lenders be obligated to perform any of the obligations or duties of Debtor and/or the Debtor Guarantors thereunder or to take any action to collect or enforce any claim for payment assigned hereunder.

Appears in 1 contract

Samples: Borrower Security Agreement (Axia Inc)

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Debtor Remains Liable. Notwithstanding anything to the contrary contained herein, : (a) the Debtor shall remain liable under the contracts and agreements documentation 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 Administrative Agent of any of its rights or remedies hereunder shall not release the Debtor from any of its duties or obligations under the contracts and agreements included in the Collateral, and such documentation; (c) neither the Administrative Agent nor any Lender shall not have any obligation or liability under any of the contracts and agreements such documentation included in the Collateral by reason of or arising out of this Agreement, nor shall Security Agreement or the Administrative granting herein of a Lien thereon or the receipt by the Agent or any Lender of any payment relating thereto; (d) the Agent shall not be obligated to perform any of the obligations or duties of the Debtor thereunder or to take any action to collect or enforce any claim for payment assigned hereunder; and (e) neither the Agent nor any Lender shall be required or obligated in any manner to make any inquiry as to the nature or the sufficiency of any payment received by it or the sufficiency of any performance by any party under any contract or license.

Appears in 1 contract

Samples: Pledge and Security Agreement (K2 Inc)

Debtor Remains Liable. Notwithstanding anything Anything herein to the contrary contained hereinnotwithstanding, (ai) 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 under the transactions giving rise to the Collateral to the same extent as if this Security Agreement had not been executed, (bii) the exercise by the Administrative Agent Secured Parties of any of its the rights hereunder shall not release the Debtor from any of its duties or obligations under the contracts and agreements included in transactions giving rise to the Collateral, which shall remain unchanged as if this Security Agreement had not been executed, and (ciii) neither the Administrative Agent nor any Lender the Secured Parties shall not have any obligation or liability under any of the contracts and agreements included in transactions giving rise to the Collateral by reason of this Security Agreement, nor shall the Administrative Agent or any Lender Secured Parties be obligated to perform any of the obligations or duties of the Debtor thereunder or to take any action to collect or enforce any claim for payment assigned hereunder.

Appears in 1 contract

Samples: Credit Agreement (United Capital Corp /De/)

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