Common use of Debtor Remains Liable Clause in Contracts

Debtor Remains Liable. Anything herein to the contrary notwithstanding, (i) the Debtor shall remain liable to perform all of its duties and obligations under the transactions giving rise to the Collateral to the same extent as if this Security Agreement had not been executed, (ii) the exercise by the Agent on behalf of the Secured Parties of any of the rights hereunder shall not release the Debtor from any of its duties or obligations under the transactions giving rise to the Collateral, which shall remain unchanged as if this Security Agreement had not been executed, and (iii) neither the Agent nor any of the Secured Parties shall have any obligation or liability under the transactions giving rise to the Collateral by reason of this Security Agreement, nor shall the Agent or any 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: Credit Agreement (PDK Labs Inc), Credit Agreement (Futurebiotics Inc)

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Debtor Remains Liable. Anything herein Notwithstanding anything to the contrary notwithstanding, contained herein: (ia) the Debtor shall remain liable under the documentation included in the Collateral to the extent set forth therein to perform all of its duties and obligations under the transactions giving rise to the Collateral thereunder to the same extent as if this Security Agreement had not been executed, ; (iib) the exercise by the Agent on behalf of the Secured Parties of any of the its rights or remedies hereunder shall not release the Debtor from any of its duties or obligations under the transactions giving rise to the Collateral, which shall remain unchanged as if this Security Agreement had not been executed, and such documentation; (iiic) neither the Agent nor any of the Secured Parties shall not have any obligation or liability under the transactions giving rise to any of such documentation included in the Collateral by reason of or arising out of this Security Agreement, nor shall Agreement or the granting herein of a Lien thereon or the receipt by the Agent or any Lender of any payment relating thereto; (d) the Secured Parties 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. Anything herein to the contrary notwithstanding, (ia) the Debtor shall remain liable under any contracts, agreements and other documents included in the Collateral, to the extent set forth therein, to perform all of its duties and obligations under the transactions giving rise to the Collateral thereunder to the same extent as if this Security Agreement had not been executed, (iib) the exercise by the Agent on behalf of the a Secured Parties of any of the rights hereunder shall not release the Debtor from any of its duties or obligations under the transactions giving rise to such contracts, agreements and other documents included in the Collateral, which shall remain unchanged as if this Security Agreement had not been executed, and (iiic) neither the Agent nor any of the a Secured Parties shall not have any obligation or liability under the transactions giving rise to any contracts, agreements and other documents included in the Collateral by reason of this Security Agreement, nor shall the Agent or any 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 such contract, agreement or other document included in the Collateral hereunder.

Appears in 1 contract

Samples: Security Agreement (Neoprobe Corp)

Debtor Remains Liable. Anything herein to the contrary notwithstanding, : (ia) 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 under the transactions giving rise to the Collateral thereunder to the same extent as if this Security Agreement had not been executed, ; (iib) the exercise by the Agent on behalf of the Secured Parties of any of the rights hereunder shall not release the Debtor or any Guarantor from any of its duties or obligations under the transactions giving rise contracts and agreements to which any of them is a party included in the Collateral, which shall remain unchanged as if this Security Agreement had not been executed, ; and (iiic) neither the Agent nor any of the Secured Parties or Lenders shall not have any obligation or liability under the transactions giving rise to contracts and agreements included in the Collateral by reason of this Security Agreement, nor shall the Agent or any of the Secured Parties 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)

Debtor Remains Liable. Anything herein Notwithstanding anything to the contrary notwithstandingcontained herein, (ia) the Debtor shall remain liable under the contracts, agreements, documents and instruments included in the Collateral to the extent set forth therein to perform all of its duties and obligations under the transactions giving rise to the Collateral thereunder to the same extent as if this Security Agreement had not been executed, (iib) the exercise by the Agent on behalf of the Secured Parties Lender of any of the its rights or remedies hereunder shall not release the Debtor from any of its their duties or obligations under the transactions giving rise to contracts, agreements, documents and instruments included in the Collateral, which shall remain unchanged as if this Security Agreement had not been executed, and (iiic) neither the Agent nor Lender shall not have any indebtedness, liability or obligation (by assumption or otherwise) under any of the Secured Parties shall have any obligation or liability under the transactions giving rise to contracts, agreements, documents and instruments included in the Collateral by reason of this Security Agreement, nor and shall the Agent or any of the Secured Parties 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.

Appears in 1 contract

Samples: Security Agreement (Staktek Holdings Inc)

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Debtor Remains Liable. Anything herein to the contrary notwithstanding, (i) the Debtor shall remain liable under any contracts, agreements and other documents included in the Collateral, to the extent set forth therein, to perform all of its duties and obligations under the transactions giving rise to the Collateral thereunder to the same extent as if this Security Agreement had not been executed, (ii) the exercise by the Agent on behalf of the Secured Parties of any of the rights hereunder shall not release the Debtor from any of its duties or obligations under the transactions giving rise to such contracts, agreements and other documents included in the Collateral, which shall remain unchanged as if this Security Agreement had not been executed, and (iii) neither the Agent nor any of the Secured Parties shall not have any obligation or liability under the transactions giving rise to any contracts, agreements and other documents included in the Collateral by reason of this Security Agreement, nor shall the Agent or any 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 such contract, agreement or other document included in the Collateral hereunder.

Appears in 1 contract

Samples: Security Agreement (ReachLocal Inc)

Debtor Remains Liable. Anything herein to the contrary notwithstanding, : (i) the each Debtor shall remain liable under the contracts and agreements included in the Collateral to the extent set forth therein and shall perform all of its duties and obligations under the transactions giving rise to the Collateral thereunder to the same extent as if this Security Agreement had not been executed, ; (ii) the exercise by the Agent on behalf of the Secured Parties of any of the rights hereunder shall not release the any Debtor from any of its duties or obligations under the transactions giving rise to contracts and agreements included in the Collateral, which shall remain unchanged as if this Security Agreement had not been executed, and ; (iii) neither the Agent nor any of the Secured Parties Lender shall have any obligation or liability under the transactions giving rise to contracts and agreements included in the Collateral by reason of this Security Agreement, nor shall the Agent or nor any of the Secured Parties Lender be obligated to perform any of the obligations or duties of the any Debtor thereunder or to take any action to collect or enforce any claim for payment assigned hereunder; and (iv) neither Agent nor any Lender shall have any liability in contract or tort for any Debtor's acts or omissions.

Appears in 1 contract

Samples: Security Agreement (Playboy Enterprises Inc)

Debtor Remains Liable. Anything herein to the contrary notwithstanding, (i) the Debtor shall remain liable to perform all of its duties and obligations under the transactions giving rise to the Collateral to the same extent as if this Security Agreement had not been executed, (ii) the exercise by the Agent on behalf of the Secured Parties of any of the rights hereunder shall not release the Debtor from any of its duties or obligations under the transactions giving rise to the Collateral, which shall remain unchanged as if this Security Agreement had not been executed, and (iii) neither the Agent nor any of the Secured Parties shall not have any obligation or liability under the transactions giving rise to the Collateral by reason of this Security Agreement, nor shall the Agent or any 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 1 contract

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

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