Common use of Debtors Remain Liable under Accounts and Contracts Clause in Contracts

Debtors Remain Liable under Accounts and Contracts. Notwithstanding any provision of this Agreement, each Debtor shall remain liable under each of the documents giving rise to the Accounts of such Debtor and under each of the Contracts of such Debtor to observe and perform all the conditions and obligations to be observed and performed by such Debtor thereunder, all in accordance with the terms of each such document and Contract. The Creditor shall have no obligation or liability under any Account of any Debtor (or any document giving rise thereto) or Contract of any Debtor by reason of or arising out of this Agreement or the receipt by the Creditor of any payment relating to such Account or Contract pursuant hereto, and in particular (but without limitation), the Creditor shall not be obligated in any manner to perform any of the obligations of any Debtor under or pursuant to any Account of such Debtor (or any document giving rise thereto) or under or pursuant to any Contract of such 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 of such Debtor (or any document giving rise thereto) or under any Contract of such Debtor, 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.

Appears in 2 contracts

Samples: General Security Agreement (Psyence Biomedical Ltd.), General Security Agreement (Mad Catz Interactive Inc)

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Debtors Remain Liable under Accounts and Contracts. Notwithstanding any provision of this AgreementAnything herein to the contrary notwithstanding, each Debtor the Debtors shall remain liable under each of the documents giving rise to the Accounts of such Debtor and under each of the Contracts of such Debtor to observe and perform all the conditions and obligations to be observed and performed by such Debtor it thereunder, all in accordance with the terms of any agreement giving rise to each such document Account and in accordance with and pursuant to the terms and provisions of each such Contract. The Creditor Lender shall have no obligation or liability under any Account of any Debtor (or any document agreement giving rise thereto) or under any Contract of any Debtor by reason of or arising out of this Agreement or the receipt by the Creditor Lender of any payment relating to such Account or Contract pursuant hereto, and in particular (but without limitation), nor shall the Creditor shall not Lender be obligated in any manner to perform any of the obligations of any Debtor the Debtors under or pursuant to any Account of such Debtor (or any document agreement giving rise thereto) or under or pursuant to any Contract of such DebtorContract, 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 of such Debtor (or any document agreement giving rise thereto) or under any Contract of such DebtorContract, 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 timetime or times.

Appears in 2 contracts

Samples: Secured Credit Facility and Warrant Purchase Agreement (Environmental Tectonics Corp), Secured Credit Facility and Warrant Purchase Agreement (Environmental Tectonics Corp)

Debtors Remain Liable under Accounts and Contracts. Notwithstanding any provision of this AgreementAnything herein to the contrary notwithstanding, each Debtor shall remain liable under each of the documents its contracts and agreements giving rise to the Accounts of such Debtor and under each of the Contracts of such Debtor any Accounts, to observe and perform all the conditions and obligations to be observed and performed by such Debtor it thereunder, all in accordance with the terms of each such document and Contractcontracts or agreements giving rise to any Account. The Creditor Lender shall not have no any obligation or liability under any Account of any Debtor (contract or any document agreement giving rise thereto) or Contract of to any Debtor Account by reason of or arising out of this Agreement or the receipt by the Creditor Lender of any payment relating to such contract, agreement, or Account or Contract pursuant hereto, and in particular (but without limitation), nor shall the Creditor shall not Lender be obligated in any manner to perform any of the obligations of any Debtor under or pursuant to any Account of such Debtor (contract or any document agreement giving rise thereto) or under or pursuant to any Contract of such DebtorAccount, 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 of such Debtor (contract or any document agreement giving rise thereto) or under to any Contract of such DebtorAccount, 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 timetime or times.

Appears in 1 contract

Samples: Security Agreement (Kroll Inc)

Debtors Remain Liable under Accounts and Contracts. Notwithstanding any provision of this AgreementAnything herein to the contrary notwithstanding, each Debtor shall remain liable under each of the documents its contracts and agreements giving rise to the Accounts of such Debtor and under each of the Contracts of such Debtor any Accounts, to observe and perform all the conditions and obligations to be observed and performed by such Debtor it thereunder, all in accordance with the terms of each such document and Contractcontracts or agreements giving rise to any Account. The Creditor Neither the Agent nor any Lender shall have no any obligation or liability under any Account of any Debtor (contract or any document agreement giving rise thereto) or Contract of to any Debtor Account by reason of or arising out of this Agreement or the receipt by the Creditor Agent or any Lender of any payment relating to such contract, agreement, or Account or Contract pursuant hereto, and in particular (but without limitation), nor shall the Creditor shall not Agent or any Lender be obligated in any manner to perform any of the obligations of any Debtor under or pursuant to any Account of such Debtor (contract or any document agreement giving rise thereto) or under or pursuant to any Contract of such DebtorAccount, 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 of such Debtor (contract or any document agreement giving rise thereto) or under to any Contract of such DebtorAccount, 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 timetime or times.

Appears in 1 contract

Samples: Security Agreement (Cross Media Marketing Corp)

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Debtors Remain Liable under Accounts and Contracts. Notwithstanding any provision of this AgreementAnything herein to the contrary notwithstanding, each Debtor the Debtors shall remain liable under each of the documents giving rise to the Accounts of such Debtor and under each of the Contracts of such Debtor to observe and perform all the conditions and obligations to be observed and performed by such Debtor it thereunder, all in accordance with the terms of any agreement giving rise to each such document Account and in accordance with and pursuant to the terms and provisions of each such Contract. The Creditor Lender shall have no obligation or liability under any Account of any Debtor (or any document agreement giving rise thereto) or under any Contract of any Debtor by reason of or arising out of this Security Agreement or the receipt by the Creditor Lender of any payment relating to such Account or Contract pursuant hereto, and in particular (but without limitation), nor shall the Creditor shall not Lender be obligated in any manner to perform any of the obligations of any Debtor the Debtors under or pursuant to any Account of such Debtor (or any document agreement giving rise thereto) or under or pursuant to any Contract of such DebtorContract, 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 of such Debtor (or any document agreement giving rise thereto) or under any Contract of such DebtorContract, 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 timetime or times.

Appears in 1 contract

Samples: Security Agreement (Environmental Tectonics Corp)

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