Common use of Debtors Remain Liable Clause in Contracts

Debtors Remain Liable. Anything herein to the contrary notwithstanding: (a) each Debtor shall remain liable under the Contracts included in the Collateral to the extent set forth therein to perform such Debtor’s obligations thereunder to the same extent as if this Agreement had not been executed; (b) the exercise by the Agent of any rights hereunder shall not release any Debtor from any obligations under the Contracts included in the Collateral; and (c) the Agent shall not have any obligation under the Contracts included in the Collateral by reason of this Agreement, nor shall the Agent be obligated to perform or fulfill any of the obligations of any Debtor thereunder, including any obligation to make any inquiry as to the nature or sufficiency of any payment any 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 thereunder.

Appears in 3 contracts

Samples: Credit Agreement (Stone Energy Corp), Credit Agreement (Stone Energy Corp), Security Agreement (Stone Energy Corp)

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Debtors Remain Liable. Anything herein Notwithstanding anything to the --------------------- contrary notwithstanding: contained herein, (a) each Debtor shall remain liable under the Contracts contracts and agreements included in the Collateral to the extent set forth therein to perform such Debtor’s all of its duties and obligations thereunder to the same extent as if this Agreement had not been executed; , (b) the exercise by the Agent of any of its rights hereunder shall not release any Debtor from any of its duties or obligations under the Contracts contracts and agreements included in the Collateral; , and (c) neither the Agent, any Co-Agent nor any Bank shall not have any obligation or liability under any of the Contracts contracts and agreements included in the Collateral by reason of this Agreement, nor shall the Agent, any Co-Agent or any Bank be obligated to perform or fulfill any of the obligations or duties of any Debtor thereunder, including any obligation to make any inquiry as to the nature or sufficiency of any payment any Debtor may be entitled to receive thereunder, to present or file any claim, thereunder or to take any action to collect or enforce any claim for payment thereunderassigned hereunder.

Appears in 2 contracts

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

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Debtors Remain Liable. Anything herein to the contrary notwithstanding: (a) each Debtor shall remain liable under the Contracts contracts included in the Collateral to the extent set forth therein to perform such Debtor’s obligations thereunder to the same extent as if this Agreement had not been executed; (b) the exercise by the Collateral Agent of any rights hereunder shall not release any Debtor from any obligations under the Contracts contracts included in the Collateral; and (c) the Collateral Agent shall not have any obligation under the Contracts contracts included in the Collateral by reason of this Agreement, nor shall the Collateral Agent be obligated to perform or fulfill any of the obligations of any Debtor thereunder, including any obligation to make any inquiry as to the nature or sufficiency of any payment any 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 thereunder.

Appears in 1 contract

Samples: Security Agreement (Basic Energy Services Inc)

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