Derivative Rights. Any obligation of Lender to make disbursements under this Agreement is imposed solely and exclusively for the benefit of Borrower and no other person, firm or corporation shall, under any circumstances, be deemed to be a beneficiary of such condition, nor shall it have any derivative claim or action against Lender.
Appears in 6 contracts
Samples: Loan Agreement (Evans & Sutherland Computer Corp), Security Agreement (Mti Technology Corp), Term Loan Agreement (Saint Andrews Golf Corp)
Derivative Rights. Any obligation of Lender to make disbursements under this Agreement hereunder is imposed solely and exclusively for the benefit of Borrower and no other person, firm or corporation Person shall, under any circumstances, be deemed to be a beneficiary of such condition, nor shall it have any derivative claim or action against Lender.
Appears in 1 contract
Samples: Loan Agreement and Promissory Note (Integrated Ventures, Inc.)
