DISTINCT OBLIGATIONS Sample Clauses

DISTINCT OBLIGATIONS. Shipyard hereby agrees and acknowledges that the obligations of Shipowner under the Construction Contract with regard to the Vessel are separate, distinct and independent of any other obligation or agreement of Shipowner and that a default by Shipowner under such other obligation or agreement shall not in any way affect the obligations of Shipyard under the Construction Contract with regard to the Vessel or permit Shipyard to exercise any right of set-off or other remedy (all of which Shipyard expressly waives and agrees not to assert) which could materially adversely affect the Construction Contract, the Vessel or the construction thereof.
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DISTINCT OBLIGATIONS. Builder hereby agrees and acknowledges that the obligations of Owner under the Contract with regard to the Platform are separate, distinct and independent of any other obligation or agreement of Owner to or with Builder in connection with any other transaction, and that a default by Owner under such other obligation or agreement in connection with any other such transaction shall not in any way affect the obligations of Builder under the Contract with regard to the Platform or permit Builder to exercise any right of set-off or other remedy (all of which Builder expressly waives and agrees not to assert with respect to the Contract) which could materially adversely affect the Contract, the Platform or the construction thereof.
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DISTINCT OBLIGATIONS. Builder hereby agrees and acknowledges that the obligations of Purchaser under the Construction Contract with regard to the Vessel are separate, distinct and independent of any other obligation or agreement of Purchaser and that a default by Purchaser under such other obligation or agreement shall not in any way affect the obligations of Builder under the Construction Contract with regard to the Vessel or permit Builder to exercise any right of set-off or other remedy (all of which Builder expressly waives and agrees not to assert) which could materially adversely affect the Construction Contract, the Vessel or the construction thereof.
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DISTINCT OBLIGATIONS. The Shipyard hereby agrees and acknowledges that the obligations of Owner under this Contract with regard to the Vessels are separate, distinct and independent of any other obligation or agreement of Owner to or with
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DISTINCT OBLIGATIONS. Notwithstanding any other provisions of this Agreement to the contrary, and notwithstanding the fact that Articles 4.0 and 5.0 are entitled "GENERAL LIABILITY AND INDEMNITIES" and "INSURANCE", respectively, and contain Contractor's separate and distinct obligations, duties, and liabilities to Venoco under and by virtue of this Agreement as regards both indemnities and insurance, Contractor covenants and agrees that its obligations, duties, and liabilities to Venoco relative to insurance requirements as set out in Article 5.0 are independent of any other provision of this Agreement, including but not limited to the obligations, duties, and liabilities to Venoco relative to indemnities as set out in Article 4.0, and the indemnities and hold harmless granted to Venoco and all other parties under Article 4.0 shall not be limited, restricted, or any way affected by any other provisions of this Agreement, including but not limited to Article 5.0 hereof.
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DISTINCT OBLIGATIONS. BUILDER hereby agrees and acknowledges that the obligations of BUYER under the Contract with regard to the VESSEL are separate, distinct and independent of any other obligation or agreement of BUYER and that a default by BUYER under such other obligation or agreement shall not in any way affect the obligations of BUILDER under the Contract with regard to the VESSEL or permit BUILDER to exercise any right of set-off or other remedy (all of which BUILDER expressly waives and agrees not to assert) which could materially adversely affect the Contract, the VESSEL or the construction thereof.
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Related to DISTINCT OBLIGATIONS

  • Direct Obligation Neither Agent nor any other Secured Party shall be required to make any demand upon, or pursue or exhaust any right or remedy against, any Grantor, any other Credit Party or any other Person with respect to the payment of the Obligations or to pursue or exhaust any right or remedy with respect to any Collateral therefor or any direct or indirect guaranty thereof. All of the rights and remedies of Agent and any other Secured Party under any Loan Document shall be cumulative, may be exercised individually or concurrently and not exclusive of any other rights or remedies provided by any Requirement of Law. To the extent it may lawfully do so, each Grantor absolutely and irrevocably waives and relinquishes the benefit and advantage of, and covenants not to assert against Agent or any other Secured Party, any valuation, stay, appraisement, extension, redemption or similar laws and any and all rights or defenses it may have as a surety, now or hereafter existing, arising out of the exercise by them of any rights hereunder. If any notice of a proposed sale or other disposition of any Collateral shall be required by law, such notice shall be deemed reasonable and proper if given at least 10 days before such sale or other disposition.

  • Client Obligations 3.1 The Client shall:

  • Swap Obligations Neither the Company nor any of its Subsidiaries has incurred any outstanding obligations under any Swap Contracts, other than Permitted Swap Obligations. The Company has undertaken its own independent assessment of its consolidated assets, liabilities and commitments and has considered appropriate means of mitigating and managing risks associated with such matters and has not relied on any swap counterparty or any Affiliate of any swap counterparty in determining whether to enter into any Swap Contract.

  • Surety Obligations No Borrower or Subsidiary is obligated as surety or indemnitor under any bond or other contract that assures payment or performance of any obligation of any Person, except as permitted hereunder.

  • Joint Obligations A. The University and the student share the responsibility for ensuring the quality of life within the residence halls, their maintenance, furnishings and facilities, and for a physical environment secure from fire and other hazards. The University will work with students to promote effective security of persons and property in the residence halls.

  • Hedging Obligations 5 Holder.....................................................................................

  • Trust Obligations No recourse may be taken, directly or indirectly, with respect to the obligations of the Issuer, the Depositor, the Administrator, the Servicer, the Eligible Lender Trustee or the Indenture Trustee on the Notes or under this Indenture or any certificate or other writing delivered in connection herewith or therewith, against (i) the Indenture Trustee or the Eligible Lender Trustee in its individual capacity, (ii) any owner of a beneficial interest in the Issuer or (iii) any partner, owner, beneficiary, agent, officer, director or employee of the Indenture Trustee or the Eligible Lender Trustee in its individual capacity, any holder or owner of a beneficial interest in the Issuer, the Eligible Lender Trustee or the Indenture Trustee or of any successor or assign thereof in its individual capacity, except as any such Person may have expressly agreed (it being understood that the Indenture Trustee and the Eligible Lender Trustee have no such obligations in their individual capacity) and except that any such partner, owner or beneficiary shall be fully liable, to the extent provided by applicable law, for any unpaid consideration for stock, unpaid capital contribution or failure to pay any installment or call owing to such entity. For all purposes of this Indenture, in the performance of any duties or obligations of the Issuer hereunder, the Eligible Lender Trustee shall be subject to, and entitled to the benefits of, the terms and provisions of Articles VI, VII and VIII of the Trust Agreement.

  • Independent Obligations The Guarantor acknowledges that its obligations hereunder are independent of the obligations of the Issuer with respect to the Capital Securities and that the Guarantor shall be liable as principal and as debtor hereunder to make Guarantee Payments pursuant to the terms of this Guarantee notwithstanding the occurrence of any event referred to in subsections (a) through (g), inclusive, of Section 4.3 hereof.

  • Exit Obligations Upon (i) voluntary or involuntary termination of Employee’s employment or (ii) the Company’s request at any time during Employee’s employment, Employee shall (a) provide or return to the Company any and all Company property, including keys, key cards, access cards, identification cards, security devices, Company credit cards, network access devices, computers, cell phones, smartphones, equipment, manuals, reports, files, books, compilations, work product, e-mail messages, recordings, tapes, disks, thumb drives or other removable information storage devices, hard drives and data and all Company documents and materials belonging to the Company and stored in any fashion, including but not limited to those that constitute or contain any Confidential Information or Work Product, that are in the possession or control of Employee, whether they were provided to Employee by the Company or any of its business associates or created by Employee in connection with Employee’s employment by the Company; and (b) delete or destroy all copies of any such documents and materials following return to the Company that remain in Employee’s possession or control, including those stored on any non-Company devices, networks, storage locations and media in Employee’s possession or control.

  • Reimbursement Obligations of the Borrower The Borrower agrees to pay to the L/C Issuer of any Letter of Credit each L/C Reimbursement Obligation owing with respect to such Letter of Credit no later than the first Business Day after the Borrower receives notice from such L/C Issuer that payment has been made under such Letter of Credit or that such L/C Reimbursement Obligation is otherwise due (the “L/C Reimbursement Date”) with interest thereon computed as set forth in clause (i) below. In the event that any L/C Issuer incurs any L/C Reimbursement Obligation not repaid by the Borrower as provided in this clause (e) (or any such payment by the Borrower is rescinded or set aside for any reason), such L/C Issuer shall promptly notify the Administrative Agent of such failure (and, upon receipt of such notice, the Administrative Agent shall forward a copy to each Revolving Credit Lender) and, irrespective of whether such notice is given, such L/C Reimbursement Obligation shall be payable on demand by the Borrower with interest thereon computed (i) from the date on which such L/C Reimbursement Obligation arose to the L/C Reimbursement Date, at the interest rate applicable during such period to Revolving Loans that are Base Rate Loans and (ii) thereafter until payment in full, at the interest rate applicable during such period to past due Revolving Loans that are Base Rate Loans.

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