Common use of Finance Parties' obligations several Clause in Contracts

Finance Parties' obligations several. The obligations of each Finance Party under the Finance Documents are several. Failure by a Finance Party to perform its obligations does not affect the obligations of any other Finance Party or the Obligors under the Finance Documents. No Finance Party is responsible for the obligations of any other Finance Party under the Finance Documents.

Appears in 2 contracts

Samples: Facility Agreement (Pangaea Logistics Solutions Ltd.), Facility Agreement (Quartet Holdco Ltd.)

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Finance Parties' obligations several. The obligations of each Finance Party under the Finance Documents are several. Failure by a Finance Party to perform its obligations obligations, does not affect the obligations of any other Finance Party or the Obligors Borrower under the Finance Documents. No Finance Party is responsible for the obligations of any other Finance Party under the Finance Documents. The Agent shall not in any circumstances be liable to make available to the Borrower any sum greater than the aggregate of the amounts provided by the Lenders pursuant to Clause 5.5.

Appears in 1 contract

Samples: Credit Agreement (Teekay Shipping Corp)

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Finance Parties' obligations several. The obligations of each Finance Party under the Finance Documents are several. Failure several and the failure by a Finance Party to perform its obligations does under the Finance Documents shall not affect the obligations of the Borrower or the other Banks towards any other party under the Finance Documents nor shall any Finance Party be liable for the failure by any other Finance Party or the Obligors under the Finance Documents. No Finance Party is responsible for the to perform its obligations of any other Finance Party under the Finance Documents.

Appears in 1 contract

Samples: Facility Agreement (Micron Technology Inc)

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