Common use of Independence of Covenants Clause in Contracts

Independence of Covenants. All covenants hereunder shall be given independent effect so that if a particular action or condition is not permitted by any of such covenants, the fact that it would be permitted by an exception to, or be otherwise within the limitations of, another covenant shall not avoid the occurrence of an Event of Default or Unmatured Event of Default if such action is taken or condition exists, and if a particular action or condition is expressly permitted under any covenant, unless expressly limited to such covenant, the fact that it would not be permitted under the general provisions of another covenant shall not constitute an Event of Default or Unmatured Event of Default if such action is taken or condition exists.

Appears in 38 contracts

Samples: Loan Agreement, Loan Agreement (BrightSource Energy Inc), Loan Agreement (KBS Real Estate Investment Trust, Inc.)

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Independence of Covenants. All covenants hereunder shall be given independent effect so that if a particular action or condition is not permitted by any of such covenants, the fact that it would be permitted by an exception to, or be otherwise within the limitations of, another covenant shall not avoid the occurrence of an Event of a Possible Default or Unmatured an Event of Default if such action is taken or condition exists, and if a particular action or condition is expressly permitted under any covenant, unless expressly limited to such covenant, the fact that it would not be permitted under the general provisions of another covenant shall not constitute an Event of a Possible Default or Unmatured an Event of Default if such action is taken or condition exists.

Appears in 8 contracts

Samples: Credit Agreement (Forest City Enterprises Inc), Credit Agreement (Forest City Enterprises Inc), Credit Agreement (Forest City Enterprises Inc)

Independence of Covenants. All covenants hereunder shall be given independent effect so that if a particular action or condition is not permitted by any of such covenants, the fact that it would be permitted by an exception to, or be otherwise within the limitations of, another covenant shall not avoid the occurrence of an Event of Default or Unmatured Event of Default if such action is taken or condition exists, and if a particular action or condition is expressly permitted under any covenant, unless expressly limited to such covenant, the fact that it would not be permitted under the general provisions of another covenant shall not constitute an Event of Default or Unmatured Event of Default if such action is taken or condition exists.

Appears in 6 contracts

Samples: Credit Agreement (Full Circle Capital Corp), Credit Agreement (Hub International LTD), Credit Agreement (Zebu)

Independence of Covenants. All covenants hereunder shall be given independent effect so that if a particular action or condition is not permitted by any of such covenants, the fact that it would be permitted by an exception to, or be otherwise within the limitations of, another covenant shall not avoid the occurrence of an Event of Default or Unmatured Event of Default if such action is taken or condition exists, and if a particular action or condition is expressly permitted under any covenant, unless expressly limited to such covenant, the fact that it would not be permitted under the general provisions of another covenant shall not constitute an Event of Default or Unmatured Event of Default if such action is taken or condition exists.

Appears in 2 contracts

Samples: Guaranty of Payment of Debt (Forest City Enterprises Inc), Guaranty of Payment of Debt (Forest City Enterprises Inc)

Independence of Covenants. All covenants hereunder shall be given independent effect so that if a particular action or condition is not permitted by any of such covenants, the fact that it would be permitted by an exception to, or be otherwise within the limitations of, another covenant shall not avoid the occurrence of an Event of Default or 122 123 Unmatured Event of Default if such action is taken or condition exists, and if a particular action or condition is expressly permitted under any covenant, unless expressly limited to such covenant, the fact that it would not be permitted under the general provisions of another covenant shall not constitute an Event of Default or Unmatured Event of Default if such action is taken or condition exists.

Appears in 1 contract

Samples: Credit Agreement (Spieker Properties Inc)

Independence of Covenants. All covenants hereunder shall be given independent effect so that if a particular action or condition is not permitted by any of such covenants, the fact that it would be permitted by an exception to, or be otherwise within the limitations of, another covenant shall not avoid the occurrence of an Event of Default or Unmatured Event of Default if such action is taken or condition exists, and if a particular action or condition is expressly permitted under any covenant, unless expressly limited to such covenant, the fact that it 106 would not be permitted under the general provisions of another covenant shall not constitute an Event of Default or Unmatured Event of Default if such action is taken or condition exists.

Appears in 1 contract

Samples: Credit Agreement (Paragon Group Inc)

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Independence of Covenants. All covenants hereunder shall be given independent effect so that if a particular action or condition is not permitted by any of such covenants, the fact that it would be permitted by an exception to, or be otherwise within the limitations of, another covenant shall not avoid the occurrence of an Event of Default or Unmatured Possible Event of Default if such action is taken or condition exists, and if a particular action or condition is expressly permitted under any covenant, unless expressly limited to such covenant, the fact that it would not be permitted under the general provisions of another covenant shall not constitute an Event of Default or Unmatured Possible Event of Default if such action is taken or condition exists.

Appears in 1 contract

Samples: Loan Agreement (Uni Invest Usa LTD)

Independence of Covenants. All covenants hereunder shall be given independent effect so that if a particular action or condition is not permitted by any of -125- 131 such covenants, the fact that it would be permitted by an exception to, or be otherwise within the limitations of, another covenant shall not avoid the occurrence of an Event of Default or Unmatured Event of Default if such action is taken or condition exists, and if a particular action or condition is expressly permitted under any covenant, unless expressly limited to such covenant, the fact that it would not be permitted under the general provisions of another covenant shall not constitute an Event of Default or Unmatured Event of Default if such action is taken or condition exists.

Appears in 1 contract

Samples: Credit Agreement (Spieker Properties Inc)

Independence of Covenants. All covenants hereunder under Section 7 shall be given independent effect so that if a particular action or condition is not permitted by any of such covenants, the fact that it would be permitted by an exception to, or would otherwise be otherwise within the limitations of, another covenant shall not avoid the occurrence of an Event of Default or Unmatured Potential Event of Default if such action is taken or condition exists; PROVIDED that if there are multiple exceptions to any one covenant, and if a particular action or condition is expressly not permitted under any covenant, unless expressly limited by one exception to such covenant, the fact that it would not may be permitted under by another exception to such covenant without the general provisions occurrence of another covenant shall not constitute an Event of Default or Unmatured Potential Event of Default if such action is taken or condition existsDefault.

Appears in 1 contract

Samples: Credit Agreement (Clayton Holdings Inc)

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