Independent Effect. 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 would otherwise be within the limitations of, another covenant shall not avoid the occurrence of a Default or an Event of Default if such action is taken or condition exists.
Appears in 8 contracts
Samples: Pledge and Security Agreement, Pledge and Security Agreement, Credit Agreement (Zekelman Industries, Inc.)
Independent Effect. All covenants hereunder herein shall be given independent effect so that if a particular action or condition is not permitted by any one of such covenants, the fact that it would be permitted by an exception to, or would otherwise be within the limitations of, another covenant covenant, shall not avoid the occurrence of a Default or an Event of Default or Potential Default if such action is taken or condition exists.
Appears in 2 contracts
Samples: Loan Agreement (Catellus Development Corp), Loan Agreement (Catellus Development Corp)
