Common use of Independent Liability Clause in Contracts

Independent Liability. The Guaranty is one of payment and performance, not collection, and the obligations of each Guarantor under this Guaranty are independent of the Obligations of the other Note Parties, and a separate action or actions may be brought and prosecuted against any Guarantor to enforce the terms and conditions of this Section 10, irrespective of whether any action is brought against any other Note Party or other Persons or whether any other Note Party or other Persons are joined in any such action or actions. Each Guarantor waives any right to require that any resort be had by Agent or any other Secured Party to any security held for payment of the Obligations or to any balance of any deposit account or credit on the books of any Agent or any other Secured Party in favor of any Note Party or any other Person. No election to proceed in one form of action or proceedings, or against any Person, or on any Obligations, shall constitute a waiver of Agent’s right to proceed in any other form of action or proceeding or against any other Person unless Agent has expressed any such waiver in writing. Without limiting the generality of the foregoing, no action or proceeding by Agent against any Note Party under any document evidencing or securing indebtedness of any Note Party to Agent shall diminish the liability of any Guarantor hereunder, except to the extent Agent receives actual payment on account of Obligations by such action or proceeding, notwithstanding the effect of any such election, action or proceeding upon the right of subrogation of any Guarantor in respect of any Note Party.

Independent Liability. The Guaranty hereunder is one of payment and performance, not collection, and the obligations of each Guarantor under this Guaranty hereunder are independent of the Obligations of the other Note PartiesObligors, and a separate action or actions may be brought and prosecuted against any Guarantor to enforce the terms and conditions of this Section 1012, irrespective of whether any action is brought against any other Note Party Obligor or other Persons or whether any other Note Party Obligor or other Persons are joined in any such action or actions. Each Guarantor waives any right to require that any resort be had by Agent or any other Secured Party Lender to any security held for payment of the Obligations or to any balance of any deposit account or credit on the books of any Agent or any other Secured Party Lender in favor of any Note Party Obligor or any other Person. No election to proceed in one form of action or proceedings, or against any Person, or on any Obligations, shall constitute a waiver of AgentLender’s right to proceed in any other form of action or proceeding or against any other Person unless Agent Lender has expressed any such waiver in writing. Without limiting the generality of the foregoing, no action or proceeding by Agent Lender against any Note Party Obligor under any document evidencing or securing indebtedness of any Note Party Obligor to Agent Lender shall diminish the liability of any Guarantor hereunder, except to the extent Agent Lender receives actual payment on account of Obligations by such action or proceeding, notwithstanding the effect of any such election, action or proceeding upon the right of subrogation of any Guarantor in respect of any Note PartyObligor.

Independent Liability. The Guaranty hereunder is one of payment and performance, not collection, and the obligations of each Guarantor under this Guaranty hereunder are independent of the Obligations of the other Note Loan Parties, and a separate action or actions may be brought and prosecuted against any Guarantor to enforce the terms and conditions of this Section 1011.5, irrespective of whether any action is brought against any other Note Loan Party or other Persons or whether any other Note Loan Party or other Persons are joined in any such action or actions. Each Guarantor waives any right to require that any resort be had by Agent or any other Secured Party Lender to any security held for payment of the Obligations or to any balance of any deposit account or credit on the books of any Agent or any other Secured Party Lender in favor of any Note Loan Party or any other Person. No election to proceed in one form of action or proceedings, or against any Person, or on any Obligations, shall constitute a waiver of Agent’s 's right to proceed in any other form of action or proceeding or against any other Person unless Agent has expressed any such waiver in writing. Without limiting the generality of the foregoing, no action or proceeding by Agent against any Note Loan Party under any document evidencing or securing indebtedness of any Note Loan Party to Agent shall diminish the liability of any Guarantor hereunder, except to the extent Agent receives actual payment on account of Obligations by such action or proceeding, notwithstanding the effect of any such election, action or proceeding upon the right of subrogation of any Guarantor in respect of any Note Loan Party.

Independent Liability. The Guaranty hereunder is one of payment and performancepayment, not collection, and the obligations of each Guarantor under this Guaranty hereunder are independent of the Obligations of the other Note Loan Parties, and a separate action or actions may be brought and prosecuted against any Guarantor to enforce the terms and conditions of this Section 10Article XVI, irrespective of whether any action is brought against any other Note Loan Party or other Persons or whether any other Note Loan Party or other Persons are joined in any such action or actions. Each Guarantor waives any right to require that any resort be had by Agent or any other Secured Party Lender to any security held for payment of the Obligations or to any balance of any deposit account or credit on the books of any Agent or any other Secured Party Lender in favor of any Note Loan Party or any other Person. No election to proceed in one form of action or proceedings, or against any Person, or on any Obligations, shall constitute a waiver of Agent’s right to proceed in any other form of action or proceeding or against any other Person unless Agent has expressed any such waiver in writing. Without limiting the generality of the foregoing, no action or proceeding by Agent against any Note Loan Party under any document evidencing or securing indebtedness of any Note Loan Party to Agent shall diminish the liability of any Guarantor hereunder, except to the extent Agent receives actual payment on account of Obligations by such action or proceeding, notwithstanding the effect of any such election, action or proceeding upon the right of subrogation of any Guarantor in respect of any Note Loan Party.

Independent Liability. The Guaranty hereunder is one of payment and performance, not collection, and the obligations of each Guarantor under this Guaranty hereunder are independent of the Obligations of the other Note Loan Parties, and a separate action or actions may be brought and prosecuted against any Guarantor to enforce the terms and conditions of this Section 10subsection 10.5, irrespective of whether any action is brought against any other Note Loan Party or other Persons or whether any other Note Loan Party or other Persons are joined in any such action or actions. Each Guarantor waives any right to require that any resort be had by Agent Agent, Canadian Agent, any Issuing Lender or any other Secured Party Lender to any security held for payment of the Obligations or to any balance of any deposit account or credit on the books of Agent, Canadian Agent, any Agent Issuing Lender or any other Secured Party Lender in favor of any Note Loan Party or any other Person. No election to proceed in one form of action or proceedings, or against any Person, or on any Obligations, shall constitute a waiver of Agent’s right to proceed in any other form of action or proceeding or against any other Person unless Agent has expressed any such waiver in writing. Without limiting the generality of the foregoing, no action or proceeding by Agent against any Note Loan Party under any document evidencing or securing indebtedness of any Note Loan Party to Agent shall diminish the liability of any Guarantor hereunder, except to the extent Agent receives actual payment on account of Obligations by such action or proceeding, notwithstanding the effect of any such election, action or proceeding upon the right of subrogation of any Guarantor in respect of any Note Loan Party.