Common use of INDEPENDENT NATURE OF LENDERS' RIGHTS Clause in Contracts

INDEPENDENT NATURE OF LENDERS' RIGHTS. Nothing contained in any Loan Document and no action taken by Administrative Agent or any Lender or the Borrower or any Loan Party pursuant hereto or thereto shall be deemed to constitute Lenders and/or the Administrative Agent and/or any Loan Party to be a partnership, an association, a joint venture or any other kind of entity. The amounts payable at any time hereunder to each Lender shall be a separate and independent debt, and each Lender shall be entitled to protect and enforce its rights arising out of this Agreement and it shall not be necessary for any other Lender to be joined as an additional party in any proceeding for such purpose.