Common use of Independent Obligation Clause in Contracts

Independent Obligation. The obligations of each Borrower with respect to the Obligations are independent of the obligations of each other Borrower or any Guarantor under the Guaranty of such Obligations, and a separate action or actions may be brought and prosecuted against each Borrower, whether or not any other Borrower or any Guarantor is joined in any such action or actions. Each Borrower waives, to the fullest extent permitted by law, the benefit of any statute of limitations affecting its liability hereunder or the enforcement thereof. Any payment by any Borrower or other circumstance which operates to toll any statute of limitations as to any Borrower shall, to the fullest extent permitted by law, operate to toll the statute of limitations as to each Borrower.

Appears in 9 contracts

Samples: Abl Credit Agreement (CVR Energy Inc), Abl Credit Agreement (Mobile Mini Inc), Abl Credit Agreement (CVR Partners, Lp)

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Independent Obligation. The obligations of each Borrower with respect to the Obligations Guarantor hereunder are independent of the obligations of each any other Borrower guarantor or any Guarantor under the Guaranty of such ObligationsBorrower, and a separate action or actions may be brought and prosecuted against each Borrower, Guarantor whether or not action is brought against any other guarantor or any Borrower and whether or not any other Borrower Guarantor or any Guarantor is Borrower be joined in any such action or actions. Each Borrower Guarantor waives, to the fullest extent permitted by law, the benefit of any statute of limitations affecting its liability hereunder or the enforcement thereof. Any payment by any Borrower or other circumstance which operates to toll any statute of limitations as to any such Borrower shall, to the fullest extent permitted by law, shall operate to toll the statute of limitations as to each BorrowerGuarantor.

Appears in 7 contracts

Samples: Term Loan and Revolving Credit Agreement (Foster Wheeler LTD), Global Revolving Credit Agreement (Sealed Air Corp/De), Credit Agreement (Artesyn Technologies Inc)

Independent Obligation. The obligations of each Borrower with respect to the its Borrower Obligations are independent of the obligations Obligations of each other Borrower or any Guarantor under the its Guaranty of such Borrower Obligations, and a separate action or actions may be brought and prosecuted against each Borrower, whether or not any other Borrower or any Guarantor is joined in any such action or actions. Each Borrower waives, to the fullest extent permitted by law, the benefit of any statute of limitations affecting its liability hereunder or the enforcement thereof. Any payment by any Borrower or other circumstance which operates to toll any statute of limitations as to any Borrower shall, to the fullest extent permitted by law, operate to toll the statute of limitations as to each Borrower.

Appears in 6 contracts

Samples: Abl Credit Agreement (Tesla, Inc.), Abl Credit Agreement (Tesla, Inc.), Abl Credit Agreement (Ciena Corp)

Independent Obligation. The obligations of each Borrower with respect to the its Borrower Obligations are independent of the obligations Loan Document Obligations of each other Borrower or any Guarantor under the Guaranty its Guarantee of such Borrower Obligations, and a separate action or actions may be brought and prosecuted against each Borrower, whether or not any other Borrower or any Guarantor is joined in any such action or actions. Each Borrower waives, to the fullest extent permitted by law, the benefit of any statute of limitations affecting its liability hereunder or the enforcement thereof. Any payment by any Borrower or other circumstance which operates to toll any statute of limitations as to any Borrower shall, to the fullest extent permitted by law, operate to toll the statute of limitations as to each Borrower.

Appears in 4 contracts

Samples: Credit Agreement (Resolute Forest Products Inc.), Abl Credit Agreement (Smurfit Stone Container Corp), Abl Credit Agreement (Smurfit Stone Container Corp)

Independent Obligation. The obligations of each Borrower with respect to the Obligations Guarantor hereunder are independent of the obligations of each any other Borrower Guarantor or any Guarantor under the Guaranty of such ObligationsBorrower, and a separate action or actions may be brought and prosecuted against each Borrower, Guarantor whether or not action is brought against any other Guarantor or the Borrower and whether or not any other guarantor or the Borrower or any Guarantor is be joined in any such action or actions. Each Borrower Guarantor waives, to the fullest extent permitted by law, the benefit of any statute of limitations affecting its liability hereunder or the enforcement thereof. Any payment by any the Borrower or other circumstance circumstances which operates operate to toll any statute of limitations as to any the Borrower shall, to the fullest extent permitted by law, shall operate to toll the statute of limitations as to each BorrowerGuarantor.

Appears in 4 contracts

Samples: Super Priority Debtor in Possession and Exit Credit and Guarantee Agreement (Northwest Airlines Corp), Credit and Guarantee Agreement (Northwest Airlines Corp), Credit and Guarantee Agreement (Northwest Airlines Corp)

Independent Obligation. The obligations of each Borrower with respect to the Obligations are independent of one another and of the obligations of each other Borrower or any Guarantor Parent under the Guaranty of such Obligations, and a separate action or actions may be brought and prosecuted against each BorrowerBorrower and Parent (in its capacity as a Guarantor), whether or not any other Borrower or any Guarantor Parent is joined in any such action or actions. Each Borrower waives, to the fullest extent permitted by law, the benefit of any statute of limitations affecting its liability hereunder or the enforcement thereof. Any payment by any Borrower or other circumstance which operates to toll any statute of limitations as to any Borrower shall, to the fullest extent permitted by law, operate to toll the statute of limitations as to each Borrower.

Appears in 4 contracts

Samples: Abl Credit Agreement (J.Jill, Inc.), Abl Credit Agreement (J.Jill, Inc.), Abl Credit Agreement (J.Jill, Inc.)

Independent Obligation. The obligations of each Borrower with respect to the Obligations are independent of the obligations of each the other Borrower or any Guarantor under the Guaranty of such Obligationsguarantor, and a separate action or actions may be brought and prosecuted against each Borrower, whether or not any other Borrower or any Guarantor guarantor is joined in any such action or actions. Each Borrower waives, to the fullest extent permitted by law, the benefit of any statute of limitations affecting its liability hereunder or the enforcement thereof. Any payment by any Borrower or other circumstance which operates to toll any statute of limitations as to any Borrower shall, to the fullest extent permitted by law, operate to toll the statute of limitations as to each Borrower.

Appears in 3 contracts

Samples: Credit Agreement (Furniture Brands International Inc), Credit Agreement (Furniture Brands International Inc), Credit Agreement (VHS of Anaheim Inc)

Independent Obligation. The With respect to the Obligations, the obligations of each Borrower with respect to the Obligations thereto are independent of the obligations of each the other Borrower or any Guarantor under the Guaranty of such ObligationsGuarantor, and a separate action or actions may be brought and prosecuted against each Borrower, whether or not any the other Borrower or any Guarantor is joined in any such action or actions. Each Borrower waives, to the fullest extent permitted by law, the benefit of any statute of limitations affecting its liability hereunder or the enforcement thereof. Any payment by any Borrower or other circumstance which operates to toll any statute of limitations as to any such Borrower shall, to the fullest extent permitted by law, operate to toll the statute of limitations as to each Borrower.

Appears in 2 contracts

Samples: Facility Agreement, Facility Agreement (Equinix Inc)

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Independent Obligation. The obligations of each Borrower with respect to the Obligations Holdings hereunder ---------------------- are independent of the obligations of each any other Borrower guarantor or any Guarantor under the Guaranty of such ObligationsBorrower, and a separate action or actions may be brought and prosecuted against each Borrower, Holdings whether or not action is brought against any other guarantor or the Borrower and whether or not any other guarantor or the Borrower or any Guarantor is be joined in any such action or actions. Each Borrower Holdings waives, to the fullest extent permitted by law, the benefit of any statute statue of limitations affecting its liability hereunder or the enforcement thereof. Any payment by any the Borrower or other circumstance which operates to toll any statute of limitations as to any the Borrower shall, to the fullest extent permitted by law, shall operate to toll the statute of limitations as to each BorrowerHoldings.

Appears in 1 contract

Samples: Credit Agreement (Physician Health Corp)

Independent Obligation. The With respect to the Obligations, the obligations of each Borrower with respect to the Obligations thereto are independent of the obligations of each the other Borrower or any Guarantor under the Guaranty of such Obligationsother guarantor, and a separate action or actions may be brought and prosecuted against each either Borrower, whether or not any the other Borrower or any Guarantor other guarantor is joined in any such action or actions. Each Borrower waives, to the fullest extent permitted by law, the benefit of any statute of limitations affecting its liability hereunder or the enforcement thereof. Any payment by any either Borrower or other circumstance which operates to toll any statute of limitations as to any such Borrower shall, to the fullest extent permitted by law, operate to toll the statute of limitations as to each Borrower.

Appears in 1 contract

Samples: Credit Agreement (Dominos Inc)

Independent Obligation. The obligations of each Borrower with respect to the Obligations are independent of the obligations of each the other Borrower Borrowers or any Guarantor under the Guaranty of such Obligationsguarantor, and a separate action or actions may be brought and prosecuted against each Borrower, whether or not any other Borrower or any Guarantor guarantor is joined in any such action or actions. Each Borrower waives, to the fullest extent permitted by law, the benefit of any statute of limitations affecting its liability hereunder or the enforcement thereof. Any payment by any Borrower or other circumstance which operates to toll any statute of limitations as to any Borrower shall, to the fullest extent permitted by law, operate to toll the statute of limitations as to each Borrower.

Appears in 1 contract

Samples: Credit Agreement (Furniture Brands International Inc)

Independent Obligation. The obligations of each Borrower with respect to the its respective Obligations are independent of the obligations of each other Borrower or any Guarantor Loan Party under the Guaranty its Guarantee of such Obligations, and a separate action or actions may be brought and prosecuted against each BorrowerLoan Party, whether or not any other Borrower Loan Party or any Guarantor Loan Party under its Guarantee is joined in any such action or actions. Each Borrower waives, to the fullest extent permitted by law, the benefit of any statute of limitations affecting its liability hereunder or the enforcement thereof. Any payment by any Borrower or other circumstance which operates to toll any statute of limitations as to any Borrower shall, to the fullest extent permitted by law, operate to toll the statute of limitations as to each BorrowerLoan Party.

Appears in 1 contract

Samples: Abl Credit Agreement (Affinia Group Intermediate Holdings Inc.)

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