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 7 contracts

Samples: Credit Agreement (Mobile Mini Inc), Credit Agreement (CVR Refining, LP), Credit Agreement (CVR Partners, Lp)

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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.), Amendment and Restatement Agreement (Tesla, Inc.), 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.), Credit Agreement (Smurfit Stone Container Corp), Credit Agreement (Smurfit Stone Container 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.), Schedules (J.Jill, Inc.), Abl Credit Agreement and Waiver (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 (VHS of Anaheim Inc), Credit Agreement (Furniture Brands International Inc)

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.. 14.03

Appears in 2 contracts

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

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 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.)

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)

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