Common use of Independent payment obligations Clause in Contracts

Independent payment obligations. It is hereby expressly agreed and declared by the Customer that each of its obligations to pay under any of the provisions of the Security Documents shall constitute separate and independent obligations, shall give rise to separate and independent sources of action, and shall apply irrespective of any waiver or indulgence granted by the Bank in respect of any other obligation, and shall remain in full force and effect despite any judgment, order, claim or proof for a liquidated amount in respect of some other obligation and may be relied upon and enforced by the Bank independently of or simultaneously with or without having to commence any other action under such obligations or under any of the Security Documents or without having first exhausted any remedy or without having first sold or disposed of any assets, properties or undertaking which may be provided as security to the Bank from time to time.

Independent payment obligations. It is hereby expressly agreed and declared by the Customer Assignor that each of its obligations to pay or to repay under any of the provisions of this Assignment and/or any of the Security Documents shall constitute separate and independent obligations, shall give rise to separate and independent sources causes of action, and shall apply irrespective of any waiver or indulgence granted by the Bank in respect of any other obligation, and shall remain in full force and effect despite any judgment, order, claim or proof for a liquidated amount in respect of some other obligation and may be relied upon and enforced by the Bank independently of or simultaneously with or without having to commence any other action under such obligations or under any of the Security Documents or without having first exhausted any remedy or without having first sold or disposed of any assets, properties or undertaking which may be provided as security to the Bank from time to time.

Independent payment obligations. It is hereby expressly agreed and declared by the Customer Company that each of its obligations to pay under any of the provisions of the Security Documents shall constitute separate and independent obligations, shall give rise to separate and independent sources of action, and shall apply irrespective of any waiver or indulgence granted by the Bank in respect of any other obligation, and shall remain in full force and effect despite any judgment, order, claim or proof for a liquidated amount in respect of some other obligation and may be relied upon and enforced by the Bank independently of or simultaneously with or without having to commence any other action under such obligations or under any of the Security Documents or without having first exhausted any remedy or without having first sold or disposed of any assets, properties or undertaking which may be provided as security to the Bank from time to time.