Interests several. Notwithstanding any other term of this Agreement (but without prejudice to the provisions of this Agreement relating to or requiring action by the Majority Lenders) the interests of the Banks are several and the amount due to any Bank is a separate and independent debt. Each Bank shall have the right to protect and enforce its rights arising out of this Agreement and it shall not be necessary for any other Bank to be joined as an additional party in any Proceedings for this purpose.
Appears in 31 contracts
Samples: Facility Agreement for a Term Loan Facility (Navios Maritime Partners L.P.), Facility Agreement (EuroDry Ltd.), Facility Agreement (Euroseas Ltd.)
Interests several. Notwithstanding any other term of this Agreement (but without prejudice to the provisions of this Agreement relating to or requiring action by the Majority LendersBanks) the interests of each of the Banks are several and the amount due to any Bank each of the Banks (each for its own account) is a separate and independent debt. Each Bank of the Banks shall have the right to protect and enforce its respective rights arising out of this Agreement and it shall not be necessary for any other Bank to be joined as an additional party in any Proceedings proceedings for this purpose.
Appears in 3 contracts
Samples: Third Supplemental Agreement to the Usd600,000,000 Reducing and Revolving Credit Loan Facility (Smedvig Asa), Credit Loan Facility Agreement (Smedvig Asa), Loan Agreement (Smedvig Asa)
