Common use of Interests several Clause in Contracts

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 Banks) the interests of the Agent, the Security Trustee, the Arranger and the Banks are several and the amount due to the Agent (for its own account), to the Arranger, to the Security Trustee and to each Bank is a separate and independent debt. The Agent, the Security Trustee, the Arranger and each Bank shall have the right to protect and enforce its rights arising out of this Agreement and it shall not be necessary for the Agent, the Security Trustee, the Arranger or any Bank (as the case may be) to be joined as an additional party in any proceedings for this purpose.

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 Banks) the interests of the Agent, the Security TrusteeArrangers, the Arranger Security Trustee and the Banks are several and the amount due to the Agent (for its own account), to the each Arranger, to the Security Trustee and to each Bank is a separate and independent debt. The Agent, each Arranger, the Security Trustee, the Arranger Trustee and each Bank shall have the right to protect and enforce its rights arising out of this Agreement and it shall not be necessary for the Agent, any Arranger, the Security Trustee, the Arranger Trustee or any Bank (as the case may be) to be joined as an additional party in any proceedings for this purpose.