Common use of Joint and Several Liability; Contribution Clause in Contracts

Joint and Several Liability; Contribution. (a) Notwithstanding anything to the contrary in this Agreement or the other Loan Documents, all payment and performance Obligations arising under this Agreement and the other Loan Documents shall be joint and several obligations of each Borrower secured by all the Collateral. The Administrative Agent and the Collateral Agent may apply any portion of any Collateral to satisfy any of the Obligations of any other Borrower.

Appears in 2 contracts

Samples: Loan and Security Agreement (Paetec Corp), Loan and Security Agreement (Paetec Corp)

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Joint and Several Liability; Contribution. (a) Notwithstanding anything to the contrary in this Agreement or the other Loan Documents, all payment and performance Obligations arising under this Agreement and the other Loan Documents shall be joint and several obligations of each Borrower secured by all the Borrowers' Collateral. The Administrative Agent and the Collateral Agent may apply any portion of any Borrower's Collateral to satisfy any of the Obligations of any other Borrower.

Appears in 2 contracts

Samples: Loan and Security Agreement (KMC Telecom Holdings Inc), Loan and Security Agreement (KMC Telecom Holdings Inc)

Joint and Several Liability; Contribution. (a) ----------------------------------------- Notwithstanding anything to the contrary in this Agreement or the other Loan Documents, all payment and performance Obligations arising under this Agreement and the other Loan Documents shall be joint and several obligations of each Borrower secured by all the Borrowers' Collateral. The Administrative Agent and the Collateral Agent may apply any portion of any Borrower's Collateral to satisfy any of the Obligations of any other Borrower.

Appears in 1 contract

Samples: Loan and Security Agreement (Paetec Corp)

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Joint and Several Liability; Contribution. (a) Notwithstanding anything to the contrary in this Agreement or the other Loan DocumentsDocuments but subject to the provisions of SECTION 2.07(F), all payment and performance Obligations arising under this Agreement and the other Loan Documents shall be joint and several obligations of each Borrower secured by all the Borrowers' Collateral. The Administrative Agent and the Collateral Agent Lender may apply any portion of any Borrower's Collateral to satisfy any of the Obligations of any other Borrower.

Appears in 1 contract

Samples: Loan and Security Agreement (KMC Telecom Holdings Inc)

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