Joint and Several Liability of Borrower. (a) Each Borrower is accepting joint and several liability hereunder and under the other Loan Documents in consideration of the financial accommodations to be provided by Lender under this Agreement, for the mutual benefit, directly and indirectly, of each Borrower and in consideration of the undertakings of the other Borrower to accept joint and several liability for the Obligations.
Joint and Several Liability of Borrower. The obligations of the LFSRI II Borrower and the Senior Quarters Borrower under this Agreement are joint and several.
Joint and Several Liability of Borrower. The liability hereunder, under the Notes and under each other Loan Document, of all of the Persons identified as Borrower shall be joint and several. Each of the Persons identified as Borrower shall be primarily and directly liable hereunder, under the Notes and under each other Loan Document.
Joint and Several Liability of Borrower. During any period in which more than one Person is signatory hereto as a “Borrower,” the following shall apply:
Joint and Several Liability of Borrower. 73 Section 8.37. Agreement of Lender..........................73 Section 8.38. Certain Fees.................................73 Section 8.39. Tax Status...................................73 Section 8.40. Cooperation..................................73 EXHIBIT A - PERMITTED INDEBTEDNESS EXHIBIT B - CERTIFICATE OF U.S. WITHHOLDING STATUS SCHEDULE I - INTENTIONALLY DELETED SCHEDULE II -COLLATERAL ASSIGNMENTS SCHEDULE III - POST-CLOSING COVENANTS SCHEDULE IV -PLEDGE AGREEMENTS SCHEDULE 4.1(d) - EXISTING AND THREATENED LITIGATION SCHEDULE 4.1(q) - MARGIN PROCEEDS SCHEDULE 4.1(z) - CERTAIN ORGANIZATIONAL DOCUMENTS LOAN AGREEMENT Dated as of July 11, 2002 by and between LFSRI II SPV REIT CORP. and SENIOR QUARTERS FUNDING CORP. collectively, (as Borrower) and CTMPII FC LF (MS) (as Lender)
Joint and Several Liability of Borrower. Section 4.01
Joint and Several Liability of Borrower. (a) All Obligations are the joint and several Obligations of each of Revolution and NewCo, and each of Revolution and NewCo must make payment upon the maturity of the Obligations by acceleration or otherwise, and this obligation and liability on the part of each of Revolution and NewCo is not affected by any extensions, renewals, and forbearance granted by Administrative Agent to any of Revolution or NewCo, Administrative Agent’s failure to give Revolution or NewCo notice of borrowing or any other notice, Administrative Agent’s failure to pursue or preserve its rights against Revolution or NewCo, the release of any Collateral now or hereafter acquired from Revolution or NewCo, and any agreement by Revolution or NewCo to pay upon any notice issued pursuant thereto is unconditional and unaffected by prior recourse by Administrative Agent to any of Revolution or NewCo or any Collateral for each of Revolution’s or NewCo’s respective obligations or the lack thereof. Each of Revolution and NewCo waives all suretyship defenses. Without limiting the generality of the foregoing, each of Revolution and NewCo acknowledges and agrees that any and all actions, inactions, or omissions by either or both Revolution and NewCo in connection with, related to, or otherwise affecting any Loan Document are the obligations of, and inure to and are binding upon, both Revolution and NewCo, jointly and severally.
