Joint Borrowers. If more than one party executes this Agreement as Borrower, then for the purpose of this Agreement the term Borrower shall mean each such party and each such party shall be jointly and severally liable as Borrower for the Obligations as defined herein without regard to which party receives the proceeds of any of the Loans. Each such party hereby acknowledges that it expects to derive economic advantage from each of the Loans.
Appears in 3 contracts
Samples: Loan and Security Agreement (Judge Group Inc), Loan Agreement (Neutral Posture Ergonomics Inc), Loan and Security Agreement (Judge Group Inc)
Joint Borrowers. If more than one party executes this Agreement as Borrower, then for the purpose of this Agreement the term Borrower shall be read to mean each such party and each such party shall be jointly and severally liable as Borrower for the Obligations as defined herein without regard to which party receives the proceeds of any of the Loans. Each such party hereby acknowledges that it expects to derive economic advantage from each of the Loans.
Appears in 2 contracts
Samples: Loan and Security Agreement (Usa Detergents Inc), Loan and Security Agreement (Usa Detergents Inc)
Joint Borrowers. If more than one party executes this Agreement as Borrower, then for the purpose of this Agreement the term Borrower shall mean each such party and each such party shall be jointly and severally liable as Borrower for the Obligations as defined herein without regard to which party receives the proceeds of any of the Loans. Each such party hereby acknowledges that it expects to derive economic advantage from each of the Loans. As among the parties constituting Borrower, each such party acknowledges and agrees that each other such party has a right of contribution against each party that is a Borrower with respect to any and all amounts paid to Bank hereunder.
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Joint Borrowers. If more than one party executes this Agreement as Borrower, then for the purpose of this Agreement the term Borrower shall mean each such party and each such party shall be jointly and severally liable as Borrower for the Obligations as defined herein without regard to which party receives the proceeds of any of the Revolving Loans. Each such party hereby acknowledges that it expects to derive economic advantage from each of the Revolving Loans.
Appears in 1 contract
Samples: Revolving Loan and Security Agreement (Measurement Specialties Inc)
Joint Borrowers. If more than one party executes this Agreement as Borrower, then for the purpose of this Agreement the term Borrower shall mean each such party and each such party shall be jointly and severally liable as Borrower for the Obligations as defined herein without regard to which party receives the proceeds of any of the Loans. Each such party hereby acknowledges that it expects to derive economic advantage from each of the Loans.
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Samples: Loan and Security Agreement (Community Distributors Inc)
Joint Borrowers. If more than one party executes this Agreement as Borrower, then for the purpose of this Agreement the term Borrower "Borrower" shall mean each such party and each such party shall be jointly and severally liable as Borrower for the Obligations Indebtedness as defined herein without regard to which party receives the proceeds of any of the Loans. Each such party hereby acknowledges that it expects to derive economic advantage from each of the Loans.
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