Liability for Obligations. Notwithstanding anything to the contrary contained in this Agreement or in the other Loan Documents, the parties agree that: (a) no Designated Borrower that is a Foreign Obligor shall be liable for any obligation of the Company or any Subsidiary Guarantor arising under or with respect to any of the Loan Documents; (b) each Designated Borrower that is a Foreign Obligor shall be severally liable only for the obligations of such Person; and (c) neither the Administrative Agent, any Lender, the L/C Issuer nor any Affiliate thereof, may set-off or apply any deposits of a Designated Borrower that is a Foreign Obligor or any other obligations at the time owing to or for the credit of the account of any Designated Borrower that is a Foreign Obligor by the Administrative Agent, such Lender, the L/C Issuer or such Affiliate thereof, against any or all of the obligations of the Company or any Subsidiary Guarantor.
Appears in 4 contracts
Samples: Credit Agreement (Parexel International Corp), Credit Agreement (Parexel International Corp), Credit Agreement (Parexel International Corp)
