Liability of Borrower to be Joint and Several Sample Clauses

Liability of Borrower to be Joint and Several. The liability of the Borrower to repay the Loan together with interest etc. and to observe the terms and conditions of this Agreement and/or other agreement/s, documents/s that may have been or may be executed by the Borrower with IHFL in respect of this or any other loan or loans, is joint and several.
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Liability of Borrower to be Joint and Several. Where the Loan is provided to more than one Borrower and the loan amount is disbursed to any one of the Borrowers, then it would amount to disbursement to all the Borrowers and Co- Borrowers. Notwithstanding anything herein stated, the liability of the Borrower to repay the Loan together with interest, etc. and to observe the terms and conditions of this Agreement/and any other Agreement's, document's that may have been or may be executed by the Borrower with the Bank in respect of this Loan or any other Loan or Loans is joint and several.
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Liability of Borrower to be Joint and Several. The liability of the Borrower to repay the loan together with interest, group - life insurance premium, general insurance premium etc. and to observe the terms and condition of this Agreement/and any other Agreement, documents that may have been or may be executed by the borrower with Federation in respect of this loan or any other loan or loans is joint and several.
Sample 1
Liability of Borrower to be Joint and Several. The liability of the Borrower to repay the loan together with interest etc., and to observe the terms and conditions of this Agreement and any other Agreement/s documents that may have been or may be executed by the Borrower with Bank in respect of this loan or any other loan granted by Bank to the Borrower shall be joint and several. To give effect to the above, the Borrower authorizes Bank to disburse the loan amount to any one of the Borrowers on behalf of other Borrower(s) and further agree that the payment so made shall entitle Bank to demand repayment of the entire loan from any one or more of the Borrower, at any time, that Bank may deem fit. The Borrower further agrees that even though this agreement and other security documents mention a specific rate of interest, the borrower is liable to pay interest at the said rate and at such other rates as may be notified to them by Bank from time to time. The notice so received by the Borrower, at any of them shall be sufficient and binding on all the Borrower individually and each one of the borrowers hereby authorises the other(s) to receive such notice for himself/herself and for others. The Borrower agrees upon that the failure of the Borrowers to put the account in order as and when demanded by BANK, BANK shall be at liberty to give time for payment to any one or more of the Borrower on verbal or written application without prejudice to the liability of the Borrower or any one or more of them or to anyone or more of the remedies available to BANK in respect of the account. The Borrower agrees that his/her/their responsibility for repayment of all amounts due to BANK under the loan account is joint and several. Further, the Borrower agrees that in the matter of making payment towards this debt or acknowledging this debt or any part thereof as and when called upon by BANK to do so for the specific purpose of saving limitation, the Borrower authorises each of their act as an agent on behalf as any one or more of them for the purpose of making payment to the loan account and/or giving acknowledgement of debt from time to time. The Borrower further agrees that the payment or acknowledgement made or given by any one or more of them shall be binding on all the Borrower jointly and/or severally and that the said payment and acknowledgment so made or given by one or more of the Borrower shall have limitation against the Borrower jointly and/or severally. The Borrower confirms that the rules governing the loan h...
Sample 1
Liability of Borrower to be Joint and Several. The liability of the Borrower to repay the Loan Amount, together with Interest, Outstanding Amount, and/or any other monies/charges payable by the Borrower to Bank, and to observe the terms and conditions of this Agreement, is, and shall remain, joint and several.
Sample 1

Related to Liability of Borrower to be Joint and Several

  • Joint and Several Liability Each Borrower agrees that it is jointly and severally liable for, and absolutely and unconditionally guarantees to Agent and Lenders the prompt payment and performance of, all Obligations and all agreements under the Loan Documents. Each Borrower agrees that its guaranty obligations hereunder constitute a continuing guaranty of payment and not of collection, that such obligations shall not be discharged until Full Payment of the Obligations, and that such obligations are absolute and unconditional, irrespective of (a) the genuineness, validity, regularity, enforceability, subordination or any future modification of, or change in, any Obligations or Loan Document, or any other document, instrument or agreement to which any Obligor is or may become a party or be bound; (b) the absence of any action to enforce this Agreement (including this Section) or any other Loan Document, or any waiver, consent or indulgence of any kind by Agent or any Lender with respect thereto; (c) the existence, value or condition of, or failure to perfect a Lien or to preserve rights against, any security or guaranty for the Obligations or any action, or the absence of any action, by Agent or any Lender in respect thereof (including the release of any security or guaranty); (d) the insolvency of any Obligor; (e) any election by Agent or any Lender in an Insolvency Proceeding for the application of Section 1111(b)(2) of the Bankruptcy Code; (f) any borrowing or grant of a Lien by any other Borrower, as debtor-in-possession under Section 364 of the Bankruptcy Code or otherwise; (g) the disallowance of any claims of Agent or any Lender against any Obligor for the repayment of any Obligations under Section 502 of the Bankruptcy Code or otherwise; or (h) any other action or circumstances that might otherwise constitute a legal or equitable discharge or defense of a surety or guarantor, except Full Payment of all Obligations.

  • Joint and Several If there is more than one Tenant, the obligations imposed upon Tenant under this Lease shall be joint and several.

  • Joint and Several Obligations THE OBLIGATIONS OF THE GUARANTORS HEREUNDER SHALL BE JOINT AND SEVERAL, AND ACCORDINGLY, EACH GUARANTOR CONFIRMS THAT IT IS LIABLE FOR THE FULL AMOUNT OF THE “GUARANTIED OBLIGATIONS” AND ALL OF THE OBLIGATIONS AND LIABILITIES OF EACH OF THE OTHER GUARANTORS HEREUNDER.

  • Limitations of contractual liability No Party shall be responsible to any other Party for any indirect or consequential loss or similar damage such as, but not limited to, loss of profit, loss of revenue or loss of contracts, provided such damage was not caused by a willful act or by a breach of confidentiality. For any remaining contractual liability, a Party’s aggregate liability towards the other Parties collectively shall be limited to the Party’s share of the total costs of the Project as identified in Project Contract, provided such damage was not caused by a willful act or gross negligence. The terms of the Partnership Agreement shall not be construed to amend or limit any Party’s statutory liability.

  • Several Liability In any action involving the Acquiring Funds under this Agreement, each Acquired Fund agrees to look solely to the individual Acquiring Fund that is involved in the matter in controversy and not to any other series of the Investing Company. In any action involving the Acquired Funds under this Agreement, each Acquiring Fund agrees to look solely to the individual Acquired Fund that is involved in the matter in controversy and not to any other series of the Trust.

  • Obligations Absolute The obligation of the Borrower to reimburse the L/C Issuer for each drawing under each Letter of Credit and to repay each L/C Borrowing shall be absolute, unconditional and irrevocable, and shall be paid strictly in accordance with the terms of this Agreement under all circumstances, including the following:

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