Liability under Contracts. Unless otherwise decided by the Operating Committee, agreements with third parties shall be such that no Party other than the Operator shall be directly liable thereunder to such third party in connection with Joint Operations. The assumption of joint liability to a third party shall always require the unanimous vote of the Operating Committee. It shall be the responsibility of the Operator in concluding agreements to ensure that they are drafted so as to incorporate the legal position required by this Section 4.6.3.
Liability under Contracts. Notwithstanding anything in this Security Agreement to the contrary, (a) the execution of this Security Agreement shall not release any Grantor from its obligations and duties under the contracts and agreements included in the Collateral to the extent set forth therein, (b) the exercise by the Agent of any of its rights hereunder shall not release any Grantor from any of its duties or obligations under the contracts and agreements included in the Collateral, and (c) neither the Agent nor any Bank shall have any obligation or liability under the contracts and agreements included in the Collateral by reason of the execution and delivery of this Security Agreement, nor shall the Agent or any Bank be obligated to perform any of the obligations or duties of any Grantor thereunder or to take any action to collect or enforce any claim for payment assigned hereunder.
Liability under Contracts. Anything herein to the contrary notwithstanding, each Grantor shall remain liable under each of the Contracts and the Leases to observe and perform all the conditions and obligations to be observed and performed by it thereunder, all in accordance with the terms thereof. Neither the Security Trustee nor any Secured Party shall have any obligation or liability under any Contract or Lease by reason of or arising out of this Agreement or the receipt by the Security Trustee or any Secured Party of any payment relating thereto, nor shall the Security Trustee or any Secured Party be obligated in any manner to perform any of the obligations of any Grantor under or pursuant to any Contract or Lease, to make any payment, to make any inquiry as to the nature or the sufficiency of any payment received by it or as to the sufficiency of any performance by any party thereunder, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts which may have been assigned to it or to which it may be entitled at any time or times.
Liability under Contracts. Notwithstanding anything in this Security Agreement to the contrary, (a) the execution of this Security Agreement shall not release the Grantor from its obligations and duties under the contracts and agreements included in the Collateral to the extent set forth therein, (b) the exercise by the Agent of any of its rights hereunder shall not release the Grantor from any of its duties or obligations under the contracts and agreements included in the Collateral, and (c) neither the Agent nor any Bank shall have any obligation or liability under the contracts and
Liability under Contracts. Any written instrument creating an obligation of a Fund shall be conclusively taken to have been executed or done by the Manager on behalf of the relevant Fund in its capacity as Manager under this Trust Agreement. The Manager shall use its commercially reasonable efforts to ensure that any written instrument creating a material obligation of the Funds refers to the Trust Agreement and contains a term or other provision to the effect that the obligations created thereunder are not personally binding upon, nor shall resort be had to, nor recourse or satisfaction sought from, the private property of any of the Unitholders. The omission of such recital, term or other provision shall not impose or have the effect of imposing personal liability on the Manager or its directors, officers, employees or agents or on any of the Unitholders or agents of a Fund, whether in contract, tort or otherwise. DESCRIPTION OF UNITS
Liability under Contracts. Any written instrument creating an obligation of the Fund (including the loan documents in respect of any borrowing) shall be conclusively taken to have been executed or done by the Trustee only in the capacity of Trustee under this Trust Agreement. Any written instrument creating an obligation of the Fund shall refer, where applicable, to this Trust Agreement and contain a disavowal of liability upon and waiver of claim against Unitholders and indicate that the obligations thereunder are not personally binding upon, nor shall resort be had to the private property of, the Trustee, the Manager, an Investment Advisor, any Unitholder, or any director, officer, employee or agent of the Trustee, the Manager or an Investment Advisor, but the Fund Property or a specific portion thereof only shall be bound, but the omission of such provision shall not operate to impose personal liability on the Trustee, the Manager, an Investment Advisor, any Unitholder, or any of the officers, directors, employees or agents of the Trustee, the Manager or an Investment Advisor.
Liability under Contracts. Anything herein to the contrary notwithstanding, (i) the Company shall remain liable under any contracts, agreements and other documents included in the Collateral, to the extent set forth therein, to perform all of its duties and obligations thereunder to the same extent as if this Agreement had not been executed, (b) the Secured Party’s exercise of any of the rights hereunder shall not release the Company from any of its duties or obligations under such contracts, agreements and other documents, and (c) the Secured Party shall not have any obligation or liability under such contracts, agreements and other documents by reason of this Agreement, nor shall the Secured Party be obligated to perform any of the Secured Obligations or duties of the Company thereunder or to take any action to collect or enforce any such contract, agreement or other document.
Liability under Contracts. Notwithstanding anything herein to the contrary (i) each Borrower shall remain liable under all of its Contracts and any other contracts and agreements between each Borrower and any Contract Obligors or otherwise included in or related to the Collateral, to the extent set forth therein, and shall perform all of its duties and obligations thereunder to the same extent as if this Agreement had not been executed, (ii) the exercise by Lender of any rights under any of the Loan Documents shall not release any Borrower from any of its duties or obligations under any Contracts or any such other contracts and agreements, and (iii) Lender shall not have any obligation or liability under the Contracts or any such other contracts and agreements, nor shall Lender be obligated to perform any of the obligations or duties of any Borrower thereunder or to take any action to collect or enforce any rights thereunder.
Liability under Contracts. Subject to each Loan Party's rights and duties under the Bankruptcy Code (including section 365 of the Bankruptcy Code), it is expressly agreed by each Loan Party that, anything herein to the contrary notwithstanding, such Loan Party shall remain liable under its Contracts to observe and perform all the conditions and obligations to be observed and performed by it thereunder. Neither the Administrative Agent nor any Secured Party shall have any obligation or liability under any Contract by reason of or arising out of this Agreement, the Loan Documents, or the granting to the Administrative Agent of a security interest therein or the receipt by the Administrative Agent or any Lender of any payment relating to any Contract pursuant hereto, nor shall the Administrative Agent be required or obligated in any manner to perform or fulfill any of the obligations of any Loan Party under or pursuant to any Contract, or to make any payment, or to make any inquiry as to the nature or the sufficiency of any payment received by it or the sufficiency of any performance by any party under any Contract, or to present or file any Claim, or to take any action to collect or enforce any performance or the payment of any amounts which may have been assigned to it or to which it may be entitled at any time or times.
