Common use of Limitations on Obligations Clause in Contracts

Limitations on Obligations. It is expressly agreed by each Borrower that, notwithstanding any other provision of this Agreement, each Borrower shall remain liable under each Receivable and contract giving rise to each Receivable to observe and perform all the conditions and obligations to be observed and performed by each Borrower in accordance with and pursuant to the terms and provisions of each such Receivable and contract. Neither the Administrative Agent nor any Lender shall have any obligation or liability under any Receivable or contract by reason of or arising out of this Agreement or the assignment of such Receivable or contract to the Administrative Agent, for the ratable benefit of the Lenders, or the receipt by the Administrative Agent, for the ratable benefit of the Lenders, of any payment relating to the Receivable pursuant to this Agreement, nor shall the Administrative Agent or any Lender be required or obligated in any manner to perform or fulfill any of the obligations of a Borrower under or pursuant to any Receivable or 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 Receivable, or to present or file any claim, or to take any action to collect or enforce any performance or the payment of any amounts that may have been assigned to it or to which it may be entitled at any time or times.

Appears in 7 contracts

Samples: Loan and Security Agreement (NCI, Inc.), Loan and Security Agreement (Global Defense Technology & Systems, Inc.), Loan and Security Agreement (Global Defense Technology & Systems, Inc.)

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Limitations on Obligations. It is expressly agreed by each the Borrower that, notwithstanding any other provision of this Agreementanything herein to the contrary notwithstanding, each the Borrower shall remain liable under each Account Receivable and contract giving rise to each Account Receivable to observe and perform all the conditions and obligations to be observed and performed by each the Borrower thereunder, all in accordance with and pursuant to the terms and provisions of each such Account Receivable and contract. Neither the Administrative Agent nor any The Lender shall not have any obligation or liability under any Account Receivable or contract by reason of or arising out of this Agreement or the assignment of such Account Receivable or contract to the Administrative Agent, for the ratable benefit of the Lenders, Lender or the receipt by the Administrative Agent, for the ratable benefit of the Lenders, Lender of any payment relating to the Account Receivable pursuant to this Agreementhereto, nor shall the Administrative Agent or any Lender be required or obligated in any manner to perform or fulfill any of the obligations of a the Borrower under or pursuant to any Account Receivable or 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 Account Receivable, or to present or file any claim, or to take any action to collect or enforce any performance or of the payment of any amounts that which may have been assigned to it or to which it may be entitled at any time or times.

Appears in 1 contract

Samples: Loan and Security Agreement (Template Software Inc)

Limitations on Obligations. It is expressly agreed by each Borrower the Borrowers that, notwithstanding any other provision of this Agreement, each Borrower the Borrowers shall remain liable under each Receivable and contract giving rise to each Receivable to observe and perform all the conditions and obligations to be observed and performed by each any Borrower in accordance with and pursuant to the terms and provisions of each such Receivable and contract. Neither the Administrative Agent nor any The Lender shall not have any obligation or liability under any Receivable or contract by reason of or arising out of this Agreement or the assignment of such Receivable or contract to the Administrative Agent, for the ratable benefit of the Lenders, Lender or the receipt by the Administrative Agent, for the ratable benefit of the Lenders, Lender of any payment relating to the Receivable pursuant to this Agreement, nor shall the Administrative Agent or any Lender be required or obligated in any manner to perform or fulfill any of the obligations of a any Borrower under or pursuant to any Receivable or 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 Receivable, or to present or file any claim, or to take any action to collect or enforce any performance or the payment of any amounts that may have been assigned to it or to which it may be entitled at any time or times.

Appears in 1 contract

Samples: Loan and Security Agreement (Titan Corp)

Limitations on Obligations. It is expressly agreed by each Borrower that, notwithstanding any other provision of this Agreement, each Borrower shall remain liable under each Receivable and contract giving rise to each Receivable to observe and perform all the conditions and obligations to be observed and performed by each Borrower in accordance with and pursuant to the terms and provisions of each such Receivable and contract. Neither the Administrative Agent nor any The Lender shall not have any obligation or liability under any Receivable or contract by reason of or arising out of this Agreement or the assignment of such Receivable or contract to the Administrative Agent, for the ratable benefit of the Lenders, Lender or the receipt by the Administrative Agent, for the ratable benefit of the Lenders, Lender of any payment relating to the Receivable pursuant to this Agreement, nor shall the Administrative Agent or any Lender be required or obligated in any manner to perform or fulfill any of the obligations of a Borrower under or pursuant to any Receivable or 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 Receivable, or to present or file any claim, or to take any action to collect or enforce any performance or the payment of any amounts that may have been assigned to it or to which it may be entitled at any time or times.

Appears in 1 contract

Samples: Loan and Security Agreement (Halifax Corp)

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Limitations on Obligations. It is expressly agreed by each Borrower the Borrowers that, notwithstanding any other provision of this Agreementanything herein to the contrary notwithstanding, each Borrower the Borrowers shall remain liable under each Account Receivable and contract giving rise to each Account Receivable to observe and perform all the conditions and obligations to be observed and performed by each Borrower the Borrowers thereunder, all in accordance with and pursuant to the terms and provisions of each such Account Receivable and contract. Neither the Administrative Agent nor any The Lender shall not have any obligation or liability under any Account Receivable or contract by reason of or arising out of this Agreement or the assignment of such Account Receivable or contract to the Administrative Agent, for the ratable benefit of the Lenders, Lender or the receipt by the Administrative Agent, for the ratable benefit of the Lenders, Lender of any payment relating to the Account Receivable pursuant to this Agreement, hereto nor shall the Administrative Agent or any Lender be required or obligated in any manner to perform or fulfill any of the obligations of a Borrower the Borrowers under or pursuant to any Account Receivable or contract, or to make any payment, 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 Account Receivable, or to present or file any claim, or to take any action to collect or enforce any performance or of the payment of any amounts that which may have been assigned to it or to which it may be entitled at any time or times.

Appears in 1 contract

Samples: Loan and Security Agreement (Spacehab Inc \Wa\)

Limitations on Obligations. It is expressly agreed by each the Borrower thatthat anything herein to the contrary notwithstanding, notwithstanding any other provision of this Agreement, each the Borrower shall remain liable under each Account Receivable and contract giving rise to each Account Receivable to observe and perform all the conditions and obligations to be observed and performed by each Borrower the Borrow thereunder, all in accordance with and pursuant to the terms and provisions of each such Account Receivable and contract. Neither the Administrative Agent nor any The Lender shall not have any obligation or liability under any Account Receivable or contract by reason of or arising out of this Agreement or the assignment of such Account Receivable or contract to the Administrative Agent, for the ratable benefit of the Lenders, Lender or the receipt by the Administrative Agent, for the ratable benefit of the Lenders, Lender of any payment relating to the Account Receivable pursuant to this Agreementhereto, nor shall the Administrative Agent or any Lender be required or obligated in any manner to perform or fulfill any of the obligations of a the Borrower under or pursuant to any Account Receivable or 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 Account Receivable, or to present or file any claim, or to take any action to collect or enforce any performance or of the payment of any amounts that which may have been assigned to it or to which it may be entitled at any time or times.

Appears in 1 contract

Samples: Loan and Security Agreement (Dunn Computer Corp)

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