Multiple Obligors Sample Clauses

Multiple Obligors. When the Agreement is executed by more than one Borrower or Guarantor, then the words “Borrower”, “Guarantor” and “Obligor” shall mean all and any one or more of them (as applicable), and their respective successors and assigns, including debtors-in-possession and bankruptcy trustees. The obligations of each Obligor under the Agreement are joint and several. The following individuals shall sign the Agreement and become Guarantors thereby: (a) individuals responsible for the management and operations of Borrower’s business and holders of at least 20% of the economic or voting power of Borrower or Guarantor’s equity, if applicable, and (b) such other individuals as Lender, in its sole discretion, may deem acceptable as Guarantors.
Sample 1Sample 2
AutoNDA by SimpleDocs
Multiple Obligors. If “Guarantor” refers to more than one person or entity, then (i) the obligations of each such person or entity shall be joint and several; (ii) all references to the “Guarantor” herein shall, unless the context otherwise requires, refer to all such parties jointly and severally; and (iii) each such person or entity hereby waives any and all defenses based upon suretyship or guaranty or impairment of collateral. If the Guarantor is a partnership, the partnership and all general partners therein shall be jointly and severally liable hereunder. Where the “Tenant” is more than one person or entity, the word “Tenant” shall mean all and any one or more of them.
Sample 1
Multiple Obligors. (a) Each and every reference to and any and all representations, warranties, covenants and undertakings of, Borrower herein, including but not limited to the Events of Default shall be deemed to apply to each of the Persons comprising Borrower, jointly and separately. (b) The obligations and liabilities of each of the Persons comprising Borrower under, and all representations, warranties and covenants in, this Agreement and the other Loan Documents shall be direct and primary and joint and several in all respects whatsoever. (c) Bank may deal with any of the Persons comprising Borrower as if it were the sole obligor, without impairing in any way the liability of any other Person comprising Borrower or any other Loan Party. Without limiting the generality of that right, Bank may in particular release, impair, or fail to perfect an interest in any collateral of any Person comprising Borrower or any other Loan Party, waive defaults by any of them, or extend or compromise the liability of any of them without the consent of the other undersigned obligors. (d) each of the Persons comprising Borrower represents that it has carefully considered the alternatives to and the legal consequences of incurring joint and several liability under the Credit Facility and has determined that by such arrangement it is able to obtain financing on terms more favorable than otherwise, and that under a joint and several facility each will realize substantial interest savings over alternative financing arrangements. (e) each of the Persons comprising Borrower hereby irrevocably appoints Parent (the “Agent”) as its agent representative to deal with the Bank on its behalf in all respects in connection with the Credit Facility, this Agreement and the transactions contemplated herein. each of the Persons comprising Borrower agrees to be bound by all actions of the Agent in all such respects. (f) Bank may bring a separate action or actions under this Agreement and/or the Notes against each of the Persons comprising Borrower, whether such action is brought against any other Person comprising Borrower or any other Loan Party, or any other Person comprising Borrower or any other Loan Party is not joined therein. Each of the Persons comprising Borrower agrees that any compromise or release which may be given to any other Person comprising Borrower or any other Loan Party shall not release any other Person comprising Borrower or any other Loan Party not so released from its obligations hereu...
Sample 1
Multiple Obligors. If, at any time (a) Tenant shall be comprised of two (2) or more persons, or (b) there is a guarantor of any of Tenant's obligations under this lease, or (c) Tenant's interest in this lease shall have been assigned, the word "Tenant", as used in clauses (a) and (b) of Section 26.01, shall mean any one or more of the persons primarily or secondarily liable for Tenant's obligations under this lease. Any sums received by Landlord from or on behalf of Tenant during the pendency of any proceeding of the types referred to in clauses (a) and (b) of Section 26.01 shall be deemed paid as compensation for the use and occupancy of the Demised Premises and the acceptance of any such compensation by Landlord shall not be deemed an acceptance of rent or a waiver on the part of Landlord of any rights under this Article or Article 28.
Sample 1
Multiple Obligors. 11.1. [Reserved]
Sample 1
Multiple Obligors. If "GUARANTOR" refers to more than one person or ----------------- entity, then (i) the obligations of each such person or entity shall be joint and several; (ii) all references to the "GUARANTOR" shall, unless the context otherwise requires, refer to all such parties jointly and severally; and (iii) each such person or entity named as GUARANTOR waives any and all defenses based upon suretyship or guaranty or impairment of collateral. If the GUARANTOR is a partnership, the partnership and all general partners therein shall be jointly and severally liable under this Guaranty. Where the "TENANT" is more than one person or entity, the word "TENANT" shall mean all and any one or more of them.
Sample 1
Multiple Obligors 
Sample 1Sample 2Sample 3
AutoNDA by SimpleDocs

Related to Multiple Obligors

  • Multiple Borrowers This Agreement has been executed by multiple obligors who are referred to in this Agreement individually, collectively and interchangeably as "Borrower." Unless specifically stated to the contrary, the word "Borrower" as used in this Agreement, including without limitation all representations, warranties and covenants, shall include all Borrowers. Borrower understands and agrees that, with or without notice to any one Borrower, Lender may (A) make one or more additional secured or unsecured loans or otherwise extend additional credit with respect to any other Borrower; (B) with respect to any other Borrower alter, compromise, renew, extend, accelerate, or otherwise change one or more times the time for payment or other terms of any indebtedness, including increases and decreases of the rate of interest on the indebtedness; (C) exchange, enforce, waive, subordinate, fail or decide not to perfect, and release any security, with or without the substitution of new collateral; (D) release, substitute, agree not to sue, or deal with any one or more of Borrower's or any other Borrower's sureties, endorsers, or other guarantors on any terms or in any manner Lender may choose; (E) determine how, when and what application of payments and credits shall be made on any indebtedness; (F) apply such security and direct the order or manner of sale of any Collateral, including without limitation, any non-judicial sale permitted by the terms of the controlling security agreement or deed of trust, as Lender in its discretion may determine; (G) sell, transfer, assign or grant participations in all or any part of the Loan; (H) exercise or refrain from exercising any rights against Borrower or others, or otherwise act or refrain from acting; (I) settle or compromise any indebtedness; and (J) subordinate the payment of all or any part of any of Borrower's indebtedness to Lender to the payment of any liabilities which may be due Lender or others.

  • Joint and Several Liability of Borrowers (a) Each Borrower is accepting joint and several liability hereunder and under the other Loan Documents in consideration of the financial accommodations to be provided by the Lender Group under this Agreement, for the mutual benefit, directly and indirectly, of each Borrower and in consideration of the undertakings of the other Borrowers to accept joint and several liability for the Obligations.

  • Source and Amount of Funds ... 16 11. Background of the Offer; Past Contacts, Transactions or Negotiations with the Company ........................................ 16 12. Purpose of the Offer and the Merger; Plans for the Company ........... 17 13. The Merger Agreement, the Option Agreement and the Guarantee ......... 18 14. Certain Conditions to the Offeror's Obligations ...................... 29 15.

  • Joint and Several Liability of the Borrowers (a) Notwithstanding anything in this Agreement or any other Loan Document to the contrary, each of the Borrowers hereby accepts joint and several liability hereunder and under the other Loan Documents for the Obligations, in consideration of the financial accommodations to be provided by the Agents and the Lenders under this Agreement and the other Loan Documents, for the mutual benefit, directly and indirectly, of each of the Borrowers and in consideration of the undertakings of the other Borrowers to accept joint and several liability for the Obligations. Each of the Borrowers, jointly and severally, hereby irrevocably and unconditionally accepts, not merely as a surety but also as a co-debtor, joint and several liability with the other Borrowers, with respect to the payment and performance of all of the Obligations (including, without limitation, any Obligations arising under this Section 4.05) it being the intention of the parties hereto that all of the Obligations shall be the joint and several obligations of each of the Borrowers without preferences or distinction among them. If and to the extent that any of the Borrowers shall fail to make any payment with respect to any of the Obligations as and when due or to perform any of the Obligations in accordance with the terms thereof, then in each such event, the other Borrowers will make such payment with respect to, or perform, such Obligation. Subject to the terms and conditions hereof, the Obligations of each of the Borrowers under the provisions of this Section 4.05 constitute the absolute and unconditional, full recourse Obligations of each of the Borrowers, enforceable against each such Person to the full extent of its properties and assets, irrespective of the validity, regularity or enforceability of this Agreement, the other Loan Documents or any other circumstances whatsoever.

  • Initial Advance to Each Designated Subsidiary The obligation of each Lender to make an initial Advance to each Designated Subsidiary is subject to the receipt by the Agent on or before the date of such initial Advance of each of the following, in form and substance reasonably satisfactory to the Agent and dated such date:

  • Concerning Joint and Several Liability of the Borrowers (a) Each of the Borrowers is accepting joint and several liability hereunder and under the other Loan Documents in consideration of the financial accommodations to be provided by the Banks under this Credit Agreement, for the mutual benefit, directly and indirectly, of each of the Borrowers and in consideration of the undertakings of each other Borrower to accept joint and several liability for the Obligations.

  • Adjustments to Required Subordinated Percentages and Amount (a) On any date, the Issuer may, at the direction of the Beneficiary, change the Required Subordinated Percentage of Class B Notes, the Required Subordinated Percentage of Class C Notes or the Required Subordinated Percentage of Class D Notes, in each case for the Class A(2018-2) Notes, without the consent of any Noteholders; provided that the Issuer has received written confirmation from each applicable Note Rating Agency that the change in such percentage will not result in a Ratings Effect for any Tranche of Outstanding DiscoverSeries Notes.

Time is Money Join Law Insider Premium to draft better contracts faster.