Common use of Nature of a Finance Party’s rights and obligations Clause in Contracts

Nature of a Finance Party’s rights and obligations. Unless all the Finance Parties agree otherwise: (a) the obligations of a Finance Party under the Finance Documents are several; (b) failure by a Finance Party to perform its obligations does not affect the obligations of any other Party under the Finance Documents; (c) no Finance Party is responsible for the obligations of any other Finance Party under the Finance Documents; (d) the rights of a Finance Party under the Finance Documents are separate and independent rights; (e) a Finance Party may, except as otherwise stated in the Finance Documents, separately enforce those rights; and (f) a debt arising under the Finance Documents to a Finance Party is a separate and independent debt.

Appears in 20 contracts

Samples: Credit Facilities Agreement, Credit Facility Agreement, Common Terms Agreement (Sunpower Corp)

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Nature of a Finance Party’s rights and obligations. Unless all the Finance Parties agree otherwise: (a) the obligations of a Finance Party under the Finance Documents are several; (b) failure by a Finance Party to perform its obligations does not affect the obligations of any other Party person under the Finance Documents; (c) no Finance Party is responsible for the obligations of any other Finance Party under the Finance Documents; (d) the rights of a Finance Party under the Finance Documents are separate and independent rights; (e) a Finance Party may, except as otherwise stated in the Finance Documents, separately enforce those rights; and (f) a debt arising under the Finance Documents to a Finance Party is a separate and independent debt.

Appears in 20 contracts

Samples: Facility Agreement (TTM Technologies Inc), Credit Agreement, Facility Agreement (TTM Technologies Inc)

Nature of a Finance Party’s rights and obligations. Unless otherwise agreed by all the Finance Parties agree otherwiseParties: (a) the obligations of a Finance Party under the Finance Documents are several; (b) failure by a Finance Party to perform its obligations does not affect the obligations of any other Party under the Finance Documents; (c) no Finance Party is responsible for the obligations of any other Finance Party under the Finance Documents; (d) the rights of a Finance Party under the Finance Documents are separate and independent rights; (e) a Finance Party may, except as otherwise stated in the Finance Documents, separately enforce those rights; and (f) a debt arising under the Finance Documents to a Finance Party is a separate and independent debt.

Appears in 15 contracts

Samples: Credit Facility Agreement, Credit Facility Agreement (Seaspan CORP), Multicurrency Revolving Credit and Guarantee Facility (Rhodia)

Nature of a Finance Party’s rights and obligations. Unless otherwise agreed by all the Finance Parties agree otherwiseParties: (a) the obligations of a Finance Party under the Finance Documents are several; (b) failure by a Finance Party to perform its obligations does not affect the obligations of any other Party under the Finance Documents; (c) no Finance Party is responsible for the obligations of any other Finance Party under the Finance Documents; (d) the rights of a Finance Party under the Finance Documents are separate and independent rights; (e) a debt arising under the Finance Documents to a Finance Party is a separate and independent debt; and (f) a Finance Party may, except as otherwise stated in the Finance Documents, separately enforce those rights; and (f) a debt arising under the Finance Documents to a Finance Party is a separate and independent debt.

Appears in 12 contracts

Samples: Finance Agreement, Credit Facility Agreement (PPL Corp), Credit Facility Agreement (PPL Corp)

Nature of a Finance Party’s rights and obligations. Unless all the Finance Parties agree otherwise: (a) the obligations of a Finance Party under the Finance Documents are several; (b) failure by a Finance Party to perform its obligations under the Finance Documents does not affect the obligations of any other Party person under the Finance Documents; (c) no Finance Party is responsible for the obligations of any other Finance Party under the Finance Documents; (d) the rights of a Finance Party under the Finance Documents are separate and independent rights; (e) a Finance Party may, except as otherwise stated in the Finance Documents, separately enforce those rights; and (f) a debt arising under the Finance Documents to a Finance Party is a separate and independent debt.

Appears in 4 contracts

Samples: Revolving Credit Facility (Sara Lee Corp), Revolving Credit Facility (D.E Master Blenders 1753 B.V.), Credit Facility Agreement (PPG Industries Inc)

Nature of a Finance Party’s rights and obligations. Unless otherwise agreed by all the Finance Parties agree otherwiseParties: (a) the obligations of a Finance Party under the Finance Documents are several; (b) failure . Failure by a Finance Party to perform its obligations does not affect the obligations of any other Party under the Finance Documents; (c) ; no Finance Party is responsible for the obligations of any other Finance Party under the Finance Documents;; and (db) the rights of a Finance Party under the Finance Documents are separate and independent rights; (e) , and a debt arising under the Finance Documents to a Finance Party is a separate and independent debt; a Finance Party may, except as otherwise stated in the Finance Documents, separately enforce those rights; and (f) a debt arising under the Finance Documents to a Finance Party is a separate and independent debt.

Appears in 3 contracts

Samples: Facility Agreement (Smith & Nephew PLC), Loan Agreement (Smith & Nephew PLC), Credit Facility Agreement (Smith & Nephew PLC)

Nature of a Finance Party’s rights and obligations. Unless all the Finance Parties agree otherwise: (a) the obligations of a Finance Party under the Finance Documents are several; (b) failure by a Finance Party to perform its obligations does not affect the obligations of any other Party under the Finance DocumentsDocuments except as set forth in this Agreement; (c) no Finance Party is responsible for the obligations of any other Finance Party under the Finance Documents; (d) the rights of a Finance Party under the Finance Documents are separate and independent rights; (e) a Finance Party may, except as otherwise stated in the Finance Documents, separately enforce those rights; and (f) a debt arising under the Finance Documents to a Finance Party is a separate and independent debt.

Appears in 2 contracts

Samples: Credit Facility Agreement (International Paper Co /New/), Credit Facility Agreement (International Paper Co /New/)

Nature of a Finance Party’s rights and obligations. Unless otherwise agreed by all the Finance Parties agree otherwiseParties: (a) the obligations of a Finance Party under the Finance Documents are several; (b) failure by a Finance Party to perform its obligations does not affect the obligations of any other Party under the Finance Documents; (c) no Finance Party is responsible for the obligations of any other Finance Party under the Finance Documents; (d) the rights of a Finance Party under the Finance Documents are separate and independent rights; (e) a Finance Party may, except as otherwise stated in the Finance Documents, separately enforce those rights; and (f) a debt arising under the Finance Documents to a Finance Party is a separate and independent debt.

Appears in 2 contracts

Samples: Credit Facility Agreement (Merck Kgaa /Fi), Credit Facility Agreement (E. Merck oHG)

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Nature of a Finance Party’s rights and obligations. Unless otherwise agreed by all the Finance Parties agree otherwiseParties: (a) the obligations of a Finance Party under the Finance Documents are several; (b) failure by a Finance Party to perform its obligations does not affect the obligations of any other Party under the Finance Documents; (c) no Finance Party is responsible for the obligations of any other Finance Party under the Finance Documents; (d) the rights of a Finance Party under the Finance Documents are separate and independent rights; (e) a Finance Party may, except as otherwise stated in the Finance Documents, separately enforce those rights; and (f) a debt arising under the Finance Documents to a Finance Party is a separate and independent debt. This Subclause shall not operate so as to limit the liability of any Lender to the Obligors as a result of a failure by that Lender to perform its obligations under the Finance Documents or any Letter of Credit.

Appears in 1 contract

Samples: Credit Facility Agreement (Converium Holding Ag)

Nature of a Finance Party’s rights and obligations. Unless all the Finance Parties agree otherwise: (a) the obligations of a Finance Party under the Finance Documents are several; (b) failure by a Finance Party to perform its obligations does not affect the obligations of any other Party person under the Finance Documents; (c) no Finance Party is responsible for the obligations of any other Finance Party under the Finance Documents; (d) the rights of a Finance Party under the Finance Documents are separate and independent rights; (e) a Finance Party may, except as otherwise stated in the Finance Documents, separately enforce those rights; and (f) a debt arising under the Finance Documents to a Finance Party is a separate and independent debt.. 0040772-0000066 BT:1030359.12 18

Appears in 1 contract

Samples: Multicurrency Revolving Credit Facility (United States Steel Corp)

Nature of a Finance Party’s rights and obligations. Unless otherwise agreed by all the Finance Parties agree otherwiseParties: (a) the obligations of a Finance Party under the Finance Documents are severalseveral (keine Gesamtschuld); (b) failure by a Finance Party to perform its obligations does not affect the obligations of any other Party under the Finance Documents; (c) no Finance Party is responsible for the obligations of any other Finance Party under the Finance Documents; (d) the rights of a Finance Party under the Finance Documents are separate and independent rightsrights (keine Gesamtgläubigerschaft); (e) a debt arising under the Finance Documents to a Finance Party is a separate and independent debt; and (f) a Finance Party may, except as otherwise stated in the Finance Documents, separately enforce those rights; and (f) a debt arising under the Finance Documents to a Finance Party is a separate and independent debt.

Appears in 1 contract

Samples: Credit Facility Agreement (Terex Corp)

Nature of a Finance Party’s rights and obligations. Unless otherwise agreed by all the Finance Parties agree otherwiseParties: (a) the obligations of a Finance Party under the Senior Finance Documents are several; (b) failure by a Finance Party to perform its obligations does not affect the obligations of any other Party (including any other Finance Party) under the Senior Finance Documents; (c) no Finance Party is responsible for the obligations of any other Finance Party under the Senior Finance Documents; (d) the rights of a Finance Party under the Senior Finance Documents are separate and independent rights; (e) a Finance Party may, except as otherwise stated in the Finance Documents, separately enforce those rights; and (f) a debt arising under the Senior Finance Documents to a Finance Party is a separate and independent debt; and (f) a Finance Party may, except as otherwise stated in the Senior Finance Documents, separately enforce those rights.

Appears in 1 contract

Samples: Senior Credit Facility Agreement (JSG Funding PLC)

Nature of a Finance Party’s rights and obligations. Unless all the Finance Parties agree otherwise: (a) the obligations of a each Finance Party under the Finance Documents are several; (b) failure by a Finance Party to perform its obligations does not affect the obligations of any other Party person under the Finance Documents; (c) no Finance Party is responsible for the obligations of any other Finance Party under the Finance Documents; (d) the rights of a Finance Party under the Finance Documents are separate and independent rights; (e) a Finance Party may, except as otherwise stated in the Finance Documents, separately enforce those rights; and (f) a debt arising under the Finance Documents to a Finance Party is a separate and independent debt.

Appears in 1 contract

Samples: Term Loan Facilities Agreement

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