Nature of a Finance Party’s rights and obligations. (a) The obligations of a Finance Party under the Finance Documents are several. Failure of a Finance Party to carry out those obligations does not relieve any other Party of its obligations under the Finance Documents. No Finance Party is responsible for the obligations of any other Finance Party under the Finance Documents. (b) The rights of a Finance Party under the Finance Documents are divided rights. A Finance Party may, except as otherwise stated in the Finance Documents, separately enforce those rights.
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Samples: Syndicated Bridge Loan Facility (Anglogold Ashanti LTD), Syndicated Loan Facility (Anglogold Ashanti LTD), Revolving Credit Facility (Syngenta Ag)
Nature of a Finance Party’s rights and obligations. (a) The obligations of a Finance Party under the Finance Documents are several. Failure of a Finance Party to carry out those obligations does not relieve any other Party of its obligations under the Finance Documents. No Finance Party is responsible for the obligations of any other Finance Party under the Finance Documents.
(b) The rights of a Finance Party under the Finance Documents are divided rights. A Finance Party may, except as otherwise stated in the Finance Documents, separately enforce those rights.. -------------------------------------------------------------------------------- --------------------------------------------------------------------------------
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Samples: Revolving Advance and Letter of Credit Facility (Independent Energy Holdings PLC)
Nature of a Finance Party’s rights and obligations. (a) The obligations of a Finance Party under the Finance Documents are severalseveral (“conjoint et non solidaire”). Failure of a Finance Party to carry out those obligations does not relieve any other Party of its obligations under the Finance Documents. No Finance Party is responsible for the obligations of any other Finance Party under the Finance Documents.
(b) The rights of a Finance Party under the Finance Documents are divided separate and independent rights. A Finance Party may, except as otherwise stated in the Finance Documents, separately enforce those rights.
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Samples: Multicurrency Revolving Credit Facility Agreement (Schneider Electric Sa)
Nature of a Finance Party’s rights and obligations. (aA) The obligations of a Finance Party under the Finance Documents are several. Failure of by a Finance Party to carry out those obligations does not relieve any other Party of its obligations under the Finance Documents. No Finance Party is responsible for the obligations of any other Finance Party under the Finance Documents.
(bB) The rights of a Finance Party under the Finance Documents are divided rights. A Finance Party may, except as otherwise stated in the Finance Documents, separately enforce those rights.
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Samples: Facility Agreement (Tomkins PLC)
Nature of a Finance Party’s rights and obligations. (a) The obligations of a Finance Party under the Finance Documents are several. Failure of a Finance Party to carry out those obligations does not relieve any other Party of its obligations ------------------------------------------------------------------------------ ------------------------------------------------------------------------------ under the Finance Documents. No Finance Party is responsible for the obligations of any other Finance Party under the Finance Documents.
(b) The rights of a Finance Party under the Finance Documents are divided rights. A Finance Party may, except as otherwise stated in the Finance Documents, separately enforce those rights.
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