Nature of a Finance Party’s rights and obligations. Unless otherwise agreed by all the Finance Parties: 2.3.1 the obligations of a Finance Party under the Finance Documents are several; 2.3.2 failure by a Finance Party to perform its obligations does not affect the obligations of any other Party under the Finance Documents; 2.3.3 no Finance Party is responsible for the obligations of any other Finance Party under the Finance Documents; 2.3.4 the rights of a Finance Party under the Finance Documents are separate and independent rights; 2.3.5 a debt arising under the Finance Documents to a Finance Party is a separate and independent debt; and 2.3.6 a Finance Party may, except as otherwise stated in the Finance Documents, separately enforce those rights.
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Samples: Multicurrency Revolving Facilities Agreement (PPL Energy Supply LLC), Amendment and Restatement Agreement (PPL Energy Supply LLC), Multicurrency Revolving Facilities Agreement (PPL Energy Supply LLC)
Nature of a Finance Party’s rights and obligations. Unless otherwise agreed by all the Finance Parties:
2.3.1 the 2.5.1 The obligations of a Finance Party under the Finance Documents are several;
2.3.2 failure by . Failure of a Finance Party to perform its carry out those obligations does not affect the obligations of relieve any other Party of its obligations under the Finance Documents;
2.3.3 no . No Finance Party is responsible for the obligations of any other Finance Party under the Finance Documents;.
2.3.4 the 2.5.2 The rights of a Finance Party under the Finance Documents are separate divided rights and independent rights;
2.3.5 a any debt arising under the Finance Documents to a Finance Party is from an Obligor shall be a separate and independent debt; and
2.3.6 a . A Finance Party may, except as otherwise stated in the Finance Documents, separately enforce those rights.
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Samples: Revolving Credit Facility (British American Tobacco p.l.c.)
Nature of a Finance Party’s rights and obligations. Unless otherwise agreed by all the Finance Parties:
2.3.1 2.2.1 the obligations of a Finance Party under the Finance Documents are several;
2.3.2 2.2.2 failure by a Finance Party to perform its obligations does not affect the obligations of any other Party under the Finance Documents;
2.3.3 2.2.3 no Finance Party is responsible for the obligations of any other Finance Party under the Finance Documents;
2.3.4 2.2.4 the rights of a Finance Party under the Finance Documents are separate and independent rights;
2.3.5 a debt arising under the Finance Documents to a Finance Party is a separate and independent debt; and
2.3.6 2.2.5 a Finance Party may, except as otherwise stated in the Finance Documents, separately enforce those rights; and
2.2.6 a debt arising under the Finance Documents to a Finance Party is a separate and independent debt.
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Samples: Facilities Agreement (Royal Ahold)
Nature of a Finance Party’s rights and obligations. Unless otherwise agreed by all the Finance Parties:
2.3.1 (a) the obligations of a Finance Party under the Finance Documents are several;
2.3.2 failure . Failure by a Finance Party to perform its obligations does not affect the obligations of any other Party under the Finance Documents;
2.3.3 (b) no Finance Party is responsible for the obligations of any other Finance Party under the Finance Documents;; and
2.3.4 (c) the rights of a Finance Party under the Finance Documents are separate and independent rights;
2.3.5 , and a debt arising under the Finance Documents to a Finance Party is a separate and independent debt; and
2.3.6 a Finance Party may, except as otherwise stated in the Finance Documents, separately enforce those rights.
Appears in 1 contract
Samples: Term and Revolving Facilities Agreement (Smith & Nephew PLC)
Nature of a Finance Party’s rights and obligations. Unless otherwise agreed by all the Finance Parties:
2.3.1 (a) the obligations of a Finance Party under the Finance Documents are several;
2.3.2 failure . Failure by a Finance Party to perform its obligations does not affect the obligations of any other Party under the Finance Documents;
2.3.3 no ; nNo Finance Party is responsible for the obligations of any other Finance Party under the Finance Documents;; and
2.3.4 (b) the rights of a Finance Party under the Finance Documents are separate and independent rights;
2.3.5 , and a debt arising under the Finance Documents to a Finance Party is a separate and independent debt; and
2.3.6 a Finance Party may, except as otherwise stated in the Finance Documents, separately enforce those rights.
Appears in 1 contract
Samples: Credit Facility Agreement (Oratec Interventions Inc)
Nature of a Finance Party’s rights and obligations. Unless otherwise agreed by all the Finance Parties:
2.3.1 2.2.1 the obligations of a Finance Party under the Finance Documents are several;
2.3.2 2.2.2 failure by a Finance Party to perform its obligations does not affect the obligations of any other Party under the Finance Documents;
2.3.3 2.2.3 no Finance Party is responsible for the obligations of any other Finance Party under the Finance Documents;
2.3.4 2.2.4 the rights of a Finance Party under the Finance Documents are separate and independent rights;
2.3.5 2.2.5 a debt arising under the Finance Documents to a Finance Party is a separate and independent debt; and
2.3.6 2.2.6 a Finance Party may, except as otherwise stated in the Finance Documents, separately enforce those rights.
Appears in 1 contract
Samples: Multicurrency Revolving Facility Agreement (PPL Energy Supply LLC)
Nature of a Finance Party’s rights and obligations. Unless otherwise agreed by all the Finance PartiesParties and the Company agree otherwise:
2.3.1 the (a) The obligations of a Finance Party under the Finance Documents are several;
2.3.2 (b) failure by a Finance Party to perform its obligations does not affect the obligations of any other Party under the Finance Documents;
2.3.3 (c) no Finance Party is responsible for the obligations of any other Finance Party under the Finance Documents;
2.3.4 (d) the rights of a Finance Party under or in connection with the Finance Documents are separate and independent rights;
2.3.5 a debt arising under the Finance Documents to a Finance Party is a separate and independent debt; and
2.3.6 (e) a Finance Party may, except as otherwise stated in the Finance Documents, separately enforce those rights; and
(f) any debt arising under the Finance Documents to a Finance Party is a separate and independent debt.
Appears in 1 contract
