Common use of Nature of Liability Clause in Contracts

Nature of Liability. The liability of each Guarantor hereunder is exclusive and independent of any security for or other guaranty of the Secured Obligations whether executed by any such Guarantor, any other guarantor or by any other party, and no Guarantor’s liability hereunder shall be affected or impaired by (i) any direction as to application of payment by Borrower or by any other party, or (ii) any other continuing or other guaranty, undertaking or maximum liability of a guarantor or of any other party as to the Secured Obligations, or (iii) any payment on or reduction of any such other guaranty or undertaking, or (iv) any dissolution, termination or increase, decrease or change in personnel by Borrower or other guarantor, or (v) any payment made to a Secured Party on the Secured Obligations which such Secured Party repays Borrower or another guarantor pursuant to court order in any bankruptcy, reorganization, arrangement, moratorium or other debtor relief proceeding, and each of Guarantors waives, to the fullest extent permitted by Applicable Law, any right to the deferral or modification of its obligations hereunder by reason of any such proceeding.

Nature of Liability. The liability of each Guarantor hereunder is exclusive and independent of any security for or other guaranty of the Secured Obligations whether executed by any such Guarantor, any other guarantor or by any other party, and no Guarantor’s liability hereunder shall be affected or impaired by (ia) any direction as to application of payment by a Borrower or by any other party, or (iib) any other continuing or other guaranty, undertaking or maximum liability of a guarantor or of any other party as to the Secured Obligations, or (iiic) any payment on or in reduction of any such other guaranty or undertaking, or (ivd) any dissolutiondissolution or termination of, termination or increase, decrease or change in personnel by Borrower or other guarantorby, a Loan Party, or (ve) any payment made to a Secured Party the Administrative Agent or the Lenders on the Secured Obligations which that the Administrative Agent or such Secured Lenders repay a Loan Party repays Borrower or another guarantor pursuant to court order in any bankruptcy, reorganization, arrangement, moratorium or other debtor relief proceeding, and each of the Guarantors waives, to the fullest extent permitted by Applicable Law, waives any right to the deferral or modification of its obligations hereunder by reason of any such proceeding.

Nature of Liability. The liability of each U.S. Guarantor hereunder is exclusive and independent of any security for or other guaranty of the Secured Obligations whether executed by any such Guarantor, any other guarantor or by any other party, and no U.S. Guarantor’s liability hereunder shall be affected or impaired by (ia) any direction as to application of payment by a Borrower or by any other party, or (iib) any other continuing or other guaranty, undertaking or maximum liability of a guarantor or of any other party as to the Secured Obligations, or (iiic) any payment on or in reduction of any such other guaranty or undertaking, or (ivd) any dissolutiondissolution or termination of, termination or increase, decrease or change in personnel by Borrower or other guarantorby, a Loan Party, or (ve) any payment made to a Secured Party Agent or the Lenders on the Secured Obligations which that Agent or such Secured Lenders repay a Loan Party repays Borrower or another guarantor pursuant to court order in any bankruptcy, reorganization, arrangement, moratorium or other debtor relief proceeding, and each of the U.S. Guarantors waives, to the fullest extent permitted by Applicable Law, waives any right to the deferral or modification of its obligations hereunder by reason of any such proceeding.

Nature of Liability. The liability of each Guarantor hereunder is exclusive and independent of any security for or other guaranty of the Secured Obligations whether executed by any such Guarantor, any other guarantor or by any other party, and no Guarantor’s liability hereunder shall be affected or impaired by (ia) any direction as to application of payment by the Borrower or by any other party, or (iib) any other continuing or other guaranty, undertaking or maximum liability of a guarantor or of any other party as to the Secured Obligations, or (iiic) any payment on or in reduction of any such other guaranty or undertaking, or (ivd) any dissolutiondissolution or termination of, termination or increase, decrease or change in personnel by Borrower or other guarantorby, a Loan Party, or (ve) any payment made to a Secured Party the Administrative Agent or the Lenders on the Secured Obligations which that the Administrative Agent or such Secured Lenders repay a Loan Party repays Borrower or another guarantor pursuant to court order in any bankruptcy, reorganization, arrangement, moratorium or other debtor relief proceeding, and each of the Guarantors waives, to the fullest extent permitted by Applicable Law, waives any right to the deferral or modification of its obligations hereunder by reason of any such proceeding.

Nature of Liability. The liability of each the Guarantor hereunder is exclusive and independent of any security for or other guaranty of the Secured Obligations obligations of the Sellers whether executed by any such Guarantor, any other guarantor the Guarantor or by any other party, and no Guarantor’s the liability of Guarantor hereunder shall not be affected or impaired by (ia) any direction as to application of payment by Borrower any Seller or by any other party, or (iib) any other continuing or other guaranty, undertaking or maximum liability of a guarantor or of any other party as to the Secured Obligationsobligations of any Seller, or (iiic) any payment on or in reduction of any such other guaranty or undertaking, or (ivd) any dissolution, dissolution or termination or increase, decrease or change in personnel by Borrower or other guarantorof any Seller, or (ve) any payment made to a Secured Party any or all Buyers on the Secured Obligations obligations which such Secured Party repays Borrower Buyer or another guarantor Buyers are required to repay to any Seller, whether pursuant to a court order order, in any bankruptcy, reorganization, arrangement, moratorium or other debtor relief proceeding, proceeding and each of Guarantors waives, to the fullest extent permitted by Applicable Law, Guarantor waives any right to the deferral or modification of its obligations hereunder by reason of any such proceeding.

Nature of Liability. The liability of each Guarantor hereunder is exclusive and independent of any security for or other guaranty of the Secured Obligations whether executed by any such Guarantor, any other guarantor or by any other party, and no Guarantor’s liability hereunder shall be affected or impaired by (ia) any direction as to application of payment by Borrower the Issuer or by any other party, or (iib) any other continuing or other guaranty, undertaking or maximum liability of a guarantor or of any other party as to the Secured Obligations, or (iiic) any payment on or in reduction of any such other guaranty or undertakingundertaking of any other party, or (ivd) any dissolution, termination or increase, decrease or change in personnel by Borrower or other guarantorthe Issuer, or (ve) any payment made to a Secured Party any Noteholder on the Secured Obligations which such Secured Party Noteholder repays Borrower or another guarantor to the Issuer pursuant to court order in any bankruptcy, reorganization, arrangement, moratorium or other debtor relief proceeding, and each of the Guarantors waives, to the fullest extent permitted by Applicable Law, waives any right to the deferral or modification of its obligations hereunder by reason of any such proceeding.

Nature of Liability. The liability of each Guarantor Holding hereunder is exclusive and independent of any security for or other guaranty of the Secured Obligations indebtedness of the Borrower whether executed by any such Guarantor, any other guarantor Holding or by any other party, and no Guarantor’s the liability of Holding hereunder shall not be affected or impaired by (ia) any direction as to application of payment by the Borrower or by any other party, or (iib) any other continuing or other guaranty, undertaking or maximum liability of a guarantor or of any other party as to the Secured Obligationsindebtedness of the Borrower, or (iiic) any payment on or in reduction of any such other guaranty or undertaking, or (ivd) any dissolution, dissolution or termination or increase, decrease or change in personnel by Borrower or other guarantorof the Borrower, or (ve) any payment made to a Secured Party the Agent or to any or all Banks on the Secured Obligations indebtedness which such Secured Party repays Agent, Bank or Banks are required to repay to the Borrower or another guarantor pursuant to a court order in any bankruptcy, reorganization, arrangement, moratorium or other debtor relief proceeding, and each of Guarantors waives, to the fullest extent permitted by Applicable Law, Holding waives any right to the deferral or modification of its obligations hereunder by reason of any such proceeding.

Nature of Liability. The liability of each Guarantor Credit Party hereunder is exclusive and independent of any security for or other guaranty of the Secured Guaranteed Obligations whether executed by any such GuarantorCredit Party, any other guarantor or by any other party, and no Guarantor’s the liability of each Credit Party hereunder shall be is not affected or impaired by (ia) any direction as to application of payment by any Borrower or by any other party, or (iib) any other continuing or other guaranty, undertaking or maximum liability of a guarantor or of any other party as to the Secured Guaranteed Obligations, or (iiic) any payment on or in reduction of any such other guaranty or undertaking, or (ivd) any dissolution, termination or increase, decrease or change in personnel by Borrower or other guarantorany Borrower, or (ve) any payment made to a the Secured Party Creditors on the Secured Guaranteed Obligations which any such Secured Party Creditor repays to any Borrower or another guarantor pursuant to court order in any bankruptcy, reorganization, arrangement, moratorium or other debtor relief proceeding, and each of Guarantors waives, to the fullest extent permitted by Applicable Law, Credit Party waives any right to the deferral or modification of its obligations hereunder by reason of any such proceeding, or (f) any action or inaction of the type described in Section 14.5, or (g) the lack of validity or enforceability of any Credit Document or any other instrument relating thereto.

Nature of Liability. The liability of each Guarantor hereunder is exclusive and independent of any security for or other guaranty of the Secured Obligations whether executed by any such Guarantor, any other guarantor or by any other party, indebtedness of the Borrower and no each Guarantor’s liability hereunder shall not be affected or impaired by (ia) any direction as to application of payment by the Borrower or by any other party, or (iib) any other continuing or other guaranty, undertaking or maximum liability of a guarantor or of any other party as to the Secured Obligationsindebtedness of the Borrower, or (iiic) any payment on or in reduction of any such other guaranty or undertaking, or (ivd) any dissolution, termination or increase, decrease or change in personnel by Borrower or other guarantorthe Borrower, or (ve) any payment made to a Secured Party the Bank on the Secured Obligations indebtedness which such Secured Party Bank repays to the Borrower or another guarantor pursuant to court order in any bankruptcy, reorganization, arrangement, moratorium or other debtor relief proceeding, and each of Guarantors waives, to the fullest extent permitted by Applicable Law, Guarantor waives any right to the deferral deferral, or modification of its obligations hereunder by reason of any such proceeding.

Nature of Liability. The liability of each Guarantor hereunder is exclusive and independent of any security for or other guaranty of the Secured Obligations whether executed by any such Guarantor, any other guarantor or by any other party, and no Guarantor’s liability hereunder shall be affected or impaired by (ia) any direction as to application of payment by the Borrower or by any other party, or (iib) any other continuing or other guaranty, undertaking or maximum liability of a guarantor or of any other party as to the Secured Obligations, or (iiic) any payment on or in reduction of any such other guaranty or undertakingundertaking of any other party, or (ivd) any dissolution, termination or increase, decrease or change in personnel by Borrower or other guarantorthe Borrower, or (ve) any payment made to a Secured Party any Investor on the Secured Obligations which such Secured Party Investor repays to the Borrower or another guarantor pursuant to court order in any bankruptcy, reorganization, arrangement, moratorium or other debtor relief proceeding, and each of the Guarantors waives, to the fullest extent permitted by Applicable Law, waives any right to the deferral or modification of its obligations hereunder by reason of any such proceeding.