Nature of Obligations of the Borrowers Sample Clauses

Nature of Obligations of the Borrowers. (a) The obligations of each of the Primary Borrowers, as borrowers hereunder, shall be joint and several in nature for all Loan Obligations and other obligations owing hereunder or under the other Credit Documents; provided that: (i) the obligations of any Primary Borrower as a joint and several obligor hereunder in respect of such obligations shall not in any event exceed an aggregate amount equal to the largest amount that would not render such obligations subject to avoidance under the Debtor Relief Laws or any comparable provisions of any applicable state law, (ii) none of the Primary Borrowers shall exercise any right of subrogation, indemnity, reimbursement or contribution against any other Borrower or Guarantor until such time as the Loan Obligations and the other obligations owing hereunder and under the other Credit Documents have been irrevocably paid in full and the commitments relating thereto have expired or been terminated, and (iii) each Primary Borrower expressly waives any requirement that the Administrative Agent or any Lender, or any of their officers, agents or representatives, exhaust any right, power or remedy or first proceed under any of the Credit Documents or against any other Borrower, Guarantor, other Person or collateral.
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Nature of Obligations of the Borrowers. The obligations of the Company and the Dutch Borrower hereunder shall be several (and not joint) in nature. In addition, the obligations of the Dutch Borrower shall be limited to the Dutch Obligations and any obligations of the Dutch Borrower to indemnify the Administrative Agent, the Lenders or any other Person shall be limited to matters arising out of or in connection with the Dutch Obligations, provided that the Dutch Borrower expressly waives any requirement that the Administrative Agent, the L/C Issuer or any Lender, or any of their Related Parties, exhaust any right, power or remedy or first proceed under any of the Loan Documents or against any other Loan Party, any other Person or any Collateral with respect to the Dutch Obligations.
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Nature of Obligations of the Borrowers. The obligations of the Company and the Dutch Borrower hereunder shall be several (and not joint) in nature. In addition, the obligations of the Dutch Borrower shall be limited to the Dutch Obligations and any obligations of the Dutch Borrower to indemnify the Administrative Agent, the Lenders or any other Person shall be limited to matters arising out of or in connection with the Dutch Obligations, provided that the Dutch Borrower expressly waives any requirement that the Administrative Agent, the L/C Issuer or any Lender, or any of their Related Parties, exhaust any right, power or remedy or first proceed under any of the Loan Documents or against any other Loan Party, any other Person or any Collateral with respect to the Dutch Obligations. Schedule 2.01 COMMITMENTS AND APPLICABLE PERCENTAGES Lender Revolving A Commitment ApplicablePercentage of Revolving A Commitment Revolving B Commitment Applicable Percentage of Revolving B Commitment Bank of America, N.A. $36,739,130.43 18.369565217% $28,260,869.57 28.260869565% The Private Bank and Trust Company $21,478,260.87 10.739130435% $16,521,739.13 16.521739130% Compass Bank $21,478,260.87 10.739130435% $16,521,739.13 16.521739130% Citizens Bank, N.A. (formerly known as RBS Citizens, N.A.) $21,478,260.87 10.739130435% $16,521,739.13 16.521739130% The Huntington National Bank $15,260,869.57 7.630434783% $11,739,130.43 11.739130435% Associated Bank, N.A. $13,565,217.39 6.782608696% $10,434,782.61 10.434782609% JPMorgan Chase Bank, N.A. $50,000,000.00 25.000000000% $0.00 0.000000000% FirstMerit Bank NA $20,000,000.00 10.000000000% $0.00 0.000000000% TOTAL $200,000,000.00 100.000000000% $100,000,000.00 100.000000000% Schedule 7.15
Sample 1
Nature of Obligations of the Borrowers. (a) The obligations of BioReliance hereunder shall be joint and several in nature for all Obligations owing hereunder or under the other Credit Documents (whether borrowed by BioReliance or by the Foreign Borrower), provided that (i) the obligations of BioReliance as a joint and several obligor hereunder in respect of the Foreign Obligations shall not in any event exceed an aggregate amount equal to the largest amount that would not render such obligations subject to avoidance under the Debtor Relief Laws or any comparable provisions of any applicable Law, (ii) BioReliance shall not exercise any right of subrogation, indemnity, reimbursement or contribution against any Credit Party until such time as the Obligations have been irrevocably paid in full and the commitments relating thereto have expired or been terminated, and (iii) BioReliance expressly waives any requirement that the Administrative Agent, the Security Trustee or any Lender, or any of their officers, agents or representatives, exhaust any right, power or remedy or first proceed under any of the Credit Documents or against any other Credit Party, any other Person or any Collateral with respect to the Obligations.
Sample 1

Related to Nature of Obligations of the Borrowers

  • Obligations of the Borrower 13 Section 3.01.

  • Nature of Obligations of Lenders Regarding Extensions of Credit The obligations of the Lenders under this Agreement to make the Loans and issue or participate in Letters of Credit are several and are not joint or joint and several. The failure of any Lender to make available its Commitment Percentage of any Loan requested by the Borrower shall not relieve it or any other Lender of its obligation, if any, hereunder to make its Commitment Percentage of such Loan available on the borrowing date, but no Lender shall be responsible for the failure of any other Lender to make its Commitment Percentage of such Loan available on the borrowing date.

  • Conditions of Obligations Your obligations hereunder shall be subject to the accuracy of the representations and warranties on the part of the Company contained in Section 1 hereof, the accuracy of the statements of the Company made pursuant to the provisions hereof, to the performance by the Company of its covenants, agreements and obligations contained in Sections 3 and 5 hereof, and to the following additional conditions:

  • Reimbursement Obligations of the Borrower The Borrower agrees to pay to the L/C Issuer of any Letter of Credit each L/C Reimbursement Obligation owing with respect to such Letter of Credit no later than the first Business Day after the Borrower receives notice from such L/C Issuer that payment has been made under such Letter of Credit or that such L/C Reimbursement Obligation is otherwise due (the “L/C Reimbursement Date”) with interest thereon computed as set forth in clause (i) below. In the event that any L/C Issuer incurs any L/C Reimbursement Obligation not repaid by the Borrower as provided in this clause (e) (or any such payment by the Borrower is rescinded or set aside for any reason), such L/C Issuer shall promptly notify the Administrative Agent of such failure (and, upon receipt of such notice, the Administrative Agent shall forward a copy to each Revolving Credit Lender) and, irrespective of whether such notice is given, such L/C Reimbursement Obligation shall be payable on demand by the Borrower with interest thereon computed (i) from the date on which such L/C Reimbursement Obligation arose to the L/C Reimbursement Date, at the interest rate applicable during such period to Revolving Loans that are Base Rate Loans and (ii) thereafter until payment in full, at the interest rate applicable during such period to past due Revolving Loans that are Base Rate Loans.

  • CONDITIONS OF OBLIGATIONS OF THE UNDERWRITERS The several obligations of the Underwriters to purchase the Firm Shares on the Closing Date and the Option Shares, if any, on the Option Closing Date are subject to the accuracy, as of the Closing Date or the Option Closing Date, as the case may be, of the representations and warranties of the Company contained herein, and to the performance by the Company of its covenants and obligations hereunder and to the following additional conditions:

  • CONDITIONS OF THE OBLIGATIONS OF THE COMPANY The obligations of the Company to sell and deliver the portion of the Shares required to be delivered as and when specified in this Agreement are subject to the conditions that at the Closing Date or the Option Closing Date, as the case may be, no stop order suspending the effectiveness of the Registration Statement shall have been issued and in effect or proceedings therefor initiated or threatened.

  • Performance of Obligations of the Company The Company shall have performed in all material respects all obligations required to be performed by it under this Agreement at or prior to the Closing Date, and Parent shall have received a certificate signed on behalf of the Company by the chief executive officer and the chief financial officer of the Company to such effect.

  • Representations of the Borrower The Borrower represents and warrants that:

  • Obligations of the Sponsor The Sponsor agrees to provide the Asset Representations Reviewer with the following: • Reasonable access to the Sponsor; • Complete AUPs; • Required Documents; and • Other related information reasonably requested by the Asset Representations Reviewer to perform the Services hereunder.

  • Conditions of the Obligations of the Purchasers The obligations of the several Purchasers to purchase and pay for the Purchased Notes will be subject to the accuracy of the representations and warranties on the part of the Company herein, to the accuracy of the statements of Company officers made pursuant to the provisions hereof, to the performance by the Company of its obligations hereunder and to the following additional conditions precedent:

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