Common use of Nature of Obligations of the Borrowers Clause in Contracts

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.

Nature of Obligations of the Borrowers. (a) The obligations of each of the Primary Borrowers, as borrowers hereunder, Domestic Borrower hereunder shall be joint and several in nature for all Loan Obligations and other obligations owing hereunder or under the other Credit Documents; Documents (whether borrowed by the Domestic Borrower or by the Foreign Borrowers), provided that: that (i) the obligations of any Primary the Domestic Borrower as a joint and several obligor hereunder in respect of such obligations 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 state lawLaw, (ii) none of the Primary Borrowers shall Domestic Borrower agrees not to exercise any right of subrogation, indemnity, reimbursement or contribution against any other Borrower or Guarantor Credit Party 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 the Domestic Borrower expressly waives any requirement that the Administrative Agent or any Lenderholder of the Obligations, 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 BorrowerCredit Party, Guarantor, any other Person or collateralany Collateral with respect to the Obligations.

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 117 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.