Nature of Rights and Obligations. (a) The obligations of a Finance Party and each Obligor under the Finance Documents are several. Failure of a Finance Party or an Obligor to carry out those obligations does not relieve any other Party of its obligations under the Finance Documents. No Finance Party or Obligor is responsible for the obligations of any other Finance Party or Obligor under the Finance Documents save and to the extent that the relevant obligations are guaranteed by another Obligor.
(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.
Nature of Rights and Obligations. Except as expressly provided in this Agreement, the Member, as a Member, shall not participate in the management or control of the Company’s business nor shall it transact any Business for the Company. The Member shall indemnify the Company from and against any cost or expense incurred by the Company as a result of any unauthorized action by the Member.
Nature of Rights and Obligations. Except as otherwise expressly provided herein, nothing contained in this Operating Agreement shall be deemed to constitute a Member an agent or legal representative of the other Members. A Member shall not have any authority to act for, or to assume any obligation or responsibility on behalf of, any other Member or the Company.
Nature of Rights and Obligations. (A) No Release: The obligations of the Shareholders under this Agreement (excluding, for the avoidance of doubt, any obligation of the Shareholders under this Agreement which has been discharged) shall not be discharged, impaired or otherwise affected by any act, omission, matter or thing which, but for this sub-Clause (A), may operate to release or otherwise exonerate any of the Shareholders from its obligations under this Agreement in whole or in part, including without limitation and whether or not known to it or any other person:-
(1) any variation in or to the Project;
(2) any time, indulgence, concession waiver or consent at any time given by the Security Trustee and/or any of the Secured Parties in respect of the Senior Indebtedness or any part thereof or to the Borrower, any Shareholder or any other person;
(3) any amendment or supplement to any provision of any Financing Document or any other agreement, security, guarantee or indemnity;
(4) the making or the absence of any demand on the Borrower, any Shareholder or any other person for payment;
(5) the enforcement or absence of enforcement of or release of any of the Financing Documents or any other agreement, security, guarantee or indemnity held in respect of the Senior Indebtedness;
(6) the winding-up, insolvency or bankruptcy of the Borrower, any Shareholder or any other person;
(7) the illegality, invalidity or unenforceability of or any defect in any provision of any Financing Document or any other agreement, security, guarantee or 126 123 indemnity or any of the obligations of the Borrower, any Shareholder or any other person thereunder, whether on the grounds of ultra virex, not being in the interests of the Borrower or any other person, not having been duly authorised, executed or delivered by the Borrower or any other person or for any reason whatsoever; or
(8) any other act, event or omission which but for this provision would or might operate to impair or discharge the obligations of any Shareholder under this Agreement.
Nature of Rights and Obligations. Obligations Several
31.1 The obligations of the Banks are several. No party to this Agreement shall be responsible for the obligations of any other party. The failure of a Bank to perform its obligations shall not release any other party from its obligations.
Nature of Rights and Obligations. (a) Except as specifically provided otherwise in this Agreement, the rights and obligations of the Parties hereunder shall be several and not joint. Each Party may exercise and enforce its rights hereunder individually in accordance with this Agreement, and the non-performance by a Party shall not relieve a Party from performing its obligations under this Agreement, nor shall the other Party be liable for the non-performance by the defaulting Party.
(b) With the exception of Art. 6.6; Art. 7.6
Nature of Rights and Obligations. 8 6. Availability .......................................................... 9 7.
Nature of Rights and Obligations. (A) No Release: The obligations of the Shareholders under this Agreement (excluding, for the avoidance of doubt, any obligation of the Shareholders under this Agreement which has been discharged) shall not be discharged, impaired or otherwise affected by any act, omission, matter or thing which, but for this sub-Clause (A), may operate to release or otherwise exonerate any of the Shareholders from its obligations under this Agreement in whole or in part, including without limitation and whether or not known to it or any other person:-
(1) any variation in or to the Project;
(2) any time, indulgence, concession waiver or consent at any time given by the Agent and/or any of the Banks in respect of
Nature of Rights and Obligations. 5.1 OBLIGATIONS OF BANKS SEVERAL The obligations of each Bank hereunder are several.
Nature of Rights and Obligations. 5.1 OBLIGATIONS OF BANKS SEVERAL The obligations of each Bank hereunder are several.
5.2 FAILURE OF ANY BANK TO PERFORM OBLIGATIONS The failure by a Bank to perform its obligations hereunder shall not affect the obligations of the Borrowers towards any other party hereto nor shall any other party be liable for the failure by such Bank to perform its obligations hereunder.
