Common use of No Reduction in Obligations Clause in Contracts

No Reduction in Obligations. No payment or payments made by any of the Borrowers or any other Person or received or collected by the Agent, the Letter of Credit Issuer or any Lender from any of the Borrowers or any Person by virtue of any action or proceeding or any setoff or appropriation or application at any time or from time to time in reduction of or in payment of the Obligations shall be deemed to modify, reduce, release or otherwise affect the liability of each Borrower under this Agreement, which shall remain liable for all remaining and thereafter arising Obligations until the Obligations are paid in full and the Commitments are terminated.

Appears in 5 contracts

Samples: Credit and Security Agreement (PSS World Medical Inc), Credit Agreement (PSS World Medical Inc), Credit Agreement (Caraustar Industries Inc)

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No Reduction in Obligations. No payment or payments made by any of the Borrowers or any other Person or received or collected by the Agent, the Letter of Credit Issuer Issuers or any Lender from any of the Borrowers or any Person by virtue of any action or proceeding or any setoff or appropriation or application at any time or from time to time in reduction of or in payment of the Obligations shall be deemed to modify, reduce, release or otherwise affect the liability of each Borrower under this AgreementAgreement for the remaining Obligations, which shall remain liable for all remaining and thereafter arising Obligations until the Obligations are paid in full and the Commitments are terminated.

Appears in 3 contracts

Samples: Credit Agreement (United Rentals Inc /De), Credit Agreement (United Rentals Inc /De), Credit Agreement (United Rentals North America Inc)

No Reduction in Obligations. No payment or payments made by any of the Borrowers or any other Person or received or collected by the Agent, the Letter of Credit Issuer Administrative Agent or any Lender from any of the Borrowers or any Person by virtue of any action or proceeding or any setoff or appropriation or application at any time or from time to time in reduction of or in payment of the Obligations shall be deemed to modify, reduce, release or otherwise affect the liability of each Borrower under this AgreementAgreement for the remaining Obligations, which shall remain liable for all remaining and thereafter arising Obligations until the Obligations are paid payment in full in cash of the Obligations and the Commitments are terminated.

Appears in 3 contracts

Samples: Credit Agreement (Hydrofarm Holdings Group, Inc.), Credit Agreement (Hydrofarm Holdings Group, Inc.), Credit Agreement (Hydrofarm Holdings Group, Inc.)

No Reduction in Obligations. No payment or payments made by any of the Borrowers or any other Person or received or collected by the Agent, the Letter of Credit Issuer Administrative Agent or any Lender from any of the Borrowers or any Person by virtue of any action or proceeding or any setoff or appropriation or application at any time or from time to time in reduction of or in payment of the Obligations shall shall, except to the extent of such payment, be deemed to modify, reduce, release or otherwise affect the liability of each Borrower under this Agreement, which shall remain liable for all remaining and thereafter arising the Obligations until the Obligations are paid in full and the Commitments are terminated.

Appears in 2 contracts

Samples: Credit Agreement (Kforce Inc), Credit Agreement (Kforce Inc)

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No Reduction in Obligations. No payment or payments made by any of the Borrowers or any other Person or received or collected by the Administrative Agent, the Letter of Credit Issuer Issuing Bank or any Lender from any of the Borrowers or any Person by virtue of any action or proceeding or any setoff or appropriation or application at any time or from time to time in reduction of or in payment of the Obligations shall be deemed to modify, reduce, release or otherwise affect the liability of each Borrower under this AgreementAgreement except to the extent of any such payment, which shall remain liable for all remaining and thereafter arising the Obligations until the Obligations are paid in full and the Commitments are Commitment is terminated.

Appears in 1 contract

Samples: Credit Agreement (Gci Inc)

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