Common use of Obligations Joint and Several and Unconditional Clause in Contracts

Obligations Joint and Several and Unconditional. The obligations of each Borrower under this Agreement and the Notes are joint and several and absolute and unconditional irrespective of the value, genuineness, validity, regularity or enforceability of the obligations of the other Borrower under this Agreement, the Notes or any other Loan Document (collectively, the “Other Borrower Obligations”), or any substitution, release or exchange of any other guarantee of or security for any of the Other Borrower Obligations, and, to the fullest extent permitted by applicable Law, irrespective of any other circumstance whatsoever which might otherwise constitute a legal or equitable discharge or defense of a surety or guarantor, it being the intent of this Article IX that the obligations of each Borrower hereunder shall be absolute and unconditional under any and all circumstances. Without limiting the generality of the foregoing, it is agreed that the occurrence of any one or more of the following shall not affect the liability of either Borrower under this Agreement, the Notes or any other agreement referred to herein or therein: (a) at any time or from time to time, without notice to either Borrower, the time for any performance of or compliance with any of the Other Borrower Obligations shall be extended, or such performance or compliance shall be waived; (b) any of the acts mentioned in any of the provisions of this Agreement or the Notes or any other agreement or instrument referred to herein or therein shall be done or omitted; (c) the maturity of any of the Other Borrower Obligations shall be accelerated, or any of the Other Borrower Obligations shall be modified, supplemented or amended in any respect, or any right under this Agreement or the Notes or any other Loan Document shall be waived or any other guarantee of any of the Other Borrower Obligations or any security therefor shall be released or exchanged in whole or in part or otherwise dealt with; or (d) any lien or security interest granted to, or in favor of, the Administrative Agent or any other Secured Party as security for any of the Other Borrower Obligations shall fail to be perfected. Each Borrower hereby expressly waives, with respect to the Other Borrower Obligations diligence, presentment, demand of payment, protest and all notices whatsoever, and any requirement that the Administrative Agent, any L/C Issuer, the Swing Line Lender or any Lender exhaust any right, power or remedy or proceed against the other Borrower under this Agreement or the Notes or any other Loan Document, or against any other Person under any other guarantee of, or security for, any of the Other Borrower Obligations.

Appears in 6 contracts

Samples: Amendment No. 5 to Amended and Restated Credit Agreement (USD Partners LP), Credit Agreement (USD Partners LP), Master Assignment, Assignment of Liens, and Amendment No. 1 to Amended and Restated Credit Agreement (USD Partners LP)

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Obligations Joint and Several and Unconditional. The obligations of each Borrower under this Agreement and the Notes each other Loan Document are joint and several and absolute and unconditional irrespective of the value, genuineness, validity, regularity or enforceability of the obligations of the any other Borrower under this Agreement, the Notes Agreement or any other Loan Document (collectively, the “Other Borrower Obligations”), or any substitution, release or exchange of any other guarantee of or security for any of the Other Borrower Obligations, and, to the fullest extent permitted by applicable Requirement of Law, irrespective of any other circumstance whatsoever which might otherwise constitute a legal or equitable discharge or defense of a surety or guarantorguarantor (other than a defense of payment or performance hereunder or thereunder), it being the intent of this Article IX Section 11.23 and this Agreement that the obligations of each Borrower hereunder under this Agreement shall be absolute and unconditional under any and all circumstancescircumstances (other than to the extent already paid or performed hereunder or thereunder). Without limiting the generality of the foregoing, it is agreed that the occurrence of any one or more of the following shall not affect the liability of either any Borrower under this Agreement, the Notes Agreement or any other agreement referred to herein or thereinherein: (a) at any time or from time to time, without notice to either any Borrower, the time for any performance of or compliance with any of the Other Borrower Obligations shall be extended, or such performance or compliance shall be waived; (b) any of the acts mentioned in any of the provisions of this Agreement or the Notes or any other agreement or instrument referred to herein or therein shall be done or omitted; (c) the maturity of any of the Other Borrower Obligations shall be accelerated, or any of the Other Borrower Obligations shall be modified, supplemented or amended in any respect, or any right under this Agreement or the Notes or any other Loan Document shall be waived or any other guarantee of any of the Other Borrower Obligations or any security therefor shall be released or exchanged in whole or in part or otherwise dealt with; or (d) any lien or security interest granted to, or in favor of, the any Administrative Agent Agent, any Issuer or any other Secured Party Lender or Lenders as security for any of the Other Borrower Obligations shall fail to be perfected. Each Borrower hereby expressly waives, with respect to the Other Borrower Obligations diligence, presentment, demand of payment, protest and all notices whatsoever, and any requirement that the Administrative Agent, any L/C Issuer, the Swing Line Lender or any Lender exhaust any right, power or remedy or proceed against the other Borrower under this Agreement or the Notes or any other Loan Document, or against any other Person under any other guarantee of, or security for, any of the Other Borrower Obligations.

Appears in 5 contracts

Samples: Superpriority Senior Secured Debtor in Possession Credit Agreement (McDermott International Inc), Credit Agreement (McDermott International Inc), Superpriority Senior Secured Credit Agreement (McDermott International Inc)

Obligations Joint and Several and Unconditional. The obligations of each Borrower under this Agreement and the Notes are joint and several and absolute and unconditional irrespective of the value, genuineness, validity, regularity or enforceability of the obligations of the other Borrower under this Agreement, the Notes or any other Loan Document (collectively, the “Other Borrower Obligations”), or any substitution, release or exchange of any other guarantee of or security for any of the Other Borrower Obligations, and, to the fullest extent permitted by applicable Lawlaw, irrespective of any other circumstance whatsoever which might otherwise constitute a legal or equitable discharge or defense of a surety or guarantor, it being the intent of this Article IX VIII that the obligations of each Borrower hereunder shall be absolute and unconditional under any and all circumstances. Without limiting the generality of the foregoing, it is agreed that the occurrence of any one or more of the following shall not affect the liability of either any Borrower under this Agreement, the Notes or any other agreement referred to herein or therein: (a) at any time or from time to time, without notice to either any Borrower, the time for any performance of or compliance with any of the Other Borrower Obligations shall be extended, or such performance or compliance shall be waived; (b) any of the acts mentioned in any of the provisions of this Agreement or the Notes or any other agreement or instrument referred to herein or therein shall be done or omitted; (c) the maturity of any of the Other Borrower Obligations shall be accelerated, or any of the Other Borrower Obligations shall be modified, supplemented or amended in any respect, or any right under this Agreement or the Notes or any other Loan Document shall be waived or any other guarantee of any of the Other Borrower Obligations or any security therefor shall be released or exchanged in whole or in part or otherwise dealt with; or (d) any lien or security interest granted to, or in favor of, the Administrative Agent Agent, the Issuing Lender or any other Secured Party Lender or Lenders as security for any of the Other Borrower Obligations shall fail to be perfected. Each Borrower hereby expressly waives, with respect to the Other Borrower Obligations diligence, presentment, demand of payment, protest and all notices whatsoever, and any requirement that the Administrative Agent, any L/C Issuer, the Swing Line Issuing Lender or any Lender exhaust any right, power or remedy or proceed against the other Borrower under this Agreement or the Notes or any other Loan Document, or against any other Person under any other guarantee of, or security for, any of the Other Borrower Obligations.

Appears in 3 contracts

Samples: Credit Agreement (Mariner Energy Inc), Credit Agreement (Mariner Energy Resources, Inc.), Credit Agreement (Contango Oil & Gas Co)

Obligations Joint and Several and Unconditional. The obligations of each Borrower under this Agreement and Agreement, the Notes and each other Credit Document are joint and several and absolute and unconditional irrespective of the value, genuineness, validity, regularity or enforceability of the obligations of the other Borrower Borrowers under this Agreement, the Notes or any other Loan Credit Document (collectively, the “Other Borrower Obligations”), or any substitution, release or exchange of any other guarantee of or security for any of the Other Borrower Obligations, and, to the fullest extent permitted by applicable Lawlaw, irrespective of any other circumstance whatsoever which might otherwise constitute a legal or equitable discharge or defense of a surety or guarantor, it being the intent of this Article IX 9 that the obligations of each Borrower hereunder under this Agreement shall be absolute and unconditional under any and all circumstances. Without limiting the generality of the foregoing, it is agreed that the occurrence of any one or more of the following shall not affect the liability of either any Borrower under this Agreement, the Notes or any other agreement referred to herein or therein: (a) at any time or from time to time, without notice to either any Borrower, the time for any performance of or compliance with any of the Other Borrower Obligations shall be extended, or such performance or compliance shall be waived; (b) any of the acts actions mentioned in any of the provisions of this Agreement or the Notes or any other agreement or instrument referred to herein or therein shall be done taken or omitted; (c) the maturity of any of the Other Borrower Obligations shall be accelerated, or any of the Other Borrower Obligations shall be modified, supplemented or amended in any respect, or any right under this Agreement or the Notes or any other Loan Credit Document shall be waived or any other guarantee of any of the Other Borrower Obligations or any security therefor shall be released or exchanged in whole or in part or otherwise dealt with; or (d) any lien or security interest granted to, or in favor of, the Administrative Agent Agent, any Issuing Lender or any other Secured Party Lender or Lenders as security for any of the Other Borrower Obligations shall fail to be perfected. Each Borrower hereby expressly waives, with respect to the Other Borrower Obligations Obligations, diligence, presentment, demand of payment, protest and all notices whatsoever, and any requirement that the Administrative Agent, any L/C Issuer, the Swing Line Issuing Lender or any Lender exhaust any right, power or remedy or proceed against the other Borrower Borrowers under this Agreement or the Notes or any other Loan Credit Document, or against any other Person under any other guarantee of, or security for, any of the Other Borrower Obligations.

Appears in 2 contracts

Samples: Credit Agreement (Rowan Companies PLC), Credit Agreement (Rowan Companies PLC)

Obligations Joint and Several and Unconditional. The obligations of each Borrower of the Borrowers under this Agreement and the Notes are joint and several and absolute and unconditional irrespective of the value, genuineness, validity, regularity or enforceability of the obligations of the other Borrower Borrowers under this Agreement, the Notes or any other Loan Document agreement or instrument referred to herein or therein (collectively, the "Other Borrower Obligations"), or any substitution, release or exchange of any other guarantee of or security for any of the Other Borrower Obligations, and, to the fullest extent permitted by applicable Lawlaw, irrespective of any other circumstance whatsoever which might otherwise constitute a legal or equitable discharge or defense of a surety or guarantor, it being the intent of this Article IX Section 5.23 that the obligations of each Borrower of the Borrowers hereunder shall be absolute and unconditional under any and all circumstances. Without limiting the generality of the foregoing, it is agreed that the occurrence of any one or more of the following shall not affect the liability of either any Borrower under this Agreement, the Notes or any other agreement referred to herein or therein: (ai) at any time or from time to time, without notice to either any Borrower, the time for any performance of or compliance with any of the Other Borrower Obligations shall be extended, or such performance or compliance shall be waived; (bii) any of the acts mentioned in any of the provisions of this Agreement or the Notes or any other agreement or instrument referred to herein or therein shall be done or omitted; (ciii) the maturity of any of the Other Borrower Obligations shall be accelerated, or any of the Other Borrower Obligations shall be modified, supplemented or amended in any respect, or any right under this Agreement or the Notes or any other Loan Document agreement or instrument referred to herein or therein shall be waived or any other guarantee of any of the Other Borrower Obligations or any security therefor shall be released or exchanged in whole or in part or otherwise dealt with; or (div) any lien or security interest granted to, or in favor of, the Administrative Agent or any other Secured Party Lender or Lenders as security for any of the Other Borrower Obligations shall fail to be perfected. Each Borrower of the Borrowers hereby expressly waives, with respect to the Other Borrower Obligations diligence, presentment, demand of payment, protest and all notices whatsoever, and any requirement that the Administrative Agent, any L/C Issuer, the Swing Line Lender Agent or any Lender exhaust any right, power or remedy or proceed against the other Borrower Borrowers under this Agreement or the Notes or any other Loan Documentagreement or instrument referred to herein or therein, or against any other Person under any other guarantee of, or security for, any of the Other Borrower Obligations.

Appears in 1 contract

Samples: Credit Agreement (Edge Petroleum Corp)

Obligations Joint and Several and Unconditional. The obligations of each Borrower under this Agreement and the Notes are joint and several and absolute and unconditional irrespective of the value, genuineness, validity, regularity or enforceability of the obligations of the any other Borrower under this Agreement, the Notes or any other Loan Document (collectively, the “Other Borrower Obligations”), or any substitution, release or exchange of any other guarantee of or security for any of the Other Borrower Obligations, and, to the fullest extent permitted by applicable Lawlaw, irrespective of any other circumstance whatsoever which might otherwise constitute a legal or equitable discharge or defense of a surety or guarantor, it being the intent of this Article IX VIII that the obligations of each Borrower hereunder shall be absolute and unconditional under any and all circumstances. Without limiting the generality of the foregoing, it is agreed that the occurrence of any one or more of the following shall not affect the liability of either any Borrower under this Agreement, the Notes or any other agreement referred to herein or therein: (a) at any time or from time to time, without notice to either any Borrower, the time for any performance of or compliance with any of the Other Borrower Obligations shall be extended, or such performance or compliance shall be waived; (b) any of the acts mentioned in any of the provisions of this Agreement or the Notes or any other agreement or instrument referred to herein or therein shall be done or omitted; (c) the maturity of any of the Other Borrower Obligations shall be accelerated, or any of the Other Borrower Obligations shall be modified, supplemented or amended in any respect, or any right under this Agreement or the Notes or any other Loan Document shall be waived or any other guarantee of any of the Other Borrower Obligations or any security therefor shall be released or exchanged in whole or in part or otherwise dealt with; or (d) any lien or security interest granted to, or in favor of, the Administrative Agent Agent, the Issuing Lender or any other Secured Party Lender or Lenders as security for any of the Other Borrower Obligations shall fail to be perfected. Each Borrower hereby expressly waives, with respect to the Other Borrower Obligations diligence, presentment, demand of payment, protest and all notices whatsoever, and any requirement that the Administrative Agent, any L/C Issuer, the Swing Line Issuing Lender or any Lender exhaust any right, power or remedy or proceed against the other Borrower under this Agreement or the Notes or any other Loan Document, or against any other Person under any other guarantee of, or security for, any of the Other Borrower Obligations.

Appears in 1 contract

Samples: Credit Agreement (Contango Oil & Gas Co)

Obligations Joint and Several and Unconditional. The obligations of each Borrower under this Agreement and the Notes are joint and several and absolute and unconditional irrespective of the value, genuineness, validity, regularity or enforceability of the obligations of the other Borrower Borrowers under this Agreement, the Notes or any other Loan Document (collectively, the “Other Borrower Obligations”), or any substitution, release or exchange of any other guarantee of or security for any of the Other Borrower Obligations, and, to the fullest extent permitted by applicable Applicable Law, irrespective of any other circumstance whatsoever which might otherwise constitute a legal or equitable discharge or defense of a surety or guarantor, it being the intent of this Article IX 8 that the obligations of each Borrower hereunder under this Agreement shall be absolute and unconditional under any and all circumstances. Without limiting the generality of the foregoing, it is agreed that the occurrence of any one or more of the following shall not affect the liability of either any Borrower under this Agreement, the Notes or any other agreement referred to herein or therein: (a) at any time or from time to time, without notice to either any Borrower, the time for any performance of or compliance with any of the Other Borrower Obligations shall be extended, or such performance or compliance shall be waived; (b) any of the acts mentioned in any of the provisions of this Agreement or the Notes or any other agreement or instrument referred to herein or therein shall be done or omitted; (c) the maturity of any of the Other Borrower Obligations shall be accelerated, or any of the Other Borrower Obligations shall be modified, supplemented or amended in any respect, or any right under this Agreement or the Notes or any other Loan Document shall be waived or any other guarantee of any of the Other Borrower Obligations or any security therefor shall be released or exchanged in whole or in part or otherwise dealt with; or (d) any lien or security interest Lien granted to, or in favor of, the Administrative Agent Agent, the Issuer or any other Secured Party Lender, Swing Line Lender or Lenders as security for any of the Other Borrower Obligations shall fail to be perfected. Each Borrower hereby expressly waives, with respect to the Other Borrower Obligations diligence, presentment, demand of payment, protest and all notices whatsoever, and any requirement that the Administrative Agent, any L/C the Issuer, the Swing Line Lender or any Lender exhaust any right, power or remedy or proceed against the other Borrower Borrowers under this Agreement or the Notes or any other Loan Document, or against any other Person under any other guarantee of, or security for, any of the Other Borrower Obligations.

Appears in 1 contract

Samples: First Lien Credit Agreement (Milagro Oil & Gas, Inc.)

Obligations Joint and Several and Unconditional. The obligations of each Borrower under this Agreement and the Notes are joint and several and absolute and unconditional irrespective of the value, genuineness, validity, regularity or enforceability of the obligations of the other Borrower under this Agreement, the Notes or any other Loan Document (collectively, the “Other Borrower Obligations”), or any substitution, release or exchange of any other guarantee of or security for any of the Other Borrower Obligations, and, to the fullest extent permitted by applicable Lawlaw, irrespective of any other circumstance whatsoever which might otherwise constitute a legal or equitable discharge or defense of a surety or guarantor, it being the intent of this Article IX that the obligations of each Borrower hereunder shall be absolute and unconditional under any and all circumstances. Without limiting the generality of the foregoing, it is agreed that the occurrence of any one or more of the following shall not affect the liability of either Borrower under this Agreement, the Notes or any other agreement referred to herein or therein: (a) at any time or from time to time, without notice to either Borrower, the time for any performance of or compliance with any of the Other Borrower Obligations shall be extended, or such performance or compliance shall be waived; (b) any of the acts mentioned in any of the provisions of this Agreement or the Notes or any other agreement or instrument referred to herein or therein shall be done or omitted; (c) the maturity of any of the Other Borrower Obligations shall be accelerated, or any of the Other Borrower Obligations shall be modified, supplemented or amended in any respect, or any right under this Agreement or the Notes or any other Loan Document shall be waived or any other guarantee of any of the Other Borrower Obligations or any security therefor shall be released or exchanged in whole or in part or otherwise dealt with; or (d) any lien or security interest granted to, or in favor of, the Administrative Agent or any other Secured Party as security for any of the Other Borrower Obligations shall fail to be perfected. Each Borrower hereby expressly waives, with respect to the Other Borrower Obligations diligence, presentment, demand of payment, protest and all notices whatsoever, and any requirement that the Administrative Agent, any L/C Issuer, the Swing Line Lender or any Lender exhaust any right, power or remedy or proceed against the other Borrower under this Agreement or the Notes or any other Loan Document, or against any other Person under any other guarantee of, or security for, any of the Other Borrower Obligations.

Appears in 1 contract

Samples: Credit Agreement (USD Partners LP)

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Obligations Joint and Several and Unconditional. The obligations of each Borrower Applicant under this Agreement and the Notes each other Credit Document are joint and several and absolute and unconditional irrespective of the value, genuineness, validity, regularity or enforceability of the obligations of the any other Borrower Applicant under this Agreement, the Notes Agreement or any other Loan Credit Document (collectively, the “Other Borrower Applicant Obligations”), or any substitution, release or exchange of any other guarantee of or security for any of the Other Borrower Applicant Obligations, and, to the fullest extent permitted by applicable Requirement of Law, irrespective of any other circumstance whatsoever which might otherwise constitute a legal or equitable discharge or defense of a surety or guarantorguarantor (other than a defense of payment or performance hereunder or thereunder), it being the intent of this Article IX Section 11.23 and this Agreement that the obligations of each Borrower hereunder Applicant under this Agreement shall be absolute and unconditional under any and all circumstancescircumstances (other than to the extent already paid or performed hereunder or thereunder). Without limiting the generality of the foregoing, it is agreed that the occurrence of any one or more of the following shall not affect the liability of either Borrower any Applicant under this Agreement, the Notes Agreement or any other agreement referred to herein or thereinherein: (a) at any time or from time to time, without notice to either Borrowerany Applicant, the time for any performance of or compliance with any of the Other Borrower Applicant Obligations shall be extended, or such performance or compliance shall be waived; (b) any of the acts mentioned in any of the provisions of this Agreement or the Notes or any other agreement or instrument referred to herein or therein shall be done or omitted; (c) the maturity of any of the Other Borrower Applicant Obligations shall be accelerated, or any of the Other Borrower Applicant Obligations shall be modified, supplemented or amended in any respect, or any right under this Agreement or the Notes or any other Loan Credit Document shall be waived or any other guarantee of any of the Other Borrower Applicant Obligations or any security therefor shall be released or exchanged in whole or in part or otherwise dealt with; or (d) any lien or security interest granted to, or in favor of, the Administrative Agent Agent, any Issuer or any other Secured Party Participant or Participants as security for any of the Other Borrower Applicant Obligations shall fail to be perfected. Each Borrower hereby expressly waives, with respect to the Other Borrower Obligations diligence, presentment, demand of payment, protest and all notices whatsoever, and any requirement that the Administrative Agent, any L/C Issuer, the Swing Line Lender or any Lender exhaust any right, power or remedy or proceed against the other Borrower under this Agreement or the Notes or any other Loan Document, or against any other Person under any other guarantee of, or security for, any of the Other Borrower Obligations.

Appears in 1 contract

Samples: Letter of Credit Agreement (McDermott International Inc)

Obligations Joint and Several and Unconditional. The obligations of each Borrower of the Borrowers under this Agreement and the Notes are joint and several and absolute and unconditional irrespective of the value, genuineness, validity, regularity or enforceability of the obligations of the other Borrower Borrowers under this Agreement, the Notes or any other Loan Document agreement or instrument referred to herein or therein (collectively, the “Other Borrower Obligations”"OTHER BORROWER OBLIGATIONS"), or any substitution, release or exchange of any other guarantee of or security for any of the Other Borrower Obligations, and, to the fullest extent permitted by applicable Lawlaw, irrespective of any other circumstance whatsoever which might otherwise constitute a legal or equitable discharge or defense of a surety or guarantor, it being the intent of this Article IX Section 5.22 that the obligations of each Borrower of the Borrowers hereunder shall be absolute and unconditional under any and all circumstances. Without limiting the generality of the foregoing, it is agreed that the occurrence of any one or more of the following shall not affect the liability of either any Borrower under this Agreement, the Notes or any other agreement referred to herein or therein: (ai) at any time or from time to time, without notice to either any Borrower, the time for any performance of or compliance with any of the Other Borrower Obligations shall be extended, or such performance or compliance shall be waived; (bii) any of the acts mentioned in any of the provisions of this Agreement or the Notes or any other agreement or instrument referred to herein or therein shall be done or omitted; (ciii) the maturity of any of the Other Borrower Obligations shall be accelerated, or any of the Other Borrower Obligations shall be modified, supplemented or amended in any respect, or any right under this Agreement or the Notes or any other Loan Document agreement or instrument referred to herein or therein shall be waived or any other guarantee of any of the Other Borrower Obligations or any security therefor shall be released or exchanged in whole or in part or otherwise dealt with; or (div) any lien or security interest granted to, or in favor of, the Administrative Agent or any other Secured Party Lender or Lenders as security for any of the Other Borrower Obligations shall fail to be perfected. Each Borrower of the Borrowers hereby expressly waives, with respect to the Other Borrower Obligations diligence, presentment, demand of payment, protest and all notices whatsoever, and any requirement that the Administrative Agent, any L/C Issuer, the Swing Line Lender Agent or any Lender exhaust any right, power or remedy or proceed against the other Borrower Borrowers under this Agreement or the Notes or any other Loan Documentagreement or instrument referred to herein or therein, or against any other Person under any other guarantee of, or security for, any of the Other Borrower Obligations.

Appears in 1 contract

Samples: Credit Agreement (Edge Petroleum Corp)

Obligations Joint and Several and Unconditional. (a) The obligations of each Borrower under this Agreement and Agreement, the Notes and each other Credit Document are joint and several and absolute and unconditional irrespective of the value, genuineness, validity, regularity or enforceability of the obligations of the other Borrower Borrowers under this Agreement, the Notes or any other Loan Credit Document (collectively, the “Other Borrower Obligations”), or any substitution, release or exchange of any other guarantee of or security for any of the Other Borrower Obligations, and, to the fullest extent permitted by applicable LawLegal Requirement, irrespective of any other circumstance whatsoever which might otherwise constitute a legal or equitable discharge or defense of a surety or guarantor, it being the intent of this Article IX Section 9.28 that the obligations of each Borrower hereunder under this Agreement shall be absolute and unconditional under any and all circumstances. Without limiting the generality of the 153 foregoing, it is agreed that the occurrence of any one or more of the following shall not affect the liability of either any Borrower under this Agreement, the Notes or any other agreement referred to herein or therein: (ai) at any time or from time to time, without notice to either any Borrower, the time for any performance of or compliance with any of the Other Borrower Obligations shall be extended, or such performance or compliance shall be waived; (bii) any of the acts mentioned in any of the provisions of this Agreement or the Notes or any other agreement or instrument referred to herein or therein shall be done or omitted; (ciii) the maturity of any of the Other Borrower Obligations shall be accelerated, or any of the Other Borrower Obligations shall be modified, supplemented or amended in any respect, or any right under this Agreement or the Notes or any other Loan Credit Document shall be waived or any other guarantee of any of the Other Borrower Obligations or any security therefor shall be released or exchanged in whole or in part or otherwise dealt with; or (div) any lien or security interest granted to, or in favor of, the Administrative Agent Agent, any Issuing Lender or any other Secured Party Lender or Lenders as security for any of the Other Borrower Obligations shall fail to be perfected. Each Borrower hereby expressly waives, with respect to the Other Borrower Obligations diligence, presentment, demand of payment, protest and all notices whatsoever, and any requirement that the any Administrative Agent, any L/C Issuer, the Swing Line Lender, the Issuing Lender or any Lender exhaust any right, power or remedy or proceed against the other Borrower Borrowers under this Agreement or the Notes or any other Loan Credit Document, or against any other Person under any other guarantee of, or security for, any of the Other Borrower Obligations.

Appears in 1 contract

Samples: Credit Agreement (NCS Multistage Holdings, Inc.)

Obligations Joint and Several and Unconditional. The obligations of each Borrower under this Agreement and the Notes that are stated to be obligations of both Borrowers are joint and several and absolute and unconditional irrespective of the value, genuineness, validity, regularity or enforceability of the obligations of the other Borrower under this Agreement, the Notes or any other Loan Document agreement or instrument referred to herein or therein (collectively, the “Other Borrower Obligations”"OTHER BORROWER OBLIGATIONS"), or any substitution, release or exchange of any other guarantee of or security for any of the Other Borrower Obligations, and, to the fullest extent permitted by applicable Lawlaw, irrespective of any other circumstance whatsoever which might otherwise constitute a legal or equitable discharge or defense of a surety or guarantor, it being the intent of this Article IX Section 5.22 that the obligations of each Borrower hereunder shall be absolute and unconditional under any and all circumstances. Without limiting the generality of the foregoing, it is agreed that the occurrence of any one or more of the following shall not affect the liability of either Borrower under this Agreement, the Notes or any other agreement referred to herein or therein: (a) at any time or from time to time, without notice to either Borrower, the time for any performance of or compliance with any of the Other Borrower Obligations shall be extended, or such performance or compliance shall be waived; (b) any of the acts mentioned in any of the provisions of this Agreement or the Notes or any other agreement or instrument referred to herein or therein shall be done or omitted; (c) the maturity of any of the Other Borrower Obligations shall be accelerated, or any of the Other Borrower Obligations shall be modified, supplemented or amended in any respect, or any right under this Agreement or the Notes or any other Loan Document agreement or instrument referred to herein or therein shall be waived or any other guarantee of any of the Other Borrower Obligations or any security therefor shall be released or exchanged in whole or in part or otherwise dealt with; or (d) any lien or security interest granted to, or in favor of, the Administrative Agent or any other Secured Party Lender or Lenders as security for any of the Other Borrower Obligations shall fail to be perfected. Each Borrower hereby expressly waives, with respect to the Other Borrower Obligations diligence, presentment, demand of payment, protest and all notices whatsoever, and any requirement that the Administrative Agent, any L/C Issuer, the Swing Line Lender Agent or any Lender exhaust any right, power or remedy or proceed against the other Borrower under this Agreement or the Notes or any other Loan Documentagreement or instrument referred to herein or therein, or against any other Person under any other guarantee of, or security for, any of the Other Borrower Obligations.

Appears in 1 contract

Samples: Credit Agreement (Edge Petroleum Corp)

Obligations Joint and Several and Unconditional. The obligations of each Borrower Applicant under this Agreement and the Notes each other Credit Document are joint and several and absolute and unconditional irrespective of the value, genuineness, validity, regularity or enforceability of the obligations of the any other Borrower Applicant under this Agreement, the Notes Agreement or any other Loan Credit Document (collectively, the “Other Borrower Applicant Obligations”), or any substitution, release or exchange of any other guarantee of or security for any of the Other Borrower Applicant Obligations, and, to the fullest extent permitted by applicable Requirement of Law, irrespective of any other circumstance whatsoever which might otherwise constitute a legal or equitable discharge or defense of a surety or guarantorguarantor (other than a defense of payment or performance hereunder or thereunder), it being the intent of this Article IX Section 11.23 and this Agreement that the obligations of each Borrower hereunder Applicant under this Agreement shall be absolute and unconditional under any and all circumstancescircumstances (other than to the extent already paid or performed hereunder or thereunder). Without limiting the generality of the foregoing, it is agreed that the occurrence of any one or more of the following shall not affect the liability of either Borrower any Applicant under this Agreement, the Notes Agreement or any other agreement referred to herein or thereinherein: (a) at any time or from time to time, without notice to either Borrowerany Applicant, the time for any performance of or compliance with any of the Other Borrower Applicant Obligations shall be extended, or such performance or compliance shall be waived; (b) any of the acts mentioned in any of the provisions of this Agreement or the Notes or any other agreement or instrument referred to herein or therein shall be done or omitted; (c) the maturity of any of the Other Borrower Applicant Obligations shall be accelerated, or any of the Other Borrower Applicant Obligations shall be modified, supplemented or amended in any respect, or any right under this Agreement or the Notes or any other Loan Credit Document shall be waived or any other guarantee of any of the Other Borrower Applicant Obligations or any security therefor shall be released or exchanged in whole or in part or otherwise dealt with; or (d) any lien or security interest granted to, or in favor of, the Administrative Agent Agent, any Issuer or any other Secured Party Participant or Participants as security for any of the Other Borrower Applicant Obligations shall fail to be perfected. Each Borrower hereby expressly waives, with respect to the Other Borrower Obligations diligence, presentment, demand of payment, protest and all notices whatsoever, and any requirement that the Administrative Agent, any L/C Issuer, the Swing Line Lender or any Lender exhaust any right, power or remedy or proceed against the other Borrower under this Agreement or the Notes or any other Loan Document, or against any other Person under any other guarantee of, or security for, any of the Other Borrower Obligations.

Appears in 1 contract

Samples: Letter of Credit Agreement (McDermott International Inc)

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