Obligations of Equityholders Several and Not Joint. Notwithstanding any other provision of this Pledge and Security Agreement, if there is more than one Equityholder, references to the Equityholder herein shall apply to each Equityholder mutatis mutandis and the obligations of each Equityholder hereunder shall be several and not joint and in no event shall the Issuer Pledged Collateral of one Equityholder be used to satisfy the failure by any other Equityholder to perform any obligation hereunder.
Appears in 2 contracts
Samples: Pledge and Security Agreement (Theravance Biopharma, Inc.), Pledge and Security Agreement (Theravance Biopharma, Inc.)
Obligations of Equityholders Several and Not Joint. Notwithstanding any other provision of this Pledge and Security Agreement, if there is more than one Equityholder, references to the Equityholder herein shall apply to each Equityholder mutatis mutandis and the obligations of each Equityholder hereunder shall be several and not joint and in no event shall the Issuer Pledged Collateral of one Equityholder be used to satisfy the failure by any other Equityholder to perform any obligation hereunder.
Appears in 2 contracts
Samples: Pledge and Security Agreement (Biocryst Pharmaceuticals Inc), Pledge and Security Agreement (PDL Biopharma, Inc.)
