Common use of Obligations Remain Clause in Contracts

Obligations Remain. (a) Anything contained herein to the contrary notwithstanding: (i) each Debtor shall remain liable under any partnership agreement or limited liability company agreement relating to any partnership interest or limited liability company interest included in the Collateral and any other contracts and agreements included in the Collateral, to the extent set forth therein, to perform all of its duties and obligations thereunder to the same extent as if this Agreement had not been executed; (ii) the exercise by Secured Party of any of its rights hereunder shall not release any Debtor from any of its duties or obligations under the contracts and agreements included in the Collateral; and (iii) Secured Party shall not have any obligation or liability under any partnership agreement or limited liability company agreement relating to any partnership interest or limited liability company interest included in the Collateral and any other contracts and agreements included in the Collateral by reason of this Agreement, nor shall Secured Party, be obligated to perform any of the obligations or duties of any Debtor thereunder or to take any action to collect or enforce any claim for payment assigned hereunder. (b) Neither Secured Party nor any purchaser at a foreclosure sale under this Agreement shall be obligated to assume any obligation or liability under any partnership agreement or limited liability company agreement relating to any partnership interest or limited liability company interest included in the Collateral or any other contracts and agreements included in the Collateral.

Appears in 1 contract

Samples: Pledge and Security Agreement (Orbital Sciences Corp /De/)

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Obligations Remain. (a) Anything contained herein to the contrary notwithstanding: (i) each Debtor Pledgor shall remain liable under any partnership agreement or limited liability company agreement relating to any partnership interest or limited liability company interest included in the Collateral and Pledged LLC Interest and/or any other contracts and agreements included in the Collateral, to the extent set forth therein, to perform all of its duties and obligations thereunder to the same extent as if this Agreement had not been executed; (ii) the exercise by Secured Party of any of its rights hereunder shall not release any Debtor Pledgor from any of its duties or obligations under the contracts and agreements included in the Collateral; and (iii) Secured Party shall not have any obligation or liability under any partnership agreement or limited liability company agreement relating to any partnership interest Pledged LLC Interests or limited liability company interest included in the Collateral and any other contracts and agreements included in the Collateral by reason of this Agreement, nor shall Secured Party, Party be obligated to perform any of the obligations or duties of any Debtor Pledgor thereunder or to take any action to collect or enforce any claim for payment assigned hereunder. (b) Neither Secured Party nor any purchaser at a foreclosure sale under this Agreement shall be obligated to assume any obligation or liability under any partnership agreement or limited liability company agreement relating to any partnership interest or limited liability company interest included in the Collateral Pledged LLC Interests or any other contracts and agreements included in the Collateral.

Appears in 1 contract

Samples: Pledge Agreement (Majestic Investor Capital Corp)

Obligations Remain. (a) Anything contained herein to the contrary notwithstanding: (i) each Debtor shall remain liable under any partnership agreement or limited liability company agreement relating to any partnership interest Pledged Partnership Interest or limited liability company interest included in the Collateral and Pledged LLC Interest, any Assigned Agreement and/or any other contracts and agreements included in the Collateral, to the extent set forth therein, to perform all of its duties and obligations thereunder to the same extent as if this Agreement had not been executed; (ii) the exercise by the Secured Party of any of its rights hereunder shall not release any Debtor from any of its duties or obligations under the contracts and agreements included in the Collateral; and (iii) the Secured Party shall not have any obligation or liability under any partnership agreement or limited liability company agreement relating to any partnership interest Pledged Partnership Interests or limited liability company interest included in the Collateral and Pledged LLC Interests, any Assigned Agreement or any other contracts and agreements included in the Collateral by reason of this Agreement, nor shall the Secured Party, be obligated to perform any of the obligations or duties of any Debtor thereunder or to take any action to collect or enforce any claim for payment assigned hereunder. (b) Neither the Secured Party nor any purchaser at a foreclosure sale under this Agreement shall be obligated to assume any obligation or liability under any partnership agreement or limited liability company agreement relating to any partnership interest Pledged Partnership Interests or limited liability company interest included in the Collateral Pledged LLC Interests, any Assigned Agreement or any other contracts and agreements included in the Collateral.

Appears in 1 contract

Samples: Pledge and Security Agreement (Mikohn Gaming Corp)

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Obligations Remain. (a) Anything contained herein to the contrary notwithstanding: (i) each Debtor shall remain liable under any partnership agreement or limited liability company agreement relating to any partnership interest Pledged Partnership Interest or limited liability company interest included in the Collateral and Pledged LLC Interest, any Assigned Agreement and/or any other contracts and agreements included in the Collateral, to the extent set forth therein, to perform all of its duties and obligations thereunder to the same extent as if this Agreement had not been executed; (ii) the exercise by Secured Party of any of its rights hereunder shall not release any Debtor from any of its duties or obligations under the contracts and agreements included in the Collateral; and (iii) Secured Party shall not have any obligation or liability under any partnership agreement or limited liability company agreement relating to any partnership interest Pledged Partnership Interests or limited liability company interest included in the Collateral and Pledged LLC Interests, any Assigned Agreement or any other contracts and agreements included in the Collateral by reason of this Agreement, nor shall Secured Party, be obligated to perform any of the obligations or duties of any Debtor thereunder or to take any action to collect or enforce any claim for payment assigned hereunder. (b) Neither Secured Party nor any purchaser at a foreclosure sale under this Agreement shall be obligated to assume any obligation or liability under any partnership agreement or limited liability company agreement relating to any partnership interest Pledged Partnership Interests or limited liability company interest included in the Collateral Pledged LLC Interests, any Assigned Agreement or any other contracts and agreements included in the Collateral.

Appears in 1 contract

Samples: Pledge and Security Agreement (Majestic Investor Capital Corp)

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