Common use of Obligations Several Clause in Contracts

Obligations Several. The obligations of the Lenders and the Swap Bank under this Agreement and of the Swap Bank under the Master Agreement are several; and a failure of a Lender or the Swap Bank to perform its obligations under this Agreement or of the Swap Bank to perform its obligations under the Master Agreement shall not result in: (a) the obligations of the other Lenders or (as the case may be) the Swap Bank being increased; nor (b) any Borrower, any Security Party or any other Creditor Party being discharged (in whole or in part) from its obligations under any Finance Document, and in no circumstances shall a Lender or the Swap Bank have any responsibility for a failure of another Lender or the Swap Bank to perform its obligations under this Agreement or the Master Agreement.

Appears in 7 contracts

Samples: Loan Agreement (Diana Shipping Inc.), Loan Agreement (Global Ship Lease, Inc.), Amending and Restating Agreement (Poseidon Containers Holdings Corp.)

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Obligations Several. The obligations of the Lenders and the Swap Bank under this Agreement and of the Swap Bank under the Master Agreement are several; and a failure of a Lender or the Swap Bank to perform its obligations under this Agreement or a failure of the Swap Bank to perform its obligations under the Master Agreement shall not result in: (a) the obligations of the other Lenders or (as the case may be) the Swap Bank being increased; nor (b) any the Borrower, any Security Party or Party, any other Creditor Party Lender or the Swap Bank being discharged (in whole or in part) from its obligations under any Finance Document, Document or under the Master Agreement; and in no circumstances shall a Lender or the Swap Bank have any responsibility for a failure of another Lender or the Swap Bank to perform its obligations under this Agreement or the Master Agreement.

Appears in 4 contracts

Samples: Loan Agreement (EuroDry Ltd.), Loan Agreement (EuroDry Ltd.), Loan Agreement (Euroseas Ltd.)

Obligations Several. The obligations of the Lenders and the Swap Bank under this Agreement and of the Swap Bank Banks under the Master Agreement to which each is a party are several; and a failure of a Lender or the Swap Bank to perform its obligations under this Agreement or a failure of the a Swap Bank to perform its obligations under the Master Agreement to which it is a party shall not result in: (a) the obligations of the other Lenders or (as the case may be) the Swap Bank Banks being increased; nor (b) any BorrowerSecurity Party, any Security Party other Lender or any other Creditor Party Swap Bank being discharged (in whole or in part) from its obligations under any Finance DocumentDocument or under any Master Agreement, and in no circumstances shall a Lender or the a Swap Bank have any responsibility for a failure of another Lender or the another Swap Bank to perform its obligations under this Agreement or the a Master Agreement.

Appears in 4 contracts

Samples: Loan Agreement (Eagle Bulk Shipping Inc.), Loan Agreement (Scorpio Tankers Inc.), Loan Agreement (Scorpio Tankers Inc.)

Obligations Several. The obligations of the Lenders and the Swap Bank under this Agreement and of the Swap Bank Banks under the any Master Agreement to which each is a party are several; and a failure of a Lender or the Swap Bank to perform its obligations under this Agreement or a failure of the a Swap Bank to perform its obligations under the Master Agreement to which it is a party shall not result in: (a) the obligations of the other Lenders or (as the case may be) the Swap Bank Banks being increased; nor (b) any the Borrower, any other Security Party Party, any other Lender or any other Creditor Party Swap Bank being discharged (in whole or in part) from its obligations under any Finance DocumentDocument or under any Master Agreement, and in no circumstances shall a Lender or the a Swap Bank have any responsibility for a failure of another Lender or the another Swap Bank to perform its obligations under this Agreement or the a Master Agreement.

Appears in 3 contracts

Samples: Loan Agreement (Scorpio Tankers Inc.), Loan Agreement (Scorpio Tankers Inc.), Loan Agreement (Scorpio Tankers Inc.)

Obligations Several. The obligations of the Lenders and the Swap Bank under this Agreement and of the Swap Bank under the Master Agreement are several; and a failure of a Lender or the Swap Bank to perform its obligations under this Agreement or of the Swap Bank to perform its obligations under the Master Agreement shall not result in: (a) the obligations of the other Lenders or (as the case may be) the Swap Bank being increased; nor (b) any either Borrower, any Security Party or any other Creditor Party being discharged (in whole or in part) from its obligations under any Finance Document, and in no circumstances shall a Lender or the Swap Bank have any responsibility for a failure of another Lender or the Swap Bank to perform its obligations under this Agreement or the Master Agreement.

Appears in 3 contracts

Samples: Loan Agreement (Diana Shipping Inc.), Loan Agreement (Box Ships Inc.), Loan Agreement (Star Bulk Management Inc.)

Obligations Several. The obligations of the Lenders and the Swap Bank under this Agreement and of the Swap Bank Banks under the Master Agreement to which each is a party are several; and a failure of a Lender or the Swap Bank to perform its obligations under this Agreement or a failure of the a Swap Bank to perform its obligations under the Master Agreement to which it is a party shall not result in: (a) the obligations of the other Lenders or (as the case may be) the Swap Bank Banks being increased; nor (b) any Borrower, any Security Party Party, any other Lender or any other Creditor Party Swap Bank being discharged (in whole or in part) from its obligations under any Finance DocumentDocument or under any Master Agreement, and in no circumstances shall a Lender or the a Swap Bank have any responsibility for a failure of another Lender or the another Swap Bank to perform its obligations under this Agreement or the a Master Agreement.

Appears in 2 contracts

Samples: Loan Agreement (Scorpio Tankers Inc.), Loan Agreement (Top Ships Inc.)

Obligations Several. The obligations of the Lenders and the Swap Bank under this Agreement and of the Swap Bank under the Master Agreement are several; and a failure of a Lender or the Swap Bank to perform its obligations under this Agreement or a failure of the Swap Bank to perform its obligations under the Master Agreement shall not result in: (a) the obligations of the other Lenders or (as the case may be) the Swap Bank being increased; nor (b) any a Borrower, any Security Party or Party, any other Creditor Party Lender or the Swap Bank being discharged (in whole or in part) from its obligations under any Finance Document, Document or under the Master Agreement; and in no circumstances shall a Lender or the Swap Bank have any responsibility for a failure of another Lender or the Swap Bank to perform its obligations under this Agreement or the Master Agreement.

Appears in 2 contracts

Samples: Loan Agreement (Paragon Shipping Inc.), Loan Agreement (Star Bulk Carriers Corp.)

Obligations Several. The obligations of the Lenders and the Swap Bank under this Agreement and of the Swap Bank Banks under the Master Agreement are several; and a failure of a Lender or the Swap Bank to perform its obligations under this Agreement or a failure of the a Swap Bank to perform its obligations under the Master Agreement shall not result in: (a) the obligations of the other Lenders or (as and/or the case may be) the other Swap Bank being increased; nor (b) any the Borrower, any Security Party or Party, any other Creditor Party Lender or the other Swap Banks being discharged (in whole or in part) from its obligations under any Finance Document, Document or under a Master Agreement; and in no circumstances shall a Lender or the a Swap Bank have any responsibility for a failure of another Lender or the Swap Bank to perform its obligations under this Agreement or the a Master Agreement.

Appears in 2 contracts

Samples: Loan Agreement (Paragon Shipping Inc.), Loan Agreement (Paragon Shipping Inc.)

Obligations Several. The obligations of the Lenders and the Swap Bank under this Agreement and of the Swap Bank Banks under the Master Agreement to which each is a party are several; and a failure of a Lender or the Swap Bank to perform its obligations under this Agreement or a failure of the a Swap Bank to perform its obligations under the Master Agreement to which it is a party shall not result in: (a) the obligations of the other Lenders or (as the case may be) the Swap Bank Banks being increased; nor (b) any the Borrower, any Security Party Party, any other Lender or any other Creditor Party Swap Bank being discharged (in whole or in part) from its obligations under any Finance DocumentDocument or under any Master Agreement, and in no circumstances shall a Lender or the a Swap Bank have any responsibility for a failure of another Lender or the another Swap Bank to perform its obligations under this Agreement or the a Master Agreement.

Appears in 2 contracts

Samples: Loan Agreement (Scorpio Tankers Inc.), Loan Agreement (Scorpio Bulkers Inc.)

Obligations Several. The obligations of the Lenders and the Swap Bank under this Agreement and of the Swap Bank Banks under the Master Agreement to which each is a party are several; and a failure of a Lender or the Swap Bank to perform its obligations under this Agreement or a failure of the a Swap Bank to perform its obligations under the Master Agreement to which it is a party shall not result in: (a) the obligations of the other Lenders or (as the case may be) the Swap Bank Banks being increased; nor (b) any the Borrower, any Security Party Party, any other Lender or any other Creditor Party Swap Bank being discharged (in whole or in part) from its obligations under any Finance DocumentDocument or under any Master Agreement, and in no circumstances shall a Lender or the a Swap Bank have any responsibility for a failure of another Lender or the another Swap Bank to perform its obligations under this Agreement or the a Master Agreement.

Appears in 2 contracts

Samples: Amending and Restating Agreement (Seacastle Inc.), Loan Agreement (Seacastle Inc.)

Obligations Several. The obligations of the Lenders and the Swap Bank under this Agreement and of the each Swap Bank under the Master Agreement to which it is a party are several; and a failure of a Lender or the Swap Bank to perform its obligations under this Agreement or of the either Swap Bank to perform its obligations under the Master Agreement to which it is a party shall not result in: (a) the obligations of the other Lenders or (as the case may be) the Swap Bank being increased; nor (b) any the Borrower, any Security Party or any other Creditor Party being discharged (in whole or in part) from its obligations under any Finance Document, ; and in no circumstances shall a Lender or the Swap Bank have any responsibility for a failure of another Lender or the either Swap Bank to perform its obligations under this Agreement or and the Master AgreementAgreement to which it is a party.

Appears in 2 contracts

Samples: Loan Facility Agreement (Star Bulk Carriers Corp.), Loan Facility Agreement (Star Bulk Carriers Corp.)

Obligations Several. The obligations of the Lenders and the each Swap Bank under this Agreement and of the that Swap Bank under the relevant Master Agreement are several; and a failure of a Lender or the a Swap Bank to perform its obligations under this Agreement or of the a Swap Bank to perform its obligations under the Master Agreement to which that Swap Bank is a party shall not result in: (a) the obligations of the other Lenders or (as the case may be) the other Swap Bank Banks being increased; nor (b) any Borrower, any Security Party or any other Creditor Party being discharged (in whole or in part) from its obligations under any Finance Document, and in no circumstances shall a Lender or the a Swap Bank have any responsibility for a failure of another Lender or the another Swap Bank to perform its obligations under this Agreement or the any Master Agreement.

Appears in 2 contracts

Samples: Loan Agreement (Costamare Partners LP), Loan Agreement (Costamare Partners LP)

Obligations Several. The obligations of the Lenders and the Swap Bank under this Agreement and of the Swap Bank Banks under the Master Agreement to which each is a party are several; and a failure of a Lender or the Swap Bank to perform its obligations under this Agreement or a failure of the a Swap Bank to perform its obligations under the Master Agreement to which it is a party shall not result in: (a) the obligations of the other Lenders or (as the case may be) the other Swap Bank Banks being increased; nor (b) any the Borrower, any Security Party Party, any other Lender or any other Creditor Party Swap Bank being discharged (in whole or in part) from its obligations under any Finance Document, Document or a Master Agreement; and in no circumstances shall a Lender or the a Swap Bank have any responsibility for a failure of another Lender or the another Swap Bank to perform its obligations under this Agreement or the Master AgreementAgreement to which it is a party.

Appears in 2 contracts

Samples: Loan Agreement (Grindrod Shipping Holdings Pte. Ltd.), Loan Agreement (Euronav NV)

Obligations Several. The obligations of the Lenders and the Swap Bank under this Agreement and of the Swap Bank under the Master Agreement are several; and a failure of a Lender or the Swap Bank to perform its obligations under this Agreement or a failure of the Swap Bank to perform its obligations under the Master Agreement shall not result in: (a) the obligations of the other Lenders or (as the case may be) the Swap Bank being increased; nor (b) any a Borrower, any Security Party or Party, any other Creditor Party Lender or the Swap Bank being discharged (in whole or in part) from its obligations under any Finance DocumentDocument or under the Master Agreement, and in no circumstances shall a Lender or the Swap Bank have any responsibility for a failure of another Lender or the Swap Bank to perform its obligations under this Agreement or the Master Agreement.

Appears in 1 contract

Samples: Loan Agreement (Seanergy Maritime Holdings Corp.)

Obligations Several. The obligations of the Lenders and the Swap Bank under this Agreement and of the Swap Bank Banks under the Master Agreement to which each is a party are several; and a failure of a Lender or the Swap Bank to perform its obligations under this Agreement or a failure of the a Swap Bank to perform its obligations under the Master Agreement to which it is a party shall not result in: (a) the obligations of the other Lenders or (as the case may be) the Swap Bank Banks being increased; nor (b) any Borrower, any Security Party Party, any other Lender or any other Creditor Party Swap Bank being discharged (in whole or in part) from its obligations under any Finance Document, Document or under any Master Agreement; and in no circumstances shall a Lender or the a Swap Bank have any responsibility for a failure of another Lender or the another Swap Bank to perform its obligations under this Agreement or the a Master Agreement.

Appears in 1 contract

Samples: Loan Agreement (Euronav NV)

Obligations Several. The obligations of the Lenders and the Swap Bank under this Agreement and of the each Swap Bank under the Master Agreement to which it is a party are several; and a failure of a Lender or the Swap Bank to perform its obligations under this Agreement or of the a failure by a Swap Bank to perform its obligations under the Master Agreement to which it is a party shall not result in: (a) the obligations of the other Lenders or (as of the case may be) the other Swap Bank Banks being increased; nor (b) any the Borrower, any Security Party Party, any other Lender or any other Creditor Party Swap Bank being discharged (in whole or in part) from its obligations under any Finance Document, Document or under any Master Agreement; and in no circumstances shall a Lender or the a Swap Bank have any responsibility for a failure of another Lender or the a Swap Bank to perform its obligations under this Agreement or (in the case of a Swap Bank) under the Master AgreementAgreement to which it is a party.

Appears in 1 contract

Samples: Loan Agreement (Britannia Bulk Holdings Inc)

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Obligations Several. The obligations of the Lenders and the Swap Bank under this Agreement and of the Swap Bank Banks under the Master Agreement to which each is a party are several; and a failure of a Lender or the Swap Bank to perform its obligations under this Agreement or a failure of the a Swap Bank to perform its obligations under the Master Agreement to which it is a party shall not result in: (a) a. the obligations of the other Lenders or (as the case may be) the Swap Bank Banks being increased; nor (b) b. any Borrower, any Security Party Party, any other Lender or any other Creditor Party Swap Bank being discharged (in whole or in part) from its obligations under any Finance DocumentDocument or under any Master Agreement, and in no circumstances shall a Lender or the a Swap Bank have any responsibility for a failure of another Lender or the another Swap Bank to perform its obligations under this Agreement or the a Master Agreement.

Appears in 1 contract

Samples: Loan Agreement (Scorpio Bulkers Inc.)

Obligations Several. The obligations of the Lenders and the Swap Bank under this Agreement and of the Swap Bank under the Master Agreement are several; and a failure of a Lender or of the Swap Bank to perform its obligations under this Agreement or and of the Swap Bank to perform its obligations under the Master Agreement shall not result in: (a) the obligations of the other Lenders or (as the case may be) the Swap Bank being increased; nor (b) any the Borrower, any Security Party or Party, any other Creditor Party Lender or the Swap Bank being discharged (in whole or in part) from its obligations under any Finance Document, Document or under the Master Agreement; and in no circumstances shall a Lender or the Swap Bank have any responsibility for a failure of another Lender or of the Swap Bank to perform its obligations under this Agreement or the Master Agreement.

Appears in 1 contract

Samples: Loan Agreement (Tsakos Energy Navigation LTD)

Obligations Several. The obligations of the Lenders and the Swap Bank under this Agreement and of the Swap Bank under the Master Agreement are several; and a failure of a Lender or the Swap Bank to perform its obligations under this Agreement or a failure of the Swap Bank to perform its obligations under the Master Agreement shall not result in: (a) the obligations of the other Lenders or (as the case may be) the Swap Bank being increased; nor (b) any either Borrower, any Security Party or Party, any other Creditor Party Lender or the Swap Bank being discharged (in whole or in part) from its obligations under any Finance DocumentDocument or under the Master Agreement, and in no circumstances shall a Lender or the Swap Bank have any responsibility for a failure of another Lender or the Swap Bank to perform its obligations under this Agreement or the Master Agreement.

Appears in 1 contract

Samples: Loan Agreement (Pyxis Tankers Inc.)

Obligations Several. The obligations of the Lenders and the Swap Bank under this Agreement and of the Swap Bank Banks under the Master Agreement to which it is a party are several; and a failure of a Lender or the Swap Bank to perform its obligations under this Agreement or of the a failure by a Swap Bank to perform its obligations under the Master Agreement to which it is a party shall not result in: (a) the obligations of the other Lenders or (as the case may be) the other Swap Bank Banks being increased; nor (b) any Borrower, any Security Party Party, any other Lender or any other Creditor Party Swap Bank being discharged (in whole or in part) from its obligations under any Finance Document, Document or under any Master Agreement; and in no circumstances shall a Lender or the a Swap Bank have any responsibility for a failure of another Lender or the another Swap Bank to perform its obligations under this Agreement or the Master AgreementAgreement to which it is a party.

Appears in 1 contract

Samples: Loan Agreement (Euronav NV)

Obligations Several. The obligations of the Lenders and the Swap Bank under this Agreement and of the Swap Bank Banks under the any Master Agreement Agreements to which each is a party are several; and a failure of a Lender or the Swap Bank to perform its obligations under this Agreement or a failure of the a Swap Bank to perform its obligations under the Master Agreement Agreements to which it is a party shall not result in: (a) the obligations of the other Lenders or (as the case may be) the Swap Bank Banks being increased; nor (b) any Borrowerthe Borrowers, any other Security Party Party, any other Lender or any other Creditor Party Swap Bank being discharged (in whole or in part) from its obligations under any Finance DocumentDocument or under any Master Agreement, and in no circumstances shall a Lender or the a Swap Bank have any responsibility for a failure of another Lender or the Swap Bank to perform its obligations under this Agreement or the a Master Agreement.

Appears in 1 contract

Samples: Loan Agreement (Scorpio Tankers Inc.)

Obligations Several. The obligations of the Lenders and the Swap Bank under this Agreement and of the Swap Bank Banks under the Master Agreement Agreements are several; and a failure of a Lender or the Swap Bank to perform its obligations under this Agreement or a failure of the a Swap Bank to perform its obligations under the Master Agreement to which it is a party shall not result in: (a) the obligations of the other Lenders or (as and/or the case may be) the other Swap Bank being increased; nor (b) any the Borrower, any Security Party or Party, any other Creditor Party Lender or the other Swap Bank being discharged (in whole or in part) from its obligations under any Finance Document, Document or any Master Agreement; and in no circumstances shall a Lender or the a Swap Bank have any responsibility for a failure of another Lender or the Swap Bank Creditor Party to perform its obligations under this Agreement or the a Master Agreement.

Appears in 1 contract

Samples: Loan Agreement (Grindrod Shipping Holdings Pte. Ltd.)

Obligations Several. The obligations of the Lenders and the Swap Bank under this Agreement and of the Swap Bank under the Master Agreement Agreements are several; and a failure of a Lender to perform its obligations under this Agreement or a failure by the Swap Bank to perform its obligations under this Agreement or of the Swap Bank to perform its obligations under the a Master Agreement shall not result in: (a) the obligations of the other Lenders or (as the case may be) the Swap Bank being increased; nor (b) any Borrower, any Security Party or Party, any other Creditor Party Lender or the Swap Bank being discharged (in whole or in part) from its obligations under any Finance Document, Document or under any Master Agreement; and in no circumstances shall a Lender or the a Swap Bank have any responsibility for a failure of another Lender or the Swap Bank to perform its obligations under this Agreement or the a Master Agreement.

Appears in 1 contract

Samples: Loan Agreement (Mc Shipping Inc)

Obligations Several. The obligations of the Lenders and the Swap Bank under this Agreement and of the Swap Bank under the Master Agreement are several; and a failure of a Lender or the Swap Bank to perform its obligations under this Agreement or a failure of the Swap Bank to perform its obligations under the Master Agreement shall not result in: (a) the obligations of the other Lenders or (as the case may be) the Swap Bank being increased; nor (b) any the Borrower, any Security Party or Party, any other Creditor Party Lender or the Swap Bank being discharged (in whole or in part) from its obligations under any Finance DocumentDocument or under the Master Agreement, and in no circumstances shall a Lender or the Swap Bank have any responsibility for a failure of another Lender or the Swap Bank to perform its obligations under this Agreement or the Master Agreement.

Appears in 1 contract

Samples: Loan Agreement (B Plus H Ocean Carriers LTD)

Obligations Several. The obligations of the Lenders and the Swap Bank under this Agreement and of the Swap Bank under the Master Agreement are several; and a failure of a Lender or the Swap Bank to perform its obligations under this Agreement or of the Swap Bank to perform its obligations under the Master Agreement shall not result in: (a) the obligations of the other Lenders or (as the case may be) the Swap Bank being increased; nor (b) any the Borrower, any Security Party or any other Creditor Party being discharged (in whole or in part) from its obligations under any Finance Document, and in no circumstances shall a Lender or the Swap Bank have any responsibility for a failure of another Lender or the Swap Bank to perform its obligations under this Agreement or the Master Agreement.

Appears in 1 contract

Samples: Loan Agreement (Costamare Partners LP)

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