Common use of Obligations Several Clause in Contracts

Obligations Several. The obligations of the Lenders under this Agreement and of the Swap Bank under the Master Agreement are several; and a failure of a Lender 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 being increased; nor (b) 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 have any responsibility for a failure of another Lender or the Swap Bank to perform its obligations under this Agreement and the Master Agreement.

Appears in 10 contracts

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

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Obligations Several. The obligations of the Lenders under this Agreement and of the Swap Bank under the Master Agreement are several; and a failure of a Lender 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 being increased; nor (b) 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 and or the Master Agreement.

Appears in 9 contracts

Samples: Loan Agreement, Loan Agreement, Loan Agreement (Danaos Corp)

Obligations Several. The obligations of the Lenders under this Agreement and of the Swap Bank Banks under the Master Agreement Agreements are several; and a failure of a Lender to perform its obligations under this Agreement or 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 being increased; nor (b) 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 a Swap Bank have any responsibility for a failure of another Lender or the Swap Bank to perform its obligations under this Agreement and the or any Master Agreement.

Appears in 3 contracts

Samples: Loan Agreement (DryShips Inc.), Loan Agreement (DryShips Inc.), Loan Agreement (DryShips 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 being increased; nor (b) 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 have any responsibility for a failure of another Lender or the Swap Bank to perform its obligations under this Agreement and the Master Agreement.

Appears in 3 contracts

Samples: Amending and Restating Deed, Amending and Restating Deed (Global Ship Lease, Inc.), Second Amending and Restating Deed (Global Ship Lease, Inc.)

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

Appears in 2 contracts

Samples: Loan Agreement (Pangaea Logistics Solutions Ltd.), Loan Agreement (Pangaea Logistics Solutions Ltd.)

Obligations Several. The obligations of the Lenders under this Agreement and of the Swap Bank under the Master Agreement are several; and a failure of a Lender 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 the Swap Bank being increased; nor (b) the Borrower, any Security Party or any other Creditor Party being discharged (in whole or in part) from its obligations under any Finance Document; 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 and or the Master Agreement.

Appears in 2 contracts

Samples: Loan Agreement (Capital Product Partners L.P.), Loan Agreement

Obligations Several. The obligations of the Lenders 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 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 the Swap Bank being increased; nor (b) the BorrowerBorrowers, 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 Swap Bank have any responsibility for a failure of another Lender or the Swap Bank to perform its obligations under this Agreement and the or a Master Agreement.

Appears in 1 contract

Samples: Loan Agreement (Capital Product Partners L.P.)

Obligations Several. The obligations of the Lenders under this Agreement and of the Swap Bank under the Master this Agreement are several; and a failure of a Lender any one of them 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 any of the other Lenders others being increased; nor (b) the 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 DocumentDocument or the Master Agreement; and in no circumstances shall a Lender Creditor Party have any responsibility for a failure of another Lender or the Swap Bank Creditor Party to perform its obligations under this Agreement and or the Master Agreement.

Appears in 1 contract

Samples: Facility Agreement (NewLead Holdings Ltd.)

Obligations Several. The obligations of the Lenders 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 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 the Swap Bank being increased; nor (b) the BorrowerBorrowers, 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 and the or a Master Agreement.

Appears in 1 contract

Samples: Loan Agreement (Capital Product Partners L.P.)

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Obligations Several. The obligations of the Lenders under this Agreement and of the Swap Bank under the Master Agreement are several; and a failure of a Lender 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 the Swap Bank being increased; nor (b) 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 have any responsibility for a failure of another Lender or the Swap Bank to perform its obligations under this Agreement and the Master Agreement.

Appears in 1 contract

Samples: Loan Agreement (DryShips Inc.)

Obligations Several. The obligations of the Lenders under this Agreement and of the Swap Bank under the Master Agreement are several; and a failure of a Lender 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 being increased; nor (b) the Borrower, any Security Party or any other Creditor Party Lender 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 have any responsibility for a failure of another Lender or the Swap Bank to perform its obligations under this Agreement and the Master Agreement.

Appears in 1 contract

Samples: Loan Agreement (Pangaea Logistics Solutions Ltd.)

Obligations Several. The obligations of the Lenders under this Agreement and of the Swap Bank under the Master Agreement are several; and a failure of a Lender 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 being increased; nor (b) the Borrower, any Security Party or any other Creditor Party 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 have any responsibility for a failure of another Lender or the Swap Bank to perform its obligations under this Agreement and the Master Agreement.

Appears in 1 contract

Samples: Amending and Restating Agreement (Paragon Shipping Inc.)

Obligations Several. The obligations of the Lenders under this Agreement and of the Swap Bank under the Master Agreement are several; and a failure of a Lender 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 being increased; nor (b) the Borrower, any Security Party or any other Creditor Party 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 have any responsibility for a failure of another Lender or the Swap Bank to perform its obligations under this Agreement and the Master Agreement.

Appears in 1 contract

Samples: Loan Agreement (Paragon Shipping Inc.)

Obligations Several. The obligations of the Lenders under this Agreement and of the Swap Bank Banks under the Master Agreement Agreements are several; and a failure of a Lender to perform its obligations under this Agreement or 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 being increased; nor (b) 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 a Swap Bank have any responsibility for a failure of another Lender or the another Swap Bank to perform its obligations under this Agreement and the or a Master Agreement.

Appears in 1 contract

Samples: Loan Agreement (Danaos Corp)

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