Common use of One Obligation Clause in Contracts

One Obligation. The Loans, LC Obligations, and other Obligations shall constitute one general, joint and several obligation of Credit Parties and (unless otherwise expressly provided in any Loan Document) shall be secured by Agent’s Lien upon all Collateral (subject at all times to the Initial Intercreditor Agreement and any other Acceptable Intercreditor Agreement); provided, however, that Agent and each Lender shall be deemed to be a creditor of, and the holder of a separate claim against, each Credit Party to the extent of any Obligations jointly or severally owed by such Credit Party.

One Obligation. The Loans, LC Obligations, and other Obligations shall constitute one general, joint and several obligation of Credit Parties and (unless otherwise expressly provided in any Loan Document) shall be secured by Administrative Agent’s Lien upon all Collateral (subject at all times to the Initial Intercreditor Agreement and any other Acceptable Intercreditor Agreement)Collateral; provided, however, that Administrative Agent and each Lender shall be deemed to be a creditor of, and the holder of a separate claim against, each Credit Party to the extent of any Obligations jointly or severally owed by such Credit Party.

One Obligation. The Loans, LC Obligations, Obligations and other Obligations shall constitute one general, joint and several general obligation of Credit Parties Borrowers and (unless otherwise expressly provided in any Loan Document) shall be secured by Administrative Agent’s Lien upon all Collateral (subject at all times to the Initial Intercreditor Agreement and any other Acceptable Intercreditor Agreement)Collateral; provided, however, that Agent and each Lender Credit Party shall be deemed to be a creditor of, and the holder of a separate claim against, each Credit Party Borrower to the extent of any Obligations jointly or severally owed by such Borrower to such Credit Party.

One Obligation. The Loans, LC Obligations, Obligations and other Obligations shall constitute one general, joint and several general obligation of Credit Parties each Obligated Party and (unless otherwise expressly provided in any Loan Document) shall be secured by Agent’s Lien upon all Collateral (subject at all times to the Initial Intercreditor Agreement and any other Acceptable Intercreditor Agreement)Collateral; provided, however, that Agent and each Lender shall be deemed to be a creditor of, and the holder of a separate claim against, each Credit Obligated Party to the extent of any Obligations jointly or severally owed by such Credit Obligated Party.

One Obligation. The Loans, LC Obligations, Obligations and other Obligations shall constitute one general, joint and several general obligation of Credit Borrowers and the other Loan Parties and (unless otherwise expressly provided in any Loan Document) shall be secured by Agent’s Lien upon all Collateral (subject at all times to the Initial Intercreditor Agreement and any other Acceptable Intercreditor Agreement)Collateral; provided, however, that Agent and each Lender shall be deemed to be a creditor of, and the holder of a separate claim against, each Credit Borrower and each other Loan Party to the extent of any Obligations jointly or severally owed by such Credit Borrower and such other Loan Party.

One Obligation. The Loans, LC Obligations, Term Loans and other Obligations shall constitute one general, joint and several obligation of Credit Parties and (unless otherwise expressly provided in any Loan Document) shall be secured by Administrative Agent’s Lien upon all Collateral (subject at all times to the Initial Intercreditor Agreement and any other Acceptable Intercreditor Agreement)Collateral; provided, however, that Administrative Agent and each Lender shall be deemed to be a creditor of, and the holder of a separate claim against, each Credit Party to the extent of any Obligations jointly or severally owed by such Credit Party.