Common use of One Obligation Clause in Contracts

One Obligation. The Loans, Letter of Credit Usage and other Obligations constitute one general obligation of Borrowers and are secured by Agent’s Lien on all 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 Borrower to the extent of any Obligations jointly or severally owed by such Borrower.

Appears in 1 contract

Sources: Loan and Security Agreement (Seneca Foods Corp)

One Obligation. The Loans, Letter of Credit Usage Loans and other Obligations constitute one general obligation of Borrowers the Borrower and are secured by Agent’s Lien on all 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 Borrower to the extent of any Obligations jointly or severally owed by such Borrower.

Appears in 1 contract

Sources: Term Loan and Security Agreement (Key Energy Services Inc)

One Obligation. The Loans, Letter of Credit Usage Loans and other Obligations related thereto constitute one general obligation of Borrowers Borrower and are secured by Agent’s Lien on all 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 Borrower to the extent of any Obligations jointly or severally owed by such Borrower.

Appears in 1 contract

Sources: Senior Credit Agreement (Hornbeck Offshore Services Inc /La)

One Obligation. The Loans, Letter of Credit Usage Loans and other Obligations constitute one general obligation of Borrowers and all Obligations are secured by Agent’s 's Lien on all 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 Borrower to the extent of any Obligations jointly or severally owed by such Borrower.

Appears in 1 contract

Sources: Loan and Security Agreement (Innerworkings Inc)

One Obligation. The Loans, Letter of Credit Usage Loans and other Obligations constitute one general obligation of Borrowers and are secured by the Administrative Agent’s Lien on all Collateral; provided, however, that the Administrative Agent and each Lender shall be deemed to be a creditor of, and the holder of a separate claim against, each Borrower to the extent of any Obligations jointly or severally owed by such Borrower.

Appears in 1 contract

Sources: First Amendment Agreement (United Natural Foods Inc)

One Obligation. The Loans, Letter of Credit Usage Loans and other Obligations constitute one general obligation of Borrowers and the other Obligors and are secured by Agent’s Lien (for the benefit of the Secured Parties) on all 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 Borrower to the extent of any Obligations jointly or severally owed by such Borrower.

Appears in 1 contract

Sources: Loan and Security Agreement (SWK Holdings Corp)

One Obligation. The Loans, Letter of Credit Usage Loans and other Obligations constitute one general obligation of Borrowers and the other Obligors and are secured by Agent’s 's Lien (for the benefit of the Secured Parties) on all 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 Borrower to the extent of any Obligations jointly or severally owed by such Borrower.

Appears in 1 contract

Sources: Loan and Security Agreement (SWK Holdings Corp)