Common use of Pledge of Credit Clause in Contracts

Pledge of Credit. Seller shall not pledge Purchaser’s credit or make it a guarantor of payment or surety for any contract, debt, obligation, judgment, lien or any form of indebtedness. This Agreement shall not constitute a pledge of the full faith and credit of Purchaser in violation of Section 10 of Article X of the Constitution of Virginia or a bond or debt of Purchaser within the meaning of Section 10 of Article VII of the Constitution of Virginia. For the avoidance of doubt, Xxxxxx acknowledges and agrees that all of the payment obligations of Purchaser in this Agreement are expressly conditioned upon Purchaser’s receipt of Services rendered by Seller.

Pledge of Credit. Seller shall not pledge Purchaser’s credit or make it a guarantor of payment or surety for any contract, debt, obligation, judgment, lien or any form of indebtedness. This Agreement shall not constitute a pledge of the full faith and credit of Purchaser in violation of Section 10 of Article X of the Constitution of Virginia or a bond or debt of Purchaser within the meaning of Section 10 of Article VII of the Constitution of Virginia. For the avoidance of doubt, Xxxxxx acknowledges and agrees that all of the payment obligations of Purchaser in this Agreement are expressly conditioned upon Purchaser’s receipt of Services rendered by Seller.Seller.‌

Pledge of Credit. Seller shall not pledge Purchaser’s credit or make it a guarantor of payment or surety for any contract, debt, obligation, judgment, lien or any form of indebtedness. This Agreement shall not constitute a pledge of the full faith and credit of Purchaser in violation of Section 10 of Article X of the Constitution of Virginia or a bond or debt of Purchaser within the meaning of Section 10 of Article VII of the Constitution of Virginia. For the avoidance of doubt, Xxxxxx and without limitation of Seller’s obligations pursuant to Section 12, Seller acknowledges and agrees that all of the payment obligations of Purchaser in this Agreement are expressly conditioned upon Purchaser’s receipt of Services rendered by Seller.

Pledge of Credit. Seller shall not pledge Purchaser’s credit or make it a guarantor of payment or surety for any contract, debt, obligation, judgment, lien or any form of indebtedness. This Agreement shall not constitute a pledge of the full faith and credit of Purchaser in violation of Section 10 of Article X of the Constitution of Virginia or a bond or debt of Purchaser within the meaning of Section 10 of Article VII of the Constitution of Virginia. For the avoidance of doubt, Xxxxxx Seller acknowledges and agrees that all of the payment obligations of Purchaser in this Agreement are expressly conditioned upon Purchaser’s receipt of Services rendered by Seller.