Common use of Pledgor Remains Liable Clause in Contracts

Pledgor Remains Liable. Anything herein to the contrary notwithstanding, (i) Pledgor shall remain liable under the Organizational Documents to the extent set forth therein and shall perform all of its duties and obligations thereunder to the same extent as if this Agreement had not been executed; (ii) the exercise by Lender of any of the rights hereunder shall not release Pledgor from any of its duties or obligations under any of the Organizational Documents; and (iii) Lender shall not have any obligation or liability under any of the Organizational Documents by reason of this Agreement, nor shall Lender be obligated to perform any of the obligations or duties of Pledgor thereunder or to take any action to collect or enforce any claim for payment assigned hereunder; provided that, upon foreclosure thereof, Lender and any other transferee of the Collateral shall take the same subject to the Organizational Documents.

Appears in 2 contracts

Samples: Pledge and Security Agreement (NNN 2003 Value Fund LLC), Pledge and Security Agreement (NNN 2003 Value Fund LLC)

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Pledgor Remains Liable. Anything herein to the contrary notwithstanding, : (ia) Pledgor shall remain liable under the Organizational Documents LLC Agreement and/or any Pledgor Agreement, to the extent set forth therein and shall therein, to perform all of its duties and obligations agreements thereunder to the same extent as if this Agreement had not been executed; ; (iib) the exercise by Lender Pledgee of any of the its rights hereunder shall not release Pledgor from any of its duties or obligations agreements under any of the Organizational DocumentsLLC Agreement and the Pledgor Agreements; and and (iiic) Lender Pledgee shall not have any obligation under the LLC Agreement or liability under any of the Organizational Documents Pledgor Agreement by reason of this Agreement, nor shall Lender Pledgee be obligated to perform any of the obligations or duties of Pledgor thereunder or to take any action to collect or enforce any claim for payment assigned hereunder; provided that, upon foreclosure thereof, Lender and any other transferee of the Collateral shall take the same subject to the Organizational Documentsthereunder.

Appears in 2 contracts

Samples: Pledge and Collateral Agreement (Bp PLC), Pledge and Collateral Agreement (Bp PLC)

Pledgor Remains Liable. Anything herein to the contrary notwithstanding, (ia) Pledgor shall remain liable under the respective Organizational Documents to the extent set forth therein and shall perform all of its respective duties and obligations thereunder to the same extent as if this Agreement had not been executed; (iib) the exercise by Mezzanine Lender of any of the rights hereunder shall not release Pledgor from any of its respective duties or obligations under any of the Organizational Documents; and (iiic) Mezzanine Lender shall not have any obligation or liability under any of the Organizational Documents by reason of this Agreement, nor shall Mezzanine Lender be obligated to perform any of the obligations or duties of Pledgor thereunder or to take any action to collect or enforce any claim for payment assigned hereunder; provided provided, however, that, upon foreclosure thereof, Mezzanine Lender and any other transferee of the Collateral shall take the same subject to the Organizational Documents.

Appears in 1 contract

Samples: Pledge and Security Agreement (Lodgian Inc)

Pledgor Remains Liable. Anything Notwithstanding anything herein to the contrary notwithstandingcontrary, (ia) each Pledgor shall remain liable under the its Organizational Documents to the extent set forth therein and shall perform all of its respective duties and obligations thereunder to the same extent as if this Agreement had not been executed; (iib) the exercise by Lender the Indenture Trustee of any of the rights hereunder shall not release any Pledgor from any of its duties or obligations under any of the Organizational Documents; and (iiic) Lender the Indenture Trustee shall not have any obligation or liability under any of the Organizational Documents by reason of this Agreement, nor shall Lender the Indenture Trustee be obligated to perform any of the obligations or duties of any Pledgor thereunder or to take any action to collect or enforce any claim for payment assigned hereunder; provided that, upon foreclosure thereofof the Pledged Interests, Lender the Indenture Trustee and any other transferee of the Collateral shall take the same subject to the Organizational Documents.

Appears in 1 contract

Samples: Pledge and Security Agreement (Pinnacle Towers III LLC)

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Pledgor Remains Liable. Anything herein Notwithstanding anything to the contrary notwithstandingcontained herein, (ia) Pledgor shall remain liable under the Organizational Documents Partnership Agreement to the extent set forth therein and shall to perform all of its duties and obligations thereunder to the same extent as if this Agreement had not been executed; , (iib) the exercise by Lender Representative of any of the its rights hereunder shall not release Pledgor from any of its duties or obligations under any of the Organizational Documents; contracts and agreements included in the Collateral, and (iiic) Lender Representative or the Lenders shall not have any obligation or liability under any of the Organizational Documents Partnership Agreement by reason of this Agreement, nor shall Lender Representative be obligated to perform any of the obligations or duties of Pledgor thereunder or to take any action to collect or enforce any claim for payment assigned hereunder; provided that, upon foreclosure thereof, Lender and any other transferee of the Collateral shall take the same subject to the Organizational Documents.

Appears in 1 contract

Samples: Pledge Agreement (Earth Biofuels Inc)

Pledgor Remains Liable. Anything herein to the contrary notwithstanding, (ia) Pledgor shall remain liable under the respective Organizational Documents to the extent set forth therein and shall perform all of its respective duties and obligations thereunder to the same extent as if this Agreement had not been executed; (iib) the exercise by Lender of any of the rights hereunder shall not release Pledgor from any of its duties or obligations under any of the Organizational Documents; and (iiic) Lender shall not have any obligation or liability under any of the Organizational Documents by reason of this Agreement, nor shall Lender be obligated to perform any of the obligations or duties of the Pledgor thereunder or to take any action to collect or enforce any claim for payment assigned hereunder; provided that, upon foreclosure thereofof the Pledged Interests, Lender and any other transferee of the Pledged Collateral shall take the same subject to the Organizational Documents.

Appears in 1 contract

Samples: Loan Agreement (Paratek Pharmaceuticals, Inc.)

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