Common use of Pledgor's Liability Not Reduced by Payments by Others Clause in Contracts

Pledgor's Liability Not Reduced by Payments by Others. No payment or payments made by Oglebay, Pledgor or any other Person or received or collected by the Collateral Agent or the Noteholders from Oglebay, Pledgor or any other Person by virtue of any action or proceeding or any set-off or appropriation or application at any time or from time to time in reduction of or in payment of the Debt shall be deemed to modify, reduce, release or otherwise affect the amount of the Debt secured by this Agreement and this Agreement shall, notwithstanding any such payment or payments (other than payments made to the Collateral Agent or the Noteholders by Pledgor or payments received or collected by the Collateral Agent or the Noteholders from Pledgor), secure the Debt up to the maximum amount of the Debt secured by this Agreement as set forth above until the Debt is indefeasibly paid in full in cash.

Pledgor's Liability Not Reduced by Payments by Others. No payment ----------------------------------------------------- or payments made by OglebayBorrower, Pledgor or any other Person or received or collected by the Collateral Agent or the Noteholders Banks from OglebayBorrower, Pledgor or any other Person by virtue of any action or proceeding or any set-off or appropriation or application at any time or from time to time in reduction of or in payment of the Debt shall be deemed to modify, reduce, release or otherwise affect the amount of the Debt secured by this Agreement and this Agreement shall, notwithstanding any such payment or payments (other than payments made to the Collateral Agent or the Noteholders Banks by Pledgor or payments received or collected by the Collateral Agent or the Noteholders Banks from Pledgor), secure the Debt up to the maximum amount of the Debt secured by this Agreement as set forth above until the Debt is indefeasibly paid in full in cash.

Pledgor's Liability Not Reduced by Payments by Others. No payment or payments made by Oglebay, Pledgor or any other Person or received or collected by the Collateral Agent or the Noteholders from Oglebay, Pledgor or any other Person by virtue of any action or proceeding or any set-off or appropriation or application at any time or from time to time tine in reduction of or in payment of the Debt shall be deemed to modify, reduce, release or otherwise affect the amount of the Debt secured by this Agreement and this Agreement shall, notwithstanding any such payment or payments (other than payments made to the Collateral Agent or the Noteholders by Pledgor or payments received or collected by the Collateral Agent or the Noteholders from Pledgor), secure the Debt up to the maximum amount of the Debt secured by this Agreement as set forth above until the Debt is indefeasibly paid in full in cash.

Pledgor's Liability Not Reduced by Payments by Others. No payment or payments made by OglebayBorrower, Pledgor or any other Person or received or collected by the Collateral Agent Agents or the Noteholders Banks from OglebayBorrower, Pledgor or any other Person by virtue of any action or proceeding or any set-off or appropriation or application at any time or from time to time in reduction of or in payment of the Debt shall be deemed to modify, reduce, release or otherwise affect the amount of the Debt secured by this Agreement and this Agreement shall, notwithstanding any such payment or payments (other than payments made to the Collateral Agent Agents or the Noteholders Banks by Pledgor or payments received or collected by the Collateral Agent Agents or the Noteholders Banks from Pledgor), secure the Debt up to the maximum amount of the Debt secured by this Agreement as set forth above until the Debt is indefeasibly paid in full in cash.

Pledgor's Liability Not Reduced by Payments by Others. No payment or ------------------------------------------------------ payments made by OglebayBorrower, Pledgor or any other Person or received or collected by the Collateral Agent Agents or the Noteholders Banks from OglebayBorrower, Pledgor or any other Person by virtue of any action or proceeding or any set-off or appropriation or application at any time or from time to time in reduction of or in payment of the Debt shall be deemed to modify, reduce, release or otherwise affect the amount of the Debt secured by this Agreement and this Agreement shall, notwithstanding any such payment or payments (other than payments made to the Collateral Agent Agents or the Noteholders Banks by Pledgor or payments received or collected by the Collateral Agent Agents or the Noteholders Banks from Pledgor), secure the Debt up to the maximum amount of the Debt secured by this Agreement as set forth above until the Debt is indefeasibly paid in full in cash.