Plurality of debtors Sample Clauses

Plurality of debtors. The co-holders shall be jointly and severally liable to the Bank for the outcome of any transaction initiated by them or by their authorised agent(s) as well as for the entire amount of any negative balance that may result from any such transaction. The Bank may therefore request that each of the co-holders repay the total of any sums due to it, no matter which holder originated the Bank debt obligation. Operating the account In the ev ent that Client co-holders have applied to open a joint and several account, said account shall operate on their joint signatures, on the joint signature of their authorised agents, on the joint signature of the authorised agents and non-represented holders, or on the signature of a joint agent. The co-holders expressly declare that they shall be jointly and severally liable to the Bank f or the outcome of any transaction initiated by them or their authorised agents as well as for repayment of any negative balance that may result from any such transaction. Each of the co-holders may, without the approv al of the other co-holders, withdraw f rom being a co-holder of the account, which shall then be automatically be transformed into an account opened in the name of the other co-holders. However, if there was a negative balance on the account on the day on which the termination takes effect, the Bank would be entitled to demand repay ment of that balance.
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Plurality of debtors. The co-holders shall be jointly and severally liable to the Bank for the outcome of any transaction initiated by them or their authorised agent(s), as well as for the entire amount of any debit balance that may result from any such transaction. The Bank may therefore request that each of the co-holders repay the total of any sums due to it, no matter which holder originated the Bank debt obligation. Operating conditions In the event that Client co-holders have applied to open a joint and several account, said account shall operate on their joint signatures, on the joint signature of their authorised agents, on the joint signature of the authorised agents and unrepresented holders, or on the signature of a joint representative. The co-holders expressly declare that they shall be jointly and severally liable to the Bank for the outcome of any transaction initiated by them or their authorised agents, as well as for repayment of any debit balance that may result from any such transaction. Without approval from the other co-holders, each co-holder may: – withdraw as a co-holder of the account, which will then automatically be transformed into an account opened in the name of the other co-holders. However, if there was a debit position on the account on the day on which the termination takes effect, the Bank would be entitled to demand repayment of this balance; – Withdraw from this Agreement, and therefore proceed to close the account. If the account shows a debit balance, the co-holders shall be held jointly and severally liable for its repayment. Otherwise, the credit balance may only be withdrawn under their joint signatures.
Sample 1Sample 2
Plurality of debtors. The co-holders shall be jointly and severally liable to the Bank for the outcome of any transaction initiated by them or their authorised agent(s), as well as for the entire amount of any debit balance that may result from any such transaction. The Bank may therefore request that each of the co-holders repay the total of any sums due to it, no matter which holder originated the Bank debt obligation. Operating conditions In the event that Client co-holders have applied to open a joint and several account, said account shall operate on their joint signatures, on the joint signature of their authorised agents, on the joint signature of the authorised agents and unrepresented holders, or on the signature of a joint representative. The co-holders expressly declare that they shall be jointly and severally liable to the Bank for the outcome of any transaction initiated by them or their authorised agents, as well as for repayment of any debit balance that may result from any such transaction. Each of the co-holders may, without the agreement of the other co-holders, withdraw from the account, which automatically becomes an account registered in the name of the other co-holder(s). However, if there was a debit position on the account on the day on which the termination takes effect, the Bank would be entitled to demand repayment of this balance.
Sample 1
Plurality of debtors. 1. Each of the Borrowers shall be Jointly and severally liable to Rabobank International for any and all amounts which Rabobank International may claim in connection with or under the Facility.
Sample 1
Plurality of debtors. The co-holders shall be jointly and severally liable to the Bank for the outcome of any transaction initiated by them or by their authorised agent(s) as well as for the entire amount of any negative balance that may result from any such transaction. The Bank may therefore request that each of the co-holders repay the total of any sums due to it, no matter which holder originated the Bank debt obligation.
Sample 1

Related to Plurality of debtors

  • Liability of Shareholders Notice is hereby given that, as provided by applicable law, the obligations of or arising out of this Agreement are not binding upon any of the shareholders of the Trust individually but are binding only upon the assets and property of the Trust and that the shareholders shall be entitled, to the fullest extent permitted by applicable law, to the same limitation on personal liability as shareholders of private corporations for profit.

  • Immunity of Shareholders, etc The Warrant Agent and the Warrantholders hereby waive and release any right, cause of action or remedy now or hereafter existing in any jurisdiction against any incorporator or any past, present or future shareholder, trustee, employee or agent of the Corporation or any successor entity on any covenant, agreement, representation or warranty by the Corporation herein.

  • Limitations of Liability of the Trustees and Shareholders A copy of the Trust's Agreement and Declaration of Trust is on file with the Secretary of the Commonwealth of Massachusetts, and notice is hereby given that this instrument is executed by the Trustees as Trustees and not individually and that the obligations of this instrument are not binding upon any of the Trustees, officers or shareholders individually but are binding only upon the assets and property of the appropriate Fund.

  • LIMITATION OF LIABILITY OF THE TRUSTEES AND SHAREHOLDERS A copy of the Agreement and Declaration of Trust of the Trust is on file with the Secretary of The Commonwealth of Massachusetts, and notice is hereby given that this instrument is executed on behalf of the Trustees of the Trust as Trustees and not individually and that the obligations of this instrument are not binding upon any of the Trustees or shareholders individually but are binding only upon the assets and property of the Fund.

  • Non-Liability of Trustees and Shareholders Any obligation of Trust hereunder shall be binding only upon the assets of Trust (or the applicable Fund thereof) and shall not be binding upon any Trustee, officer, employee, agent or Shareholder of Trust. Neither the authorization of any action by the Trustees or Shareholders of Trust nor the execution of this Agreement on behalf of Trust shall impose any liability upon any Trustee or any Shareholder.

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