Common use of Primary Obligations Clause in Contracts

Primary Obligations. The obligations and liabilities of each Person included in the term “Borrower” shall be primary, direct and immediate, shall not be subject to any counterclaim, recoupment, set off, reduction or defense based upon any claim that such Person may have against any one or more of the other Persons included in the term “Borrower”, Bank and/or any other guarantor and shall not be conditional or contingent upon pursuit or enforcement by Bank of any remedies it may have against Persons included in the term “Borrower” with respect to this Agreement, or any of the other Loan Documents, whether pursuant to the terms thereof or by operation of law. Without limiting the generality of the foregoing, Bank shall not be required to make any demand upon any of the Persons included in the term “Borrower”, or to sell the Collateral or otherwise pursue, enforce or exhaust its or their remedies against the Persons included in the term “Borrower” or the Collateral either before, concurrently with or after pursuing or enforcing its rights and remedies hereunder. Any one or more successive or concurrent actions or proceedings may be brought against each Person included in the term “Borrower”, either in the same action, if any, brought against any one or more of the Persons included in the term “Borrower” or in separate actions or proceedings, as often as Bank may deem expedient or advisable. Without limiting the foregoing, it is specifically understood that any modification, limitation or discharge of any of the liabilities or obligations of any one or more of the Persons included in the term “Borrower”, any other guarantor or any obligor under any of the Loan Documents, arising out of, or by virtue of, any bankruptcy, arrangement, reorganization or similar proceeding for relief of debtors under federal or state law initiated by or against any one or more of the Persons included in the term “Borrower”, in their respective capacities as borrowers and guarantors under this Agreement, or under any of the Loan Documents shall not modify, limit, lessen, reduce, impair, discharge, or otherwise affect the liability of any other Borrower under this Agreement in any manner whatsoever, and this Agreement shall remain and continue in full force and effect. It is the intent and purpose of this Agreement that each Person included in the term “Borrower” shall and does hereby waive all rights and benefits which might accrue to any other guarantor by reason of any such proceeding, and the Persons included in the term “Borrower” agree that they shall be liable for the full amount of the obligations and liabilities under this Agreement regardless of, and irrespective to, any modification, limitation or discharge of the liability of any one or more of the Persons included in the term “Borrower”, any other guarantor or any other obligor under any of the Loan Documents, that may result from any such proceedings.

Primary Obligations. The obligations and liabilities of each Person included in the term “BorrowerBorrowers” shall be primary, direct and immediate, shall not be subject to any counterclaim, recoupment, set off, reduction or defense based upon any claim that such Person may have against any one or more of the other Persons included in the term “BorrowerBorrowers”, Bank and/or any other guarantor and shall not be conditional or contingent upon pursuit or enforcement by Bank of any remedies it may have against Persons included in the term “BorrowerBorrowers” with respect to this Agreement, or any of the other Loan Documents, whether pursuant to the terms thereof or by operation of law. Without limiting the generality of the foregoing, Bank shall not be required to make any demand upon any of the Persons included in the term “BorrowerBorrowers”, or to sell the Collateral or otherwise pursue, enforce or exhaust its or their remedies against the Persons included in the term “BorrowerBorrowers” or the Collateral either before, concurrently with or after pursuing or enforcing its rights and remedies hereunder. Any one or more successive or concurrent actions or proceedings may be brought against each Person included in the term “BorrowerBorrowers”, either in the same action, if any, brought against any one or more of the Persons included in the term “BorrowerBorrowers” or in separate actions or proceedings, as often as Bank may deem expedient or advisable. Without limiting the foregoing, it is specifically understood that any modification, limitation or discharge of any of the liabilities or obligations of any one or more of the Persons included in the term “BorrowerBorrowers”, any other guarantor or any obligor under any of the Loan Documents, arising out of, or by virtue of, any bankruptcy, arrangement, reorganization or similar proceeding for relief of debtors under federal or state law initiated by or against any one or more of the Persons included in the term “BorrowerBorrowers”, in their respective capacities as borrowers and guarantors under this Agreement, or under any of the Loan Documents shall not modify, limit, lessen, reduce, impair, discharge, or otherwise affect the liability of any other Borrower under this Agreement in any manner whatsoever, and this Agreement shall remain and continue in full force and effect. It is the intent and purpose of this Agreement that each Person included in the term “BorrowerBorrowers” shall and does hereby waive all rights and benefits which might accrue to any other guarantor by reason of any such proceeding, and the Persons included in the term “BorrowerBorrowers” agree that they shall be liable for the full amount of the obligations and liabilities under this Agreement regardless of, and irrespective to, any modification, limitation or discharge of the liability of any one or more of the Persons included in the term “BorrowerBorrowers”, any other guarantor or any other obligor under any of the Loan Documents, that may result from any such proceedings.

Primary Obligations. The obligations and liabilities of each Person included in the term “Borrower” shall be primary, direct and immediate, shall not be subject to any counterclaim, recoupment, set off, reduction or defense based upon any claim that such Person may have against any one or more of the other Persons included in the term “Borrower”, Bank Agent, any Lender and/or any other guarantor and shall not be conditional or contingent upon pursuit or enforcement by Bank Agent and Lenders of any remedies it they may have against Persons included in the term “Borrower” with respect to this Agreement, or any of the other Loan Documents, whether pursuant to the terms thereof or by operation of law. Without limiting the generality of the foregoing, Bank neither Agent nor any Lender shall not be required to make any demand upon any of the Persons included in the term “Borrower”, or to sell the Collateral or otherwise pursue, enforce or exhaust its or their remedies against the Persons included in the term “Borrower” or the Collateral either before, concurrently with or after pursuing or enforcing its rights and remedies hereunder. Any one or more successive or concurrent actions or proceedings may be brought against each Person included in the term “Borrower”, either in the same action, if any, brought against any one or more of the Persons included in the term “Borrower” or in separate actions or proceedings, as often as Bank Agent or Lenders may deem expedient or advisable. Without limiting the foregoing, it is specifically understood that any modification, limitation or discharge of any of the liabilities or obligations of any one or more of the Persons included in the term “Borrower”, any other guarantor or any obligor under any of the Loan Documents, arising out of, or by virtue of, any bankruptcy, arrangement, reorganization or similar proceeding for relief of debtors under federal or state law Law initiated by or against any one or more of the Persons included in the term “Borrower”, in their respective capacities as borrowers and guarantors under this Agreement, or under any of the Loan Documents shall not modify, limit, lessen, reduce, impair, discharge, or otherwise affect the liability of any other Borrower under this Agreement in any manner whatsoever, and this Agreement shall remain and continue in full force and effect. It is the intent and purpose of this Agreement that each Person included in the term “Borrower” shall and does hereby waive all rights and benefits which might accrue to any other guarantor by reason of any such proceeding, and the Persons included in the term “Borrower” agree that they shall be liable for the full amount of the obligations and liabilities under this Agreement regardless of, and irrespective to, any modification, limitation or discharge of the liability of any one or more of the Persons included in the term “Borrower”, any other guarantor or any other obligor under any of the Loan Documents, that may result from any such proceedings.

Primary Obligations. The obligations and liabilities of each Person included in the term “BorrowerBorrowers” shall be primary, direct and immediate, shall not be subject to any counterclaim, recoupment, set off, reduction or defense based upon any claim that such Person may have against any one or more of the other Persons included in the term “Borrower”, Borrowers,” Bank and/or any other guarantor and shall not be conditional or contingent upon pursuit or enforcement by Bank of any remedies it may have against Persons included in the term “BorrowerBorrowers” with respect to this Agreement, or any of the other Loan Documents, whether pursuant to the terms thereof or by operation of law. Without limiting the generality of the foregoing, Bank shall not be required to make any demand upon any of the Persons included in the term “Borrower”, Borrowers,” or to sell the Collateral or otherwise pursue, enforce or exhaust its or their remedies against the Persons included in the term “BorrowerBorrowers” or the Collateral either before, concurrently with or after pursuing or enforcing its rights and remedies hereunder. Any one or more successive or concurrent actions or proceedings may be brought against each Person included in the term “Borrower”, Borrowers,” either in the same action, if any, brought against any one or more of the Persons included in the term “BorrowerBorrowers” or in separate actions or proceedings, as often as Bank may deem expedient or advisable. Without limiting the foregoing, it is specifically understood that any modification, limitation or discharge of any of the liabilities or obligations of any one or more of the Persons included in the term “Borrower”, Borrowers,” any other guarantor or any obligor under any of the Loan Documents, arising out of, or by virtue of, any bankruptcy, arrangement, reorganization or similar proceeding for relief of debtors under federal or state law initiated by or against any one or more of the Persons included in the term “Borrower”, Borrowers,” in their respective capacities as borrowers and guarantors under this Agreement, or under any of the Loan Documents shall not modify, limit, lessen, reduce, impair, discharge, or otherwise affect the liability of any other Borrower under this Agreement in any manner whatsoever, and this Agreement shall remain and continue in full force and effect. It is the intent and purpose of this Agreement that each Person included in the term “BorrowerBorrowers” shall and does hereby waive all rights and benefits which might accrue to any other guarantor by reason of any such proceeding, and the Persons included in the term “BorrowerBorrowers” agree that they shall be liable for the full amount of the obligations and liabilities under this Agreement regardless of, and irrespective to, any modification, limitation or discharge of the liability of any one or more of the Persons included in the term “Borrower”, Borrowers,” any other guarantor or any other obligor under any of the Loan Documents, that may result from any such proceedings.

Primary Obligations. The obligations and liabilities of each Person included in the term “"Borrower” " shall be primary, direct and immediate, shall not be subject to any counterclaim, recoupment, set off, reduction or defense based upon any claim that such Person may have against any one or more of the other Persons included in the term “"Borrower”", Bank and/or any other guarantor and shall not be conditional or contingent upon pursuit or enforcement by Bank of any remedies it may have against Persons included in the term “"Borrower” " with respect to this Agreement, or any of the other Loan Documents, whether pursuant to the terms thereof or by operation of law. Without limiting the generality of the foregoing, Bank shall not be required to make any demand upon any of the Persons included in the term “"Borrower”", or to sell the Collateral or otherwise pursue, enforce or exhaust its or their remedies against the Persons included in the term “"Borrower” " or the Collateral either before, concurrently with or after pursuing or enforcing its rights and remedies hereunder. Any one or more successive or concurrent actions or proceedings may be brought against each Person included in the term “"Borrower”", either in the same action, if any, brought against any one or more of the Persons included in the term “"Borrower” " or in separate actions or proceedings, as often as Bank may deem expedient or advisable. Without limiting the foregoing, it is specifically understood that any modification, limitation or discharge of any of the liabilities or obligations of any one or more of the Persons included in the term “"Borrower”", any other guarantor or any obligor under any of the Loan Documents, arising out of, or by virtue of, any bankruptcy, arrangement, reorganization or similar proceeding for relief of debtors under federal or state law initiated by or against any one or more of the Persons included in the term “"Borrower”", in their respective capacities as borrowers and guarantors under this Agreement, or under any of the Loan Documents shall not modify, limit, lessen, reduce, impair, discharge, or otherwise affect the liability of any other Borrower under this Agreement in any manner whatsoever, and this Agreement shall remain and continue in full force and effect. It is the intent and purpose of this Agreement that each Person included in the term “"Borrower” " shall and does hereby waive all rights and benefits which might accrue to any other guarantor by reason of any such proceeding, and the Persons included in the term “"Borrower” " agree that they shall be liable for the full amount of the obligations and liabilities under this Agreement regardless of, and irrespective to, any modification, limitation or discharge of the liability of any one or more of the Persons included in the term “"Borrower”", any other guarantor or any other obligor under any of the Loan Documents, that may result from any such proceedings.

Primary Obligations. The obligations and liabilities of each Person included in the term “"Borrower” " shall be primary, direct and immediate, shall not be subject to any counterclaim, recoupment, set off, reduction or defense based upon any claim that such Person may have against any one or more of the other Persons included in the term “"Borrower”", Bank PFG and/or any other guarantor and shall not be conditional or contingent upon pursuit or enforcement by Bank PFG of any remedies it may have against Persons included in the term “"Borrower” " with respect to this Agreement, or any of the other Loan Documents, whether pursuant to the terms thereof or by operation of law. Without limiting the generality of the foregoing, Bank PFG shall not be required to make any demand upon any of the Persons included in the term “"Borrower”", or to sell the Collateral or otherwise pursue, enforce or exhaust its or their remedies against the Persons included in the term “"Borrower” " or the Collateral either before, concurrently with or after pursuing or enforcing its rights and remedies hereunder. Any one or more successive or concurrent actions or proceedings may be brought against each Person included in the term “"Borrower”", either in the same action, if any, brought against any one or more of the Persons included in the term “"Borrower” " or in separate actions or proceedings, as often as Bank PFG may deem expedient or advisable. Without limiting the foregoing, it is specifically understood that any modification, limitation or discharge of any of the liabilities or obligations of any one or more of the Persons included in the term “"Borrower”", any other guarantor or any obligor under any of the Loan Documents, arising out of, or by virtue of, any bankruptcy, arrangement, reorganization or similar proceeding for relief of debtors under federal or state law initiated by or against any one or more of the Persons included in the term “"Borrower”", in their respective capacities as borrowers Borrower and guarantors under this Agreement, or under any of the Loan Documents shall not modify, limit, lessen, reduce, impair, discharge, or otherwise affect the liability of any other Borrower under this Agreement in any manner whatsoever, and this Agreement shall remain and continue in full force and effect. It is the intent and purpose of this Agreement that each Person included in the term “"Borrower” " shall and does hereby waive all rights and benefits which might accrue to any other guarantor by reason of any such proceeding, and the Persons included in the term “"Borrower” " agree that they shall be liable for the full amount of the obligations and liabilities under this Agreement regardless of, and irrespective to, any modification, limitation or discharge of the liability of any one or more of the Persons included in the term “"Borrower”", any other guarantor or any other obligor under any of the Loan Documents, that may result from any such proceedings.

Primary Obligations. The obligations and liabilities of each Person included in the term “BorrowerIssuers” shall be primary, direct and immediate, shall not be subject to any counterclaim, recoupment, set off, reduction or defense based upon any claim that such Person may have against any one or more of the other Persons included in the term “BorrowerIssuers”, Bank Note Agent, any Purchaser and/or any other guarantor (including, without limitation, any Guarantors) and shall not be conditional or contingent upon pursuit or enforcement by Bank Note Agent or any Purchaser of any remedies it may have against Persons included in the term “BorrowerIssuers” with respect to this Agreement, or any of the other Loan Note Documents, whether pursuant to the terms thereof or by operation of law. Without limiting the generality of the foregoing, Bank neither Note Agent nor any Purchaser shall not be required to make any demand upon any of the Persons included in the term “BorrowerIssuers”, or to sell the Collateral or otherwise pursue, enforce or exhaust its or their remedies against the Persons included in the term “BorrowerIssuers” or the Collateral either before, concurrently with or after pursuing or enforcing its rights and remedies hereunder. Any one or more successive or concurrent actions or proceedings may be brought against each Person included in the term “BorrowerIssuers”, either in the same action, if any, brought against any one or more of the Persons included in the term “BorrowerIssuers” or in separate actions or proceedings, as often as Bank Note Agent or any Purchaser may deem expedient or advisable. Without limiting the foregoing, it is specifically understood that any modification, limitation or discharge of any of the liabilities or obligations of any one or more of the Persons included in the term “BorrowerIssuers”, any other guarantor (including, without limitation, any Guarantor) or any obligor under any of the Loan Note Documents, arising out of, or by virtue of, any bankruptcy, arrangement, reorganization or similar proceeding for relief of debtors under federal or state law initiated by or against any one or more of the Persons included in the term “BorrowerIssuers”, in their respective capacities as borrowers issuers and guarantors under this Agreement, or under any of the Loan other Note Documents shall not modify, limit, lessen, reduce, impair, discharge, or otherwise affect the liability of any other Borrower Issuer under this Agreement or the other Note Documents in any manner whatsoever, and this Agreement and the other Note Documents shall remain and continue in full force and effect. It is the intent and purpose of this Agreement that each Person included in the term “BorrowerIssuers” shall and does hereby waive all rights and benefits which might accrue to any other guarantor (including, without limitation, any Guarantor) by reason of any such proceeding, and the Persons included in the term “BorrowerIssuers” agree that they shall be liable for the full amount of the obligations and liabilities under this Agreement and the other Note Documents (including, without limitation, the Obligations) regardless of, and irrespective to, any modification, limitation or discharge of the liability of any one or more of the Persons included in the term “BorrowerIssuers”, any other guarantor (including, without limitation, any Guarantor) or any other obligor under any of the Loan Note Documents, that may result from any such proceedings.

Primary Obligations. The obligations and liabilities of each Person included in the term “"Borrower” ", as guarantor under this Section shall be primary, direct and immediate, shall not be subject to any counterclaim, recoupment, set off, reduction or defense based upon any claim that such Person may have against any one or more of the other Persons included in the term “"Borrower”", Bank and/or any other guarantor and shall not be conditional or contingent upon pursuit or enforcement by Bank of any remedies it may have against Persons included in the term “"Borrower” " with respect to this Agreement, Agreement or any of the other Loan Documents, whether pursuant to the terms thereof or by operation of law. Without limiting the generality of the foregoing, Bank shall not be required to make any demand upon any of the Persons included in the term “"Borrower”", or to sell the Collateral or otherwise pursue, enforce or exhaust its or their remedies against the Persons included in the term “"Borrower” " or the Collateral either before, concurrently with or after pursuing or enforcing its rights and remedies hereunder. Any one or more successive or concurrent actions or proceedings may be brought against each Person included in the term “"Borrower”, " under this Section either in the same action, if any, brought against any one or more of the Persons included in the term “"Borrower” " or in separate actions or proceedings, as often as Bank may deem expedient or advisable. Without limiting the foregoing, it is specifically understood that any modification, limitation or discharge of any of the liabilities or obligations of any one or more of the Persons included in the term “"Borrower”", any other guarantor or any obligor under any of the Loan Documents, arising out of, or by virtue of, any bankruptcy, arrangement, reorganization or similar proceeding for relief of debtors under federal or state law initiated by or against any one or more of the Persons included in the term “"Borrower”", in their respective capacities as borrowers and guarantors under this AgreementSection, or under any of the Loan Documents shall not modify, limit, lessen, reduce, impair, discharge, or otherwise affect the liability of any other each Borrower under this Agreement Section in any manner whatsoever, and this Agreement Section shall remain and continue in full force and effect. It is the intent and purpose of this Agreement Section that each Person included in the term “"Borrower” " shall and does hereby waive all rights and benefits which might accrue to any other guarantor by reason of any such proceeding, and the Persons included in the term “"Borrower” " agree that they shall be liable for the full amount of the obligations and liabilities under this Agreement Section regardless of, and irrespective to, any modification, limitation or discharge of the liability of any one or more of the Persons included in the term “"Borrower”", any other guarantor or any other obligor under any of the Loan Documents, that may result from any such proceedings.

Primary Obligations. The obligations and liabilities of each Person included in the term “"Borrower” ", as guarantor under this paragraph shall be primary, direct and immediate, shall not be subject to any counterclaim, recoupment, set off, reduction or defense based upon any claim that such Person may have against any one or more of the other Persons included in the term “"Borrower”", Bank Silicon and/or any other guarantor and shall not be conditional or contingent upon pursuit or SILICON VALLEY BANK AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT -------------------------------------------------------------------------------- enforcement by Bank Silicon of any remedies it may have against Persons included in the term “"Borrower” " with respect to this Agreement, or any of the other Loan Documents, whether pursuant to the terms thereof or by operation of law. Without limiting the generality of the foregoing, Bank Silicon shall not be required to make any demand upon any of the Persons included in the term “"Borrower”", or to sell the Collateral or otherwise pursue, enforce or exhaust its or their remedies against the Persons included in the term “"Borrower” " or the Collateral either before, concurrently with or after pursuing or enforcing its rights and remedies hereunder. Any one or more successive or concurrent actions or proceedings may be brought against each Person included in the term “"Borrower”" under this paragraph, either in the same action, if any, brought against any one or more of the Persons included in the term “"Borrower” " or in separate actions or proceedings, as often as Bank Silicon may deem expedient or advisable. Without limiting the foregoing, it is specifically understood that any modification, limitation or discharge of any of the liabilities or obligations of any one or more of the Persons included in the term “"Borrower”", any other guarantor or any obligor under any of the Loan Financing Documents, arising out of, or by virtue of, any bankruptcy, arrangement, reorganization or similar proceeding for relief of debtors under federal or state law initiated by or against any one or more of the Persons included in the term “"Borrower”", in their respective capacities as borrowers and guarantors under this Agreementparagraph, or under any of the Loan Financing Documents shall not modify, limit, lessen, reduce, impair, discharge, or otherwise affect the liability of any other each Borrower under this Agreement paragraph in any manner whatsoever, and this Agreement paragraph shall remain and continue in full force and effect. It is the intent and purpose of this Agreement paragraph that each Person included in the term “"Borrower” " shall and does hereby waive all rights and benefits which might accrue to any other guarantor by reason of any such proceeding, and the Persons included in the term “"Borrower” " agree that they shall be liable for the full amount of the obligations and liabilities under this Agreement paragraph regardless of, and irrespective to, any modification, limitation or discharge of the liability of any one or more of the Persons included in the term “"Borrower”", any other guarantor or any other obligor under any of the Loan Documents, that may result from any such proceedings.

Primary Obligations. The obligations and liabilities of each Person included in the term “Borrower” of Acuity and eXegenics under this Agreement shall be primary, direct and immediate, shall not be subject to any counterclaim, recoupment, set off, reduction or defense based upon any claim that such Person Acuity and eXegenics may have against any one or more of the other Persons included in the term “Borrower”, Bank Lender and/or any other guarantor and shall not be conditional or contingent upon pursuit or enforcement by Bank Lender of any remedies it may have against Persons included in the term “Borrower” Acuity and eXegenics with respect to this Agreement, or any of the other Loan Documents, whether pursuant to the terms hereof or thereof or by operation of law. Without limiting the generality of the foregoing, Bank Lender shall not be required to make any demand upon any of the Persons included in the term “Borrower”either Acuity or eXegenics, or to sell the Collateral or otherwise pursue, enforce or exhaust its or their remedies against the Persons included in the term “Borrower” either Acuity or eXegenics or the Collateral either either, before, concurrently with or after pursuing or enforcing its rights and remedies hereunder. Any one or more successive or concurrent actions or proceedings may be brought against each Person included in the term “Borrower”either Acuity and eXegenics under this Section 2.10, either in the same action, if any, brought against any one or more of the Persons included in the term “Borrower” Acuity and eXegenics or in separate actions or proceedings, as often as Bank Lender may deem expedient or advisable. Without limiting the foregoing, it is specifically understood that any modification, limitation or discharge of any of the liabilities or obligations of any one either Acuity or more of the Persons included in the term “Borrower”eXegenics, any other guarantor or any obligor under any of the Loan Documents, arising out of, or by virtue of, any bankruptcy, arrangement, reorganization or similar proceeding for relief of debtors under federal or state law initiated by or against any one or more of the Persons included in the term “Borrower”Acuity and eXegenics, in their respective capacities as borrowers and guarantors under this Agreementa Borrower, or under any of the Loan Documents shall not modify, limit, lessen, reduce, impair, discharge, or otherwise affect the liability of any other each Borrower under this Agreement in any manner whatsoever, and this Agreement Section 2.10 shall remain and continue in full force and effect. It is the intent and purpose of this Agreement Section 2.10 that each Person included in the term “Borrower” of Acuity and eXegenics shall and does hereby waive all rights and benefits which might accrue to any other guarantor by reason of any such proceeding, Acuity and the Persons included in the term “Borrower” eXegenics each agree that they shall be liable for the full amount of the obligations and liabilities under this Agreement Section 2.10 regardless of, and irrespective toof, any modification, limitation or discharge of the liability of any one or more of the Persons included in the term “Borrower”either Acuity or eXegenics, any other guarantor or any other obligor under any of the Loan Documents, that may result from any such proceedings.

Primary Obligations. The obligations and liabilities of each Person included in the term “Borrower” ”, as guarantor under this paragraph shall be primary, direct and immediate, shall not be subject to any counterclaim, recoupment, set off, reduction or defense based upon any claim that such Person may have against any one or more of the other Persons included in the term “Borrower”, Bank Silicon and/or any other guarantor and shall not be conditional or contingent upon pursuit or enforcement by Bank Silicon of any remedies it may have against Persons included in the term “Borrower” with respect to this Agreement, or any of the other Loan Documents, whether pursuant to the terms thereof or by operation of law. Without limiting the generality of the foregoing, Bank Silicon shall not be required to make any demand upon any of the Persons included in the term “Borrower”, or to sell the Collateral or otherwise pursue, enforce or exhaust its or their remedies against the Persons included in the term “Borrower” or the Collateral either before, concurrently with or after pursuing or enforcing its rights and remedies hereunder. Any one or more successive or concurrent actions or proceedings may be brought against each Person included in the term “Borrower”” under this paragraph, either in the same action, if any, brought against any one or more of the Persons included in the term “Borrower” or in separate actions or proceedings, as often as Bank Silicon may deem expedient or advisable. Without limiting the foregoing, it is specifically understood that any modification, limitation or discharge of any of the liabilities or obligations of any one or more of the Persons included in the term “Borrower”, any other guarantor or any obligor under any of the Loan Documents, arising out of, or by virtue of, any bankruptcy, arrangement, reorganization or similar proceeding for relief of debtors under federal or state law initiated by or against any one or more of the Persons included in the term “Borrower”, in their respective capacities as borrowers and guarantors under this Agreementparagraph, or under any of the Loan Documents shall not modify, limit, lessen, reduce, impair, discharge, or otherwise affect the liability of any other each Borrower under this Agreement paragraph in any manner whatsoever, and this Agreement paragraph shall remain and continue in full force and effect. It is the intent and purpose of this Agreement paragraph that each Person included in the term “Borrower” shall and does hereby waive all rights and benefits which might accrue to any other guarantor by reason of any such proceeding, and the Persons included in the term “Borrower” agree that they shall be liable for the full amount of the obligations and liabilities under this Agreement paragraph regardless of, and irrespective to, any modification, limitation or discharge of the liability of any one or more of the other Persons included in the term “Borrower”, any other guarantor or any other obligor under any of the Loan Documents, that may result from any such proceedings.

Primary Obligations. The obligations and liabilities of each Person included in the term “Borrower” ”, as guarantor under this paragraph shall be primary, direct and immediate, shall not be subject to any counterclaim, recoupment, set off, reduction or defense based upon any claim that such Person may have against any one or more of the other Persons included in the term “Borrower”, Bank Silicon and/or any other guarantor and shall not be conditional or contingent upon pursuit or enforcement by Bank Silicon of any remedies it may have against Persons included in the term “Borrower” with respect to this Agreement, or any of the other Loan Documents, whether pursuant to the terms thereof or by operation of law. Without limiting the generality of the foregoing, Bank Silicon shall not be required to make any demand upon any of the Persons included in the term “Borrower”, or to sell the Collateral or otherwise pursue, enforce or exhaust its or their remedies against the Persons included in the term “Borrower” or the Collateral either before, concurrently with or after pursuing or enforcing its rights and remedies hereunder. Any one or more successive or concurrent actions or proceedings may be brought against each Person included in the term “Borrower”” under this paragraph , either in the same action, if any, brought against any one or more of the Persons included in the term “Borrower” or in separate actions or proceedings, as often as Bank Silicon may deem expedient or advisable. Without limiting the foregoing, it is specifically understood that any modification, limitation or discharge of any of the liabilities or obligations of any one or more of the Persons included in the term “Borrower”, any other guarantor or any obligor under any of the Loan Documents, arising out of, or by virtue of, any bankruptcy, arrangement, reorganization or similar proceeding for relief of debtors under federal or state law initiated by or against any one or more of the Persons included in the term “Borrower”, in their respective capacities as borrowers and guarantors under this Agreementparagraph, or under any of the Loan Documents shall not modify, limit, lessen, reduce, impair, discharge, or otherwise affect the liability of any other each Borrower under this Agreement paragraph in any manner whatsoever, and this Agreement paragraph shall remain and continue in full force and effect. It is the intent and purpose of this Agreement paragraph that each Person included in the term “Borrower” shall and does hereby waive all rights and benefits which might accrue to any other guarantor by reason of any such proceeding, and the Persons included in the term “Borrower” agree that they shall be liable for the full amount of the obligations and liabilities under this Agreement paragraph regardless of, and irrespective to, any modification, limitation or discharge of the liability of any one or more of the other Persons included in the term “Borrower”, any other guarantor or any other obligor under any of the Loan Documents, that may result from any such proceedings.

Primary Obligations. The obligations and liabilities of each Person included in the term “"Borrower” ", as guarantor under this Section shall be primary, direct and immediate, shall not be subject to any counterclaim, recoupment, set off, reduction or defense based upon any claim that such Person may have against any one or more of the other Persons included in the term “"Borrower”", Bank and/or any other guarantor and shall not be conditional or contingent upon pursuit or enforcement by Bank of any remedies it may have against Persons included in the term “"Borrower” " with respect to this Agreement, the Equipment Term Note, the Revolving Promissory Note or any of the other Loan Documents, whether pursuant to the terms thereof or by operation of law. Without limiting the generality of the foregoing, Bank shall not be required to make any demand upon any of the Persons included in the term “"Borrower”", or to sell the Collateral or otherwise pursue, enforce or exhaust its or their remedies against the Persons included in the term “"Borrower” " or the Collateral either before, concurrently with or after pursuing or enforcing its rights and remedies hereunder. Any one or more successive or concurrent actions or proceedings may be brought against each Person included in the term “"Borrower”" under this Section, either in the same action, if any, brought against any one or more of the Persons included in the term “"Borrower” " or in separate actions or proceedings, as often as Bank may deem expedient or advisable. Without limiting the foregoing, it is specifically understood that any modification, limitation or discharge of any of the liabilities or obligations of any one or more of the Persons included in the term “"Borrower”", any other guarantor or any obligor under any of the Loan Documents, arising out of, or by virtue of, any bankruptcy, arrangement, reorganization or similar proceeding for relief of debtors under federal or state law initiated by or against any one or more of the Persons included in the term “"Borrower”", in their respective capacities as borrowers and guarantors under this AgreementSection, or under any of the Loan Documents shall not modify, limit, lessen, reduce, impair, discharge, or otherwise affect the liability of any other each Borrower under this Agreement Section in any manner whatsoever, and this Agreement Section shall remain and continue in full force and effect. It is the intent and purpose of this Agreement Section that each Person included in the term “"Borrower” " shall and does hereby waive all rights and benefits which might accrue to any other guarantor by reason of any such proceeding, and the Persons included in the term “"Borrower” " agree that they shall be liable for the full amount of the obligations and liabilities under this Agreement Section regardless of, and irrespective to, any modification, limitation or discharge of the liability of any one or more of the Persons included in the term “"Borrower”", any other guarantor or any other obligor under any of the Loan Documents, that may result from any such proceedings.

Primary Obligations. The obligations and liabilities of each Person included in the term “"Borrower” ", as guarantor under this Section 2.8 shall be primary, direct and immediate, shall not be subject to any counterclaim, recoupment, set off, reduction or defense based upon any claim that such Person may have against any one or more of the other Persons included in the term “"Borrower”", Bank and/or any other guarantor and shall not be conditional or contingent upon pursuit or enforcement by Bank of any remedies it may have against Persons included in the term “"Borrower” " with respect to this Agreement, or any of the other Loan Documents, whether pursuant to the terms thereof or by operation of law. Without limiting the generality of the foregoing, Bank shall not be required to make any demand upon any of the Persons included in the term “"Borrower”", or to sell the Collateral or otherwise pursue, enforce or exhaust its or their remedies against the Persons included in the term “"Borrower” " or the Collateral either before, concurrently with or after pursuing or enforcing its rights and remedies hereunder. Any one or more successive or concurrent actions or proceedings may be brought against each Person included in the term “"Borrower”" under this Section 2.8, either in the same action, if any, brought against any one or more of the Persons included in the term “"Borrower” " or in separate actions or proceedings, as often as Bank may deem expedient or advisable. Without limiting the foregoing, it is specifically understood that any modification, limitation or discharge of any of the liabilities or obligations of any one or more of the Persons included in the term “"Borrower”", any other guarantor or any obligor under any of the Loan Documents, arising out of, or by virtue of, any bankruptcy, arrangement, reorganization or similar proceeding for relief of debtors under federal or state law initiated by or against any one or more of the Persons included in the term “"Borrower”", in their respective capacities as borrowers and guarantors under this AgreementSection 2.8, or under any of the Loan Documents shall not modify, limit, lessen, reduce, impair, discharge, or otherwise affect the liability of any other each Borrower under this Agreement Section 2.8 in any manner whatsoever, and this Agreement Section 2.8 shall remain and continue in full force and effect. It is the intent and purpose of this Agreement Section 2.8 that each Person included in the term “"Borrower” " shall and does hereby waive all rights and benefits which might accrue to any other guarantor by reason of any such proceeding, and the Persons included in the term “"Borrower” " agree that they shall be liable for the full amount of the obligations and liabilities under this Agreement Section 2.8 regardless of, and irrespective to, any modification, limitation or discharge of the liability of any one or more of the Persons included in the term “"Borrower”", any other guarantor or any other obligor under any of the Loan Documents, that may result from any such proceedings.

Primary Obligations. The obligations and liabilities of each Person included in the term “Borrower” ”, as guarantor under this Section shall be primary, direct and immediate, shall not be subject to any counterclaim, recoupment, set off, reduction or defense based upon any claim that such Person may have against any one or more of the other Persons included in the term “Borrower”, Bank and/or any other guarantor and shall not be conditional or contingent upon pursuit or enforcement by Bank of any remedies it may have against Persons included in the term “Borrower” with respect to this Agreement, Agreement or any of the other Loan Documents, whether pursuant to the terms thereof or by operation of law. Without limiting the generality of the foregoing, Bank shall not be required to make any demand upon any of the Persons included in the term “Borrower”, or to sell the Collateral or otherwise pursue, enforce or exhaust its or their remedies against the Persons included in the term “Borrower” or the Collateral either before, concurrently with or after pursuing or enforcing its rights and remedies hereunder. Any one or more successive or concurrent actions or proceedings may be brought against each Person included in the term “Borrower”” under this Section, either in the same action, if any, brought against any one or more of the Persons included in the term “Borrower” or in separate actions or proceedings, as often as Bank may deem expedient or advisable. Without limiting the foregoing, it is specifically understood that any modification, limitation or discharge of any of the liabilities or obligations of any one or more of the Persons included in the term “Borrower”, any other guarantor or any obligor under any of the Loan Documents, arising out of, or by virtue of, any bankruptcy, arrangement, reorganization or similar proceeding for relief of debtors under federal or state law initiated by or against any one or more of the Persons included in the term “Borrower”, in their respective capacities as borrowers and guarantors under this AgreementSection, or under any of the Loan Documents shall not modify, limit, lessen, reduce, impair, discharge, or otherwise affect the liability of any other each Borrower under this Agreement Section in any manner whatsoever, and this Agreement Section shall remain and continue in full force and effect. It is the intent and purpose of this Agreement Section that each Person included in the term “Borrower” shall and does hereby waive all rights and benefits which might accrue to any other guarantor by reason of any such proceeding, and the Persons included in the term “Borrower” agree that they shall be liable for the full amount of the obligations and liabilities under this Agreement Section regardless of, and irrespective to, any modification, limitation or discharge of the liability of any one or more of the Persons included in the term “Borrower”, any other guarantor or any other obligor under any of the Loan Documents, that may result from any such proceedings.