Common use of Recourse to other security Clause in Contracts

Recourse to other security. The Creditors shall not be obliged to make any claim or demand or to resort to any Security Document or other means of payment now or hereafter held by or available to it for enforcing this Agreement or any of the Security Documents against any Borrower or any other person liable and no action taken or omitted by any Creditor in connection with any such Security Document or other means of payment will discharge, reduce, prejudice or affect the liability of the Borrowers under this Agreement and the Security Documents to which any of them is, or is to be, a party.

Appears in 15 contracts

Samples: Agreement (Aegean Marine Petroleum Network Inc.), Agreement (Aegean Marine Petroleum Network Inc.), Corporations and Companies (Aegean Marine Petroleum Network Inc.)

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Recourse to other security. The Creditors shall not be obliged to make any claim or demand or to resort to any Security Document or other means of payment now or hereafter held by or available to it for enforcing this Agreement or any of the Security Documents against any a Borrower or any other person liable and no action taken or omitted by any Creditor in connection with any such Security Document or other means of payment will discharge, reduce, prejudice or affect the liability of the Borrowers under this Agreement and the Security Documents to which any either of them is, or is to be, a party.

Appears in 4 contracts

Samples: Supplemental Agreement (Diana Shipping Inc.), Loan Agreement (Diana Shipping Inc.), Agreement (DryShips Inc.)

Recourse to other security. The Creditors shall not be obliged to make any claim or demand or to resort to any Security Document or other means of payment now or hereafter held by or available to it for enforcing this Agreement or any of the Security Documents against any Borrower or any other person liable and no action taken or omitted by any Creditor in connection with any such Security Document or other means of payment will discharge, reduce, prejudice or affect the liability of the Borrowers under this Agreement and the Security Documents to which any of them isare, or is are to be, a party.

Appears in 1 contract

Samples: Loan Agreement (Mc Shipping Inc)

Recourse to other security. The Creditors shall not be obliged to make any claim or demand or to resort to any Security Document or other means of payment now or hereafter held by or available to it for enforcing this Agreement or any of the Security Documents against any a Borrower or any other person liable and no action taken or omitted by any Creditor in connection with any such Security Document or other means of payment will discharge, reduce, prejudice or affect the liability of the Borrowers under this Agreement and the Security Documents to which any of them is, or is to be, a party.

Appears in 1 contract

Samples: Loan Agreement (Poseidon Containers Holdings Corp.)

Recourse to other security. The Creditors shall not be obliged to make any claim or demand or to resort to any Security Document security or other means of payment now or hereafter held by or available to it them for enforcing this Agreement or any of the Security Documents against any the Borrower or any other person liable and no action taken or omitted by any Creditor in connection with any such Security Document security or other means of payment will discharge, reduce, prejudice or affect the liability of the Borrowers Borrower under this Agreement and the Security Documents to which any of them is, or is to be, a party.

Appears in 1 contract

Samples: Loan Agreement (StealthGas Inc.)

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Recourse to other security. The Creditors shall not be obliged to make any claim or demand or to resort to any Security Document or other means of payment now or hereafter held by or available to it for enforcing this Agreement or any of the Security Documents against any Borrower or any other person liable and no action taken or omitted by any Creditor in connection with any such Security Document or other means of payment will discharge, reduce, prejudice or affect the liability of 77 the Borrowers under this Agreement and the Security Documents to which any of them is, or is to be, a party.

Appears in 1 contract

Samples: Tenth Supplemental Agreement (Aegean Marine Petroleum Network Inc.)

Recourse to other security. 92 The Creditors shall not be obliged to make any claim or demand or to resort to any Security Document security or other means of payment now or hereafter held by or available to it them for enforcing this Agreement or any of the Security Documents against any the Borrower or any other person liable and no action taken or omitted by any Creditor in connection with any such Security Document security or other means of payment will discharge, reduce, prejudice or affect the liability of the Borrowers Borrower under this Agreement and the Security Documents to which any of them is, or is to be, a party.

Appears in 1 contract

Samples: Loan Agreement (StealthGas Inc.)

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