Relationship of Borrowers. Each Borrower represents that such Borrower and its business operations receive mutual support and other benefits from the other Borrowers, and it expects to derive benefits from the extension of credit accommodations to each other Borrower by the Lenders and finds it advantageous, desirable and in its best interests to execute and deliver this Agreement and the promissory notes to the Lenders.
Relationship of Borrowers. Each Borrower represents that it expects to derive benefits from the extension of credit accommodations to the Borrowers by the Lender and finds it advantageous, desirable and in its best interests to execute and deliver this Agreement and the Note to the Lender.
Relationship of Borrowers. Borrowers jointly and severally warrant and represent to Lenders and Collateral Agent, and agree with Lenders and Collateral Agent, as follows:
Relationship of Borrowers. Parent ceases to own all of the issued and outstanding capital stock of Advanced Biotherapeutics, Inc.
Relationship of Borrowers. The liability of each of the Borrowers under this Agreement is joint and several, and absolute and unconditional, without regard to the liability of any other person, and shall not in any manner be affected by reason of the partial or complete unenforceability or invalidity of any obligations under this Agreement or other security or guaranty for any of the loans and may be enforced without requiring Bank to first resort to any other right, remedy or security that Bank may have, and that no Borrowers shall have any right of subrogation, reimbursement or indemnity whatsoever, nor any right of recourse to security for the debts and obligations of the Borrowers to Bank unless and until all of such debts and obligations have been paid in full. No delay in making demand on any one of Borrowers for satisfaction of its liability hereunder shall prejudice Bank's right to enforce such satisfaction. Bank in its reasonable discretion may, without prejudice to its rights under this Agreement, at any time or times (a) grant any one or more of Borrowers whatever financial accommodations that Bank may from time to time deem advisable, even if such Borrower might be in default in any respect under this Agreement, (b) release any obligor or Collateral or assent to any exchange of Collateral, if any, irrespective of the consideration, if any, received therefor, (c) grant any waiver or consent or forbear from exercising any right, power or privilege that Bank may have to acquire against any one or more of Borrowers, (d) grant any other indulgence to any obligor, and (e) accept any Collateral for, or other obligors upon, the obligations described herein.
Relationship of Borrowers. (i) the Loan Parties make up a related organization of various entities constituting a single economic and business enterprise so that the Loan Parties share an identity of interests such that any benefit received by any one of them benefits the others; (ii) the Loan Parties render services to or for the benefit of each other, purchase or sell and supply goods to or from or for the benefit of the others, make loans, advances and provide other financial accommodations to or for the benefit of each other; (iii) the Loan Parties have centralized accounting and legal service and common officers and directors; and (iv) while the Loan Parties operate as a single economic enterprise, nothing contained in this Section should be construed or imply that the Loan Parties are not separate legal entities. ARTICLE VI AFFIRMATIVE COVENANTS So long as the Lender has any Revolving Credit Commitment hereunder, or any Loans, Letter of Credit Obligations or any other amounts payable to the Lender hereunder
Relationship of Borrowers. 34 3.15 Status as Producers of Gas........................................34 3.16 Year 2000.........................................................34 3.17
Relationship of Borrowers. Borrowers jointly and severally represent and warrant to Lender, and agree with Lender, as set forth below in this Article.
Relationship of Borrowers. The Borrowers are engaged in related businesses operated as part of one consolidated business entity and each Borrower is directly and indirectly dependent upon each other Borrower for and in connection with their business activities and their financial resources; and each Borrower has determined, reasonably and in good faith, that such Borrower will receive substantial direct and indirect economic and financial benefits from the borrowings made under this Agreement, and such borrowings are in the best interests of such Borrower, having regard to all relevant facts and circumstances.
