Common use of Relevant Parties’ obligations Clause in Contracts

Relevant Parties’ obligations. Each of the Relevant Parties being party to this Agreement agrees and consents to be bound by this Agreement notwithstanding that any other Relevant Party which was intended to sign or be bound may not do so or be effectually bound and notwithstanding that this Agreement may be invalid or unenforceable against any of the other Relevant Parties whether or not the deficiency is known to the Bank. The Bank shall be at liberty to release any of the Relevant Parties from this Agreement and to compound with or otherwise vary the liability or to grant time and indulgence to make other arrangements with any of the Relevant Parties without prejudicing or affecting the rights and remedies of the Bank against the other Relevant Parties.

Appears in 4 contracts

Samples: Fifth Supplemental Agreement (Globus Maritime LTD), Fourth Supplemental Agreement (Globus Maritime LTD), Third Supplemental Agreement (Globus Maritime LTD)

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Relevant Parties’ obligations. Each of the Relevant Parties being party to this Agreement agrees and consents to be bound by this Agreement notwithstanding that any the other Relevant Party Parties which was were intended to sign or be bound may not do so or be effectually bound and notwithstanding that this Agreement may be invalid or unenforceable against any of the other Relevant Parties whether or not the deficiency is known to the BankFinance Parties or any of them. The Bank Finance Parties shall be at liberty to release any of the Relevant Parties from this Agreement and to compound with or otherwise vary the liability or to grant time and indulgence to make other arrangements with any of the Relevant Parties without prejudicing or affecting the rights and remedies of the Bank Finance Parties against the any other Relevant Parties.

Appears in 1 contract

Samples: Supplemental Agreement (Top Ships Inc.)

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Relevant Parties’ obligations. Each of the Relevant Parties being party to this Agreement agrees and consents to be bound by this Agreement notwithstanding that any of the other Relevant Party which was intended to sign or be bound may not do so or be effectually bound and notwithstanding that this Agreement may be invalid or unenforceable against any of the other Relevant Parties whether or not the deficiency is known to the Bank. The Bank shall be at liberty to release any of the Relevant Parties from this Agreement and to compound with or otherwise vary the liability or to grant time and indulgence to make other arrangements with any of the Relevant Parties without prejudicing or affecting the rights and remedies of the Bank against the other Relevant Parties.

Appears in 1 contract

Samples: Supplemental Agreement (Globus Maritime LTD)

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