Rights and Obligations of Finance Parties. (a) The rights and obligations of each of the Finance Parties under the Finance Documents are several. Failure of any Finance Party to observe and perform its obligations under any Finance Document shall neither: (i) result in any other non‑defaulting Finance Party incurring any liability whatsoever; nor (ii) relieve the Trust or any other Finance Party from their respective obligations under the Finance Documents. (b) Notwithstanding any other provision of any Finance Document, the interests of each Finance Party are several and the total amounts outstanding at any time under the Finance Documents and due to each Finance Party constitute separate and independent debts.
Appears in 2 contracts
Samples: Facility Agreement, Facility Agreement
Rights and Obligations of Finance Parties. (a) 1. The rights and obligations of each of the Finance Parties under the Finance Documents are several. Failure of any Finance Party to observe and perform its obligations under any Finance Document shall neither:
neither (ia) result in any other non‑defaulting Finance Party incurring any liability whatsoever; nor
, nor (iib) relieve the Trust Borrower or any other Finance Party from their respective obligations under the Finance Documents.
(b) 2. Notwithstanding any other provision of any Finance Document, the interests of each Finance Party are several and the total amounts outstanding at any time under the Finance Documents and due to each Finance Party constitute separate and independent debts.
Appears in 1 contract
Samples: Facility Agreement (Ask Asa)
Rights and Obligations of Finance Parties. (a) 3.3.1 The rights and obligations of each of the Finance Parties under the Finance Documents are several. Failure of any Finance Party to observe and perform its obligations under any Finance Document shall neither:
(ia) result in any other non‑defaulting Finance Party incurring any liability whatsoever; nor
(iib) relieve the Trust Borrower, the WCP Borrowers or any other Finance Party from their respective obligations under the Finance Documents.
(b) 3.3.2 Notwithstanding any other provision of any Finance Document, the interests of each Finance Party are several and the total amounts outstanding at any time under the Finance Documents and due to each Finance Party constitute separate and independent debts.
Appears in 1 contract
Samples: Facilities Agreement (Chirex Inc)
Rights and Obligations of Finance Parties. (a) The rights and obligations of each of the Finance Parties under the Finance Documents are severalseveral and the total amounts outstanding at any time under the Finance Documents constitute separate and independent debts. Failure of any a Finance Party to observe and perform its obligations under any Finance Document shall neither:
(ia) result in any other non‑defaulting Finance Party incurring any liability whatsoever; nor
(iib) relieve the Trust Borrower or any other Finance Party from their respective obligations under the Finance Documents.
(b) Notwithstanding any other provision of any Finance Document, the interests of each Finance Party are several and the total amounts outstanding at any time under the Finance Documents and due to each Finance Party constitute separate and independent debts.
Appears in 1 contract
Samples: Coal and Capex Facility Agreement (Edison Mission Energy)
Rights and Obligations of Finance Parties. (a) 3.3.1 The rights and obligations of each of the Banks and other Finance Parties under the Finance Documents are several. Failure of any a Bank or other Finance Party to observe and perform its respective obligations under any Finance Document shall neither:
(ia) result in any other non‑defaulting Finance Party incurring any liability whatsoever; nor
(iib) relieve the Trust any Obligor or any other Finance Party from their respective obligations under the Finance Documents.
(b) 3.3.2 Notwithstanding any other provision of any Finance Document, the interests of each Finance Party are several and the total amounts outstanding at any time under the Finance Documents and due to each Finance Party constitute separate and independent debts. Accordingly, as regards each Bank and its participation in an Advance the amount of principal advanced by that Bank will constitute a separate and independent debt owed to it.
Appears in 1 contract
Samples: Term Loan Agreement (Octel Corp)
Rights and Obligations of Finance Parties. (a) 3.3.1 The rights and obligations of each of the Finance Parties under the Finance Documents are several. Failure of any Finance Party to observe and perform its obligations under any Finance Document shall neither:neither:-
(ia) result in any other non‑defaulting Finance Party incurring any liability whatsoever; nor
(iib) relieve the Trust Borrower or any other Finance Party from their respective obligations under the Finance Documents.
(b) 3.3.2 Notwithstanding any other provision of any Finance Document, the interests of each Finance Party are several and the total amounts outstanding at any time under the Finance Documents and due to each Finance Party constitute separate and independent debts.
Appears in 1 contract
Samples: Facilities Agreement (Chirex Inc)