Common use of Security Trustee as joint and several creditor Clause in Contracts

Security Trustee as joint and several creditor. (a) Each of the Obligors and each of the Finance Parties agree that the Security Trustee shall be the joint and several creditor (together with the relevant Finance Party) of each and every payment obligation of any Obligor towards each and any of the Finance Parties under the relevant Finance Documents and that accordingly the Security Trustee will have its own independent right to demand performance by the relevant Obligor of those obligations when due. However, any discharge of any such obligation to either of the Security Trustee or the relevant Finance Party shall, to the same extent, discharge the corresponding obligation owing to the other.

Security Trustee as joint and several creditor. (a) Each of the Obligors The Borrower and each of the Finance Creditor Parties agree agrees that the Security Trustee shall be the joint and several creditor (together with the relevant Finance Party) each other Creditor Party of each liability and every payment obligation of the Borrower towards any Obligor towards each and Creditor Party under any of the Finance Parties under the relevant Finance Documents Document, and that accordingly the Security Trustee will have its own independent right to demand performance by the relevant Obligor Borrower of those obligations when dueliabilities and obligations. However, any discharge of any such liability or obligation of the Borrower to either one of the Security Trustee or the relevant Finance another Creditor Party shall, to the same extent, discharge the corresponding liability or obligation owing to the other.

Security Trustee as joint and several creditor. (a) Each of the Obligors Obligor and each of the Finance Creditor Parties agree agrees that the Security Trustee shall be the joint and several creditor (“hoofdelijke schuldeiser”) together with the relevant Finance Party) each other Creditor Party of each liability and every payment obligation of any Obligor towards each and the Obligors (or any of the them) towards any Creditor Party under any Finance Parties under the relevant Finance Documents Document, and that accordingly the Security Trustee will have its own independent right to demand performance by the relevant Obligor Obligors of those obligations when dueliabilities and obligations. However, any discharge of any such liability or obligation of the Obligors (or any of them) to either one of the Security Trustee or the relevant Finance another Creditor Party shall, to the same extent, discharge the corresponding liability or obligation owing to the otherothers.

Security Trustee as joint and several creditor. (a) Each of the Obligors The Borrower and each of the Finance Creditor Parties agree agrees that the Security Trustee shall be the joint and several creditor (“hoofdelijke schuldeiser”) together with the relevant Finance Party) each other Creditor Party of each liability and every payment obligation of the Borrower towards any Obligor towards each and Creditor Party under any of the Finance Parties under the relevant Finance Documents Document, and that accordingly the Security Trustee will have its own independent right to demand performance by the relevant Obligor Borrower of those obligations when dueliabilities and obligations. However, any discharge of any such liability or obligation of the Borrower to either one of the Security Trustee or the relevant Finance another Creditor Party shall, to the same extent, discharge the corresponding liability or obligation owing to the other.