Common use of Several Obligations; Remedies Independent Clause in Contracts

Several Obligations; Remedies Independent. The failure of any Lender to make any Loan to be made by it on the date specified therefor shall not relieve any other Lender of its obligation to make its Loan on such date, but neither any Lender nor the Administrative Agent shall be responsible for the failure of any other Lender to make a Loan to be made by such other Lender, and (except as otherwise provided in Section 4.06) no Lender shall have any obligation to the Administrative Agent or any other Lender for the failure by such Lender to make any Loan required to be made by such Lender. Anything in this Agreement to the contrary notwithstanding, each Lender hereby agrees with each other Lender that no Lender shall take any action to protect or enforce its rights arising out of this Agreement (including, without limitation, exercising any rights of off-set) without first obtaining the prior written consent of the Administrative Agent or the Majority Lenders, it being the intent of the Lenders that any such action to protect or enforce rights under this Agreement shall be taken in concert and at the direction or with the consent of the Administrative Agent or the Majority Lenders and not individually by a single Lender.

Appears in 4 contracts

Samples: Credit Agreement (Mediacom Broadband Corp), Credit Agreement (Mediacom Broadband Corp), Credit Agreement (Mediacom Capital Corp)

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Several Obligations; Remedies Independent. The failure of any Lender to make any Loan to be made by it on the date specified therefor shall not relieve any other Lender of its obligation to make its Loan on such date, but neither any Lender nor the Administrative Agent shall be responsible for the failure of any other Lender to make a Loan to be made by such other Lender, and (except as otherwise provided in Section 4.064.06 hereof) no Lender shall have any obligation to the Administrative Agent or any other Lender for the failure by such Lender to make any Loan required to be made by such Lender. Anything in this Agreement to the contrary notwithstanding, each Lender hereby agrees with each other Lender that no Lender shall take any action to protect or enforce its rights arising out of this Agreement or the Notes (including, without limitation, exercising any rights of off-set) without first obtaining the prior written consent of the Administrative Agent or the Majority Lenders, it being the intent of the Lenders that any such action to protect or enforce rights under this Agreement and the Notes shall be taken in concert and at the direction or with the consent of the Administrative Agent or the Majority Lenders and not individually by a single Lender.

Appears in 2 contracts

Samples: Credit Agreement (Mediacom Capital Corp), Credit Agreement (Mediacom LLC)

Several Obligations; Remedies Independent. The failure of any Lender ----------------------------------------- to make any Loan to be made by it on the date specified therefor shall not relieve any other Lender of its obligation to make its Loan on such date, but neither any Lender nor the Administrative Agent shall be responsible for the failure of any other Lender to make a Loan to be made by such other Lender, and (except as otherwise provided in Section 4.064.06 hereof) no Lender shall have any obligation to the Administrative Agent or any other Lender for the failure by such Lender to make any Loan required to be made by such Lender. Anything in this Agreement to the contrary notwithstanding, each Lender hereby agrees with each other Lender that no Lender shall take any action to protect or enforce its rights arising out of this Agreement (including, without limitation, exercising any rights of off-set) without first obtaining the prior written consent of the Administrative Agent or the Majority Lenders, it being the intent of the Lenders that any such action to protect or enforce rights under this Agreement shall be taken in concert and at the direction or with the consent of the Administrative Agent or the Majority Lenders and not individually by a single Lender.

Appears in 2 contracts

Samples: Credit Agreement (Mediacom LLC), Credit Agreement (Mediacom LLC)

Several Obligations; Remedies Independent. The failure of any ----------------------------------------- Lender to make any Loan to be made by it on the date specified therefor shall not relieve any other Lender of its obligation to make its Loan on such date, but neither any Lender nor the Administrative Agent shall be responsible for the failure of any other Lender to make a Loan to be made by such other Lender, and (except as otherwise provided in Section 4.064.06 hereof) no Lender shall have any obligation to the Administrative Agent or any other Lender for the failure by such Lender to make any Loan required to be made by such Lender. Anything in this Agreement to the contrary notwithstanding, each Lender hereby agrees with each other Lender that no Lender shall take any action to protect or enforce its rights arising out of this Agreement (including, without limitation, exercising any rights of off-set) without first obtaining the prior written consent of the Administrative Agent or the Majority Lenders, it being the intent of the Lenders that any such action to protect or enforce rights under this Agreement shall be taken in concert and at the direction or with the consent of the Administrative Agent or the Majority Lenders and not individually by a single Lender.

Appears in 2 contracts

Samples: Credit Agreement (Mediacom Broadband Corp), Credit Agreement (Mediacom Communications Corp)

Several Obligations; Remedies Independent. The failure of any Lender to make any Loan to be made by it on the date specified therefor shall not relieve any other Lender of its obligation to make its Loan on such date, but neither any Lender nor the Administrative Agent shall be responsible for the failure of any other Lender to make a Loan to be made by such other Lender, and (except as otherwise provided in Section 4.064.06 hereof) no Lender shall have any obligation to the Administrative Agent or any other Lender for the failure by such Lender to make any Loan required to be made by such Lender. Anything in this Agreement to the contrary notwithstanding, each Lender hereby agrees with each other Lender that no Lender shall take any action to protect or enforce its rights arising out of this Agreement (including, without limitation, exercising any rights of off-set) without first obtaining the prior written consent of the Administrative Agent or the Majority Lenders, it being the intent of the Lenders that any such action to protect or enforce rights under this Agreement shall be taken in concert and at the direction or with the consent of the Administrative Agent or the Majority Lenders and not individually by a single Lender.

Appears in 2 contracts

Samples: Credit Agreement (Mediacom Capital Corp), Credit Agreement (Mediacom Communications Corp)

Several Obligations; Remedies Independent. The failure of any Lender to make any Loan to be made by it on the date specified therefor shall not relieve any other Lender of its obligation to make its Loan on such date, but neither any Lender nor the Administrative Agent shall be responsible for the failure of any other Lender to make a Loan to be made by such other Lender, and (except as otherwise provided in Section 4.064.06 hereof) no Lender shall have any obligation to the Administrative Agent or any other Lender for the failure by such Lender to make any Loan required to be made by such Lender. Anything ; provided that nothing in this Agreement sentence shall limit the recourse of the Company against such Lender. The amounts payable by the Company at any time hereunder to the contrary notwithstanding, each Lender hereby agrees with shall be a separate and independent debt and each other Lender that no Lender shall take be entitled, subject to Section 10 hereof in the case of any action acceleration of Indebtedness hereunder or termination of any Commitments, to protect or and enforce its rights arising out of this Credit Agreement (includingAgreement, without limitation, exercising and it shall not be necessary for any rights of off-set) without first obtaining the prior written consent of other Lender or the Administrative Agent to consent to, or the Majority Lendersbe joined as an additional party in, it being the intent of the Lenders that any proceedings for such action to protect or enforce rights under this Agreement shall be taken in concert and at the direction or with the consent of the Administrative Agent or the Majority Lenders and not individually by a single Lenderpurposes.

Appears in 1 contract

Samples: Credit Agreement (United Stationers Supply Co)

Several Obligations; Remedies Independent. The failure of any Lender to make any Loan or provide proceeds in respect of a Bankers' Acceptance to be made by it on the date specified therefor shall not relieve any other Lender of its obligation to make its Loan or provide such proceeds on such date, but neither any Lender nor the Administrative Agent shall be responsible for the failure of any other Lender to make a Loan or provide such proceeds to be made by such other Lender, and (except as otherwise provided in Section 4.064.07 hereof) no Lender shall have any obligation to the Administrative Agent or any other Lender for the failure by such Lender to make any Loan or provide such proceeds required to be made by such Lender. Anything in this Agreement The amounts payable by the Company at any time hereunder, under the Notes and under any Bankers' Acceptances to the contrary notwithstanding, each Lender hereby agrees with shall be a separate and independent debt and each other Lender that no Lender shall take any action be entitled to protect or and enforce its rights arising out of this Agreement (includingAgreement, without limitationthe Notes and such Bankers' Acceptances, exercising and it shall not be necessary for any rights of off-set) without first obtaining the prior written consent of other Lender or the Administrative Agent to consent to, or the Majority Lendersbe joined as an additional party in, it being the intent of the Lenders that any proceedings for such action to protect or enforce rights under this Agreement shall be taken in concert and at the direction or with the consent of the Administrative Agent or the Majority Lenders and not individually by a single Lenderpurposes.

Appears in 1 contract

Samples: Credit Agreement (Canadian Forest Oil LTD)

Several Obligations; Remedies Independent. The failure of any Lender to ----------------------------------------- make any Loan to be made by it on the date specified therefor shall not relieve any other Lender of its obligation to make its Loan on such date, but neither any Lender nor the Administrative Agent shall be responsible for the failure of any other Lender to make a Loan to be made by such other Lender, and (except as otherwise provided in Section 4.064.06 hereof) no Lender shall have any obligation to the Administrative Agent or any other Lender for the failure by such Lender to make any Loan required to be made by such Lender. Anything in this Agreement to the contrary notwithstanding, each Lender hereby agrees with each other Lender that no Lender shall take any action to protect or enforce its rights arising out of this Agreement (including, without limitation, exercising any rights of off-set) without first obtaining the prior written consent of the Administrative Agent or the Majority Lenders, it being the intent of the Lenders that any such action to protect or enforce rights under this Agreement shall be taken in concert and at the direction or with the consent of the Administrative Agent or the Majority Lenders and not individually by a single Lender.. Credit Agreement ---------------- -42-

Appears in 1 contract

Samples: Credit Agreement (Mediacom Communications Corp)

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Several Obligations; Remedies Independent. The failure of any Lender to make any Loan to be made by it on the date specified therefor shall not relieve any other Lender of its obligation to make its Loan on such date, but neither any Lender nor the Administrative Agent shall be responsible for the failure of any other Lender to make a Loan to be made by such other Lender, and (except as otherwise provided in Section 4.064.06 hereof) no Lender shall have any obligation to the Administrative Agent or any other Lender for the failure by such Lender to make any Loan required to be made by such Lender. Anything in this Agreement to the contrary notwithstanding, each Lender hereby agrees with each other Lender that no Lender shall take any action to protect or enforce its rights arising out of this Agreement or the Notes (including, without limitation, exercising any rights of off-set) without first obtaining the prior written consent of the Administrative Agent or the Majority Lenders, it being the intent of the Lenders that any such action to protect or enforce rights under this Agreement and the Notes shall be taken in concert and at the direction or with the consent of the Administrative Agent or the Majority Lenders and not individually by a single Lender.. Credit Agreement

Appears in 1 contract

Samples: Security Agreement (Panavision Inc)

Several Obligations; Remedies Independent. The failure of any Lender to make any Loan to be made by it on the date specified therefor shall not relieve any other Lender of its obligation to make its Loan on such date, but neither any Lender nor the Administrative Agent shall be responsible for the failure of any other Lender to make a Loan to be made by such other Lender, and (except as otherwise provided in Section 4.064.06 hereof) no Lender shall have any obligation to the Administrative Agent or any other Lender for the failure by such Lender to make any Loan required to be made by such Lxxxxx; provided that nothing in this sentence shall limit the recourse of the Company against such Lender. Anything in this Agreement The amounts payable by the Company at any time hereunder to the contrary notwithstanding, each Lender hereby agrees with shall be a separate and independent debt and each other Lender that no Lender shall take be entitled, subject to Section 10 hereof in the case of any action acceleration of Indebtedness hereunder or termination of any Commitments, to protect or and enforce its rights arising out of this Agreement (includingAgreement, without limitation, exercising and it shall not be necessary for any rights of off-set) without first obtaining the prior written consent of the Administrative Agent other Lender or the Majority LendersAgent to consent to, it being the intent of the Lenders that or be joined as an additional party in, any proceedings for such action to protect or enforce rights under this Agreement shall be taken in concert and at the direction or with the consent of the Administrative Agent or the Majority Lenders and not individually by a single Lenderpurposes.

Appears in 1 contract

Samples: Credit Agreement (United Stationers Supply Co)

Several Obligations; Remedies Independent. The failure of any Lender to make any Loan to be made by it on the date specified therefor shall not relieve any other Lender of its obligation to make its Loan on such date, but neither any Lender nor the Administrative Agent shall be responsible for the failure of any other Lender to make a Loan to be made by such other Lender, and (except as otherwise provided in Section 4.064.06 hereof) no Lender shall have any obligation to the Administrative Agent or any other Lender for the failure by such Lender to make any Loan required to be made by such Lender. Anything ; PROVIDED that nothing in this Agreement sentence shall limit the recourse of the Company against such Lender. The amounts payable by the Company at any time hereunder to the contrary notwithstanding, each Lender hereby agrees with shall be a separate and independent debt and each other Lender that no Lender shall take be entitled, subject to Section 10 hereof in the case of any action acceleration of Indebtedness hereunder or termination of any Commitments, to protect or and enforce its rights arising out of this Agreement (includingAgreement, without limitation, exercising and it shall not be necessary for any rights of off-set) without first obtaining the prior written consent of other Lender or the Administrative Agent to consent to, or the Majority Lendersbe joined as an additional party in, it being the intent of the Lenders that any proceedings for such action to protect or enforce rights under this Agreement shall be taken in concert and at the direction or with the consent of the Administrative Agent or the Majority Lenders and not individually by a single Lenderpurposes.

Appears in 1 contract

Samples: Credit Agreement (United Stationers Supply Co)

Several Obligations; Remedies Independent. The failure of any Lender to make any Loan to be made by it on the date specified therefor shall not relieve any other Lender of its obligation to make its Loan on such date, but neither any Lender nor the Administrative Agent shall be responsible for the failure of any other Lender to make a Loan to be made by such other Lender, and (except as otherwise provided in Section 4.064.06 hereof) no Lender shall have any obligation to the Administrative Agent or any other Lender for the failure by such Lender to make any Loan required to be made by such Lender. Anything in this Agreement to the contrary notwithstanding, each Lender hereby agrees with each other Lender that no Lender shall take any action to protect or enforce its rights arising out of this Agreement (including, without limitation, exercising any rights of off-set) without first obtaining the prior written consent of the Administrative Agent or the Majority Lenders, it being the intent of the Lenders that any such action to protect or enforce rights under this Agreement shall be taken in concert and at the direction or with the consent of the Administrative Agent or the Majority Lenders and not individually by a single Lender.. Credit Agreement

Appears in 1 contract

Samples: Credit Agreement (Mediacom Communications Corp)

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