Common use of Unenforceability of Obligations Clause in Contracts

Unenforceability of Obligations. As a separate and continuing undertaking, each Subsidiary Guarantor unconditionally and irrevocably undertakes to the Lender that, should any Guaranteed Obligations not be recoverable against such Subsidiary Guarantor under this Subsidiary Guarantee Agreement on the footing of a guarantee for any reason, including, without limitation, a provision of this Subsidiary Guarantee Agreement or an obligation (or purported obligation) of any Obligor to pay any Guaranteed Obligation being or becoming void, voidable, unenforceable or otherwise invalid, and whether or not that reason is or was known to the Lender, and whether or not that reason is: (a) a defect in or lack of powers affecting any Obligor, or the irregular exercise of those powers; or (b) a defect in or lack of authority by a Person purporting to act on behalf of any Obligor; or (c) a dissolution, change in status, constitution or control, reconstruction or reorganization of any Obligor (or the commencement of steps to effect the same), then such Subsidiary Guarantor will, as a separate and additional obligation under this Subsidiary Guarantee Agreement, indemnify the Lender immediately on demand against the amount which the Lender would otherwise have been able to recover (on a full indemnity basis). In this Section 9.21 the expression “Guaranteed Obligations” includes any Indebtedness which would have been included in that expression but for anything referred to in this clause.

Appears in 1 contract

Samples: Credit Agreement (UTi WORLDWIDE INC)

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Unenforceability of Obligations. As a separate and continuing undertaking, each Subsidiary Guarantor unconditionally and irrevocably undertakes to the Lender Issuing Bank that, should any Guaranteed Obligations not be recoverable against such Subsidiary Guarantor under this Subsidiary Guarantee Agreement on the footing of a guarantee for any reason, including, without limitation, a provision of this Subsidiary Guarantee Agreement or an obligation (or purported obligation) of any Obligor to pay any Guaranteed Obligation being or becoming void, voidable, unenforceable or otherwise invalid, and whether or not that reason is or was known to the LenderIssuing Bank, and whether or not that reason is: : (a) a defect in or lack of powers affecting any Obligor, or the irregular exercise of those powers; or or (b) a defect in or lack of authority by a Person purporting to act on behalf of any Obligor; or or (c) a dissolution, change in status, constitution or control, reconstruction or reorganization of any Obligor (or the commencement of steps to effect the same), then such Subsidiary Guarantor will, as a separate and additional obligation under this Subsidiary Guarantee Agreement, indemnify the Lender Issuing Bank immediately on demand against the amount which the Lender Issuing Bank would otherwise have been able to recover (on a full indemnity basis). In this Section 9.21 23.22 the expression “Guaranteed Obligations” includes any Indebtedness which would have been included in that expression but for anything referred to in this clause.. 60 UTi Worldwide Inc. Letter of Credit Agreement

Appears in 1 contract

Samples: Letter of Credit Agreement

Unenforceability of Obligations. As a separate and continuing undertaking, each Subsidiary Guarantor unconditionally and irrevocably undertakes to the Lender Issuing Bank that, should any Guaranteed Obligations not be recoverable against such Subsidiary Guarantor under this Subsidiary Guarantee Agreement on the footing of a guarantee for any reason, including, without limitation, a provision of this Subsidiary Guarantee Agreement or an obligation (or purported obligation) of any Obligor to pay any Guaranteed Obligation being or becoming void, voidable, unenforceable or otherwise invalid, and whether or not that reason is or was known to the LenderIssuing Bank, and whether or not that reason is: (a) a defect in or lack of powers affecting any Obligor, or the irregular exercise of those powers; or (b) a defect in or lack of authority by a Person purporting to act on behalf of any Obligor; or (c) a dissolution, change in status, constitution or control, reconstruction or reorganization of any Obligor (or the commencement of steps to effect the same), then such Subsidiary Guarantor will, as a separate and additional obligation under this Subsidiary Guarantee Agreement, indemnify the Lender Issuing Bank immediately on demand against the amount which the Lender Issuing Bank would otherwise have been able to recover (on a full indemnity basis). In this Section 9.21 subsection 23.22 the expression “Guaranteed Obligations” includes any Indebtedness which would have been included in that expression but for anything referred to in this clause.

Appears in 1 contract

Samples: Letter of Credit Agreement (UTi WORLDWIDE INC)

Unenforceability of Obligations. As a separate and continuing undertaking, each Subsidiary Guarantor unconditionally and irrevocably undertakes to the Lender Issuing Bank that, should any Guaranteed Obligations not be recoverable against such Subsidiary Guarantor under this Subsidiary Guarantee Agreement on the footing of a guarantee for any reason, including, without limitation, a provision of this Subsidiary Guarantee Agreement or an obligation (or purported obligation) of any Obligor to pay any Guaranteed Obligation being or becoming void, voidable, unenforceable or otherwise invalid, and whether or not that reason is or was known to the LenderIssuing Bank, and whether or not that reason is: (a) a defect in or lack of powers affecting any Obligor, or the irregular exercise of those powers; or (b) a defect in or lack of authority by a Person purporting to act on behalf of any Obligor; or (c) a dissolution, change in status, constitution or control, reconstruction or reorganization of any Obligor (or the commencement of steps to effect the same), then such Subsidiary Guarantor will, as a separate and additional obligation under this Subsidiary Guarantee Agreement, indemnify the Lender Issuing Bank immediately on demand against the amount which the Lender Issuing Bank would otherwise have been able to recover (on a full indemnity basis). In this Section 9.21 23.22 the expression “Guaranteed Obligations” includes any Indebtedness which would have been included in that expression but for anything referred to in this clause.. UTi Worldwide Inc. Letter of Credit Agreement

Appears in 1 contract

Samples: Letter of Credit Agreement (UTi WORLDWIDE INC)

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Unenforceability of Obligations. As a separate and continuing undertaking, each Subsidiary Guarantor unconditionally and irrevocably undertakes to the Lender that, should any Guaranteed Obligations not be recoverable against such Subsidiary Guarantor under this Subsidiary Guarantee Agreement on the footing of a guarantee for any reason, including, without limitation, a provision of this Subsidiary Guarantee Agreement or an obligation (or purported obligation) of any Obligor to pay any Guaranteed Obligation being or becoming void, voidable, unenforceable or otherwise invalid, and whether or not that reason is or was known to the Lender, and whether or not that reason is: (a) a defect in or lack of powers affecting any Obligor, or the irregular exercise of those powers; or (b) a defect in or lack of authority by a Person purporting to act on behalf of any Obligor; or (c) a dissolution, change in status, constitution or control, reconstruction or reorganization of any Obligor (or the commencement of steps to effect the same), then such Subsidiary Guarantor will, as a separate and additional obligation under this Subsidiary Guarantee Agreement, indemnify the Lender immediately on demand against the amount which the Lender would otherwise have been able to recover (on a full indemnity basis). In this Section 9.21 23.22 the expression “Guaranteed Obligations” includes any Indebtedness which would have been included in that expression but for anything referred to in this clause.

Appears in 1 contract

Samples: Letter of Credit and Cash Draw Agreement (UTi WORLDWIDE INC)

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