Examples of Joint and Several Obligor in a sentence
Xxxx Xxxxxxx Xxxxxx Xxxxxxx and Xxxxxx Xxxxxxx Xxxxx, as joint and several obligor (the "Joint and Several Obligor").
On the date on which the Credit Drawdown is going to be made, the representations of the Borrower and the Joint and Several Obligor remain true and accurate, as if they had been made on that date, and therefore the Borrower and the Joint and Several Obligor undertake to notify the Credit Agent in writing of any event that affects or that simply with the passage of time might come to affect the validity or veracity of those representations.
In its capacity as Joint and Several Obligor, it also agrees to pay the Lender any and all expenses incurred by reason of this Agreement, as well as attorneys’ fees and expenses incurred by the Lender in connection with the collection or attempted collection of amounts owed by the Borrower to the Lender.
If, during the term of the Loan, there is any [illegible] that either the Borrower or the Joint and Several Obligor has incurred or is incurring an act of bribery, kickback, corruption, unlawful act, or non-compliance with anti-corruption provisions, this must be reported to the Lender immediately, as well as the measures or actions that will be implemented in this regard.
The foregoing, on the understanding that in the event that it is the Joint and Several Obligor who is under the circumstances described herein, the Borrower may propose the substitution of such Joint and Several Obligor and if accepted by the Creditors, it will not be considered as a cause for acceleration.
For the purposes of the joint and several obligation assumed herein, each Joint and Several Obligor agrees that the obligations of the Lessee under the Lease Documents are indivisible, hence each Joint and Several Obligor is liable for the aggregate Total Rent and other obligations of the Lessee under this Agreement, the Lease Exhibits, and the other Lease Documents.
In this case, the Borrower, the Joint and Several Obligor, and the Lender will agree on such new conditions in an amendment executed in accordance with the terms and conditions of this Agreement.
The Joint and Several Obligor shall refrain from merging, splitting, transforming, or modifying its purpose or object, or amending its bylaws without the prior written consent of the Creditors.
The Joint and Several Obligor agrees to perform any and all of its obligations under this Agreement, including but not limited to not encumbering, transferring, or otherwise disposing of the property declared in the financial information submitted to the Lender for the execution of this Agreement, without the prior written consent of the Lender, and further agrees to provide the Lender with all information required for the oversight and monitoring of the Loan.
The Lessee, the Joint and Several Obligor, and the Depositary may exercise, where appropriate, the rights of access, rectification, cancellation, or opposition provided in the Law, by written request submitted to the Lessor at its address.