Joint and Severally Liable definition

Joint and Severally Liable means where there are two or more Tenants, you will each be responsible for complying with the obligations in this Agreement both individually and together. We may seek to enforce these obligations or claim damages against any one or more of you. For example, if three Tenants are named on this Agreement and one Tenant does not pay their proportion of the Rent, we can recover the amount owed from any one of you or any group.
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Joint and Severally Liable means where there are two or more Tenants, you will each be responsible for complying with the obligations in this Agreement both individually and together. We may seek to enforce these obligations or claim damages against any one or more of you. For example, if three Tenants are named on this Agreement and one Tenant does not pay their proportion of the Rent, we can recover the amount owed from any one of you or any group. If the Tenancy is periodic and one Tenant gives notice to quit, the notice will end the Tenancy for all of you.
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Joint and Severally Liable is a legally binding phrase which means, among other obligations, each individual signing this Lease as a Tenant is legally responsible to the Landlord for any and all obligations required hereunder (rent, damages, etc.) versus a pro-rata share of any such obligation.
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Examples of Joint and Severally Liable in a sentence

  • What does Joint and Severally Liable mean?Where the Tenant is more than one person the Tenant’s covenants are joint and several.

  • Thus, Defendants’ Motion to Exclude all Evidence as to Count II against ICMC to the Extent that Bancroft Argues Defendants Patton and Bailey are Joint and Severally Liable Under Any Ownership Theory and to Dismiss Same With Prejudice will be GRANTED.

  • Who will I be Guaranteeing?Each tenant has their own Guarantor, but Guarantors are Joint and Severally Liable.What does Joint and Severally Liable mean?Where the Tenant is more than one person the Tenant’s covenants are joint and several.

  • Who will I be Guaranteeing?Each tenant has their own Guarantor, but Guarantors are Joint and Severally Liable.

  • What had developed through the grant / funding application process is the establishment of a range of partnerships, some constituted as a Joint and Severally Liable (JSL) partnership and some where a lead partner had been proposed to deliver the grant agreement.

  • Where there is more than one Tenant you will all be Joint and Severally Liable for the obligations contained within this Agreement.

  • In a number of Joint and Severally Liable partnerships have developed deeper engagement and via co production have built partnerships that are continuing outside the TSC cases partner organisations have developed a deeper engagement with one another and some JSL partnerships have made funding applications outside of the TSC arrangements and several have been successful in levering in additional resource to the city.

  • Joint and Severally Liable (JSL) occurs when two or more payers are ordered by the courts to pay restitution to the same payee for some or the entire restitution amounts ordered is to be paid as JSL.


More Definitions of Joint and Severally Liable

Joint and Severally Liable means where there are two or more Tenants, the Tenant(s) will each be responsible for complying with the obligations in this Agreement both individually and together. The Landlord(s) may seek to enforce these obligations or claim damages against any one or more of the Tenants. For example, if three Tenants are named on this Agreement and one Tenant does not pay their proportion of the Rent, the Landlord(s) can recover the amount owed from any one Tenant or any group of Tenant(s). If the Tenancy is periodic and one Tenant gives notice to quit, the notice will end the Tenancy for all Tenants.
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Joint and Severally Liable means that all tenants are jointly liable for the payment of all rent, bills and liabilities during the tenancy, in addition to any breach of the agreement. Each tenant is individually responsible for the whole rent until all payments have been made in full. (A maximum of four people can be joint tenants.) IF ANY ONE TENANT SERVES NOTICE TO END THE TENANCY THIS WILL END THE TENANCY FOR ALL TENANTS.
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Joint and Severally Liable means that all tenants are jointly liable for the payment of all rent, bills and liabilities during the tenancy, in addition to any breach of the agreement. Each tenant is individually responsible for the whole rent until all payments have been made in full. (A maximum of four people can be joint tenants.)
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Joint and Severally Liable means that each person will be responsible for complying with the obligations of and paying all charges and costs under this agreement both individually and together. ● ‘LANDLORD’, ‘YOU’ OR ‘YOUR’ means the Landlord, the owner of the property, or any other person with interest in the property, whether freehold or leasehold. ● ‘TENANT’ means anyone entitled to possession of the property under the agreement. ● ‘PROPERTY’ means any part or parts of the building, boundaries, fences, gardens, and outbuildings belonging to the Landlord. ● ‘INVENTORY’ or also known as Inventory and Schedule of Condition, means the document drawn up prior to the commencement of the tenancy by the Landlord or Agent, which includes all fixture, fittings, and condition of the property. ● ‘TERM’ OR ‘TENANCY’ means the fixed Term of the Tenancy Agreement and any extension or continuation of the tenancy whether fixed term or periodic arising after the expiry of the original term. ● ‘SUPERIOR LANDLORD’ means the person, company, or organisation to whom ownership of the property reverts at the end of the lease. ● ‘DEPOSIT’ means the money held by the Agent, to cover damage and dilapidations if the tenant fails to comply with the Tenancy Agreement.
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Related to Joint and Severally Liable

  • Guaranty Obligations means, with respect to any Person, without duplication, any obligations of such Person (other than endorsements in the ordinary course of business of negotiable instruments for deposit or collection) guaranteeing or intended to guarantee any Indebtedness of any other Person in any manner, whether direct or indirect, and including without limitation any obligation, whether or not contingent, (a) to purchase any such Indebtedness or any property constituting security therefor, (b) to advance or provide funds or other support for the payment or purchase of any such Indebtedness or to maintain working capital, solvency or other balance sheet condition of such other Person (including without limitation keep well agreements, maintenance agreements, comfort letters or similar agreements or arrangements) for the benefit of any holder of Indebtedness of such other Person, (c) to lease or purchase property, securities or services primarily for the purpose of assuring the holder of such Indebtedness, or (d) to otherwise assure or hold harmless the holder of such Indebtedness against loss in respect thereof. The amount of any Guaranty Obligation hereunder shall (subject to any limitations set forth therein) be deemed to be an amount equal to the outstanding principal amount (or maximum principal amount, if larger) of the Indebtedness in respect of which such Guaranty Obligation is made.

  • Secondary obligor means an obligor to the extent that:

  • Permitted SBIC Guarantee means a guarantee by the Borrower of Indebtedness of an SBIC Subsidiary on the SBA’s then applicable form, provided that the recourse to the Borrower thereunder is expressly limited only to periods after the occurrence of an event or condition that is an impermissible change in the control of such SBIC Subsidiary (it being understood that, as provided in clause (s) of Article VII, it shall be an Event of Default hereunder if any such event or condition giving rise to such recourse occurs).

  • Guarantees As defined in the preamble hereto.