Party B Group definition
Examples of Party B Group in a sentence
The intent is to net obligations owing between Party A and Party B, not obligations among the Party B Group Members or between Party A and any individual Party B Group Member.
Each Party B Group Member agrees that it shall be jointly and severally liable for the performance of all obligations of Party B and each other Party B Group Member under this Agreement (including, without limitation, for the payment of all amounts due Party A hereunder).
Each Party B Group Member waives the benefit of any statute of limitations affecting its liability hereunder or the enforcement thereof.
The reference to a single agreement between the parties set forth in Section 1(c) of this Agreement refers to a single agreement between Party A, on the one hand, and all the Party B Group Members as one Party B, on the other.
Any actions taken by Party A prior to receiving notice of a change in the agent shall be binding on all Party B Group Members.
Each Party B Group Member waives all presentments, demands for performance, notices of non-performance, protests, notices of protests and notices of dishonor with respect to the obligations of each other Party B Group Member hereunder.
Section 4 of this Agreement is amended to delete the words "Each party agrees with the other" which appear at the beginning of that section and substitute in their place the words: "Party A agrees with Party B, and each Party B Group Member agrees with Party A".
There is no action, claim, suit, proceeding or investigation (including employee related disputes) pending, or to Party B’s and knowledge currently threatened, against Party B, or any entity within Party B Group, that affects the assets of the Company or Party B, or the Company’s ability to perform or observe any obligation or condition under this Agreement or any other transaction document.
Section 3 of this Agreement is amended to (i) delete the words "Each party represents to the other party" which appear at the beginning of that section and substitute in their place the words "Party A represents to Party B, and each Party B Group Member represents to Party A" and (ii) delete the word "party" which appears at the end of the first line of that section and substitute therefor the words "of them".
The Party B Group Agent may be changed by a written notice, signed by all Party B Group Members, delivered to Party A.