Common use of Commercial Activity; Absence of Immunity Clause in Contracts

Commercial Activity; Absence of Immunity. Each Obligor is subject to civil and commercial law with respect to its obligations under each of the Basic Documents to which it is a party. The execution, delivery and performance by each Obligor of each Basic Document to which it is a party constitute private and commercial acts rather than public or governmental acts. None of the Obligors, nor any of their respective Properties or revenues, is entitled to any right of immunity in any jurisdiction from suit, court jurisdiction, judgment, attachment (whether before or after judgment), set-off or execution of a judgment or from any other legal process or remedy relating to the obligations of such Obligor under any of the Basic Documents to which it is a party.

Commercial Activity; Absence of Immunity. Each Obligor is subject to civil and commercial law with respect to its obligations under this Credit Agreement, and each of the Basic Documents other Loan Document to which it is a party. The execution, delivery and performance by each Obligor of this Credit Agreement and each Basic other Loan Document to which it is a party constitute private and commercial acts rather than public or governmental acts. None of the Obligors, No Obligor nor any property of their respective Properties or revenues, any Obligor is entitled to any right of immunity in any jurisdiction from suit, court jurisdiction, judgment, attachment (whether before or after judgment), set-off setoff or execution of a judgment or from any other legal process or remedy relating to the its obligations of such Obligor under this Credit Agreement or any of the Basic other Loan Documents to which it is a party.