Common use of Grantors Remain Liable Clause in Contracts

Grantors Remain Liable. Anything contained herein to the contrary notwithstanding, (a) each Grantor shall remain liable under any contracts and agreements included in the Collateral, to the extent set forth therein, to perform all of its duties and obligations thereunder to the same extent as if this Agreement had not been executed, (b) the exercise by the Collateral Agent of any of its rights hereunder shall not release any Grantor from any of its duties or obligations under any contracts and agreements included in the Collateral and (c) the Collateral Agent shall not have any obligation or liability under any contracts, licenses and agreements included in the Collateral by reason of this Agreement, nor shall the Collateral Agent be obligated to perform any of the obligations or duties of any Grantor thereunder or to take any action to collect or enforce any claim for payment assigned hereunder.

Appears in 4 contracts

Samples: Amended and Restated Security Agreement (ORBCOMM Inc.), Security Agreement (ORBCOMM Inc.), Credit Agreement (ORBCOMM Inc.)

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Grantors Remain Liable. Anything contained herein to the contrary notwithstanding, (a) each Grantor shall remain liable under any contracts and agreements included in the Collateral, to the extent set forth therein, to perform all of its duties and obligations thereunder to the same extent as if this Agreement had not been executed, (b) the exercise by the Collateral Agent of any of its the rights hereunder shall not release any the Grantor from any of its duties or obligations under any the contracts and agreements included in the Collateral and (c) the Collateral Agent or Obligee shall not have any obligation or liability under any contracts, licenses contracts and agreements included in the Collateral by reason of this Agreement, nor shall the Collateral Agent or Obligee be obligated to perform any of the obligations or duties of any the Grantor thereunder or to take any action to collect or enforce any claim for payment assigned hereunder.

Appears in 4 contracts

Samples: Junior Personal Property Security Agreement (Atlantic Gulf Communities Corp), Junior Personal Property Security Agreement (Atlantic Gulf Communities Corp), Personal Property Security Agreement (Atlantic Gulf Communities Corp)

Grantors Remain Liable. Anything contained herein to the contrary notwithstanding, : (a) each Grantor shall remain liable under any the contracts and agreements included in the Collateral, Collateral to the extent set forth therein, therein to perform all of its duties and obligations thereunder to the same extent as if this Agreement had not been executed, (b) the exercise by the Collateral Administrative Agent of any of its the rights hereunder shall not release any Grantor from any of its duties or obligations under any the contracts and agreements included in the Collateral and Collateral, (c) neither the Collateral Administrative Agent nor any Lender shall not have any obligation or liability under any contracts, licenses the contracts and agreements included in the Collateral by reason of this Agreement, nor shall the Collateral Administrative Agent or any Lender be obligated to perform any of the obligations or duties of any Grantor thereunder or to take any action to collect or enforce any claim for payment assigned hereunder, and (d) neither the Administrative Agent nor any Lender shall have any liability in contract or tort for any Grantor's acts or omissions.

Appears in 4 contracts

Samples: Collateral Agreement (Cross Country Healthcare Inc), Collateral Agreement (Armor Holdings Inc), Collateral Agreement (Blue Rhino Corp)

Grantors Remain Liable. Anything contained herein to the contrary notwithstanding, (a) each Grantor shall remain liable under any contracts contracts, licenses and agreements included in the Collateral, to the extent set forth therein, to perform all of its duties and obligations thereunder to the same extent as if this Agreement had not been executed, (b) the exercise by the Collateral Agent of any of its rights hereunder shall not release any Grantor from any of its duties or obligations under any contracts the contracts, licenses and agreements included in the Collateral Collateral, and (c) the Collateral Agent shall not Security Agreement have any obligation or liability under any contracts, licenses licenses, and agreements included in the Collateral by reason of this Agreement, nor shall the Collateral Agent be obligated to perform any of the obligations or duties of any Grantor thereunder or to take any action to collect or enforce any claim for payment assigned hereunder.

Appears in 1 contract

Samples: Security Agreement (Danielson Holding Corp)

Grantors Remain Liable. Anything contained herein to the contrary notwithstanding, (a) each Grantor shall remain liable under any the contracts and agreements of such Grantor included in the Collateral, Collateral to the extent set forth therein, therein to perform all of its duties and obligations thereunder to the same extent as if this Agreement had not been executed, (b) the exercise by the Collateral Agent Trustee of any of its the rights hereunder shall not release any Grantor from any of its duties or obligations under any the contracts and agreements included in the Collateral and (c) neither the Collateral Agent Trustee nor any Holder shall not have any obligation or liability under any contracts, licenses the contracts and agreements included in the Collateral by reason of this Agreement, nor shall the Collateral Agent Trustee or any Holder be obligated to perform any of the obligations or duties of any Grantor person thereunder or to take any action to collect or enforce any claim for payment assigned hereunder.

Appears in 1 contract

Samples: Security Agreement (Gb Holdings Inc)

Grantors Remain Liable. Anything contained herein to the contrary notwithstanding, (a) each Grantor shall remain liable under any contracts contracts, licenses and agreements included in the Collateral, to the extent set forth therein, to perform all of its duties and obligations thereunder to the same extent as if this Agreement had not been executed, (b) the exercise by the Collateral Agent of any of its rights hereunder shall not release any Grantor from any of its duties or obligations under any contracts the contracts, licenses and agreements included in the Collateral Collateral, and (c) the Collateral Agent shall not have any obligation or liability under any contracts, licenses licenses, and agreements included in the Collateral by reason of this Agreement, nor shall the Collateral Agent be obligated to perform any of the obligations or duties of any Grantor thereunder or to take any action to collect or enforce any claim for payment assigned hereunder.

Appears in 1 contract

Samples: Security Agreement (Danielson Holding Corp)

Grantors Remain Liable. Anything contained herein to the contrary notwithstanding, (a) each Grantor shall remain liable under any contracts and agreements included in the Collateral, to the extent set forth therein, to perform all of its duties and obligations thereunder to the same extent as if this Pledge and Security Agreement Agreement had not been executed, (b) the exercise by the Collateral Agent of any of its rights hereunder shall not (except as provided in Section 15) release any Grantor from any of its duties or obligations under any the contracts and agreements included in the Collateral Collateral, and (c) the Collateral Agent shall not have any obligation or liability under any contracts, licenses licenses, and agreements included in the Collateral by reason of this Agreement, nor shall the Collateral Agent be obligated to perform any of the obligations or duties of any Grantor thereunder or to take any action to collect or enforce any claim for payment assigned hereunder.

Appears in 1 contract

Samples: Pledge and Security Agreement (La Quinta Corp)

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Grantors Remain Liable. Anything contained herein to the contrary notwithstanding, (a) each Grantor shall remain liable under any the contracts and agreements included in the Collateral, Collateral to the extent set forth therein, therein to perform all of its duties and obligations thereunder to the same extent as if this Agreement had not been executed, (b) the exercise by the Collateral Agent of any of its the rights hereunder shall not release any Grantor of the Grantors from any of its duties or obligations under any the contracts and agreements included in the Collateral and (c) neither the Collateral Agent nor the Purchaser shall not have any obligation or liability under any contracts, licenses the contracts and agreements included in the Collateral by reason of this AgreementAgreement or any other Note Document, nor shall the Collateral Agent or the Purchaser be obligated to perform any of the obligations or duties of any Grantor of the Grantors thereunder or to take any action to collect or enforce any claim for payment assigned hereunder.

Appears in 1 contract

Samples: Escrow Agreement (Icg Communications Inc /De/)

Grantors Remain Liable. Anything contained herein to the contrary notwithstanding, (a) each Grantor shall remain liable under any the contracts and agreements included in the Collateral, Collateral to which such Grantor is a party to the extent set forth therein, therein to perform all of its duties and obligations thereunder to the same extent as if this Agreement had not been executed, (b) the exercise by the Collateral Agent Guarantor of any of its the rights hereunder shall not release any either Grantor from any of its duties or obligations under any the contracts and agreements included in the Collateral Collateral, and (c) the Collateral Agent Guarantor shall not have any obligation or liability under any contracts, licenses the contracts and agreements included in the Collateral by reason of this AgreementAgreement (except for the Windmere Notes), nor shall the Collateral Agent Guarantor be obligated to perform any of the obligations or duties of any either Grantor thereunder or to take any action to collect or enforce any claim for payment assigned hereunder.

Appears in 1 contract

Samples: Indemnification and Security Agreement (Newtech Corp)

Grantors Remain Liable. Anything contained herein to the contrary ---------------------- notwithstanding, (a) each Grantor shall remain liable under any its respective contracts and agreements included in the Collateral, Collateral to the extent set forth therein, therein to perform all of its duties and obligations thereunder to the same extent as if this Agreement had not been executed, (b) the exercise by the Collateral Agent of any of its the rights hereunder shall not release any Grantor from any of its duties or obligations under any its respective contracts and agreements included in the Collateral Collateral, and (c) neither the Collateral Agent nor any Holder shall not have any obligation or liability under any contracts, licenses the contracts and agreements included in the Collateral by reason of this Agreement, nor shall the Collateral Agent or any Holder be obligated to perform any of the obligations or duties of any Grantor thereunder or to take any action to collect or enforce any claim for payment assigned hereunder.

Appears in 1 contract

Samples: Security and Pledge Agreement (Western Micro Technology Inc /De)

Grantors Remain Liable. Anything contained herein to the contrary notwithstanding, (a) each Grantor shall remain liable under any contracts and agreements included in the Collateral, to the extent set forth therein, to perform all of its duties and obligations thereunder to the same extent as if this Agreement had not been executed, (b) the exercise by the Collateral Agent of any of its rights hereunder shall not release any Grantor from any of its duties or obligations under any the contracts and agreements included in the Collateral Collateral, and (c) the Collateral Agent shall not have any obligation or liability under any contracts, licenses licenses, and agreements included in the Collateral by reason of this Agreement, nor shall the Collateral Agent be obligated to perform any of the obligations or duties of any Grantor thereunder or to take any action to collect or enforce any claim for payment assigned hereunder.

Appears in 1 contract

Samples: Security Agreement (Loral Space & Communications Inc.)

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