Common use of Independence of Covenants Clause in Contracts

Independence of Covenants. All covenants contained in the Loan Documents shall be given independent effect so that if a particular action or condition is not permitted by any of such covenants, the fact that such action or condition would be permitted by an exception to, or otherwise be within the limitations of, another covenant shall not avoid the occurrence of a Default or an Event of Default if such action is taken or condition exists.

Appears in 8 contracts

Samples: Credit Agreement (Kirby Corp), Credit Agreement (Kirby Corp), Credit Agreement (Kirby Corp)

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Independence of Covenants. All covenants contained in under the Loan ------------------------- Documents shall be given independent effect so that if a particular action or condition is not permitted by any of such covenants, the fact that such action or condition it would be permitted by an exception to, or be otherwise be within the limitations of, another covenant shall not avoid the occurrence of a Default or an Event of Default if such action is taken or such condition exists.

Appears in 5 contracts

Samples: Credit Agreement (Renaissance Worldwide Inc), Credit Agreement (Renaissance Worldwide Inc), Credit Agreement (Imperial Financial Group Inc)

Independence of Covenants. All covenants contained in the Each covenant and agreement of Borrower under each Loan Documents Document shall be given independent effect so that that, if a particular action or condition is not permitted prohibited or required by any of such covenantscovenant, the fact that such action or condition it would be permitted by an exception to, or be otherwise be within the limitations of, another covenant shall not avoid the occurrence of a Default or an Event of Default if such action is taken or condition exists.

Appears in 4 contracts

Samples: Credit Agreement (Hastings Entertainment Inc), Credit Agreement (Hastings Entertainment Inc), Credit Agreement (Billing Information Concepts Corp)

Independence of Covenants. All of the covenants contained in this Agreement and the other Loan Documents shall be given independent effect so that if a particular action action, event or condition is not permitted prohibited by any one of such covenants, the fact that such action or condition it would be permitted by an exception to, or otherwise be in compliance within the limitations provisions of, another covenant shall not avoid the occurrence of a Default or an Event of Default if such action is taken taken, such event occurs or such condition exists.

Appears in 4 contracts

Samples: Revolving Credit Agreement (Accentia Biopharmaceuticals Inc), Revolving Credit Agreement (Accentia Biopharmaceuticals Inc), Revolving Credit Agreement (Accentia Biopharmaceuticals Inc)

Independence of Covenants. All covenants contained in under this Agreement and the other Loan Documents shall be given independent effect so that if a particular action or condition is not permitted by any of such covenantscovenant (a “Restrictive Covenant”), the fact that such action or condition would be permitted by an exception to, or would be otherwise be within the limitations ofallowed by, another covenant covenant, shall not avoid the occurrence prevent a violation of a Default or an Event of Default such Restrictive Covenant if such action is taken or such condition exists.

Appears in 3 contracts

Samples: Credit Agreement (Trex Co Inc), Credit Agreement (Trex Co Inc), Credit Agreement (Trex Co Inc)

Independence of Covenants. All covenants contained in the under this Agreement and other Loan Documents shall be given independent effect so that if a particular action or condition is not permitted by any of such covenantsone covenant, the fact that such action or condition it would be permitted by an exception to, or otherwise be within the limitations of, another covenant shall not avoid the occurrence of a an Event of Default or an Unmatured Event of Default if such action is taken or condition exists.

Appears in 3 contracts

Samples: Credit Agreement (Ares Commercial Real Estate Corp), Credit Agreement (Ares Commercial Real Estate Corp), Credit Agreement (Ares Commercial Real Estate Corp)

Independence of Covenants. All covenants contained in this Agreement and in the other Loan Documents shall be given independent effect so that if a particular action or condition is not permitted by any of such covenants, the fact that such action or condition would be permitted by an exception to, or otherwise be within the limitations of, another covenant covenant, shall not avoid the occurrence of a Default or an Event of Default if such action is taken or such condition exists.

Appears in 3 contracts

Samples: Intercreditor Agreement (Weatherford International PLC), Intercreditor Agreement (Weatherford International PLC), Lc Credit Agreement (Weatherford International PLC)

Independence of Covenants. All covenants contained in the this Agreement and each other Loan Documents Document shall be given independent effect so that if such that, in the event a particular action or condition is not permitted by any of such covenants, the fact that such action or condition it would be permitted by an exception to, or be otherwise be within the limitations of, another covenant shall not not, unless expressly so provided in such first covenant, avoid the occurrence of a Default or an Event of Default if such action is taken or such condition exists.

Appears in 3 contracts

Samples: Credit Agreement (Railamerica Inc /De), Credit Agreement (Railamerica Inc /De), Credit Agreement (Railamerica Inc /De)

Independence of Covenants. All covenants contained in under the Loan Documents shall be given independent effect so that if a particular action or condition is not permitted by any of such covenants, the fact that such action or condition it would be permitted by an exception to, or be otherwise be within the limitations of, another covenant shall not avoid the occurrence of a Default or an Event of Default if such action is taken or condition existstaken.

Appears in 3 contracts

Samples: Credit Agreement (Elizabeth Arden Inc), Credit Agreement (Elizabeth Arden Inc), Credit Agreement (Elizabeth Arden Inc)

Independence of Covenants. All covenants contained in under the Loan Documents shall be given independent effect so that if a particular action or condition is not permitted by any of such covenants, the fact that such action or condition it would be permitted by an exception to, or be otherwise be within the limitations of, another covenant shall not avoid the occurrence of a Default or an Event of Default if such action is taken or such condition exists.

Appears in 3 contracts

Samples: Term Loan Agreement (Smithfield Foods Inc), Term Loan Agreement (Smithfield Foods Inc), Term Loan Agreement (Smithfield Foods Inc)

Independence of Covenants. All covenants contained in under this Agreement and the other Loan Documents shall be given independent effect so that if a particular action or condition is not permitted by any of such covenants, the fact that such action or condition it would be permitted by an exception to, or would otherwise be within the limitations of, another covenant shall not avoid the occurrence of a Potential Event of Default or an Event of Default if such action is taken or condition exists.

Appears in 2 contracts

Samples: Security Agreement (Mbia Inc), Loan Agreement (Mbia Inc)

Independence of Covenants. All covenants contained in under the Loan Credit Documents shall be given independent effect so that if a particular action or condition is not permitted by any of such covenants, the fact that such action or condition it would be permitted by an exception to, or be otherwise be within the limitations of, another covenant shall not avoid the occurrence of a Default or an Event of Default in accordance with the applicable provision if such action is taken or such condition exists.

Appears in 2 contracts

Samples: Credit Agreement (Nutraceutical International Corp), Credit Agreement (Nutraceutical International Corp)

Independence of Covenants. All covenants contained in under this Agreement and the other Loan Documents shall be given independent effect so that if a particular action or condition is not permitted by any of such covenants, the fact that such action or condition it would be permitted by an exception to, or would otherwise be within the limitations of, another covenant shall not avoid the occurrence of a Default or an Event of Default if such action is taken or condition exists.

Appears in 2 contracts

Samples: Pledge and Security Agreement (Tesla Motors Inc), Intercompany Subordination Agreement (Tesla Motors Inc)

Independence of Covenants. All covenants contained in the this Agreement or any other Loan Documents Document shall be given independent effect so that if such that, in the event a particular action or condition is not permitted by any of such covenants, the fact that such action or condition it would be permitted by an exception to, or be otherwise be within the limitations of, another covenant shall not not, unless expressly so provided in such first covenant, avoid the occurrence of a Default or an Event of Default if such action is taken or such condition exists.

Appears in 2 contracts

Samples: Credit Agreement (Adt Limited), Credit Agreement (Adt Limited)

Independence of Covenants. All covenants contained in the under this Agreement and other Loan Documents shall be given independent effect so that if a particular action or condition is not permitted by any of such covenantsone covenant, the fact that such action or condition it would be permitted by an exception to, or otherwise be within the limitations of, another covenant shall not avoid the occurrence of a Default or an Event of Default or Default if such action is taken or condition exists.

Appears in 2 contracts

Samples: Credit and Guaranty Agreement (Ares Commercial Real Estate Corp), Credit and Guaranty Agreement (Hunt Companies Finance Trust, Inc.)

Independence of Covenants. All covenants contained in hereunder and under the Loan Documents shall be given independent effect so that if a particular action or condition is not permitted by any of such covenants, the fact that such action or condition it would be permitted by an exception to, or would otherwise be within the limitations of, another covenant shall not avoid the occurrence of a Potential Default or an Event of Default if such action is taken or condition exists.

Appears in 2 contracts

Samples: Credit Agreement (Interface Security Systems, L.L.C.), Credit Agreement (Interface Security Systems Holdings Inc)

Independence of Covenants. All covenants contained in and agreements hereunder and under the Loan Documents shall be given independent effect so that if a particular action or condition is not permitted by any of such covenantscovenants or agreements, the fact that such action or condition it would be permitted by an exception to, or would otherwise be within the limitations of, another covenant or agreement, shall not avoid the occurrence of a Default default or an Event of Default if such action is taken or such condition exists.

Appears in 2 contracts

Samples: Number 3 (Sanders Morris Harris Group Inc), Amendment Number 4 (Sanders Morris Harris Group Inc)

Independence of Covenants. All covenants contained in the Each covenant and agreement of each Borrower under each Loan Documents Document shall be given independent effect so that if a particular action or condition is not permitted prohibited or required by any of such covenantscovenant, the fact that such action or condition it would be permitted by an exception to, or be otherwise be within the limitations of, another covenant shall not avoid the occurrence of a Default or an Event of Default if such action is taken or condition exists.

Appears in 2 contracts

Samples: Credit Agreement (Lancer Corp /Tx/), Credit Agreement (Lancer Corp /Tx/)

Independence of Covenants. All covenants contained in the this Agreement or any other Loan Documents Document shall be given independent effect so that if such that, in the event a particular action or condition is not permitted by any of such covenants, the fact that such action or condition it would be permitted by an exception to, or be otherwise be within the limitations of, another covenant shall not avoid the occurrence of a Default or an Event of Default if such action is taken or such condition exists.

Appears in 2 contracts

Samples: Credit Agreement (Stillwater Mining Co /De/), Credit Agreement (Stillwater Mining Co /De/)

Independence of Covenants. All covenants contained in the under this Agreement and other Loan Documents shall be given independent effect so that if a particular action or condition is not permitted by any of such covenantsone covenant, the fact that such action or condition it would be permitted by an exception toanother covenant, or otherwise be within the limitations of, another covenant shall not avoid the occurrence of a an Event of Default or an Unmatured Event of Default if such action is taken or condition existsexists and otherwise constitutes or would constitute an Event of Default or Unmatured Event of Default under this Agreement.

Appears in 2 contracts

Samples: Credit Agreement (Kayne DL 2021, Inc.), Credit Agreement (Kayne Anderson BDC, Inc.)

Independence of Covenants. All of the covenants contained in this Agreement and the other Loan Documents shall be given independent effect so that if a particular action action, event or condition is not permitted prohibited by any one of such covenants, the fact that such action or condition it would be permitted by an exception to, or otherwise be in compliance within the limitations provisions of, another covenant shall not avoid the occurrence of a Default or an Event of Default if such action is taken taken, such event occurs or such condition exists.

Appears in 1 contract

Samples: Secured Senior Lending Agreement (Pioneer Financial Services Inc)

Independence of Covenants. All covenants contained in hereunder and under the other Loan Documents shall be given independent effect so that if a particular action or condition is not permitted by any of such covenants, the fact that such action or condition it would be permitted by an exception to, or would otherwise be within the limitations of, another covenant shall not avoid the occurrence of a Default or an Event of Default if such action is taken or condition exists.

Appears in 1 contract

Samples: Intercompany Subordination Agreement (Tesla Motors Inc)

Independence of Covenants. All covenants contained in the Each covenant and agreement of Borrower under each Loan Documents Paper shall be given independent effect so that that, if a particular action or condition is not permitted prohibited or required by any of such covenantscovenant, the fact that such action or condition it would be permitted by an exception to, or be otherwise be within the limitations of, another covenant shall not avoid the occurrence of a Default or an Event of Default if such action is taken or condition exists.

Appears in 1 contract

Samples: Credit Agreement (Packaged Ice Inc)

Independence of Covenants. All covenants contained in Each covenant and agreement of the Borrower under each Loan Documents Document shall be given independent effect so that that, if a particular action or condition is not permitted prohibited or required by any of such covenantscovenant, the fact that such action or condition it would be permitted by an exception to, or be otherwise be within the limitations of, another covenant shall not avoid the occurrence of a Default or an Event of Default if such action is taken or condition exists.

Appears in 1 contract

Samples: Credit Agreement (Dawson Production Services Inc)

Independence of Covenants. All covenants contained in under this Agreement and the other Loan Documents shall be given independent effect so that if a particular action or 128 condition is not permitted by any of such covenantscovenant, the fact that such action or condition it would be permitted by an exception to, or would be otherwise be within the limitations ofallowed by, another covenant shall not avoid the occurrence of a Default or an Event of Default if such action is taken or such condition exists.

Appears in 1 contract

Samples: Credit Agreement (Triangle Capital CORP)

Independence of Covenants. All covenants contained in this Agreement and in the other Loan Documents shall be given independent effect so that if a particular action or condition is not permitted by any of such covenants, the fact that such action or condition would be permitted by an exception to, or otherwise be within the limitations of, -114- 122 another covenant covenant, shall not avoid the occurrence of a Default or an Event of Default if such action is taken or condition exists.

Appears in 1 contract

Samples: Credit Agreement (Evi Inc)

Independence of Covenants. All covenants contained in under this Guarantee and the other Loan Documents shall be given independent effect so that if a particular action or condition is not permitted by any of such covenants, the fact that such action or condition it would be permitted by an exception to, or would otherwise be within the limitations of, another covenant shall not avoid the occurrence of a Default or an Event of Default if such action is taken or condition exists.

Appears in 1 contract

Samples: Guarantee (Tesla Motors Inc)

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Independence of Covenants. All covenants contained in under the Loan Documents shall be given independent effect so that if a particular action or condition is not permitted by any of such covenants, the fact that such action or condition it would be permitted by an exception to, or be otherwise be within the limitations of, another covenant shall not avoid the occurrence of a Default or an Event of Default if such action is taken or such condition exists.. SECOND AMENDED AND RESTATED REVOLVING CREDIT FACILITY AGREEMENT, Page — 88

Appears in 1 contract

Samples: Revolving Credit Facility Agreement (Lennox International Inc)

Independence of Covenants. All covenants contained in under the Loan Documents shall be given independent effect so that that, if a particular action or condition is not permitted by any of such covenants, the fact that such action or condition it would be permitted by an exception to, or be otherwise be within the limitations permissions of, another covenant shall not avoid the occurrence of a Default or an Event of Default if such action is taken or such condition exists.

Appears in 1 contract

Samples: Credit Agreement (Universal Power Group Inc.)

Independence of Covenants. All covenants contained in under the Loan Documents loan documents shall be given independent effect so that if a particular action or condition is not permitted by any of such covenants, the fact that such action or condition it would be permitted by an exception to, or be otherwise be within the limitations of, another covenant shall not avoid the occurrence of a Default or an Event of Default default if such action is taken or such condition exists.

Appears in 1 contract

Samples: Credit Agreement (Software Spectrum Inc)

Independence of Covenants. All covenants contained in the Loan Documents this Guarantee or any other Finance Document shall be given independent effect so that if such that, in the event a particular action or condition is not permitted by any of such covenants, the fact that such action or condition it would be permitted by an exception to, or be otherwise be within the limitations of, another covenant shall not not, unless expressly so provided in such first covenant, avoid the occurrence of a Default or an Event of Default if such action is taken or such condition exists.

Appears in 1 contract

Samples: Adt Limited

Independence of Covenants. All Except as expressly stated herein, all covenants contained in hereunder and under the other Loan Documents shall be given independent effect so that if a particular action or condition is not permitted by any of such covenants, the fact that such action or condition it would be permitted by an exception to, or would otherwise be within the limitations of, another covenant shall not avoid the occurrence of a Default or an Event of Default if such action is taken or condition exists.

Appears in 1 contract

Samples: Loan Arrangement and Reimbursement Agreement (Ford Motor Co)

Independence of Covenants. All covenants contained in under this Agreement and the other Loan Documents shall be given independent effect so that if a particular action or condition is not permitted by any of such covenantscovenant, the fact that such action or condition it would be permitted by an exception to, or would be otherwise be within the limitations ofallowed by, another covenant shall not avoid the occurrence of a Default or an Event of Default if such action is taken or such condition exists.. 101

Appears in 1 contract

Samples: Credit Agreement (Triangle Capital CORP)

Independence of Covenants. All covenants contained in under the Loan Documents shall be given independent effect so that if a particular action or condition is not permitted by any of such covenants, the fact that such action or condition it would be permitted by an exception to, or be otherwise be within the limitations 105 CHAR1\1991350v2 of, another covenant shall not avoid the occurrence of a Default or an Event of Default if such action is taken or such condition exists.

Appears in 1 contract

Samples: Credit Agreement (Williams Sonoma Inc)

Independence of Covenants. All covenants contained in the Loan Documents and the Revolving Loan Documents shall be given independent effect so that if a particular action or condition is not permitted by any of such covenants, the fact that such action or condition would be permitted by an exception to, or otherwise be within the limitations of, another covenant shall not avoid the occurrence of a Default or an Event of Default hereunder or a "Default" or an "Event of Default" under the Revolving Credit Agreement if such action is taken or condition exists.

Appears in 1 contract

Samples: Acquisition Credit Agreement (Costilla Energy Inc)

Independence of Covenants. All covenants contained in under this Agreement and the other Loan Documents shall be given independent effect so that if a particular action or condition is not permitted by any of such covenantscovenant, the fact that such action or condition it would be permitted by an exception to, or would be otherwise be within the limitations ofallowed by, another covenant shall not avoid the occurrence of a Default or an Event of Default if such action is taken or such condition exists.. (Remainder of this page intentionally left blank)

Appears in 1 contract

Samples: Day Credit Agreement (Liberty Corp)

Independence of Covenants. All covenants contained in the this -------------------------- Agreement or any other Loan Documents Document shall be given independent effect so that if such that, in the event a particular action or condition is not permitted by any of such covenants, the fact that such action or condition it would be permitted by an exception to, or be otherwise be within the limitations of, another covenant shall not avoid the occurrence of a Default or an Event of Default if such action is taken or such condition exists.

Appears in 1 contract

Samples: Credit Agreement (Stillwater Mining Co /De/)

Independence of Covenants. All covenants contained in the Loan Documents and the Acquisition Loan Documents shall be given independent effect so that if a particular action or condition is not permitted by any of such covenants, the fact that such action or condition would be permitted by an exception to, or otherwise be within the limitations of, another covenant shall not avoid the occurrence of a Default hereunder of a "Default" or an "Event of Default" under the Acquisition Credit Agreement or an Event of Default if such action is taken or condition exists.

Appears in 1 contract

Samples: Credit Agreement (Costilla Energy Inc)

Independence of Covenants. All covenants contained in this Agreement and in the other Loan Documents shall be given independent effect so that if a particular action or condition is not permitted by any of such covenants, the fact that such action or condition would be permitted by an exception to, or otherwise be within the limitations of, another covenant shall not avoid the occurrence of a Default or an Event of Default if such action is taken or condition exists.condition

Appears in 1 contract

Samples: Credit Agreement (Weatherford International Inc /New/)

Independence of Covenants. All covenants contained in this Agreement and in the other Loan Documents shall be given independent effect so that if a particular action or condition is not permitted by any of such covenants, the fact that such action or condition would be permitted by an exception to, or otherwise be within the limitations of, another covenant covenant, shall not avoid the occurrence of a Default or an Event of Default if such action is taken or condition exists.. 77

Appears in 1 contract

Samples: Credit Agreement (Weatherford International LTD)

Independence of Covenants. All covenants contained in the under this Agreement and other Loan Documents shall be given independent effect so that if a particular action or condition is not permitted by any of such covenantsone covenant, the fact that such action or condition it would be permitted by an exception to, or otherwise be within the limitations of, another covenant shall not avoid the occurrence of a Default or an Event of Default or Default if such action is taken or condition exists.. 11.12

Appears in 1 contract

Samples: Credit and Guaranty Agreement (Ares Commercial Real Estate Corp)

Independence of Covenants. All of the covenants contained in this Agreement and the other Loan Documents shall be given independent effect so that if a particular action action, event or condition is not permitted prohibited by any one of such covenants, the fact that such action or condition it would be permitted by an exception to, or otherwise be in compliance within the limitations provisions of, another covenant shall not avoid the occurrence of a Default or an Event of Default if such action is taken taken, such event occurs or such condition exists.

Appears in 1 contract

Samples: Security Agreement (Torch Offshore Inc)

Independence of Covenants. All covenants contained in this Agreement and the other Loan Documents shall are to be given independent effect so that if a particular action or condition is not permitted by any of such covenantsa covenant, the fact that such action or condition it would be permitted by an exception to, or would be otherwise be within the limitations of, another covenant shall does not avoid the occurrence of a Default or an Event of Default if such action is taken or such condition exists.

Appears in 1 contract

Samples: Revolving Credit and Loan Agreement (Universal Standard Medical Laboratories Inc)

Independence of Covenants. All covenants contained in under this Agreement and the other Loan Documents shall be given independent effect so that if a particular action or condition is not permitted by any of such covenantscovenant, the fact that such action or condition it would be permitted by an exception to, or would be otherwise be within the limitations ofallowed by, another covenant shall not avoid the occurrence of a Default or an Event of Default if such action is taken or such condition exists.

Appears in 1 contract

Samples: Assignment and Assumption Agreement (Construction Partners, Inc.)

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