Independent Effect of Covenants. Each of the Borrower and the other Credit Parties expressly acknowledges and agrees that each covenant contained in Article VIII, IX, X or XI hereof shall be given independent effect. Accordingly, each of the Borrower and the other Credit Parties shall not engage in any transaction or other act otherwise permitted under any covenant contained in Article VIII, IX, X or XI if, before or after giving effect to such transaction or act, the Borrower or such other Credit Party shall or would be in breach of any other covenant contained in Article VIII, IX, X or XI.
Appears in 5 contracts
Samples: Credit Agreement (Fossil Inc), Credit Agreement (Fossil Group, Inc.), Credit Agreement (Fossil Group, Inc.)
Independent Effect of Covenants. Each of the Borrower Borrowers and the other Credit Parties expressly acknowledges and agrees that each covenant contained in Article VIII, IX, X or XI hereof shall be given independent effect. Accordingly, each of the Borrower Borrowers and the other Credit Parties shall not engage in any transaction or other act otherwise permitted under any covenant contained in Article VIII, IX, X or XI if, before or after giving effect to such transaction or act, the any Borrower or such other Credit Party shall or would be in breach of any other covenant contained in Article VIII, IX, X or XI.
Appears in 2 contracts
Samples: Credit Agreement (Alon Brands, Inc.), Credit Agreement (Alon USA Energy, Inc.)
