Common use of Independent Obligation Clause in Contracts

Independent Obligation. The obligations of each Guarantor hereunder are independent of the obligations of any other guarantor or any Borrower, and a separate action or actions may be brought and prosecuted against each Guarantor whether or not action is brought against any other guarantor or any Borrower and whether or not any other Guarantor or any Borrower be joined in any such action or actions. Each Guarantor waives, to the fullest extent permitted by law, the benefit of any statute of limitations affecting its liability hereunder or the enforcement thereof. Any payment by any Borrower or other circumstance which operates to toll any statute of limitations as to such Borrower shall operate to toll the statute of limitations as to each Guarantor.

Appears in 7 contracts

Samples: Credit Agreement (Artesyn Technologies Inc), Pledge Agreement (Foster Wheeler Corp), Credit Agreement (Foster Wheeler LTD)

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Independent Obligation. The obligations of each the Guarantor hereunder are independent of the obligations of any other guarantor or any the Borrower, and a separate action or actions may be brought and prosecuted against each the Guarantor whether or not action is brought against any other guarantor or any the Borrower and whether or not any other Guarantor guarantor or any the Borrower be joined in any such action or actions. Each The Guarantor waives, to the fullest extent permitted by law, the benefit of any statute of limitations affecting its liability hereunder or the enforcement thereof. Any payment by any the Borrower or other circumstance which operates to toll any statute of limitations as to such the Borrower shall operate to toll the statute of limitations as to each the Guarantor.

Appears in 7 contracts

Samples: Sea Containers LTD /Ny/, Nabisco Credit Agreement (RJR Nabisco Inc), Credit Agreement (Nabisco Inc)

Independent Obligation. The obligations of each Guarantor hereunder are independent of the obligations of any other guarantor Guarantor or any the Borrower, and a separate action or actions may be brought and prosecuted against each Guarantor whether or not action is brought against any other guarantor Guarantor or any the Borrower and whether or not any other Guarantor guarantor or any the Borrower be joined in any such action or actions. Each Guarantor waives, to the fullest extent permitted by law, the benefit of any statute of limitations affecting its liability hereunder or the enforcement thereof. Any payment by any the Borrower or other circumstance circumstances which operates operate to toll any statute of limitations as to such the Borrower shall operate to toll the statute of limitations as to each Guarantor.

Appears in 4 contracts

Samples: Credit and Guarantee Agreement (Northwest Airlines Corp), Credit and Guarantee Agreement (Northwest Airlines Corp), bankrupt.com

Independent Obligation. The obligations of each Guarantor hereunder are independent of the obligations of any other guarantor or any the Borrower, and a separate action or actions may be brought and prosecuted against each Guarantor whether or not action is brought against any other guarantor or any the Borrower and whether or not any other Guarantor guarantor or any the Borrower be joined in any such action or actions. Each Guarantor waives, to the fullest extent permitted by law, the benefit of any statute of limitations affecting its liability hereunder or the enforcement thereof. Any payment by any the Borrower or other circumstance which operates to toll any statute of limitations as to such the Borrower shall operate to toll the statute of limitations as to each Guarantor.

Appears in 4 contracts

Samples: Credit Agreement (Northwest Airlines Corp), Credit Agreement (Northwest Airlines Corp), Credit Agreement (Northwest Airlines Corp)

Independent Obligation. The obligations of each Guarantor ---------------------- hereunder are independent of the obligations of any other guarantor or any the Borrower, and a separate action or actions may be brought and prosecuted against each Guarantor whether or not action is brought against any other guarantor or any the Borrower and whether or not any other Guarantor guarantor or any the Borrower be joined in any such action or actions. Each Guarantor waives, to the fullest extent permitted by law, the benefit of any statute of limitations affecting its liability hereunder or the enforcement thereof. Any payment by any the Borrower or other circumstance which operates to toll any statute of limitations as to such the Borrower shall operate to toll the statute of limitations as to each Guarantor.

Appears in 3 contracts

Samples: Credit Agreement (Coinmach Laundry Corp), Credit Agreement (Coinmach Corp), Credit Agreement (Coinmach Laundry Corp)

Independent Obligation. The obligations of each Guarantor hereunder are independent of the obligations of any other guarantor or any the Borrower, and a separate action or actions may be brought and prosecuted against each Guarantor whether or not action is brought against any other guarantor or any the Borrower and whether or not any other Guarantor or any the Borrower be joined in any such action or actions. Each Guarantor waives, to the fullest extent permitted by law, the benefit of any statute of limitations affecting its liability hereunder or the enforcement thereof. Any payment by any the Borrower or other circumstance which operates to toll any statute of limitations as to such the Borrower shall operate to toll the statute of limitations as to each Guarantor. Section 9.05.

Appears in 2 contracts

Samples: Pledge Agreement (Foster Wheeler Corp), Pledge Agreement Pledge Agreement (Foster Wheeler Corp)

Independent Obligation. The obligations of each Parent Guarantor hereunder are independent of the obligations of any other guarantor Parent Guarantor, any other guarantor, any other party or any the Borrower, and a separate action or actions may be brought and prosecuted against each Parent Guarantor whether or not action is brought against any other guarantor Parent Guarantor, any other guarantor, any other party or any the Borrower and whether or not any other Guarantor guarantor, any other party or any the Borrower be joined in any such action or actions. Each Guarantor waives, to the fullest extent permitted by law, the benefit of any statute of limitations affecting its liability hereunder or the enforcement thereof. Any payment by any the Borrower or other circumstance which operates to toll any statute of limitations as to such the Borrower shall operate to toll the statute of limitations as to each any Parent Guarantor.

Appears in 2 contracts

Samples: Credit Agreement (Pool Energy Services Co), Pledge Agreement (Pool Energy Services Co)

Independent Obligation. The obligations of each Guarantor hereunder are independent of the obligations of any other guarantor or any the Borrower, and a separate action or actions may be brought and prosecuted against each Guarantor whether or not action is brought against any other guarantor or any the Borrower and whether or not any other Guarantor or any the Borrower be joined in any such action or actions. Each Guarantor waives, to the fullest extent permitted by law, the benefit of any statute of limitations affecting its liability hereunder or the enforcement thereof. Any payment by any the Borrower or other circumstance which operates to toll any statute of limitations as to such the Borrower shall operate to toll the statute of limitations as to each Guarantor.

Appears in 2 contracts

Samples: Credit Agreement (Foster Wheeler Corp), Credit Agreement (Foster Wheeler Corp)

Independent Obligation. The obligations of each Guarantor hereunder are independent of the obligations of any other guarantor or any Borrower, and a separate action or actions may be brought and prosecuted against each Guarantor whether or not action is brought against any other guarantor or any Borrower and whether or not any other Guarantor guarantor or any Borrower be joined in any such action or actions. Each Guarantor waives, to the fullest extent permitted by law, the benefit of any statute of limitations affecting its liability hereunder or the enforcement thereof. Any payment by any Borrower Guarantor or other circumstance which operates to toll any statute of limitations as to such Borrower Guarantor shall operate to toll the statute of limitations as to Borrower and each Guarantor.

Appears in 1 contract

Samples: Credit Agreement (Ensco International Inc)

Independent Obligation. The obligations of each the Guarantor hereunder are independent of the obligations of any other guarantor or any the Borrower, and a separate action or actions may be brought and prosecuted against each the Guarantor whether or not action is brought against any other guarantor or any the Borrower and whether or not any other Guarantor guarantor or any the Borrower be joined in any such action or actions. Each The Guarantor waives, to the fullest extent permitted by law, the benefit of any statute of limitations affecting its liability hereunder or the enforcement thereof. Any payment by any the Borrower or other circumstance which operates to toll any statute of limitations as to such the Borrower shall shall, to the fullest extent permitted by law, operate to toll the statute of limitations as to each the Guarantor.

Appears in 1 contract

Samples: Credit Agreement (Jorgensen Earle M Co /De/)

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Independent Obligation. The obligations of each the Guarantor hereunder are ---------------------- independent of the obligations of any other guarantor or any the Borrower, and a separate action or actions may be brought and prosecuted against each the Guarantor whether or not action is brought against any other guarantor or any the Borrower and whether or not any other Guarantor guarantor or any the Borrower be joined in any such action or actions. Each The Guarantor waives, to the fullest extent permitted by law, the benefit of any statute of limitations affecting its liability hereunder or the enforcement thereof. Any payment by any the Borrower or other circumstance which operates to toll any statute of limitations as to such the Borrower shall shall, to the fullest extent permitted by law, operate to toll the statute of limitations as to each the Guarantor.

Appears in 1 contract

Samples: Intercreditor Agreement (Jorgensen Earle M Co /De/)

Independent Obligation. The obligations of each the Guarantor ---------------------- hereunder are independent of the obligations of any other guarantor or any the Borrower, and a separate action or actions may be brought and prosecuted against each the Guarantor whether or not action is brought against any other guarantor or any the Borrower and whether or not any other Guarantor guarantor or any the Borrower be joined in any such action or actions. Each The Guarantor waives, to the fullest extent permitted by law, the benefit of any statute of limitations affecting its liability hereunder or the enforcement thereof. Any payment by any the Borrower or other circumstance which operates to toll any statute of limitations as to such the Borrower shall shall, to the fullest extent permitted by law, operate to toll the statute of limitations as to each the Guarantor.

Appears in 1 contract

Samples: Credit Agreement (Jorgensen Earle M Co /De/)

Independent Obligation. The obligations of each the Guarantor ---------------------- hereunder are independent of the obligations of any other guarantor or any the Borrower, and a separate action or actions may be brought and prosecuted against each the Guarantor whether or not action is brought against any other guarantor or any the Borrower and whether or not any other Guarantor guarantor or any the Borrower be joined in any such action or actions. Each The Guarantor waives, to the fullest extent permitted by law, the benefit of any statute of limitations affecting its liability hereunder or the enforcement thereof. Any payment by any the Borrower or other circumstance which operates to toll any statute of limitations as to such the Borrower shall operate to toll the statute of limitations as to each the Guarantor.

Appears in 1 contract

Samples: Assignment Agreement (RJR Nabisco Inc)

Independent Obligation. The obligations of each Subsidiary Guarantor hereunder are independent of the obligations of any other guarantor or any Borrower, and a separate action or actions may be brought and prosecuted against each Subsidiary Guarantor whether or not action is brought against any other guarantor or any Borrower and whether or not any other Guarantor guarantor or any Borrower be joined in any such action or actions. Each Subsidiary Guarantor waives, to the fullest extent permitted by law, the benefit of any statute of limitations affecting its liability hereunder or the enforcement thereof. Any payment by any Borrower or other circumstance which operates to toll any statute of limitations as to such Borrower shall operate to toll the statute of limitations as to each Subsidiary Guarantor.. CREDIT AGREEMENT

Appears in 1 contract

Samples: Credit Agreement (Affiliated Computer Services Inc)

Independent Obligation. The obligations of each Guarantor hereunder are independent of the obligations of any other guarantor Guarantor or any the Borrower, and a separate action or actions may be brought and prosecuted against each Guarantor whether or not action is brought against any other guarantor Guarantor or any the Borrower and whether or not any other Guarantor or any the Borrower be joined in any such action or actions. Each Guarantor waives, to the fullest extent permitted by law, the benefit of any statute of limitations affecting its liability hereunder or the enforcement thereof. Any payment by any the Borrower or other circumstance which operates circumstances that operate to toll any statute of limitations as to such the Borrower shall operate to toll the statute of limitations as to each Guarantor.

Appears in 1 contract

Samples: Credit Agreement (Northwest Airlines Corp)

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