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, any other guarantor or 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, any other guarantor or the Borrower and whether or not any other Guarantor, any other guarantor or 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 the Borrower or other circumstance which operates to toll any statute of limitations as to the Borrower shall operate to toll the statute of limitations as to the Guarantor.

Appears in 8 contracts

Samples: Entire Agreement (Greenville Tube CO), Credit Agreement (Globalstar Lp), Assignment and Acceptance Agreement (Amr Corp)

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

Appears in 3 contracts

Samples: Credit Agreement (Alpine Group Inc /De/), Credit Agreement (Superior Telecom Inc), Credit Agreement (Alpine Group Inc /De/)

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

Appears in 2 contracts

Samples: Credit Agreement (Superior Telecom Inc), Revolving Credit Agreement (Superior Telecom Inc)

Independent Obligation. The obligations of each Guarantor the Applicable Guarantors hereunder are independent of the obligations of any other Guarantorguarantor, any other guarantor party or the BorrowerBorrowers, and a separate action or actions may be brought and prosecuted against each Guarantor the Applicable Guarantors whether or not action is brought against any other Guarantorguarantor, any other guarantor party or the Borrower Borrowers and whether or not any other Guarantorguarantor, any other guarantor party or the Borrower Borrowers be joined in any such action or actions. Each Guarantor waivesThe Applicable Guarantors waive, 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 the Borrower Borrowers or other circumstance which operates to toll any statute of limitations as to the Borrower Borrowers shall operate to toll the statute of limitations as to the GuarantorApplicable Guarantors.

Appears in 2 contracts

Samples: Credit Agreement (International Money Express, Inc.), Credit Agreement (Fintech Acquisition Corp. II)

Independent Obligation. The obligations of each Guarantor hereunder are independent of the obligations of any other Guarantor, any other other, guarantor or 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, any other guarantor or the Borrower and whether or not any other Guarantor, any other guarantor or 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 the Borrower or other circumstance which operates to toll any statute of limitations as to the Borrower shall operate to toll the statute of limitations as to the Guarantor.

Appears in 2 contracts

Samples: Possession Credit Agreement (Globalstar Lp), Globalstar Telecommunications LTD

Independent Obligation. The obligations of each Guarantor hereunder are independent of the obligations of any other Guarantor, any other guarantor or the BorrowerBorrowers, and a separate action or actions may be brought and prosecuted against each Guarantor whether or not action is brought against any other Guarantor, any other guarantor or the either Borrower and whether or not any other Guarantor, any other guarantor or the Borrower Borrowers 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 the Borrower Borrowers or other circumstance which operates to toll any statute of limitations as to the Borrower Borrowers shall operate to toll the statute of limitations as to the Guarantor.

Appears in 2 contracts

Samples: Credit Agreement (Trico Marine Services Inc), Credit Agreement (Trico Marine Services Inc)

Independent Obligation. The obligations of each Parent Guarantor hereunder are independent of the obligations of any the other Parent Guarantor, any other guarantor or the Borrower, and a separate action or actions may be brought and prosecuted against each either Parent Guarantor whether or not action is brought against any the other Parent Guarantor, any other guarantor or the Borrower and whether or not any the other Parent Guarantor, any other guarantor or the Borrower be joined in any such action or actions. Each Parent 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 the Borrower or other circumstance which operates to toll any statute of limitations as to the Borrower shall operate to toll the statute of limitations as to the each Parent Guarantor.

Appears in 1 contract

Samples: Credit Agreement (Host Marriott Corp/Md)

Independent Obligation. The obligations of each Guarantor hereunder are independent of the obligations of any other Guarantor, any other guarantor or 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, any other guarantor or the Borrower and whether or not any other Guarantor, any other guarantor or the Borrower be is 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 the Borrower or other circumstance which operates to toll any statute of limitations as to the Borrower shall operate to toll the statute of limitations as to the Guarantor.

Appears in 1 contract

Samples: Credit Agreement (Classic Cable Inc)

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Independent Obligation. The obligations of each Guarantor hereunder are independent of the obligations -108- 115 of any other Guarantor, any other guarantor or of 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, any other guarantor or of the Borrower and whether or not any other Guarantor, any other guarantor or 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 the Borrower or other circumstance which operates to toll any statute of limitations as to the Borrower shall operate to toll the statute of limitations as to the each Guarantor.

Appears in 1 contract

Samples: Pledge Agreement (Pueblo Xtra International Inc)

Independent Obligation. The obligations of each Guarantor hereunder are independent of the obligations 115 of any other Guarantor, any other guarantor or of 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, any other guarantor or of the Borrower and whether or not any other Guarantor, any other guarantor or 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 the Borrower or other circumstance which operates to toll any statute of limitations as to the Borrower shall operate to toll the statute of limitations as to the each Guarantor.

Appears in 1 contract

Samples: Credit Agreement (Pueblo Xtra International Inc)

Independent Obligation. The obligations of each Guarantor of the Parent Guarantors hereunder are independent of the obligations of any other Guarantorguarantor, any other guarantor party or the Borrower, and a separate action or actions may be brought and prosecuted against each Guarantor of the Parent Guarantors whether or not action is brought against any other Guarantorguarantor, any other guarantor party or the Borrower and whether or not any other Guarantorguarantor, any other guarantor party or the Borrower be joined in any such action or actions. Each Guarantor of the Parent Guarantors 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 the Borrower or other circumstance which operates to toll any statute of limitations as to the Borrower shall operate to toll the statute of limitations as to each of the GuarantorParent Guarantors.

Appears in 1 contract

Samples: Credit Agreement (Information Holdings Inc)

Independent Obligation. The obligations of each Guarantor hereunder are independent of the obligations of any other Guarantor, any other guarantor or the Borrower, and a separate action or actions may be brought and prosecuted against each Guarantor Guarantor, whether or not action is brought against any other Guarantor, any other guarantor or the Borrower Borrowers and whether or not any other Guarantor, any other guarantor or the 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 the Borrower or other circumstance which operates operating to toll any statute of limitations as to the Borrower shall operate to toll the statute of limitations as to the Guarantor.

Appears in 1 contract

Samples: Credit Agreement

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

Appears in 1 contract

Samples: Loan Agreement (Grey Wolf Inc)

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