Common use of Joint and Several Liability of Borrowers Clause in Contracts

Joint and Several Liability of Borrowers. (a) Notwithstanding anything in this Agreement or any other Financing Agreements to the contrary, each Borrower, jointly and severally, in consideration of the financial accommodations to be provided by Agent and Lenders under this Agreement and the other Financing Agreements, for the mutual benefit, directly and indirectly, of each Borrower and in consideration of the undertakings of the other Borrowers to accept joint and several liability for the Obligations, hereby irrevocably and unconditionally accepts, not merely as a surety but also as a co-debtor, joint and several liability with the other Borrowers, with respect to the payment and performance of all of the Obligations, it being the intention of the parties hereto that all of the Obligations shall be the joint and several obligations of each Borrower without preferences or distinction among them. Borrowers shall be liable for all amounts due to Agent and Lenders under this Agreement, regardless of which Borrower actually receives the Loans or Letter of Credit Obligations hereunder or the amount of such Revolving Loans received or the manner in which Agent or any Lender accounts for such Loans, Letter of Credit Obligations or other extensions of credit on its books and records. The Obligations of Borrowers with respect to Revolving Loans made to one of them, and the Obligations arising as a result of the joint and several liability of one of the Borrowers hereunder with respect to Revolving Loans made to the other of the Borrowers hereunder, shall be separate and distinct obligations, but all such other Obligations shall be primary obligations of all Borrowers.

Appears in 3 contracts

Samples: Loan and Security Agreement (Nci Building Systems Inc), Loan and Security Agreement (Nci Building Systems Inc), Loan and Security Agreement (Nci Building Systems Inc)

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Joint and Several Liability of Borrowers. (a) Notwithstanding anything in this Agreement or any other Financing Agreements Loan Documents to the contrary, each Borrower, jointly and severally, in consideration of the financial accommodations to be provided by the Administrative Agent and Lenders under this Agreement and the other Financing AgreementsLoan Documents, for the mutual benefit, directly and indirectly, of each Borrower and in consideration of the undertakings of the other Borrowers to accept joint and several liability for the Obligations, hereby irrevocably and unconditionally accepts, not merely as a surety but also as a co-debtor, joint and several liability with the other Borrowers, with respect to the payment and performance of all of the Obligations, it being the intention of the parties hereto that all of the Obligations shall be the joint and several obligations of each Borrower without preferences or distinction among them. Borrowers shall be liable for all amounts due to Administrative Agent and Lenders under this Agreement, regardless of which Borrower actually receives the Loans or Letter Letters of Credit Obligations hereunder or the amount of such Revolving Loans received or the manner in which the Administrative Agent or any Lender accounts for such Loans, Letter of Credit Obligations LC Exposure or other extensions of credit on its books and records. The Obligations of Borrowers with respect to Revolving Loans made to one of them, and the Obligations arising as a result of the joint and several liability of one of the Borrowers hereunder with respect to Revolving Loans made to the other of the Borrowers hereunder, shall be separate and distinct obligations, but all such other Obligations shall be primary obligations of all Borrowers.

Appears in 3 contracts

Samples: Credit Agreement (Party City Holdco Inc.), Credit Agreement (Party City Holdco Inc.), Credit Agreement (Party City Holdco Inc.)

Joint and Several Liability of Borrowers. (a) Notwithstanding anything in this Agreement or any other Financing Agreements Loan Documents to the contrary, each Borrower, jointly and severally, in consideration of the financial accommodations to be provided by the Administrative Agent and Lenders under this Agreement and the other Financing AgreementsLoan Documents, for the mutual benefit, directly and indirectly, of each Borrower and in consideration of the undertakings of the other Borrowers to accept joint and several liability for the Obligations, hereby irrevocably and unconditionally accepts, not merely as a surety but also as a co-debtor, joint and several liability with the other Borrowers, with respect to the payment and performance of all of the Obligations, it being the intention of the parties hereto that all of the Obligations shall be the joint and several obligations of each Borrower without the preferences or distinction among them. The Borrowers shall be liable for all amounts due to the Administrative Agent and Lenders under this Agreement, regardless of which Borrower actually receives the Loans or Letter Letters of Credit Obligations hereunder or the amount of such Revolving Loans received or the manner in which the Administrative Agent or any Lender accounts for such Loans, Letter of Credit Obligations LC Exposure or other extensions of credit on its books and records. The Obligations of the Borrowers with respect to Revolving Loans made to one of them, and the Obligations arising as a result of the joint and several liability of one of the Borrowers hereunder with respect to Revolving Loans made to the other of the Borrowers hereunder, shall be separate and distinct obligations, but all such other Obligations shall be primary obligations of all Borrowers.

Appears in 2 contracts

Samples: Credit Agreement (Ollie's Bargain Outlet Holdings, Inc.), Credit Agreement (Ollie's Bargain Outlet Holdings, Inc.)

Joint and Several Liability of Borrowers. (a) Notwithstanding anything in this Agreement or any other Financing Agreements Loan Documents to the contrary, each Borrower, jointly and severally, in consideration of the financial accommodations to be provided by the Administrative Agent and Lenders under this Agreement and the other Financing AgreementsLoan Documents, for the mutual benefit, directly and indirectly, of each Borrower and in consideration of the undertakings of the other Borrowers to accept joint and several liability for the Obligations, hereby irrevocably and unconditionally accepts, not merely as a surety but also as a co-debtor, joint and several liability with the other Borrowers, with respect to the payment and performance of all of the Obligations, it being the intention of the parties hereto that all of the Obligations shall be the joint and several obligations of each Borrower without preferences or distinction among them. Borrowers shall be liable for all amounts due to Administrative Agent and Lenders under this Agreement, regardless of which Borrower actually receives the Loans or Letter of Credit Obligations hereunder or the amount of such Revolving Loans received or the manner in which the Administrative Agent or any Lender accounts for such Loans, Letter of Credit Obligations Loans or other extensions of credit on its books and records. The Obligations of Borrowers with respect to Revolving Loans made to one of them, and the Obligations arising as a result of the joint and several liability of one of the Borrowers hereunder with respect to Revolving Loans made to the other of the Borrowers hereunder, shall be separate and distinct obligations, but all such other Obligations shall be primary obligations of all Borrowers.

Appears in 2 contracts

Samples: Credit Agreement (Party City Holdco Inc.), Credit Agreement (Am-Source, LLC)

Joint and Several Liability of Borrowers. (a) Notwithstanding anything in this Agreement or any other Financing Agreements to Each of the contrary, each Borrower, Borrowers shall be jointly and severally, in consideration of the financial accommodations to be provided by Agent severally liable hereunder and Lenders under this Agreement and the other Financing Agreements, for the mutual benefit, directly and indirectly, of each Borrower and in consideration of the undertakings of the other Borrowers to accept joint and several liability for the Obligations, hereby irrevocably and unconditionally accepts, not merely as a surety but also as a co-debtor, joint and several liability with the other Borrowers, Credit Documents with respect to the payment and performance of all of the Postpetition Obligations, it being the intention of the parties hereto that all of the Obligations shall be the joint and several obligations of each Borrower without preferences or distinction among them. Borrowers shall be liable for all amounts due to Agent and Lenders under this Agreement, regardless of which Borrower of the Borrowers actually receives the proceeds of the Loans or Letter the benefit of Credit Obligations any other extensions of credit hereunder or the amount of such Revolving Loans received or the manner in which the LFC Funds Administrator, the Borrowers, the Agent or any Lender accounts for such Loans, Letter of Credit Obligations or other extensions of credit on its the Lenders account therefor in their respective books and records. The Obligations of Borrowers Notwithstanding the foregoing, (A) each Borrower's obligations and liabilities with respect to Revolving proceeds of Loans made to one that it receives or Letters of themCredit issued for its account, and the Obligations related fees, costs and expenses, and (B) its obligations and liabilities, arising as a result of the joint and several liability of one of the Borrowers hereunder hereunder, with respect to Revolving proceeds of Loans made to received by, or Letters of Credit issued for the account of, any of the other of the Borrowers hereunder, together with the related fees, costs and expenses, shall be separate and distinct obligations, but all such other Obligations shall be both of which are primary obligations of such Borrower. Neither the joint and several liability of, nor the Liens granted to the Collateral Agent under the Collateral Documents by, any of the Borrowers shall be impaired or released by any action or inaction on the Agent's or any Lender's part, or any other event or condition with respect to any other Borrower, including any such action or inaction or other event or condition, that might otherwise constitute a defense available to, or a discharge of, such other Borrower, or a guarantor or surety of or for any or all Borrowersof the Postpetition Obligations or Prepetition Obligations.

Appears in 1 contract

Samples: Postpetition Credit Agreement (Levitz Furniture Corp /Fl/)

Joint and Several Liability of Borrowers. (a) Notwithstanding anything in this Agreement or any other Financing Agreements Loan Documents to the contrary, each Borrower, jointly and severally, in consideration of the financial accommodations to be provided by the Administrative Agent and Lenders under this Agreement and the other Financing AgreementsLoan Documents, for the mutual benefit, directly and indirectly, of each Borrower and in consideration of the undertakings of the other Borrowers to accept joint and several liability for the Obligations, hereby irrevocably and unconditionally accepts, not merely as a surety but also as a co-debtor, joint and several liability with the other Borrowers, with respect to the payment and performance of all of the Obligations, it being the intention of the parties hereto that all of the Obligations shall be the joint and several obligations of each Borrower without preferences or distinction among them. Borrowers shall be liable for all amounts due to Administrative Agent and Lenders under this Agreement, regardless of which Borrower Xxxxxxxx actually receives the Term Loans or Letter of Credit Obligations hereunder or the amount of such Revolving Term Loans received or the manner in which the Administrative Agent or any Lender accounts for such Loans, Letter of Credit Obligations Term Loans or other extensions of credit on its books and records. The Obligations of Borrowers with respect to Revolving Term Loans made to one of them, and the Obligations arising as a result of the joint and several liability of one of the Borrowers hereunder with respect to Revolving Term Loans made to the other of the Borrowers hereunder, shall be separate and distinct obligations, but all such other Obligations shall be primary obligations of all Borrowers.

Appears in 1 contract

Samples: Credit Agreement (Party City Holdco Inc.)

Joint and Several Liability of Borrowers. (a) Notwithstanding anything in this Agreement or any Each Borrower is accepting joint and several liability hereunder and under the other Financing Agreements to the contrary, each Borrower, jointly and severally, Loan Documents in consideration of the financial accommodations to be provided by Agent and Lenders the Lender Group under this Agreement and the other Financing AgreementsAgreement, for the mutual benefit, directly and indirectly, of each Borrower and in consideration of the undertakings of the other Borrowers to accept joint and several liability for the Obligations. (b) Each Borrower, jointly and severally, hereby irrevocably and unconditionally accepts, not merely as a surety but also as a co-debtor, joint and several liability with the other Borrowers, with respect to the payment and performance of all of the ObligationsObligations (including any Obligations arising under this Section 2.15), it being the intention of the parties hereto that all of the Obligations shall be the joint and several obligations of each Borrower without preferences or distinction among them. Borrowers Accordingly, each Borrower hereby waives any and all suretyship defenses that would otherwise be available to such Borrower under applicable law. (c) If and to the extent that any Borrower shall be liable for all amounts due fail to Agent and Lenders under this Agreement, regardless of which Borrower actually receives the Loans or Letter of Credit Obligations hereunder or the amount of such Revolving Loans received or the manner in which Agent or make any Lender accounts for such Loans, Letter of Credit Obligations or other extensions of credit on its books and records. The Obligations of Borrowers payment with respect to Revolving Loans made any of the Obligations as and when due, whether upon maturity, acceleration, or otherwise, or to one perform any of themthe Obligations in accordance with the terms thereof, then in each such event the other Borrowers will make such payment with respect to, or perform, such Obligations until such time as all of the Obligations are paid in full, and without the Obligations arising as a result of the joint and several liability of one of the Borrowers hereunder with respect to Revolving Loans made to the need for demand, protest, or any other of the Borrowers hereunder, shall be separate and distinct obligations, but all such other Obligations shall be primary obligations of all Borrowersnotice or formality.

Appears in 1 contract

Samples: Credit Agreement (Calumet Specialty Products Partners, L.P.)

Joint and Several Liability of Borrowers. (a) Notwithstanding anything in this Agreement or any other Financing Agreements to the contrary, each Borrower, jointly and severally, in consideration of the financial accommodations to be provided by Agent Agents and Lenders under this Agreement and the other Financing Agreements, for the mutual benefit, directly and indirectly, of each Borrower and in consideration of the undertakings of the other Borrowers to accept joint and several liability for the Obligations, hereby irrevocably and unconditionally accepts, not merely as a surety but also as a co-debtor, joint and several liability with the other Borrowers, with respect to the payment and performance of all of the Obligations, it being the intention of the parties hereto that all of the Obligations shall be the joint and several obligations of each Borrower without preferences or distinction among them. Borrowers shall be liable for all amounts due to Agent Agents, Lenders and Lenders Issuing Bank under this Agreement, regardless of which Borrower actually receives the Revolving Loans or Letter of Credit Obligations hereunder or the amount of such Revolving Loans received or the manner in which Agent or Administrative Agent, any Lender or Issuing Bank accounts for such Revolving Loans, Letter of Credit Obligations or other extensions of credit on its books and records. The Obligations of Borrowers with respect to Revolving Loans made to one of them, and the Obligations arising as a result of the joint and several liability of one of the Borrowers hereunder hereunder, with respect to Revolving Loans made to the other of the Borrowers hereunder, shall be separate and distinct obligations, but all such other Obligations shall be primary obligations of all Borrowers.

Appears in 1 contract

Samples: Loan and Security Agreement (CPG International Inc.)

Joint and Several Liability of Borrowers. (a) Notwithstanding anything in this Agreement or any other Financing Agreements to the contrary, each Borrower, jointly and severally, in consideration of the financial accommodations to be provided by Agent and Lenders under this Agreement and the other Financing Agreements, for the mutual benefit, directly and indirectly, of each Borrower and in consideration of the undertakings of the other Borrowers to accept joint and several liability for the Obligations, hereby irrevocably and unconditionally accepts, not merely as a surety but also as a co-debtor, joint and several liability with the other Borrowers, with respect to the payment and performance of all of the Obligations, it being the intention of the parties hereto that all of the Obligations shall be the joint and several obligations of each Borrower without preferences or distinction among them. Borrowers shall be liable for all amounts due to Agent and Lenders under this Agreement, regardless of which Borrower actually receives the Loans or Letter of Credit Obligations hereunder or the amount of such Revolving Loans received or the manner in which Agent or any Lender accounts for such Loans, Letter of Credit Obligations Loans or other extensions of credit on its books and records. The Obligations of Borrowers with respect to Revolving Loans made to one of them, and the Obligations arising as a result of the joint and several liability of one of the Borrowers hereunder hereunder, with respect to Revolving Loans made to the other of the Borrowers hereunder, shall be separate and distinct obligations, but all such other Obligations shall be primary obligations of all Borrowers.

Appears in 1 contract

Samples: Term Loan and Security Agreement (Santana Products Inc.)

Joint and Several Liability of Borrowers. (a) Notwithstanding anything in this Agreement or any other Financing Agreements Loan Document to the contrary, each Borrower, jointly of the Borrowers hereby accepts joint and severally, several liability hereunder and under the other Loan Documents in consideration of the financial accommodations to be provided by Agent the Administrative Agent, the Lenders and Lenders the Issuing Bank under this Agreement and the other Financing AgreementsLoan Documents, for the mutual benefit, directly and indirectly, of each Borrower of the Borrowers and other L/C Eligible Account Parties and in consideration of the undertakings of the other Borrowers to accept joint and several liability for the ObligationsLoans and the other Obligations hereunder, as well as the undertaking of Trim Trends for its own obligations relating to Letters of Credit issued for its account. Each of the Borrowers, jointly and severally, hereby irrevocably and unconditionally accepts, not merely as a surety but also as a co-debtor, joint and several liability with the other Borrowers, with respect to the payment and performance of all of the ObligationsObligations (including, without limitation, any Obligations arising under this Paragraph 10.2), it being the intention of the parties hereto that all of the Obligations shall be the joint and several obligations of each Borrower of the Borrowers without preferences or distinction among them. If and to the extent that any of the Borrowers shall be liable for all amounts due fail to Agent and Lenders under this Agreement, regardless of which Borrower actually receives the Loans or Letter of Credit Obligations hereunder or the amount of such Revolving Loans received or the manner in which Agent or make any Lender accounts for such Loans, Letter of Credit Obligations or other extensions of credit on its books and records. The Obligations of Borrowers payment with respect to Revolving Loans made to one any of them, and the Obligations arising as a result and when due or to perform any of the joint and several liability of one of Obligations in accordance with the terms thereof, then in each such event the other Borrowers hereunder will make such payment with respect to Revolving Loans made to the other of the Borrowers hereunderto, shall be separate and distinct obligationsor perform, but all such other Obligations shall be primary obligations of all BorrowersObligation.

Appears in 1 contract

Samples: Assignment and Transfer Agreement (Harvard Industries Inc)

Joint and Several Liability of Borrowers. (a) Notwithstanding anything in this Agreement or any other Financing Agreements Credit Document to the contrary, but in any event subject to the limitations and requirements set out in Section 3.13, each Borrower, jointly and severally, in consideration of the financial accommodations to be provided by the Administrative Agent and Lenders under this Agreement and the other Financing AgreementsCredit Documents, for the mutual benefit, directly and indirectly, of each Borrower and in consideration of the undertakings of the other Borrowers Borrower to accept joint and several liability for the Obligations, hereby irrevocably and unconditionally accepts, not merely as a surety but also as a co-debtor, joint and several liability with the other BorrowersBorrower, with respect to the payment and performance of all of the Obligations, it being the intention of the parties hereto that all of the Obligations shall be the joint and several obligations of each Borrower without preferences or distinction among them. Borrowers shall be liable for all amounts due to the Administrative Agent and Lenders under this Agreement, regardless of which Borrower actually receives the Loans or Letter of Credit Obligations hereunder or the amount of such Revolving Loans received or the manner in which the Administrative Agent or any Lender accounts for such Loans, Letter of Credit Obligations Loans or other extensions of credit on its books and records. All Loans, upon funding, shall be deemed to be jointly funded to and received by each of Borrowers. The Obligations of Borrowers with respect to Revolving Loans made to one of them, and the Obligations arising as a result of the joint and several liability of one of the Borrowers hereunder with respect to Revolving Loans made to the other of the Borrowers Borrower hereunder, shall be separate and distinct obligations, but all such other Obligations shall be primary obligations of all Borrowers.

Appears in 1 contract

Samples: Revolving Facility Credit Agreement (Royal Gold Inc)

Joint and Several Liability of Borrowers. (a) Notwithstanding anything in this Agreement or any other Financing Agreements Loan Documents to the contrary, each Borrower, jointly and severally, in consideration of the financial accommodations to be provided by the Administrative Agent and Lenders under this Agreement and the other Financing AgreementsLoan Documents, for the mutual benefit, directly and indirectly, of each Borrower and in consideration of the undertakings of the other Borrowers to accept joint and several liability for the Obligations, hereby irrevocably and unconditionally accepts, not merely as a surety but also as a co-debtor, joint and several liability with the other Borrowers, with respect to the payment and performance of all of the Obligations, it being the intention of the parties hereto that all of the Obligations shall be the joint and several obligations of each Borrower without the preferences or distinction among them. The Borrowers shall be liable for all amounts due to the Administrative Agent and Lenders under this Agreement, regardless of which Borrower Xxxxxxxx actually receives the Loans or Letter Letters of Credit Obligations hereunder or the amount of such Revolving Loans received or the manner in which the Administrative Agent or any Lender accounts for such Loans, Letter of Credit Obligations LC Exposure or other extensions of credit on its books and records. The Obligations of the Borrowers with respect to Revolving Loans made to one of them, and the Obligations arising as a result of the joint and several liability of one of the Borrowers hereunder with respect to Revolving Loans made to the other of the Borrowers hereunder, shall be separate and distinct obligations, but all such other Obligations shall be primary obligations of all Borrowers.

Appears in 1 contract

Samples: Credit Agreement (Ollie's Bargain Outlet Holdings, Inc.)

Joint and Several Liability of Borrowers. (a) Notwithstanding anything in this Agreement or any other Financing Agreements Loan Documents to the contrary, each Borrower, jointly and severally, in consideration of the financial accommodations to be provided by the Administrative Agent and Lenders under this Agreement and the other Financing AgreementsLoan Documents, for the mutual benefit, directly and indirectly, of each Borrower and in consideration of the undertakings of the other Borrowers to accept joint and several liability for the Obligations, hereby irrevocably and unconditionally accepts, not merely as a surety but also as a co-debtor, joint and several liability with the other Borrowers, with respect to the payment and performance of all of the Obligations, it being the intention of the parties hereto that all of the Obligations shall be the joint and several obligations of each Borrower without the preferences or distinction among them. The Borrowers shall be liable for all amounts due to the Administrative Agent and Lenders under this Agreement, regardless of which Borrower actually receives the Loans or Letter of Credit Obligations hereunder or the amount of such Revolving Loans received or the manner in which the Administrative Agent or any Lender accounts for such Loans, Letter of Credit Obligations Loans or other extensions of credit on its books and records. The Obligations of the Borrowers with respect to Revolving Loans made to one of them, and the Obligations arising as a result of the joint and several liability of one of the Borrowers hereunder with respect to Revolving Loans made to the other of the Borrowers hereunder, shall be separate and distinct obligations, but all such other Obligations shall be primary obligations of all Borrowers.

Appears in 1 contract

Samples: Credit Agreement (Ollie's Bargain Outlet Holdings, Inc.)

Joint and Several Liability of Borrowers. (a) Notwithstanding anything in this Agreement or any other Financing Agreements Loan Document to the contrary, each Borrower, jointly and severally, in consideration of the financial accommodations to be provided by Agent and Lenders under this Agreement and the other Financing AgreementsLoan Documents, for the mutual benefit, directly and indirectly, of each Borrower and in consideration of the undertakings of the other Borrowers to accept joint and several liability for the Obligations, hereby irrevocably and unconditionally accepts, not merely as a surety but also as a co-debtor, joint and several liability with the other Borrowers, with respect to the payment and performance of all of the ObligationsObligations (including, without limitation, any Obligations arising under this Section 2.08), it being the intention of the parties hereto that all of the Obligations shall be the joint and several obligations of each Borrower without preferences or distinction among them. If and to the extent that any Borrower shall fail to make any payment with respect to any of the Obligations as and when due or to perform any of the Obligations in accordance with the terms thereof, then in each such event, the other Borrowers shall be liable for all amounts due will make such payment with respect to, or perform, such Obligation. Subject to Agent the terms and Lenders conditions hereof and except as otherwise provided above, the Obligations of each Borrower under the provisions of this Section 2.08 constitute the absolute and unconditional, full recourse Obligations of each Borrower, enforceable against each such Person to the full extent of its properties and assets, irrespective of the validity, regularity or enforceability of this Agreement, regardless of which Borrower actually receives the Loans or Letter of Credit Obligations hereunder or the amount of such Revolving Loans received or the manner in which Agent other Loan Documents or any Lender accounts for such Loans, Letter of Credit Obligations or other extensions of credit on its books and records. The Obligations of Borrowers with respect to Revolving Loans made to one of them, and the Obligations arising as a result of the joint and several liability of one of the Borrowers hereunder with respect to Revolving Loans made to the other of the Borrowers hereunder, shall be separate and distinct obligations, but all such other Obligations shall be primary obligations of all Borrowerscircumstances whatsoever.

Appears in 1 contract

Samples: Loan Agreement (Aerobic Creations, Inc.)

Joint and Several Liability of Borrowers. (a) Notwithstanding anything in this Agreement or any other Financing Agreements to Each of the contrary, each Borrower, Borrowers shall be jointly and severally, in consideration of the financial accommodations to be provided by Agent severally liable hereunder and Lenders under this Agreement and the other Financing Agreements, for the mutual benefit, directly and indirectly, of each Borrower and in consideration of the undertakings of the other Borrowers to accept joint and several liability for the Obligations, hereby irrevocably and unconditionally accepts, not merely as a surety but also as a co-debtor, joint and several liability with the other Borrowers, Credit Documents with respect to the payment and performance of all of the Obligations, it being the intention of the parties hereto that all of the Obligations shall be the joint and several obligations of each Borrower without preferences or distinction among them. Borrowers shall be liable for all amounts due to Agent and Lenders under this Agreement, regardless of which Borrower of the Borrowers actually receives the proceeds of the Revolving Loans or Letter the benefit of Credit Obligations hereunder or the amount any other extensions of such Revolving Loans received credit hereunder, or the manner in which the Hawk Funds Administrator, the Borrowers, the Agent or any Lender accounts for such Loans, Letter of Credit Obligations or other extensions of credit on its the Lenders account therefor in their respective books and records. The Obligations of Borrowers Notwithstanding the foregoing, (a) each Borrower's obligations and liabilities with respect to proceeds of Revolving Loans made to one which it receives or Letters of themCredit issued for its account, and the Obligations related fees, costs and expenses, and (b) each Borrower's obligations and liabilities arising as a result of the joint and several liability of one of the Borrowers hereunder with respect to proceeds of Revolving Loans made to received by, or Letters of Credit issued for the account of, any of the other of Borrowers, together with the Borrowers hereunderrelated fees, costs and expenses, shall be separate and distinct obligations, but all such other Obligations shall be both of which are primary obligations of such Borrower. Neither the joint and several liability of, nor the Liens granted to the Agent under the Collateral Documents by, any of the Borrowers shall be impaired or released by any action or inaction on the part of the Agent or any Lender, or any other event or condition with respect to any other Borrower, including any such action or inaction or other event or condition, which might otherwise constitute a defense available to, or a discharge of, such Borrower, or a guarantor or surety of or for any or all Borrowersof the Obligations.

Appears in 1 contract

Samples: Credit Agreement (Hutchinson Products Corp)

Joint and Several Liability of Borrowers. (a) Notwithstanding anything in this Agreement or any other Financing Agreements to the contrary, each Borrower, jointly and severally, in consideration of the financial accommodations to be provided by Agent and Lenders under this Agreement and the other Financing Agreements, for the mutual benefit, directly and indirectly, of each Borrower and in consideration of the undertakings of the other Borrowers to accept joint and several liability for the Obligations, hereby irrevocably and unconditionally accepts, not merely as a surety but also as a co-debtor, joint and several liability with the other Borrowers, with respect to the payment and performance of all of the Obligations, it being the intention of the parties hereto that all of the Obligations shall be the joint and several obligations of each Borrower without preferences or distinction among them. Borrowers shall be liable for all amounts due to Agent and Lenders under this Agreement, regardless of which Borrower actually receives the Revolving Loans, Swing Line Loans or Letter of Credit Obligations hereunder or the amount of such Revolving Loans received or the manner in which Agent or any Lender accounts for such Revolving Loans, Swing Line Loans, Letter of Credit Obligations or other extensions of credit on its books and records. The Obligations of Borrowers with respect to Revolving Loans and Letters of Credit made to or for the benefit of one of them, and the Obligations arising as a result of the joint and several liability of one of the Borrowers hereunder hereunder, with respect to Revolving Loans and Letters of Credit made to or for the benefit of the other of the Borrowers hereunder, shall be separate and distinct obligations, but all such other Obligations shall be primary obligations of all Borrowers.

Appears in 1 contract

Samples: Loan and Security Agreement (Global Brass & Copper Holdings, Inc.)

Joint and Several Liability of Borrowers. (a) Notwithstanding anything in this Agreement or any other Financing Agreements Loan Documents to the contrary, but subject to Section 5.3(b) hereof, each Borrower, jointly and severally, in consideration of the financial accommodations to be provided by Agent and Lenders under this Agreement and the other Financing AgreementsLoan Documents, for the mutual benefit, directly and indirectly, of each Borrower and in consideration of the undertakings of the other Borrowers to accept joint and several liability for the Obligations, hereby irrevocably and unconditionally accepts, not merely as a surety but also as a co-debtor, joint and several liability with the other Borrowers, with respect to the payment and performance of all of the Obligations, it being the intention of the parties hereto that all of the Obligations shall be the joint and several obligations of each Borrower without preferences or distinction among them. Borrowers shall be liable for all amounts due to Agent and Lenders under this Agreement, regardless of which Borrower actually receives the Loans or Letter of Credit Obligations hereunder or the amount of such Revolving Loans received or the manner in which Agent or any Lender accounts for such Loans, Letter of Credit Obligations or other extensions of credit on its books and records. The Obligations of Borrowers with respect to Revolving Loans made to one of them, and the Obligations arising as a result of the joint and several liability of one of the Borrowers hereunder with respect to Revolving Loans made to the other of the Borrowers hereunder, shall be separate and distinct obligations, but all such other Obligations shall be primary obligations of all Borrowers.

Appears in 1 contract

Samples: Loan and Security Agreement (Innophos, Inc.)

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Joint and Several Liability of Borrowers. (a) Notwithstanding anything in this Agreement or any other Financing Agreements to the contrary, each Borrower, jointly and severally, in consideration of the financial accommodations to be provided by Agent and Lenders under this Agreement and the other Financing Agreements, for the mutual benefit, directly and indirectly, of each Borrower and in consideration of the undertakings of the other Borrowers to accept joint and several liability for the Obligations, hereby irrevocably and unconditionally accepts, not merely as a surety but also as a co-debtor, joint and several liability with the other Borrowers, with respect to the payment and performance of all of the Obligations, it being the intention of the parties hereto that all of the Obligations shall be the joint and several obligations of each Borrower without preferences or distinction among them. Borrowers shall be liable for all amounts due to Agent and Lenders under this Agreement, regardless of which Borrower actually receives the Revolving Loans, Swing Line Loans or Letter of Credit Obligations hereunder or the amount of such Revolving Loans received or the manner in which Agent or any Lender accounts for such Revolving Loans, Swing Line Loans, Letter of Credit Obligations or other extensions of credit on its books and records. The Obligations of Borrowers with respect to Revolving Loans made to one of them, and the Obligations arising as a result of the joint and several liability of one of the Borrowers hereunder hereunder, with respect to Revolving Loans and Swing Line Loans made to the other of the Borrowers hereunder, shall be separate and distinct obligations, but all such other Obligations shall be primary obligations of all Borrowers.

Appears in 1 contract

Samples: Loan and Security Agreement (Santana Products Inc.)

Joint and Several Liability of Borrowers. (a) Notwithstanding anything in this Agreement or any other Financing Agreements to the contrary, each Borrower, jointly and severally, in consideration of the financial accommodations to be provided by the Agent and Lenders under this Agreement and the other Financing Agreements, for the mutual benefit, directly and indirectly, of each Borrower and in consideration of the undertakings of the other Borrowers to accept joint and several liability for the Obligations, hereby irrevocably and unconditionally accepts, not merely as a surety but also as a co-debtor, joint and several liability with the other Borrowers, with respect to the payment and performance of all of the Obligations, it being the intention of the parties hereto that all of the Obligations shall be the joint and several obligations of each Borrower without preferences or distinction among them. Borrowers shall be liable for all amounts due to Agent and Lenders under this Agreement, regardless of which Borrower actually receives the Loans or Letter proceeds of Credit Obligations the Term Loan hereunder or the amount of such Revolving Loans Term Loan received or the manner in which Agent or any Lender accounts for such Loans, Letter of Credit Obligations or other extensions of credit Term Loan on its books and records. The Obligations of Borrowers with respect to Revolving Loans any portion of the Term Loan made to one of them, and the Obligations arising as a result of the joint and several liability of one of the Borrowers hereunder hereunder, with respect to Revolving Loans any portion of the Term Loan made to the other of the Borrowers hereunder, shall be separate and distinct obligations, but all such other Obligations shall be primary obligations of all Borrowers.

Appears in 1 contract

Samples: Loan and Security Agreement (Latrobe Specialty Metals, Inc.)

Joint and Several Liability of Borrowers. (a) Notwithstanding anything in this Agreement or any other Financing Agreements Loan Documents to the contrary, each Borrower, jointly and severally, in consideration of the financial accommodations to be provided by Administrative Agent and Lenders under this Agreement and the other Financing AgreementsLoan Documents, for the mutual benefit, directly and indirectly, of each Borrower and in consideration of the undertakings of the other Borrowers to accept joint and several liability for the Obligations, hereby irrevocably and unconditionally accepts, not merely as a surety but also as a co-debtor, joint and several liability with the other Borrowers, with respect to the payment and performance of all of the Obligations, it being the intention of the parties hereto that all of the Obligations shall be the joint and several obligations of each Borrower without preferences or distinction among them. Borrowers shall be liable for all amounts due to Administrative Agent and Lenders under this Agreement, regardless of which Borrower actually receives the Loans or Letter Letters of Credit Obligations hereunder or the amount of such Revolving Loans received or the manner in which Agent or any Lender accounts for such Loans, Letter of Credit Obligations Exposure or other extensions of credit on its books and records. The Obligations of Borrowers with respect to Revolving Loans made to one of them, and the Obligations arising as a result of the joint and several liability of one of the Borrowers hereunder with respect to Revolving Loans made to the 83 other of the Borrowers hereunder, shall be separate and distinct obligations, but all such other Obligations shall be primary obligations of all Borrowers.

Appears in 1 contract

Samples: Abl Credit Agreement (Amscan Holdings Inc)

Joint and Several Liability of Borrowers. (a) Notwithstanding anything in this Agreement or any other Financing Agreements Loan Documents to the contrary, each Borrower, jointly and severally, in consideration of the financial accommodations to be provided by Agent and Lenders under this Agreement and the other Financing AgreementsLoan Documents, for the mutual benefit, directly and indirectly, of each Borrower and in consideration of the undertakings of the other Borrowers to accept joint and several liability for the Obligations, hereby irrevocably and unconditionally accepts, not merely as a surety but also as a co-debtor, joint and several liability with the other Borrowers, with respect to the payment and performance of all of the Obligations, it being the intention of the parties hereto that all of the Obligations shall be the joint and several obligations of each Borrower without preferences or distinction among them. Borrowers shall be liable for all amounts due to Agent and Lenders under this Agreement, regardless of which Borrower actually receives the Revolving Loans or Letter of Credit Obligations hereunder or the amount of such Revolving Loans received or the manner in which Agent or any Lender accounts for such Revolving Loans, Letter of Credit Obligations or other extensions of credit on its books and records. The Obligations of Borrowers with respect to Revolving Loans made to one of them, and the Obligations arising as a result of the joint and several liability of one of the Borrowers hereunder with respect to Revolving Loans made to the other of the Borrowers hereunder, shall be separate and distinct obligations, but all such other Obligations shall be primary obligations of all Borrowers.

Appears in 1 contract

Samples: Loan and Security Agreement (Adc Telecommunications Inc)

Joint and Several Liability of Borrowers. (a) Notwithstanding anything in this Agreement or any other Financing Agreements Loan Documents to the contrary, each Borrower, jointly and severally, in consideration of the financial accommodations to be provided by the Administrative Agent and Lenders under this Agreement and the other Financing AgreementsLoan Documents, for the mutual benefit, directly and indirectly, of each Borrower and in consideration of the undertakings of the other Borrowers to accept joint and several liability for the Obligations, hereby irrevocably and unconditionally accepts, not merely as a surety but also as a co-debtor, joint and several liability with the other Borrowers, with respect to the payment and performance of all of the Obligations, it being the intention of the parties hereto that all of the Obligations shall be the joint and several obligations of each Borrower without the preferences or distinction among them. Borrowers shall be liable for all amounts due to the Administrative Agent and Lenders under this Agreement, regardless of which Borrower actually receives the Revolver Loans or Letter Letters of Credit Obligations hereunder or the amount of such Revolving Revolver Loans received or the manner in which the Administrative Agent or any Lender accounts for such Loans, Letter of Credit Obligations LC Exposure or other extensions of credit on its books and records. The Obligations of the Borrowers with respect to Revolving Revolver Loans made to one of them, and the Obligations arising as a result of the joint and several liability of one of the Borrowers hereunder with respect to Revolving Revolver Loans made to the other of the Borrowers hereunder, shall be separate and distinct obligations, but all such other Obligations shall be primary obligations of all Borrowers.

Appears in 1 contract

Samples: Intellectual Property Security Agreement (Ollie's Bargain Outlet Holdings, Inc.)

Joint and Several Liability of Borrowers. (a) Notwithstanding anything in this Agreement or any other Financing Agreements Loan Documents to the contrary, each Borrower, jointly and severally, in consideration of the financial accommodations to be provided by the Administrative Agent and Lenders under this Agreement and the other Financing AgreementsLoan Documents, for the mutual benefit, directly and indirectly, of each Borrower and in consideration of the undertakings of the other Borrowers to accept joint and several liability for the Obligations, hereby irrevocably and unconditionally accepts, not merely as a surety but also as a co-debtor, joint and several liability with the other Borrowers, with respect to the payment and performance of all of the Obligations, it being the intention of the parties hereto that all of the Obligations shall be the joint and several obligations of each Borrower without preferences or distinction among them. Borrowers shall be liable for all amounts due to Administrative Agent and Lenders under this Agreement, regardless of which Borrower Xxxxxxxx actually receives the Loans or Letter Letters of Credit Obligations hereunder or the amount of such Revolving Loans received or the manner in which the Administrative Agent or any Lender accounts for such Loans, Letter of Credit Obligations LC Exposure or other extensions of credit on its books and records. The Obligations of Borrowers with respect to Revolving Loans made to one of them, and the Obligations arising as a result of the joint and several liability of one of the Borrowers hereunder with respect to Revolving Loans made to the other of the Borrowers hereunder, shall be separate and distinct obligations, but all such other Obligations shall be primary obligations of all Borrowers.

Appears in 1 contract

Samples: Abl Credit Agreement (Party City Holdco Inc.)

Joint and Several Liability of Borrowers. Each Borrower hereby agrees as follows: (a) Notwithstanding anything in this Agreement or any other Financing Agreements to Each Borrower is accepting joint and several liability hereunder and under the contrary, each Borrower, jointly and severally, Other Documents in consideration of the financial accommodations to be provided by Agent and the Lenders under this Agreement and the other Financing AgreementsAgreement, for the mutual benefit, directly and indirectly, of each Borrower and in consideration of the undertakings of the other Borrowers to accept joint and several liability for the Obligations. (b) Each Borrower, jointly and severally, hereby irrevocably and unconditionally accepts, not merely as a surety but also as a co-debtor, joint and several liability with the other Borrowers, with respect to the payment and performance of all of the ObligationsObligations (including any Obligations arising under this Section 15.2), it being the intention of each Borrower and the parties hereto that all of the Obligations shall be the joint and several obligations of each Borrower without preferences or distinction among them. (c) If and to the extent that any Borrower shall fail to make any payment with respect to any of the Obligations as and when due or to perform any of the Obligations in accordance with the terms thereof, then in each such event the other Borrowers shall be liable for all amounts due to Agent and Lenders under this Agreementwill make such payment with respect to, regardless of which Borrower actually receives the Loans or Letter of Credit Obligations hereunder or the amount of perform, such Revolving Loans received or the manner in which Agent or any Lender accounts for such Loans, Letter of Credit Obligations or other extensions of credit on its books and recordsObligation. (d) The Obligations of Borrowers with respect each Borrower under the provisions of this Section 15.2 constitute the absolute and unconditional, full recourse Obligations of each Borrower enforceable against each Borrower to Revolving Loans made to one the full extent of themits properties and assets, and the Obligations arising as a result irrespective of the joint and several liability validity, regularity or enforceability of one of the Borrowers hereunder with respect to Revolving Loans made to the this Agreement or any other of the Borrowers hereunder, shall be separate and distinct obligations, but all such other Obligations shall be primary obligations of all Borrowers.circumstances whatsoever. 15.3

Appears in 1 contract

Samples: Credit and Security Agreement (Virco MFG Corporation)

Joint and Several Liability of Borrowers. All Obligations (aincluding indemnity Obligations) Notwithstanding anything in this Agreement or any other Financing Agreements to the contrary, each Borrower, jointly and severally, in consideration of the financial accommodations to be provided by Agent and Lenders Borrowers under this Agreement and the other Financing Agreements, for the mutual benefit, directly and indirectly, of each Borrower and in consideration of the undertakings of the other Borrowers to accept Notes shall constitute joint and several liability for obligations of the ObligationsBorrowers. Each Borrower expressly represents and acknowledges that it is part of a single business enterprise with the other Borrower and that any Loans by the Lenders to the other Borrower hereunder will be of direct and indirect interest, hereby irrevocably benefit and unconditionally acceptsadvantage of both of the Borrowers. Each Borrower acknowledges that any Loan Notice, Swing Line Loan Notice or other notice given by either of the Borrowers to the Administrative Agent or any Lender shall bind both of the Borrowers, and that any notice given by the Administrative Agent or any Lender to either of the Borrowers shall be effective with respect to both Borrowers. Each Borrower acknowledges and agrees that each Borrower shall be liable not merely as a surety but also as a primary obligor and co-debtor, on a joint and several liability with the other Borrowersbasis, with respect to the payment and performance of for all of the Obligations, it being the intention of the parties hereto that all of the Obligations shall be the joint and several obligations of each Borrower without preferences or distinction among them. Borrowers shall be liable for all amounts due to Agent and Lenders under this AgreementLoans, regardless of which Borrower may actually receives have received the proceeds of any of the Loans or Letter of Credit Obligations hereunder or the amount of such Revolving Loans received or the manner in which the Administrative Agent or any Lender accounts for such Loans, Letter of Credit Obligations or other extensions of credit Loans on its books and records. The Obligations of Borrowers with respect to Revolving Loans made to one of them, and further acknowledges and agrees that Loans to either Borrower inure to the Obligations arising as a result mutual benefit of both Borrowers and that the Administrative Agent and the Lenders are relying on the joint and several liability of one of the Borrowers hereunder with respect to Revolving Loans made to in extending the other of the Borrowers hereunder, shall be separate and distinct obligations, but all such other Obligations shall be primary obligations of all Borrowers.Loans

Appears in 1 contract

Samples: Revolving Credit Agreement (Western Refining, Inc.)

Joint and Several Liability of Borrowers. (a) Notwithstanding anything in this Agreement or any Each Borrower is accepting joint and several liability hereunder and under the other Financing Agreements to the contrary, each Borrower, jointly and severally, Loan Documents in consideration of the financial accommodations to be provided by Agent and Lenders Lender under this Agreement and the other Financing AgreementsAgreement, for the mutual benefit, directly and indirectly, of each Borrower and in consideration of the undertakings of the other Borrowers to accept joint and several liability for the Secured Obligations. Each Borrower, jointly and severally, hereby irrevocably irrevocably, absolutely and unconditionally accepts, not merely as a surety but also as a co-debtor, joint and several liability with the other Borrowers, with respect to the payment and performance of all of the ObligationsSecured Obligations (including, without limitation, any Secured Obligations arising under this Section 2.8), it being the intention of the parties hereto Borrowers that all of the Secured Obligations shall be the joint and several obligations of each Borrower Borrowers without preferences or distinction among them. If and to the extent that any of Borrowers shall be liable for all amounts due fail to Agent and Lenders under this Agreement, regardless of which Borrower actually receives the Loans or Letter of Credit Obligations hereunder or the amount of such Revolving Loans received or the manner in which Agent or make any Lender accounts for such Loans, Letter of Credit Obligations or other extensions of credit on its books and records. The Obligations of Borrowers payment with respect to Revolving Loans made to one of them, and the Obligations arising as a result any of the joint Secured Obligations as and several liability of one when due or to perform any of the Secured Obligations in accordance with the terms thereof, then in each such event, the other Persons composing Borrowers hereunder will make such payment with respect to Revolving Loans made to the other to, or perform, such Secured Obligation. Each Borrower hereby agrees that it will not enforce any of the Borrowers hereunder, shall be separate and distinct obligations, but all such other Obligations shall be primary obligations of all Borrowers.its rights of

Appears in 1 contract

Samples: Loan and Security Agreement (InfoLogix Inc)

Joint and Several Liability of Borrowers. (a) Notwithstanding anything in this Agreement or any other Financing Agreements to the contrary, each Borrower, jointly and severally, in consideration of the financial accommodations to be provided by Agent Agents and Lenders under this Agreement and the other Financing Agreements, for the mutual benefit, directly and indirectly, of each Borrower and in consideration of the undertakings of the other Borrowers to accept joint and several liability for the Obligations, hereby irrevocably and unconditionally accepts, not merely as a surety but also as a co-debtor, joint and several liability with the other Borrowers, with respect to the payment and performance of all of the Obligations, it being the intention of the parties hereto that all of the Obligations shall be the joint and several obligations of each Borrower without preferences or distinction among them. Borrowers shall be liable for all amounts due to Agent Agents and Lenders under this Agreement, regardless of which Borrower actually receives the Loans or Letter of Credit Obligations hereunder or the amount of such Revolving Loans received or the manner in which Administrative Agent or any Lender accounts for such Loans, Letter of Credit Obligations Loans or other extensions of credit on its books and records. The Obligations of Borrowers with respect to Revolving Loans made to one of them, and the Obligations arising as a result of the joint and several liability of one of the Borrowers hereunder hereunder, with respect to Revolving Loans made to the other of the Borrowers hereunder, shall be separate and distinct obligations, but all such other Obligations shall be primary obligations of all Borrowers.

Appears in 1 contract

Samples: Loan and Security Agreement (CPG International Inc.)

Joint and Several Liability of Borrowers. (a) Notwithstanding anything in this Agreement or any other Financing Agreements Loan Documents to the contrary, each Borrower, jointly and severally, in consideration of the financial accommodations to be provided by the Administrative Agent and Lenders under this Agreement and the other Financing AgreementsLoan Documents, for the mutual benefit, directly and indirectly, of each Borrower and in consideration of the undertakings of the other Borrowers to accept joint and several liability for the Obligations, hereby irrevocably and unconditionally accepts, not merely as a surety but also as a co-debtor, joint and several liability with the other Borrowers, with respect to the payment and performance of all of the Obligations, it being the intention of the parties hereto that all of the Obligations shall be the joint and several obligations of each Borrower without preferences or distinction among them. Borrowers shall be liable for all amounts due to Administrative Agent and Lenders under this Agreement, regardless of which Borrower actually receives the Loans or Letter Letters of Credit Obligations hereunder or the amount of such Revolving Loans received or the manner in which the Administrative Agent or any Lender accounts for such Loans, Letter of Credit Obligations Exposure or other extensions of credit on its books and records. The Obligations of Borrowers with respect to Revolving Loans made to one of them, and the Obligations arising as a result of the joint and several liability of one of the Borrowers hereunder with respect to Revolving Loans made to the other of the Borrowers hereunder, shall be separate and distinct obligations, but all such other Obligations shall be primary obligations of all Borrowers.

Appears in 1 contract

Samples: Credit Agreement (Am-Source, LLC)

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