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

Joint and Several Liability of Borrowers. (a) The liability of the Borrowers for all amounts due to the Administrative Agent or any Lender under this Agreement shall be joint and several regardless of which Borrower actually receives Loans or other extensions of credit hereunder or the amount of such Loans received or the manner in which the Administrative Agent or such Lender accounts for such Loans or other extensions of credit on its books and records. Each Borrower’s Obligations with respect to Loans made to it, and each Borrower’s Obligations arising as a result of the joint and several liability of the Borrowers hereunder, with respect to Loans made to the other Borrower hereunder, shall be separate and distinct obligations, but all such Obligations shall be primary obligations of each Borrower.

Appears in 3 contracts

Samples: Credit Agreement (Atlantic Power Corp), Credit Agreement (Atlantic Power Corp), Credit Agreement (Atlantic Power Corp)

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Joint and Several Liability of Borrowers. (a) The liability of the Borrowers Each Borrower shall be liable for all amounts due to the Administrative Agent or and/or any Lender under this Agreement shall be joint and several the other Loan Documents, regardless of which Borrower actually receives Loans or other extensions of credit hereunder or the amount of such Loans received or the manner in which the Administrative Agent or and/or such Lender accounts for such Loans or other extensions of credit on its books and records. Each Borrower’s Obligations 's obligations with respect to Loans made to it, and each such Borrower’s 's Obligations arising as a result of the joint and several liability of the Borrowers hereunder, such Borrower hereunder with respect to Loans made to the any other Borrower hereunder, shall be separate and distinct obligations, but all such Obligations obligations shall be primary obligations of each such Borrower.

Appears in 2 contracts

Samples: Credit Agreement (Mail Well Inc), Credit Agreement (Mail Well Inc)

Joint and Several Liability of Borrowers. (a) The liability of the Borrowers Each Borrower shall be liable for all amounts due to the Administrative Agent or Agent, the Security Trustee and/or any Lender under this Agreement shall be joint and several the other Loan Documents, regardless of which Borrower actually receives Loans or other extensions of credit hereunder or the amount of such Loans received or the manner in which the Administrative Agent or and/or such Lender accounts for such Loans or other extensions of credit on its books and records. Each Borrower’s Obligations 's obligations with respect to Loans made to it, and each such Borrower’s 's Obligations arising as a result of the joint and several liability of the Borrowers hereunder, such Borrower hereunder with respect to Loans made to the any other Borrower hereunder, shall be separate and distinct obligations, but all such Obligations obligations shall be primary obligations of each such Borrower.

Appears in 1 contract

Samples: Credit Agreement (3com Corp)

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Joint and Several Liability of Borrowers. (a) The liability of the Borrowers Each Borrower shall be liable for all amounts due to the Administrative Agent or any Lender under this Agreement shall be joint and several the other Loan Documents, regardless of which Borrower actually receives Loans or other extensions of credit hereunder or the amount of such Loans received or the manner in which the Administrative Agent or such Lender accounts for such Loans or other extensions of credit on its books and records. Each Borrower’s Obligations obligations with respect to Loans made to it, and each such Borrower’s Obligations arising as a result of the joint and several liability of the Borrowers hereunder, such Borrower hereunder with respect to Loans made to the any other Borrower hereunder, shall be separate and distinct obligations, but all such Obligations obligations shall be primary obligations of each such Borrower.

Appears in 1 contract

Samples: Credit Agreement (Remedytemp Inc)

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