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

Joint and Several Liability of the Borrowers. (a) Each of the Borrowers is accepting joint and several liability hereunder and under the other Loan Documents in consideration of the financial accommodations to be provided by the Lender under this Agreement, for the mutual benefit, directly and indirectly, of each of the Borrowers and in consideration of the undertakings of the other Borrowers to accept joint and several liability for the Obligations.

Appears in 2 contracts

Samples: Loan and Security Agreement (Zanett Inc), Loan and Security Agreement (Zanett Inc)

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Joint and Several Liability of the Borrowers. (a) Each of the Borrowers is accepting joint and several liability hereunder with respect to the Joint and under the other Loan Documents Several Obligations in consideration of the financial accommodations accommodation to be provided by the Lender Lenders under Sections 2.2 and 2.4 of this Agreement, for the mutual benefit, directly and indirectly, of each of the Borrowers and in consideration of the undertakings of each of the other Borrowers to accept joint and several liability for the ObligationsJoint and Several Obligations of each of them under Sections 2.2 and 2.4.

Appears in 1 contract

Samples: Credit Agreement (Southern Foods Group L P)

Joint and Several Liability of the Borrowers. (a) Each of the Borrowers is accepting joint and several liability hereunder and under the other Loan Documents in consideration of the financial accommodations accommodation to be provided by the Lender under this Credit Agreement, for the mutual benefit, directly directly, and indirectly, of each of the Borrowers and in consideration of the undertakings of each of the other Borrowers to accept joint and several liability for the Obligationsobligations of each of them.

Appears in 1 contract

Samples: Credit Agreement (Central Parking Corp)

Joint and Several Liability of the Borrowers. (a) Each of the Borrowers is accepting joint and several liability hereunder and under the other Loan Documents in consideration of the financial accommodations to be provided by the Lender Agent and the Lenders under this Agreement, for the mutual benefit, directly and indirectly, of each of the Borrowers and in consideration of the undertakings of the other Borrowers Borrower to accept joint and several liability for the Obligations.

Appears in 1 contract

Samples: Loan and Security Agreement (Guitar Center Inc)

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Joint and Several Liability of the Borrowers. (a) Each of the Borrowers is accepting joint and several liability hereunder and under the other Loan Documents in consideration of the financial accommodations to be provided by the Lender Agent and the Lenders under this Agreement, for the mutual benefit, directly and indirectly, of each of the Borrowers and in consideration of the undertakings of the other Borrowers to accept joint and several liability for the Obligations.

Appears in 1 contract

Samples: Loan Agreement (Philip Services Corp/De)

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