Common use of Joint and Several Obligations of Pledgors Clause in Contracts

Joint and Several Obligations of Pledgors. The Pledgor and Richxxxxxx xxxntly and severally hereby irrevocably and unconditionally accepts, not merely as a surety but also as a co-debtor, joint and several liability with respect to the payment and performance of all of the Pledgor Obligations arising under this Pledge Agreement and the Note, it being the intention of the parties hereto that all the Pledgor Obligations shall be the joint and several obligations of the Pledgor and Richxxxxxx xxxhout preferences or distinction among them.