Joint Creditorship Sample Clauses

Joint Creditorship. (a) Each of the Loan Parties and each of the Lender Parties and the Agents agree that the Collateral Trustee shall be agent (mandataire) of the Lender Parties and the Agents and the joint and several creditor (together with the relevant Lender Party and the Agents) of each and every obligation of any Loan Party towards each of the Lender Parties and Agents under the Loan Documents and the Covered Facilities (including a creancier solidaire as referred to in Articles 1197 et. seq. of the French Civil Code) and that accordingly the Collateral Trustee will have its own independent right to demand performance by the relevant Loan Party of those obligations whether owned jointly and severally to the Lender Parties and Agents or to each and any of them. Any discharge of any such obligation to one of the Collateral Trustee, the Debt Coordinators or any other Lender Party shall, to the same extent, discharge the corresponding obligation owing to the other pro tanto and a Lender Party, the Debt Coordinators or the Collateral Trustee shall not, by virtue of this Section 7.1(i), be entitled to pursue the Loan Party concurrently for the same obligation.
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Joint Creditorship. (a) Each of the Obligors and each of the Finance Parties agree that the Security Agent shall be the joint creditor of each and every obligation of any Obligor towards each of the Finance Parties under the Finance Documents (together with such Finance Party) and that accordingly the Security Agent will have its own independent right to demand performance by the relevant Obligor of those obligations. However, any discharge of any such obligation to the Security Agent or the relevant Finance Party shall, to the same extent, discharge the corresponding obligation owing to the other.
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Joint Creditorship. 14 SECTION 7.2. Declaration of Trust (Treuhand) and Appointment as Administrator....................................14 SECTION 7.3. Quebec Security.................................................14 Article VIII MISCELLANEOUS
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Joint Creditorship. Each of the Obligors and each of the Senior Finance Parties agree that the Security Agent shall be the joint and several creditor (together with the relevant Senior Finance Party) of each and every obligation of any Obligor towards each of the Senior Finance Parties under the Senior Finance Documents and that accordingly the Security Agent will have its own independent right to demand performance by the relevant Obligor of those obligations. Any discharge of any such obligation to one of the Security Agent or any other Senior Finance Party shall, to the same extent, discharge the corresponding obligation owing to the other, and a Senior Finance Party or the Security Agent shall not, by virtue of this Clause 19.13, be entitled to pursue the Obligor concurrently for the same obligation. Without limiting or affecting the Security Agent's rights against any Obligor (whether under this paragraph or any other provision of the Senior Finance Documents), the Security Agent agrees with each of the other Senior Finance Parties (on a several and divided basis) that, subject as set out in the following sentence, it will not exercise its rights as a joint creditor with a Senior Finance Party except with the consent of the relevant Senior Finance Party. For the avoidance of doubt, nothing in the previous sentence shall in any way limit the Security Agent's right to act in the protection or preservation of rights under or to enforce any Security Document as contemplated by this Agreement and/or the relevant Security Document (or to do any act reasonably incidental to any of the foregoing).
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Joint Creditorship. ..15 Section 7.2 Declaration of Trust (Treuhand) and Appointment as Administrator......................16 Section 7.3
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Related to Joint Creditorship

  • Debtor-Creditor Relationship The relationship between the Lenders and Agent, on the one hand, and the Loan Parties, on the other hand, is solely that of creditor and debtor. No member of the Lender Group has (or shall be deemed to have) any fiduciary relationship or duty to any Loan Party arising out of or in connection with the Loan Documents or the transactions contemplated thereby, and there is no agency or joint venture relationship between the members of the Lender Group, on the one hand, and the Loan Parties, on the other hand, by virtue of any Loan Document or any transaction contemplated therein.

  • Creditor-Debtor Relationship The relationship between Agent, each Lender and the L/C Issuer, on the one hand, and the Credit Parties, on the other hand, is solely that of creditor and debtor. No Secured Party has any fiduciary relationship or duty to any Credit Party arising out of or in connection with, and there is no agency, tenancy or joint venture relationship between the Secured Parties and the Credit Parties by virtue of, any Loan Document or any transaction contemplated therein.

  • Not for Benefit of Creditors The provisions of this Agreement are intended only for the regulation of relations among past, present and future Members, Directors, the Manager and the Company. This Agreement is not intended for the benefit of non-member creditors and no rights are granted to non-Member creditors under this Agreement.

  • Non-Guarantee of Employment or Service Relationship Nothing in the Plan or this Agreement shall alter your at-will or other employment status or other service relationship with the Company, nor be construed as a contract of employment or service relationship between the Company and you, or as a contractual right of you to continue in the employ of, or in a service relationship with, the Company for any period of time, or as a limitation of the right of the Company to discharge you at any time with or without cause or notice and whether or not such discharge results in the forfeiture of any Award Shares or any other adverse effect on your interests under the Plan.

  • No Guaranteed Employment The Executive and the Company acknowledge that, except as may otherwise be provided under any other written agreement between the Executive and the Company, the employment of the Executive by the Company is "at will" and may be terminated by either the Executive or the Company at any time.

  • No Competing Employment The Executive acknowledges that the agreements and covenants contained in this Section 7 are essential to protect the value of the Company’s, or any of its subsidiaries’ or affiliates’, business and assets and by his current employment with the Company and its subsidiaries, the Executive has obtained and will obtain such knowledge, contacts, know-how, training and experience and there is a substantial probability that such knowledge, know-how, contacts, training and experience could be used to the substantial advantage of a competitor of the Company or any of its subsidiaries or affiliates and to the Company’s, or any of its subsidiaries’ or affiliates’, substantial detriment. Therefore, the Executive agrees that for the period commencing on the date of this Agreement and ending on the first anniversary of the termination of the Executive’s employment hereunder (such period is hereinafter referred to as the “Restricted Period”) with respect to any State in which the Company is engaged in business during the Employment Term, the Executive shall not participate or engage, directly or indirectly, for himself or on behalf of or in conjunction with any person, partnership, corporation or other entity, whether as an employee, agent, officer, director, partner or joint venturer, in any business activities if such activity consists of any activity undertaken or expressly contemplated to be undertaken by the Company or any of its subsidiaries or by the Executive at any time during the last three (3) years of the Employment Term. The foregoing restrictions contained in this Section 7(a) shall not prevent the Executive from accepting employment with a large diversified organization with separate and distinct divisions that do not compete, directly or indirectly, with the Company or any of its subsidiaries or affiliates, so long as prior to accepting such employment the Company receives separate written assurances from the prospective employer and from the Executive, satisfactory to the Company, to the effect that the Executive will not render any services, directly or indirectly, to any division or business unit that competes, directly or indirectly, with the Company or any of its subsidiaries or affiliates. During the Restricted Period, the Executive will inform any new employer, prior to accepting employment, of the existence of this Agreement and provide such employer with a copy of this Agreement.

  • Employment Relationship Employment with the Company is for no specific period of time. Your employment with the Company will be “at will,” meaning that either you or the Company may terminate your employment at any time and for any reason, with or without cause. Any contrary representations that may have been made to you are superseded by this letter agreement. This is the full and complete agreement between you and the Company on this term. Although your job duties, title, compensation and benefits, as well as the Company’s personnel policies and procedures, may change from time to time, the “at will” nature of your employment may only be changed in an express written agreement signed by you and a duly authorized officer of the Company (other than you).

  • Effect on Employment Agreement Except as specifically amended in the manner and to the extent provided in Section 1 above, the Employment Agreement shall remain unchanged and the Employment Agreement shall continue, as and to the extent amended by this Amendment, in full force and effect.

  • No Guaranty of Employment This Agreement is not an employment policy or contract. It does not give the Executive the right to remain an employee of the Company, nor does it interfere with the Company's right to discharge the Executive. It also does not require the Executive to remain an employee nor interfere with the Executive's right to terminate employment at any time.

  • General Relationship Executive shall be considered an employee of the Company within the meaning of all federal, state and local laws and regulations including, but not limited to, laws and regulations governing unemployment insurance, workers’ compensation, industrial accident, labor and taxes.

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