More than One Borrower. Where more than one person is named as Borrower, or any part of the Loan has been made available to two or more persons (including the Borrower), each person shall be jointly and severally liable for the repayment of the Amount Outstanding and for the performance of the Secured Obligations. This means that all of them are liable together, and each of them is liable separately, for repayment of the Amount Outstanding and for the performance of the Secured Obligations.
More than One Borrower. The obligations of Maritrans Inc. ("Maritrans"), and Maritrans Navigator Co. ("Navigator Co.") are joint and several. Each reference to the term "Borrower" shall be deemed to refer to each of Maritrans, and Navigator Co.; each representation and warranty made by Borrower shall be deemed to have been made by each such party; each covenant and undertaking on the part of Borrower shall be determined individually and applied with respect to each such party; and each event constituting a Default under this Agreement shall be determined with respect to each such party. A separate action or actions may be brought and prosecuted against any such party whether an action is brought against any other party or whether any other party is joined in any such action or actions. Each such party waives any right to require Lender to: (a) proceed against any other party; (b) proceed against or exhaust any security held from any other party; or (c) pursue any other remedy in Lender's power whatsoever. Notices hereunder required to be provided to Borrower shall be effective if provided to Maritrans. In the event any obligation of Borrower under this Agreement is deemed to be an agreement by any individual Borrower to answer for the debt or default of another individual Borrower (including each other) or as an accommodation or as an hypothecation of property as security therefor, each Borrower represents and warrants that: (x) no representation has been made to it as to the creditworthiness of any other obligor, and (y) it has established adequate means of obtaining from each other obligor on a continuing basis, financial or other information pertaining to each other obligor's financial condition. Each Borrower expressly waives diligence, demand, presentment, protest and notice of every kind and nature whatsoever, or the alteration or release in any manner of any security now or hereafter held in connection with any obligations now or hereafter secured by this Agreement. Should any default by made in the payment of any such obligations or in the terms or conditions of any security held, Lender is hereby expressly given the right, at its option, to proceed in the enforcement of this Agreement independently of any other remedy or security it may at any time hold in connection with such obligations secured and it shall not be necessary for Lender to proceed upon or against and/or exhaust any other security or remedy before proceeding to enforce its rights against any Borrower. Eac...
More than One Borrower. If more than one person or entity executes this Agreement, each of the other Loan Documents, and all addenda or other documents executed in connection herewith or therewith, as "Borrower," the obligations of "Borrower" contained herein and therein shall be deemed joint and several and all references to "Borrower" shall apply both individually and jointly.
More than One Borrower. If more than one person or entity executes the Loan Documents as “Borrower,” the obligations of “Borrower” shall be deemed joint and several and all references to “Borrower” shall apply both individually and jointly.
More than One Borrower. If there is more than one person named as Borrower in this deed, the term “Borrower” means and refers to each of them individually and each of them together unless the context otherwise requires, and the Guarantor guarantees the obligations of each of them in accordance with this deed.
More than One Borrower. (a) The rights and obligations of Borrower are joint and several. Each reference to the term “Borrower” shall be deemed to refer to each of PRIMORIS SERVICES CORPORATION, PRIMORIS ENERGY SERVICES CORPORATION, ARB, INC., AND ROCKFORD CORPORATION; each representation and warranty made by Borrower shall be deemed to have been made by each such party; each covenant and undertaking on the part of Borrower shall be deemed individually applicable with respect to each such party; and each event constituting a Default under this Agreement shall be determined with respect to each such party. A separate action or actions may be brought and prosecuted against any such party whether an action is brought against any other party or whether any other party is joined in any such actions or actions. Each such party waives any right to required KEF to: (i) proceed against any other party; (ii) proceed against or exhaust any security held from any other party; or (iii) pursue any other remedy in KEF’s power whatsoever. Notices hereunder required to be provided to Borrower shall be effective if provided to any such party. Any consent on the part of Borrower hereunder shall be effective when provided by any such party and KEF shall be entitled to rely upon any notice or consent given by any such party as being notice or consent given by Borrower hereunder.
