Multiple Lenders Clause Samples

Multiple Lenders. If an Event of Default occurs with regards to a Borrower with multiple Lenders, the Borrower will not make or permit any payment or prepayment of any Loans owing by Borrower unless Borrower concurrently makes a pro-rata payment or prepayment of all loans owing by Borrower.

Multiple Lenders. For any Loan under this Agreement, each reference in the Agreement to Lender shall be deemed a reference solely to the particular Lender to which such Loan relates. In no circumstances shall the rights, obligations or remedies of Manager with respect to a particular Lender constitute a right, obligation or remedy applicable to any other lender. Furthermore, in no circumstances shall the rights, obligations or remedies of a particular Lender with respect to Manager be applicable to any other lender with respect to Manager. With respect to any Lender that is organized as a business trust (or a series thereof), Manager is hereby expressly put on notice of the limitation of liability set forth in the Declaration of Trust or similar instrument of such Lender and agrees that the obligations assumed by such Lender hereunder shall be limited in all cases to that Lender and its assets, and Manager shall not seek satisfaction of any such obligation from the officers, agents, employees, directors, trustees, or shareholders of such Lender.

Multiple Lenders. If you have more than one lien on your property, one lender might agree to modify its loan, but other lenders may refuse to modify their loans and may continue or start collection efforts and/or seek any other legal means to collect their debts, including, but not limited to, foreclosure of their liens.

Multiple Lenders. This agreement shall be deemed to create a separate agreement for each Customer as though each Customer separately executed an identical agreement. For any Loan under this Agreement, each reference in the Agreement to Customer shall be deemed a reference solely to the particular Customer to which such Loan relates. In no circumstances shall the rights, obligations or remedies of the Bank with respect to a particular Customer constitute a right, obligation or remedy applicable to any other Customer. Specifically, and without otherwise limiting the scope of this Section, the Bank shall have no right to set off claims or amounts payable related to one Customer by applying property of any other Customer. Furthermore, in no circumstances shall the rights, obligations or remedies of a particular Customer with respect to the Bank constitute a right, obligation or remedy of any other Customer with respect to the Bank.

Multiple Lenders. Each representation, warranty, certification, covenant or other obligation of any Lender made or given in this Agreement, the other Loan Documents or the Application shall be deemed a several representation, warranty, certification, covenant or other obligation of each Lender such that no Lender shall be liable for the acts or omissions of any other Lenders, and the obligation of the Board to any Tranche A Lender shall not be affected by the acts or omissions of any other Lender (including, without limitation, the failure by the Tranche B Lender to comply with or perform any of its obligations hereunder or under any other Loan Document or the breach or incorrectness of any representation, warranty or certification made by the Tranche B Lender herein, in any other Loan Document or in the Application).

Multiple Lenders. Unless otherwise notified to the relevant Group Lender in the Lending Limit Letter delivered to it by or on behalf of the Guarantor, where the term “Lender” (as defined in paragraph 1(O) of Part 2 (Interpretation) of Schedule 1) comprises more than one person (each such person being a “Group Lender”) the obligations and liabilities of each Group Lender under the Scheme Documents will, where the context requires, be several and not joint and several and any references to “Lender”, “Party” or “Parties” will be construed, and all relevant agreements and undertakings on each Group Lender’s part will take effect, accordingly and provided that:

Multiple Lenders. If more than one Lender holds the Debentures, the Lenders (i) shall make all decisions required or permitted under this Loan Agreement and any other Loan Instrument (including, without limitation, consents, approvals, waivers and other matters) by affirmative vote of the Lenders holding more than 50% of the outstanding principal amount of the Debentures and (ii) shall appoint one representative to act on behalf of all Lenders for purposes of giving and receiving notices to and from the Borrower and taking other actions under this Loan Agreement and the Loan Instruments (such as auditing the books and records of the Borrower). The initial representative of the Lenders is JEL. The representative can be changed upon affirmative vote of the Lenders in accordance with (i) above and written notice to the Borrower of the new representative. For so long as JEL and ▇▇▇▇▇ ▇. ▇▇▇▇▇ are the only Lender, JEL shall always be the representative of the Lender for all purposes.

Multiple Lenders. This Agreement shall be deemed to create a separate agreement for each Customer as though each Customer separately executed an identical agreement. For any Loan under this Agreement, each reference in the Agreement to Customer shall be deemed a reference solely to the particular Customer to which such Loan relates. Obligations of a particular Customer under this Agreement shall be satisfied only against assets of such Customer and not against the assets of any other Customer of the Trust.

Multiple Lenders. This Agreement shall be binding upon and inure to the benefit of the Borrower, the Servicer, the Administrative Agent, each Lender, the Collateral Agent, the Collateral Administrator, the Account Bank, the Collateral Custodian and their respective successors and permitted assigns. With the prior written consent of the Administrative Agent (unless such assignment is to an Affiliate of a Lender or is otherwise required by Applicable Law), each Lender and their respective successors and assigns may assign, grant a security interest or sell a participation interest in, (i) this Agreement and such ▇▇▇▇▇▇'s rights and obligations hereunder and interest herein in whole or in part (including by way of the sale of participation interests therein) and/or (ii) any Advance or the I/O Loan (or portion thereof) to any Person; provided that, so long as no Event of Default has occurred and is continuing, the Borrower has provided its written consent (such consent not to be unreasonably withheld, conditioned or delayed) to such assignment to any Person that is not a Lender or an Affiliate of a Lender (but, for the avoidance of doubt, no such consent of the Borrower shall be required for an assignment of the I/O Loan (or portion thereof), any grant of a security interest or sale of a participation interest to any Person, an assignment to a Lender or an Affiliate of a Lender or an assignment that is required by Applicable Law). Any such assignee shall execute and deliver to the Servicer, the Borrower and the Administrative Agent a fully-executed assignment and acceptance agreement in the form of Exhibit K hereto (an "Assignment and Acceptance"). The parties to any such assignment, grant or sale of a participation interest shall execute and deliver to the related Lender for its acceptance and recording in its books and records, such agreement or document as may be satisfactory to such parties and the applicable Lender. None of the Borrower, the Transferor or the Servicer may assign, or permit any Lien to exist upon, any of its rights or obligations hereunder or under any Transaction Document or any interest herein or in any Transaction Document without the prior written consent of each Lender and the Administrative Agent.