Nature of Borrowers Obligations. Any payment obligation of the Borrowers or the Loan Parties under Section 2.09, 2.11, 2.13 or 9.04 shall be the joint and several obligation of each Borrower or Loan Party, as the case may be.
Nature of Borrowers Obligations. (a) Notwithstanding anything to the contrary contained elsewhere in this Agreement, it is understood and agreed by the various parties to this Agreement that all Obligations to repay principal of, interest on, and all other amounts with respect to, all Revolving Loans, Swingline Loans, LC Disbursements, Protective Advances and Overadvances and all other Obligations pursuant to this Agreement and under any Note (including, without limitation, all fees, indemnities, taxes and other Obligations in connection therewith or in connection with the related Commitments) shall constitute the joint and several obligations of the Company, Broyhill, HDM, Lane and Thomasville. In addition to the direct (and joint and several) obligations of the Borrowers with respect to Obligations as described above, all such Obligations shall be guaranteed pursuant to, and in accordance with the terms of, the Loan Guaranty.
Nature of Borrowers Obligations. Each Borrower acknowledges and agrees that the liability of each Borrower for all Obligations, and under this Agreement and each Loan Document, is joint and several.
Nature of Borrowers Obligations. The obligations and liabilities of the Guarantor under this Agreement are primary obligations of the Guarantor, are absolute, unconditional and irrevocable, shall not be subject to any counterclaim, recoupment, set-off, reduction or defense based on any claim that the Guarantor may have against the Lender, any Obligor or any of their respective affiliates, and shall remain in full force and effect until terminated in accordance with Section 16 (subject to reinstatement as provided in Section 17), without regard to, and without being released, discharged, impaired, modified or in any way affected by, the occurrence from time to time of any event, circumstance or condition, including any one or more of the following, whether or not with notice to, or the consent of, the Guarantor: (a) the invalidity or unenforceability, in whole or in part, of any of the Loan Documents; (b) any failure or refusal to give notice to the Guarantor of the occurrence of any event of default under any of the Loan Documents; (c) any modification, amendment or supplement (whether material or otherwise) of any obligation, covenant or agreement contained in any of the Loan Documents, or of the terms of payment of any of the Borrower’s Obligations or the interest rate applicable thereto; (d) any assignment or transfer (whether voluntarily or by operation of law) of the Loans or of any of the Loan Documents or of any interest therein or thereunder; (e) any compromise, settlement, release or termination of any of the obligations or agreements of any Obligor under any of the Loan Documents; (f) any waiver of the payment, performance or observance of any Obligor’s obligations or agreements under any of the Loan Documents; (g) any consent, extension, indulgence or other action or inaction (including any lack of diligence or failure to mitigate damages) with respect to any of the Loan Documents, or any exercise or non-exercise of any right, power, remedy or privilege with respect to any of the Loan Documents; (h) any failure or omission to exercise any right, power, privilege or remedy under any of the Loan Documents; (i) any extension of time for payment or performance of any of the Borrower’s Obligations or any other obligations or agreements under any of the Loan Documents; (j) any furnishing or accepting of additional Property, or any release, modification, substitution, nonexistence, invalidity or lack of value of any Property; (k) the death of, voluntary or involuntary liquidation, reo...
Nature of Borrowers Obligations. (a) Notwithstanding anything to the contrary herein, the U.S. Borrowers shall have joint and several liability in respect of all Obligations hereunder and under any other Loan Document to which any Borrower is a party, without regard to any defense (other than the defense of payment), setoff or counterclaim which may at any time be available to or be asserted by any other Loan Party against the Lenders, or by any other circumstance whatsoever (with or without notice to or knowledge of the Borrowers) which constitutes, or might be construed to constitute, an equitable or legal discharge of the Borrowers’ liability hereunder, in bankruptcy or in any other instance, and such Obligations of the Borrowers shall not be conditioned or contingent upon the pursuit by the Lenders or any other person at any time of any right or remedy against the Borrowers or against any other person which may be or become liable in respect of all or any part of the Obligations or against any Collateral or Guarantee therefor or right of offset with respect thereto. The Borrowers hereby acknowledge that this Agreement is the independent and several obligation of each U.S. Borrower (regardless of which Borrower shall have delivered a Borrowing Request) and may be enforced against each U.S. Borrower separately, whether or not enforcement of any right or remedy hereunder has been sought against any other Borrower. Each U.S. Borrower hereby expressly waives, with respect to any of the Loans made to any other Borrower hereunder and any of the amounts owing hereunder by such other Loan Parties in respect of such Loans, diligence, presentment, demand of payment, protest and all notices whatsoever, and any requirement that the Administrative Agent or any Lender exhaust any right, power or remedy or proceed against such other Loan Parties under this Agreement or any other agreement or instrument referred to herein or against any other person under any other guarantee of, or security for, any of such amounts owing hereunder. Further, the provisions of the Collateral Agreement set forth in Sections 2 thereof are hereby incorporated by reference and shall be deemed to apply to the Obligations of the U.S. Borrowers mutatis mutandis as if set forth herein.
Nature of Borrowers Obligations. (a) Notwithstanding anything to the contrary contained elsewhere in this Agreement, it is understood and agreed by the various parties to this Agreement that (x) the Canadian Obligations shall constitute obligations of the Canadian Borrower and shall be guaranteed pursuant to, and in accordance with the terms of, this Agreement, the Holdings/Lead Borrower Guaranty, the U.S. Subsidiary Guaranty and the Canadian Subsidiary Guaranty and (y) the German Obligations shall constitute obligations of the German Borrower and shall be guaranteed pursuant to, and in accordance with the terms of, this Agreement, the Holdings/Lead Borrower Guaranty, the U.S. Subsidiary Guaranty and the German Subsidiary Guaranty.
Nature of Borrowers Obligations. Any payment obligation of the Borrowers or the Loan Parties under Section 2.08, 2.10, 2.12 or 9.04 shall be the joint and several obligation of each Borrower or Loan Party, as the case may be; provided that ACE Guaranty shall be liable only for its appropriately allocable share of any such obligation.
Nature of Borrowers Obligations. (a) The obligations of the Borrower and the Borrowing Subsidiaries hereunder and under the other Loan Documents are joint and several.
Nature of Borrowers Obligations. The Borrowers’ obligations hereunder include any payments required hereunder or under any of the Security Documents (including the disbursement of Bond proceeds and the return of any deposits or other collateral) from the Original Purchaser to the Borrower.
Nature of Borrowers Obligations. Notwithstanding anything to the contrary contained elsewhere in this Agreement, it is understood and agreed by the various parties to this Agreement that the Canadian Obligations shall constitute obligations of the Canadian Borrowers and shall be guaranteed pursuant to, and in accordance with the terms of this Agreement. Notwithstanding anything to the contrary herein or in any other Credit Document (including provisions that may override any other provision), in no event shall the Canadian Borrowers or any other Canadian Credit Party be deemed to have guaranteed or become liable or obligated for, or to have pledged any of its assets to secure, any Obligation of a US Credit Party under this Agreement or any of the other Credit Documents.
