Common use of No Obligations of Borrower Clause in Contracts

No Obligations of Borrower. Nothing contained in this Section 9 shall be deemed to impose upon Borrower any obligation in respect of the due and punctual performance by Agent of its obligations to Lenders or Swingline Lender under any provision of this Agreement, and Borrower shall have no liability to Agent, Swingline Lender or any Lender in respect of any failure by Agent, Swingline Lender or any Lender to perform any of their respective obligations to each other under this Agreement. Without limiting the generality of the foregoing sentence, where any provision of this Agreement relating to the payment of any amounts due and owing under the Loan Documents provides that such payments shall be made by Borrower to Agent for the account of Lenders, Borrower's obligations to Lenders in respect of such payments shall be deemed to be satisfied upon the making of such payments to Agent in the manner provided by this Agreement.

Appears in 1 contract

Samples: Security Agreement (Leasing Solutions Inc)

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No Obligations of Borrower. Nothing contained in this Section 9 13 shall be deemed to impose upon Borrower any obligation in respect of the due and punctual performance by Servicing Agent of its obligations to Lenders or Swingline Lender under any provision of this Agreement, and Borrower shall have no liability to Agent, Swingline Lender Servicing Agent or any Lender in respect of 37 42 any failure by Agent, Swingline Lender Servicing Agent or any Lender to perform any of their respective obligations to each other under this Agreement. Without limiting the generality of the foregoing sentence, where any provision of this Agreement relating to the payment of any amounts due and owing under the Loan Documents provides that such payments shall be made by Borrower to Servicing Agent for the account of Lenders, Borrower's obligations to Lenders in respect of such payments shall be deemed to be satisfied upon the making of such payments to Servicing Agent in the manner provided by this Agreement.

Appears in 1 contract

Samples: Loan and Security Agreement (Vtel Corp)

No Obligations of Borrower. Nothing contained in this Section 9 Article 8 shall be deemed to impose upon Borrower any obligation in respect of the due and punctual performance by the Agent of its obligations to Lenders or Swingline Lender the Banks under any provision of this Agreement, and Borrower shall have no liability to Agent, Swingline Lender the Agent or any Lender of the Banks in respect of any failure by Agent, Swingline Lender the Agent or any Lender Bank to perform any of their respective its obligations to each other the Agent or the Banks under this Agreement. Without limiting the generality of the foregoing sentenceforegoing, where any provision of this Agreement relating to the payment of any amounts due and owing under the Loan Documents provides that such payments shall be made by Borrower to the Agent for the account of Lendersthe Banks, Borrower's obligations to Lenders the Banks in respect of such payments shall be deemed to be satisfied upon the making of such payments to the Agent in the manner provided by this Agreement.

Appears in 1 contract

Samples: Credit Agreement (Furon Co)

No Obligations of Borrower. Nothing contained in this Section 9 13 shall be deemed to impose upon Borrower any obligation in respect of the due and punctual performance by Servicing Agent of its obligations to Lenders or Swingline Lender under any provision of this Agreement, and Borrower shall have no liability to Agent, Swingline Lender Servicing Agent or any Lender in respect of any failure by Agent, Swingline Lender Servicing Agent or any Lender to perform any of their respective obligations to each other under this Agreement. Without limiting the generality of the foregoing sentence, where any provision of this Agreement relating to the payment of any amounts due and owing under the Loan Documents provides that such payments shall be made by Borrower to Servicing Agent for the account of Lenders, Borrower's obligations to Lenders in respect of such payments shall be deemed to be satisfied upon the making of such payments to Servicing Agent in the manner provided by this Agreement.

Appears in 1 contract

Samples: Loan and Security Agreement (Vtel Corp)

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No Obligations of Borrower. Nothing contained in this Section 9 Article VII shall be deemed to impose upon Borrower any obligation in respect of the due and punctual performance by any Agent of its obligations to Lenders or Swingline Lender the Bank Parties under any provision of this Agreement, and Borrower shall have no liability to Agent, Swingline Lender any Agent or any Lender Bank Party in respect of any failure by Agent, Swingline Lender any Agent or any Lender Bank Party to perform any of their respective obligations to each other under this Agreement. Without limiting the generality of the foregoing sentence, where any provision of this Agreement relating to the payment of any amounts due and owing under the Loan Documents provides that such payments shall be made by Borrower to the Administrative Agent for the account of Lendersthe Bank Parties, Borrower's obligations to Lenders the Bank Parties in respect of such payments shall be deemed to be satisfied upon the making of such payments to Administrative Agent in the manner provided by this Agreement.

Appears in 1 contract

Samples: Credit Agreement (Quantum Corp /De/)

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