Common use of No Reduction in Liability for Obligations Clause in Contracts

No Reduction in Liability for Obligations. No payment or payments made by an Obligor or received or collected by any Credit Party or any other Person by virtue of any action or proceeding or any setoff or appropriation or application at any time or from time to time in reduction of or in payment of the Obligations shall be deemed to modify, release or otherwise affect the liability of any Borrower under this Agreement for any remaining Obligations, each of whom shall remain jointly and severally liable for the payment and performance of all Obligations until Full Payment of such Obligations.

Appears in 2 contracts

Samples: Loan and Security Agreement (Bairnco Corp /De/), Loan and Security Agreement (WHX Corp)

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No Reduction in Liability for Obligations. No payment or payments made by an Obligor or received or collected by any Credit Party Administrative Agent from a Borrower or any other Person by virtue of any action or proceeding or any setoff or appropriation or application at any time or from time to time in reduction of or in payment of the Obligations shall be deemed to modify, reduce, release or otherwise affect the liability of any Borrower under this Agreement for any remaining ObligationsAgreement, each of whom shall remain jointly and severally liable for the payment and performance of all Loans and other Obligations until Full Payment of such the Obligations.

Appears in 2 contracts

Samples: Loan and Security Agreement (Insight Health Services Holdings Corp), Loan and Security Agreement (IMI of Arlington, Inc.)

No Reduction in Liability for Obligations. No payment or payments made by an Obligor or received or collected by any Credit Party Agent from a Borrower or any other Person by virtue of any action or proceeding or any setoff or appropriation or application at any time or from time to time in reduction of or in payment of the Obligations shall be deemed to modify, reduce, release or otherwise affect the liability of any Borrower under this Agreement for any remaining ObligationsAgreement, each of whom shall remain jointly and severally liable for the payment and performance of all Loans and other Obligations until the Full Payment of such the Obligations.

Appears in 2 contracts

Samples: Loan and Security Agreement (Mastec Inc), Loan and Security Agreement (Mastec Inc)

No Reduction in Liability for Obligations. No payment or payments made by an Obligor or received or collected by any Credit Party Lender from a Borrower or any other Person by virtue of any action or proceeding or any setoff or appropriation or application at any time or from time to time in reduction of or in payment of the Obligations shall be deemed to modify, reduce, release or otherwise affect the liability of any Borrower under this Agreement for any remaining Obligations(except to the extent so reduced or paid), each of whom shall remain jointly and severally liable for the payment and performance of all Revolver Loans and other Obligations until Full Payment of such the Obligations.

Appears in 1 contract

Samples: Post Petition Loan and Security Agreement (Enpro Industries, Inc)

No Reduction in Liability for Obligations. No payment or payments made by an Obligor or received or collected by the Administrative Agent or any Credit Party Lender from any Collateral or any other Person by virtue of any action or proceeding or any setoff or appropriation or application at any time or from time to time in reduction of or in payment of the Obligations shall be deemed to modify, reduce, release or otherwise affect the liability of any Borrower under this Agreement for any remaining ObligationsAgreement, each of whom which shall remain jointly and severally liable for the payment and performance of all Revolving Loans and other Obligations until Full Payment of such the Obligations.

Appears in 1 contract

Samples: Credit Agreement (Westpoint Stevens Inc)

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No Reduction in Liability for Obligations. No payment or payments made by an Obligor or received or collected by any Credit Party Lender from a Borrower or any other Person by virtue of any action or proceeding or any setoff or appropriation or application at any time or from time to time in reduction of or in payment of the Obligations shall be deemed to modify, reduce, release or otherwise affect the liability of any Borrower under this Agreement for any remaining ObligationsAgreement, each of whom shall remain jointly and severally liable for the payment and performance of all Loans and other Obligations until Full Payment of such the Obligations.

Appears in 1 contract

Samples: Post Petition Loan and Security Agreement (Insight Health Services Holdings Corp)

No Reduction in Liability for Obligations. No payment or payments made by an Obligor or received or collected by any Credit Party Agent from a Borrower or any other Person by virtue of any action or proceeding or any setoff or appropriation or application at any time or from time to time in reduction of or in payment of the Obligations shall be deemed to modify, reduce, release or otherwise affect the liability of any Borrower under this Agreement for any remaining ObligationsAgreement, each of whom shall remain jointly and severally liable for the payment and performance of all Loans and other Obligations until Full Payment of such the Obligations.

Appears in 1 contract

Samples: Loan and Security Agreement (Alpharma Inc)

No Reduction in Liability for Obligations. No payment or payments made by an Obligor any Loan Party or received or collected by the Administrative Agent or any Credit Party Lender from any Borrower or any other Person by virtue of any action or proceeding or any setoff or appropriation or application at any time or from time to time in reduction of or in payment of the Obligations shall be deemed to modify, reduce, release or otherwise affect the liability of any Borrower under this Agreement for any remaining Obligationsand the other Loan Documents, each of whom shall remain jointly and severally liable for the payment and performance of all Loans and other Obligations until Payment in Full Payment of such the Obligations.

Appears in 1 contract

Samples: Revolving Credit and Term Loan Agreement (HireQuest, Inc.)

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