Common use of Obligations of Banks Several Clause in Contracts

Obligations of Banks Several. The obligations of the Banks hereunder to make Loans, to accept and purchase Bankers’ Acceptances, to fund participations in Letters of Credit and Swing Line Loans and to make payments pursuant to §18.2 are several and not joint. The failure of any Bank to make any Loan, to accept and purchase Bankers’ Acceptances, to fund any such participation or to make any payment under §18.2 on any date required hereunder shall not relieve any other Bank of its corresponding obligation to do so on such date, and no Bank shall be responsible for the failure of any other Bank to so make its Loan, to accept and purchase Bankers’ Acceptances, to purchase its participation or to make its payment under §18.2.

Obligations of Banks Several. The obligations of the Banks hereunder to make Loans, to accept and purchase Bankers’ Acceptances, to fund participations in Letters of Credit and Swing Line Loans and to make payments pursuant to §18.2 are several and not joint. The failure of any Bank to make any Loan, to accept and purchase Bankers’ Acceptances, to fund any such participation or to make any payment under §18.2 on any date required hereunder shall not relieve any other Bank of its corresponding obligation to do so on such date, and no Bank shall be responsible for the failure of any other Bank to so make its Loan, to accept and purchase Bankers’ Acceptances, to purchase its participation or to make its payment under Section §18.2.