Common use of Obligations Several and Not Joint Clause in Contracts

Obligations Several and Not Joint. The obligations of the Holders hereunder shall be several (and not joint). A Holder shall not be responsible for the failure of any other Holders to perform any obligation required to be performed by it hereunder. The obligations of the Company at any time hereunder to each Holders shall be separate and independent obligations. Each Holder shall be entitled to protect and enforce its rights arising out of this Agreement as it shall see fit, and it shall not be necessary for any other Holders to consent to, or be joined as an additional party in, any proceedings for such purposes.