Common use of One Obligation Clause in Contracts

One Obligation. Without in any way limiting any Guarantee of any Obligor of the Obligations of any other Obligor, (a) the Canadian Revolver Loans, the Canadian LC Obligations and the other Canadian Facility Obligations owing by each Canadian Facility Obligor constitute one general obligation of the Canadian Facility Obligors and (unless otherwise expressly provided in any Loan Document) shall be secured by Agent’s or applicable Security Trustee’s Lien upon all Collateral of each Canadian Facility Obligor, provided that each Credit Party shall be deemed to be a creditor of, and the holder of a separate claim against, each Canadian Facility Obligor to the extent of any Canadian Facility Obligations jointly or severally owed by such Canadian Facility Obligor to such Credit Party, (b) the UK Revolver Loans, the UK LC Obligations and the other UK Facility Obligations owing by each UK Facility Obligor constitute one general obligation of the UK Facility Obligors and (unless otherwise expressly provided in any Loan Document) shall be secured by Agent’s and UK Security Trustee’s Lien upon all Collateral of each UK Facility Obligor, provided that each Credit Party shall be deemed to be a creditor of, and the holder of a separate claim against, each UK Facility Obligor to the extent of any UK Facility Obligations owed by such UK Facility Obligor to such Credit Party and (c) the U.S. Revolver Loans, the U.S. LC Obligations and the other U.S. Facility Obligations owing by each U.S. Facility Obligor constitute one general obligation of the U.S. Facility Obligors and (unless otherwise expressly provided in any Loan Document) shall be secured by Agent’s or the applicable Security Trustee’s Lien upon all Collateral of each U.S. Facility Obligor, provided that each Credit Party shall be deemed to be a creditor of, and the holder of a separate claim against, each U.S. Facility Obligor to the extent of any U.S. Facility Obligations jointly or severally owed by such U.S. Facility Obligor to such Credit Party.

Appears in 3 contracts

Samples: Loan Agreement (Horizon Global Corp), Loan Agreement (Horizon Global Corp), Loan Agreement (Horizon Global Corp)

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One Obligation. Without in any way limiting any Guarantee of any Obligor of the Obligations of any other ObligorSecured Obligations, (a) the Canadian Revolver LoansU.S. Facility Secured Obligations owing by each U.S. Facility Loan Party shall constitute one general obligation of the U.S. Facility Loan Parties and (unless otherwise expressly provided in any Credit Document) shall be secured by the Agent’s Lien upon all Collateral of each U.S. Facility Loan Party, provided that each Credit Party shall be deemed to be a creditor of, and the holder of a separate claim against, each U.S. Facility Loan Party to the extent of any U.S. Facility Secured Obligations owed by such U.S. Facility Loan Party to such Credit Party, (b) the Canadian LC Obligations and the other Canadian Facility Secured Obligations owing by each Canadian Facility Obligor Loan Party shall constitute one general obligation of the Canadian Facility Obligors Loan Parties and (unless otherwise expressly provided in any Loan Credit Document) shall be secured by the Agent’s or applicable Security Trustee’s Lien upon all Collateral of each Canadian Facility ObligorLoan Party, provided that each Credit Party shall be deemed to be a creditor of, and the holder of a separate claim against, each Canadian Facility Obligor Loan Party to the extent of any Canadian Facility Secured Obligations jointly or severally owed by such Canadian Facility Obligor Loan Party to such Credit Party, (bc) the Singapore Facility Secured Obligations owing by each Singapore Facility Loan Party shall constitute one general obligation of the Singapore Facility Loan Parties and (unless otherwise expressly provided in any Credit Document) shall be secured by the Agent’s and Singapore Security Trustee’s Lien upon all Collateral of each Singapore Facility Loan Party, provided that each Credit Party shall be deemed to be a creditor of, and the holder of a separate claim against, each Singapore Facility Loan Party to the extent of any Singapore Facility Secured Obligations owed by such Singapore Facility Loan Party to such Credit Party, and (d) the UK Revolver Loans, the UK LC Obligations and the other UK Facility Secured Obligations owing by each UK Facility Obligor Loan Party shall constitute one general obligation of the UK Facility Obligors Loan Parties and (unless otherwise expressly provided in any Loan Credit Document) shall be secured by the Agent’s and UK Security Trustee’s Lien upon all Collateral of each UK Facility ObligorLoan Party, provided that each Credit Party shall be deemed to be a creditor of, and the holder of a separate claim against, each UK Facility Obligor Loan Party to the extent of any UK Facility Secured Obligations owed by such UK Facility Obligor to such Credit Loan Party and (c) the U.S. Revolver Loans, the U.S. LC Obligations and the other U.S. Facility Obligations owing by each U.S. Facility Obligor constitute one general obligation of the U.S. Facility Obligors and (unless otherwise expressly provided in any Loan Document) shall be secured by Agent’s or the applicable Security Trustee’s Lien upon all Collateral of each U.S. Facility Obligor, provided that each Credit Party shall be deemed to be a creditor of, and the holder of a separate claim against, each U.S. Facility Obligor to the extent of any U.S. Facility Obligations jointly or severally owed by such U.S. Facility Obligor to such Credit Party.

Appears in 1 contract

Samples: Loan, Security and Guarantee Agreement (Edgen Group Inc.)

One Obligation. Without in any way limiting any Guarantee of any Obligor (and for the avoidance of the Obligations doubt inclusive of any other Obligorapplicable Guarantee limitations) or the provisions under Section 12.2.13 with respect to the Secured Obligations, (a) the Canadian Revolver Loans, the Canadian LC Obligations and the other Canadian U.S. Facility Secured Obligations owing by each Canadian Facility Obligor U.S. Domiciled Loan Party shall constitute one general obligation of the Canadian Facility Obligors U.S. Domiciled Loan Parties and (unless otherwise expressly provided in any Loan Credit Document) shall be secured by Agent’s or applicable Lien upon all Collateral of each U.S. Domiciled Loan Party, provided, that each Credit Party shall be deemed to be a creditor of, and the holder of a separate claim against, each U.S. Domiciled Loan Party to the extent of any U.S. Facility Secured Obligations owed by such U.S. Domiciled Loan Party to such Credit Party, (b) the Australian Facility Secured Obligations owing by each Australian Domiciled Loan Party shall constitute one general obligation of the Australian Domiciled Loan Parties and (unless otherwise expressly provided in any Credit Document) shall be secured by Agent’s and AUS-NZ Security Trustee’s Liens upon all Collateral of each Australian Domiciled Loan Party, provided, that each Credit Party shall be deemed to be a creditor of, and the holder of a separate claim against, each Australian Domiciled Loan Party to the extent of any Australian Facility Secured Obligations owed by such Australian Domiciled Loan Party to such Credit Party, (c) the Belgian Facility Secured Obligations owing by each Belgian Domiciled Loan Party shall constitute one general obligation of the Belgian Domiciled Loan Parties and (unless otherwise expressly provided in any Credit Document) shall be secured by Agent’s and European Security Trustee’s Liens upon all Collateral of each Belgian Domiciled Loan Party, provided, that each Credit Party shall be deemed to be a creditor of, and the holder of a separate claim against, each Belgian Domiciled Loan Party to the extent of any Belgian Facility Secured Obligations owed by such Belgian Domiciled Loan Party to such Credit Party, (d) the Canadian Facility Secured Obligations owing by each Canadian Domiciled Loan Party shall constitute one general obligation of the Canadian Domiciled Loan Parties and (unless otherwise expressly provided in any Credit Document) shall be secured by Agent’s Lien upon all Collateral of each Canadian Facility ObligorDomiciled Loan Party, provided provided, that each Credit Party shall be deemed to be a creditor of, and the holder of a separate claim against, each Canadian Facility Obligor Domiciled Loan Party to the extent of any Canadian Facility Secured Obligations jointly or severally owed by such Canadian Facility Obligor Domiciled Loan Party to such Credit Party, (be) the UK Revolver Loans, the UK LC Obligations and the other UK Dutch Facility Secured Obligations owing by each UK Facility Obligor Dutch Domiciled Loan Party shall constitute one general obligation of the UK Facility Obligors Dutch Domiciled Loan Parties and (unless otherwise expressly provided in any Loan Credit Document) shall be secured by Agent’s and European Security Trustee’s Liens upon all Collateral of each Dutch Domiciled Loan Party, provided, that each Credit Party shall be deemed to be a creditor of, and the holder of a separate claim against, each Dutch Domiciled Loan Party to the extent of any Dutch Facility Secured Obligations owed by such Dutch Domiciled Loan Party to such Credit Party, (f) the New Zealand Facility Secured Obligations owing by each New Zealand Domiciled Loan Party shall constitute one general obligation of the New Zealand Domiciled Loan Parties and (unless otherwise expressly provided in any Credit Document) shall be secured by Agent’s and AUS-NZ Security Trustee’s Liens upon all Collateral of each New Zealand Domiciled Loan Party, provided, that each Credit Party shall be deemed to be a creditor of, and the holder of a separate claim against, each New Zealand Domiciled Loan Party to the extent of any New Zealand Facility Secured Obligations owed by such New Zealand Domiciled Loan Party to such Credit Party, (g) the Norwegian Facility Secured Obligations owing by each Norwegian Domiciled Loan Party shall constitute one general obligation of the Norwegian Domiciled Loan Parties and (unless otherwise expressly provided in any Credit Document) shall be secured by Agent’s Liens upon all Collateral of each Norwegian Domiciled Loan Party, provided, that each Credit Party shall be deemed to be a creditor of, and the holder of a separate claim against, each Norwegian Domiciled Loan Party to the extent of any Norwegian Facility Secured Obligations owed by such Norwegian Domiciled Loan Party to such Credit Party, (h) the Singapore Facility Secured Obligations owing by each Singapore Domiciled Loan Party shall constitute one general obligation of the Singapore Domiciled Loan Parties and (unless otherwise expressly provided in any Credit Document) shall be secured by Agent’s Lien upon all Collateral of each Singapore Domiciled Loan Party, provided, that each Credit Party shall be deemed to be a creditor of, and the holder of a separate claim against, each Singapore Domiciled Loan Party to the extent of any Singapore Facility Secured Obligations owed by such Singapore Domiciled Loan Party to such Credit Party, and (i) the UK Facility Secured Obligations owing by each UK Domiciled Loan Party shall constitute one general obligation of the UK Domiciled Loan Parties and (unless otherwise expressly provided in any Credit Document) shall be secured by Agent’s and European Security Trustee’s Lien upon all Collateral of each UK Facility ObligorDomiciled Loan Party, provided provided, that each Credit Party shall be deemed to be a creditor of, and the holder of a separate claim against, each UK Facility Obligor Domiciled Loan Party to the extent of any UK Facility Secured Obligations owed by such UK Facility Obligor to such Credit Domiciled Loan Party and (c) the U.S. Revolver Loans, the U.S. LC Obligations and the other U.S. Facility Obligations owing by each U.S. Facility Obligor constitute one general obligation of the U.S. Facility Obligors and (unless otherwise expressly provided in any Loan Document) shall be secured by Agent’s or the applicable Security Trustee’s Lien upon all Collateral of each U.S. Facility Obligor, provided that each Credit Party shall be deemed to be a creditor of, and the holder of a separate claim against, each U.S. Facility Obligor to the extent of any U.S. Facility Obligations jointly or severally owed by such U.S. Facility Obligor to such Credit Party.

Appears in 1 contract

Samples: Intercreditor Agreement (MRC Global Inc.)

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One Obligation. Without in any way limiting any Guarantee of any Obligor of the Obligations of any other ObligorSecured Obligations, (a) the Canadian Revolver LoansU.S. Facility Secured Obligations owing by each U.S. Facility Loan Party shall constitute one general obligation of the U.S. Facility Loan Parties and (unless otherwise expressly provided in any Credit Document) shall be secured by Agent’s Lien upon all Collateral of each U.S. Facility Loan Party, provided, that each Credit Party shall be deemed to be a creditor of, and the holder of a separate claim against, each U.S. Facility Loan Party to the extent of any U.S. Facility Secured Obligations owed by such U.S. Facility Loan Party to such Credit Party, (b) the Australian Facility Secured Obligations owing by each Australian Facility Loan Party shall constitute one general obligation of the Australian Facility Loan Parties and (unless otherwise expressly provided in any Credit Document) shall be secured by Agent’s and AUZ-NZ Security Trustee’s Liens upon all Collateral of each Australian Facility Loan Party, provided, that each Credit Party shall be deemed to be a creditor of, and the holder of a separate claim against, each Australian Facility Loan Party to the extent of any Australian Facility Secured Obligations owed by such Australian Facility Loan Party to such Credit Party, (c) the Belgian Facility Secured Obligations owing by each Belgian Facility Loan Party shall constitute one general obligation of the Belgian Facility Loan Parties and (unless otherwise expressly provided in any Credit Document) shall be secured by Agent’s and European Security Trustee’s Liens upon all Collateral of each Belgian Facility Loan Party, provided, that each Credit Party shall be deemed to be a creditor of, and the holder of a separate claim against, each Belgian Facility Loan Party to the extent of any Belgian Facility Secured Obligations owed by such Belgian Facility Loan Party to such Credit Party, (d) the Canadian LC Obligations and the other Canadian Facility Secured Obligations owing by each Canadian Facility Obligor Loan Party shall constitute one general obligation of the Canadian Facility Obligors Loan Parties and (unless otherwise expressly provided in any Loan Credit Document) shall be secured by Agent’s or applicable Security Trustee’s Lien upon all Collateral of each Canadian Facility ObligorLoan Party, provided provided, that each Credit Party shall be deemed to be a creditor of, and the holder of a separate claim against, each Canadian Facility Obligor Loan Party to the extent of any Canadian Facility Secured Obligations jointly or severally owed by such Canadian Facility Obligor Loan Party to such Credit Party, (be) the UK Revolver Loans, the UK LC Obligations and the other UK Dutch Facility Secured Obligations owing by each UK Dutch Facility Obligor Loan Party shall constitute one general obligation of the UK Dutch Facility Obligors Loan Parties and (unless otherwise expressly provided in any Loan Credit Document) shall be secured by Agent’s and European Security Trustee’s Liens upon all Collateral of each Dutch Facility Loan Party, provided, that each Credit Party shall be deemed to be a creditor of, and the holder of a separate claim against, each Dutch Facility Loan Party to the extent of any Dutch Facility Secured Obligations owed by such Dutch Facility Loan Party to such Credit Party, (f) the New Zealand Facility Secured Obligations owing by each New Zealand Facility Loan Party shall constitute one general obligation of the New Zealand Facility Loan Parties and (unless otherwise expressly provided in any Credit Document) shall be secured by Agent’s and AUS-NZ Security Trustee’s Liens upon all Collateral of each New Zealand Facility Loan Party, provided, that each Credit Party shall be deemed to be a creditor of, and the holder of a separate claim against, each New Zealand Facility Loan Party to the extent of any New Zealand Facility Secured Obligations owed by such New Zealand Facility Loan Party to such Credit Party, (g) the Singapore Facility Secured Obligations owing by each Singapore Facility Loan Party shall constitute one general obligation of the Singapore Facility Loan Parties and (unless otherwise expressly provided in any Credit Document) shall be secured by Agent’s Lien upon all Collateral of each Singapore Facility Loan Party, provided, that each Credit Party shall be deemed to be a creditor of, and the holder of a separate claim against, each Singapore Facility Loan Party to the extent of any Singapore Facility Secured Obligations owed by such Singapore Facility Loan Party to such Credit Party, and (h) the UK Facility Secured Obligations owing by each UK Facility Loan Party shall constitute one general obligation of the UK Facility Loan Parties and (unless otherwise expressly provided in any Credit Document) shall be secured by Agent’s and European Security Trustee’s Lien upon all Collateral of each UK Facility ObligorLoan Party, provided provided, that each Credit Party shall be deemed to be a creditor of, and the holder of a separate claim against, each UK Facility Obligor Loan Party to the extent of any UK Facility Secured Obligations owed by such UK Facility Obligor to such Credit Loan Party and (c) the U.S. Revolver Loans, the U.S. LC Obligations and the other U.S. Facility Obligations owing by each U.S. Facility Obligor constitute one general obligation of the U.S. Facility Obligors and (unless otherwise expressly provided in any Loan Document) shall be secured by Agent’s or the applicable Security Trustee’s Lien upon all Collateral of each U.S. Facility Obligor, provided that each Credit Party shall be deemed to be a creditor of, and the holder of a separate claim against, each U.S. Facility Obligor to the extent of any U.S. Facility Obligations jointly or severally owed by such U.S. Facility Obligor to such Credit Party.

Appears in 1 contract

Samples: Loan, Security and Guarantee Agreement (MRC Global Inc.)

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