Common use of Primary Obligation Clause in Contracts

Primary Obligation. No invalidity, irregularity or unenforceability of all or any part of the Borrowers’ joint and several liability or of any security therefor or other recourse with respect thereto shall affect, impair or be a defense to the other Borrowers’ joint and several liability, and all Debt and other obligations under this Agreement and the Loan Documents are primary Debt and obligations of each Borrower.

Appears in 6 contracts

Samples: Credit Agreement (James River Group Holdings, Ltd.), Credit Agreement (James River Group Holdings, Ltd.), Credit Agreement (James River Group Holdings, Ltd.)

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Primary Obligation. No invalidity, irregularity or unenforceability of all or any part of the Borrowers’ either Borrower's joint and several liability or of any security therefor or other recourse with respect thereto shall affect, impair or be a defense to the other Borrowers’ Borrower's joint and several liability, and all Debt and other obligations under the Note and this Agreement and the Loan Documents are primary Debt and obligations of each Borrower.

Appears in 4 contracts

Samples: Agreement (PDS Gaming Corp), Master Loan Agreement (PDS Financial Corp), Master Loan Agreement (PDS Financial Corp)

Primary Obligation. No invalidity, irregularity or unenforceability of all or any part of the Domestic Borrowers’ joint and several liability or of any security therefor or other recourse with respect thereto shall affect, impair or be a defense to the other Domestic Borrowers’ joint and several liability, and all Debt and other obligations Obligations under this Agreement and the Loan Documents are primary Debt and obligations Obligations of each Domestic Borrower.

Appears in 2 contracts

Samples: Credit Agreement (Stoneridge Inc), Credit Agreement (Stoneridge Inc)

Primary Obligation. No invalidity, irregularity or unenforceability of all or any part of the Borrowers’ Borrower's or Guarantors' joint and several liability or of any security therefor or other recourse with respect thereto shall affect, impair or be a defense to the any other Borrowers’ Loan Party's joint and several liability, and all Debt and other obligations under the Note and this Agreement and the Loan Documents are primary Debt and obligations of Borrower and each BorrowerGuarantor.

Appears in 1 contract

Samples: Loan Agreement (Asset Investors Corp)

Primary Obligation. No invalidity, irregularity or unenforceability of all or any part of the Borrowers’ any Borrower’s joint and several liability or of any security therefor or other recourse with respect thereto shall affect, impair or be a defense to the any other Borrowers’ Borrower’s joint and several liability, and all Debt and other obligations under the Notes and this Agreement and the Loan Documents are primary Debt and obligations of each Borrower.

Appears in 1 contract

Samples: Credit Agreement (MGC DIAGNOSTICS Corp)

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Primary Obligation. No invalidity, irregularity or unenforceability of all or any part of the Borrowers’ either Borrower's joint and several liability or of any security therefor or other recourse with respect thereto shall affect, impair or be a defense to the other Borrowers’ Borrower's joint and several liability, and all Debt and other obligations under the Note and this Agreement and the Loan Documents are primary Debt and obligations of each Borrower.. d.

Appears in 1 contract

Samples: Master Loan Agreement (PDS Financial Corp)

Primary Obligation. No invalidity, irregularity or unenforceability of all or any part of the Borrowers’ either Borrower’s joint and several liability or of any security therefor or other recourse with respect thereto shall affect, impair or be a defense to the other Borrowers’ Borrower’s joint and several liability, and all Debt and other obligations under the Note and this Agreement and the Loan Documents are primary Debt and obligations of each Borrower.

Appears in 1 contract

Samples: Master Loan Agreement (PDS Gaming Corp)

Primary Obligation. No invalidity, irregularity or unenforceability of all or any part of the Borrowers’ Borrower's or Subsidiaries' joint and several liability or of any security therefor or other recourse with respect thereto shall affect, impair or be a defense to the any other Borrowers’ Loan Party's joint and several liability, and all Debt and other obligations under the Note and this Agreement and the Loan Documents are primary Debt and obligations of Borrower and each BorrowerSubsidiary.

Appears in 1 contract

Samples: Line of Credit Agreement (Asset Investors Corp)

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