Buyer Obligations definition
Examples of Buyer Obligations in a sentence
The provisions of this Section 10.16 shall remain in full force and effect and shall be binding on Parent and Intermediate Parent, and their respective successors and assigns until all of the Buyer Obligations have been satisfied in full.
In the event that any payment to Seller in respect of any Buyer Obligations is avoided, rescinded or must otherwise be returned for any reason whatsoever, Parent and Intermediate Parent shall remain liable hereunder with respect to such Buyer Obligations as if such payment to Seller had never been made.
Parent’s and Intermediate Parent’s obligations hereunder shall not be affected by the existence, validity, enforceability, perfection or extent of any other source of payment or performance of the Buyer Obligations, or collateral therefore, or by any other circumstance relating to the Buyer Obligations that might otherwise constitute a legal or equitable discharge, satisfaction of or defense to the Buyer Obligations.
Parent and Intermediate Parent each agrees that Seller may resort to Parent or Intermediate Parent for payment and performance of any of the Buyer Obligations whether or not Seller shall have resorted to any collateral or other source of payment or performance therefor or shall have proceeded against Buyer or any other obligor principally or secondarily obligated with respect to any of the Buyer Obligations.
Seller shall not be obligated to file any claim or take any other action relating to the Buyer Obligations in the event that Buyer becomes subject to a bankruptcy, reorganization or similar proceeding, and the failure of Seller to so file shall not affect Parent’s or Intermediate Parent’s obligations hereunder.