Joint and Severally Liable definition

Joint and Severally Liable means where there are two or more Tenants, you will each be responsible for complying with the obligations in this Agreement both individually and together. We may seek to enforce these obligations or claim damages against any one or more of you. For example, if three Tenants are named on this Agreement and one Tenant does not pay their proportion of the Rent, we can recover the amount owed from any one of you or any group.
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Joint and Severally Liable means where there are two or more Tenants, you will each be responsible for complying with the obligations in this Agreement both individually and together. We may seek to enforce these obligations or claim damages against any one or more of you. For example, if three Tenants are named on this Agreement and one Tenant does not pay their proportion of the Rent, we can recover the amount owed from any one of you or any group. If the Tenancy is periodic and one Tenant gives notice to quit, the notice will end the Tenancy for all of you.
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Joint and Severally Liable is a legally binding phrase which means, among other obligations, each individual signing this Lease as a Tenant is legally responsible to the Landlord for any and all obligations required hereunder (rent, damages, etc.) versus a pro-rata share of any such obligation.
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Examples of Joint and Severally Liable in a sentence

  • What does Joint and Severally Liable mean?Where the Tenant is more than one person the Tenant’s covenants are joint and several.

  • Thus, Defendants’ Motion to Exclude all Evidence as to Count II against ICMC to the Extent that Bancroft Argues Defendants Patton and Bailey are Joint and Severally Liable Under Any Ownership Theory and to Dismiss Same With Prejudice will be GRANTED.

  • Who will I be Guaranteeing?Each tenant has their own Guarantor, but Guarantors are Joint and Severally Liable.What does Joint and Severally Liable mean?Where the Tenant is more than one person the Tenant’s covenants are joint and several.

  • Who will I be Guaranteeing?Each tenant has their own Guarantor, but Guarantors are Joint and Severally Liable.

  • What had developed through the grant / funding application process is the establishment of a range of partnerships, some constituted as a Joint and Severally Liable (JSL) partnership and some where a lead partner had been proposed to deliver the grant agreement.

  • Where there is more than one Tenant you will all be Joint and Severally Liable for the obligations contained within this Agreement.

  • In a number of Joint and Severally Liable partnerships have developed deeper engagement and via co production have built partnerships that are continuing outside the TSC cases partner organisations have developed a deeper engagement with one another and some JSL partnerships have made funding applications outside of the TSC arrangements and several have been successful in levering in additional resource to the city.

  • Joint and Severally Liable (JSL) occurs when two or more payers are ordered by the courts to pay restitution to the same payee for some or the entire restitution amounts ordered is to be paid as JSL.


More Definitions of Joint and Severally Liable

Joint and Severally Liable means where there are two or more Tenants, the Tenant(s) will each be responsible for complying with the obligations in this Agreement both individually and together. The Landlord(s) may seek to enforce these obligations or claim damages against any one or more of the Tenants. For example, if three Tenants are named on this Agreement and one Tenant does not pay their proportion of the Rent, the Landlord(s) can recover the amount owed from any one Tenant or any group of Tenant(s). If the Tenancy is periodic and one Tenant gives notice to quit, the notice will end the Tenancy for all Tenants.
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Joint and Severally Liable means that all tenants are jointly liable for the payment of all rent, bills and liabilities during the tenancy, in addition to any breach of the agreement. Each tenant is individually responsible for the whole rent until all payments have been made in full. (A maximum of four people can be joint tenants.) IF ANY ONE TENANT SERVES NOTICE TO END THE TENANCY THIS WILL END THE TENANCY FOR ALL TENANTS.
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Joint and Severally Liable means that all tenants are jointly liable for the payment of all rent, bills and liabilities during the tenancy, in addition to any breach of the agreement. Each tenant is individually responsible for the whole rent until all payments have been made in full. (A maximum of four people can be joint tenants.)
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Joint and Severally Liable means that each person will be responsible for complying with the obligations of and paying all charges and costs under this agreement both individually and together. ● ‘LANDLORD’, ‘YOU’ OR ‘YOUR’ means the Landlord, the owner of the property, or any other person with interest in the property, whether freehold or leasehold. ● ‘TENANT’ means anyone entitled to possession of the property under the agreement. ● ‘PROPERTY’ means any part or parts of the building, boundaries, fences, gardens, and outbuildings belonging to the Landlord. ● ‘INVENTORY’ or also known as Inventory and Schedule of Condition, means the document drawn up prior to the commencement of the tenancy by the Landlord or Agent, which includes all fixture, fittings, and condition of the property. ● ‘TERM’ OR ‘TENANCY’ means the fixed Term of the Tenancy Agreement and any extension or continuation of the tenancy whether fixed term or periodic arising after the expiry of the original term. ● ‘SUPERIOR LANDLORD’ means the person, company, or organisation to whom ownership of the property reverts at the end of the lease. ● ‘DEPOSIT’ means the money held by the Agent, to cover damage and dilapidations if the tenant fails to comply with the Tenancy Agreement.
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Related to Joint and Severally Liable

  • Guaranty Obligation has the meaning specified in the definition of "Contingent Obligation."

  • Permitted SBIC Guarantee means a guarantee by the Borrower of Indebtedness of an SBIC Subsidiary on the SBA’s then applicable form, provided that the recourse to the Borrower thereunder is expressly limited only to periods after the occurrence of an event or condition that is an impermissible change in the control of such SBIC Subsidiary (it being understood that, as provided in clause (s) of Article VII, it shall be an Event of Default hereunder if any such event or condition giving rise to such recourse occurs).

  • Contingent Obligations means, with respect to any Person, any obligation of such Person guaranteeing any leases, dividends or other obligations that do not constitute Indebtedness (“primary obligations”) of any other Person (the “primary obligor”) in any manner, whether directly or indirectly, including, without limitation, any obligation of such Person, whether or not contingent:

  • Contingent Obligation means, as to any Person, any direct or indirect liability, contingent or otherwise, of that Person with respect to any Indebtedness, lease, dividend or other obligation of another Person if the primary purpose or intent of the Person incurring such liability, or the primary effect thereof, is to provide assurance to the obligee of such liability that such liability will be paid or discharged, or that any agreements relating thereto will be complied with, or that the holders of such liability will be protected (in whole or in part) against loss with respect thereto.