Obligant definition
Examples of Obligant in a sentence
In its dealings with the Obligant, the Creditor need not enquire into the authority or power of any person purporting to act for or on behalf of the Obligant.
Any notice, direction or other communication to be given under this Guarantee shall, except as otherwise permitted hereunder, be in writing and given in the same manner as provided in the documents evidencing the Secured Obligations, with any communication to the Guarantor to be given to the Guarantor at the relevant address specified for the Obligant.
The Creditor shall not be prejudiced in any way in the right to enforce any provision of this Guarantee by any act or failure to act on the part of the Obligant or the Creditor.
Nothing contained in the Loan Documents shall require any Obligant at any time to pay interest at a rate exceeding the Maximum Permissible Rate.
This Guarantee shall continue to be effective or be reinstated, as the case may be, if at any time any payment of any of the Guaranteed Obligations is rescinded or must otherwise be returned by the Creditor upon the insolvency, bankruptcy or reorganization of the Obligant or otherwise, all as though such payment had not been made.
Each change to such rate from time to time shall cause an immediate and automatic adjustment of any interest rate based thereon, from the effective date of such change, calculated in accordance with FCC’s usual practices and without notice to any Obligant.
Any change or changes in the name of or reorganization (whether' by way of reconstruction, consolidation, amalgamation, merger, transfer, sale, lease or otherwise) or any change in partners of the Obligant, if applicable, shall not affect or in any way limit or lessen the liability of the Guarantor under this Guarantee.
The Obligants agree to make such amendments to the Loan Documents as may be reasonably requested by FCC to facilitate the granting by FCC of participation in or assignments of its interest in the Loan Documents, in whole or in part, provided that no such amendment shall have the effect of increasing any costs payable by the Obligants under the Loan Documents or increasing the obligations of the Obligant thereunder.
Subject to section 2.3, any loss of or in respect of any security received by the Creditor from the Obligant or any other person shall not discharge pro tanto or limit or lessen the liability of the Guarantor under this Guarantee.
The execution of this Agreement by any Person on behalf of a Corporate Obligant is deemed to be a representation and warranty by such Person that such Person is duly authorized to bind such Corporate Obligant.