Obligants definition
Examples of Obligants in a sentence
For the purpose of confirming or disputing such a claim, a Claimant shall provide full and complete disclosure to the Obligant and complete access to and right of inspection, by the Obligant's representatives of all documents and records in the possession or control of the Claimant relating to any such claim.
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.
For these purposes FCC require complete disclosure of all aspects of the businesses of the Obligants.
The taking of judgment on any covenant contained herein will not operate to create any merger or discharge of any liability or obligation of the Obligants hereunder or under any securities of any form now held or which may be held hereafter by the Lender from the Obligants or from any other Person or Persons whomsoever.
If: in the opinion of the Lender there is a Cost Overrun; and the Borrower defaults in the payment of that Cost Overrun when required to do so by the Lender, the Lender may: at their option, refuse to make any further advances under the Credit Facilities until such time as satisfactory arrangements to cover the Cost Overrun have been made; and/or make demand upon the Obligants to pay the Cost Overrun.
The obligations of the Obligants under Sections 2.1, 3.1 and 4.1 hereof will be continuing obligations, on a joint and several basis, in favour of the Lender which will not be terminated by reason of any demand being made by the Lender under this Agreement.
If the Borrowers and FCC are unable to agree upon revision, the Obligants shall continue to provide Financial Statements, certificates and other information required under the Loan Documents in accordance with US GAAP as it existed on the date of this Agreement and any such covenant, ratio, term or provision shall continue to be interpreted in accordance with US GAAP as it existed on the date of this Agreement.
In the event the Lender makes a demand pursuant to this Section 4.1, the Obligants will be obligated to, and will, immediately pay any Cost Overrun then outstanding and will on demand immediately pay any Cost Overrun which may, from time to time, arise thereafter.
The Obligants agree that the rights and remedies of FCC under the Loan Documents are cumulative and in addition to, and not in substitution for, any rights or remedies provided by law; any single or partial exercise by FCC of any right or remedy for a default or breach of any term, covenant, condition or agreement in the Loan Documents does not affect its rights and does not waive, alter, affect, or prejudice any other right or remedy to which FCC may be lawfully entitled for the same default or breach.
In the event the Lender makes a demand pursuant to this Section 3.1, the Obligants will be obligated to, and will, at their cost and expense, immediately pay any Debt Service Amount then outstanding and any Debt Service Amount accruing due thereafter, when due under the Credit Agreement unless the Borrower pays the same.