Common use of Additional Indebtedness Clause in Contracts

Additional Indebtedness. Additional Obligations may be created from time to time at the request of any Borrower and without further authorization from or notice to any other Borrowers even though the borrowing Borrowers' financial condition may deteriorate since the date hereof. Each Borrower waives the right, if any, to require Lender to disclose to such Borrower any information it may now have or hereafter acquire concerning the other Borrowers' character, credit, Collateral, financial condition or other matters. Each Borrower has established adequate means to obtain from the other Borrowers on a continuing basis financial and other information pertaining to such Borrower's business and affairs, and assumes the responsibility for being and keeping informed of the financial and other conditions of the other Borrowers and of all circumstances bearing upon the risk of nonpayment of the Obligations which diligent inquiry would reveal. Lender need not inquire into the powers of any Borrower or the authority of any of its officers, directors, partners or agents acting or purporting to act in its behalf, and any obligations created in reliance upon the purported exercise of such power or authority is hereby guaranteed. All obligations of each Borrower to Lender heretofore, now or hereafter created shall be deemed to have been granted at each Borrower's special insistence and request and in consideration of and in reliance upon this Agreement.

Appears in 3 contracts

Samples: Loan and Security Agreement (Guess Inc Et Al/Ca/), Loan and Security Agreement (Guess Inc Et Al/Ca/), Loan and Security Agreement (Guess Inc Et Al/Ca/)

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Additional Indebtedness. Additional Obligations may be created from time to time at the request of any Borrower and without further authorization from or notice to any other Borrowers Borrower even though the borrowing Borrowers' Borrower’s financial condition may deteriorate since the date hereof. Each Borrower waives the right, if any, to require Lender Agent to disclose to such Borrower any information it may now have or hereafter acquire concerning the other Borrowers' character, credit, Collateral, financial condition or other matters. Each Borrower has established adequate means to obtain from the other Borrowers Borrowers, on a continuing basis basis, financial and other information pertaining to such Borrower's ’s business and affairs, and assumes the responsibility for being and keeping informed of the financial and other conditions of the other Borrowers and of all circumstances bearing upon the risk of nonpayment of the Obligations which diligent inquiry would reveal. Lender Agent shall not need not to inquire into the powers of any Borrower or the authority of any of its their respective officers, directors, partners or agents acting or purporting to act in its their behalf, and any obligations Obligations created in reliance upon the purported exercise of such power or authority is hereby guaranteed. All obligations Obligations of each Borrower to Lender Agent heretofore, now or hereafter created shall be deemed to have been granted at each Borrower's ’s special insistence and request and in consideration of and in reliance upon this Agreement.

Appears in 2 contracts

Samples: Loan and Security Agreement (Jazz Technologies, Inc.), Loan and Security Agreement (Jazz Technologies, Inc.)

Additional Indebtedness. Additional Obligations may be created from time to time at the request of any Borrower and without further authorization from or notice to any other Borrowers Borrower even though the borrowing Borrowers' Borrower's financial condition may deteriorate since the date hereof. Each Borrower waives the right, if any, to require Agent or any Lender to disclose to such Borrower any information it may now have or hereafter acquire concerning the other Borrowers' character, credit, Collateral, financial condition or other matters. Each Borrower has established adequate means to obtain from the other Borrowers Borrowers, on a continuing basis basis, financial and other information pertaining to such Borrower's business and affairs, and assumes the responsibility for being and keeping informed of the financial and other conditions of the other Borrowers and of all circumstances bearing upon the risk of nonpayment of the Obligations which diligent inquiry would reveal. Neither Agent nor any Lender need not inquire into the powers of any Borrower or the authority of any of its their respective officers, directors, partners or agents acting or purporting to act in its their behalf, and any obligations Obligations created in reliance upon the purported exercise of such power or authority is hereby guaranteed. All obligations Obligations of each Borrower to Lender Agent and Lenders heretofore, now or hereafter created shall be deemed to have been granted at each Borrower's special insistence and request and in consideration of and in reliance upon this Agreement.

Appears in 2 contracts

Samples: Loan and Security Agreement (Rockford Corp), Loan and Security Agreement (MTS Inc)

Additional Indebtedness. Additional Obligations may be created from time to time at the request of any Borrower and without further authorization from or notice to any other Borrowers Borrower even though the borrowing Borrowers' Borrower's financial condition may deteriorate since the date hereof. Each Borrower waives the right, if any, to require Lender to disclose to such Borrower any information it may now have or hereafter acquire concerning the other Borrowers' Borrower's character, credit, Collateral, financial condition or other matters. Each Borrower has established adequate means to obtain from the other Borrowers Borrower on a continuing basis financial and other information pertaining to such Borrower's business and affairs, and assumes the responsibility for being and keeping informed of the financial and other conditions of the other Borrowers Borrower and of all circumstances bearing upon the risk of nonpayment of the Obligations which diligent inquiry would reveal. Lender need not inquire into the powers of any Borrower of the Borrowers or the authority of any of its their respective officers, directors, partners or agents acting or purporting to act in its their behalf, and any obligations created in reliance upon the purported exercise of such power or authority is hereby guaranteed. All obligations of each Borrower Borrowers to Lender heretofore, now or hereafter created shall be deemed to have been granted at each Borrower's Borrowers' special insistence and request and in consideration of and in reliance upon this Agreement.

Appears in 2 contracts

Samples: Loan and Security Agreement (Geologistics Corp), Loan and Security Agreement (Deckers Outdoor Corp)

Additional Indebtedness. Additional Obligations may be created from time to time at the request of any Borrower and without further authorization from or notice to any other Borrowers Borrower even though the borrowing Borrowers' Borrower’s financial condition may deteriorate since the date hereof. Each Borrower waives the right, if any, to require Administrative and Collateral Agent or any Lender to disclose to such Borrower any information it may now have or hereafter acquire concerning the other Borrowers' character, credit, Collateral, financial condition or other matters. Each Borrower has established adequate means to obtain from the other Borrowers Borrowers, on a continuing basis basis, financial and other information pertaining to such Borrower's ’s business and affairs, and assumes the responsibility for being and keeping informed of the financial and other conditions of the other Borrowers and of all circumstances bearing upon the risk of nonpayment of the Obligations which diligent inquiry would reveal. Neither Administrative and Collateral Agent nor any Lender need not inquire into the powers of any Borrower or the authority of any of its their respective officers, directors, partners or agents acting or purporting to act in its their behalf, and any obligations Obligations created in reliance upon the purported exercise of such power or authority is hereby guaranteed. All obligations Obligations of each Borrower to Lender Administrative and Collateral Agent and Lenders heretofore, now or hereafter created shall be deemed to have been granted at each Borrower's ’s special insistence and request and in consideration of and in reliance upon this Agreement.

Appears in 2 contracts

Samples: Loan and Security Agreement (BlueLinx Holdings Inc.), Loan and Security Agreement (BlueLinx Holdings Inc.)

Additional Indebtedness. Additional Obligations may be created from time to time at the request of any Borrower and without further authorization from or notice to any other Borrowers Borrower even though the borrowing Borrowers' Borrower's financial condition may deteriorate since the date hereof. hereof Each Borrower waives the right, if any, to require Lender to disclose to such Borrower any information it may now have or hereafter acquire concerning the other Borrowers' Borrower's character, credit, Collateral, financial condition or other matters. Each Borrower has established adequate means to obtain from the other Borrowers Borrower on a continuing basis financial and other information pertaining to such Borrower's business and affairs, and assumes the responsibility for being and keeping informed of the financial and other conditions of the other Borrowers Borrower and of all circumstances bearing upon the risk of nonpayment of the Obligations which diligent inquiry would reveal. Lender need not inquire into the powers of any Borrower of the Borrowers or the authority of any of its their respective officers, directors, partners or agents acting or purporting to act in its their behalf, and any obligations created in reliance upon the purported exercise of such power or authority is hereby guaranteed. All obligations of each Borrower Borrowers to Lender heretofore, now or hereafter created shall be deemed to have been granted at each Borrower's special insistence and request and in consideration of and in reliance upon this Agreement.now

Appears in 1 contract

Samples: Loan and Security Agreement (Wherehouse Entertainment Inc /New/)

Additional Indebtedness. Additional Obligations may be created from time to time at the request of any Borrower and without further authorization from or notice to any other Borrowers Borrower even though the borrowing Borrowers' Borrower’s financial condition may deteriorate since the date hereof. Each Borrower waives the right, if any, to require Agent or any Lender to disclose to such Borrower any information it may now have or hereafter acquire concerning the other 103 Borrowers' character, credit, Collateral, financial condition or other matters. Each Borrower has established adequate means to obtain from the other Borrowers Borrowers, on a continuing basis basis, financial and other information pertaining to such Borrower's ’s business and affairs, and assumes the responsibility for being and keeping informed of the financial and other conditions of the other Borrowers and of all circumstances bearing upon the risk of nonpayment of the Obligations which diligent inquiry would reveal. Neither Agent nor any Lender need not inquire into the powers of any Borrower or the authority of any of its their respective officers, directors, partners or agents acting or purporting to act in its their behalf, and any obligations Obligations created in reliance upon the purported exercise of such power or authority is hereby guaranteed. All obligations Obligations of each Borrower to Lender Agent and Lenders heretofore, now or hereafter created shall be deemed to have been granted at each Borrower's ’s special insistence and request and in consideration of and in reliance upon this Agreement.

Appears in 1 contract

Samples: Loan and Security Agreement (Natrol Inc)

Additional Indebtedness. Additional Obligations may be created from time to time at the request of any Borrower and without further authorization from or notice to any other Borrowers another Borrower even though the borrowing Borrowers' Borrower's financial condition may deteriorate since the date hereof. Each Borrower waives the right, if any, to require Lender Coast to disclose to such Borrower any information it may now have or hereafter acquire concerning the other Borrowers' another Borrower's character, credit, Collateral, financial condition or other matters. Each Borrower has established adequate means to obtain from the other Borrowers another Borrower on a continuing basis financial and other information pertaining to such Borrower's business and affairs, and assumes the responsibility for being and keeping informed of the financial and other conditions of the other Borrowers another Borrower and of all circumstances bearing upon the risk of nonpayment of the Obligations which diligent inquiry would reveal. Lender Coast need not inquire into the powers of any Borrower of the Borrowers or the authority of any of its their respective officers, directors, partners or agents acting or purporting to act in its their behalf, and any obligations created in reliance upon the purported exercise of such power or authority is hereby guaranteed. All obligations of each Borrower the Borrowers to Lender Coast heretofore, now or hereafter created shall be deemed to have been granted at each Borrower's the Borrowers' special insistence and request and in consideration of and in reliance upon this Agreement.

Appears in 1 contract

Samples: Loan and Security Agreement (Universal International Inc /Mn/)

Additional Indebtedness. Additional Obligations may be created from time to time at the request of any Borrower and without further authorization from or notice to any the other Borrowers Borrower even though the borrowing Borrowers' Borrower's financial condition may deteriorate since the date hereof. Each Borrower waives the right, if any, to require Lender to disclose to such Borrower any information it may now have or hereafter acquire concerning the other Borrowers' Borrower's character, credit, Collateral, financial condition or other matters. Each Borrower has established adequate means to obtain from the other Borrowers Borrower on a continuing basis financial and other information pertaining to such Borrower's business and affairs, and assumes the responsibility for being and keeping informed of the financial and other conditions of the other Borrowers Borrower and of all circumstances bearing upon the risk of nonpayment of the Obligations which diligent inquiry would reveal. Lender need not inquire into the powers of any Borrower or the authority of any of its officers, directors, partners or agents acting or purporting to act in its their behalf, and any obligations created in reliance upon the purported exercise of such power or authority is hereby guaranteed. All obligations of each Borrower to Lender heretofore, now or hereafter created shall be deemed to have been granted at each Borrower's special insistence and request and in consideration of and in reliance upon this Agreement.

Appears in 1 contract

Samples: Credit and Security Agreement (Microtel International Inc)

Additional Indebtedness. Additional Obligations may be created from time to time at the request of any Borrower and without further authorization from or notice to any other Borrowers Borrower even though the borrowing Borrowers' Borrower’s financial condition may deteriorate since the date hereof. Each Borrower waives the right, if any, to require Lender Agent or Lenders to disclose to such Borrower any information it may now have or hereafter acquire concerning the other Borrowers' character, credit, Collateral, financial condition or other matters. Each Borrower has established adequate means to obtain from the other Borrowers on a continuing basis financial and other information pertaining to such Borrower's ’s business and affairs, and assumes the responsibility for being and keeping informed of the financial and other conditions of the other Borrowers and of all circumstances bearing upon the risk of nonpayment of the Obligations 116 which diligent inquiry would reveal. Lender Agent and Lenders need not inquire into the powers of any Borrower or the authority of any of its their respective officers, directors, partners or agents acting or purporting to act in its their behalf, and any obligations created in reliance upon the purported exercise of such power or authority is hereby guaranteed. All obligations of each Borrower to Lender Agent and Lenders heretofore, now or hereafter created shall be deemed to have been granted at each Borrower's ’s special insistence and request and in consideration of and in reliance upon this Agreement.

Appears in 1 contract

Samples: Loan and Security Agreement (Bell Microproducts Inc)

Additional Indebtedness. Additional Obligations may be created from time to time at the request of any Borrower and without further authorization from or notice to any other Borrowers Borrower even though the borrowing Borrowers' Borrower's financial condition may deteriorate since the date hereof. Each Borrower waives the right, if any, to require Lender to disclose to such Borrower any information it may now have or hereafter acquire concerning the other Borrowers' character, credit, Collateral, financial condition or other matters. Each Borrower has established adequate means to obtain from the other Borrowers Borrowers, on a continuing basis basis, financial and other information pertaining to such Borrower's business and affairs, and assumes the responsibility for being and keeping informed of the financial and other conditions of the other Borrowers and of all circumstances bearing upon the risk of nonpayment of the Obligations which diligent inquiry would reveal. Lender need not inquire into the powers of any Borrower or the authority of any of its their respective officers, directors, partners or agents acting or purporting to act in its their behalf, and any obligations Obligations created in reliance upon the purported exercise of such power or authority is hereby guaranteed. All obligations Obligations of each Borrower to Lender heretofore, now or hereafter created shall be deemed to have been granted at each Borrower's special insistence and request and in consideration of and in reliance upon this Agreement.

Appears in 1 contract

Samples: Loan and Security Agreement (Rockford Corp)

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Additional Indebtedness. Additional Obligations of Borrower hereunder may be created from time to time at the request of any Borrower and without further authorization from or notice to any other Borrowers another Borrower even though the borrowing Borrowers' Borrower's financial condition may deteriorate since after the date hereof. Each Borrower waives the right, if any, to require Lender to disclose to such Borrower any information it may now have or hereafter acquire concerning the other Borrowers' another Borrower's character, credit, Collateral, financial condition or other matters. Each Borrower has established adequate means to obtain from the other Borrowers on a continuing basis financial and other information pertaining to such other Borrower's business and affairs, and assumes the responsibility for being and keeping informed of the financial and other conditions of the other Borrowers and of all circumstances bearing upon the risk of nonpayment of the Obligations hereunder which diligent inquiry would reveal. Lender need not inquire into the powers of any Borrower or the authority of any of its respective officers, directors, partners or agents acting or purporting to act in its behalf, and any obligations Obligations hereunder created in reliance upon the purported exercise of such power or authority is hereby guaranteed. All obligations of each Borrower Obligations to Lender heretofore, now now, or hereafter created shall be deemed to have been granted at each Borrower's special insistence and request and in consideration of and in reliance upon this Agreement.

Appears in 1 contract

Samples: Credit and Security Agreement (Organic Food Products Inc)

Additional Indebtedness. Additional Obligations may be created from time to time at the request of any Borrower and without further authorization from or notice to any other Borrowers Borrower even though the borrowing Borrowers' Borrower’s financial condition may deteriorate since the date hereof. Each Borrower waives the right, if any, to require Lender to disclose to such Borrower any information it may now have or hereafter acquire concerning the other Borrowers' Borrower’s character, credit, Collateral, financial condition or other matters. Each Borrower has established adequate means to obtain from the other Borrowers Borrower on a continuing basis financial and other information pertaining to such Borrower's ’s business and affairs, and assumes the responsibility for being and keeping informed of the financial and other conditions of the other Borrowers Borrower and of all circumstances bearing upon the risk of nonpayment of the Obligations which diligent inquiry would reveal. Lender need not inquire into the powers of any Borrower of the Borrowers or the authority of any of its their respective officers, directors, partners or agents acting or purporting to act in its their behalf, and any obligations created in reliance upon the purported exercise of such power or authority is hereby guaranteed. All obligations of each Borrower Borrowers to Lender heretofore, now or hereafter created shall be deemed to have been granted at each Borrower's Borrowers’ special insistence and request and in consideration of and in reliance upon this Agreement.

Appears in 1 contract

Samples: Loan and Security Agreement (Geologistics Corp)

Additional Indebtedness. Additional Obligations may be created from time to time at the request of any Borrower and without further authorization from or notice to any other Borrowers Borrower even though the borrowing Borrowers' Borrower’s financial condition may deteriorate since the date hereof. Each Borrower waives the right, if any, to require Agent or any Lender to disclose to such Borrower any information it may now have or hereafter acquire concerning the other Borrowers' character, credit, Collateral, financial condition or other matters. Each Borrower has established adequate means to obtain from the other Borrowers Borrowers, on a continuing basis basis, financial and other information pertaining to such Borrower's ’s business and affairs, and assumes the responsibility for being and keeping informed of the financial and other conditions of the other Borrowers and of all circumstances bearing upon the risk of nonpayment of the Obligations which diligent inquiry would reveal. Neither Agent nor any Lender need not inquire into the powers of any Borrower or the authority of any of its their respective officers, directors, partners or agents acting or purporting to act in its their behalf, and any obligations Obligations created in reliance upon the purported exercise of such power or authority is are hereby guaranteed. All obligations Obligations of each Borrower to Lender Agent and Lenders heretofore, now or hereafter created shall be deemed to have been granted at each Borrower's ’s special insistence and request and in consideration of and in reliance upon this Agreement.

Appears in 1 contract

Samples: Loan and Security Agreement (Pcm, Inc.)

Additional Indebtedness. Additional Obligations may be created from time to time at the request of any Borrower and without further authorization from or notice to any other Borrowers Borrower even though the borrowing Borrowers' Borrower's financial condition may deteriorate since the date hereof. Each Borrower waives the right, if any, to require Agent or any Lender to disclose to such Borrower any information it may now have or hereafter acquire concerning the other Borrowers' character, credit, Collateral, financial condition or other matters. Each Borrower has established adequate means to obtain from the other Borrowers Borrowers, on a continuing basis basis, financial and other information pertaining to such Borrower's business and affairs, and assumes the responsibility for being and keeping informed of the financial and other conditions of the other Borrowers and of all circumstances bearing upon the risk of nonpayment of the Obligations which diligent inquiry would reveal. Neither Agent nor any Lender need not inquire into the powers of any Borrower or the authority of any of its their respective officers, directors, partners or agents acting or purporting to act in its their behalf, and any obligations Obligations created in reliance upon the purported exercise of such power or authority is are hereby guaranteed. All obligations Obligations of each Borrower to Lender Agent and Lenders heretofore, now or hereafter created shall be deemed to have been granted at each Borrower's special insistence and request and in consideration of and in reliance upon this Agreement.

Appears in 1 contract

Samples: Loan and Security Agreement (Pc Mall Inc)

Additional Indebtedness. Additional Obligations may be created from time to time at the request of any Borrower and without further authorization from or notice to any other Borrowers Borrower even though the borrowing Borrowers' Borrower's financial condition may deteriorate since the date hereof. Each Borrower waives the right, if any, to require Lender to disclose to such Borrower any information it may now have or hereafter acquire concerning the other Borrowers' character, credit, Collateral, financial condition or other matters. Each Borrower has established adequate means to obtain from the other Borrowers Borrowers, on a continuing basis basis, financial and other information pertaining to such Borrower's business and affairs, and assumes the responsibility for being and keeping informed of the financial and other conditions of the other Borrowers and of all circumstances bearing upon the risk of nonpayment of the Obligations which diligent inquiry would reveal. Lender shall not need not to inquire into the powers of any Borrower or the authority of any of its their respective officers, directors, partners or agents acting or purporting to act in its their behalf, and any obligations Obligations created in reliance upon the purported exercise of such power or authority is hereby guaranteed. All obligations Obligations of each Borrower to Lender heretofore, now or hereafter created shall be deemed to have been granted at each Borrower's special insistence and request and in consideration of and in reliance upon this Agreement.

Appears in 1 contract

Samples: Loan and Security Agreement (Jazz Semiconductor Inc)

Additional Indebtedness. Additional Obligations may be created from time to time at the request of any Borrower and without further authorization from or notice to any other Borrowers Borrower even though the borrowing Borrowers' Borrower’s financial condition may deteriorate since the date hereof. Each Borrower waives the right, if any, to require the Lender to disclose to such Borrower any information it may now have or hereafter acquire concerning the other Borrowers' character, credit, Collateral, financial condition or other matters. Each Borrower has established adequate means to obtain from the other Borrowers Borrowers, on a continuing basis basis, financial and other information pertaining to such Borrower's ’s business and affairs, and assumes the responsibility for being and keeping informed of the financial and other conditions of the other Borrowers and of all circumstances bearing upon the risk of nonpayment of the Obligations which diligent inquiry would reveal. The Lender need not inquire into the powers of any Borrower or the authority of any of its their respective officers, directors, partners or agents acting or purporting to act in its their behalf, and any obligations Obligations created in reliance upon the purported exercise of such power or authority is hereby guaranteed. All obligations Obligations of each Borrower to the Lender heretofore, now or hereafter created shall be deemed to have been granted at each Borrower's ’s special insistence and request and in consideration of and in reliance upon this Agreement.

Appears in 1 contract

Samples: Credit and Security Agreement (Smtek International Inc)

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