Common use of Debtors Remain Liable Clause in Contracts

Debtors Remain Liable. Notwithstanding anything to the --------------------- contrary contained herein, (a) each Debtor shall remain liable under the contracts and agreements included in the Collateral to the extent set forth therein to perform all of its duties and obligations thereunder to the same extent as if this Agreement had not been executed, (b) the exercise by the Agent of any of its rights hereunder shall not release any Debtor from any of its duties or obligations under the contracts and agreements included in the Collateral, and (c) neither the Agent, any Co-Agent nor any Bank shall have any obligation or liability under any of the contracts and agreements included in the Collateral by reason of this Agreement, nor shall the Agent, any Co-Agent or any Bank be obligated to perform any of the obligations or duties of any Debtor thereunder or to take any action to collect or enforce any claim for payment assigned hereunder.

Appears in 2 contracts

Samples: Credit Agreement (Cellstar Corp), Guarantor Security Agreement (Cellstar Corp)

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Debtors Remain Liable. Notwithstanding anything Anything herein to the --------------------- contrary contained herein, notwithstanding: (a) each Debtor shall remain liable under the contracts and agreements Contracts included in the Collateral to the extent set forth therein to perform all of its duties and such Debtor’s obligations thereunder to the same extent as if this Agreement had not been executed, ; (b) the exercise by the Agent of any of its rights hereunder shall not release any Debtor from any of its duties or obligations under the contracts and agreements Contracts included in the Collateral, ; and (c) neither the Agent, any Co-Agent nor any Bank shall not have any obligation or liability under any of the contracts and agreements Contracts included in the Collateral by reason of this Agreement, nor shall the Agent, any Co-Agent or any Bank be obligated to perform or fulfill any of the obligations or duties of any Debtor thereunder thereunder, including any obligation to make any inquiry as to the nature or sufficiency of any payment any Debtor may be entitled to receive thereunder, to present or file any claim, or to take any action to collect or enforce any claim for payment assigned hereunderthereunder.

Appears in 2 contracts

Samples: Credit Agreement (Stone Energy Corp), Security Agreement (Stone Energy Corp)

Debtors Remain Liable. Notwithstanding anything Anything herein to the --------------------- contrary contained herein, notwithstanding: (a) each Debtor shall remain liable under the contracts and agreements Contracts included in the Collateral to the extent set forth therein to perform all of its duties and such Debtor’s obligations thereunder to the same extent as if this Agreement had not been executed, ; (b) the exercise by the Agent of any of its rights hereunder shall not release any Debtor from any of its duties or obligations under the contracts and agreements Contracts included in the Collateral, ; and (c) neither the Agent, any Co-Agent nor any Bank shall not have any obligation or liability under any of the contracts and agreements Contracts included in the Collateral by reason of this Agreement, nor shall the Agent, any Co-Agent or any Bank be obligated to perform or fulfill any of the obligations or duties of any Debtor thereunder thereunder, including any obligation to make any inquiry as to the nature or sufficiency of any payment any Debtor may be entitled to receive thereunder, to present or file any claim, or to take any action to collect or enforce any claim for payment assigned hereunder.thereunder. [EXHIBIT H TO CREDIT AGREEMENT]

Appears in 1 contract

Samples: Credit Agreement (Stone Energy Corp)

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Debtors Remain Liable. Notwithstanding anything Anything herein to the --------------------- contrary contained herein, notwithstanding: (a) each Debtor shall remain liable under the contracts and agreements included in the Collateral to the extent set forth therein to perform all of its duties and such Debtor’s obligations thereunder to the same extent as if this Agreement had not been executed, ; (b) the exercise by the Collateral Agent of any of its rights hereunder shall not release any Debtor from any of its duties or obligations under the contracts and agreements included in the Collateral, ; and (c) neither the Agent, any Co-Collateral Agent nor any Bank shall not have any obligation or liability under any of the contracts and agreements included in the Collateral by reason of this Agreement, nor shall the Agent, any Co-Collateral Agent or any Bank be obligated to perform or fulfill any of the obligations or duties of any Debtor thereunder thereunder, including any obligation to make any inquiry as to the nature or sufficiency of any payment any Debtor may be entitled to receive thereunder, to present or file any claim, or to take any action to collect or enforce any claim for payment assigned hereunderthereunder.

Appears in 1 contract

Samples: Security Agreement (Basic Energy Services Inc)

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