Liability of Borrower to be Joint and Several Sample Clauses

Liability of Borrower to be Joint and Several. The liability of the Borrower to repay the Loan together with interest etc. and to observe the terms and conditions of this Agreement and/or other agreement/s, documents/s that may have been or may be executed by the Borrower with IHFL in respect of this or any other loan or loans, is joint and several.
Sample 1Sample 2See All (5)
AutoNDA by SimpleDocs
Liability of Borrower to be Joint and Several. Where the Loan is provided to more than one Borrower and the loan amount is disbursed to any one of the Borrowers, then it would amount to disbursement to all the Borrowers and Co- Borrowers. Notwithstanding anything herein stated, the liability of the Borrower to repay the Loan together with interest, etc. and to observe the terms and conditions of this Agreement/and any other Agreement's, document's that may have been or may be executed by the Borrower with the Bank in respect of this Loan or any other Loan or Loans is joint and several.
Sample 1Sample 2See All (4)
Liability of Borrower to be Joint and Several. The liability of the Borrower to repay the loan together with interest, group - life insurance premium, general insurance premium etc. and to observe the terms and condition of this Agreement/and any other Agreement, documents that may have been or may be executed by the borrower with Federation in respect of this loan or any other loan or loans is joint and several.
Sample 1
Liability of Borrower to be Joint and Several. The liability of the Borrower to repay the loan together with interest etc., and to observe the terms and conditions of this Agreement and any other Agreement/s documents that may have been or may be executed by the Borrower with Bank in respect of this loan or any other loan granted by Bank to the Borrower shall be joint and several. To give effect to the above, the Borrower authorizes Bank to disburse the loan amount to any one of the Borrowers on behalf of other Borrower(s) and further agree that the payment so made shall entitle Bank to demand repayment of the entire loan from any one or more of the Borrower, at any time, that Bank may deem fit. The Borrower further agrees that even though this agreement and other security documents mention a specific rate of interest, the borrower is liable to pay interest at the said rate and at such other rates as may be notified to them by Bank from time to time. The notice so received by the Borrower, at any of them shall be sufficient and binding on all the Borrower individually and each one of the borrowers hereby authorises the other(s) to receive such notice for himself/herself and for others. The Borrower agrees upon that the failure of the Borrowers to put the account in order as and when demanded by BANK, BANK shall be at liberty to give time for payment to any one or more of the Borrower on verbal or written application without prejudice to the liability of the Borrower or any one or more of them or to anyone or more of the remedies available to BANK in respect of the account. The Borrower agrees that his/her/their responsibility for repayment of all amounts due to BANK under the loan account is joint and several. Further, the Borrower agrees that in the matter of making payment towards this debt or acknowledging this debt or any part thereof as and when called upon by BANK to do so for the specific purpose of saving limitation, the Borrower authorises each of their act as an agent on behalf as any one or more of them for the purpose of making payment to the loan account and/or giving acknowledgement of debt from time to time. The Borrower further agrees that the payment or acknowledgement made or given by any one or more of them shall be binding on all the Borrower jointly and/or severally and that the said payment and acknowledgment so made or given by one or more of the Borrower shall have limitation against the Borrower jointly and/or severally. The Borrower confirms that the rules governing the loan h...
Sample 1
Liability of Borrower to be Joint and Several. The liability of the Borrower to repay the Loan Amount, together with Interest, Outstanding Amount, and/or any other monies/charges payable by the Borrower to Bank, and to observe the terms and conditions of this Agreement, is, and shall remain, joint and several.
Sample 1

Related to Liability of Borrower to be Joint and Several

  • Joint and Several Liabilities 10 Sector members acknowledge and agree that they and the sector may be held jointly and 11 severally liable if they or their hired captain or crew

  • Joint and Several Liability Each Borrower agrees that it is jointly and severally liable for, and absolutely and unconditionally guarantees to Agent and Lenders the prompt payment and performance of, all Obligations and all agreements under the Loan Documents. Each Borrower agrees that its guaranty obligations hereunder constitute a continuing guaranty of payment and not of collection, that such obligations shall not be discharged until Full Payment of the Obligations, and that such obligations are absolute and unconditional, irrespective of (a) the genuineness, validity, regularity, enforceability, subordination or any future modification of, or change in, any Obligations or Loan Document, or any other document, instrument or agreement to which any Obligor is or may become a party or be bound; (b) the absence of any action to enforce this Agreement (including this Section) or any other Loan Document, or any waiver, consent or indulgence of any kind by Agent or any Lender with respect thereto; (c) the existence, value or condition of, or failure to perfect a Lien or to preserve rights against, any security or guaranty for the Obligations or any action, or the absence of any action, by Agent or any Lender in respect thereof (including the release of any security or guaranty); (d) the insolvency of any Obligor; (e) any election by Agent or any Lender in an Insolvency Proceeding for the application of Section 1111(b)(2) of the Bankruptcy Code; (f) any borrowing or grant of a Lien by any other Borrower, as debtor-in-possession under Section 364 of the Bankruptcy Code or otherwise; (g) the disallowance of any claims of Agent or any Lender against any Obligor for the repayment of any Obligations under Section 502 of the Bankruptcy Code or otherwise; or (h) any other action or circumstances that might otherwise constitute a legal or equitable discharge or defense of a surety or guarantor, except Full Payment of all Obligations.

  • Joint and Several If there is more than one Tenant, the obligations imposed upon Tenant under this Lease shall be joint and several.

  • Joint and Several Obligations THE OBLIGATIONS OF THE GUARANTORS HEREUNDER SHALL BE JOINT AND SEVERAL, AND ACCORDINGLY, EACH GUARANTOR CONFIRMS THAT IT IS LIABLE FOR THE FULL AMOUNT OF THE “GUARANTIED OBLIGATIONS” AND ALL OF THE OBLIGATIONS AND LIABILITIES OF EACH OF THE OTHER GUARANTORS HEREUNDER.

  • Joint and Several Liability; Signatories; Successors and Assigns Bound Borrower’s obligations and liability under this Security Instrument will be joint and several. However, any Borrower who signs this Security Instrument but does not sign the Note: (a) signs this Security Instrument to mortgage, grant, and convey such Borrower’s interest in the Property under the terms of this Security Instrument; (b) signs this Security Instrument to waive any applicable inchoate rights such as dower and curtesy and any available homestead exemptions; (c) signs this Security Instrument to assign any Miscellaneous Proceeds, Rents, or other earnings from the Property to Lender; (d) is not personally obligated to pay the sums due under the Note or this Security Instrument; and (e) agrees that Lender and any other Borrower can agree to extend, modify, forbear, or make any accommodations with regard to the terms of the Note or this Security Instrument without such Borrower’s consent and without affecting such Borrower’s obligations under this Security Instrument. Subject to the provisions of Section 19, any Successor in Interest of Borrower who assumes Xxxxxxxx’s obligations under this Security Instrument in writing, and is approved by Xxxxxx, will obtain all of Borrower’s rights, obligations, and benefits under this Security Instrument. Borrower will not be released from Borrower’s obligations and liability under this Security Instrument unless Xxxxxx agrees to such release in writing.

  • Obligations of Parties Nothing herein shall relieve a Party of its obligations under the Federal Rules, the Bankruptcy Rules, the Federal Rules of Evidence, and the Local Rules, or under any future stipulations and orders, regarding the production of documents or the making of timely responses to Discovery Requests in connection with the Cases.

  • Limitations of contractual liability No Party shall be responsible to any other Party for any indirect or consequential loss or similar damage such as, but not limited to, loss of profit, loss of revenue or loss of contracts, provided such damage was not caused by a willful act or by a breach of confidentiality. For any remaining contractual liability, a Party’s aggregate liability towards the other Parties collectively shall be limited to the Party’s share of the total costs of the Project as identified in Project Contract, provided such damage was not caused by a willful act or gross negligence. The terms of the Partnership Agreement shall not be construed to amend or limit any Party’s statutory liability.

  • Obligations of Company In addition to the obligations of the Company set forth in Section 2.1, and in no way in limitation of such obligations, whenever the Company or Pubco is required by the provisions of this Agreement to effect the registration of the Registrable Securities, the Company shall, or shall cause Pubco to: (i) prepare and file with the SEC such amendments and supplements to such registration statement and the prospectus used in connection therewith as may be necessary to make and to keep such registration statement effective during the Effectiveness Period, (ii) comply with the provisions of the Securities Act with respect to the sale or other disposition of all securities proposed to be registered in such registration statement for the Effectiveness Period; (iii) furnish to any Holder such number of copies of any prospectus (including any preliminary prospectus and any amended or supplemented prospectus), in conformity with the requirements of the Securities Act, as such Holder may reasonably request in order to effect the offering and sale of the Registrable Securities to be offered and sold; (iv) use its best efforts to register or qualify the Registrable Securities covered by such registration statement under the securities or blue sky laws of such states as the Holders shall reasonably request, maintain any such registration or qualification current for the Effectiveness Period, and take any and all other actions either necessary or reasonably advisable to enable Holders to consummate the public sale or other disposition of the Registrable Securities in jurisdictions where such Holders desire to effect such sales or other disposition; (v) take all such other actions either necessary or reasonably desirable to permit the Registrable Securities held by a Holder to be registered and disposed of in accordance with the method of disposition described herein; (vi) in the event of any underwritten public offering, enter into and perform its obligations under an underwriting agreement, in usual and customary form, with the managing underwriter of such offering; (vii) notify each Holder of Registrable Securities covered by such registration statement at any time when a prospectus relating thereto is required to be delivered under the Securities Act of the happening of any event as a result of which the prospectus included in such registration statement, as then in effect, includes an untrue statement of a material fact or omits to state a material fact required to be stated therein or necessary to make the statements therein not misleading in the light of the circumstances then existing, such obligation to continue for the Effectiveness Period; (viii) cause all such Registrable Securities registered pursuant hereunder to be listed on each securities exchange on which similar securities issued by the Company or Pubco are then listed; (ix) provide a transfer agent and registrar for all Registrable Securities registered pursuant hereunder and a CUSIP number for all such Registrable Securities, in each case not later than the effective date of such registration; and (x) use its best efforts to furnish, at the request of any Holder requesting registration of Registrable Securities pursuant to Section 3, if such securities are being sold through underwriters, or if such securities are not being sold through underwriters, on the date that the registration statement with respect to such securities becomes effective, (A) an opinion, dated such date as such registration statement becomes effective, of the counsel representing the Company for the purposes of such registration, in form and substance as is customarily given to underwriters in an underwritten public offering, addressed to the underwriters and to the Holders requesting registration of Registrable Securities and (B) a letter dated such date as such registration statement becomes effective, from the independent certified public accountants of the Company, in form and substance as is customarily given by independent certified public accountants to underwriters in an underwritten public offering and reasonably satisfactory to the Holders of a majority of the Registrable Securities being registered, addressed to the underwriters, if any, and to the Holders requesting registration of Registrable Securities. Notwithstanding the foregoing, the Company shall not be required to register or to qualify an offering of the Registrable Securities under the laws of a state if as a condition to so doing the Company is required to qualify to do business or to file a general consent to service of process in any such state or jurisdiction, unless the Company is already subject to service in such jurisdiction.

  • Several Liability In any action involving the Acquiring Funds under this Agreement, each Acquired Fund agrees to look solely to the individual Acquiring Fund that is involved in the matter in controversy and not to any other series of the Investing Company. In any action involving the Acquired Funds under this Agreement, each Acquiring Fund agrees to look solely to the individual Acquired Fund that is involved in the matter in controversy and not to any other series of the Trust.

  • Obligations Absolute The obligation of the Borrower to reimburse the L/C Issuer for each drawing under each Letter of Credit and to repay each L/C Borrowing shall be absolute, unconditional and irrevocable, and shall be paid strictly in accordance with the terms of this Agreement under all circumstances, including the following:

Time is Money Join Law Insider Premium to draft better contracts faster.