Common use of Absolute Obligations Clause in Contracts

Absolute Obligations. Each Borrower acknowledges and agrees that its joint and several liability on the Notes and on all obligations owed by any Borrower or Borrowers under this Agreement is absolute and unconditional and shall not in any manner be affected or impaired by any acts or omissions whatsoever by the Banks, and without limiting the generality of the foregoing, each Borrower's joint and several liability on the Notes and under this Agreement shall not be impaired by any acceptance by the Banks of any other security for or guarantors upon the Notes or any obligations under this Agreement or by any failure, neglect or omission on the Banks' part to resort to any one or all of the Borrowers for payment of the Notes or the obligations under this Agreement or to realize upon or protect any collateral security therefor. Each Borrower's joint and several liability on the Notes and under this Agreement shall not in any manner be impaired or affected by who receives or uses the proceeds of the loans evidenced by the Notes or for what purposes such proceeds are used, and each Borrower waives notice of borrowing requests issued by, and loans made to, other Borrowers. Such joint and several liability of each Borrower shall also not be impaired or affected by (and each Bank, without notice to anyone, is hereby authorized to make from time to time) any sale, pledge, surrender, compromise, settlement, release, renewal, extension, indulgence, alteration, substitution, exchange, change in, modification or disposition of any collateral security for the Notes or the obligations under this Agreement or of any guaranty thereof. In order to enforce payment of the Notes and the Borrowers' obligations under this Agreement, foreclose or otherwise realize on any collateral security therefor, and to exercise the rights granted to the Agent hereunder and thereunder and under applicable law, the Agent shall be under no obligation at any time to first resort to any collateral security, property, liens or any other rights or remedies whatsoever, and the Banks shall have the right to enforce the Notes and the Borrowers' obligations under this Agreement irrespective of whether or not other proceedings or steps are pending seeking resort to or realization upon or from any of the foregoing. By its acceptance below, each Borrower hereby expressly waives and surrenders any defense to its joint and several liability on the Notes or under this Agreement based upon any of the foregoing. In furtherance thereof, each Borrower agrees that wherever in this Agreement it is provided that a Borrower is liable for a payment such obligation is the joint and several obligation of each Borrower.

Absolute Obligations. Each Borrower acknowledges and agrees that its joint and several liability on the Notes and on all obligations owed by any Borrower or Borrowers under this Agreement is absolute and unconditional and shall not in any manner be affected or impaired by any acts or omissions whatsoever by the Banks, and without limiting the generality of the foregoing, each Borrower's joint and several liability on the Notes and under this Agreement shall not be impaired by any acceptance by the Banks of any other security for or guarantors upon the Notes or any obligations under this Agreement or by any failure, neglect or omission on the Banks' part to resort to any one or all of the Borrowers for payment of the Notes or the obligations under this Agreement or to realize upon or protect any collateral security therefor. Each Borrower's joint and several liability on the Notes and under this Agreement shall not in any manner be impaired or affected by who receives or uses the proceeds of the loans evidenced by the Notes or for what purposes such proceeds are used, and each Borrower waives notice of borrowing requests issued by, and loans made to, other Borrowers. Such joint and several liability of each Borrower shall also not be impaired or affected by (and each Bank, without notice to anyone, is hereby authorized to make from time to time) any sale, pledge, surrender, compromise, settlement, release, renewal, extension, indulgence, alteration, substitution, exchange, change in, modification or disposition of any collateral security for the Notes or the obligations under this Agreement or of any guaranty thereof. In order to enforce payment of the Notes and the Borrowers' obligations under this Agreement, foreclose or otherwise realize on any collateral security therefor, and to exercise the rights granted to the any Agent hereunder and thereunder and under applicable law, the Agent Agents shall be under no obligation at any time to first resort to any collateral security, property, liens or any other rights or remedies whatsoever, and the Banks shall have the right to enforce the Notes and the Borrowers' obligations under this Agreement irrespective of whether or not other proceedings or steps are pending seeking resort to or realization upon or from any of the foregoing. By its acceptance below, each Borrower hereby expressly waives and surrenders any defense to its joint and several liability on the Notes or under this Agreement based upon any of the foregoing. In furtherance thereof, each Borrower agrees that wherever in this Agreement it is provided that a Borrower is liable for a payment such obligation is the joint and several obligation of each Borrower.

Absolute Obligations. Each Borrower acknowledges and agrees that its joint and several liability on the Notes under this Agreement and on all obligations owed by any Borrower or Borrowers Obligations under this Agreement the Credit Documents is absolute and unconditional and shall not in any manner be affected or impaired by any of acts or omissions whatsoever by the Banksany Secured Party, and without limiting the generality of the foregoing, each Borrower's ’s joint and several liability on the Notes and under this Agreement and the Credit Documents shall not be impaired by any acceptance by the Banks any Secured Party of any other security for or guarantors upon the Notes this Agreement or any obligations Obligations under this Agreement the Credit Documents or by any failure, neglect or omission on the Banks' any Secured Party’s part to resort to any one or all of the Borrowers for payment of the Notes or the obligations Obligations under this Agreement and the other Credit Documents or to realize upon or protect any collateral security therefor. Each Borrower's ’s joint and several liability on the Notes and under this Agreement and the Credit Documents shall not in any manner be impaired or affected by who receives or uses the proceeds of the loans evidenced by the Notes and other Credit Documents or for what purposes such proceeds are used, and each Borrower waives notice of borrowing Borrowing requests issued by, and loans made to, other Borrowers. Such joint and several liability of each Borrower shall also not be impaired or affected by (and each Bankthe Agent, without notice to anyone, is hereby authorized to make from time to time) any sale, pledge, surrender, compromise, settlement, release, renewal, extension, indulgence, alteration, substitution, exchange, change in, modification or disposition of any collateral security for the Notes or the obligations under this Agreement and all Obligations under the Credit Documents or of any guaranty thereof. In order to enforce payment of the Notes and the Borrowers' ’ obligations under this Agreement, foreclose or otherwise realize on any collateral security therefor, and to exercise the rights granted to the Agent hereunder and thereunder and under applicable law, the Agent shall be under no obligation at any time to first resort to any collateral security, property, liens or any other rights or remedies whatsoever, and the Banks Lenders shall have the right to enforce the Notes and the Borrowers' obligations under this Agreement and all Obligations under the Credit Documents irrespective of whether or not other proceedings or steps are pending seeking resort to or realization upon or from any of the foregoing. By its acceptance below, each Each Borrower hereby expressly waives and surrenders any defense to its joint and several liability on the Notes or under this Agreement based upon any of the foregoing. In furtherance thereof, each Borrower agrees that wherever in this Agreement it is provided that a Borrower is liable for a payment such obligation is the joint and several obligation of each Borrower.

Absolute Obligations. Each Domestic Borrower acknowledges and agrees that its joint and several liability on the Notes Notes, Reimbursement Obligations and on all obligations owed by any Borrower or Borrowers under this Agreement is absolute and unconditional and shall not in any manner be affected or impaired by any of acts or omissions whatsoever by the Banks, and without limiting the generality of the foregoing, each Domestic Borrower's joint and several liability on the Notes Notes, Reimbursement Obligations and under this Agreement shall not be impaired by any acceptance by the Banks of any other security for or guarantors upon the Notes Notes, Reimbursement Obligations or any obligations under this Agreement or by any failure, neglect or omission on the Banks' part to resort to any one or all of the Borrowers for payment of the Notes Notes, Reimbursement Obligations or the obligations under this Agreement or to realize upon or protect any collateral security therefor. Each Domestic Borrower's joint and several liability on the Notes Notes, Reimbursement Obligations and under this Agreement shall not in any manner be impaired or affected by who receives or uses the proceeds of the loans evidenced by the Notes Notes, Reimbursement Obligations or for what purposes such proceeds are used, and each Domestic Borrower waives notice of borrowing requests issued by, and loans made to, other Borrowers. Such joint and several liability of each Domestic Borrower shall also not be impaired or affected by (and each Bank, without notice to anyone, is hereby authorized to make from time to time) any sale, pledge, surrender, compromise, settlement, release, renewal, extension, indulgence, alteration, substitution, exchange, change in, modification or disposition of any collateral 15 security for the Notes Notes, Reimbursement Obligations or the obligations under this Agreement or of any guaranty thereof. In order to enforce payment of the Notes Notes, Reimbursement Obligations and the Borrowers' obligations under this Agreement, foreclose or otherwise realize on any collateral security therefor, and to exercise the rights granted to the Administrative Agent hereunder and thereunder and under applicable law, the Administrative Agent shall be under no obligation at any time to first resort to any collateral security, property, liens or any other rights or remedies whatsoever, and the Banks shall have the right to enforce the Notes Notes, Reimbursement Obligations and the Borrowers' obligations under this Agreement irrespective of whether or not other proceedings or steps are pending seeking resort to or realization upon or from any of the foregoing. By its acceptance below, each Domestic Borrower hereby expressly waives and surrenders any defense to its joint and several liability on the Notes Notes, Reimbursement Obligations or under this Agreement based upon any of the foregoing. In furtherance thereof, each Domestic Borrower agrees that wherever in this Agreement it is provided that a Borrower is liable for a payment such obligation is the joint and several obligation of each Domestic Borrower.