Assumption of Rights, Not Assumption of Duties Sample Clauses
The "Assumption of Rights, Not Assumption of Duties" clause clarifies that when a party acquires certain rights under an agreement, it does not automatically take on the corresponding obligations or duties associated with those rights. For example, if a company assigns its right to receive payments to a third party, the third party does not become responsible for performing the original company's contractual obligations unless explicitly stated. This clause is essential for preventing unintended transfer of liabilities, ensuring that only the specified rights are transferred while the original party retains its duties unless otherwise agreed.
Assumption of Rights, Not Assumption of Duties. Notwithstanding anything to the contrary contained herein:
(1) each of the parties thereto will remain liable under each of the Security Documents (other than this Agreement) to the extent set forth therein to perform all of their respective duties and obligations thereunder to the same extent as if this Agreement had not been executed;
(2) the exercise by the Collateral Trustee of any of its rights, remedies or powers hereunder will not release such parties from any of their respective duties or obligations under the other Security Documents; and
(3) the Collateral Trustee will not be obligated to perform any of the obligations or duties of any of the parties thereunder other than the Collateral Trustee.
Assumption of Rights, Not Assumption of Duties. Notwithstanding anything to the contrary contained herein:
(a) each of the parties thereto will remain liable under each of the Credit Agreement Security Documents (other than this Agreement) to the extent set forth therein to perform all of their respective duties and 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, remedies or powers hereunder will not release such parties from any of their respective duties or obligations under the other Credit Agreement Security Documents; and
(c) the Collateral Agent will not be obligated to perform any of the obligations or duties of any of the parties thereunder other than those of the Collateral Agent.
Assumption of Rights, Not Assumption of Duties. Notwithstanding anything to the contrary contained herein:
Assumption of Rights, Not Assumption of Duties. Notwithstanding anything to the contrary contained herein:
(i) each of the parties thereto will remain liable under each of the Collateral Documents (other than this Agreement) to the extent set forth therein to perform all of their respective duties and obligations thereunder to the same extent as if this Agreement had not be executed;
(ii) the exercise by the Security Trustee of any of its rights, remedies or powers hereunder will not release such parties from any of their respective duties or obligations under the other Collateral Documents; and
(iii) the Security Trustee will not be obligated to perform any of the obligations or duties of any of the parties thereunder other than those of the Security Trustee.
(iv) the permissive rights of the Security Trustee to do things enumerated in this Agreement and any other Collateral Documents to which it is a party shall not be construed as duties.
Assumption of Rights, Not Assumption of Duties. Notwithstanding anything to the contrary contained herein:
(a) the exercise by the Collateral Agent of any of its rights, remedies or powers hereunder will not release any other parties from any of their respective duties or obligations under the Junior Lien Intercreditor Agreement (if any) or the other Security Documents; and
(b) the Collateral Agent will not be obligated to perform any of the obligations or duties of the Company or any other Grantor.
Assumption of Rights, Not Assumption of Duties. Notwithstanding anything to the contrary contained herein:
(1) each of the parties thereto will remain liable under each of the Security Documents (other than this Agreement) to the extent set forth therein to perform all of their respective duties and obligations thereunder to the same extent as if this Agreement had not been executed;
(2) the exercise by the Collateral Trustee of any of its rights, remedies or powers hereunder will not release such parties from any of their respective duties or obligations under the other Security Documents; and
Assumption of Rights, Not Assumption of Duties. Notwithstanding anything to the contrary contained herein:
(i) each of the parties to the Collateral Documents (other than this Agreement) will remain liable thereunder to the extent set forth therein to perform all of their respective duties and obligations thereunder to the same extent as if this Agreement had not been executed;
(ii) the exercise by the Collateral Trustee of any of its rights, remedies or powers hereunder will not release such parties from any of their respective duties or obligations under the other Collateral Documents; and
(iii) the Collateral Trustee will not be obligated to perform any of the obligations or duties of any of the parties to the Collateral Documents other than the Collateral Trustee.
Assumption of Rights, Not Assumption of Duties. No Liability for Clean Up of Hazardous Materials
Assumption of Rights, Not Assumption of Duties. Notwithstanding anything to the contrary contained herein:
(1) each of the parties thereto will remain liable under each of the Security Documents (other than this Agreement) to the extent set forth therein to perform all of their respective duties and obligations thereunder to the same extent as if this Agreement had not be executed;
(2) the exercise by the Canadian Collateral Trustee of any of its rights, remedies or powers hereunder will not release such parties from any of their respective duties or obligations under the other Security Documents; and
(3) the Canadian Collateral Trustee will not be obligated to perform any of the obligations or duties of any of the parties thereunder other than the Canadian Collateral Trustee.
Assumption of Rights, Not Assumption of Duties. Notwithstanding anything to the contrary contained herein:
(a) each of the Pledgors thereto will remain liable under each of the Security Documents (other than this Agreement) to the extent set forth therein to perform all of their respective duties and obligations thereunder to the same extent as if this Agreement had not been executed;
(b) the exercise by the Applicable Controlling Agent of any of its rights, remedies or powers hereunder will not release such parties from any of their respective duties or obligations under the other Security Documents;
(c) the Credit Agreement Collateral Agent will not be obligated to perform any of the obligations or duties of any of the parties to the Parity Lien Security Documents other than the obligations and duties of the Credit Agreement Collateral Agent set forth therein; and
(d) the Collateral Trustee will not be obligated to perform any of the obligations or duties of any of the parties to the Collateral Trust Security Documents other than the obligations and duties of the Collateral Trustee set forth therein.