Common use of Borrower Liability Clause in Contracts

Borrower Liability. Each Borrower except the Parent hereby appoints the Parent as agent for such Borrower for all purposes hereunder, including with respect to requesting Loans hereunder. Each Borrower hereunder shall be jointly and severally obligated to repay all Loans made hereunder, regardless of which Borrower actually receives the proceeds of said Loan, as if each Borrower hereunder directly received all Loans. Notwithstanding any other provision of this Agreement or other related document, each Borrower irrevocably waives all rights that it may have at law or in equity (including, without limitation, any law subrogating Borrower to the rights of Silicon under this Agreement) to seek contribution, indemnification or any other form of reimbursement from any other Borrower, or any other Person now or hereafter primarily or secondarily liable for any of the Obligations, for any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise and all rights that it might have to benefit from, or to participate in, any security for the Obligations as a result of any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise. Any agreement providing for indemnification, reimbursement or any other arrangement prohibited under this Section shall be null and void. If any payment is made to a Borrower in contravention of this Section, such Borrower shall hold such payment in trust for Silicon and such payment shall be promptly delivered to Silicon for application to the Obligations, whether matured or unmatured.

Borrower Liability. Each The Borrower except the Parent hereby appoints the Parent as agent for such waives (a) any suretyship defenses available to it under any applicable law, and (b) any right to require Lender to: (i) proceed against any other person; or (ii) pursue any other remedy. Lender may exercise or not exercise any right or remedy it has against ADMA or Borrower for all purposes hereunder, including with respect to requesting Loans hereunder. Each Borrower hereunder shall be jointly and severally obligated to repay all Loans made hereunder, regardless of which Borrower actually receives the proceeds of said Loan, as if each Borrower hereunder directly received all Loanswithout affecting Borrower’s liability. Notwithstanding any other provision of this Agreement or other related document, each Borrower irrevocably indefinitely waives enforcement of all rights that it may have at law or in equity (including, without limitation, any law subrogating Borrower to the rights of Silicon Lender under this Agreement) to seek contribution, indemnification or any other form of reimbursement from any other Borrower, or any other Person now or hereafter primarily or secondarily liable for any of the Obligations, for any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise and all rights that it might have to benefit from, or to participate in, any security for the Obligations as a result of any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise. Any agreement providing for indemnification, reimbursement or any other arrangement prohibited under this Section shall be null and void. If any payment is made to a Borrower in contravention of this Section, such Borrower shall hold such payment in trust for Silicon Lender and such payment shall be promptly delivered to Silicon Lender for application to the Obligations, whether matured or unmatured.

Borrower Liability. Each Borrower except waives (a) any right to require Bank to: (i) proceed against any Borrower or any other Person; or (ii) pursue any specific remedy. Bank may exercise or not exercise any right or remedy it has against Borrower (including the Parent hereby appoints right to foreclose by judicial or non-judicial sale in the Parent as agent for such Borrower for all purposes hereunder, including with respect to requesting Loans hereunder. Each Borrower hereunder shall be jointly and severally obligated to repay all Loans made hereunder, regardless of which Borrower actually receives the proceeds of said Loan, as if each Borrower hereunder directly received all Loansevent Bank holds collateral) without affecting any Borrower’s liability. Notwithstanding any other provision of this Agreement or other related document, each Borrower irrevocably waives all rights that it may have at law or in equity (including, without limitation, any law subrogating Borrower to the rights of Silicon Bank under this Agreement) to seek contribution, indemnification or any other form of reimbursement from any other Borrower, or any other Person now or hereafter primarily or secondarily liable for any of the Obligations, for any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise and all rights that it might have to benefit from, or to participate in, any security for the Obligations as a result of any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise. Any agreement providing for indemnification, reimbursement or any other arrangement prohibited under this Section shall be null and void. If any payment is made to a Borrower in contravention of this Section, such Borrower shall hold such payment in trust for Silicon Bank and such payment shall be promptly delivered to Silicon Bank for application to the Obligations, whether matured or unmatured.

Borrower Liability. Any Borrower may, acting singly, request Advances hereunder. Each Borrower except the Parent hereby appoints the Parent other as agent for such Borrower the other for all purposes hereunder, including with respect to requesting Loans Advances hereunder. Each Borrower hereunder shall be jointly and severally obligated to repay all Loans Advances made hereunder, regardless of which Borrower actually receives the proceeds of said LoanAdvance, as if each Borrower hereunder directly received all LoansAdvances. Notwithstanding any other provision of this Agreement or other related document, each Borrower irrevocably waives all rights that it may have at law or in equity (including, without limitation, any law subrogating Borrower to the rights of Silicon Bank under this Agreement) to seek contribution, indemnification or any other form of reimbursement from any other Borrower, or any other Person now or hereafter primarily or secondarily liable for any of the Obligations, for any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise and all rights that it might have to benefit from, or to participate in, any security for the Obligations as a result of any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise. Any agreement providing for indemnification, reimbursement or any other arrangement prohibited under this Section Article shall be null and void. If any payment is made to a Borrower in contravention of this Section, such Borrower shall hold such payment in trust for Silicon Bank and such payment shall be promptly delivered to Silicon Bank for application to the Obligations, whether matured or unmatured.