Independent Effect of Covenants Sample Clauses
The "Independent Effect of Covenants" clause establishes that each covenant or promise within an agreement operates independently of the others. This means that the breach, invalidity, or unenforceability of one covenant does not affect the validity or enforceability of the remaining covenants. For example, if a party fails to fulfill one specific obligation, the other obligations in the contract remain binding and enforceable. The core function of this clause is to ensure that the agreement's individual commitments stand alone, thereby preserving the integrity of the contract even if one part is challenged or unenforceable.
Independent Effect of Covenants. The Borrower expressly acknowledges and agrees that each covenant contained in Articles VIII or IX hereof shall be given independent effect. Accordingly, the Borrower shall not engage in any transaction or other act otherwise permitted under any covenant contained in Articles VIII or IX, before or after giving effect to such transaction or act, the Borrower shall or would be in breach of any other covenant contained in Articles VIII or IX.
Independent Effect of Covenants. Each Loan Party expressly acknowledges and agrees that each covenant contained in Articles VI and VII shall be given independent effect. Accordingly, neither any Loan Party nor any Subsidiary thereof shall engage in any transaction or other act otherwise permitted under any covenant contained in Article VI or VII, if before or after giving effect to such transaction or act any Loan Party shall or would be in breach of any other covenant contained in Article VI or VII.
Independent Effect of Covenants. In the event there is a conflict or inconsistency between this Agreement and any other Loan Document, the terms of this Agreement shall control; provided that any provision of the Security Documents which imposes additional burdens on the Borrower or its Subsidiaries or further restricts the rights of the Borrower or its Subsidiaries or gives the Administrative Agent or Lenders additional rights shall not be deemed to be in conflict or inconsistent with this Agreement and shall be given full force and effect.
Independent Effect of Covenants. The Borrower expressly acknowledges and agrees that each covenant contained in Article VI shall be given independent effect. Accordingly, the Borrower shall not engage in any transaction or other act otherwise permitted under any covenant contained in Article VI, if before or after giving effect to such transaction or act the Borrower shall or would be in breach of any other covenant contained in Article VI.
Independent Effect of Covenants. Issuer expressly acknowledges and agrees that each covenant contained in Articles VI or VII hereof shall be given independent effect. Accordingly, Issuer shall not engage in any transaction or other act otherwise permitted under any covenant contained in Articles VI or VII, if, before or after giving effect to such transaction or act, Issuer shall or would be in breach of any other covenant contained in Articles VI or VII.
Independent Effect of Covenants. The Borrower expressly acknowledges and agrees that each covenant contained in Articles VIII or IX hereof shall be given independent effect.
Independent Effect of Covenants. The Borrower expressly acknowledges and agrees that each covenant contained in Articles VI or VII hereof shall be given independent effect. Accordingly, the Borrower shall not engage in any transaction or other act otherwise permitted under 52450492_8 any covenant contained in Articles VI or VII, before or after giving effect to such transaction or act, the Borrower shall or would be in breach of any other covenant contained in Articles VI or VII.
Independent Effect of Covenants. The Borrower expressly acknowledges and agrees that each covenant contained herein and in Articles VIII, IX and X of the Revolving Credit Agreement shall be given independent effect. Accordingly, the Borrower and any other applicable Person shall not engage in any transaction or other act otherwise permitted under any covenant contained herein or in Articles VIII, IX and X of the Revolving Credit Agreement if, before or after giving effect to such transaction or act, the Borrower or any other applicable Person shall or would be in breach of any other covenant contained herein or in Articles VIII, IX and X of the Revolving Credit Agreement.
Independent Effect of Covenants. 105 --------------------------------------------------------------------- SECTION 13.20
Independent Effect of Covenants. 71 AMENDED AND RESTATED CREDIT AGREEMENT THIS AMENDED AND RESTATED CREDIT AGREEMENT, dated as of the 19th day of March, 1997, by and among INSIGNIA FINANCIAL GROUP, INC., a corporation organized under the laws of Delaware, the Lenders who are or may become a party to this Agreement (the "Lenders"), and FIRST UNION NATIONAL BANK OF SOUTH CAROLINA, as Administrative Agent for the Lenders, and ▇▇▇▇▇▇ COMMERCIAL PAPER INC., as Syndication Agent.