Common use of Joint and Several Liability Clause in Contracts

Joint and Several Liability. If Borrower consists of more than one Person, their liability shall be joint and several, and the compromise of any claim with, or the release of, any Borrower shall not constitute a compromise with, or a release of, any other Borrower.

Appears in 265 contracts

Sources: Convertible Note Purchase Agreement (Surf Air Mobility Inc.), Loan and Security Agreement (Cardlytics, Inc.), Convertible Note Purchase Agreement (Surf Air Mobility Inc.)

Joint and Several Liability. If Borrower consists of more than one Personperson or entity, their the liability of each of them shall be joint and several, and the compromise of any claim with, or the release of, any one such Borrower shall not constitute a compromise with, or a release of, any other such Borrower.

Appears in 18 contracts

Sources: Credit Agreement (Semitool Inc), Credit Agreement (International Displayworks, Inc), Credit Agreement (Design Within Reach Inc)

Joint and Several Liability. If the Borrower consists of more than one Personperson, their liability shall be joint and several, and the compromise of any claim with, or the release of, any Borrower shall not constitute a compromise with, or a release of, any other Borrower.

Appears in 11 contracts

Sources: Loan and Security Agreement (Netvantage Inc), Loan and Security Agreement (Truevision Inc), Loan and Security Agreement (Emulex Corp /De/)

Joint and Several Liability. If The liability of each Borrower consists of more than one Person, their liability shall be joint and several, several and the compromise of any claim with, or the release of, any Borrower shall not constitute a compromise with, or a release of, any other Borrower.

Appears in 7 contracts

Sources: Accounts Receivable Financing Agreement (Boxlight Corp), Loan and Security Agreement (RSL Communications PLC), Loan and Security Agreement (Ross Systems Inc/Ca)

Joint and Several Liability. If Borrower consists of more than one Person, their liability shall be joint and several, and the compromise of any claim with, or the release of, any Borrower shall not constitute a compromise with, or a release of, any other BorrowerBorrower or any other Obligor.

Appears in 6 contracts

Sources: Loan and Security Agreement (Fields Aircraft Spares Inc), Loan Agreement (Fields Aircraft Spares Inc), Loan and Security Agreement (Northwest Teleproductions Inc)

Joint and Several Liability. If Borrower consists of more than one Person, their liability shall be joint and several, and the compromise of any claim with, or the release re-lease of, any Borrower shall not constitute a compromise with, or a release of, any other Borrower.

Appears in 5 contracts

Sources: Loan and Security Agreement (Cardlytics, Inc.), Loan and Security Agreement (Activecare, Inc.), Loan and Security Agreement (Entrada Networks Inc)

Joint and Several Liability. If Borrower consists of more than one --------------------------- Person, their liability shall be joint and several, and the compromise of any claim with, or the release of, any Borrower shall not constitute a compromise with, or a release of, any other Borrower.

Appears in 5 contracts

Sources: Annual Report, Loan and Security Agreement (Personify Inc), Loan and Security Agreement (Tut Systems Inc)

Joint and Several Liability. If Borrower Debtor consists of more than one Person, their liability shall be joint and several, and the compromise of any claim with, or the release of, any Borrower Debtor shall not constitute a compromise with, or a release of, any other BorrowerDebtor.

Appears in 4 contracts

Sources: Security Agreement (Occam Networks Inc/De), Security Agreement (Netplex Group Inc), Security Agreement (Sa Telecommunications Inc /De/)

Joint and Several Liability. If Borrower consists of more than one Person, their liability shall be joint and several, and the compromise of any claim with, or the release re­lease of, any Borrower shall not constitute a compromise with, or a release of, any other Borrower.

Appears in 4 contracts

Sources: Loan and Security Agreement (Advanced Photonix Inc), Loan and Security Agreement (EdgeWave, Inc.), Loan and Security Agreement (Reeds Inc)

Joint and Several Liability. If Borrower consists of more than one Personperson or entity, their liability shall be joint and several, and the compromise of any claim with, or the release of, any Borrower shall not constitute a compromise with, or a release of, any other Borrower.

Appears in 3 contracts

Sources: Loan and Security Agreement (Castellum, Inc.), Loan Agreement (Aqua Metals, Inc.), Loan Agreement (Aqua Metals, Inc.)

Joint and Several Liability. If Borrower at any time consists of more than one Person, their liability shall be joint and several, and the compromise of any claim with, or the release of, any Borrower shall not constitute a compromise with, or a release of, any other Borrower.

Appears in 2 contracts

Sources: Loan and Security Agreement (Healthcare Corp of America), Loan and Security Agreement (Selway Capital Acquisition Corp.)

Joint and Several Liability. If Borrower consists of more than one Person, their Borrower’s liability shall be is joint and several, and the compromise of any claim with, or the release of, any Borrower shall not constitute a compromise with, or a release of, any other Borrower.

Appears in 2 contracts

Sources: Loan and Security Agreement (Cogent Communications Group Inc), Loan and Security Agreement (Cogent Communications Group Inc)

Joint and Several Liability. If Borrower consists Borrowers consist of more than one Person, and their liability shall be joint and several, and the compromise of any claim with, or the release of, any either Borrower shall not constitute a compromise with, or a release of, any the other Borrower.

Appears in 1 contract

Sources: Promissory Note

Joint and Several Liability. If the Borrower consists of more than one Personperson, their liability shall be joint and several, and the compromise of any claim with, or the release of, any Borrower shall not constitute a compromise with, or a release of, ' any other Borrower.

Appears in 1 contract

Sources: Loan and Security Agreement (Vitalcom Inc)

Joint and Several Liability. If Borrower consists of more than one --------------------------- Person, their liability shall be joint and several, and the compromise of any claim with, or the release re-lease of, any Borrower shall not constitute a compromise with, or a release of, any other Borrower.

Appears in 1 contract

Sources: Loan and Security Agreement (Lifecell Corp)

Joint and Several Liability. If Borrower consists of more than one Person, their Each Borrower’s liability shall be joint and several, and the compromise of any claim with, or the release of, any Borrower shall not constitute a compromise with, or a release of, any other Borrower.

Appears in 1 contract

Sources: Loan and Security Agreement (Xenogen Corp)

Joint and Several Liability. If Borrower consists of more than one Person, their liability shall be joint and several, and the compromise of any claim with, or the release of, ; any Borrower shall not constitute a compromise with, or a release of, any other Borrower.

Appears in 1 contract

Sources: Loan and Security Agreement (Intelligent Medical Imaging Inc)

Joint and Several Liability. If Borrower consists of more than one Person--------------------------- person or entity, their the liability of each of them shall be joint and several, and the compromise of any claim with, or the release of, any one such Borrower shall not constitute a compromise with, or a release of, any other such Borrower.

Appears in 1 contract

Sources: Credit Agreement (Somera Communications Inc)

Joint and Several Liability. If Borrower consists of more than one --------------------------- Person, their liability shall be joint and arid several, and the compromise of any claim with, or the release of, any Borrower shall not constitute a compromise with, or a release of, any other Borrower.

Appears in 1 contract

Sources: Loan and Security Agreement (Trinagy Inc)

Joint and Several Liability. If Borrower consists of more than one Person, their liability shall be joint and several, and the compromise of any claim with, or the release case of, any Borrower shall not constitute a compromise with, or a release of, any other Borrower.

Appears in 1 contract

Sources: Loan and Security Agreement (Divx Inc)

Joint and Several Liability. If Borrower consists of more than one Person, their liability shall be joint and several, and the compromise of any claim with, or the release of, any Borrower shall not constitute a compromise comprise with, or a release of, any other Borrower.

Appears in 1 contract

Sources: Loan and Security Agreement (Double-Take Software, Inc.)