Joint & Several Clause Samples

The "Joint & Several" clause establishes that multiple parties are each individually and collectively responsible for fulfilling the obligations under a contract. In practice, this means that if one party fails to meet their responsibilities, the other parties can be required to cover the default, and a claimant may pursue any or all parties for the full amount owed. This clause ensures that the risk of non-performance is minimized for the other party to the contract, as it provides multiple avenues for enforcing obligations and recovering losses.
Joint & Several. Lessee further agrees, whether or not in actual possession of the Premises, that they are jointly and severally liable for all obligations under this Lease Agreement, and that Lessee shall further indemnify, defend and hold harmless Lessor from any and all liability arising prior to the termination of this Lease Agreement for personal injuries or property damage caused or permitted by Lessees, their guests, invitees or other persons permitted on the Premises by Lessee, and that such indemnification and defense obligation shall include, without limitation reasonable costs and attorneys' fees incurred by Lessor with counsel of Lessor’s choice. To the fullest extent permitted under Civil Code §1953, Lessee waives any and all claims against Lessor.
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Joint & Several. Every partner is liable jointly and severally for all the acts of the firm done while he was a partner. The liability of a partner is always unlimited.
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Joint & Several. If the Recipient consists of more than one Person, the covenants of the Recipient will be joint and several covenants of each such Person.
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Joint & Several. (a) All obligations of Guarantors under the Loan Documents (collectively, the “Guarantor Obligations”) shall be the joint and several obligations and liabilities of Guarantors. Hence, each of the Guarantors shall be primarily and directly liable for repayment of the Guarantor Obligations. (b) Notwithstanding any provisions of this Agreement to the contrary, it is intended that the joint and several nature of the liability of each of the Guarantors for the Guarantor Obligations not constitute a “Fraudulent Conveyance” (as defined below). Consequently, Lender and each Guarantor agree that if the liability of a Guarantor for the Guarantor Obligations would, but for the application of this sentence, constitute a Fraudulent Conveyance, the liability of such Guarantor shall be valid and enforceable only to the maximum extent that would not cause such liability or such lien or security interest to constitute a Fraudulent Conveyance, and the liability of such Guarantor and this Agreement shall automatically be deemed to have been amended accordingly. For purposes hereof, “Fraudulent Conveyance” means a fraudulent conveyance under Section 548 of Chapter 11 of Title II of the United States Code (11 U.S.C. § 101, et seq.), as amended (the “Bankruptcy Code”) or a fraudulent conveyance or fraudulent transfer under the applicable provisions of any fraudulent conveyance or fraudulent transfer law or similar law of any state, nation or other governmental unit, as in effect from time to time.
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Joint & Several. All Tenants are jointly & severally liable for all provisions of this Lease. Any act or notice to, or refund to, or signature of, anyone or more of the Tenants regarding any term of this Lease, its renewal, or its termination is binding on all Tenants executing this Lease. Initialed for identification by Tenants: , , , , , & Landlord , Page 7 of 8
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Related to Joint & Several

  • Joint and Several If there is more than one Tenant, the obligations imposed upon Tenant under this Lease shall be joint and several.

  • Obligations Several Nothing contained in this Master AAU or any AAU constitutes you partners with the Manager or with the other Underwriters, and the obligations of you and each of the other Underwriters are several and not joint. Each Underwriter elects to be excluded from the application of Subchapter K, Chapter 1, Subtitle A, of the U.S. Internal Revenue Code of 1986. Each Underwriter authorizes the Manager, on behalf of such Underwriter, to execute such evidence of such election as may be required by the U.S. Internal Revenue Service.

  • Obligations Joint and Several Should more than one person or entity sign this Note as a Borrower, the obligations of each such Borrower shall be joint and several.

  • Joint and Several Liabilities Sector members acknowledge and agree that they and the sector may be held jointly and severally liable for discarding legal sized fish, misreporting, and Annual Catch Entitlement (ACE) overages as specified in Federal regulations.

  • Joint and Several Liability Each Borrower agrees that it is jointly and severally liable for, and absolutely and unconditionally guarantees to Agent and Lenders the prompt payment and performance of, all Obligations and all agreements under the Loan Documents. Each Borrower agrees that its guaranty obligations hereunder constitute a continuing guaranty of payment and not of collection, that such obligations shall not be discharged until Full Payment of the Obligations, and that such obligations are absolute and unconditional, irrespective of (a) the genuineness, validity, regularity, enforceability, subordination or any future modification of, or change in, any Obligations or Loan Document, or any other document, instrument or agreement to which any Obligor is or may become a party or be bound; (b) the absence of any action to enforce this Agreement (including this Section) or any other Loan Document, or any waiver, consent or indulgence of any kind by Agent or any Lender with respect thereto; (c) the existence, value or condition of, or failure to perfect a Lien or to preserve rights against, any security or guaranty for the Obligations or any action, or the absence of any action, by Agent or any Lender in respect thereof (including the release of any security or guaranty); (d) the insolvency of any Obligor; (e) any election by Agent or any Lender in an Insolvency Proceeding for the application of Section 1111(b)(2) of the Bankruptcy Code; (f) any borrowing or grant of a Lien by any other Borrower, as debtor-in-possession under Section 364 of the Bankruptcy Code or otherwise; (g) the disallowance of any claims of Agent or any Lender against any Obligor for the repayment of any Obligations under Section 502 of the Bankruptcy Code or otherwise; or (h) any other action or circumstances that might otherwise constitute a legal or equitable discharge or defense of a surety or guarantor, except Full Payment of all Obligations.