Common use of Separate Obligation Clause in Contracts

Separate Obligation. The obligation of each Lender to make its Commitment available to the Borrower is a separate obligation between each Lender and the Borrower, and that obligation is not the several or joint and several obligation of any other Lender.

Appears in 7 contracts

Sources: Credit Agreement (Tricon Residential Inc.), Credit Agreement (Tricon Residential Inc.), Credit Agreement (SunOpta Inc.)

Separate Obligation. The obligation of each Lender to make its Commitment available to the Borrower Borrowers is a separate obligation between each Lender and the BorrowerBorrowers, and that obligation is not the several or joint and several obligation of any other LenderLender or the L/C Issuer.

Appears in 3 contracts

Sources: Credit Agreement (Lithia Motors Inc), Credit Agreement (Lithia Motors Inc), Credit Agreement (Lithia Motors Inc)