Severally Enforceable Clause Samples

The "Severally Enforceable" clause establishes that each party's obligations under the agreement can be independently enforced, regardless of the actions or compliance of other parties. In practice, this means that if one party fails to fulfill their responsibilities, the other parties can still be held accountable for their own obligations, and legal action can be taken against any individual party without affecting the others. This clause is particularly useful in multi-party contracts, as it ensures that the failure or default of one party does not invalidate the enforceability of the agreement against the remaining parties, thereby reducing risk and maintaining contractual integrity.
Severally Enforceable. This Guaranty may be enforced severally and successively by any one or more of the Holders of Guaranteed Obligations in one or more actions, whether independent, concurrent, joint, successive or otherwise. The claims, rights and remedies of any Holder of Guaranteed Obligations (i) may not be modified or waived by any other Holder, except as set forth in Section 3.2(a), and (ii) shall not be reduced, discharged, affected or impaired by any deed, act or omission, whether or not wrongful, of any other Holder.
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Severally Enforceable. This Guaranty may be enforced severally and successively by the Lender in one or more actions, whether independent, concurrent, joint, successive or otherwise.
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Related to Severally Enforceable

  • Valid, Binding and Enforceable This Amendment and any assignment or other instrument, document or agreement executed and delivered in connection herewith, will be valid, binding and enforceable in accordance with their respective terms.

  • Legally Enforceable Agreements Each Loan Document has been duly executed and delivered by the Borrower and is a legal, valid and binding obligation of Borrower, enforceable against Borrower in accordance with its terms, except to the extent that such enforcement may be limited by applicable bankruptcy, insolvency and other similar Laws affecting creditors’ rights generally.

  • Legally Enforceable Agreement This Agreement is, and each of the other Loan Documents when delivered under this Agreement will be, a legal, valid and binding obligation of each Borrower and each of its Subsidiaries party thereto, enforceable against it in accordance with its respective terms.

  • Valid and Enforceable All Company IP is valid, subsisting, and enforceable. Without limiting the generality of the foregoing:

  • Customary and Enforceable Provisions For each of the Receivables, determined that the Retail Contract was documented on a blank form approved by in-house legal counsel or that legal advice had been rendered that the Retail Contract contains customary and enforceable provisions such as to render the rights and remedies of the holder thereof adequate for realization against the collateral.