Common use of Contingent Obligation Clause in Contracts

Contingent Obligation. as to any Person, any (a) obligation, contingent or otherwise, of such Person guaranteeing or having the economic effect of guaranteeing any Debt or other obligation payable or performable by another Person (the “primary obligor”) in any manner, whether directly or indirectly, and including any obligation of such Person, direct or indirect, (i) to purchase or pay (or advance or supply funds for the purchase or payment of) such Debt or other obligation, (ii) to purchase or lease property, securities or services for the purpose of assuring the obligee in respect of such Debt or other obligation of the payment or performance of such Debt or other obligation, (iii) to maintain working capital, equity capital or any other financial statement condition or liquidity or level of income or cash flow of the primary obligor so as to enable the primary obligor to pay such Debt or other obligation, or (iv) entered into for the purpose of assuring in any other manner the obligee in respect of such Debt or other obligation of the payment or performance thereof or to protect such obligee against loss in respect thereof (in whole or in part), or (b) Lien on any assets of such Person securing any Debt or other obligation of any other Person, whether or not such Debt or other obligation is assumed by such Person. The amount of any Contingent Obligation shall be deemed to be an amount equal to the stated or determinable amount of the related primary obligation, or portion thereof, in respect of which such Contingent Obligation is made or, if not stated or determinable, the maximum reasonably anticipated liability in respect thereof as determined by the guaranteeing Person in good faith.

Contingent Obligation. as to any Person, any (a) obligation, contingent or otherwise, of such Person guaranteeing or having the economic effect of guaranteeing any Debt Indebtedness or other obligation payable or performable by another Person (the “primary obligor”) in any manner, whether directly or indirectly, and including any obligation of such Person, direct or indirect, indirect (i) to purchase or pay (or advance or supply funds for the purchase or payment of) such Debt Indebtedness or other obligation, ; (ii) to purchase or lease property, securities or services for the purpose of assuring the obligee in respect of such Debt Indebtedness or other obligation of the payment or performance of such Debt Indebtedness or other obligation, ; (iii) to maintain working capital, equity capital or any other financial statement condition or liquidity or level of income or cash flow of the primary obligor so as to enable the primary obligor to pay such Debt Indebtedness or other obligation, ; or (iv) entered into for the purpose of assuring in any other manner the obligee in respect of such Debt Indebtedness or other obligation of the payment or performance thereof or to protect such obligee against loss in respect thereof (in whole or in part), ; or (b) Lien on any assets of such Person securing any Debt Indebtedness or other obligation of any other Person, whether or not such Debt Indebtedness or other obligation is assumed by such PersonPerson (or any right, contingent or otherwise, of any holder of such Indebtedness to obtain any such Lien). The amount of any Contingent Obligation shall be deemed to be an amount equal to the stated or determinable amount of the related primary obligation, or portion thereof, in respect of which such Contingent Obligation is made or, if not stated or determinable, the maximum reasonably anticipated liability in respect thereof as determined by the guaranteeing Person in good faith.

Contingent Obligation. as to any Personobligation of a Person arising from a guaranty, indemnity or other assurance of payment or performance of any (a) obligationDebt, contingent or otherwiselease, of such Person guaranteeing or having the economic effect of guaranteeing any Debt dividend or other obligation payable or performable by (“primary obligations”) of another Person obligor (the “primary obligor”) in any manner, whether directly or indirectly, and including any obligation of such PersonPerson under any (a) guaranty, direct endorsement, co-making or indirect, sale with recourse of an obligation of a primary obligor; (b) obligation to make take-or-pay or similar payments if required regardless of nonperformance by any other party to the applicable agreement giving rise to such obligation; and (c) arrangement (i) to purchase any primary obligation or pay security therefor, (or advance or ii) to supply funds for the purchase or payment of) such Debt or other of any primary obligation, (iiiii) to maintain or assure working capital, equity capital, net worth or solvency of the primary obligor, (iv) to purchase or lease property, securities Property or services for the purpose of assuring the obligee in respect of such Debt or other obligation of the payment or performance of such Debt or other obligation, (iii) to maintain working capital, equity capital or any other financial statement condition or liquidity or level of income or cash flow ability of the primary obligor so as to enable the perform a primary obligor to pay such Debt or other obligation, or (ivv) entered into for otherwise to assure or hold harmless the purpose holder of assuring in any other manner the obligee in respect of such Debt or other primary obligation of the payment or performance thereof or to protect such obligee against loss in respect thereof (in whole or in part), or (b) Lien on any assets of such Person securing any Debt or other obligation of any other Person, whether or not such Debt or other obligation is assumed by such Personthereof. The amount of any Contingent Obligation shall be deemed to be an amount equal to the stated or determinable amount of the related primary obligationobligation (or, or portion thereofif less, in respect of the maximum amount for which such Person may be liable under the instrument evidencing the Contingent Obligation is made Obligation) or, if not stated or determinable, the maximum reasonably anticipated liability in with respect thereof as determined thereto; provided that (A) the amount of any take-or-pay or similar payment shall be the projected payment due for the applicable period based on such Xxxxx’x pro forma satisfaction of the underlying obligation and (B) the amount of any repurchase obligation shall be the projected payment due for the applicable period. Control: possession, directly or indirectly, of the power to direct or cause direction of a Person’s management or policies, whether through the ability to exercise voting power, by the guaranteeing Person in good faithcontract or otherwise.

Contingent Obligation. as to any Person, any (a) obligation, contingent or otherwise, of such Person guaranteeing or having the economic effect of guaranteeing any Debt Indebtedness or other obligation payable or performable by another Person (the “primary obligor”) in any manner, whether directly or indirectly, and including any obligation of such Person, direct or indirect, (i) to purchase or pay (or advance or supply funds for the purchase or payment of) such Debt Indebtedness or other obligation, (ii) to purchase or lease property, securities or services for the purpose of assuring the obligee in respect of such Debt Indebtedness or other obligation of the payment or performance of such Debt Indebtedness or other obligation, (iii) to maintain working capital, equity capital or any other financial statement condition or liquidity or level of income or cash flow of the primary obligor so as to enable the primary obligor to pay such Debt Indebtedness or other obligation, or (iv) entered into for the purpose of assuring in any other manner the obligee in respect of such Debt Indebtedness or other obligation of the payment or performance thereof or to protect such obligee against loss in respect thereof (in whole or in part), or (b) Lien on any assets of such Person securing any Debt Indebtedness or other obligation of any other Person, whether or not such Debt Indebtedness or other obligation is assumed by such PersonPerson (or any right, contingent or otherwise, of any holder of such Indebtedness to obtain any such Lien). The amount of any Contingent Obligation shall be deemed to be an amount equal to the stated or determinable amount of the related primary obligation, or portion thereof, in respect of which such Contingent Obligation is made or, if not stated or determinable, the maximum reasonably anticipated liability in respect thereof as determined by the guaranteeing Person in good faith.