Common use of Limitation on Amount Obligated; Contribution by Other Persons Clause in Contracts

Limitation on Amount Obligated; Contribution by Other Persons. Anything contained in this Deed of Trust to the contrary notwithstanding, if any Fraudulent Transfer Law (as hereinafter defined) is determined by a court of competent jurisdiction to be applicable to the obligations of Grantor under this Deed of Trust, such obligations shall be limited to a maximum aggregate amount equal to the largest amount that would not render Grantor's obligations under this Deed of Trust subject to avoidance as a fraudulent transfer or conveyance under Section 548 of Title 11 of the United States Code or any applicable provisions of comparable state law (collectively, the "Fraudulent Transfer Laws"), in each case after giving effect to all other liabilities of Grantor, contingent or otherwise, that are relevant under the Fraudulent Transfer Laws to the extent that such indebtedness would be discharged in an amount equal to the amount paid by Grantor under this Deed of Trust pursuant to which the liability of Grantor under this Deed of Trust is included in the liabilities taken into account in determining such maximum amount and after giving effect as assets to the value (as determined under the applicable provisions of the Fraudulent Transfer Laws) of any rights to subrogation, reimbursement, indemnification, or contribution of Grantor pursuant to applicable law or pursuant to the terms of any agreement.

Appears in 2 contracts

Samples: Maxxam Inc, Maxxam Inc

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Limitation on Amount Obligated; Contribution by Other Persons. Anything contained in this Deed of Trust to the contrary notwithstanding, if any Fraudulent Transfer Law (as hereinafter defined) is determined by a court of competent jurisdiction to be applicable to the obligations of Grantor under this Deed of Trust, such obligations shall be limited to a maximum aggregate amount equal to the largest amount that would not render Grantor's ’s obligations under this Deed of Trust subject to avoidance as a fraudulent transfer or conveyance under Section 548 of Title 11 of the United States Code or any applicable provisions of comparable state law (collectively, the "Fraudulent Transfer Laws"), in each case after giving effect to all other liabilities of Grantor, contingent or otherwise, that are relevant under the Fraudulent Transfer Laws to the extent that such indebtedness would be discharged in an amount equal to the amount paid by Grantor under this Deed of Trust pursuant to which the liability of Grantor under this Deed of Trust is included in the liabilities taken into account in determining such maximum amount and after giving effect as assets to the value (as determined under the applicable provisions of the Fraudulent Transfer Laws) of any rights to subrogation, reimbursement, indemnification, or contribution of Grantor pursuant to applicable law or pursuant to the terms of any agreement.

Appears in 2 contracts

Samples: Maxxam Inc, Maxxam Inc

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