Common use of Limitation on Contingent Liabilities Clause in Contracts

Limitation on Contingent Liabilities. The Borrower shall not become liable as guarantor, surety, endorser or otherwise for, or agree to purchase, repurchase or assume, any obligation of any Person, except for endorsement of commercial paper for deposit, collection, or discount in the ordinary course of business.

Limitation on Contingent Liabilities. The Borrower shall not become liable as guarantor, surety, endorser or otherwise for, or agree to purchase, repurchase or assume, any obligation of any Person, except for endorsement of checks and commercial paper for deposit, collection, or discount in the ordinary course of business, which contingent liabilities in the aggregate exceed at any one time the sum of Five Hundred Thousand ($500,000.00) Dollars.

Limitation on Contingent Liabilities. The Without the prior written consent of the Requisite Investors, the Borrower shall not become liable as guarantor, surety, endorser or otherwise for, or agree to purchase, repurchase or assume, any obligation of any Person, except for endorsement of commercial paper for deposit, collection, or discount in the ordinary course of business.

Limitation on Contingent Liabilities. The Borrower shall not become liable as guarantor, surety, endorser or otherwise forendorser, or agree to purchase, repurchase or assume, any obligation of any Person, except for indemnity of its officers and directors, indemnity of purchasers, sellers or distributors of the Borrower’s product against potential product liability claims, or endorsement of commercial paper for deposit, collection, or discount in the ordinary course of business.