Common use of Limitation on Guarantor Liability Clause in Contracts

Limitation on Guarantor Liability. For purposes hereof, each Guarantor's liability shall be limited to the lesser of (i) the aggregate amount of the Obligations of the Company under the Notes and this Indenture and (ii) the amount, if any, which would not have (A) rendered such Guarantor "insolvent" (as such term is defined in the United States Bankruptcy Code and in the Debtor and Creditor Law of the State of New York) or (B) left such Guarantor with unreasonably small capital at the time its Subsidiary Guarantee of the Notes was entered into; provided that, it will be a presumption in any lawsuit or other proceeding in which a Guarantor is a party that the amount guaranteed pursuant to the Subsidiary Guarantee is the amount set forth in clause (i) above unless any creditor, or representative of creditors of such Guarantor, or debtor in possession or trustee in bankruptcy of the Guarantor, otherwise proves in such a lawsuit that the aggregate liability of the Guarantor is the amount set forth in clause (ii) above. In making any determination as to solvency or sufficiency of capital of a Guarantor in accordance with the previous sentence, the right of such Guarantor to contribution from other Guarantors, and any other rights such Guarantor may have, contractual or otherwise, shall be taken into account.

Appears in 5 contracts

Samples: Indenture (Diamond Brands Operating Corp), Indenture (Massic Tool Mold & Die Inc), Credit Agreement (Massic Tool Mold & Die Inc)

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Limitation on Guarantor Liability. For purposes hereof, each Guarantor's liability shall be limited to the lesser of (ia) the aggregate amount of the Obligations of the Company under the Notes and this Indenture and (iib) the amount, if any, which would not have (Ai) rendered such Guarantor "insolvent" (as such term is defined in the United States Bankruptcy Code and in the Debtor and Creditor Law of the State of New YorkLaw) or (Bii) left such Guarantor with unreasonably small capital at the time its Subsidiary Guarantee of the Notes was entered into; provided provided, however, that, it will be a presumption in any lawsuit or other proceeding in which a Guarantor is a party that the amount guaranteed pursuant to the Subsidiary Guarantee is the amount set forth in clause (ia) above unless any creditor, or representative of creditors of such Guarantor, or debtor in possession or trustee in bankruptcy of the Guarantor, otherwise proves in such a lawsuit that the aggregate liability of the Guarantor is the amount set forth in clause (iib) above. In making any determination as to solvency or sufficiency of capital of a Guarantor in accordance with the previous sentence, the right of such Guarantor to contribution from other Guarantors, and any other rights such Guarantor may have, contractual or otherwise, shall be taken into account.

Appears in 3 contracts

Samples: Indenture (Trico Marine Services Inc), Indenture (Trico Marine Services Inc), Indenture (Trico Marine Services Inc)

Limitation on Guarantor Liability. For purposes hereof, each Guarantor's liability under its Subsidiary Guarantee shall be limited to the lesser of (ia) the aggregate amount of the Obligations of the Company under the Notes and this Indenture and (iib) the amount, if any, which would not have (Ai) rendered such Guarantor "insolvent" (as such term is defined in the United States Bankruptcy Code Law and in the Debtor and Creditor Law of the State of New York) or (Bii) left such Guarantor with unreasonably small capital at the time its Subsidiary Guarantee of the Notes was entered into; provided provided, however, that, it will be a presumption in any lawsuit or other proceeding in which a Guarantor is a party that the amount guaranteed pursuant to the Subsidiary Guarantee is the amount set forth in clause (ia) above unless any creditor, or representative of creditors of such Guarantor, or debtor in possession or trustee in bankruptcy of the Guarantor, otherwise proves in such a lawsuit that the aggregate liability of the Guarantor is the amount set forth in clause (iib) above. In making any determination as to solvency or sufficiency of capital of a Guarantor in accordance with the previous sentence, the right of such Guarantor to contribution from other Guarantors, and any other rights such Guarantor may have, contractual or otherwise, shall be taken into account.

Appears in 3 contracts

Samples: Indenture (Frontier Oil Corp /New/), Indenture (Pumpkin Air Inc), Indenture (American Eco Corp)

Limitation on Guarantor Liability. For purposes hereof, each the Guarantor's ’s liability shall be that amount from time to time equal to the aggregate liability of the Guarantor under its Note Guarantee, but shall be limited to the lesser of (ia) the aggregate amount of the Obligations of the Company under the Notes and this Indenture Documents and (iib) the amount, if any, which would not have (A) rendered such the Guarantor "insolvent" (as such term is defined in the United States federal Bankruptcy Code Law and in the Debtor and Creditor Law of the State of New York) or ), (B) left such Guarantor it with unreasonably small capital at the time its Subsidiary Note Guarantee of the Notes was entered into, or at the time the Guarantor incurred liability thereunder, after giving effect to the incurrence of existing Indebtedness immediately prior to such time or (C) left the Guarantor with debts beyond the Guarantor’s ability to pay as such debts mature; provided that, it will shall be a presumption in any lawsuit or other proceeding in which a the Guarantor is a party that the amount guaranteed Guaranteed pursuant to the Subsidiary its Note Guarantee is the amount set forth in clause subsection (ia) above unless any creditor, or representative of creditors of such the Guarantor, or debtor in possession or trustee in bankruptcy of the Guarantor, otherwise proves in such a lawsuit or other proceeding that the aggregate liability of the Guarantor is limited to the amount set forth in clause subsection (iib) above. In making any determination as to solvency or sufficiency of capital of a Guarantor in accordance with the previous sentence, the right of such Guarantor to contribution from other Guarantors, and any other rights such Guarantor may have, contractual or otherwise, shall be taken into account.

Appears in 2 contracts

Samples: Indenture (Northern Star Acquisition Corp.), Indenture (Roth CH Acquisition I Co. Parent Corp.)

Limitation on Guarantor Liability. For purposes hereof, each Guarantor's liability shall be limited to the lesser of (ia) the aggregate amount of the Obligations of the Company under the Notes and this Indenture and Indenture, (iib) the amount, if any, which would not have (Ai) rendered such Guarantor "insolvent" (as such term is defined in the United States Bankruptcy Code and in the Debtor and Creditor Law of the State of New YorkLaw) or (Bii) left such Guarantor with unreasonably small capital at the time its Subsidiary Guarantee of the Notes was entered intointo and (c) in the case of Saevik Supply ASA and Saevik Shipping AS, the maximum amount permitted under Norwegian law; provided provided, however, that, it will be a presumption in any lawsuit or other proceeding in which a Guarantor is a party that the amount guaranteed pursuant to the Subsidiary Guarantee is the amount set forth in clause (ia) above unless any creditor, or representative of creditors of such Guarantor, or debtor in possession or trustee in bankruptcy of the Guarantor, otherwise proves in such a lawsuit that the aggregate liability of the Guarantor is the amount set forth in clause clauses (iib) or (c) above. In making any determination as to solvency or sufficiency of capital of a Guarantor in accordance with the previous sentence, the right of such Guarantor to contribution from other Guarantors, and any other rights such Guarantor may have, contractual or otherwise, shall be taken into account.

Appears in 2 contracts

Samples: Indenture (Trico Marine Services Inc), Indenture (Saevik Shipping As)

Limitation on Guarantor Liability. For purposes hereof, each the Guarantor's liability shall be limited to the lesser of (ia) the aggregate amount of the Obligations of the Company under the Notes and this Indenture and (iib) the amount, if any, which would not have (Ai) rendered such the Guarantor "insolvent" (as such term is defined in the United States applicable Bankruptcy Code and in the Debtor and Creditor Law of the State of New YorkLaw) or (Bii) left such the Guarantor with unreasonably small capital at the time its Subsidiary the Parent Guarantee of the Notes was entered into; provided provided, however, that, it will be a presumption in any lawsuit or other proceeding in which a the Guarantor is a party that the amount guaranteed pursuant to the Subsidiary Parent Guarantee is the amount set forth in clause (ia) above unless any creditor, or representative of creditors of such the Guarantor, or debtor in possession or trustee in bankruptcy of the Guarantor, otherwise proves in such a lawsuit that the aggregate liability of the Guarantor is the amount set forth in clause (iib) above. In making any determination as to solvency or sufficiency of capital of a the Guarantor in accordance with the previous sentence, any rights the right of such Guarantor to contribution from other Guarantors, and any other rights such Guarantor may have, contractual or otherwise, shall be taken into account.

Appears in 2 contracts

Samples: Indenture (Avatex Corp), Indenture (Avatex Funding Inc)

Limitation on Guarantor Liability. For purposes hereof, each the Guarantor's liability shall be limited to the lesser of (i) the aggregate amount of the Obligations of the Company under the Notes and this Indenture and (ii) the amount, if any, which would not have (A) rendered such the Guarantor "insolventINSOLVENT" (as such term is defined in the United States Bankruptcy Code and in the Debtor and Creditor Law of the State of New York) or (B) left such the Guarantor with unreasonably small capital at the time its Subsidiary Note Guarantee of the Notes was entered into; provided PROVIDED that, it will be a presumption in any lawsuit or other proceeding in which a the Guarantor is a party that the amount guaranteed pursuant to the Subsidiary Note Guarantee is the amount set forth in clause (i) above unless any creditor, or representative of creditors of such the Guarantor, or debtor in possession or trustee in bankruptcy of the Guarantor, otherwise proves in such a lawsuit that the aggregate liability of the Guarantor is the amount set forth in clause (ii) above. In making any determination as to solvency or sufficiency of capital of a the Guarantor in accordance with the previous sentence, the right of such the Guarantor to contribution from other Guarantorsanother guarantor, and any other rights such the Guarantor may have, contractual or otherwise, shall be taken into account.

Appears in 2 contracts

Samples: Indenture (Musicland Stores Corp), Indenture (Musicland Group Inc /De)

Limitation on Guarantor Liability. For purposes hereof, each the Guarantor's ’s liability shall be that amount from time to time equal to the aggregate liability of the Guarantor under its Note Guarantee, but shall be limited to the lesser of (ia) the aggregate amount of the Obligations of the Company under the Notes and this Indenture Agreement Documents and (iib) the amount, if any, which would not have (A) rendered such the Guarantor "insolvent" (as such term is defined in the United States federal Bankruptcy Code Law and in the Debtor and Creditor Law of the State of New York) or ), (B) left such Guarantor it with unreasonably small capital at the time its Subsidiary Note Guarantee of the Notes was entered into, or at the time the Guarantor incurred liability thereunder, after giving effect to the incurrence of existing Indebtedness immediately prior to such time or (C) left the Guarantor with debts beyond the Guarantor’s ability to pay as such debts mature; provided that, it will shall be a presumption in any lawsuit or other proceeding in which a the Guarantor is a party that the amount guaranteed Guaranteed pursuant to the Subsidiary its Note Guarantee is the amount set forth in clause subsection (ia) above unless any creditor, or representative of creditors of such the Guarantor, or debtor in possession or trustee in bankruptcy of the Guarantor, otherwise proves in such a lawsuit or other proceeding that the aggregate liability of the Guarantor is limited to the amount set forth in clause subsection (iib) above. In making any determination as to solvency or sufficiency of capital of a Guarantor in accordance with the previous sentence, the right of such Guarantor to contribution from other Guarantors, and any other rights such Guarantor may have, contractual or otherwise, shall be taken into account.

Appears in 2 contracts

Samples: Note Issuance Agreement (Appgate, Inc.), Note Issuance Agreement (Northern Star Investment Corp. II)

Limitation on Guarantor Liability. For purposes hereof, each Guarantor's liability shall be limited to the lesser of (i) the aggregate amount of the Obligations of the Company under the Notes and this Indenture and (ii) the amount, if any, which would not have (A) rendered such Guarantor "insolvent" (as such term is defined in the United States Bankruptcy Code Law and in the Debtor and Creditor Law of the State of New York) or (B) left such Guarantor with unreasonably small capital at the time its Subsidiary Guarantee of the Notes was entered into; provided that, it will be a presumption in any lawsuit or other proceeding in which a Guarantor is a party that the amount guaranteed pursuant to the Subsidiary Guarantee is the amount set forth in clause (i) above unless any creditor, or representative of creditors of such Guarantor, or debtor in possession or trustee in bankruptcy of the Guarantor, otherwise proves in such a lawsuit that the aggregate liability of the Guarantor is the amount set forth in clause (ii) above. In making any determination as to solvency or sufficiency of capital of a Guarantor in accordance with the previous sentence, the right of such Guarantor to contribution from other Guarantors, and any other rights such Guarantor may have, contractual or otherwise, shall be taken into account.

Appears in 2 contracts

Samples: Indenture (B&g Foods Inc), Indenture (RWBV Acquisition Corp)

Limitation on Guarantor Liability. For purposes hereof, each Guarantor's liability shall be limited to the lesser of (i) the aggregate amount of the Obligations of the Company under the Notes and this Indenture and (ii) the amount, if any, which would not have (A) rendered such Guarantor "insolvent" (as such term is defined in the United States Bankruptcy Code and in the Debtor and Creditor Law of the State of New York) or (B) left such Guarantor with unreasonably small capital at the time its Subsidiary Guarantee of the Notes was entered into; provided that, it will be a presumption in any lawsuit or other proceeding in which a Guarantor is a party that the amount guaranteed pursuant to the Subsidiary Guarantee is the amount set forth in clause (i) above unless any creditor, or representative of creditors of such Guarantor, or debtor in possession or trustee in bankruptcy of the Guarantor, otherwise proves in such a lawsuit that the aggregate liability of the Guarantor is the amount set forth in clause (ii) above. In making any determination as to solvency or sufficiency of capital of a Guarantor in accordance with the previous sentence, the right of such Guarantor to contribution from other Guarantors, and any other rights such Guarantor may have, contractual or otherwise, shall be taken into account.

Appears in 1 contract

Samples: Indenture (Conmed Corp)

Limitation on Guarantor Liability. For purposes hereof, each Guarantor's liability shall be limited to the lesser of (ia) the aggregate amount of the Obligations of the Company under the Notes and this Indenture and (iib) the amount, if any, which would not have (Ai) rendered such Guarantor "insolvent" insolvent (as such term is defined in the United States Bankruptcy Code and in the Debtor and Creditor Law of the State of New YorkLaw) or (Bii) left such Guarantor with unreasonably small capital at the time its Subsidiary Guarantee of the Notes was entered into; provided that, it will be a presumption in any lawsuit or other proceeding in which a Guarantor is a party that the amount guaranteed pursuant to the Subsidiary Guarantee is the amount set forth in clause (ia) above unless any creditor, or representative of creditors of such Guarantor, or debtor in possession or trustee in bankruptcy of the Guarantor, otherwise proves in such a lawsuit that the aggregate liability of the Guarantor is the amount set forth in clause (iib) above. In making any determination as to solvency or sufficiency of capital of a Guarantor in accordance with the previous sentence, the right of such Guarantor to contribution from other Guarantors, and any other rights such Guarantor may have, contractual or otherwise, shall be taken into account.. 123

Appears in 1 contract

Samples: Indenture (Mmi Products Inc)

Limitation on Guarantor Liability. For purposes hereof, each Guarantor's liability shall be limited to the lesser of (i) the aggregate amount of the Obligations of the Company under the Notes and this Indenture and (ii) the amount, if any, which would not have (A) rendered such Guarantor "insolvent" (as such term is defined in the United States Bankruptcy Code and in the Debtor and Creditor Law of the State of New York) or (B) left such Guarantor with unreasonably small capital at the time its Subsidiary Note Guarantee of the Notes was entered into; provided PROVIDED that, it will be a presumption in any lawsuit or other proceeding in which a Guarantor is a party that the amount guaranteed pursuant to the Subsidiary Note Guarantee is the amount set forth in clause (i) above unless any creditor, or representative of creditors of such Guarantor, or debtor in possession or trustee in bankruptcy of the Guarantor, otherwise proves in such a lawsuit that the aggregate liability of the Guarantor is the amount set forth in clause (ii) above. In making any determination as to solvency or sufficiency of capital of a Guarantor in accordance with the previous sentence, the right of such Guarantor to contribution from other Guarantors, and any other rights such Guarantor may have, contractual or otherwise, shall be taken into account.

Appears in 1 contract

Samples: Indenture (Alaris Medical Systems Inc)

Limitation on Guarantor Liability. For purposes hereof, each the Guarantor's liability shall be limited to the lesser of (i) the aggregate amount of the Obligations of the Company Issuers under the Notes and this Indenture and (ii) the amount, if any, which would not have (A) rendered such the Guarantor "insolvent" (as such term is defined in the United States Bankruptcy Code and in the Debtor and Creditor Law of the State of New York) or (B) left such the Guarantor with unreasonably small capital at the time its Subsidiary Note Guarantee of the Notes was entered into; provided that, it will be a presumption in any lawsuit or other proceeding in which a the Guarantor is a party that the amount guaranteed pursuant to the Subsidiary Note Guarantee is the amount set forth in clause (i) above unless any creditor, or representative of creditors of such the Guarantor, or debtor in possession or trustee in bankruptcy of the Guarantor, otherwise proves in such a lawsuit that the aggregate liability of the Guarantor is the amount set forth in clause (ii) above. In making any determination as to solvency or sufficiency of capital of a Guarantor in accordance with the previous sentence, the right of such Guarantor to contribution from other Guarantors, and any other rights such Guarantor may have, contractual or otherwise, shall be taken into account.

Appears in 1 contract

Samples: Indenture (Nebco Evans Holding Co)

Limitation on Guarantor Liability. For purposes hereof, each Guarantor's liability shall be limited to the lesser of (ia) the aggregate amount of the Obligations obligations of the Company Borrower under the Notes and this Indenture Agreement and (iib) the amount, if any, which would not have (Ai) rendered such Guarantor "insolvent" (as such term is defined in the United States Bankruptcy Code and in the Debtor and Creditor Law of the State of New York) or (Bii) left such Guarantor with unreasonably small capital at the time its Subsidiary Guarantee Note Guarantees of the Notes was entered into; provided that, it will be a presumption in any lawsuit or other proceeding in which a Guarantor is a party that the amount guaranteed pursuant to the Subsidiary Guarantee Note Guarantees is the amount set forth in clause (ia) above unless any creditor, or representative of creditors of such Guarantor, or debtor in debtor-in-possession or trustee in bankruptcy of the Guarantor, otherwise proves in such a lawsuit that the aggregate liability of the Guarantor is the amount set forth in clause (iib) above. In making any determination as to solvency or sufficiency of capital of a Guarantor in accordance with the previous sentence, the right of such Guarantor to contribution from other Guarantors, and any other rights such Guarantor may have, contractual or otherwise, shall be taken into account.

Appears in 1 contract

Samples: Credit Agreement (J Crew Group Inc)

Limitation on Guarantor Liability. For purposes hereof, each Guarantor's liability shall be limited to the lesser of (i) the aggregate amount of the Obligations of the Company under the Notes and this Indenture and (ii) the amount, if any, which would not have (A) rendered such Guarantor "insolvent" (as such term is defined in the United States Bankruptcy Code and in the Debtor and Creditor Law of the State of New York) or (B) left such Guarantor with unreasonably small capital at the time its Subsidiary Guarantee of the Notes was entered into; provided that, that it will be a presumption in any lawsuit or other proceeding in which a Guarantor is a party that the amount guaranteed pursuant to the Subsidiary Guarantee is the amount set forth in clause (i) above unless any creditor, or representative of creditors of such Guarantor, or debtor in possession or trustee in bankruptcy of the Guarantor, otherwise proves in such a lawsuit that the aggregate liability of the Guarantor is the amount set forth in clause (ii) above. In making any determination as to solvency or sufficiency of capital of a Guarantor in accordance with the previous sentence, the right of such Guarantor to contribution from other Guarantors, and any other rights such Guarantor may have, contractual or otherwise, shall be taken into account.

Appears in 1 contract

Samples: Indenture (Katz Media Group Inc)

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Limitation on Guarantor Liability. For purposes hereof, each Guarantor's liability shall be limited to the lesser of (ia) the aggregate amount of the Obligations of the Company under the Notes and this Indenture and (iib) the amount, if any, which would not have (Ai) rendered such Guarantor "insolvent" (as such term is defined in the United States Bankruptcy Code and in the Debtor and Creditor Law of the State of New YorkLaw) or (Bii) left such Guarantor with unreasonably small capital at the time its Subsidiary Guarantee of the Notes was entered into; provided that, it will be a presumption in any lawsuit or other proceeding in which a Guarantor is a party that the amount guaranteed pursuant to the Subsidiary Guarantee is the amount set forth in clause (ia) above unless any creditor, or representative of creditors of such Guarantor, or debtor in possession or trustee in bankruptcy of the Guarantor, otherwise proves in such a lawsuit that the aggregate liability of the Guarantor is the amount set forth in clause (iib) above. In making any determination as to solvency or sufficiency of capital of a Guarantor in accordance with the previous sentence, the right of such Guarantor to contribution from other Guarantors, and any other rights such Guarantor may have, contractual or otherwise, shall be taken into account.

Appears in 1 contract

Samples: Indenture (Greyhound Lines Inc)

Limitation on Guarantor Liability. For purposes hereof, each Guarantor's ’s liability shall be limited to the lesser of (ia) the aggregate amount of the Obligations obligations of the Company Borrower under the Notes and this Indenture Agreement and (iib) the amount, if any, which would not have (Ai) rendered such Guarantor "insolvent" (as such term is defined in the United States Bankruptcy Code Law and in the Debtor and Creditor Law of the State of New York) or (Bii) left such Guarantor with unreasonably small capital at the time its Subsidiary Guarantee Note Guarantees of the Notes was entered into; provided that, it will be a presumption in any lawsuit or other proceeding in which a Guarantor is a party that the amount guaranteed pursuant to the Subsidiary Guarantee Note Guarantees is the amount set forth in clause (ia) above unless any creditor, or representative of creditors of such Guarantor, or debtor in debtor-in-possession or trustee in bankruptcy of the Guarantor, otherwise proves in such a lawsuit that the aggregate liability of the Guarantor is the amount set forth in clause (iib) above. In making any determination as to solvency or sufficiency of capital of a Guarantor in accordance with the previous sentence, the right of such Guarantor to contribution from other Guarantors, and any other rights such Guarantor may have, contractual or otherwise, shall be taken into account.

Appears in 1 contract

Samples: Credit Agreement (J Crew Group Inc)

Limitation on Guarantor Liability. For purposes hereof, each Guarantor's ’s liability shall be that amount from time to time equal to the aggregate liability of such Guarantor under its Note Guarantee, but shall be limited to the lesser of (ia) the aggregate amount of the Obligations obligations of the Company under the Notes and this Indenture Documents and (iib) the amount, if any, which would not have (A) rendered such Guarantor "insolvent" (as such term is defined in the United States federal Bankruptcy Code Law and in the Debtor and Creditor Law of the State of New York) or ), (B) left such Guarantor it with unreasonably small capital at the time its Subsidiary Note Guarantee of the Notes was entered into, or at the time such Guarantor Incurred liability thereunder, after giving effect to the Incurrence of Existing Indebtedness immediately prior to such time or (C) left such Guarantor with debts beyond such Guarantor’s ability to pay as such debts mature; provided that, it will shall be a presumption in any lawsuit or other proceeding in which a such Guarantor is a party that the amount guaranteed Guaranteed pursuant to the Subsidiary its Note Guarantee is the amount set forth in clause subsection (ia) above unless any creditor, or representative of creditors of such Guarantor, or debtor in possession or trustee in bankruptcy of the such Guarantor, otherwise proves in such a lawsuit or other proceeding that the aggregate liability of the such Guarantor is limited to the amount set forth in clause subsection (iib) above. In making any determination as to the solvency or sufficiency of capital of a Guarantor in accordance with the previous sentence, the right of such Guarantor to contribution from other Guarantors, Guarantors and any other rights such Guarantor may have, contractual or otherwise, shall be taken into account.

Appears in 1 contract

Samples: Indenture (Affinity Guest Services, LLC)

Limitation on Guarantor Liability. For purposes hereof, each Guarantor's liability shall be limited to the lesser of (i) the aggregate amount of the Obligations of the Company under the Notes and this Indenture and (ii) the amount, if any, which would not have (A) rendered such Guarantor "insolvent" (as such term is defined in the United States Bankruptcy Code Law and in the Debtor and Creditor Law of the State of New York) or (B) left such Guarantor with unreasonably small capital at the time its Subsidiary Notes Guarantee of the Notes was entered into; provided PROVIDED that, it will be a presumption in any lawsuit or other proceeding in which a Guarantor is a party that the amount guaranteed pursuant to the Subsidiary Notes Guarantee is the amount set forth in clause (i) above unless any creditor, or representative of creditors of such Guarantor, or debtor in possession or trustee in bankruptcy of the Guarantor, otherwise proves in such a lawsuit that the aggregate liability of the Guarantor is the amount set forth in clause (ii) above. In making any determination as to solvency or sufficiency of capital of a Guarantor in accordance with the previous sentence, the right of such Guarantor to contribution from other Guarantors, and any other rights such Guarantor may have, contractual or otherwise, shall be taken into account.

Appears in 1 contract

Samples: Indenture (Von Hoffmann Holdings Inc)

Limitation on Guarantor Liability. For purposes hereof, each Guarantor's liability shall be limited to the lesser of (ia) the aggregate amount of the Obligations of the Company under the Notes and this Indenture and (iib) the amount, if any, which would not have (Ai) rendered such Guarantor "insolvent" (as such term is defined in the United States Bankruptcy Code and in the Debtor and Creditor Law of the State of New YorkLaw) or (Bii) left such Guarantor with unreasonably small capital at the time its Subsidiary Guarantee of the Notes was entered into; provided provided, however, that, it will be a presumption in any lawsuit or other proceeding in which a Guarantor is a party that the amount guaranteed pursuant to the Subsidiary Guarantee is the amount set forth in clause (ia) above unless any creditor, or representative of creditors of such Guarantor, or debtor in possession or trustee in bankruptcy of the Guarantor, otherwise proves in such a lawsuit that the aggregate liability of the Guarantor is the amount set forth in clause (iib) above. In making any determination as to solvency or sufficiency of capital of a Guarantor in accordance with the previous sentence, the right of such Guarantor to contribution from other Guarantors, and any other rights such Guarantor may have, contractual or otherwise, shall be taken into account.

Appears in 1 contract

Samples: Indenture (Wheeling Pittsburgh Corp /De/)

Limitation on Guarantor Liability. For purposes hereof, each Guarantor's liability shall be limited to the lesser of (i) the aggregate amount of the Obligations of the Company under the Notes and this Indenture and (ii) the amount, if any, which would not have (A) rendered such Guarantor "insolvent" (as such term is defined in the United States Bankruptcy Code and in the Debtor and Creditor Law of the State of New York) or (B) left such Guarantor with unreasonably small capital at the time its Subsidiary Guarantee of the Notes was entered into; provided PROVIDED that, it will be a presumption in any lawsuit or other proceeding in which a Guarantor is a party that the amount guaranteed pursuant to the Subsidiary Guarantee is the amount set forth in clause (i) above unless any creditor, or representative of creditors of such Guarantor, or debtor in possession or trustee in bankruptcy of the Guarantor, otherwise proves in such a lawsuit that the aggregate liability of the Guarantor is the amount set forth in clause (ii) above. In making any determination as to solvency or sufficiency of capital of a Guarantor in accordance with the previous sentence, the right of such Guarantor to contribution from other Guarantors, and any other rights such Guarantor may have, contractual or otherwise, shall be taken into account.

Appears in 1 contract

Samples: Indenture (Axiohm Transaction Solutions Inc)

Limitation on Guarantor Liability. For purposes hereof, each Guarantor's liability shall be limited to the lesser of (i) the aggregate amount of the Obligations of the Company under the Notes and this Indenture and (ii) the amount, if any, which would not have (A) rendered such Guarantor "insolvent" (as such term is defined in the United States Bankruptcy Code and in the Debtor and Creditor Law of the State of New York) or (B) left such Guarantor with unreasonably small capital at the time its Subsidiary Guarantee of the Notes was entered into; provided that, that it will be a presumption in any lawsuit or other proceeding in which a Guarantor is a party that the amount guaranteed pursuant to the Subsidiary Guarantee is the amount set forth in clause (i) above unless any creditor, or representative of creditors of such Guarantor, or debtor in possession or trustee in bankruptcy of the Guarantor, otherwise proves in such a lawsuit that the aggregate liability of the Guarantor is the amount set forth in clause (ii) above. In making any determination as to solvency or sufficiency of capital of a Guarantor in accordance with the previous sentence, the right of such Guarantor to contribution from other Guarantors, and any other rights such Guarantor may have, contractual or otherwise, shall be taken into account.making

Appears in 1 contract

Samples: Indenture (Chancellor Media Corp of Los Angeles)

Limitation on Guarantor Liability. For purposes hereof, each Guarantor's liability shall be limited to the lesser of (ia) the aggregate amount of the Obligations of the Company under the Notes and this Indenture and (iib) the amount, if any, which would not have (Ai) rendered such Guarantor "insolvent" insolvent (as such term is defined in the United States Bankruptcy Code and in the Debtor and Creditor Law of the State of New YorkLaw) or (Bii) left such Guarantor with unreasonably small capital at the time its Subsidiary Guarantee of the Notes was entered into; provided that, it will be a presumption in any lawsuit or other proceeding in which a Guarantor is a party that the amount guaranteed pursuant to the Subsidiary Guarantee is the amount set forth in clause (ia) above unless any creditor, or representative of creditors of such Guarantor, or debtor in possession or trustee in bankruptcy of the Guarantor, otherwise proves in such a lawsuit that the aggregate liability of the Guarantor is the amount set forth in clause (iib) above. In making any determination as to solvency or sufficiency of capital of a Guarantor in accordance with the previous sentence, the right of such Guarantor to contribution from other Guarantors, and any other rights such Guarantor may have, contractual or otherwise, shall be taken into account.

Appears in 1 contract

Samples: Indenture (Mmi Products Inc)

Limitation on Guarantor Liability. For purposes hereof, each Guarantor's liability shall be limited to the lesser of (i) the aggregate amount of the Obligations of the Company under the Notes and this Indenture and (ii) the amount, if any, which would not have (A) rendered such Guarantor "insolvent" (as such term is defined in the United States Bankruptcy Code and in the Debtor and Creditor Law of the State of New York) or (B) left such Guarantor with unreasonably small capital at the time its Subsidiary Guarantee of the Notes was entered into; provided that, it will be a presumption in any lawsuit or other proceeding in which a Guarantor is a party that the amount guaranteed pursuant to the Subsidiary Guarantee of the Notes is the amount set forth in clause (i) above unless any creditor, or representative of creditors of such Guarantor, or debtor in possession or trustee in bankruptcy of the Guarantor, otherwise proves in such a lawsuit that the aggregate liability of the Guarantor is the amount set forth in clause (ii) above. In making any determination as to solvency or sufficiency of capital of a Guarantor in accordance with the previous sentence, the right of such Guarantor to contribution from other Guarantors, and any other rights such Guarantor may have, contractual or otherwise, shall be taken into account.

Appears in 1 contract

Samples: Indenture (Dyersburg Corp)

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