Common use of Limitation on Guaranty of Guaranteed Obligations Clause in Contracts

Limitation on Guaranty of Guaranteed Obligations. In any action or proceeding with respect to each Guarantor involving any state corporate law, the Bankruptcy Code or any other state or federal bankruptcy, insolvency, reorganization or other law affecting the rights of creditors generally, if the obligations of each Guarantor under Section 2 hereof would otherwise be held or determined to be void, invalid or unenforceable, or subordinated to the claims of any other creditors, on account of the amount of its liability under said Section 2, then, notwithstanding any other provision hereof to the contrary, the amount of such liability shall, without any further action by each Guarantor, the Agent or any other Creditor, be automatically limited and reduced to the highest amount which is valid and enforceable and not subordinated to the claims of other creditors as determined in such action or proceeding.

Limitation on Guaranty of Guaranteed Obligations. In any action or proceeding with respect to each any Guarantor involving any state corporate law, the Bankruptcy Code or any other state or federal bankruptcy, insolvency, reorganization or other law affecting the rights of creditors generally, if the obligations of each such Guarantor under Section 2 SECTION 1 hereof would otherwise be held or determined to be void, invalid or unenforceable, or subordinated to the claims of any other creditors, on account of the amount of its liability under said Section 2SECTION 1, then, notwithstanding any other provision hereof to the contrary, the amount of such liability shall, without any further action by each such Guarantor, the any Credit Party, any Agent or any other CreditorPerson, be automatically limited and reduced to the highest amount which is valid and enforceable and not subordinated to the claims of other creditors as determined in such action or proceeding.

Limitation on Guaranty of Guaranteed Obligations. In any action or proceeding with respect to each the Guarantor involving any state corporate law, the Bankruptcy Code or any other state or federal bankruptcy, insolvency, reorganization or other law affecting the rights of creditors generally, if the obligations of each the Guarantor under Section 2 SECTION 1 hereof would otherwise be held or determined to be void, invalid or unenforceable, or subordinated to the claims of any other creditors, on account of the amount of its liability under said Section 2SECTION 1, then, notwithstanding any other provision hereof to the contrary, the amount of such liability shall, without any further action by each the Guarantor, the any Credit Party, any Agent or any other CreditorPerson, be automatically limited and reduced to the highest amount which is valid and enforceable and not subordinated to the claims of other creditors as determined in such action or proceeding.

Limitation on Guaranty of Guaranteed Obligations. In any action or proceeding with respect to each any Guarantor involving any state corporate law, the Bankruptcy Code or any other state or federal bankruptcy, insolvency, reorganization or other law affecting the rights of creditors generally, if the obligations of each such Guarantor under Section 2 1 hereof would otherwise be held or determined to be void, invalid or unenforceable, or subordinated to the claims of any other creditors, on account of the amount of its liability under said Section 21, then, notwithstanding any other provision hereof to the contrary, the amount of such liability shall, without any further action by each such Guarantor, the Agent Lender or any other CreditorSecured Party, or any other Person, be automatically limited and reduced to the highest amount which is valid and enforceable and not subordinated to the claims of other creditors as determined in such action or proceeding.

Limitation on Guaranty of Guaranteed Obligations. In any action or proceeding with respect to each any Guarantor involving any state corporate law, the Bankruptcy Code or any other state or federal bankruptcy, insolvency, reorganization or other law affecting the rights of creditors generally, if the obligations of each such Guarantor under Section 2 SECTION 1 hereof would otherwise be held or determined to be void, invalid or unenforceable, or subordinated to the claims of any other creditors, on account of the amount of its liability under said Section 2SECTION 1, then, notwithstanding any other provision hereof to the contrary, the amount of such liability shall, without any further action by each such Guarantor, any Credit Party, the Agent or any other CreditorPerson, be automatically limited and reduced to the highest amount which is valid and enforceable and not subordinated to the claims of other creditors as determined in such action or proceeding.

Limitation on Guaranty of Guaranteed Obligations. In any action or proceeding with respect to each Guarantor involving any state corporate law, the Bankruptcy Code Debtor Relief Laws or any other state or federal bankruptcy, insolvency, reorganization or other law laws affecting the rights of creditors generally, if the obligations of each such Guarantor under Section 2 hereof this Guaranty would otherwise be held or determined to be void, invalid or unenforceable, or subordinated to the claims of any other creditors, on account of the amount of its liability under said Section 2this Guaranty, then, notwithstanding any other provision hereof to the contrary, the amount of such liability shall, without any further action by each such Guarantor, any Credit Party, the Agent or any other CreditorPerson, be automatically limited and reduced to the highest amount which is valid and enforceable and not subordinated to the claims of other creditors as determined in such action or proceeding.