Common use of Limitations on Guaranty Clause in Contracts

Limitations on Guaranty. (a) Each Guarantor and the Purchaser hereby confirms that it is its intention that the guarantee provided for in this Article 4 not constitute a fraudulent transfer or conveyance for purposes of the Bankruptcy Code, the Uniform Fraudulent Conveyance Act or any similar Federal or state law. To effectuate the foregoing intention, each Guarantor and the Purchaser hereby irrevocably agrees that the guarantee of the Obligations by each such Guarantor provided for in this Article 4 shall be limited to an amount as will, after giving effect to such maximum amount and all other (contingent or otherwise) liabilities of such Guarantor that are relevant under such laws and after giving effect to any rights to contribution provided in Section 4.7 or pursuant to any agreement providing for an equitable contribution among such Guarantor and the other Guarantors, result in the Obligations guaranteed by such Guarantor in respect of such maximum amount not constituting a fraudulent transfer or conveyance under Section 548 of the Bankruptcy Code, the Uniform Fraudulent Conveyance Act or any comparable Federal or state law.

Limitations on Guaranty. (a) Each Subsidiary Guarantor and the Purchaser Purchasers hereby confirms that it is its intention that the guarantee provided for in this Article 4 V not constitute a fraudulent transfer or conveyance for purposes of the U.S. Bankruptcy Code, the Uniform Fraudulent Conveyance Act or any similar Federal federal or state law. To effectuate the foregoing intention, each Subsidiary Guarantor and the Purchaser Purchasers hereby irrevocably agrees that the guarantee of the Obligations by each such Guarantor provided for in this Article 4 V shall be limited to an amount as will, after giving effect to such maximum amount and all other (contingent or otherwise) liabilities of such Guarantor that are relevant under such laws and after giving effect to any rights to contribution provided in Section 4.7 5.8 or pursuant to any agreement providing for an equitable contribution among such Subsidiary Guarantor and the other Subsidiary Guarantors, result in the Obligations guaranteed by such Subsidiary Guarantor in respect of such maximum amount not constituting a fraudulent transfer or conveyance under Section 548 of the U.S. Bankruptcy Code, the Uniform Fraudulent Conveyance Act or any comparable Federal federal or state law.