Limitations on Swedish Guarantees Sample Clauses

Limitations on Swedish Guarantees. The obligations of any Guarantor incorporated in Sweden in its capacity as a Guarantor (each a “Swedish Guarantor”) under Clause 19 (Guarantee and Indemnity) of this Agreement shall be limited, if (and only if) required by the provision of the Swedish Companies Act (Sw. Aktiebolagslagen (1975:1385)) (or its equivalent from time to time) regulating (i) unlawful financial assistance and other prohibited loans and guarantees (Chapter 12, Section 7 (or its equivalent from time to time)) and (ii) distribution of assets (Chapter 12, Section 2 (or its equivalent from time to time)) and it is understood that the liability of each Swedish Guarantor under Clause 19 (Guarantee and Indemnity) of this Agreement only applies to the extent permitted by the above mentioned provisions of the Swedish Companies Act, provided that all steps available to the Swedish Guarantors and their respective shareholder to authorise their obligations under this Agreement have been taken.