Common use of Pledgor's Liability Limited in Amount Clause in Contracts

Pledgor's Liability Limited in Amount. Subject to subsection 19.5 ------------------------------------- hereof, but otherwise notwithstanding anything to the contrary contained in this Agreement, the maximum amount of the Debt secured by this Agreement shall not exceed the sum of (a) that portion of the Loan the proceeds of which are used by Borrower to make Valuable Transfers (as hereinafter defined) to Pledgor, plus (b) ninety-five percent (95%) of the Adjusted Net Worth (as hereinafter defined), but only to the extent that the Adjusted Net Worth is a positive number, of Pledgor at the date of this Agreement.

Appears in 1 contract

Samples: Loan Agreement (Oglebay Norton Co /New/)

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Pledgor's Liability Limited in Amount. Subject to subsection 19.5 ------------------------------------- hereof, but otherwise notwithstanding anything to the contrary contained in this Agreement, the maximum amount of the Debt secured by this Agreement shall not exceed the sum of (a) that portion of the Loan Loans and Letters of Credit the proceeds of which are used by Borrower to make Valuable Transfers (as hereinafter defined) to Pledgor, plus (b) ninety-five percent (95%) of the Adjusted Net Worth (as hereinafter defined), but only to the extent that the Adjusted Net Worth is a positive number, of Pledgor at the date of this Agreement.

Appears in 1 contract

Samples: Credit Agreement (Oglebay Norton Co /New/)

Pledgor's Liability Limited in Amount. Subject to subsection 19.5 17.5 ------------------------------------- hereof, but otherwise notwithstanding anything to the contrary contained in this Agreement, the maximum amount of the Debt secured by this Agreement shall not exceed the sum of (a) that portion of the Loan Loans and Letters of Credit the proceeds of which are used by Borrower to make Valuable Transfers (as hereinafter defined) to Pledgor, plus (b) ninety-five percent (95%) of the Adjusted Net Worth (as hereinafter defined), but only to the extent that the Adjusted Net Worth is a positive number, of Pledgor at the date of this Agreement.

Appears in 1 contract

Samples: Credit Agreement (Oglebay Norton Co /New/)

Pledgor's Liability Limited in Amount. Subject to subsection 19.5 ------------------------------------- 9.5 -------------------------------------- hereof, but otherwise notwithstanding anything to the contrary contained in this Agreement, the maximum amount of the Debt secured by this Agreement shall not exceed the sum of (a) that portion of the Loan the proceeds of which are used by Borrower to make Valuable Transfers (as hereinafter defined) to Pledgor, plus (b) ninety-five percent (95%) of the Adjusted Net Worth (as hereinafter defined), but only to the extent that the Adjusted Net Worth is a positive number, of Pledgor at the date of this Agreement.. 115

Appears in 1 contract

Samples: Loan Agreement (Oglebay Norton Co /New/)

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Pledgor's Liability Limited in Amount. Subject to subsection 19.5 ------------------------------------- 9.5 -------------------------------------- hereof, but otherwise notwithstanding anything to the contrary contained in this Agreement, the maximum amount of the Debt secured by this Agreement shall not exceed the sum of (a) that portion of the Loan Loans and Letters of Credit the proceeds of which are used by Borrower to make Valuable Transfers (as hereinafter defined) to Pledgor, plus (b) ninety-five percent (95%) of the Adjusted Net Worth (as hereinafter defined), but only to the extent that the Adjusted Net Worth is a positive number, of Pledgor at the date of this Agreement.

Appears in 1 contract

Samples: Credit Agreement (Oglebay Norton Co /New/)

Pledgor's Liability Limited in Amount. Subject to subsection 19.5 17.5 ------------------------------------- hereof, but otherwise notwithstanding anything to the contrary contained in this Agreement, the maximum amount of the Debt secured by this Agreement shall not exceed the sum of (a) that portion of the Loan the proceeds of which are used by Borrower to make Valuable Transfers (as hereinafter defined) to Pledgor, plus (b) ninety-five percent (95%) of the Adjusted Net Worth (as hereinafter defined), but only to the extent that the Adjusted Net Worth is a positive number, of Pledgor at the date of this Agreement.

Appears in 1 contract

Samples: Loan Agreement (Oglebay Norton Co /New/)

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