Common use of Secured Obligations Secured Clause in Contracts

Secured Obligations Secured. (a) The security interest created hereby in the Collateral secures the payment and performance of all Secured Obligations. (b) Without limiting the generality of the foregoing, this Agreement secures, as to Grantor, the payment of all amounts that constitute part of the Secured Obligations and would be owed by any Credit Party to any Beneficiary under the Loan Documents but for the fact that they are unenforceable or not allowable due to the existence of a bankruptcy, reorganization or similar proceeding involving a Restricted Person. (c) Notwithstanding any other provision of this Agreement, with respect to any Grantor, the liability of such Grantor hereunder and under each other Loan Document to which it is a party shall be limited to the maximum liability that such Grantor may incur without rendering this Agreement and such other Loan Document subject to avoidance under Section 548 of the United States Bankruptcy Code or any comparable provision or any applicable state or federal law. This subsection (c) shall not apply to the Borrower.

Secured Obligations Secured. (a) The security interest created hereby in the Collateral secures the payment and performance of all Secured Obligations. (b) Without limiting the generality of the foregoing, this Security Agreement secures, as to GrantorDebtor, the payment of all amounts that constitute part of the Secured Obligations and would be owed by any Loan Party (as defined in the Credit Party Agreement) to any Beneficiary of the Secured Parties (as defined in the Credit Agreement) under the Loan Documents (as defined in the Credit Agreement) but for the fact that they are unenforceable or not allowable due to the existence of a bankruptcy, reorganization or similar proceeding involving a Restricted PersonLoan Party. (c) Notwithstanding any other provision of this Security Agreement, with respect to any Grantor, the liability of such Grantor Debtor hereunder and under each other Loan Document to which it is a party shall be limited to the maximum liability that such Grantor Debtor may incur without rendering this Security Agreement and such other Loan Document Documents subject to avoidance under Section 548 of the United States Bankruptcy Code or any comparable provision or of any applicable state or federal law. This subsection (c) shall not apply to the Borrower.