Common use of Unenforceability of Obligations Against the Borrower Clause in Contracts

Unenforceability of Obligations Against the Borrower. If for any reason the Borrower has no legal existence or is under no legal obligation to discharge any of its obligations under this Agreement or under the other Loan Documents guaranteed by the Guarantor, or if any of such obligations have become irrecoverable from the Borrower by reason of the Borrower’s bankruptcy or reorganization or by other operation of Law or for any other reason, the Guarantee shall, to the fullest extent permitted by applicable Law, nevertheless be binding on the Guarantor to the same extent as if the Guarantor at all times had been the principal obligor on all such obligations. In the event that acceleration of the time for payment of any of the guaranteed obligations of the Borrower under this Agreement or the other Loan Documents is stayed upon the insolvency, bankruptcy or reorganization of the Borrower, or for any other reason, all such obligations otherwise subject to acceleration under the terms of this Agreement and the other Loan Documents or any other agreement evidencing or otherwise executed in connection with any such obligation shall be immediately due and payable by the Guarantor.

Unenforceability of Obligations Against the Borrower. If for any reason the Borrower has no legal existence or is under no legal obligation to discharge any of its obligations under this Agreement or under the other Loan Documents guaranteed by the GuarantorGuaranteed Obligations, or if any of such obligations have become irrecoverable from the Borrower by reason of the Borrower’s bankruptcy or reorganization or by other operation of Law or for any other reason, the Guarantee this Guaranty shall, to the fullest extent permitted by applicable Law, nevertheless be binding on the each Guarantor to the same extent as if the affected Guarantor at all times had been the principal obligor on all such obligationsGuaranteed Obligations. In the event that acceleration of the time for payment of any of the guaranteed obligations of the Borrower under this Agreement or the other Loan Documents Guaranteed Obligations is stayed upon the insolvency, bankruptcy or reorganization of the Borrower, or for any other reason, all such obligations Guaranteed Obligations otherwise subject to acceleration under the terms of this the Credit Agreement and the other Loan Documents or any other agreement evidencing or otherwise executed in connection with any such obligation shall be immediately due and payable by the applicable Guarantor.