Common use of Unenforceability of Obligations Clause in Contracts

Unenforceability of Obligations. The obligations of such Guarantor under the Guarantee shall not be subject to any reduction, limitation, impairment, or termination for any reason (other than by payment in full of the Guaranteed Obligations) and shall not be subject to any defense or setoff, counterclaim, recoupment or termination whatsoever by reason of the invalidity, illegality or unenforceability of any of the Guaranteed Obligations, discharge of any Beneficiary from any of the Guaranteed Obligations in a bankruptcy or similar proceeding or otherwise (except by payment in full of the Guaranteed Obligations, subject to the terms of Section 6 below and the next sentence). Such Guarantor further agrees that the Guarantee shall continue to be effective or be reinstated, as the case may be, if at any time payment, or any part thereof, of principal of, interest on or any other amount with respect to any Guaranteed Obligation is rescinded or must otherwise be restored by any Guaranteed Party or any other Person upon the bankruptcy or reorganization of any Beneficiary, any other Person or otherwise.