Common use of Unenforceability of Obligations Clause in Contracts

Unenforceability of Obligations. The obligations of each Guarantor under this Guaranty shall not be subject to any reduction, limitation, impairment or termination for any reason except by payment and performance in full of the Guaranteed Obligations (other than (A) contingent indemnification obligations not yet accrued and payable, (B) Letters of Credit and (C) obligations under Secured Hedge Agreements and Cash Management Agreements not yet due and payable, in each case of (B) and (C) as to which other arrangements satisfactory to the relevant L/C Issuer, Hedge Bank Guaranteed Party or Cash Management Guaranteed Party, as applicable, shall have been made), termination of all Commitments under the Credit Agreement and expiration or termination of all Letters of Credit, or except as limited in Section 1(d) of this Guaranty, 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 the Borrower or any other Person from any of the Guaranteed Obligations in a bankruptcy or similar proceeding or otherwise except by payment and performance in full of the Guaranteed Obligations (other than (A) contingent indemnification obligations not yet accrued and payable, (B) Letters of Credit and (C) obligations under Secured Hedge Agreements and Cash Management Agreements not yet due and payable, in each case of (B) and (C) as to which other arrangements satisfactory to the relevant L/C Issuer, Hedge Bank Guaranteed Party or Cash Management Guaranteed Party, as applicable, shall have been made), termination of all Commitments under the Credit Agreement and expiration or termination of all Letters of Credit, or except as limited in Section 1(d) of this Guaranty.