Common use of Bankruptcy Limitations Clause in Contracts

Bankruptcy Limitations. Notwithstanding anything to the contrary contained in this Agreement, it is the intention of each U.S. Borrower, the Administrative Agent and the Lenders that, in any proceeding involving the bankruptcy, reorganization, arrangement, adjustment of debts, relief of debtors, dissolution or insolvency or any similar proceeding with respect to any U.S. Borrower or its assets, the amount of such U.S. Borrower’s obligations with respect to the Bowater Guaranteed Obligations shall be equal to, but not in excess of, the maximum amount thereof not subject to avoidance or recovery by operation of Applicable Insolvency Laws after giving effect to Section 11.9(c). To that end, but only in the event and to the extent that after giving effect to Section 11.9(c), such U.S. Borrower’s obligations with respect to the Bowater Guaranteed Obligations or any payment made pursuant to such Bowater Guaranteed Obligations would, but for the operation of the first sentence of this Section 11.9(b), be subject to avoidance or recovery in any such proceeding under Applicable Insolvency Laws after giving effect to Section 11.9(c), the amount of such U.S. Borrower’s obligations with respect to the Bowater Guaranteed Obligations shall be limited to the largest amount which, after giving effect thereto, would not, under Applicable Insolvency Laws, render such U.S. Borrower’s obligations with respect to the Bowater Guaranteed Obligations unenforceable or avoidable or otherwise subject to recovery under Applicable Insolvency Laws. To the extent any payment actually made pursuant to the Bowater Guaranteed Obligations exceeds the limitation of the first sentence of this Section 11.9(b) and is otherwise subject to avoidance and recovery in any such proceeding under Applicable Insolvency Laws, the amount subject to avoidance shall in all events be limited to the amount by which such actual payment exceeds such limitation and the Bowater Guaranteed Obligations as limited by the first sentence of this Section 11.9(b) shall in all events remain in full force and effect and be fully enforceable against such U.S. Borrower. The first sentence of this Section 11.9(b) is intended solely to preserve the rights of the Administrative Agent and the Lenders hereunder against such U.S. Borrower in such proceeding to the maximum extent permitted by Applicable Insolvency Laws and neither such U.S. Borrower, any other U.S. Borrower, any Guarantor nor any other Person shall have any right or claim under such sentence that would not otherwise be available under Applicable Insolvency Laws in such proceeding.

Bankruptcy Limitations. Notwithstanding anything to the contrary contained in this Agreement, it is the intention of each U.S. Borrower, the Administrative Agent and the Lenders that, in any proceeding involving the bankruptcy, reorganization, arrangement, adjustment of debts, relief of debtors, dissolution or insolvency or any similar proceeding with respect to any U.S. Borrower or its assets, the amount of such U.S. Borrower’s 's obligations with respect to the Bowater Guaranteed Obligations shall be equal to, but not in excess of, the maximum amount thereof not subject to avoidance or recovery by operation of Applicable Insolvency Laws after giving effect to Section 11.9(c4.15(c). To that end, but only in the event and to the extent that after giving effect to Section 11.9(c4.15(c), such U.S. Borrower’s 's obligations with respect to the Bowater Guaranteed Obligations or any payment made pursuant to such Bowater Guaranteed Obligations would, but for the operation of the first sentence of this Section 11.9(b4.15(b), be subject to avoidance or recovery in any such proceeding under Applicable Insolvency Laws after giving effect to Section 11.9(c4.15(c), the amount of such U.S. Borrower’s 's obligations with respect to the Bowater Guaranteed Obligations shall be limited to the largest amount which, after giving effect thereto, would not, under Applicable Insolvency Laws, render such U.S. Borrower’s 's obligations with respect to the Bowater Guaranteed Obligations unenforceable or avoidable or otherwise subject to recovery under Applicable Insolvency Laws. To the extent any payment actually made pursuant to the Bowater Guaranteed Obligations exceeds the limitation of the first sentence of this Section 11.9(b4.15(b) and is otherwise subject to avoidance and recovery in any such proceeding under Applicable Insolvency Laws, the amount subject to avoidance shall in all events be limited to the amount by which such actual payment exceeds such limitation and the Bowater Guaranteed Obligations as limited by the first sentence of this Section 11.9(b4.15(b) shall in all events remain in full force and effect and be fully enforceable against such U.S. Borrower. The first sentence of this Section 11.9(b4.15(b) is intended solely to preserve the rights of the Administrative Agent and the Lenders hereunder against such U.S. Borrower in such proceeding to the maximum extent permitted by Applicable Insolvency Laws and neither such U.S. Borrower, any other U.S. Borrower, any Guarantor nor any other Person shall have any right or claim under such sentence that would not otherwise be available under Applicable Insolvency Laws in such proceeding.

Bankruptcy Limitations. Notwithstanding anything to the contrary contained in this Agreement, it is the intention of each U.S. Borrower, the Administrative Agent and the Lenders that, in any proceeding involving the bankruptcy, reorganization, arrangement, adjustment of debts, relief of debtors, dissolution or insolvency or any similar proceeding with respect to any U.S. Borrower or its assets, the amount of such U.S. Borrower’s obligations with respect to the Bowater Guaranteed Obligations shall be equal to, but not in excess of, the maximum amount thereof not subject to avoidance or recovery by operation of Applicable Insolvency Laws after giving effect to Section 11.9(c4.15(c). To that end, but only in the event and to the extent that after giving effect to Section 11.9(c4.15(c), such U.S. Borrower’s obligations with respect to the Bowater Guaranteed Obligations or any payment made pursuant to such Bowater Guaranteed Obligations would, but for the operation of the first sentence of this Section 11.9(b4.15(b), be subject to avoidance or recovery in any such proceeding under Applicable Insolvency Laws after giving effect to Section 11.9(c4.15(c), the amount of such U.S. Borrower’s obligations with respect to the Bowater Guaranteed Obligations shall be limited to the largest amount which, after giving effect thereto, would not, under Applicable Insolvency Laws, render such U.S. Borrower’s obligations with respect to the Bowater Guaranteed Obligations unenforceable or avoidable or otherwise subject to recovery under Applicable Insolvency Laws. To the extent any payment actually made pursuant to the Bowater Guaranteed Obligations exceeds the limitation of the first sentence of this Section 11.9(b4.15(b) and is otherwise subject to avoidance and recovery in any such proceeding under Applicable Insolvency Laws, the amount subject to avoidance shall in all events be limited to the amount by which such actual payment exceeds such limitation and the Bowater Guaranteed Obligations as limited by the first sentence of this Section 11.9(b4.15(b) shall in all events remain in full force and effect and be fully enforceable against such U.S. Borrower. The first sentence of this Section 11.9(b4.15(b) is intended solely to preserve the rights of the Administrative Agent and the Lenders hereunder against such U.S. Borrower in such proceeding to the maximum extent permitted by Applicable Insolvency Laws and neither such U.S. Borrower, any other U.S. Borrower, any Guarantor nor any other Person shall have any right or claim under such sentence that would not otherwise be available under Applicable Insolvency Laws in such proceeding.

Bankruptcy Limitations. Notwithstanding anything to the contrary contained in this Agreement, it is the intention of each U.S. Borrower, the Administrative Agent and the Lenders that, in any proceeding involving the bankruptcy, reorganization, arrangement, adjustment of debts, relief of debtors, dissolution or insolvency or any similar proceeding with respect to any U.S. Borrower or its assets, the amount of such U.S. Borrower’s 's obligations with respect to the Bowater Guaranteed Obligations shall be equal to, but not in excess of, the maximum amount thereof not subject to avoidance or recovery by operation of Applicable Insolvency Laws after giving effect to Section 11.9(c). To that end, but only in the event and to the extent that after giving effect to Section 11.9(c), such U.S. Borrower’s 's obligations with respect to the Bowater Guaranteed Obligations or any payment made pursuant to such Bowater Guaranteed Obligations would, but for the operation of the first sentence of this Section 11.9(b), be subject to avoidance or recovery in any such proceeding under Applicable Insolvency Laws after giving effect to Section 11.9(c), the amount of such U.S. Borrower’s 's obligations with respect to the Bowater Guaranteed Obligations shall be limited to the largest amount which, after giving effect thereto, would not, under Applicable Insolvency Laws, render such U.S. Borrower’s 's obligations with respect to the Bowater Guaranteed Obligations unenforceable or avoidable or otherwise subject to recovery under Applicable Insolvency Laws. To the extent any payment actually made pursuant to the Bowater Guaranteed Obligations exceeds the limitation of the first sentence of this Section 11.9(b) and is otherwise subject to avoidance and recovery in any such proceeding under Applicable Insolvency Laws, the amount subject to avoidance shall in all events be limited to the amount by which such actual payment exceeds such limitation and the Bowater Guaranteed Obligations as limited by the first sentence of this Section 11.9(b) shall in all events remain in full force and effect and be fully enforceable against such U.S. Borrower. The first sentence of this Section 11.9(b) is intended solely to preserve the rights of the Administrative Agent and the Lenders hereunder against such U.S. Borrower in such proceeding to the maximum extent permitted by Applicable Insolvency Laws and neither such U.S. Borrower, any other U.S. Borrower, any Guarantor nor any other Person shall have any right or claim under such sentence that would not otherwise be available under Applicable Insolvency Laws in such proceeding.

Bankruptcy Limitations. Notwithstanding anything to the contrary contained in this Agreement, it is the intention of each U.S. Borrower, the Administrative Agent and the Revolving Credit Lenders that, in any proceeding involving the bankruptcy, reorganization, arrangement, adjustment of debts, relief of debtors, dissolution or insolvency or any similar proceeding with respect to any U.S. Borrower or its assets, the amount of such U.S. Borrower’s obligations with respect to the Bowater Guaranteed Obligations shall be equal to, but not in excess of, the maximum amount thereof not subject to avoidance or recovery by operation of Applicable Insolvency Laws after giving effect to Section 11.9(c2.7(c). To that end, but only in the event and to the extent that after giving effect to Section 11.9(c2.7(c), such U.S. Borrower’s obligations with respect to the Bowater Guaranteed Obligations or any payment made pursuant to such Bowater Guaranteed Obligations would, but for the operation of the first sentence of this Section 11.9(b2.7(b), be subject to avoidance or recovery in any such proceeding under Applicable Insolvency Laws after giving effect to Section 11.9(c2.7(c), the amount of such U.S. Borrower’s obligations with respect to the Bowater Guaranteed Obligations shall be limited to the largest amount which, after giving effect thereto, would not, under Applicable Insolvency Laws, render such U.S. Borrower’s obligations with respect to the Bowater Guaranteed Obligations unenforceable or avoidable or otherwise subject to recovery under Applicable Insolvency Laws. To the extent any payment actually made pursuant to the Bowater Guaranteed Obligations exceeds the limitation of the first sentence of this Section 11.9(b2.7(b) and is otherwise subject to avoidance and recovery in any such proceeding under Applicable Insolvency Laws, the amount subject to avoidance shall in all events be limited to the amount by which such actual payment exceeds such limitation and the Bowater Guaranteed Obligations as limited by the first sentence of this Section 11.9(b2.7(b) shall in all events remain in full force and effect and be fully enforceable against such U.S. Borrower. The first sentence of this Section 11.9(b2.7(b) is intended solely to preserve the rights of the Administrative Agent and the Lenders hereunder against such U.S. Borrower in such proceeding to the maximum extent permitted by Applicable Insolvency Laws and neither such U.S. Borrower, any other U.S. Borrower, any Guarantor Borrower nor any other Person shall have any right or claim under such sentence that would not otherwise be available under Applicable Insolvency Laws in such proceeding.

Bankruptcy Limitations. Notwithstanding anything to the contrary contained in this Agreement, it is the intention of each U.S. Borrower, the Administrative Agent and the Lenders that, in any proceeding involving the bankruptcy, reorganization, arrangement, adjustment of debts, relief of debtors, dissolution or insolvency or any similar proceeding with respect to any U.S. Borrower or its assets, the amount of such U.S. Borrower’s obligations with respect to the Bowater Guaranteed Obligations shall be equal to, but not in excess of, the maximum amount thereof not subject to avoidance or recovery by operation of Applicable Insolvency Laws (as defined below) after giving effect to Section 11.9(c2.14(c). To that end, but only in the event and to the extent that after giving effect to Section 11.9(c2.14(c), such U.S. Borrower’s obligations with respect to the Bowater Guaranteed Obligations or any payment made pursuant to such Bowater Guaranteed Obligations would, but for the operation of the first sentence of this Section 11.9(b2.14(b), be subject to avoidance or recovery in any such proceeding under Applicable Insolvency Laws after giving effect to Section 11.9(c2.14(c), the amount of such U.S. Borrower’s obligations with respect to the Bowater Guaranteed Obligations shall be limited to the largest amount which, after giving effect thereto, would not, under Applicable Insolvency Laws, render such U.S. Borrower’s obligations with respect to the Bowater Guaranteed Obligations unenforceable or avoidable or otherwise subject to recovery under Applicable Insolvency Laws. To the extent any payment actually made pursuant to the Bowater Guaranteed Obligations exceeds the limitation of the first sentence of this Section 11.9(b2.14(b) and is otherwise subject to avoidance and recovery in any such proceeding under Applicable Insolvency Laws, the amount subject to avoidance shall in all events be limited to the amount by which such actual payment exceeds such limitation and the Bowater Guaranteed Obligations as limited by the first sentence of this Section 11.9(b2.14(b) shall in all events remain in full force and effect and be fully enforceable against such U.S. Borrower. The first sentence of this Section 11.9(b2.14(b) is intended solely to preserve the rights of the Administrative Agent and the Lenders hereunder against such U.S. Borrower in such proceeding to the maximum extent permitted by Applicable Insolvency Laws and neither such U.S. Borrower, any other U.S. Borrower, any Guarantor Borrower nor any other Person shall have any right or claim under such sentence that would not otherwise be available under Applicable Insolvency Laws in such proceeding. For the purposes of this Section 2.14(b), “Applicable Insolvency Laws” means all applicable laws governing bankruptcy, reorganization, arrangement, adjustment of debts, relief of debtors, dissolution, insolvency, fraudulent transfers or conveyances or other similar laws, whether foreign or domestic (including, without limitation, 11 U.S.C. Sections 544, 547, 548 and 550 and other “avoidance” provisions of Title 11 of the United States Code, as amended or supplemented).

Bankruptcy Limitations. Notwithstanding anything to the contrary contained in this Agreement, it is the intention of each U.S. Multicurrency Borrower, the Administrative Agent and the Revolving Lenders that, in any proceeding involving the bankruptcy, reorganization, arrangement, adjustment of debts, relief of debtors, dissolution or insolvency or any similar proceeding with respect to any U.S. Multicurrency Borrower or its assets, the amount of such U.S. Multicurrency Borrower’s 's obligations with respect to the Bowater Guaranteed Revolving Obligations shall be equal to, but not in excess of, the maximum amount thereof not subject to avoidance or recovery by operation of Applicable Insolvency Laws after giving effect to Section 11.9(c2.7(c). To that end, but only in the event and to the extent that after giving effect to Section 11.9(c2.7(c), such U.S. Multicurrency Borrower’s 's obligations with respect to the Bowater Guaranteed Revolving Obligations or any payment made pursuant to such Bowater Guaranteed Revolving Obligations would, but for the operation of the first sentence of this Section 11.9(b2.7(b), be subject to avoidance or recovery in any such proceeding under Applicable Insolvency Laws after giving effect to Section 11.9(c2.7(c), the amount of such U.S. Multicurrency Borrower’s 's obligations with respect to the Bowater Guaranteed Revolving Obligations shall be limited to the largest amount which, after giving effect thereto, would not, under Applicable Insolvency Laws, render such U.S. Multicurrency Borrower’s 's obligations with respect to the Bowater Guaranteed Revolving Obligations unenforceable or avoidable or otherwise subject to recovery under Applicable Insolvency Laws. To the extent any payment actually made pursuant to the Bowater Guaranteed Revolving Obligations exceeds the limitation of the first sentence of this Section 11.9(b2.7(b) and is otherwise subject to avoidance and recovery in any such proceeding under Applicable Insolvency Laws, the amount subject to avoidance shall in all events be limited to the amount by which such actual payment exceeds such limitation and the Bowater Guaranteed Revolving Obligations as limited by the first sentence of this Section 11.9(b2.7(b) shall in all events remain in full force and effect and be fully enforceable against such U.S. Multicurrency Borrower. The first sentence of this Section 11.9(b2.7(b) is intended solely to preserve the rights of the Administrative Agent and the Lenders hereunder against such U.S. Multicurrency Borrower in such proceeding to the maximum extent permitted by Applicable Insolvency Laws and neither such U.S. Multicurrency Borrower, any other U.S. Borrower, any Subsidiary Guarantor nor any other Person shall have any right or claim under such sentence that would not otherwise be available under Applicable Insolvency Laws in such proceeding.

Bankruptcy Limitations. Notwithstanding anything to the contrary contained in this Agreement, it is the intention of each U.S. Borrower, the Administrative Agent and the Lenders that, in any proceeding involving the bankruptcy, reorganization, arrangement, adjustment of debts, relief of debtors, dissolution or insolvency or any similar proceeding with respect to any U.S. Borrower or its assets, the amount of such U.S. Borrower’s obligations with respect to the Bowater Guaranteed Obligations shall be equal to, but not in excess of, the maximum amount thereof not subject to avoidance or recovery by operation of Applicable Insolvency Laws (as defined below) after giving effect to Section 11.9(c9.22(c). To that end, but only in the event and to the extent that after giving effect to Section 11.9(c9.22(c), such U.S. Borrower’s obligations with respect to the Bowater Guaranteed Obligations or any payment made pursuant to such Bowater Guaranteed Obligations would, but for the operation of the first sentence of this Section 11.9(b9.22(b), be subject to avoidance or recovery in any such proceeding under Applicable Insolvency Laws after giving effect to Section 11.9(c9.22(c), the amount of such U.S. Borrower’s obligations with respect to the Bowater Guaranteed Obligations shall be limited to the largest amount which, after giving effect thereto, would not, under Applicable Insolvency Laws, render such U.S. Borrower’s obligations with respect to the Bowater Guaranteed Obligations unenforceable or avoidable or otherwise subject to recovery under Applicable Insolvency Laws. To the extent any payment actually made pursuant to the Bowater Guaranteed Obligations exceeds the limitation of the first sentence of this Section 11.9(b9.22(b) and is otherwise subject to avoidance and recovery in any such proceeding under Applicable Insolvency Laws, the amount subject to avoidance shall in all events be limited to the amount by which such actual payment exceeds such limitation and the Bowater Guaranteed Obligations as limited by the first sentence of this Section 11.9(b9.22(b) shall in all events remain in full force and effect and be fully enforceable against such U.S. Borrower. The first sentence of this Section 11.9(b9.22(b) is intended solely to preserve the rights of the Administrative Agent and the Lenders hereunder against such U.S. Borrower in such proceeding to the maximum extent permitted by Applicable Insolvency Laws and neither such U.S. Borrower, any other U.S. Borrower, any Guarantor Borrower nor any other Person shall have any right or claim under such sentence that would not otherwise be available under Applicable Insolvency Laws in such proceeding. For the purposes of this Section 9.22(b), “Applicable Insolvency Laws” means all applicable laws governing bankruptcy, reorganization, arrangement, adjustment of debts, relief of debtors, dissolution, insolvency, fraudulent transfers or conveyances or other similar laws, whether foreign or domestic (including, without limitation, 11 U.S.C. Sections 544, 547, 548 and 550 and other “avoidance” provisions of Title 11 of the United States Code, as amended or supplemented).

Bankruptcy Limitations. Notwithstanding anything to the contrary contained in this Agreement, it is the intention of each U.S. Borrower, the Administrative Agent and the Lenders that, in any proceeding involving the bankruptcy, reorganization, arrangement, adjustment of debts, relief of debtors, dissolution or insolvency or any similar proceeding with respect to any U.S. Borrower or its assets, the amount of such U.S. Borrower’s obligations with respect to the Bowater Guaranteed Obligations shall be equal to, but not in excess of, the maximum amount thereof not subject to avoidance or recovery by operation of Applicable Insolvency Laws after giving effect to Section 11.9(c). To that end, but only in the event and to the extent that after giving effect to Section 11.9(c), such U.S. Borrower’s obligations with respect to the Bowater Guaranteed Obligations or any payment made pursuant to such Bowater Guaranteed Obligations would, but for the operation of the first sentence of this Section 11.9(b), be subject to avoidance or recovery in any such proceeding under Applicable Insolvency Laws after giving effect to Section 11.9(c), the amount of such U.S. Borrower’s obligations with respect to the Bowater Guaranteed Obligations shall be limited to the largest amount which, after giving effect thereto, would not, under Applicable Insolvency Laws, render such U.S. Borrower’s obligations with respect to the Bowater Guaranteed Obligations unenforceable or avoidable or otherwise subject to recovery under Applicable Insolvency Laws. To the extent any payment actually made pursuant to the Bowater Guaranteed Obligations exceeds the limitation of the first sentence of this Section 11.9(b) and is otherwise subject to avoidance and recovery in any such proceeding under Applicable Insolvency Laws, the amount subject to avoidance shall in -- all events be limited to the amount by which such actual payment exceeds such limitation and the Bowater Guaranteed Obligations as limited by the first sentence of this Section 11.9(b) shall in all events remain in full force and effect and be fully enforceable against such U.S. Borrower. The first sentence of this Section 11.9(b) is intended solely to preserve the rights of the Administrative Agent and the Lenders hereunder against such U.S. Borrower in such proceeding to the maximum extent permitted by Applicable Insolvency Laws and neither such U.S. Borrower, any other U.S. Borrower, any Guarantor nor any other Person shall have any right or claim under such sentence that would not otherwise be available under Applicable Insolvency Laws in such proceeding.

Bankruptcy Limitations. Notwithstanding anything to the contrary contained in this Agreement, it is the intention of each U.S. Borrower, the Administrative Agent and the Lenders that, in any proceeding involving the bankruptcy, reorganization, arrangement, adjustment of debts, relief of debtors, dissolution or insolvency or any similar proceeding with respect to any U.S. Borrower or its assets, the amount of such U.S. Borrower’s 's obligations with respect to the Bowater Guaranteed Obligations shall be equal to, but not in excess of, the maximum amount thereof not subject to avoidance or recovery by operation of Applicable Insolvency Laws after giving effect to Section 11.9(c). To that end, but only in the event and to the extent that after giving effect to Section 11.9(c), such U.S. Borrower’s 's obligations with respect to the Bowater Guaranteed Obligations or any payment made pursuant to such Bowater Guaranteed Obligations would, but for the operation of the first sentence of this Section 11.9(b), be subject to avoidance or recovery in any such proceeding under Applicable Insolvency Laws after giving effect to Section 11.9(c), the amount of such U.S. Borrower’s 's obligations with respect to the Bowater Guaranteed Obligations shall be limited to the largest amount which, after giving effect thereto, would not, under Applicable Insolvency Laws, render such U.S. Borrower’s 's obligations with respect to the Bowater Guaranteed Obligations unenforceable or avoidable or otherwise subject to recovery under Applicable Insolvency Laws. To the extent any payment actually made pursuant to the Bowater Guaranteed Obligations exceeds the limitation of the first sentence of this Section 11.9(b) and is otherwise subject to avoidance and recovery in any such proceeding under Applicable Insolvency Laws, the amount subject to avoidance shall in -- all events be limited to the amount by which such actual payment exceeds such limitation and the Bowater Guaranteed Obligations as limited by the first sentence of this Section 11.9(b) shall in all events remain in full force and effect and be fully enforceable against such U.S. Borrower. The first sentence of this Section 11.9(b) is intended solely to preserve the rights of the Administrative Agent and the Lenders hereunder against such U.S. Borrower in such proceeding to the maximum extent permitted by Applicable Insolvency Laws and neither such U.S. Borrower, any other U.S. Borrower, any Guarantor nor any other Person shall have any right or claim under such sentence that would not otherwise be available under Applicable Insolvency Laws in such proceeding.

Bankruptcy Limitations. Notwithstanding anything to the contrary contained in this Agreement, it is the intention of each U.S. Borrower, the Administrative Agent and the Revolving Credit Lenders that, in any proceeding involving the bankruptcy, reorganization, arrangement, adjustment of debts, relief of debtors, dissolution or insolvency or any similar proceeding with respect to any U.S. Borrower or its assets, the amount of such U.S. Borrower’s 's obligations with respect to the Bowater Guaranteed Obligations shall be equal to, but not in excess of, the maximum amount thereof not subject to avoidance or recovery by operation of Applicable Insolvency Laws after giving effect to Section 11.9(c2.7(c). To that end, but only in the event and to the extent that after giving effect to Section 11.9(c2.7(c), such U.S. Borrower’s 's obligations with respect to the Bowater Guaranteed Obligations or any payment made pursuant to such Bowater Guaranteed Obligations would, but for the operation of the first sentence of this Section 11.9(b2.7(b), be subject to avoidance or recovery in any such proceeding under Applicable Insolvency Laws after giving effect to Section 11.9(c2.7(c), the amount of such U.S. Borrower’s 's obligations with respect to the Bowater Guaranteed Obligations shall be limited to the largest amount which, after giving effect thereto, would not, under Applicable Insolvency Laws, render such U.S. Borrower’s 's obligations with respect to the Bowater Guaranteed Obligations unenforceable or avoidable or otherwise subject to recovery under Applicable Insolvency Laws. To the extent any payment actually made pursuant to the Bowater Guaranteed Obligations exceeds the limitation of the first sentence of this Section 11.9(b2.7(b) and is otherwise subject to avoidance and recovery in any such proceeding under Applicable Insolvency Laws, the amount subject to avoidance shall in all events be limited to the amount by which such actual payment exceeds such limitation and the Bowater Guaranteed Obligations as limited by the first sentence of this Section 11.9(b2.7(b) shall in all events remain in full force and effect and be fully enforceable against such U.S. Borrower. The first sentence of this Section 11.9(b2.7(b) is intended solely to preserve the rights of the Administrative Agent and the Lenders hereunder against such U.S. Borrower in such proceeding to the maximum extent permitted by Applicable Insolvency Laws and neither such U.S. Borrower, any other U.S. Borrower, any Guarantor Borrower nor any other Person shall have any right or claim under such sentence that would not otherwise be available under Applicable Insolvency Laws in such proceeding.