Common use of Liability for Certain Obligations Clause in Contracts

Liability for Certain Obligations. Fleming’s Principals and Outback covenant and agree that as to any guaranty of any debt, liability, or obligation of the Company, including, without limitation, material long-term obligations, such as liability as lessee under leases for Restaurant premises and liability on loans (collectively “Obligations”), Fleming’s Principals and Outback’s parent company, OSI, shall guarantee such Obligations if required by the third party creditor; provided however, Fleming’s Principals and OSI shall each be proportionately liable to any third party creditor for only up to the percentage of the outstanding balance under such Obligations as is equal to the applicable affiliated Member’s Percentage Interest in the Company at the time in question, and shall not be jointly and severally liable therefor.