Common use of Limitation on Guarantor Liability Clause in Contracts

Limitation on Guarantor Liability. For purposes hereof, the Guarantor's liability will be that amount from time to time equal to the aggregate liability of the Guarantor hereunder, but shall be limited to the lesser of (i) the aggregate amount of the Obligations of the Company under the Securities and the Indenture and (ii) the amount, if any, which would not have (A) rendered the Guarantor "insolvent" (as such term is defined in the federal Bankruptcy Law and in the Debtor and Creditor Law of the State of New York) or (B) left it with unreasonably small capital at the time its Guarantee of the Securities was entered into, after giving effect to the incurrence of existing Indebtedness immediately prior to such time; PROVIDED that it shall be a presumption in any lawsuit or other proceeding in which the Guarantor is a party that the amount guaranteed pursuant to its Guarantee is the amount set forth in clause (i) above unless any creditor, or representative of creditors of the Guarantor, or debtor in possession or trustee in bankruptcy of the Guarantor, otherwise proves in such a lawsuit that the aggregate liability of the Guarantor is limited to the amount set forth in clause (ii). In making any determination as to the solvency or sufficiency of capital of the Guarantor in accordance with the previous sentence, the right of the Guarantor to contribution from other Subsidiaries of the Company that have executed and delivered a supplemental indenture substantially in the form hereof and any other rights the Guarantor may have, contractual or otherwise, shall be taken into account.

Appears in 10 contracts

Samples: Supplemental Indenture (Tenet Healthcare Corp), Supplemental Indenture (Tenet Healthcare Corp), Supplemental Indenture (Tenet Healthcare Corp)

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Limitation on Guarantor Liability. For (a) Each Guarantor, and by its acceptance of Notes, each holder, hereby confirms that it is the intention of all such parties that the Guarantee of such Guarantor not constitute a fraudulent transfer or conveyance for purposes hereofof Bankruptcy Law, the Uniform Fraudulent Conveyance Act, the Uniform Fraudulent Transfer Act or any similar federal or state law to the extent applicable to any guarantee. To effectuate the foregoing intention, the Trustee, the holders and the Guarantors hereby irrevocably agree that each Guarantor's ’s liability will shall be that amount from time to time equal to the aggregate liability of such Guarantor under the Guarantor hereunderguarantee, but shall be limited to the lesser of (ia) the aggregate amount of the Obligations of the Company Company’s obligations under the Securities Notes and the this Indenture and or (iib) the amount, if any, which would not have (A1) rendered the Guarantor "insolvent" (as such term is defined in the federal Bankruptcy Law and in the Debtor and Creditor Law of the State of New York) or (B2) left it with unreasonably small capital at the time its Guarantee of guarantee with respect to the Securities Notes was entered into, after giving effect to the incurrence of existing Indebtedness Debt immediately prior to before such time; PROVIDED that provided, however, it shall be a presumption in any lawsuit or other proceeding in which the a Guarantor is a party that the amount guaranteed pursuant to its Guarantee the guarantee with respect to the Notes is the amount set forth described in clause (ia) above unless any creditor, or representative of creditors of the Guarantor, or debtor in possession or trustee in bankruptcy of the Guarantor, otherwise proves in such a lawsuit that the aggregate liability of the Guarantor is limited to the amount set forth described in clause (iib). In making any determination as to the solvency or sufficiency of capital of the Guarantor in accordance with the previous sentence, the right of the Guarantor to contribution from other Subsidiaries of the Company that have executed and delivered a supplemental indenture substantially in the form hereof and any other rights the Guarantor may have, contractual or otherwise, shall be taken into account.

Appears in 5 contracts

Samples: Satisfaction and Discharge of Indenture (China Security & Surveillance Technology, Inc.), Indenture (Fushi International Inc), China Security & Surveillance Technology, Inc.

Limitation on Guarantor Liability. For purposes hereof, the each Guarantor's liability will be that amount from time to time equal to the aggregate liability of the Guarantor hereunder, but shall be limited to the lesser of (ia) the aggregate amount of the Obligations of the Company under the Securities Notes and the Indenture this Indenture, and (iib) the amount, if any, which would not have (Ai) rendered the such Guarantor "insolvent" (as such term is defined in the federal Bankruptcy Law and in the Debtor and Creditor Law of the State of New York) Law), or (Bii) left it such Guarantor with unreasonably small capital at the time its Guarantee of the Securities Agreement was entered into; provided, after giving effect to the incurrence of existing Indebtedness immediately prior to such time; PROVIDED that however, that, it shall will be a presumption in any lawsuit or other proceeding in which the a Guarantor is a party that the amount guaranteed pursuant to its the Guarantee Agreement is the amount set forth in clause (ia) above unless any creditor, or representative of creditors of the such Guarantor, or debtor in possession or trustee in bankruptcy of the Guarantor, otherwise proves in such a lawsuit that the aggregate liability of the Guarantor is limited to the amount set forth in clause (ii)b) above. Each Guarantor and by its acceptance hereof each Holder hereby confirms that it is the intention of all such parties that the guarantee by such Guarantor pursuant to its Guarantee Agreement not constitute a fraudulent transfer or conveyance for purposes of any federal or state law. In making any determination as to the solvency or sufficiency of capital of the a Guarantor in accordance with the previous sentence, the right of the such Guarantor to contribution from other Subsidiaries of the Company that have executed and delivered a supplemental indenture substantially in the form hereof Guarantors, and any other rights the such Guarantor may have, contractual or otherwise, shall be taken into account.

Appears in 4 contracts

Samples: Wheeling Pittsburgh Corp /De/, Wheeling Pittsburgh Corp /De/, Wheeling Pittsburgh Steel Corp /De

Limitation on Guarantor Liability. For purposes hereof, the each Guarantor's ’s liability will shall be that amount from time to time equal to the aggregate liability of the such Guarantor hereunderunder its Note Guarantee, but shall be limited to the lesser of (ia) the aggregate amount of the Obligations obligations of the Company under the Securities and the Indenture Documents and (iib) the amount, if any, which would not have (A) rendered the such Guarantor "insolvent" (as such term is defined in the federal Bankruptcy Law and in the Debtor and Creditor Law of the State of New York) or ), (B) left it with unreasonably small capital at the time its Note Guarantee of the Securities was entered into, or at the time such Guarantor Incurred liability thereunder, after giving effect to the incurrence Incurrence of existing Existing Indebtedness immediately prior to such timetime or (C) left such Guarantor with debts beyond such Guarantor’s ability to pay as such debts mature; PROVIDED that provided that, it shall be a presumption in any lawsuit or other proceeding in which the such Guarantor is a party that the amount guaranteed Guaranteed pursuant to its Note Guarantee is the amount set forth in clause subsection (ia) above unless any creditor, or representative of creditors of the such Guarantor, or debtor in possession or trustee in bankruptcy of the such Guarantor, otherwise proves in such a lawsuit or other proceeding that the aggregate liability of the such Guarantor is limited to the amount set forth in clause subsection (iib). In making any determination as to the solvency or sufficiency of capital of the a Guarantor in accordance with the previous sentence, the right of the such Guarantor to contribution from other Subsidiaries of the Company that have executed and delivered a supplemental indenture substantially in the form hereof Guarantors and any other rights the such Guarantor may have, contractual or otherwise, shall be taken into account.

Appears in 3 contracts

Samples: Intercreditor Agreement (Stonemor Inc.), Indenture (TitleMax of Virginia, Inc.), Intercreditor Agreement (Thermon Holding Corp.)

Limitation on Guarantor Liability. For (a) Each Guarantor, and by its acceptance of Notes, each holder, hereby confirms that it is the intention of all such parties that the Guarantee of such Guarantor not constitute a fraudulent transfer or conveyance for purposes hereofof Bankruptcy Law, the Uniform Fraudulent Conveyance Act, the Uniform Fraudulent Transfer Act or any similar federal or state law to the extent applicable to any guarantee. To effectuate the foregoing intention, the Trustee, the holders and the Guarantors hereby irrevocably agree that each Guarantor's liability will shall be that amount from time to time equal to the aggregate liability of such Guarantor under the Guarantor hereunderguarantee, but shall be limited to the lesser of (ia) the aggregate amount of the Obligations of the Company Company's obligations under the Securities Notes and the this Indenture and or (iib) the amount, if any, which would not have (A1) rendered the Guarantor "insolvent" (as such term is defined in the federal Bankruptcy Law and in the Debtor and Creditor Law of the State of New York) or (B2) left it with unreasonably small capital at the time its Guarantee of guarantee with respect to the Securities Notes was entered into, after giving effect to the incurrence of existing Indebtedness Debt immediately prior to before such time; PROVIDED that provided, however, it shall be a presumption in any lawsuit or other proceeding in which the a Guarantor is a party that the amount guaranteed pursuant to its Guarantee the guarantee with respect to the Notes is the amount set forth described in clause (ia) above unless any creditor, or representative of creditors of the Guarantor, or debtor in possession or trustee in bankruptcy of the Guarantor, otherwise proves in such a lawsuit that the aggregate liability of the Guarantor is limited to the amount set forth described in clause (iib). In making any determination as to the solvency or sufficiency of capital of the Guarantor in accordance with the previous sentence, the right of the Guarantor to contribution from other Subsidiaries of the Company that have executed and delivered a supplemental indenture substantially in the form hereof and any other rights the Guarantor may have, contractual or otherwise, shall be taken into account.

Appears in 3 contracts

Samples: Notes Purchase Agreement (China Security & Surveillance Technology, Inc.), China Security & Surveillance Technology, Inc., China Security & Surveillance Technology, Inc.

Limitation on Guarantor Liability. For purposes hereof, the each Guarantor's ’s liability will shall be that amount from time to time equal to the aggregate liability of the such Guarantor hereunderunder its Note Guarantee, but shall be limited to the lesser of (ia) the aggregate amount of the Obligations of the Company under the Securities and the Indenture Documents and (iib) the amount, if any, which would not have (A) rendered the such Guarantor "insolvent" (as such term is defined in the federal Bankruptcy Law and in the Debtor and Creditor Law of the State of New York) or ), (B) left it with unreasonably small capital at the time its Note Guarantee of the Securities was entered into, or at the time such Guarantor incurred liability thereunder, after giving effect to the incurrence of existing Indebtedness immediately prior to such timetime or (C) left such Guarantor with debts beyond such Guarantor’s ability to pay as such debts mature; PROVIDED that provided that, it shall be a presumption in any lawsuit or other proceeding in which the such Guarantor is a party that the amount guaranteed Guaranteed pursuant to its Note Guarantee is the amount set forth in clause subsection (ia) above unless any creditor, or representative of creditors of the such Guarantor, or debtor in possession or trustee in bankruptcy of the such Guarantor, otherwise proves in such a lawsuit or other proceeding that the aggregate liability of the such Guarantor is limited to the amount set forth in clause subsection (ii)b) above. In making any determination as to the solvency or sufficiency of capital of the a Guarantor in accordance with the previous sentence, the right of the such Guarantor to contribution from other Subsidiaries of the Company that have executed and delivered a supplemental indenture substantially in the form hereof Guarantors and any other rights the such Guarantor may have, contractual or otherwise, shall be taken into account.

Appears in 2 contracts

Samples: Supplemental Indenture (Bloom Energy Corp), Supplemental Indenture (Bloom Energy Corp)

Limitation on Guarantor Liability. For purposes hereof, the each Guarantor's liability will shall be that amount from time to time equal to the aggregate liability of the such Guarantor hereunderthereunder, but shall be limited to the lesser of (i) the aggregate amount of the Obligations of the Company under the Securities and the this Indenture and (ii) the amount, if any, which would not have (A) rendered the such Guarantor "insolvent" (as such term is defined in the federal Bankruptcy Law and in the Debtor debtor and Creditor Law creditor law of the State of New York) or (B) left it with unreasonably small capital at the time its Subsidiary Guarantee of the Securities was entered into, after giving effect to the incurrence of existing Indebtedness immediately prior to such time; PROVIDED that provided that, it shall be a presumption in any lawsuit or other proceeding in which the such Guarantor is a party that the amount guaranteed pursuant to its Subsidiary Guarantee is the amount set forth in clause (i) above unless any creditor, or representative of creditors of the such Guarantor, or debtor in possession or trustee in bankruptcy of the such Guarantor, otherwise proves in such a lawsuit that the aggregate liability of the such Guarantor is limited to the amount set forth in clause (ii). In making any determination as to the solvency or sufficiency of capital of the a Guarantor in accordance with the previous sentence, the right of the such Guarantor to contribution from other Subsidiaries of the Company that have executed and delivered a supplemental indenture substantially in the form hereof Guarantors and any other rights the such Guarantor may have, contractual or otherwise, shall be taken into account.

Appears in 2 contracts

Samples: Indenture (Americredit Corp), Indenture (Americredit Financial Services of Canada LTD)

Limitation on Guarantor Liability. For purposes hereof, the each Guarantor's liability will shall be that amount from time to time equal to the aggregate liability of the such Guarantor hereunderthereunder, but shall be limited to the lesser of (i) the aggregate amount of the Obligations of the Company under the Securities Notes and the this Indenture and (ii) the amount, if any, which would not have (A) rendered the such Guarantor "insolvent" (as such term is defined in the federal Bankruptcy Law and in the Debtor and Creditor Law of the State of New York) or (B) left it with unreasonably small capital at the time its Subsidiary Guarantee of the Securities Notes was entered into, after giving effect to the incurrence of existing Indebtedness immediately prior to such time; PROVIDED that provided that, it shall be a presumption in any lawsuit or other proceeding in which the such Guarantor is a party that the amount guaranteed pursuant to its Subsidiary Guarantee is the amount set forth in clause (i) above unless any creditor, or representative of creditors of the such Guarantor, or debtor in possession or trustee in bankruptcy of the such Guarantor, otherwise proves in such a lawsuit that the aggregate liability of the such Guarantor is limited to the amount set forth in clause (ii). In making any determination as to the solvency or sufficiency of capital of the a Guarantor in accordance with the previous sentence, the right of the such Guarantor to contribution from other Subsidiaries of the Company that have executed and delivered a supplemental indenture substantially in the form hereof Guarantors and any other rights the such Guarantor may have, contractual or otherwise, shall be taken into account.

Appears in 2 contracts

Samples: Forcenergy Inc, Forcenergy Inc

Limitation on Guarantor Liability. For purposes hereof, the Guarantor's liability will be that amount from time to time equal to the aggregate liability of the Guarantor hereunder, but shall be limited to the lesser of (i) the aggregate amount of the Obligations of the Company under the Securities and the Indenture and (ii) the amount, if any, which would not have (Aa) rendered the Guarantor "insolvent" (as such term is defined in the federal Bankruptcy Law and in the Debtor and Creditor Law of the State of New York) or (Bb) left it with unreasonably small capital at the time its Guarantee of the Securities was entered into, after giving effect to the incurrence of existing Indebtedness immediately prior to such time; PROVIDED that it shall be a presumption in any lawsuit or other proceeding in which the Guarantor is a party that the amount guaranteed pursuant to its Guarantee is the amount set forth in clause (i) above unless any creditor, or representative of creditors of the Guarantor, or debtor in possession or trustee in bankruptcy of the Guarantor, otherwise proves in such a lawsuit that the aggregate liability of the Guarantor is limited to the amount set forth in clause (ii). In making any determination as to the solvency or sufficiency of capital of the Guarantor in accordance with the previous sentence, the right of the Guarantor to contribution from other Subsidiaries of the Company that have executed and delivered a supplemental indenture substantially in the form hereof and any other rights the Guarantor may have, contractual or otherwise, shall be taken into account.

Appears in 2 contracts

Samples: Indenture (Tenet Healthcare Corp), Indenture (Tenet Healthcare Corp)

Limitation on Guarantor Liability. For purposes hereof, the each Guarantor's liability will be that amount from time to time equal to the aggregate liability of the Guarantor hereunder, but shall be limited to the lesser of (ia) the aggregate amount of the Obligations of the Company under the Securities Notes and the Indenture this Indenture, and (iib) the amount, if any, which would not have (Ai) rendered the such Guarantor "insolvent" (as such term is defined in the federal Bankruptcy Law and in the Debtor and Creditor Law of the State of New York) Law), or (Bii) left it such Guarantor with unreasonably small capital at the time its Subsidiary Guarantee of the Securities was entered into; provided, after giving effect to the incurrence of existing Indebtedness immediately prior to such time; PROVIDED that however, that, it shall will be a presumption in any lawsuit or other proceeding in which the a Guarantor is a party that the amount guaranteed pursuant to its the Subsidiary Guarantee is the amount set forth in clause (ia) above unless any creditor, or representative of creditors of the such Guarantor, or debtor in possession or trustee in bankruptcy of the Guarantor, otherwise proves in such a lawsuit that the aggregate liability of the Guarantor is limited to the amount set forth in clause (ii)b) above. Each Guarantor and by its acceptance hereof each Holder hereby confirms that it is the intention of all such parties that the guarantee by such Guarantor pursuant to its Subsidiary Guarantee not constitute a fraudulent transfer or conveyance for purposes of any federal or state law. In making any determination as to the solvency or sufficiency of capital of the a Guarantor in accordance with the previous sentence, the right of the such Guarantor to contribution from other Subsidiaries of the Company that have executed and delivered a supplemental indenture substantially in the form hereof Guarantors, and any other rights the such Guarantor may have, contractual or otherwise, shall be taken into account.

Appears in 2 contracts

Samples: Indenture (Wheeling Pittsburgh Steel Corp /De), Wheeling Pittsburgh Steel Corp /De

Limitation on Guarantor Liability. For purposes hereof, the each Guarantor's ’s liability will shall be that amount from time to time equal to the aggregate liability of the such Guarantor hereunderunder its Note Guarantee, but shall be limited to the lesser of (ia) the aggregate amount of the Obligations of the Company under the Securities and the Indenture Documents and (iib) the amount, if any, which would not have (A) rendered the such Guarantor "insolvent" (as such term is defined in the federal Bankruptcy Law and in the Debtor and Creditor Law of the State of New York) or ), (B) left it with unreasonably small capital at the time its Note Guarantee of the Securities was entered into, or at the time such Guarantor incurred liability thereunder, after giving effect to the incurrence of existing Indebtedness immediately prior to such timetime or (C) left such Guarantor with debts beyond such Guarantor’s ability to pay as such debts mature; PROVIDED provided, that it shall be a presumption in any lawsuit or other proceeding in which the such Guarantor is a party that the amount guaranteed Guaranteed pursuant to its Note Guarantee is the amount set forth in clause subsection (ia) above unless any creditor, or representative of creditors of the such Guarantor, or debtor in possession or trustee in bankruptcy of the such Guarantor, otherwise proves in such a lawsuit or other proceeding that the aggregate liability of the such Guarantor is limited to the amount set forth in clause subsection (ii)b) above. In making any determination as to the solvency or sufficiency of capital of the a Guarantor in accordance with the previous sentence, the right of the such Guarantor to contribution from other Subsidiaries of the Company that have executed and delivered a supplemental indenture substantially in the form hereof Guarantors and any other rights the such Guarantor may have, contractual or otherwise, shall be taken into account.

Appears in 1 contract

Samples: Security Agreement (Bloom Energy Corp)

Limitation on Guarantor Liability. For purposes hereof, the each Guarantor's liability will shall be that amount from time to time equal to the aggregate liability of the such Guarantor hereunderthereunder, but shall be limited to the lesser of (i) the aggregate amount of the Obligations of the Company under the Securities Notes and the this Indenture and (ii) the amount, if any, which would not have (A) rendered the such Guarantor "insolvent" (as such term is defined in the federal Bankruptcy Law and in the Debtor debtor and Creditor Law creditor law of the State of New York) or (B) left it with unreasonably small capital at the time its Subsidiary Guarantee of the Securities was entered into, after giving effect to the incurrence of existing Indebtedness immediately prior to such time; PROVIDED provided, that it shall be a presumption in any lawsuit or other proceeding in which the such Guarantor is a party that the amount guaranteed pursuant to its Subsidiary Guarantee is the amount set forth in clause (i) above unless any creditor, or representative of creditors of the such Guarantor, or debtor in possession or trustee in bankruptcy of the such Guarantor, otherwise proves in such a lawsuit that the aggregate liability of the such Guarantor is limited to the amount set forth in clause (ii). In making any determination as to the solvency or sufficiency of capital of the a Guarantor in accordance with the previous sentence, the right of the such Guarantor to contribution from other Subsidiaries of the Company that have executed and delivered a supplemental indenture substantially in the form hereof Guarantors and any other rights the such Guarantor may have, contractual or otherwise, shall be taken into account.. Section 10.06. "

Appears in 1 contract

Samples: Delta Woodside Industries Inc /Sc/

Limitation on Guarantor Liability. For purposes hereof, the each Guarantor's liability will shall be that amount from time to time equal to the aggregate liability of the such Guarantor hereunderthereunder, but shall be limited to the lesser of (i) the aggregate amount of the Obligations of the Company under the Securities Notes and the this Indenture and (ii) the amount, if any, which would not have (A) rendered the such Guarantor "insolvent" (as such term is defined in the federal Bankruptcy Law and in the Debtor debtor and Creditor Law creditor law of the State of New York) or (B) left it with unreasonably small capital at the time its Subsidiary Guarantee of the Securities was entered into, after giving effect to the incurrence of existing Indebtedness immediately prior to such time; PROVIDED that provided that, it shall be a presumption in any lawsuit or other proceeding in which the such Guarantor is a party that the amount guaranteed pursuant to its Subsidiary Guarantee is the amount set forth in clause (i) above unless any creditor, or representative of creditors of the such Guarantor, or debtor in possession or trustee in bankruptcy of the such Guarantor, otherwise proves in such a lawsuit that the aggregate liability of the such Guarantor is limited to the amount set forth in clause (ii). In making any determination as to the solvency or sufficiency of capital of the a Guarantor in accordance with the previous sentence, the right of the such Guarantor to contribution from other Subsidiaries of the Company that have executed and delivered a supplemental indenture substantially in the form hereof Guarantors and any other rights the such Guarantor may have, contractual or otherwise, shall be taken into account.

Appears in 1 contract

Samples: Indenture (Americredit Corp)

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Limitation on Guarantor Liability. For purposes hereof, the each Guarantor's liability will shall be that amount from time to time equal to the aggregate liability of the such Guarantor hereunderthereunder, but shall be limited to the lesser of (i) the aggregate amount of the Obligations of the Company under the Securities Notes and the this Indenture and (ii) the amount, if any, which would not have (A) rendered the such Guarantor "insolvent" (as such term is defined in the federal Bankruptcy Law Code and in the Debtor and Creditor Law of the State of New York) or (B) left it with unreasonably small capital at the time its Subsidiary Guarantee of the Securities was entered into, after giving effect to the incurrence of existing Indebtedness immediately prior to such time; PROVIDED that provided that, it shall be a presumption in any lawsuit or other proceeding in which the such Guarantor is a party that the amount guaranteed pursuant to its Subsidiary Guarantee is the amount set forth in clause (i) above unless any creditor, or representative of creditors of the such Guarantor, or debtor in possession or trustee in bankruptcy of the such Guarantor, otherwise proves in such a lawsuit that the aggregate liability of the such Guarantor is limited to the amount set forth in clause (ii). In making any determination as to the solvency or sufficiency of capital of the a Guarantor in accordance with the previous sentence, the right of the such Guarantor to contribution from other Subsidiaries of the Company that have executed and delivered a supplemental indenture substantially in the form hereof Guarantors and any other rights the such Guarantor may have, contractual or otherwise, shall be taken into account.

Appears in 1 contract

Samples: Indenture (Metal Management Inc)

Limitation on Guarantor Liability. For purposes hereof, the each Guarantor's ’s liability will shall be that amount from time to time equal to the aggregate liability of the such Guarantor hereunderthereunder, but shall be limited to the lesser of (i) the aggregate amount of the Obligations of the Company under the Securities Notes and the this Indenture and (ii) the amount, if any, which would not have (A) rendered the such Guarantor "insolvent" (as such term is defined in the federal Bankruptcy Law and in the Debtor debtor and Creditor Law creditor law of the State of New York) or (B) left it with unreasonably small capital at the time its Subsidiary Guarantee of the Securities was entered into, after giving effect to the incurrence of existing Indebtedness immediately prior to such time; PROVIDED that provided that, it shall be a presumption in any lawsuit or other proceeding in which the such Guarantor is a party that the amount guaranteed pursuant to its Subsidiary Guarantee is the amount set forth in clause (i) above unless any creditor, or representative of creditors of the such Guarantor, or debtor in possession or trustee in bankruptcy of the such Guarantor, otherwise proves in such a lawsuit that the aggregate liability of the such Guarantor is limited to the amount set forth in clause (ii). In making any determination as to the solvency or sufficiency of capital of the a Guarantor in accordance with the previous sentence, the right of the such Guarantor to contribution from other Subsidiaries of the Company that have executed and delivered a supplemental indenture substantially in the form hereof Guarantors and any other rights the such Guarantor may have, contractual or otherwise, shall be taken into account.

Appears in 1 contract

Samples: Americredit Corp

Limitation on Guarantor Liability. For purposes hereof, the Guarantor's ’s liability will shall be that amount from time to time equal to the aggregate liability of the Guarantor hereunderthereunder, but shall be limited to the lesser of (i) the aggregate amount of the Obligations of the Company under the Securities Notes and the this Indenture and (ii) the amount, if any, which would not have (A) rendered the Guarantor "insolvent" (as such term is defined in the federal Bankruptcy Law and in the Debtor debtor and Creditor Law creditor law of the State of New York) or (B) left it with unreasonably small capital at the time its Subsidiary Guarantee of the Securities was entered into, after giving effect to the incurrence of existing Indebtedness immediately prior to such time; PROVIDED that provided that, it shall be a presumption in any lawsuit or other proceeding in which the Guarantor is a party that the amount guaranteed pursuant to its Subsidiary Guarantee is the amount set forth in clause (i) above unless any creditor, or representative of creditors of the Guarantor, or debtor in possession or trustee in bankruptcy of the Guarantor, otherwise proves in such a lawsuit that the aggregate liability of the Guarantor is limited to the amount set forth in clause (ii). In making any determination as to the solvency or sufficiency of capital of the a Guarantor in accordance with the previous sentence, the right of the such Guarantor to contribution from other Subsidiaries of the Company that have executed and delivered Guarantors (if any Restricted Subsidiary executes a supplemental indenture substantially in the form hereof Subsidiary Guarantee pursuant to Section 4.08) and any other rights the such Guarantor may have, contractual or otherwise, shall be taken take into account.

Appears in 1 contract

Samples: Indenture (General Motors Financial Company, Inc.)

Limitation on Guarantor Liability. For purposes hereof, the Guarantor's liability will be that amount from time to time equal to the aggregate liability of the Guarantor hereunder, but shall be limited to the lesser of (i) the aggregate amount of the Obligations of the Company under the Securities and the Indenture and (ii) the amount, if any, which would not have (A) rendered the Guarantor "insolvent" (as such term is defined in the federal Bankruptcy Law and in the Debtor and Creditor Law of the State of New York) or (B) left it with unreasonably small capital at the time its Guarantee of the Securities was entered into, after giving effect to the incurrence of existing Indebtedness immediately prior to such time; PROVIDED that it shall be a presumption in any lawsuit or other proceeding in which the Guarantor is a party that the amount guaranteed pursuant to its Guarantee is the amount set forth in clause (i) above unless any creditor, or representative of creditors of the Guarantor, or debtor in possession or of trustee in bankruptcy of the Guarantor, otherwise proves in such a lawsuit that the aggregate liability of the Guarantor is limited to the amount set forth in clause (ii). In making any determination as to the solvency or sufficiency of capital of the Guarantor in accordance with the previous sentence, the right of the Guarantor to contribution from other Subsidiaries of the Company that have executed and delivered a supplemental indenture substantially in the form hereof and any other rights the Guarantor may have, contractual or otherwise, shall be taken into account.

Appears in 1 contract

Samples: Supplemental Indenture (Tenet Healthcare Corp)

Limitation on Guarantor Liability. For purposes hereof, the each Guarantor's ’s liability will shall be that amount from time to time equal to the aggregate liability of the such Guarantor hereunderunder its Note Guarantee, but shall be limited to the lesser of (ia) the aggregate amount of the Obligations obligations of the Company under the Securities and the Indenture Documents and (iib) the amount, if any, which would not have (A) rendered the such Guarantor "insolvent" (as such term is defined in the federal Bankruptcy Law and in the Debtor and Creditor Law of the State of New York) or ), (B) left it with unreasonably small capital at the time its Note Guarantee of the Securities was entered into, or at the 109 time such Guarantor Incurred liability thereunder, after giving effect to the incurrence Incurrence of existing Existing Indebtedness immediately prior to such timetime or (C) left such Guarantor with debts beyond such Guarantor’s ability to pay as such debts mature; PROVIDED that provided that, it shall be a presumption in any lawsuit or other proceeding in which the such Guarantor is a party that the amount guaranteed Guaranteed pursuant to its Note Guarantee is the amount set forth in clause subsection (ia) above unless any creditor, or representative of creditors of the such Guarantor, or debtor in possession or trustee in bankruptcy of the such Guarantor, otherwise proves in such a lawsuit or other proceeding that the aggregate liability of the such Guarantor is limited to the amount set forth in clause subsection (ii)b) above. In making any determination as to the solvency or sufficiency of capital of the a Guarantor in accordance with the previous sentence, the right of the such Guarantor to contribution from other Subsidiaries of the Company that have executed and delivered a supplemental indenture substantially in the form hereof Guarantors and any other rights the such Guarantor may have, contractual or otherwise, shall be taken into account.

Appears in 1 contract

Samples: Supplemental Indenture (Affinity Guest Services, LLC)

Limitation on Guarantor Liability. For purposes hereof, the each Guarantor's liability will shall be that amount from time to time equal to the aggregate liability of the such Guarantor hereunderthereunder, but shall be limited to the lesser of (i) the aggregate amount of the Obligations of the Company under the Securities Notes and the this Indenture and (ii) the amount, if any, which would not have (A) rendered the such Guarantor "insolvent" (as such term is defined in the federal Bankruptcy Law and in the Debtor debtor and Creditor Law creditor law of the State of New York) or (B) left it with unreasonably small capital at the time its Subsidiary Guarantee of the Securities was entered into, after giving effect to the incurrence of existing Indebtedness immediately prior to such time; PROVIDED provided, that it shall be a presumption in any lawsuit or other proceeding in which the such Guarantor is a party that the amount guaranteed pursuant to its Subsidiary Guarantee is the amount set forth in clause (i) above unless any creditor, or representative of creditors of the such Guarantor, or debtor in possession or trustee in bankruptcy of the such Guarantor, otherwise proves in such a lawsuit that the aggregate liability of the such Guarantor is limited to the amount set forth in clause (ii). In making any determination as to the solvency or sufficiency of capital of the a Guarantor in accordance with the previous sentence, the right of the such Guarantor to contribution from other Subsidiaries of the Company that have executed and delivered a supplemental indenture substantially in the form hereof Guarantors and any other rights the such Guarantor may have, contractual or otherwise, shall be taken into account.

Appears in 1 contract

Samples: Indenture (Delta Mills Inc)

Limitation on Guarantor Liability. For purposes hereofof this Article 11 and any Subsidiary Guarantee, the each Guarantor's liability will be that amount from time to time equal to the aggregate liability of the such Guarantor hereunderhereunder and thereunder, but shall be limited to the lesser least of (i) the aggregate amount of the Obligations obligations of the Company under the Securities Notes and the this Indenture and or (ii) the amount, if any, which would not have (A) rendered the such Guarantor "insolvent" (as such term is defined in the federal Bankruptcy Law Code and in the Debtor and Creditor Law of the State of New York) or (B) left it with unreasonably small capital at the time its Subsidiary Guarantee of the Securities was entered into, after giving effect to the incurrence of existing Indebtedness immediately prior to such time; PROVIDED that provided that, it shall be a presumption in any lawsuit or other proceeding in which the a Guarantor is a party that the amount guaranteed pursuant to its the Subsidiary Guarantee is the amount set forth in clause (i) above unless any creditor, or representative of creditors of the Guarantorsuch guarantor, or debtor in possession or trustee in bankruptcy of the Guarantor, otherwise proves in such a lawsuit that the aggregate liability of the Guarantor is limited to the amount set forth in clause (ii). In making any determination as to the solvency or sufficiency of capital of the a Guarantor in accordance with the previous sentence, the right of the such Guarantor to contribution from other Subsidiaries of the Company that have executed and delivered a supplemental indenture substantially in the form hereof Guarantors and any other rights the such Guarantor may have, contractual or otherwise, shall be taken into account.

Appears in 1 contract

Samples: Indenture (Prime Hospitality Corp)

Limitation on Guarantor Liability. For purposes hereof, the each Guarantor's liability will shall be that amount from time to time equal to the aggregate liability of the such Guarantor hereunderthereunder, but shall be limited to the lesser of (i) the aggregate amount of the Obligations of the Company under the Securities Notes and the this Indenture and (ii) the amount, if any, which would not have (A) rendered the such Guarantor "insolvent" (as such term is defined in the federal Bankruptcy Law and in the Debtor and Creditor Law of the State of New York) or (B) left it with unreasonably small capital at the time its Subsidiary Guarantee of the Securities was entered into, after giving effect to the incurrence of existing Indebtedness immediately prior to such time; PROVIDED that provided that, it shall be a presumption in any lawsuit or other proceeding in which the such Guarantor is a party that the amount guaranteed pursuant to its Subsidiary Guarantee is the amount set forth in clause (i) above unless any creditor, or representative of creditors of the such Guarantor, or debtor in possession or trustee in bankruptcy of the such Guarantor, otherwise proves in such a lawsuit that the aggregate liability of the such Guarantor is limited to the amount set forth in clause (ii). In making any determination as to the solvency or sufficiency of capital of the a Guarantor in accordance with the previous sentence, the right of the such Guarantor to contribution from other Subsidiaries of the Company that have executed and delivered a supplemental indenture substantially in the form hereof and any other rights the Guarantor may have, contractual or otherwise, shall be taken into account.to

Appears in 1 contract

Samples: Security Agreement (Metal Management Inc)

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