Common use of Limitation on Guaranty Clause in Contracts

Limitation on Guaranty. To the extent any performance of this Guaranty would violate any applicable usury statute or other applicable law, the obligation to be fulfilled shall be reduced to the limit legally permitted, so that this Guaranty shall not require any performance in excess of the limit legally permitted, but such obligation shall be fulfilled to the limit of legal validity. Nothing in this Guaranty shall be construed to authorize Agent to collect from any Guarantor any interest that has not yet accrued, is unearned or subject to rebate or is otherwise not entitled to be collected by Agent under applicable law. The provisions of this paragraph shall control every other provision of this Guaranty.

Appears in 3 contracts

Samples: Continuing Guaranty Agreement (Pinstripes Holdings, Inc.), Continuing Guaranty Agreement (Pinstripes Holdings, Inc.), Continuing Guaranty Agreement (Banyan Acquisition Corp)

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Limitation on Guaranty. To the extent any performance of this Guaranty would violate any applicable usury statute or other applicable lawApplicable Law, the obligation to be fulfilled shall be reduced to the limit legally permitted, so that this Guaranty shall not require any performance in excess of the limit legally permitted, but such obligation obligations shall be fulfilled to the limit of legal validity. Nothing in this Guaranty shall be construed to authorize Agent Guaranteed Parties to collect from any Guarantor Guarantors any interest that has not yet accrued, is unearned or subject to rebate or is otherwise not entitled to be collected by Agent Guaranteed Parties under applicable lawApplicable Law. The provisions of this paragraph shall control every other provision of this Guaranty.

Appears in 2 contracts

Samples: Continuing Guaranty Agreement (Superior Essex Inc), Continuing Guaranty Agreement (Superior Essex Inc)

Limitation on Guaranty. To the extent any performance of this Guaranty would violate any applicable usury statute or other applicable lawApplicable Law, the obligation to be fulfilled shall be reduced to the limit legally permitted, so that this Guaranty shall not require any performance in excess of the limit legally permitted, but such obligation obligations shall be fulfilled to the limit of legal validity. Nothing in this Guaranty shall be construed to authorize Agent Guaranteed Parties to collect from any the Guarantor any interest that has not yet accrued, is unearned or subject to rebate or is otherwise not entitled to be collected by Agent Guaranteed Parties under applicable lawApplicable Law. The provisions of this paragraph shall control every other provision of this Guaranty.

Appears in 2 contracts

Samples: Continuing Guaranty Agreement, Continuing Guaranty Agreement (Spectrum Brands, Inc.)

Limitation on Guaranty. To the extent any performance of this Guaranty would violate any applicable usury statute or other applicable law, the obligation to be fulfilled shall be reduced to the limit legally permitted, so that this Guaranty shall not require any performance in excess of the limit legally permitted, but such obligation obligations shall be fulfilled to the limit of legal validity. Nothing in this Guaranty shall be construed to authorize Agent the Guaranteed Parties to collect from any Guarantor any interest that has not yet accrued, is unearned or subject to rebate or is otherwise not entitled to be collected by Agent the Guaranteed Parties under applicable law. The provisions of this paragraph shall control every other provision of this Guaranty.

Appears in 1 contract

Samples: Loan and Security Agreement (Texas Market Tire, Inc.)

Limitation on Guaranty. To the extent any performance of this Guaranty would violate any applicable usury statute or other applicable lawApplicable Law, the obligation to be fulfilled shall be reduced to the limit legally permitted, so that this Guaranty shall not require any performance in excess of the limit legally permitted, but such obligation obligations shall be fulfilled to the limit of legal validity. Nothing in this Guaranty shall be construed to authorize Agent Guaranteed Parties to collect from any Immaterial Subsidiary Guarantor any interest that has not yet accrued, is unearned or subject to rebate or is otherwise not entitled to be collected by Agent Guaranteed Parties under applicable lawApplicable Law. The provisions of this paragraph shall control every other provision of this Guaranty.

Appears in 1 contract

Samples: Continuing Guaranty Agreement (Physician Sales & Service, Inc.)

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Limitation on Guaranty. To the extent any performance of this Guaranty would violate any applicable usury statute or other applicable law, the obligation to be fulfilled shall be reduced to the limit legally permitted, so that this Guaranty shall not require any performance in excess of the limit legally permitted, but such obligation obligations shall be fulfilled to the limit of legal validity. Nothing in this Guaranty shall be construed to authorize Agent Lender to collect from any Guarantor any interest that has not yet accrued, is unearned or subject to rebate or is otherwise not entitled to be collected by Agent Lender under applicable law. The provisions of this paragraph shall control every other provision of this Guaranty.

Appears in 1 contract

Samples: Form of Continuing Guaranty Agreement (Home Federal Holdings CORP)

Limitation on Guaranty. To the extent any performance of this Guaranty would violate any applicable usury statute or other applicable lawApplicable Law, the obligation to be fulfilled shall be reduced to the limit legally permitted, so that this Guaranty shall not require any performance in excess of the limit legally permitted, but such obligation obligations shall be fulfilled to the limit of legal validity. Nothing in this Guaranty shall be construed to authorize Agent Guaranteed Parties to collect from any Guarantor any interest that has not yet accrued, is unearned or subject to rebate or is otherwise not entitled to be collected by Agent Guaranteed Parties under applicable lawApplicable Law. The provisions of this paragraph shall control every other provision of this Guaranty.

Appears in 1 contract

Samples: Continuing Guaranty Agreement (Anchor Funding Services, Inc.)

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