Common use of Maximum Guaranteed Amount Clause in Contracts

Maximum Guaranteed Amount. Notwithstanding any other provision of this Agreement to the contrary, if the obligations of any Grantor hereunder would otherwise be held or determined by a court of competent jurisdiction in any action or proceeding involving any state corporate or similar Law or any Debtor Relief Law, fraudulent conveyance or other Laws affecting the rights of creditors generally, to be void, invalid or unenforceable to any extent on account of the amount of such Grantor’s liability under this Agreement, then notwithstanding any other provision of this Agreement to the contrary, the amount of liability shall, without any further action by any Grantor or any other Person, be automatically limited and reduced to the highest amount which is valid and enforceable as determined in any such action or proceeding.