Common use of Net Worth Limitation Clause in Contracts

Net Worth Limitation. Notwithstanding any other provision of this Indenture or the Notes, the Guarantee shall not be enforceable against any Subsidiary Guarantor in an amount in excess of the net worth of such Subsidiary Guarantor at the time that determination of such net worth is, under applicable law, relevant to the enforceability of such Guarantee. The Subsidiary Guarantor's net worth shall include any claim of the Subsidiary Guarantor against the Company or any other Guarantor (including the Parent Guarantor) for reimbursement and any claim against any other Guarantor (including the Parent Guarantor) for contribution. ARTICLE ELEVEN

Appears in 6 contracts

Samples: Loral Cyberstar (Loral Cyberstar Inc), Indenture (Loral Space & Communications LTD), Loral Cyberstar (Loral Space & Communications LTD)

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