Common use of OBLIGATIONS DEFINED Clause in Contracts

OBLIGATIONS DEFINED. The term "Obligations" is used throughout this Guaranty in its most comprehensive sense and means and includes, without limitation, any and all obligations and liabilities of any kind or nature owed by Borrower to Lender pursuant to the Security Agreement and any financial or other accommodations extended by Lender to Borrower, heretofore, now or hereafter made, incurred or created, whether voluntary or involuntary and however arising or evidenced, whether owed directly to Lender or acquired by Lender through assignment, subrogation or succession, whether due or not due, absolute or contingent, liquidated or unliquidated, determined or undetermined, secured or unsecured, whether on original, renewed, extended or revised terms, whether principal, interest or fees (including, but not limited to, those changing the applicable rate of interest or which release any obligor with respect to any Obligations, whether such indebtedness is from time to time reduced or extinguished and thereafter increased or incurred), whether Borrower may be individually or jointly liable with others, whether such obligations or any portion thereof becomes barred by any statute of limitations and whether such obligations may be or hereafter become unenforceable. If a petition under the U.S. Bankruptcy Code is filed by or against Borrower, the term "Borrower" shall also mean and include Borrower in its status as a "debtor" and "debtor-in-possession" under the U.S. Bankruptcy Code.