Contingent Obligation

Contingent Obligation. Is, for any Person, any direct or indirect liability, contingent or not, of that Person for (i) any indebtedness, lease, dividend, letter of credit or other obligation of another such as an obligation directly or indirectly guaranteed, endorsed, co-made, discounted or sold with recourse by that Person, or for which that Person is directly or indirectly liable; (ii) any obligations for undrawn letters of credit for the account of that Person; (iii) all reserves for future investments and (iii) reserves for future expenses, including management fees; and (iv) all obligations from any interest rate, currency or commodity swap agreement, interest rate cap or collar agreement, or other agreement or arrangement designated to protect a Person against fluctuation in interest rates, currency exchange rates or commodity prices; but "Contingent Obligation" does not include endorsements in the ordinary course of business. The amount of a Contingent Obligation is the stated or determined amount of the primary obligation for which the Contingent Obligation is made or, if not determinable, the maximum reasonably anticipated liability for it determined by the Person in good faith; but the amount may not exceed the maximum of the obligations under the guarantee or other support arrangement. View More

Contingent Obligation. Is, for any Person, any direct or indirect liability, contingent or not, liability of that Person for (i) (a) any direct or indirect guaranty by such Person of any indebtedness, lease, dividend, letter of credit, credit card or other obligation of another such as an another; (b) any other obligation directly or indirectly guaranteed, endorsed, co-made, discounted or sold with recourse by that Person, or for which that Person is directly or indirectly liable; (ii) (c) any obligations for undrawn... letters of credit for the account of that Person; and (iii) (d) all obligations from any interest rate, currency or commodity swap agreement, interest rate cap or collar agreement, or other agreement or arrangement designated to protect a Person against fluctuation in interest rates, currency exchange rates or commodity prices; but "Contingent Obligation" does not include endorsements in the ordinary course of business. The amount of a Contingent Obligation is the stated or determined amount of the primary obligation for which the Contingent Obligation is made or, if not determinable, the maximum reasonably anticipated liability for it determined by the Person in good faith; but the amount may not exceed the maximum of the obligations under the any guarantee or other support arrangement. View More

Contingent Obligation. Is, for any Person, any direct or indirect liability, contingent or not, liability of that Person for (i) (a) any direct or indirect guaranty by such Person of any indebtedness, lease, dividend, letter of credit, credit card or other obligation of another such as an another; (b) any other obligation directly or indirectly guaranteed, endorsed, co-made, discounted or sold with recourse by that Person, or for which that Person is directly or indirectly liable; (ii) (c) any obligations for undrawn... letters of credit for the account of that Person; and (iii) (d) all obligations from any interest rate, currency or commodity swap agreement, interest rate cap or collar agreement, or other agreement or arrangement designated to protect a Person against fluctuation in interest rates, currency exchange rates or commodity prices; but "Contingent Obligation" does not include endorsements in the ordinary course of business. The amount of a Contingent Obligation is the stated or determined amount of the primary obligation for which the Contingent Obligation is made or, if not determinable, the maximum reasonably anticipated liability for it determined by the Person in good faith; but the amount may not exceed the maximum of the obligations under the any guarantee or other support arrangement. View More

Contingent Obligation. As With respect to any Person, any obligation or arrangement of such Person guaranteeing to guarantee or intending intended to guarantee any Indebtedness, Debt, leases, dividends or other payment obligations ('primary obligations') ("primary obligations") of any other Person (the 'primary obligor') "primary obligor") in any manner, whether directly or indirectly, including, without limitation, (a) the direct or indirect guarantee, endorsement (other than for collection or deposit in the... ordinary course of business), co-making, discounting with recourse or sale with recourse by such Person of the obligation of a primary obligor, (b) the obligation to make take-or-pay or similar payments, if required, regardless of nonperformance by any other party or parties to an agreement or (c) any obligation of such Person, whether or not contingent, (a) (i) to purchase any such primary obligation or any property constituting direct or indirect security therefor, (b) (ii) to advance or supply funds (i) (A) for the purchase or payment of any such primary obligation or (ii) (B) to maintain working capital or equity capital of the primary obligor or otherwise to maintain the net worth or solvency of the primary obligor, (c) (iii) to purchase property, assets, securities or services primarily for the purpose of assuring the owner of any such primary obligation of the ability of the primary obligor to make payment of such primary obligation or (d) (iv) otherwise to assure or hold harmless the owner holder of such primary obligation against loss in respect thereof. The amount of any Contingent Obligation shall be deemed to be an amount equal to the stated or determinable amount of the primary obligation in respect of which such Contingent Obligation is made (or, if less, the maximum amount of such primary obligation for which such Person may be liable pursuant to the terms of the instrument evidencing such Contingent Obligation) or, if not stated or determinable, the maximum reasonably anticipated liability in respect thereof (assuming such Person is required to perform thereunder) thereunder), as determined by such Person in good faith. faith View More

Contingent Obligation. As applied to any Person, any obligation direct or indirect liability of such that Person guaranteeing or intending with respect to guarantee any Indebtedness, leases, dividends lease, dividend, guaranty, letter of credit or other obligations ('primary obligations') obligation, contractual or otherwise (the "primary obligation") of any other another Person (the 'primary obligor') in any manner, whether directly or indirectly, including, without limitation, any obligation of such Person, "primary obligor"), whether or not contingent, (a) to purchase any purchase, repurchase or otherwise acquire such primary obligation obligations or any property constituting direct or indirect security therefor, (b) to advance or supply provide funds (i) for the purchase payment or payment of discharge or any such primary obligation or (ii) to maintain working capital or equity capital of the primary obligor or otherwise to maintain the net worth or solvency or any balance sheet item, level of income or financial condition of the primary obligor, (c) to purchase property, securities or services primarily for the purpose of assuring the owner of any such primary obligation of the ability of the primary obligor to make payment of such primary obligation obligation, or (d) otherwise to assure or hold harmless the owner of any such primary obligation against loss or failure or inability to perform in respect thereof. The amount of any Contingent Obligation shall be deemed to be an amount equal to the stated or determinable amount of the primary obligation in respect of which such Contingent Obligation is made or, if not stated or determinable, the maximum reasonably anticipated liability in respect thereof (assuming such Person is required to perform thereunder) as determined by such Person in good faith. thereof. View More

Contingent Obligation. As Means, as applied to any Person, any obligation direct or indirect liability of such that Person guaranteeing or intending with respect to guarantee any Indebtedness, leases, dividends lease, dividend, guaranty, letter of credit or other obligations ('primary obligations') obligation, contractual or otherwise (the "primary obligation") of any other another Person (the 'primary obligor') in any manner, whether directly or indirectly, including, without limitation, any obligation of such... Person, "primary obligor"), whether or not contingent, (a) to purchase any purchase, repurchase or otherwise acquire such primary obligation obligations or any property constituting direct or indirect security therefor, (b) to advance or supply provide funds (i) for the purchase payment or payment discharge of any such primary obligation or (ii) to maintain working capital or equity capital of the primary obligor or otherwise to maintain the net worth or solvency or any balance sheet item, level of income or financial condition of the primary obligor, (c) to purchase property, securities or services primarily for the purpose of assuring the owner of any such primary obligation of the ability of the primary obligor to make payment of such primary obligation obligation, or (d) otherwise to assure or hold harmless the owner of any such primary obligation against loss or failure or inability to perform in 16 respect thereof. The amount of any Contingent Obligation shall be deemed to be an amount equal to the stated or determinable amount of the primary obligation in respect of which such Contingent Obligation is made or, if not stated or determinable, the maximum reasonably anticipated liability in respect thereof (assuming such Person is required to perform thereunder) as determined by such Person in good faith. thereof. View More

Contingent Obligation. Means, as to any Person, any direct or indirect liability, contingent or otherwise, of that Person with respect to any indebtedness, lease, dividend or other obligation of another Person if the primary purpose or intent of the Person incurring such liability, or the primary effect thereof, is to provide assurance to the obligee of such liability that such liability will be paid or discharged, or that any agreements relating thereto will be complied with, or that the holders of such liability... will be protected (in whole or in part) against loss with respect thereto. thereto, other than obligations resulting from the endorsement of negotiable instruments for collection in the ordinary course of business. View More