Liability or Liabilities Definition Example

Liability or Liabilities. Shall mean without limitation, all liabilities, overdrafts, indebtedness, and obligations of Borrower and/or Guarantor to Lender under the Credit Agreement and the other Loan Documents, and all sums payable under or by virtue thereof, including without limitation, all amounts of principal and interest, all expenses (including reasonable attorney's fees and cost of collection) incurred in the collection thereof or the enforcement of rights thereunder (including, without limitation, any liability... arising from failure to comply with state or federal laws, rules and regulations concerning the control of hazardous waste or substances at or with respect to any real estate securing any loan guaranteed hereby), whether arising in the ordinary course of business or otherwise. The term "Liability" or "Liabilities" shall include all Obligations (as that term is defined in the Credit Agreement). If Borrower is a partnership, corporation or other entity the term "Liability" or "Liabilities" as used herein shall include all Liabilities to Lender of any successor entity or entities. View More