Common use of Limitation on Security Interest Clause in Contracts

Limitation on Security Interest. If, whether in any case or other proceeding pursuant to any bankruptcy, insolvency or similar statute or otherwise, any Security Interest is sought to be voided or otherwise rendered unenforceable under applicable law as a fraudulent conveyance or transfer, such Security Interest shall not secure the payment and other performance of the Obligations to the extent of any amount in excess of the maximum amount the payment and other performance of which can be so secured without such Security Interest being so voided or otherwise rendered unenforceable.

Limitation on Security Interest. If, whether If any Security Interest is sought to be voided in any case or other proceeding pursuant to any bankruptcy, insolvency or similar statute or otherwise, any Security Interest is sought to be voided or otherwise rendered unenforceable under applicable law as a fraudulent conveyance or transferstatute, such Security Interest shall not secure the payment and other performance of the Obligations to the extent of any amount in excess of the maximum amount the payment and other performance of which can be so secured without rendering such Security Interest being so voided unenforceable under applicable law as a fraudulent conveyance or otherwise rendered unenforceabletransfer.