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12:53 Aug 31, 2001
English to Spanish translations [PRO] Law/Patents
English term or phrase:maximum aggregate liability
In consideration of the credit established by THE BANK under THE FINANCE CONTRACT and subject to the terms hereof, including Article 3, each GUARANTOR hereby severally, but not jointly, guarantees to the extent of its percentage liability as provided in Article 3 hereof, the payment of all principal monies, interest, commission, liquidated damages, charges, expenses and other monies (each such sum payable by THE BORROWER under THE FINANCE CONTRACT being hereinafter referred to as a "Guaranteed Sum") which are expressed to be payable from time to time by THE BORROWER under THE FINANCE CONTRACT, provided that the maximum aggregate liability of all GUARANTORS hereunder shall be limited to the Maximum Amount provided in Article 3, and provided further that the maximum aggregate liability of each GUARANTOR hereunder shall be limited to such GUARANTOR'S percentage liabilit
"..., siempre que el total máximo de la deuda afianzada por todos los garantes/ fiadores no supere el Monto Máximo especificado en el Artículo 3, y siempre que el total máximo de la deuda afianzada por cada garante/fiador no supere su respectiva parte porcentual"
Two or more persons are guaranteeing somebody else\\\'s debt. The agreement specifies that the guarantors will be severally but not jointly liable, i.e., each will be liable for their own part of the debt, and not for the total debt.
All guarantors will be liable for a maximum total specified amount (Art. 3), and each guarantor will be liable for his/her own part of that total amount only.