Common use of Avoidance Issues Clause in Contracts

Avoidance Issues. If any ABL Secured Party, Term Secured Party or Notes Secured Party is required in any Insolvency or Liquidation Proceeding or otherwise to turn over or otherwise pay to the estate of the Company or any other Grantor any amount (a “Recovery”), then such ABL Secured Party, Term Secured Party or Notes Secured Party, as applicable, shall be entitled to a reinstatement of ABL Obligations, Term Obligations or Notes Obligations, as applicable, with respect to all such recovered amounts. If this Agreement shall have been terminated prior to such Recovery, this Agreement shall be reinstated in full force and effect, and such prior termination shall not diminish, release, discharge, impair or otherwise affect the obligations of the parties hereto from such date of reinstatement.

Avoidance Issues. If any ABL Secured Party, Term Facility Secured Party or Notes Term Loan Secured Party is required in any Insolvency or Liquidation Proceeding or otherwise to turn over or otherwise pay to the estate of the Company Borrower or any other Grantor any amount (a “Recovery”), then such ABL Secured Party, Term Facility Secured Party or Notes Term Loan Secured Party, as applicable, shall be entitled to a reinstatement of ABL Obligations, Term Facility Obligations or Notes Term Loan Obligations, as applicable, with respect to all such recovered amounts. If this Agreement shall have been terminated prior to such Recovery, this Agreement shall be reinstated in full force and effect, and such prior termination shall not diminish, release, discharge, impair or otherwise affect the obligations of the parties hereto from such date of reinstatement.

Avoidance Issues. If any ABL Secured Party, Term Secured Party or Notes Term Secured Party is required in any Insolvency or Liquidation Proceeding or otherwise to turn over or otherwise pay to the estate of the Company or any other Grantor any amount (a “Recovery”), then such ABL Secured Party, Term Secured Party or Notes Term Secured Party, as applicable, shall be entitled to a reinstatement of ABL Obligations, Term Obligations or Notes Term Obligations, as applicable, with respect to all such recovered amounts. If this Agreement shall have been terminated prior to such Recovery, this Agreement shall be reinstated in full force and effect, and such prior termination shall not diminish, release, discharge, impair or otherwise affect the obligations of the parties hereto from such date of reinstatement.

Avoidance Issues. If any ABL Secured Party, Term Secured Party or Notes Secured Party Note Claimholder is required in any Insolvency or Liquidation Proceeding or otherwise to turn over or otherwise pay to the estate of the Company or any other Grantor any amount paid in respect of ABL Obligations or the Noteholder Obligations, as the case may be, (a “Recovery”), then such ABL Secured Party, Term Secured Party Parties or Notes Secured Party, as applicable, Note Claimholders shall be entitled to a reinstatement of ABL Obligations, Term Obligations or Notes the Noteholder Obligations, as applicablethe case may be, with respect to all such recovered amounts. If this Agreement shall have been terminated prior to such Recovery, this Agreement shall be reinstated in full force and effect, and such prior termination shall not diminish, release, discharge, impair or otherwise affect the obligations of the parties hereto from such date of reinstatement.

Avoidance Issues. If any ABL Revolving Facility Secured Party, Term First Lien Secured Party or Notes Second Lien Secured Party is required required, in any Insolvency or Liquidation Proceeding or otherwise otherwise, to turn over or otherwise pay to the estate of the Company or any other Grantor any amount (a “Recovery”), then such ABL Revolving Facility Secured Party, Term First Lien Secured Party or Notes Second Lien Secured Party, as applicable, shall be entitled to a reinstatement of ABL Revolving Facility Obligations, Term First Lien Obligations or Notes Second Lien Obligations, as applicable, with respect to all such recovered amounts. If this Agreement shall have been terminated prior to such Recovery, this Agreement shall be reinstated in full force and effect, and such prior termination shall not diminish, release, discharge, impair or otherwise affect the obligations of the parties hereto from such date of reinstatement.

Avoidance Issues. If any ABL Secured Party, Term Facility Secured Party or Notes Term Loan Secured Party is required in any Insolvency or Liquidation Proceeding or otherwise to turn over or otherwise pay to the estate of the Company any Borrower or any other Grantor any amount (a “Recovery”), then such ABL Secured Party, Term Facility Secured Party or Notes Term Loan Secured Party, as applicable, shall be entitled to a reinstatement of ABL Obligations, Term Facility Obligations or Notes Term Loan Obligations, as applicable, with respect to all such recovered amounts. If this Agreement shall have been terminated prior to such Recovery, this Agreement shall be reinstated in full force and effect, and such prior termination shall not diminish, release, discharge, impair or otherwise affect the obligations of the parties hereto from such date of reinstatement.

Avoidance Issues. If any ABL Secured Party, Term Secured Party or Notes Pari Term Debt Secured Party is required in any Insolvency or Liquidation Proceeding or otherwise to turn over or otherwise pay to the estate of the Company or any other Grantor any amount (a “Recovery”), then such ABL Secured Party, Term Secured Party or Notes Pari Term Debt Secured Party, as applicable, shall be entitled to a reinstatement of ABL Obligations, Term Obligations or Notes Pari Term Debt Obligations, as applicable, with respect to all such recovered amounts. If this Agreement shall have been terminated prior to such Recovery, this Agreement shall be reinstated in full force and effect, and such prior termination shall not diminish, release, discharge, impair or otherwise affect the obligations of the parties hereto from such date of reinstatement.

Avoidance Issues. If any ABL Facility Secured Party, Term Loan Secured Party or Notes Junior Priority Secured Party is required in any Insolvency or Liquidation Proceeding or otherwise to turn over or otherwise pay to the estate of the Company or any other Grantor any amount (a “Recovery”), then such ABL Facility Secured Party, Term Loan Secured Party or Notes Junior Priority Secured Party, as applicable, shall be entitled to a reinstatement of ABL Facility Obligations, Term Loan Obligations or Notes Junior Priority Obligations, as applicable, with respect to all such recovered amounts. If this Agreement shall have been terminated prior to such Recovery, this Agreement shall be reinstated in full force and effect, and such prior termination shall not diminish, release, discharge, impair or otherwise affect the obligations of the parties hereto from such date of reinstatement.

Avoidance Issues. If any ABL Secured Party, Term Secured Party or Notes Term Loan Secured Party is required in any Insolvency or Liquidation Proceeding or otherwise to turn over or otherwise pay to the estate of the Company or any other Grantor Obligor any amount paid in respect of ABL Obligations or the Term Loan Obligations, as the case may be (a “Recovery”), then such ABL Secured Party, Parties or Term Loan Secured Party or Notes Secured Party, as applicable, Parties shall be entitled to a reinstatement of ABL Obligations, Term Obligations or Notes the Term Loan Obligations, as applicablethe case may be, with respect to all such recovered amounts. If this Agreement shall have been terminated prior to such Recovery, this Agreement shall be reinstated in full force and effect, and such prior termination shall not diminish, release, discharge, impair or otherwise affect the obligations of the parties hereto from such date of reinstatement.