Common use of Avoidance of Payments Clause in Contracts

Avoidance of Payments. Where any release, discharge or other arrangement in respect of any Secured Obligation or any security the Collateral Agent may have for such Secured Obligation is given or made in reliance on any payment or other disposition which is avoided or must be repaid in an insolvency, liquidation or otherwise, and whether or not the Collateral Agent has conceded or compromised any claim that any such payment or other disposition will or should be avoided or repaid, this Assignment and the Security shall continue as if such release, discharge or other arrangement had not been given or made.

Avoidance of Payments. Where any release, discharge or other arrangement in respect of any Secured Obligation or any security the Collateral Agent Delegate may have for such Secured Obligation is given or made in reliance on any payment or other disposition which is avoided or must be repaid in an insolvency, liquidation or otherwise, and whether or not the Collateral Agent Delegate has conceded or compromised any claim that any such payment or other disposition will or should be avoided or repaid, this Assignment and the Security shall continue as if such release, discharge or other arrangement had not been given or made.

Avoidance of Payments. Where any release, discharge or other arrangement in respect of any Secured Obligation or any security the Delegate Collateral Agent may have for such Secured Obligation is given or made in reliance on any payment or other disposition which is avoided or must be repaid in an insolvency, liquidation or otherwise, and whether or not the Delegate Collateral Agent has conceded or compromised any claim that any such payment or other disposition will or should be avoided or repaid, this Assignment Charge and the Security shall continue as if such release, discharge or other arrangement had not been given or made.

Avoidance of Payments. Where any release, discharge or other arrangement in respect of any Secured Obligation or any security Security the Collateral Buyer or the Agent may have hold for such Secured Obligation is given or made in reliance on any payment or other disposition which is avoided or must be repaid in an insolvency, liquidation or otherwise, and whether or not the Collateral Buyer or the Agent has conceded or compromised any claim that any such payment or other disposition will or should be avoided or repaid, this Assignment Deed and the Security shall continue as if such release, discharge or other arrangement had not been given or made.