Common use of Avoidance of Payments Clause in Contracts

Avoidance of Payments. (a) If any payment, conveyance, transfer or other transaction relating to or affecting the Secured Moneys is: (1) void, voidable or unenforceable in whole or in part; or (2) claimed to be void, voidable or unenforceable and that claim is upheld, conceded or compromised in whole or in part, the liability of each Guarantor under this clause 14 and any Power is the same as if: (3) that payment, conveyance, transfer or transaction (or the void, voidable or unenforceable part of it); and (4) any release, settlement or discharge made in reliance on any thing referred to in clause 14.6(a)(3), had not been made and each Guarantor must immediately take all action and sign all documents necessary or required by the Agent to restore to each Finance Party the benefit of this clause 14 and any Encumbrance held by the Finance Parties immediately before the payment, conveyance, transfer or transaction. (b) Clause 14.6(a) applies whether or not any Finance Party knew, or ought to have known, of anything referred to in clause 14.6(a).

Avoidance of Payments. (a) If any payment, conveyance, transfer or other transaction relating to or affecting the Secured Moneys is: (1) void, voidable or unenforceable in whole or in part; or (2) claimed to be void, voidable or unenforceable and that claim is upheld, conceded or compromised in whole or in part, the liability of each Guarantor under this clause 14 13 and any Power is the same as if: (3) that payment, conveyance, transfer or transaction (or the void, voidable or unenforceable part of it); and (4) any release, settlement or discharge made in reliance on any thing anything referred to in clause 14.6(a)(313.6(a)(3), had not been made and each Guarantor must immediately take all action and sign all documents necessary or required by the Agent Financier to restore to each Finance Party the Financier the benefit of this clause 14 13 and any Encumbrance held by the Finance Parties Financier immediately before the payment, conveyance, transfer or transaction. (b) Clause 14.6(a13.6(a) applies whether or not any Finance Party the Financier knew, or ought to have known, of anything referred to in clause 14.6(a13.6(a).

Avoidance of Payments. (a) If any payment, conveyance, transfer or other transaction relating to or affecting the Secured Outstanding Moneys is: (1) void, voidable or unenforceable in whole or in part; or (2) claimed to be void, voidable or unenforceable and that claim is upheld, conceded or compromised in whole or in part, the liability of each Guarantor under this clause 14 7 and any Power is the same as if: (3) that payment, conveyance, transfer or transaction (or the void, voidable or unenforceable part of it); and (4) any release, settlement or discharge made in reliance on any thing referred to in clause 14.6(a)(37.6(a)(3), had not been made and each Guarantor must immediately take all action and sign all documents necessary or required by the Agent Lender to restore to each Finance Party the Lender the benefit of this clause 14 7 and any Encumbrance held by the Finance Parties Lender immediately before the payment, conveyance, transfer or transaction. (b) Clause 14.6(a7.6(a) applies whether or not any Finance Party the Lender knew, or ought to have known, of anything referred to in clause 14.6(a7.6(a).

Avoidance of Payments. (a) If any payment, conveyance, transfer or other transaction relating to or affecting the Secured Moneys is: (1) void, voidable or unenforceable in whole or in part; or (2) claimed to be void, voidable or unenforceable and that claim is upheld, conceded or compromised in whole or in part, the liability of each the Guarantor under this clause 14 and any Power is the same as if: (3) that payment, conveyance, transfer or transaction (or the void, voidable or unenforceable part of it); and (4) any release, settlement or discharge made in reliance on any thing referred to in clause 14.6(a)(3), had not been made and each the Guarantor must immediately take all action and sign all documents necessary or required by the Agent Financier to restore to each Finance Party the Financier the benefit of this clause 14 and any Encumbrance held by the Finance Parties Financier immediately before the payment, conveyance, transfer or transaction. (b) Clause 14.6(a) applies whether or not any Finance Party the Financier knew, or ought to have known, of anything referred to in clause 14.6(a).

Avoidance of Payments. (a) If any payment, conveyance, transfer or other transaction relating to or affecting the Secured Moneys is: (1) void, voidable or unenforceable in whole or in part; or (2) claimed to be void, voidable or unenforceable and that claim is upheld, conceded or compromised in whole or in part, the liability of each the Guarantor under this clause 14 21 and any Power is the same as if: (3) that payment, conveyance, transfer or transaction (or the void, voidable or unenforceable part of it); and (4) any release, settlement or discharge made in reliance on any thing referred to in clause 14.6(a)(321.6(a)(3), had not been made and each the Guarantor must immediately take all action and sign all documents necessary or required by the Agent Financier to restore to each Finance Party the Financier the benefit of this clause 14 21 and any Encumbrance held by the Finance Parties Financier immediately before the payment, conveyance, transfer or transaction. (b) Clause 14.6(a21.6(a) applies whether or not any Finance Party the Financier knew, or ought to have known, of anything referred to in clause 14.6(a21.6(a).

Avoidance of Payments. (a) If any payment, conveyance, transfer or other transaction relating to or affecting the Secured Moneys Money Owing is: (1) void, voidable or unenforceable in whole or in part; or (2) claimed to be void, voidable or unenforceable and that claim is upheld, conceded or compromised in whole or in part, the liability of each Guarantor under this clause 14 13 and any Power power is the same as if: (3) that payment, conveyance, transfer or transaction (or the void, voidable or unenforceable part of it); and (4) any release, settlement or discharge made in reliance on any thing referred to in clause 14.6(a)(313.6(a)(3), had not been made and each Guarantor must immediately take all action and sign all documents necessary or required by the Agent Lender to restore to each Finance Party the Lender the benefit of this clause 14 13 and any Encumbrance Security Interest held by the Finance Parties Lender immediately before the payment, conveyance, transfer or transaction. (b) Clause 14.6(a13.6(a) applies whether or not any Finance Party the Lender knew, or ought to have known, of anything referred to in clause 14.6(a13.6(a).

Avoidance of Payments. (a) If any payment, conveyance, transfer or other transaction relating to or affecting the Secured Moneys Money Owing is: (1) void, voidable or unenforceable in whole or in part; or (2) claimed to be void, voidable or unenforceable and that claim is upheld, conceded or compromised in whole or in part, the liability of each Guarantor Obligor under this clause 14 16 and any Power power is the same as if: (3) that payment, conveyance, transfer or transaction (or the void, voidable or unenforceable part of it); and (4) any release, settlement or discharge made in reliance on any thing referred to in clause 14.6(a)(316.6(a)(3), had not been made and each Guarantor Obligor must immediately take all action and sign all documents necessary or required by the Agent Finance Parties to restore to each the Finance Party Parties the benefit of this clause 14 16 and any Encumbrance Security Interest held by the any Finance Parties Party immediately before the payment, conveyance, transfer or transaction. (b) Clause 14.6(a16.6(a) applies whether or not any Finance Party knew, or ought to have known, of anything referred to in clause 14.6(a16.6(a).

Avoidance of Payments. (a) If any payment, conveyance, transfer or other transaction relating to or affecting the Secured Moneys Amount Outstanding is: (1i) void, voidable or unenforceable in whole or in part; or (2ii) claimed to be void, voidable or unenforceable and that claim is upheld, conceded or compromised in whole or in part, the liability of each Guarantor under this clause 14 12 and any Power is the same as if: (3iii) that payment, conveyance, transfer or transaction (or the void, voidable or unenforceable part of it); and (4iv) any release, settlement or discharge made in reliance on any thing referred to in clause 14.6(a)(312.5(a)(iii), had not been made and each Guarantor must immediately take all action and sign all documents necessary or required by the Agent Lender to restore to each Finance Party the Lender the benefit of this clause 14 12 and any Encumbrance Security Interest held by the Finance Parties Lender immediately before the payment, conveyance, transfer or transaction. (b) Clause 14.6(a12.5(a) applies whether or not any Finance Party the Lender knew, or ought to have known, of anything referred to in clause 14.6(a12.5(a).

Avoidance of Payments. (a) If any payment, conveyance, transfer or other transaction relating to or affecting the Secured Moneys is: (1) void, voidable or unenforceable in whole or in part; or (2) claimed to be void, voidable or unenforceable and that claim is upheld, conceded or compromised in whole or in part, the liability of each Guarantor under this clause 14 ‎12 and any Power is the same as if: (3) that payment, conveyance, transfer or transaction (or the void, voidable or unenforceable part of it); and (4) any release, settlement or discharge made in reliance on any thing referred to in clause 14.6(a)(3‎12.6(a)(3), had not been made and each Guarantor must immediately take all action and sign all documents necessary or required by the Agent to restore to each Finance Party the benefit of this clause 14 ‎12 and any Encumbrance held by the Finance Parties immediately before the payment, conveyance, transfer or transaction. (b) Clause 14.6(a‎12.6(a) applies whether or not any Finance Party knew, or ought to have known, of anything referred to in clause 14.6(a)that clause.

Avoidance of Payments. (a) If any payment, conveyance, transfer or other transaction relating to or affecting the Secured Moneys is: (1) void, voidable or unenforceable in whole or in part; or (2) claimed to be void, voidable or unenforceable and that claim is upheld, conceded or compromised in whole or in part, the liability of each Guarantor under this clause 14 13 and any Power is the same as if: (3) that payment, conveyance, transfer or transaction (or the void, voidable or unenforceable part of it); and (4) any release, settlement or discharge made in reliance on any thing referred to in clause 14.6(a)(313.6(a)(3), had not been made and each Guarantor must immediately take all action and sign all documents necessary or required by the Agent Financier to restore to each Finance Party the Financier the benefit of this clause 14 13 and any Encumbrance held by the Finance Parties Financier immediately before the payment, conveyance, transfer or transaction. (b) Clause 14.6(a13.6(a) applies whether or not any Finance Party the Financier knew, or ought to have known, of anything referred to in clause 14.6(a13.6(a).