Common use of Avoided Payments Clause in Contracts

Avoided Payments. If, at any time, any payment (in whole or in part) made with respect to any Senior Obligations is rescinded or must be restored or returned by a Holder or the Trustee on behalf of the Holders, the provisions of this paragraph shall continue to be effective or shall be reinstated, as the case may be, as though such payment had not been made.

Appears in 4 contracts

Samples: Receivables Sale Agreement (Ingram Micro Inc), Receivables Sale Agreement (American Axle & Manufacturing Inc), Receivables Sale Agreement (Lifestyle Furnishings International LTD)

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