Common use of Bankruptcy and Forfeiture Reinstatement Clause in Contracts

Bankruptcy and Forfeiture Reinstatement. If any consideration transferred to Bank in payment of, or as collateral for, or in satisfaction of the Obligations, shall be voided in whole or in part as a result of (A) a subsequent bankruptcy or insolvency proceeding; (B) any forfeiture or in rem seizure action or remedy; (C) any fraudulent transfer or preference action or remedy; or (D) any other criminal or equitable proceeding or remedy, then Bank may at its option recover the Obligations or the consideration so voided from Applicant. In such event, Bank's claim to recover the voided consideration shall be a new and independent claim arising under the Agreement, and shall be jointly and severally due and payable immediately by Applicant.

Bankruptcy and Forfeiture Reinstatement. If any consideration transferred to Bank in payment of, or as collateral for, or in satisfaction of the Obligations, shall be voided in whole or in part as a result of (A) a subsequent bankruptcy or insolvency proceeding; (B) any forfeiture or in rem seizure action or remedy; (C) any fraudulent transfer or preference action or remedy; or (D) any other criminal or equitable proceeding or remedy, then Bank may at its option recover the Obligations or the consideration so voided from Applicant. In such event, Bank's ’s claim to recover the voided consideration shall be a new and independent claim arising under the Agreement, and shall be jointly and severally due and payable immediately by Applicant.

Bankruptcy and Forfeiture Reinstatement. If any consideration transferred to Bank in payment of, or as collateral for, or in satisfaction of the Obligations, shall be voided in whole or in part as a result of (A) a subsequent bankruptcy or insolvency proceeding; (B) any forfeiture or in rem seizure action or remedy; (C) any fraudulent transfer or preference action or remedy; or (D) any other criminal or equitable proceeding or remedy, then Bank may at its option recover the Obligations or the consideration so voided from Applicant. Applicant In such event, Bank's ’s claim to recover the voided consideration shall be a new and independent claim arising under the Agreement, and shall be jointly and severally due and payable immediately by Applicant.

Bankruptcy and Forfeiture Reinstatement. If any consideration transferred to Bank in payment of, or as collateral for, or in satisfaction of the Obligations, shall be voided in whole or in part as a result of (Aa) a subsequent bankruptcy or insolvency proceeding; (Bb) any forfeiture or in rem seizure action or remedy; (Cc) any fraudulent transfer or preference action or remedy; or (Dd) any other civil, criminal or equitable proceeding or remedy, then Bank may the obligations under this Agreement with respect to such payment shall be reinstated as though such payment had been due but not made at its option recover the Obligations or the consideration so voided from Applicant. In such eventtime, and further, Bank's ’s claim to recover the voided consideration shall be a new and independent claim arising under the Agreement, applicable Credit Document and shall be jointly and severally due and payable immediately by Applicantthe Credit Parties that are obligated therefor under the terms of the Credit Documents.

Bankruptcy and Forfeiture Reinstatement. If any consideration transferred to the Bank in payment of, or as collateral for, or in satisfaction of the Obligations, shall be voided in whole or in part as a result of of: (Aa) a subsequent bankruptcy or insolvency proceeding; ; (Bb) any forfeiture or in rem seizure action or remedy; ; (Cc) any fraudulent transfer or preference action or remedy; or or (Dd) any other criminal or equitable proceeding or remedy, then the Bank may at its option recover the Obligations or the consideration so voided from the Applicant. In such event, the Bank's claim to recover the voided consideration shall be a new and independent claim arising under the this Agreement, and shall be jointly and severally due and payable immediately by Applicant.

Bankruptcy and Forfeiture Reinstatement. If any consideration transferred to Bank in payment of, or as collateral for, or in satisfaction of the Obligations, shall be voided in whole or in part as a result of (A) a subsequent bankruptcy or insolvency proceeding; (B) any forfeiture or in rem seizure action or remedy; (C) any fraudulent transfer or preference action or remedy; or (D) any other criminal or equitable proceeding or remedy, then Bank may at its option recover the Obligations or the consideration so voided from Applicant. In such event, Bank's Banks claim to recover the voided consideration shall be a new and independent claim arising under the Agreement, and shall be jointly and severally due and payable immediately by Applicant.