Continuance or Reinstatement of Indemnity. Notwithstanding anything to the contrary contained in this Indemnity, Indemnitor agrees that this Indemnity shall continue to be effective or shall be reinstated, as the case may be, if at any time any payment is made by Indemnitor to Agent or any Lender and such payment is rescinded or must otherwise be returned by Agent or such Lender upon insolvency, bankruptcy, liquidation, reorganization, readjustment, composition, dissolution, receivership, conservatorship, winding up or other similar proceeding involving or affecting Indemnitor, all as though such payment had not been made. Agent may, but shall not be required to, litigate or otherwise dispute such rescission or its obligation to make such repayments.
Appears in 3 contracts
Samples: Environmental Indemnity (Ashford Hospitality Prime, Inc.), Collateral Transfer and Settlement Agreement (KBS Real Estate Investment Trust, Inc.), Collateral Transfer and Settlement Agreement (Gramercy Capital Corp)
Continuance or Reinstatement of Indemnity. Notwithstanding anything to the contrary contained in this Indemnity, Indemnitor agrees Indemnitors agree that this Indemnity shall continue to be effective or shall be reinstated, as the case may be, if at any time any payment is made by any Indemnitor to Agent or any Lender and such payment is rescinded or must otherwise be returned by Agent or such Lender upon insolvency, bankruptcy, liquidation, reorganization, readjustment, composition, dissolution, receivership, conservatorship, winding up or other similar proceeding involving or affecting any Indemnitor, all as though such payment had not been made. Agent may, but shall not be required to, litigate or otherwise dispute such rescission or its obligation to make such repayments.. 62526567 10
Appears in 1 contract
Samples: Environmental Indemnity (Ashford Hospitality Prime, Inc.)
