Common use of Continuation and Reinstatement, etc Clause in Contracts

Continuation and Reinstatement, etc. Each Guarantor agrees that, to the extent that (i) the Borrower makes payments to the Administrative Agent or any Bank (including any Swap Bank) or (ii) the Administrative Agent or any Bank (including any Swap Bank) receives any proceeds of any property of Borrower or any Guarantor, and in either such case such payments or proceeds or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside, or otherwise required to be repaid, then to the extent of such repayment the Guaranteed Obligations shall be reinstated and continued in full force and effect as of the date such initial payment or collection of proceeds occurred. The Guarantor shall defend and indemnify the Administrative Agent and each Bank (including each Swap Bank) from and against any claim or loss under this Section 5 (including reasonable attorneys’ fees and expenses) in the defense of any such action or suit.

Appears in 3 contracts

Samples: Senior Unsecured Term Loan Agreement (LaSalle Hotel Properties), Senior Unsecured Credit Agreement (LaSalle Hotel Properties), Senior Unsecured Term Loan Agreement (LaSalle Hotel Properties)

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Continuation and Reinstatement, etc. Each Guarantor agrees ------------------------------------ that, to the extent that (i) the Borrower makes payments to the Administrative Agent Agent, the Documentation Agent, the Managing Agents or any Bank (including any Swap Bank) or (ii) the Administrative Agent Agent, the Documentation Agent, the Managing Agents or any Bank (including any Swap Bank) receives any proceeds of any property of Borrower or any Guarantor, Guarantor and in either such case such payments or proceeds or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside, or otherwise required to be repaid, then to the extent of such repayment the Guaranteed Obligations shall be reinstated and continued in full force and effect as of the date such initial payment or collection of proceeds occurred. The Guarantor shall defend and indemnify the Administrative Agent Agent, the Documentation Agent, the Managing Agents and each Bank (including each Swap Bank) from and against any claim or loss under this Section 5 (including reasonable attorneys' fees and expenses) in the defense of any such action or suit.

Appears in 2 contracts

Samples: Credit Agreement (American General Hospitality Corp), Credit Agreement (American General Hospitality Corp)

Continuation and Reinstatement, etc. Each Guarantor agrees that, to the extent that (i) the Borrower makes payments to the Administrative Agent, the Syndication Agent, the Documentation Agent or any Bank (including any Swap Bank) or (ii) the Administrative Agent, the Syndication Agent, the Documentation Agent or any Bank (including any Swap Bank) receives any proceeds of any property of Borrower or any Guarantor, Guarantor and in either such case such payments or proceeds or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside, or otherwise required to be repaid, then to the extent of such repayment the Guaranteed Obligations shall be reinstated and continued in full force and effect as of the date such initial payment or collection of proceeds occurred. The Guarantor shall defend and indemnify the Administrative Agent, the Syndication Agent, the Documentation Agent and each Bank (including each Swap Bank) from and against any claim or loss under this Section 5 (including reasonable attorneys' fees and expenses) in the defense of any such action or suit.

Appears in 1 contract

Samples: Guaranty and Contribution Agreement (Lasalle Hotel Properties)

Continuation and Reinstatement, etc. Each Guarantor ----------------------------------- agrees that, to the extent that (i) the Borrower makes payments to the Administrative Agent, the Syndication Agent, the Documentation Agent or any Bank (including any Swap Bank) or (ii) the Administrative Agent, the Syndication Agent, the Documentation Agent or any Bank (including any Swap Bank) receives any proceeds of any property of Borrower or any Guarantor, Guarantor and in either such case such payments or proceeds or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside, or otherwise required to be repaid, then to the extent of such repayment the Guaranteed Obligations shall be reinstated and continued in full force and effect as of the date such initial payment or collection of proceeds occurred. The Guarantor shall defend and indemnify the Administrative Agent, the Syndication Agent, the Documentation Agent and each Bank (including each Swap Bank) from and against any claim or loss under this Section 5 (including reasonable attorneys' fees and expenses) in the defense of any such action or suit.

Appears in 1 contract

Samples: Guaranty and Contribution Agreement (Lasalle Hotel Properties)

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Continuation and Reinstatement, etc. Each Guarantor agrees that, to the extent that (i) the Borrower makes payments to the Administrative Agent Lender or any Bank (including any Swap Bank) or (ii) the Administrative Agent or any Bank (including any Swap Bank) Lender receives any proceeds of any property of Borrower or any Guarantor, Guarantor and in either such case such payments or proceeds or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside, or otherwise required to be repaid, then to the extent of such repayment the Guaranteed Obligations shall be reinstated and continued in full force and effect as of the date such initial payment or collection of proceeds occurred. The Guarantor shall defend and indemnify the Administrative Agent and each Bank (including each Swap Bank) Lender from and against any claim or loss under this Section 5 (including reasonable attorneys' fees and expenses) in the defense of any such action or suit.

Appears in 1 contract

Samples: Revolving Credit Agreement (Interstate Hotels & Resorts Inc)

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