Common use of Continuing Guaranty; Reinstatement Clause in Contracts

Continuing Guaranty; Reinstatement. (a) This Agreement is a continuing agreement and shall (i) remain in full force and effect with respect to Guarantor until the Termination Date, (ii) be binding upon Guarantor, its successors and assigns and (iii) inure to the benefit of and be enforceable by the Credit Parties and their successors, transferees and assigns. (b) This Agreement shall continue to be effective or be reinstated, as the case may be, with respect to the Guarantor if at any time any payment of any of the Guaranteed Obligations of Guarantor is rescinded or must otherwise be returned by any Credit Party or any other Person in connection with the insolvency, bankruptcy, reorganization or other similar proceedings affecting the Parent or the Borrower under Debtor Relief Laws or otherwise, all as though such payment had not been made. (c) Subject to Section 5.05(b), the Obligations of Guarantor under this Agreement shall terminate on the Termination Date.

Continuing Guaranty; Reinstatement. (a) This Agreement is a continuing agreement and shall (i) remain in full force and effect with respect to Guarantor until the Termination Date, (ii) be binding upon Guarantor, its successors and assigns and (iii) inure to the benefit of and be enforceable by the Credit Parties and their successors, transferees and assigns. (b) This Agreement shall continue to be effective or be reinstated, as the case may be, with respect to the Guarantor if at any time any payment of any of the Guaranteed Obligations of Guarantor is rescinded or must otherwise be returned by any Credit Party or any other Person in connection with the insolvency, bankruptcy, reorganization or other similar proceedings affecting the Parent Borrower or the Borrower any other Loan Party under Debtor Relief Laws or otherwise, all as though such payment had not been made. (c) Subject to Section 5.05(b), the The Obligations of Guarantor under this Agreement shall terminate on the Termination Date.