Common use of Continuing Nature of this Agreement Clause in Contracts

Continuing Nature of this Agreement. This Agreement, including the subordination provisions hereof, will be reinstated if at any time any payment or distribution in respect of any of the Parity Lien Obligations is rescinded or must otherwise be returned in an Insolvency or Liquidation Proceeding or otherwise by any holder of Parity Lien Obligations or Parity Lien Representative or any representative of any such party (whether by demand, settlement, litigation or otherwise). In the event that all or any part of a payment or distribution made with respect to the Parity Lien Obligations is recovered from any holder of Parity Lien Obligations or any Parity Lien Representative in an Insolvency or Liquidation Proceeding or otherwise, such payment or distribution received by any holder of Junior Lien Obligations or Junior Lien Representative with respect to the Junior Lien Obligations from the proceeds of any Collateral at any time after the date of the payment or distribution that is so recovered, whether pursuant to a right of subrogation or otherwise, that Junior Lien Representative or that holder of a Junior Lien Obligation, as the case may be, will forthwith deliver the same to the Collateral Trustee, for the account of the holders of the Parity Lien Obligations and other Obligations secured by a Permitted Prior Lien, to be applied in accordance with Section 3.4. Until so delivered, such proceeds will be held by that Junior Lien Representative or that holder of a Junior Lien Obligation, as the case may be, for the benefit of the holders of the Parity Lien Obligations and other Obligations secured by a Permitted Prior Lien.

Continuing Nature of this Agreement. (a) This Agreement, including the subordination provisions hereofhereof and the trusts created hereby, will be reinstated if at any time any payment or distribution in respect of any of the Parity First Lien Obligations is rescinded or must otherwise be returned in an Insolvency or Liquidation Proceeding or otherwise by any holder of Parity First Lien Obligations Secured Party or Parity First Lien Representative or any representative of any such party (whether by demand, settlement, litigation or otherwise). In the event that all or any part of a payment or distribution made with respect to the Parity First Lien Obligations is recovered from any holder of Parity First Lien Obligations Secured Party or any Parity First Lien Representative in an Insolvency or Liquidation Proceeding or otherwise, such any payment or distribution received by any holder of Junior Second Lien Obligations Secured Party or Junior the Second Lien Representative Administrative Agent with respect to the Junior Second Lien Obligations or by any Third Lien Secured Party or the Trustee with respect to the Third Lien Obligations, as the case may be, from the proceeds of any Collateral or any title insurance policy required by any real property mortgage at any time after the date of the payment or distribution that is so recovered, whether pursuant to a right of subrogation or otherwise, that Junior will be delivered by the Second Lien Representative Administrative Agent, such Second Lien Secured Party, the Trustee or that holder of a Junior such Third Lien ObligationSecured Party, as the case may be, will forthwith deliver the same to the Collateral TrusteeAgent, for the account of the holders of the Parity First Lien Obligations and other Obligations secured by a Permitted Prior Lien, Secured Parties to be applied in accordance with Section 3.4. Until so delivered, such proceeds will be held by that Junior the Second Lien Representative Administrative Agent, such Second Lien Secured Party, the Trustee or that holder of a Junior such Third Lien ObligationSecured Party, as the case may be, for the benefit of the holders First Lien Secured Parties. (b) Subject to Section 7.21(a), this Agreement, including the subordination provisions hereof and the trusts created hereby, will be reinstated if at any time any payment or distribution in respect of any of the Parity Second Lien Obligations and other is rescinded or must otherwise be returned in an Insolvency or Liquidation Proceeding or otherwise by any Second Lien Secured Party or the Second Lien Administrative Agent or any representative of any such party (whether by demand, settlement, litigation or otherwise). In the event that all or any part of a payment or distribution made with respect to the Second Lien Obligations secured is recovered from any Second Lien Secured Party or the Second Lien Administrative Agent in an Insolvency or Liquidation Proceeding or otherwise, any payment or distribution received by any Third Lien Secured Party or the Trustee with respect to the Third Lien Obligations, as the case may be, from the proceeds of any Collateral or any title insurance policy required by any real property mortgage at any time after the date of the payment or distribution that is so recovered, whether pursuant to a Permitted Prior Lienright of subrogation or otherwise, will be delivered by the Trustee or such Third Lien Secured Party, as the case may be, to the Collateral Agent, for the account of the Second Lien Secured Parties to be applied in accordance with Section 3.4. Until so delivered, such proceeds will be held by the Trustee or such Third Lien Secured Party, as the case may be, for the benefit of the Second Lien Secured Parties.

Continuing Nature of this Agreement. This Agreement, including the subordination provisions hereof, will be reinstated if at any time any payment or distribution in respect of any of the Parity Priority Lien Obligations is rescinded or must otherwise be returned in an Insolvency or Liquidation Proceeding or otherwise by any holder of Parity Priority Lien Obligations or Parity Priority Lien Representative or any representative of any such party (whether by demand, settlement, litigation or otherwise). In the event that all or any part of a payment or distribution made with respect to the Parity Priority Lien Obligations is recovered from any holder of Parity Priority Lien Obligations or any Parity Priority Lien Representative in an Insolvency or Liquidation Proceeding or otherwise, such payment or distribution received by any holder of Junior Lien Obligations Noteholder or Junior Lien Notes Representative with respect to the Junior Lien Notes Obligations from the proceeds of any Shared Real Estate Collateral or any title insurance policy required by any real property mortgage at any time after the date of the payment or distribution that is so recovered, whether pursuant to a right of subrogation or otherwise, that Junior Lien Notes Representative or that holder of a Junior Lien ObligationNoteholder, as the case may be, will forthwith deliver the same to the Priority Lien Collateral TrusteeAgent, for the account of the holders of the Parity Priority Lien Obligations and other Obligations secured by a Permitted Prior Lien, to be applied in accordance with Section 3.4Sections 4.1 and 4.2. Until so delivered, such proceeds will be held by that Junior Lien Notes Representative or that holder of a Junior Lien ObligationNoteholder, as the case may be, for the benefit of the holders of the Parity Priority Lien Obligations and other Obligations secured by a Permitted Prior Lien.

Continuing Nature of this Agreement. This Agreement, including the subordination provisions hereofpriority payment rights of the First-Out Secured Parties and certain issuing banks under the Senior Credit Agreement as contemplated by Section 3.4, will be reinstated following termination hereof if at any time any payment or distribution in respect of any of the Parity Priority Lien Obligations is rescinded or must otherwise be returned in an Insolvency or Liquidation Proceeding or otherwise by any holder of Parity Priority Lien Obligations or Parity Secured Party, Priority Lien Representative or any representative of any such party (whether by demand, settlement, litigation or otherwise). In the event that If all or any part of a payment or distribution made with respect to the Parity Lien First-Out Obligations is recovered from any holder of Parity Priority Lien Obligations or Obligations, any Parity Priority Lien Representative in an Insolvency or Liquidation Proceeding or otherwise, such payment or distribution received by any holder of Junior Priority Lien Obligations or Junior Priority Lien Representative with respect to the Junior Priority Lien Obligations from the proceeds of any Collateral at any time after the date of the payment or distribution that is so recovered, whether pursuant to a right of subrogation or otherwise, that Junior such Priority Lien Representative or that holder of a Junior Priority Lien Obligation, as the case may be, will forthwith deliver the same to the Collateral Trustee, for the ratable account of the holders of the Parity Lien Obligations and other Obligations secured by a Permitted Prior Lien, First-Out Secured Parties to be applied in accordance with Section 3.4. Until so delivered, such proceeds will be held by that Junior such Priority Lien Representative or that holder of a Junior Priority Lien ObligationObligations, as the case may be, for the ratable benefit of the holders of the Parity Lien Obligations and other Obligations secured by a Permitted Prior LienFirst-Out Secured Parties.

Continuing Nature of this Agreement. This Agreement, including the subordination provisions hereof, will be reinstated if at any time any payment or distribution in respect of any of the Parity Priority Lien Obligations is rescinded or must otherwise be returned in an Insolvency or Liquidation Proceeding or otherwise by any holder of Parity Priority Lien Obligations or Parity Priority Lien Representative or any representative of any such party (whether by demand, settlement, litigation or otherwise). In the event that all or any part of a payment or distribution made with respect to the Parity Priority Lien Obligations is recovered from any holder of Parity Priority Lien Obligations or any Parity Priority Lien Representative in an Insolvency or Liquidation Proceeding or otherwise, such payment or distribution received by any holder of Junior Subordinated Lien Obligations or Junior Subordinated Lien Representative with respect to the Junior Subordinated Lien Obligations from the proceeds of any Collateral at any time after the date of the payment or distribution that is so recovered, whether pursuant to a right of subrogation or otherwise, that Junior Subordinated Lien Representative or that holder of a Junior Subordinated Lien Obligation, as the case may be, will forthwith deliver the same to the Collateral Trustee, for the account of the holders of the Parity Priority Lien Obligations and other Obligations secured by a Permitted Prior Lien, to be applied in accordance with Section 3.4. Until so delivered, such proceeds will be held by that Junior Subordinated Lien Representative or that holder of a Junior Subordinated Lien Obligation, as the case may be, for the benefit of the holders of the Parity Priority Lien Obligations and other Obligations secured by a Permitted Prior Lien.

Continuing Nature of this Agreement. This Agreement, including the subordination provisions hereof, will be reinstated if at any time any payment or distribution in respect of any of the Parity Priority Lien Obligations is rescinded or must otherwise be returned in an Insolvency or Liquidation Proceeding or otherwise by any holder of Parity Priority Lien Obligations or Parity Priority Lien Representative or any representative of any such party (whether by demand, settlement, litigation or otherwise). In the event that all or any part of a payment or distribution made with respect to the Parity Priority Lien Obligations is recovered from any holder of Parity Priority Lien Obligations or any Parity Priority Lien Representative in an Insolvency or Liquidation Proceeding or otherwise, such payment or distribution received by any holder of Junior Lien Obligations or Junior Lien Representative with respect to the Junior Lien Obligations from the proceeds of any Collateral or any title insurance policy required by any real property mortgage at any time after the date of the payment or distribution that is so recovered, whether pursuant to a right of subrogation or otherwise, that Junior Lien Representative or that holder of a Junior Lien Obligation, as the case may be, will forthwith deliver the same to the Collateral Trustee, for the account of the holders of the Parity Priority Lien Obligations and other Obligations secured by a Permitted Prior Lien, to be applied in accordance with Section 3.4. Until so delivered, such proceeds will be held by that Junior Lien Representative or that holder of a Junior Lien Obligation, as the case may be, for the benefit of the holders of the Parity Priority Lien Obligations and other Obligations secured by a Permitted Prior Lien.

Continuing Nature of this Agreement. This Agreement, including the subordination provisions hereof, Agreement will be reinstated if at any time any payment or distribution in respect of any of the Parity Priority Lien Obligations is rescinded or must otherwise be returned in an Insolvency or Liquidation Proceeding or otherwise by any holder of Parity Priority Lien Obligations or Parity Priority Lien Representative Collateral Agent or any representative of any such party (whether by demand, settlement, litigation or otherwise). In the event that all or any part of a payment or distribution made with respect to the Parity Priority Lien Obligations is recovered from any holder of Parity Priority Lien Obligations or any Parity Priority Lien Representative Collateral Agent in an Insolvency or Liquidation Proceeding or otherwise, such payment or distribution received by any holder of Junior Parity Lien Obligations or Junior Parity Lien Representative with respect to the Junior Parity Lien Obligations from the proceeds of any Collateral or any title insurance policy required by any real property mortgage at any time after the date of the payment or distribution that is so recovered, whether pursuant to a right of subrogation or otherwise, that Junior Parity Lien Representative or that holder of a Junior Parity Lien Obligation, as the case may be, will forthwith deliver the same to the Collateral Trustee, for the account of the holders of the Parity Priority Lien Obligations and other Obligations secured by a Permitted Prior LienObligations, to be applied in accordance with Section 3.4the applicable provisions of the Intercreditor Agreement. Until so delivered, such proceeds will be held by that Junior Parity Lien Representative or that holder of a Junior Parity Lien Obligation, as the case may be, for the benefit of the holders of the Parity Priority Lien Obligations and other Obligations secured by a Permitted Prior LienObligations.

Continuing Nature of this Agreement. This Agreement, including the lien subordination provisions hereof, will be reinstated if at any time any payment or distribution in respect of any of the Parity Priority Lien Obligations is rescinded or must otherwise be returned in an Insolvency or Liquidation Proceeding or otherwise by any holder of Parity Priority Lien Obligations or Parity Priority Lien Representative or any representative of any such party (whether by demand, settlement, litigation or otherwise). In the event that all or any part of a payment or distribution made with respect to the Parity Priority Lien Obligations is recovered from any holder of Parity Priority Lien Obligations or any Parity Priority Lien Representative in an Insolvency or Liquidation Proceeding or otherwise, such payment or distribution received by any holder of Junior Subordinated Lien Obligations or Junior Subordinated Lien Representative with respect to the Junior Subordinated Lien Obligations from the proceeds of any Collateral at any time after the date of the payment or distribution that is so recovered, whether pursuant to a right of subrogation or otherwise, that Junior Subordinated Lien Representative or that holder of a Junior Subordinated Lien Obligation, as the case may be, will forthwith deliver the same to the Collateral Trustee, for the account of the holders of the Parity Priority Lien Obligations and other Obligations secured by a Permitted Prior Lien, to be applied in accordance with Section 3.4. Until so delivered, such proceeds will be held by that Junior Subordinated Lien Representative or that holder of a Junior Subordinated Lien Obligation, as the case may be, for the benefit of the holders of the Parity Priority Lien Obligations and other Obligations secured by a Permitted Prior Lien.

Continuing Nature of this Agreement. This Agreement, including the subordination provisions hereofpriority payment rights of the First-Out Secured Parties and certain issuing banks under the Senior Credit Agreement as contemplated by Section 3.4, will be reinstated following termination hereof if at any time any payment or distribution in respect of any of the Parity Priority Lien Obligations is rescinded or must otherwise be returned in an Insolvency or Liquidation Proceeding or otherwise by any holder of Parity Priority Lien Obligations or Parity Secured Party, Priority Lien Representative or any representative of any such party (whether by demand, settlement, litigation or otherwise). In the event that If all or any part of a payment or distribution made with respect to the Parity Lien First-Out Obligations is recovered from any holder of Parity Priority Lien Obligations or Obligations, any Parity Priority Lien Representative in Table of Contents an Insolvency or Liquidation Proceeding or otherwise, such payment or distribution received by any holder of Junior Priority Lien Obligations or Junior Priority Lien Representative with respect to the Junior Priority Lien Obligations from the proceeds of any Collateral at any time after the date of the payment or distribution that is so recovered, whether pursuant to a right of subrogation or otherwise, that Junior such Priority Lien Representative or that holder of a Junior Priority Lien Obligation, as the case may be, will forthwith deliver the same to the Collateral Trustee, for the ratable account of the holders of the Parity Lien Obligations and other Obligations secured by a Permitted Prior Lien, First-Out Secured Parties to be applied in accordance with Section 3.4. Until so delivered, such proceeds will be held by that Junior such Priority Lien Representative or that holder of a Junior Priority Lien ObligationObligations, as the case may be, for the ratable benefit of the holders of the Parity Lien Obligations and other Obligations secured by a Permitted Prior LienFirst-Out Secured Parties.

Continuing Nature of this Agreement. This Agreement, including the subordination provisions hereof, will be reinstated if at any time any payment or distribution in respect of any of the Parity Lien Obligations is rescinded or must otherwise be returned in an Insolvency or Liquidation Proceeding or otherwise by any holder of Parity Lien Obligations or Parity Lien Representative or any representative of any such party (whether by demand, settlement, litigation or otherwise). In the event that all or any part of a payment or distribution made with respect to the Parity Lien Obligations is recovered from any holder of Parity Lien Obligations or any Parity Lien Representative in an Insolvency or Liquidation Proceeding or otherwise, such payment or distribution received by any holder of Junior Lien Obligations or Junior Lien Representative with respect to the Junior Lien Obligations from the proceeds of any Collateral at any time after the date of the payment or distribution that is so recovered, whether pursuant to a right of subrogation or otherwise, that Junior Lien Representative or that holder of a Junior Lien Obligation, as the case may be, will forthwith deliver the same to the Collateral Trustee, for the account of the holders of the Parity Lien Obligations and other Obligations secured by a Permitted Prior LienObligations, to be applied in accordance with Section 3.4. Until so delivered, such proceeds will be held by that Junior Lien Representative or that holder of a Junior Lien Obligation, as the case may be, for the benefit of the holders of the Parity Lien Obligations and other Obligations secured by a Permitted Prior LienObligations.

Continuing Nature of this Agreement. This Agreement, including the subordination provisions hereof, will be reinstated if at any time any payment or distribution in respect of any of the Parity Priority Lien Obligations is rescinded or must otherwise be returned in an Insolvency or Liquidation Proceeding or otherwise by any holder of Parity Priority Lien Obligations or Parity Priority Lien Representative or any representative of any such party (whether by demand, settlement, litigation or otherwise). In the event that all or any part of a payment or distribution made with respect to the Parity Priority Lien Obligations is recovered from any holder of Parity Priority Lien Obligations or any Parity Priority Lien Representative in an Insolvency or Liquidation Proceeding or otherwise, such payment or distribution received by any holder of Junior Lien Obligations or Junior Lien Representative with respect to the Junior Lien Obligations from the proceeds of any Collateral at any time after the date of the payment or distribution that is so recovered, whether pursuant to a right of subrogation or otherwise, that Junior Lien Representative or that holder of a Junior Lien Obligation, as the case may be, will forthwith deliver the same to the Collateral Trustee, for the account of the holders of the Parity Priority Lien Obligations and other Obligations secured by a Permitted Prior Lien, to be applied in accordance with Section 3.4. Until so delivered, such proceeds will be held by that Junior Lien Representative or that holder of a Junior Lien Obligation, as the case may be, for the benefit of the holders of the Parity Priority Lien Obligations and other Obligations secured by a Permitted Prior Lien.

Continuing Nature of this Agreement. This Agreement, including the subordination provisions hereof, will be reinstated if at any time any payment or distribution in respect of any of the Parity Priority Lien Obligations is rescinded or must otherwise be returned in an Insolvency Insolvency, Concurso Mercantil, Quiebra or Liquidation Proceeding or otherwise by any holder of Parity Priority Lien Obligations or Parity Priority Lien Representative or any representative of any such party (whether by demand, settlement, litigation or otherwise). In the event that all or any part of a payment or distribution made with respect to the Parity Priority Lien Obligations is recovered from any holder of Parity Priority Lien Obligations or any Parity Priority Lien Representative in an Insolvency Insolvency, Concurso Mercantil, Quiebra or Liquidation Proceeding or otherwise, such payment or distribution received by any holder of Junior Lien Obligations or Junior Lien Representative with respect to the Junior Lien Obligations from the proceeds of any Collateral or any title insurance policy required by any real property mortgage at any time after the date of the payment or distribution that is so recovered, whether pursuant to a right of subrogation or otherwise, that Junior Lien Representative or that holder of a Junior Lien Obligation, as the case may be, will forthwith deliver the same to the Collateral Trustee, for the account of the holders of the Parity Priority Lien Obligations and other Obligations secured by a Permitted Prior Lien, to be applied in accordance with Section 3.4. Until so delivered, such proceeds will be held by that Junior Lien Representative or that holder of a Junior Lien Obligation, as the case may be, for the benefit of the holders of the Parity Priority Lien Obligations and other Obligations secured by a Permitted Prior Lien.

Continuing Nature of this Agreement. This Agreement, including the subordination provisions hereof, will be reinstated if at any time any payment or distribution in respect of any of the Parity Priority Lien Debt Obligations is rescinded or must otherwise be returned in an Insolvency or Liquidation Proceeding or otherwise by any holder of Parity Priority Lien Debt Obligations or Parity Priority Lien Debt Representative or any representative of any such party (whether by demand, settlement, litigation or otherwise). In the event that all or any part of a payment or distribution made with respect to the Parity Priority Lien Debt Obligations is recovered from any holder of Parity Priority Lien Debt Obligations or any Parity Priority Lien Debt Representative in an Insolvency or Liquidation Proceeding or otherwise, such payment or distribution received by any holder of Junior Parity Lien Debt Obligations or Junior Parity Lien Debt Representative with respect to the Junior Parity Lien Debt Obligations from the proceeds of any Collateral or any title insurance policy required by any real property mortgage at any time after the date of the payment or distribution that is so recovered, whether pursuant to a right of subrogation or otherwise, that Junior Parity Lien Debt Representative or that holder of a Junior Parity Lien Debt Obligation, as the case may be, will forthwith deliver the same to the Collateral Trustee, for the account of the holders of the Parity Priority Lien Debt Obligations and other Obligations secured by a Permitted Prior Lien, to be applied in accordance with Section 3.4. Until so delivered, such proceeds will be held by that Junior Parity Lien Debt Representative or that holder of a Junior Parity Lien Debt Obligation, as the case may be, for the benefit of the holders of the Parity Priority Lien Obligations and other Obligations secured by a Permitted Prior LienDebt Obligations.

Continuing Nature of this Agreement. This Agreement, including the subordination provisions hereofpriority payment rights of the First-Out Secured Parties, will be reinstated following termination hereof if at any time any payment or distribution in respect of any of the Parity Priority Lien Obligations is rescinded or must otherwise be returned in an Insolvency or Liquidation Proceeding or otherwise by any holder of Parity Priority Lien Obligations or Parity Secured Party, Priority Lien Representative or any representative of any such party (whether by demand, settlement, litigation or otherwise). In the event that If all or any part of a payment or distribution made with respect to the Parity Lien First-Out Obligations is recovered from any holder of Parity Priority Lien Obligations or Obligations, any Parity Priority Lien Representative in an Insolvency or Liquidation Proceeding or otherwise, such payment or distribution received by any holder of Junior Priority Lien Obligations or Junior Priority Lien Representative with respect to the Junior Priority Lien Obligations from the proceeds of any Collateral at any time after the date of the payment or distribution that is so recovered, whether pursuant to a right of subrogation or otherwise, that Junior such Priority Lien Representative or that holder of a Junior Priority Lien Obligation, as the case may be, will forthwith deliver the same to the Collateral TrusteeAgent, for the ratable account of the holders of the Parity Lien First-Out Obligations and other Obligations secured by a Permitted Prior Lien, to be applied in accordance with Section 3.4. Until so delivered, such proceeds will be held by that Junior such Priority Lien Representative or that holder of a Junior Priority Lien ObligationObligations, as the case may be, for the ratable benefit of the holders of the Parity Lien Obligations and other Obligations secured by a Permitted Prior LienFirst-Out Obligations.

Continuing Nature of this Agreement. This Agreement, including the subordination provisions hereof, will be reinstated if at any time any payment or distribution in respect of any of the Parity Priority Lien Debt Obligations is rescinded or must otherwise be returned in an Insolvency or Liquidation Proceeding or otherwise by any holder of Parity Priority Lien Debt Obligations or Parity Priority Lien Debt Representative or any representative of any such party (whether by demand, settlement, litigation or otherwise). In the event that all or any part of a payment or distribution made with respect to the Parity Priority Lien Debt Obligations is recovered from any holder of Parity Priority Lien Debt Obligations or any Parity Priority Lien Debt Representative in an Insolvency or Liquidation Proceeding or otherwise, such payment or distribution received by any holder of Junior Parity Lien Debt Obligations or Junior Parity Lien Debt Representative with respect to the Junior Parity Lien Debt Obligations from the proceeds of any Collateral or any title insurance policy required by any real property mortgage at any time after the date of the payment or distribution that is so recovered, whether pursuant to a right of subrogation or otherwise, that Junior Parity Lien Debt Representative or that holder of a Junior Parity Lien Obligation, as the case may be, will forthwith deliver the same to the Collateral Trustee, for the account of the holders of the Parity Priority Lien Debt Obligations and other Obligations secured by a Permitted Prior Lien, to be applied in accordance with Section 3.4. Until so delivered, such proceeds will be held by that Junior Parity Lien Debt Representative or that holder of a Junior Parity Lien Obligation, as the case may be, for the benefit of the holders of the Parity Priority Lien Obligations and other Obligations secured by a Permitted Prior LienDebt Obligations.

Continuing Nature of this Agreement. This Agreement, including the subordination provisions hereof, will be reinstated if at any time any payment or distribution in respect of any of the Parity Lien Obligations is rescinded or must otherwise be returned in an Insolvency or Liquidation Proceeding or otherwise by any holder of Parity Lien Obligations or Parity Lien Representative or any representative of any such party (whether by demand, settlement, litigation or otherwise). In the event that all or any part of a payment or distribution made with respect to the Parity Lien Obligations is recovered from any holder of Parity Lien Obligations or any Parity Lien Representative in an Insolvency or Liquidation Proceeding or otherwise, such payment or distribution received by any holder of Junior Lien Obligations or Junior Lien Representative with respect to the Junior Lien Obligations from the proceeds of any Collateral at any time after the date of the payment or distribution that is so recovered, whether pursuant to a right of subrogation or otherwise, that Junior Lien Representative or that holder of a Junior Lien Obligation, as the case may be, will forthwith deliver the same to the Collateral Trustee, for the account of the holders of the Parity Lien Obligations and other Obligations secured by a Permitted Prior Priority Lien, to be applied in accordance with Section 3.4. Until so delivered, such proceeds will be held by that Junior Lien Representative or that holder of a Junior Lien Obligation, as the case may be, for the benefit of the holders of the Parity Lien Obligations and other Obligations secured by a Permitted Prior Priority Lien.

Continuing Nature of this Agreement. This Agreement, including the subordination provisions hereof, will be reinstated if at any time any payment or distribution in respect of any of the Parity Lien Obligations is rescinded or must otherwise be returned in an Insolvency or Liquidation Proceeding or otherwise by any holder of Parity Lien Obligations or Parity Lien Representative or any representative of any such party (whether by demand, settlement, litigation or otherwise). In the event that all or any part of a payment or distribution made with respect to the Parity Lien Obligations is recovered from any holder of Parity Lien Obligations or any Parity Lien Representative in an Insolvency or Liquidation Proceeding or otherwise, such payment or distribution received by any holder of Junior Lien Obligations or Junior Lien Representative with respect to the Junior Lien Obligations from the proceeds of any Collateral or any title insurance policy required by any real property mortgage at any time after the date of the payment or distribution that is so recovered, whether pursuant to a right of subrogation or otherwise, that Junior Lien Representative or that holder of a Junior Lien Obligation, as the case may be, will forthwith deliver the same to the Collateral Trustee, for the account of the holders of the Parity Lien Obligations and other Obligations secured by a Permitted Prior Lien, to be applied in accordance with Section 3.4. Until so delivered, such proceeds will be held by that Junior Lien Representative or that holder of a Junior Lien Obligation, as the case may be, for the benefit of the holders of the Parity Lien Obligations and other Obligations secured by a Permitted Prior Lien.