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will be reinstated if at any time any payment or distribution in respect of any of the Priority Lien Obligations is rescinded or must otherwise be returned in an Insolvency Proceeding or otherwise by any of the Priority Lien Secured Parties or any representative of any such party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 Priority Lien Obligations is recovered from any of the Priority Lien Secured Parties in an Insolvency Proceeding or otherwise (and whether by demand, settlement, litigation or otherwise), any payment or distribution received by any of the Parity Lien Secured Parties with respect to the 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, will be deemed to have been received by the Parity Lien Secured Parties in trust as property for the Priority Lien Secured Parties and the Parity Lien Secured Parties will forthwith deliver such payment or distribution to the Collateral Trustee, for the benefit of the Priority Lien Secured Parties, for application to the Priority Lien Obligations until such Priority Lien Obligations have been paid in full in cash and all commitments in respect of Priority Lien Obligations have been terminated.

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will be reinstated if at any time any payment or distribution in respect of any of the Priority Lien Obligations is rescinded or must otherwise be returned in an Insolvency Proceeding or otherwise by any of the Priority Lien Secured Parties or any representative of any such party 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 Priority Lien Obligations is recovered from any of the Priority Lien Secured Parties in an Insolvency Proceeding or otherwise (and whether by demand, settlement, litigation or otherwise), any payment or distribution received by any of the Parity Lien Secured Parties with respect to the 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, will be deemed to have been received by the Parity Lien Secured Parties in trust as property for the Priority Lien Secured Parties and the Parity Lien Secured Parties will forthwith deliver such payment or distribution to the Collateral TrusteeAgent, for the benefit of the Priority Lien Secured Parties, for application to the Priority Lien Obligations until such Priority Lien Obligations have been paid in full in cash and all commitments in respect of Priority Lien Obligations have been terminated.

Continuing Nature of this Agreement. This Agreement, including the subordination provisions hereof, will shall be reinstated if at any time any payment or distribution in respect of any of the Priority Lien Obligations is rescinded or must otherwise be returned in an Insolvency Proceeding or a Bankruptcy Case or otherwise by any of the Priority Lien Secured Parties 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 Priority Lien Obligations is recovered from any of the Priority Lien Secured Parties in an Insolvency Proceeding or a Bankruptcy Case or otherwise (and whether by demand, settlement, litigation or otherwise), any payment or distribution received by any of the Parity Lien Secured Parties with respect to the 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, will shall be deemed to have been received by the Parity Lien Secured Parties in trust as property for the Priority Lien Secured Parties and the Parity Lien Secured Parties will shall forthwith deliver such payment or distribution to the Collateral Trustee, for the benefit of the Priority Lien Secured Parties, for application to the Priority Lien Obligations until such Priority Lien Obligations shall have been paid in full in cash and all commitments in respect of Priority Lien Obligations shall have been terminated.

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 Priority Lien Obligations is rescinded or must otherwise be returned in an Insolvency Proceeding or otherwise by any of the Priority Lien Secured Parties or any representative of any such party 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 Priority Lien Bank Debt Obligations is recovered from any of the Other Priority Lien Secured Parties in an Insolvency Proceeding or otherwise (and whether by demand, settlement, litigation or otherwise), any payment or distribution received by any of the Parity Other Priority Lien Secured Parties with respect to the Parity Other Priority 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, will be deemed to have been received by the Parity Other Priority Lien Secured Parties in trust as property for the Priority Lien Bank Debt Secured Parties and the Parity Other Priority Lien Secured Parties will forthwith deliver such payment or distribution to the Collateral Trustee, for the benefit of the Priority Lien Bank Debt Secured Parties, for application to the Priority Lien Bank Debt Obligations until such Priority Lien Bank Debt Obligations have been paid in full in cash and all commitments in respect of Priority Lien Bank Debt Obligations have been terminated.

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 Priority First Lien Obligations is rescinded or must otherwise be returned in an Insolvency or Liquidation Proceeding or otherwise by any of the Priority First Lien Secured Parties or 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 Priority First Lien Obligations is recovered from any of the Priority First Lien Secured Parties or any First Lien Representative in an Insolvency or Liquidation Proceeding or otherwise (and whether by demandotherwise, settlement, litigation or otherwise), any such payment or distribution received by any of the Parity Second Lien Secured Parties or Second Lien Representative with respect to the Parity Second 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, will be deemed to have been received by that Second Lien Representative or that holder of a Second Lien Obligation, as the Parity Lien Secured Parties in trust as property for the Priority Lien Secured Parties and the Parity Lien Secured Parties case may be, will forthwith deliver such payment or distribution the same to the Collateral Trustee, for the benefit account of the Priority First Lien Secured Parties, to be applied in accordance with Section 3.4. Until so delivered, such proceeds will be held by that Second Lien Representative or that holder of a Second Lien Obligation, as the case may be, for application to the Priority benefit of the First Lien Obligations until such Priority Lien Obligations have been paid in full in cash and all commitments in respect of Priority Lien Obligations have been terminatedSecured Parties.

Continuing Nature of this Agreement. This Agreement, including the subordination provisions hereof, will shall be reinstated if at any time any payment or distribution in respect of any of the Priority Lien Obligations is rescinded or must otherwise be returned in an Insolvency Proceeding or a Bankruptcy Case or otherwise by any of the Priority Lien Secured Parties 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 Priority Lien Obligations is recovered from any of the Priority Lien Secured Parties in an Insolvency Proceeding or a Bankruptcy Case or otherwise (and whether by demand, settlement, litigation or otherwise), any payment or distribution received by any of the Parity Second Lien Secured Parties with respect to the Parity Second Lien Obligations from the proceeds of any Collateral or any title insurance policy required by or, subject to the terms of the Security Documents, any real property mortgage other insurance policy in respect 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, will shall be deemed to have been received by the Parity Second Lien Secured Parties in trust as property for the Priority Lien Secured Parties and the Parity Second Lien Secured Parties will shall forthwith deliver such payment or distribution to the Collateral Trustee, for the benefit of the Priority Lien Secured Parties, for application to the Priority Lien Obligations until such Priority Lien Obligations shall have been paid in full in cash and all commitments in respect of Priority Lien Obligations shall have been terminated.

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 Senior Priority Lien Obligations is rescinded or must otherwise be returned in an Insolvency Proceeding or otherwise by any of the Senior Priority Lien Secured Parties 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 Senior Priority Lien Obligations is recovered from any of the Senior Priority Lien Secured Parties in an Insolvency Proceeding or otherwise (and whether by demand, settlement, litigation or otherwise), any payment or distribution received by any of the Parity Lien Junior Priority Secured Parties with respect to the Parity Junior Priority Lien Obligations from the proceeds of any Pledged 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, will be deemed to have been received by the Parity Lien Junior Priority Secured Parties in trust as property for the Senior Priority Lien Secured Parties and the Parity Lien Junior Priority Secured Parties will forthwith deliver such payment or distribution to the Collateral TrusteeAgent, for the benefit of the Senior Priority Lien Secured Parties, for application to the Senior Priority Lien Obligations (in accordance with Section 3.4) until such Senior Priority Lien Obligations have been paid in full in cash and all commitments in respect of Senior Priority Lien Obligations have been terminated.

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 Priority Lien Obligations is rescinded or must otherwise be returned in an Insolvency or Liquidation Proceeding or otherwise by any of the Priority Lien Secured Parties 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 Priority Lien First-Out Obligations is recovered from any holder of the Priority Lien Secured Parties Obligations, any Priority Lien Representative in an Insolvency or Liquidation Proceeding or otherwise (and whether by demandotherwise, settlement, litigation or otherwise), any such payment or distribution received by any holder of the Parity Priority Lien Secured Parties Obligations or Priority Lien Representative with respect to the Parity Priority 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, will be deemed to have been received by the Parity Lien Secured Parties in trust as property for the such Priority Lien Secured Parties and Representative or holder of a Priority Lien Obligation, as the Parity Lien Secured Parties case may be, will forthwith deliver such payment or distribution the same to the Collateral TrusteeAgent, for the ratable account of the holders of the First-Out Obligations to be applied in accordance with Section 3.4. Until so delivered, such proceeds will be held by such Priority Lien Representative or holder of Priority Lien Obligations, as the case may be, for the ratable benefit of the Priority Lien Secured Parties, for application to holders of the Priority Lien Obligations until such Priority Lien Obligations have been paid in full in cash and all commitments in respect of Priority Lien Obligations have been terminatedFirst-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 Priority Lien Obligations is rescinded or must otherwise be returned in an Insolvency or Liquidation Proceeding or otherwise by any holder of the Priority Lien Secured Parties Obligations or 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 Priority Lien Obligations is recovered from any holder of the Priority Lien Secured Parties Obligations or any Priority Lien Representative in an Insolvency or Liquidation Proceeding or otherwise (and whether by demandotherwise, settlement, litigation or otherwise), any such payment or distribution received by any holder of the Parity Lien Secured Parties Obligations or Parity Lien Representative with respect to the 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, will be deemed to have been received by the that Parity Lien Secured Parties in trust Representative or that holder of a Parity Lien Obligation, as property for the case may be, will forthwith deliver the same to the Priority Lien Secured Parties Agent, for the account of the holders of the Priority Lien Obligations and the other Obligations secured by a Permitted Prior Lien, to be applied in accordance with Sections 2.8 and 2.9. Until so delivered, such proceeds will be held by that Parity Lien Secured Parties will forthwith deliver such payment Representative or distribution to that holder of a Parity Lien Obligation, as the Collateral Trusteecase may be, for the benefit of the Priority Lien Secured Parties, for application to holders of the Priority Lien Obligations until such Priority Lien and other Obligations have been paid in full in cash and all commitments in respect of Priority Lien Obligations have been terminatedsecured 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 Senior Priority Lien Obligations is rescinded or must otherwise be returned in an Insolvency Proceeding or otherwise by any of the Senior Priority Lien Secured Parties 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 Senior Priority Lien Obligations is recovered from any of the Senior Priority Lien Secured Parties in an Insolvency Proceeding or otherwise (and whether by demand, settlement, litigation or otherwise), any payment or distribution received by any of the Parity Lien Junior Priority Secured Parties with respect to the Parity Junior Priority 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, will be deemed to have been received by the Parity Lien Junior Priority Secured Parties in trust as property for the Senior Priority Lien Secured Parties and the Parity Lien Junior Priority Secured Parties will forthwith deliver such payment or distribution to the Collateral TrusteeAgent, for the benefit of the Senior Priority Lien Secured Parties, for application to the Senior Priority Lien Obligations (in accordance with Section 3.4) until such Senior Priority Lien Obligations have been paid in full in cash and all commitments in respect of Senior Priority Lien Obligations have been terminated.

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 Priority Lien Obligations is rescinded or must otherwise be returned in an Insolvency or Liquidation Proceeding or otherwise by any holder of the Priority Lien Secured Parties Obligations or 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 Priority Lien Obligations is recovered from any holder of the Priority Lien Secured Parties Obligations or any Priority Lien Representative in an Insolvency or Liquidation Proceeding or otherwise (and whether by demandotherwise, settlement, litigation or otherwise), any such payment or distribution received by any holder of the Parity Lien Secured Parties Obligations or Collateral Agent with respect to the 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, will be deemed to have been received by the that Collateral Agent or that holder of a Parity Lien Secured Parties in trust Obligation, as property the case may be, will forthwith deliver the same to Priority Lien Collateral Agent, for the account of the holders of the Priority Lien Secured Parties Obligations and the other Obligations secured by a Permitted Prior Lien, to be applied in accordance with Sections 4.1 and 4.2. Until so delivered, such proceeds will be held by Collateral Agent or that holder of a Parity Lien Secured Parties will forthwith deliver such payment or distribution to Obligation, as the Collateral Trusteecase may be, for the benefit of the Priority Lien Secured Parties, for application to holders of the Priority Lien Obligations until such Priority Lien and other Obligations have been paid in full in cash and all commitments in respect of Priority Lien Obligations have been terminatedsecured by a Permitted Prior Lien.