Declaration of Invalidation Sample Clauses

Declaration of Invalidation. Each Bank agrees that, to the extent that any payments received by any Bank from any Loan Party or otherwise on account of the Loans are subsequently invalidated, declared to be fraudulent or preferential, set aside or judicially required to be repaid to a debtor-in-possession, trustee, receiver, custodian or any other Person in connection with any proceeding referred to in Section 7.01(m) hereof or any similar cause of action ("Preference"), then, to the extent of such Preference, each Bank shall, upon demand, reimburse the Bank subject to such Preference in the amount necessary to cause each Bank to be affected by such Preference in proportion to its Pro Rata Share of the Loans.

Declaration of Invalidation. Each Bank and each Issuing Bank agrees that, to the extent that any amount received by any Bank or any Issuing Bank from the Borrower or otherwise on account of any of the Loans or Letters of Credit, is subsequently invalidated, declared to be fraudulent or preferential, set aside or judicially required to be repaid to a debtor-in-possession, trustee, receiver, custodian or any other Person in connection with any proceeding referred to in Section 6.01(b) or 6.01 (c) or any similar cause of action (a "Preference"), then, to the extent of such Preference, each Bank and each Issuing Bank shall upon demand reimburse the Bank(s) or Issuing Bank(s) subjected to such Preference the amount necessary to cause each Bank and each Issuing Bank to be affected by such Preference in proportion to its Pro Rata Share of the Credit Exposures.

Declaration of Invalidation. Each Lender agrees that, to the extent that any amount received by any Lender from Borrower or otherwise on account of any of the Loans, is subsequently invalidated, declared to be fraudulent or preferential, set aside or judicially required to be repaid to a debtor-in-possession, trustee, receiver, custodian or any other Person in connection with any proceeding referred to in Article IX(g) or (h) hereof or any similar cause of action (a "Preference"), then, to the extent of such Preference, each Lender shall upon demand reimburse Lenders(s) subjected to such Preference the amount necessary to cause each Lender to be affected by such Preference in proportion to its pro rata share of the Loans Outstanding.

Declaration of Invalidation. Participant agrees that, to the extent amounts or any part thereof, received in connection with the Loans from Borrowers or otherwise, whether by payment, realization of Collateral, or otherwise are subsequently invalidated, declared to be fraudulent or preferential, set aside, or required by any Authority to be repaid to a trustee, receiver or any other Person under any applicable law, order or judgment, including the Bankruptcy Code or any similar state law or any other cause of action, Participant shall repay to Lender, after request by Lender, its Share of any such amount (with interest to the extent required), so that Participant will be affected by any such invalidation, declaration, set aside, or repayment in accordance with its Share thereof.