Common use of Deemed Existence Clause in Contracts

Deemed Existence. If at any time, all or any part of any payment previously applied by the Administrative Agent or any Lender to any Obligation is or must be rescinded or returned by the Administrative Agent or any Lender for any reason whatsoever (including the insolvency, bankruptcy, or reorganization of the Guarantor or any Other Loan Party) such Obligation shall, for the purpose of this Guarantee, to the extent that such payment is rescinded or returned, be deemed to have continued in existence, notwithstanding such application by the Administrative Agent or any Lender, and this Guarantee shall continue to be effective or be reinstated, as the case may be, as to such Obligation, all as though such application by the Administrative Agent or any Lender had not been made.

Deemed Existence. If at any time, all or any part of any payment previously applied by the Administrative Agent or any Lender to any Obligation is or must be rescinded or returned by the Administrative Agent or any Lender for any reason whatsoever (including including, without limitation, the insolvency, bankruptcy, or reorganization of the Guarantor or any Other Loan Party) Borrower), such Obligation shall, for the purpose of this GuaranteeIndemnity, to the extent that such payment is rescinded or returned, be deemed to have continued in existence, notwithstanding such application by the Administrative Agent or any Lender, and this Guarantee Indemnity shall continue to be effective or be reinstated, as the case may be, as to such Obligation, all as though such application by the Administrative Agent or any Lender had not been made.

Deemed Existence. If at any time, all or any part of any payment previously applied by the Administrative Agent or any Lender other Beneficiary to any Obligation is or must be rescinded or returned by the Administrative Agent or any Lender such Beneficiary for any reason whatsoever (including the insolvency, bankruptcy, or reorganization of the any Guarantor or any Other Loan Credit Party) such Obligation shall, for the purpose of this Guarantee, to the extent that such payment is rescinded or returned, be deemed to have continued in existence, notwithstanding such application by the Administrative Agent or any Lendersuch Beneficiary, and this Guarantee shall continue to be effective or be reinstated, as the case may be, as to such Obligation, all as though such application by the Administrative Agent or any Lender such Beneficiary had not been made.