Common use of Effect of Stay Clause in Contracts

Effect of Stay. In the event that acceleration of the time for payment of any amount payable by any Person under any of the Borrower Guaranteed Obligations is stayed upon insolvency, bankruptcy or reorganization of such Person, all such amounts otherwise subject to acceleration under the terms of any applicable agreement or instrument evidencing or relating to any of the Borrower Guaranteed Obligations shall nonetheless be payable by the Borrower under this Article forthwith on demand by the Administrative Agent.

Effect of Stay. In the event that acceleration of the time for payment of any amount payable by any Person Obligor under any of the Borrower Guaranteed Obligations is stayed upon insolvency, bankruptcy or reorganization of such PersonObligor, all such amounts otherwise subject to acceleration under the terms of any applicable agreement or instrument evidencing or relating to any of the Borrower Guaranteed Obligations shall nonetheless be payable by the Borrower Guarantor under this Article IX forthwith on demand by the Administrative Agent.

Effect of Stay. In the event that acceleration of the time for payment of any amount payable by any Person Holdings under any of the Borrower Guaranteed Obligations is stayed upon insolvency, bankruptcy or reorganization of such PersonHoldings, all such amounts otherwise subject to acceleration under the terms of any applicable agreement or instrument evidencing or relating to any of the Borrower Guaranteed Obligations shall nonetheless be payable by the Borrower Holdings under this Article forthwith on demand by the Administrative AgentLender.

Effect of Stay. In the event that acceleration of the time for payment of any amount payable by any Person other Borrower under any of the Borrower Guaranteed Obligations Obligation is stayed upon insolvency, bankruptcy or reorganization of such Personother Borrower, all such amounts otherwise subject to acceleration under the terms of any applicable agreement or instrument evidencing or relating to any of the Borrower Guaranteed Obligations Obligation shall nonetheless be payable by the Borrower Company under this Article section forthwith on demand by the Administrative Agent.