Common use of Invalidated Payments Clause in Contracts

Invalidated Payments. To the extent that the Lender receives any payment on of any amounts owing under this Note, and any such payment(s) or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside, subordinate and/or required to be repaid to a trustee, receiver or any other person or entity under any bankruptcy act, state or federal law, common law or equitable cause, then, to the extent of such payment(s) received, the Borrower’s obligations or part thereof intended to be satisfied shall be revived and continue in full force and effect, as if such payment(s) had not been received by the Lender and applied on account of the Borrower’s obligations under this Note.

Invalidated Payments. To the extent that the Lender either Bank receives any payment on account of any amounts owing under this Notethe Secured Obligations, and any such payment(s) and/or proceeds or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside, subordinate subordinated and/or required to be repaid to a trustee, receiver or any other person or entity Person under any bankruptcy act, state or federal law, common law or equitable cause, then, to the extent of such payment(s) or proceeds received, the Borrower’s obligations Secured Obligations or part thereof intended to be satisfied shall be revived and continue in full force and effect, as if such payment(s) and/or proceeds had not been received by the Lender Bank and applied on account of the Borrower’s obligations under this NoteSecured Obligations.

Invalidated Payments. To the extent that the Lender receives any payment on account of any amounts owing under this Notethe Secured Obligations, and any such payment(s) and/or proceeds or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside, subordinate subordinated and/or required to be repaid to a trustee, receiver or any other person or entity Person under any bankruptcy act, state or federal law, common law or equitable cause, then, to the extent of such payment(s) or proceeds received, the Borrower’s obligations Secured Obligations or part thereof intended to be satisfied shall be revived and continue in full force and effect, as if such payment(s) and/or proceeds had not been received by the Lender and applied on account of the Borrower’s obligations under this NoteSecured Obligations.

Invalidated Payments. To the extent that the Lender a Purchaser receives any payment on account of any amounts owing under this Note, the Secured Obligations and any such payment(s) and/or proceeds or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside, subordinate subordinated and/or required to be repaid to a trustee, receiver or any other person or entity Person under any bankruptcy act, state or federal law, common law or equitable cause, then, to the extent of such payment(s) or proceeds received, the Borrower’s obligations Secured Obligations or part thereof intended to be satisfied shall be revived and continue in full force and effect, as if such payment(s) and/or proceeds had not been received by the Lender Purchaser and applied on account of the Borrower’s obligations under this NoteSecured Obligations.