Invalidation of Payments. To the extent that any of the Secured Parties receives payments on the Obligations or receives Proceeds of Collateral which are subsequently invalidated, declared to be fraudulent or preferential, or are required to be repaid to a collateral agent, receiver or any other Person under the Bankruptcy Code or under state, federal or common law, then, to the extent the payments or Proceeds are so repaid, the Obligations or part thereof which was intended to be satisfied shall be revived and will continue to be in full force and effect as if those payments or Proceeds had never been received by such Secured Party.
Invalidation of Payments. To the extent that any of the Beneficiaries receives payments on the Secured Debt or receive Proceeds of Collateral which are subsequently invalidated, declared to be fraudulent or preferential, or are required to be repaid to a collateral agent, receiver or any other Person under the Bankruptcy Code or under state, federal or common law, then, to the extent the payments or Proceeds are so repaid, the Secured Debt or part thereof which was intended to be satisfied shall be revived and will continue to be in full force and effect as if those payments or Proceeds had never been received by such Beneficiary.
Invalidation of Payments. Guarantor’s obligations hereunder shall not be reduced or impaired by the commencement of any proceedings by or against PSA Counterparty under the Bankruptcy Code (U.S.C. Title 11) or any other liquidation, conservatorship, bankruptcy, moratorium, rearrangement, receivership, insolvency, reorganization or similar debtor relief laws affecting the rights of creditors generally, any stay or ruling thereunder, or the disallowance of any claim thereunder. If all or any part of any payment to or for the benefit of Beneficiary in respect of the Obligations shall be invalidated, declared to be fraudulent or preferential, set aside, rescinded or required for any reason to be repaid or paid to a trustee, receiver or other third party or otherwise returned by Beneficiary, then any Obligations that otherwise would have been satisfied by that payment or partial payment shall be revived and continue in full force and effect (and this Guaranty shall continue to be effective or reinstated, as the case may be, with respect thereto) as if that payment had not been made.
Invalidation of Payments. (a) Notwithstanding anything to the contrary herein, each Guarantor irrevocably and unconditionally agrees that its obligations under this Guarantee shall not be released, discharged, diminished, impaired, reduced, or affected for any reason by the occurrence of one or more of the following events, whether or not with notice to or the consent of such Guarantor: (i) any partial release of the liability of the Seller or any Selling Subsidiary, as applicable, for any or all of the Guaranteed Obligations, or the settlement or compromise of any of the Guaranteed Obligations (other than any releases, settlements or compromises with respect to a particular Guaranteed Obligation made pursuant to and in accordance with the terms and conditions of the applicable Transaction Agreement); (ii) the commencement of any proceedings by or against the Seller or any Selling Subsidiary, as applicable, under the Bankruptcy Code (U.S.C. Title 11) or any other liquidation, conservatorship, bankruptcy, moratorium, rearrangement, receivership, insolvency, reorganization or similar debtor relief laws affecting the rights of creditors generally (collectively, “Debtor Relief Law”), any stay or ruling thereunder, or the disallowance of any claim thereunder;
Invalidation of Payments. As a separate, independent and alternative stipulation, Guarantor irrevocably and unconditionally agrees as a primary obligation to indemnify the Sellers from time to time on demand from and against any loss incurred by the Sellers as a result of any of the Obligations not being paid or performed in the manner required under the PSA by the date due or being or becoming void, voidable or unenforceable for any reason whatsoever, whether known or unknown to the Sellers or Purchaser, the amount of such loss being the amount which the Sellers would otherwise be entitled to recover from Purchaser under the PSA with respect to such Obligations and provided that recovery shall be without duplication to recovery under other provisions of this Guarantee. Guarantor’s obligations hereunder shall not be affected by the commencement of any proceedings by or against Purchaser under the Bankruptcy Code (U.S.C. Title 11) or any other liquidation, conservatorship, bankruptcy, moratorium, rearrangement, receivership, insolvency, reorganization or similar debtor relief laws affecting the rights of creditors generally, any stay or ruling thereunder, or the disallowance of any claim thereunder. If all or any part of any payment to or for the benefit of the Sellers in respect of the Obligations shall be invalidated, declared to be fraudulent or preferential, set aside or required for any reason to be repaid or paid to a trustee, receiver or other third party, then any Obligations that otherwise would have been satisfied by that payment or partial payment shall be revived and continue in full force and effect as if that payment had not been made. Guarantor shall be fully and primarily liable for such Obligations and as set forth in this Guarantee.
