Common use of Marshaling; Reinstatement Clause in Contracts

Marshaling; Reinstatement. None of the Lenders nor the LC Issuer nor the Administrative Agent nor any Person acting for or on behalf of the Lenders, the LC Issuer or the Administrative Agent shall have any obligation to marshal any assets in favor of Guarantor or against or in payment of any or all of the Guaranteed Obligations. If Guarantor, Borrower or any other guarantor of all or any part of the Guaranteed Obligations makes a payment or payments to any Lender, the LC Issuer or the Administrative Agent, or any Lender, the LC Issuer or the Administrative Agent receives any proceeds of collateral, which payment or payments or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside and/or required to be repaid to Borrower, Guarantor, such other guarantor or any other Person, or their respective estates, trustees, receivers or any other party, including, without limitation, Guarantor, under any bankruptcy law, state or federal law, common law or equitable cause, then, to the extent of such payment or repayment, the part of the Guaranteed Obligations which has been paid, reduced or satisfied by such amount shall be reinstated and continued in full force and effect as of the time immediately preceding such initial payment, reduction or satisfaction.

Marshaling; Reinstatement. None of the Lenders nor the LC Issuer Issuers nor the Administrative Agent nor any Person acting for or on behalf of the Lenders, the LC Issuer Issuers or the Administrative Agent shall have any obligation to marshal any assets in favor of any Guarantor or against or in payment of any or all of the Guaranteed Obligations. If any Guarantor, the Borrower or any other guarantor of all or any part of the Guaranteed Obligations makes a payment or payments to any Lender, the any LC Issuer or the Administrative Agent, or any Lender, the any LC Issuer or the Administrative Agent receives any proceeds of collateral, which payment or payments or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside and/or required to be repaid to the Borrower, any Guarantor, such other guarantor or any other Person, or their respective estates, trustees, receivers or any other party, including, without limitation, Guarantorthe Guarantors, under any bankruptcy law, state or federal law, common law or equitable cause, then, to the extent of such payment or repayment, the part of the Guaranteed Obligations which has been paid, reduced or satisfied by such amount shall be reinstated and continued in full force and effect as of the time immediately preceding such initial payment, reduction or satisfaction.

Marshaling; Reinstatement. None of the Lenders nor the LC Issuer nor the Administrative Agent nor any Person acting for or on behalf of the Lenders, the LC Issuer Collateral Agent, or the Administrative Agent shall have any obligation to marshal any assets in favor of Guarantor Vitrocrisa or against or in payment of any or all of the Guaranteed Obligations. If GuarantorVitrocrisa, Borrower Comercial or any other guarantor of all or any part of the Guaranteed Obligations makes a payment or payments to any Lender, the LC Issuer Collateral Agent, or the Administrative Agent, or if any Lender, the LC Issuer Collateral Agent, or the Administrative Agent receives any proceeds of collateral, which payment or payments or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside and/or required to be repaid to BorrowerComercial, GuarantorVitrocrisa, such other guarantor or any other Person, or their respective estates, trustees, receivers or any other party, including, without limitation, GuarantorVitrocrisa, under any bankruptcy law, state or federal law, common law or equitable cause, then, to the extent of such payment or repayment, the part of the Guaranteed Obligations which has been paid, reduced or satisfied by such amount shall be reinstated and continued in full force and effect as of the time immediately preceding such initial payment, reduction or satisfaction.