Marshalling; Payments Set Aside. Neither the Administrative Agent nor the Lenders shall be under any obligation to marshal any assets in favor of any of the Borrower Parties or any other Person or against or in payment of any or all of the Obligations. To the extent that any of the Borrower Parties makes a payment or payments to the Administrative Agent or the Lenders, or the Administrative Agent or the Lenders enforce their Liens or exercise their rights of set-off, and such payment or payments or the proceeds of such enforcement or set-off or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by the Administrative Agent in its discretion) to be repaid to a trustee, receiver or any other party in connection with any insolvency proceeding, or otherwise, then (1) to the extent of such recovery the obligation or part thereof originally intended to be satisfied shall be revived and continued in full force and effect as if such payment had not been made or such enforcement or set-off had not occurred, and (2) each Lender severally agrees to pay to the Administrative Agent upon demand its ratable share of the total amount so recovered from or repaid by the Administrative Agent.
Appears in 8 contracts
Samples: Credit Agreement (Station Casinos LLC), Credit Agreement (Macerich Co), Credit Agreement (Macerich Co)
Marshalling; Payments Set Aside. Neither the Administrative Agent nor the Lenders any Lender shall be under any obligation to marshal any assets in favor of any of the Borrower Parties Obligor or any other Person or against or in payment of any or all of the Obligations. To the extent that any of the Borrower Parties Company makes a payment or payments to the Administrative Agent or the LendersAgent, or the Administrative Agent any Issuing Bank or the Lenders enforce their Liens (or exercise their rights to the Agent, on behalf of set-offLenders or any Issuing Bank), or any Agent, Issuing Bank or Lender enforces any security interests or exercises any right of setoff, and such payment or payments or the proceeds of such enforcement or the proceeds of such set-off or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by the Administrative Agent or such Lender in its discretion) to be repaid to a trustee, receiver or any other party party, in connection with any insolvency proceeding, Insolvency Proceeding or otherwise, then (1a) to the extent of such recovery the obligation or part thereof originally intended to be satisfied shall be revived and continued in full force and effect as if such payment had not been made or such enforcement or set-off had not occurred, occurred and (2b) each Lender severally agrees to pay to the Administrative Agent upon demand its ratable pro rata share of the total any amount so recovered from or repaid by the Administrative Agent.
Appears in 5 contracts
Samples: Restatement Agreement (CNO Financial Group, Inc.), Restatement Agreement (CNO Financial Group, Inc.), Restatement Agreement (CNO Financial Group, Inc.)
Marshalling; Payments Set Aside. Neither the Administrative Agent nor any Lender (including the Lenders L/C Issuer) shall be under any obligation to marshal any assets in favor of any of the Borrower Parties Loan Party or any other Person or against or in payment of any or all of the Secured Obligations. To the extent that any payment by or on behalf of the Borrower Parties makes a payment or payments is made to the Administrative any Agent or the Lendersany Lender, or the Administrative any Agent or the Lenders enforce their Liens or exercise their rights any Lender exercises its right of set-offsetoff, and such payment or payments or the proceeds of such enforcement or set-off setoff or any part thereof are is subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by the Administrative such Agent or such Lender in its discretion) to be repaid to a trustee, receiver or any other party party, in connection with any insolvency proceeding, proceeding under any Debtor Relief Law or otherwise, then (1a) to the extent of such recovery recovery, the obligation or part thereof originally intended to be satisfied satisfied, and all Liens, rights and remedies therefor or related thereto, shall be revived and continued in full force and effect as if such payment or payments had not been made or such enforcement or set-off setoff had not occurred, and (2b) each Lender severally agrees to pay to the Administrative Agent upon demand its ratable applicable share of the total any amount so recovered from or repaid by any Agent, plus interest thereon from the Administrative Agentdate of such demand to the date such payment is made at a rate per annum equal to the applicable Federal Funds Rate from time to time in effect.
Appears in 5 contracts
Samples: Assignment and Assumption (Fogo De Chao, Inc.), Credit Agreement (Quintiles Transnational Holdings Inc.), Credit Agreement (Quintiles Transnational Holdings Inc.)
Marshalling; Payments Set Aside. Neither None of the Administrative Agent nor Agent, the Lenders Banks or the Issuers shall be under any obligation to marshal xxxxxxxx any assets in favor of any of the Borrower Parties Company or any other Person or against or in payment of any or all of the Obligations. To the extent that any of the Borrower Parties Company makes a payment or payments to the Administrative Agent Agent, the Banks or the LendersIssuers, or the Administrative Agent Agent, the Banks or the Lenders enforce their Liens or Issuers exercise their rights right of set-off, and such payment or payments or the proceeds of such enforcement or set-off or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by the Administrative Agent Agent, such Bank or such Issuer in its discretion) to be repaid to a trustee, receiver or any other party party, in connection with any insolvency proceeding, Insolvency Proceeding or otherwise, then (1a) to the extent of such recovery the obligation or part thereof originally intended to be satisfied shall be revived and continued in full force and effect as if such payment had not been made or such enforcement or set-off had not occurred, and (2b) each Lender Bank severally agrees to pay to the Administrative Agent upon demand its ratable pro rata share of the total any amount so recovered from or repaid by the Administrative Agent.
Appears in 5 contracts
Samples: Credit Agreement (Mdu Resources Group Inc), Credit Agreement (Mdu Resources Group Inc), Credit Agreement (Mdu Resources Group Inc)
Marshalling; Payments Set Aside. Neither the Administrative Agent nor the Lenders any Lender shall be under any obligation to marshal xxxxxxxx any assets in favor of any of the Borrower Parties Company or any other Person or against or in payment of any or all of the Obligations. To the extent that any of the Borrower Parties Company makes a payment or payments to the Administrative Agent or the Lendersany Lender, or the Administrative Agent or the Lenders enforce their Liens or exercise their rights any Lender exercises its right of set-off, and such payment or payments or the proceeds of such enforcement or set-off or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by the Administrative Agent or such Lender in its discretion) to be repaid to a trustee, receiver or any other party party, in connection with any insolvency proceeding, Insolvency Proceeding or otherwise, then (1a) to the extent of such recovery the obligation or part thereof originally intended to be satisfied shall be revived and continued in full force and effect as if such payment had not been made or such enforcement or set-off had not occurred, and (2b) each Lender severally agrees to pay to the Administrative Agent upon demand its ratable pro rata share of the total any amount so recovered from or repaid by the Administrative Agent.
Appears in 3 contracts
Samples: Credit Agreement (Regis Corp), Credit Agreement (Regis Corp), Credit Agreement (Regis Corp)
Marshalling; Payments Set Aside. Neither None of the Administrative Agent nor Lenders, the Lenders Note Holders, or the Guaranteed Parties shall be under any obligation to marshal any assets in favor of any of the Borrower Parties Guarantor or any other Person or against or in payment of any or all of the Guaranteed Obligations. To the extent that any of the Borrower Parties Guarantor makes a payment or payments to the Administrative Agent or the LendersGuaranteed Parties, or the Administrative Agent or the Lenders enforce their Liens or Guaranteed Parties exercise their rights right of set-off, and such payment or payments or the proceeds of such enforcement or set-off or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by the Administrative Agent Guaranteed Parties in its their discretion) to be repaid to a trustee, receiver or any other party party, in connection with any insolvency proceeding, proceeding under any Debtor Relief Laws or otherwise, then (1a) to the extent of such recovery the obligation or part thereof originally intended to be satisfied shall be revived and continued in full force and effect as if such payment had not been made or such enforcement or set-off had not occurred, and (2b) each Lender severally agrees to pay to the Administrative Collateral Agent upon demand its ratable pro rata share of the total any amount so recovered from or repaid by the Administrative Collateral Agent.
Appears in 2 contracts
Samples: Subsidiary Guaranty (Arbitron Inc), Security Agreement (Arbitron Inc)
Marshalling; Payments Set Aside. Neither the Administrative Agent nor the Lenders shall be under any obligation to marshal any assets in favor of any of the Borrower Parties or any other Person or against or in payment of any or all of the Obligations. To the extent that any of the Borrower Parties makes a payment or payments to the Administrative Agent or the LendersLenders (through the Administrative Agent), or the Administrative Agent or on behalf of the Lenders enforce enforces their Liens or exercise their rights of set-off, and such payment or payments or the proceeds of such enforcement or set-off or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by the Administrative Agent in its discretion) to be repaid to a trustee, receiver or any other party in connection with any insolvency proceeding, or otherwise, then (1) to the extent of such recovery the obligation or part thereof originally intended to be satisfied shall be revived and continued in full force and effect as if such payment had not been made or such enforcement or set-off had not occurred, and (2) each Lender severally agrees to pay to the Administrative Agent upon demand its ratable share of the total amount so recovered from or repaid by the Administrative Agent.
Appears in 2 contracts
Samples: Pledge Agreement (Mentor Corp /Mn/), Credit Agreement (American Vanguard Corp)
Marshalling; Payments Set Aside. Neither the Agent, the Co-Administrative Agent nor the Lenders shall be under any obligation to marshal xxxxxxxx any assets in favor of any of the Borrower Parties Company or any other Person or against or in payment of any or all of the Obligations. To the extent that any of the Borrower Parties Company makes a payment or payments to the Agent, the Co-Administrative Agent or the Lenders, or the Agent, the Co-Administrative Agent or the Lenders enforce their Liens or exercise their rights right of set-off, and such payment or payments or the proceeds of such enforcement or set-off or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by the Agent, the Co-Administrative Agent or such Lender in its discretion) to be repaid to a trustee, receiver or any other party party, in connection with any insolvency proceeding, Insolvency Proceeding or otherwise, then (1a) to the extent of such recovery the obligation or part thereof originally intended to be satisfied shall be revived and continued in full force and effect as if such payment had not been made or such enforcement or set-off had not occurred, and (2b) each Lender severally agrees to pay to the Agent or the Co-Administrative Agent upon demand its ratable pro rata share of the total any amount so recovered from or repaid by the Agent or the Co-Administrative Agent.
Appears in 2 contracts
Marshalling; Payments Set Aside. Neither the Administrative Agent nor the Lenders any Lender shall be under any obligation to marshal any assets in favor of any of the Borrower Parties Obligor or any other Person or against or in payment of any or all of the Obligations. To the extent that any of the Borrower Parties Company makes a payment or payments to the Administrative Agent or the Lenders, or the Administrative Agent or the Lenders enforce their Liens (or exercise their rights to the Agent, on behalf of set-offthe Lenders), or any Agent or Lender enforces any security interests or exercises any right of setoff, and such payment or payments or the proceeds of such enforcement or the proceeds of such set-off or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by the Administrative Agent or such Lender in its discretion) to be repaid to a trustee, receiver or any other party party, in connection with any insolvency proceeding, Insolvency Proceeding or otherwise, then (1a) to the extent of such recovery the obligation or part thereof originally intended to be satisfied shall be revived and continued in full force and effect as if such payment had not been made or such enforcement or set-off had not occurred, occurred and (2b) each Lender severally agrees to pay to the Administrative Agent upon demand its ratable share Pro Rata Share of the total any amount so recovered from or repaid by the Administrative Agent.
Appears in 2 contracts
Samples: Credit Agreement (NMI Holdings, Inc.), Credit Agreement (NMI Holdings, Inc.)
Marshalling; Payments Set Aside. Neither the Administrative Agent nor the Lenders any Lender shall be under any obligation to marshal any assets in favor of any of the Borrower Parties Obligor or any other Person or against or in payment of any or all of the Obligations. To the extent that any of the Borrower Parties Company makes a payment or payments to the Administrative Agent or the Lenders, or the Administrative Agent or the Lenders enforce their Liens (or exercise their rights to the Agent, on behalf of set-offLenders), or any Agent or Lender enforces any security interests or exercises any right of setoff, and such payment or payments or the proceeds of such enforcement or the proceeds of such set-off or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by the Administrative Agent or such Lender in its discretion) to be repaid to a trustee, receiver or any other party party, in connection with any insolvency proceeding, Insolvency Proceeding or otherwise, then (1a) to the extent of such recovery the obligation or part thereof originally intended to be satisfied shall be revived and continued in full force and effect as if such payment had not been made or such enforcement or set-off had not occurred, occurred and (2b) each Lender severally agrees to pay to the Administrative Agent upon demand its ratable pro rata share of the total any amount so recovered from or repaid by the Administrative Agent.
Appears in 1 contract
Samples: Guarantee and Security Agreement (NMI Holdings, Inc.)
Marshalling; Payments Set Aside. Neither the ------------------------------- Administrative Agent nor the Lenders shall be under any obligation to marshal xxxxxxxx any assets in favor of any of the Borrower Parties Parent, the Company or any other Person or against or in payment of any or all of the Obligations. To the extent that any of the Borrower Parties Company makes a payment or payments to the Administrative Agent or the Lenders, or the Administrative Agent or the Lenders enforce their Liens or exercise their rights of set-off, and such payment or payments or the proceeds of such enforcement or set-off or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by the Administrative Agent in its discretion) to be repaid to a trustee, receiver or any other party in connection with any insolvency proceeding, or otherwise, then (1) to the extent of such recovery the obligation or part thereof originally intended to be satisfied shall be revived and continued in full force and effect as if such payment had not been made or such enforcement or set-off had not occurred, and (2) each Lender severally agrees to pay to the Administrative Agent upon demand its ratable share of the total amount so recovered from or repaid by the Administrative Agent.
Appears in 1 contract
Marshalling; Payments Set Aside. Neither the Administrative Agent nor the Lenders any Lender shall be under any obligation to marshal any assets in favor of any of the Borrower Parties Obligor or any other Person or against or in payment of any or all of the Obligations. To the extent that any of the Borrower Parties Company makes a payment or payments to the Administrative Agent or the LendersAgent, or the Administrative Agent Issuing Bank or the Lenders enforce their Liens (or exercise their rights to the Agent, on behalf of set-offLenders or Issuing Bank), or any Agent, Issuing Bank or Lender enforces any security interests or exercises any right of setoff, and such payment or payments or the proceeds of such enforcement or the proceeds of such set-off or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by the Administrative Agent or such Lender in its discretion) to be repaid to a trustee, receiver or any other party party, in connection with any insolvency proceeding, Insolvency Proceeding or otherwise, then (1a) to the extent of such recovery the obligation or part thereof originally intended to be satisfied shall be revived and continued in full force and effect as if such payment had not been made or such enforcement or set-off had not occurred, occurred and (2b) each Lender severally agrees to pay to the Administrative Agent upon demand its ratable pro rata share of the total any amount so recovered from or repaid by the Administrative Agent.. 113
Appears in 1 contract
Marshalling; Payments Set Aside. Neither None of the Administrative Agent nor Agent, the Lenders Banks or the Issuers shall be under any obligation to marshal xxxxxxxx any assets in favor of any of the Borrower Parties Company or any other Person or against or in payment of any or all of the Obligations. To the extent that any of the Borrower Parties Company makes a payment or payments to the Administrative Agent Agent, the Banks or the LendersIssuers, or the Administrative Agent Agent, the Banks or the Lenders enforce their Liens or Issuers exercise their rights right of set-off, and such payment or payments or the proceeds of such enforcement or set-off or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by the Administrative Agent Agent, such Bank or such Issuer in its discretion) to be repaid to a trustee, receiver or any other party party, in connection with any insolvency proceeding, Insolvency Proceeding or otherwise, then (1) to the extent of such recovery the obligation or part thereof originally intended to be satisfied shall be revived and continued in full force and effect as if such payment had not been made or such enforcement or set-off had not occurred, and (21) each Lender Bank severally agrees to pay to the Administrative Agent upon demand its ratable pro rata share of the total any amount so recovered from or repaid by the Administrative Agent.
Appears in 1 contract
Marshalling; Payments Set Aside. Neither the Administrative Agent nor the Lenders any Lender shall be under any obligation to marshal any assets in favor of any of the Borrower Parties or any other Person or against or in payment of any or all of the Obligations. To the extent that any of the Borrower Parties makes a payment or payments to the Administrative Agent or the Lenders, or the Administrative Agent or the Lenders enforce their Liens or exercise their rights of set-off, and such payment or payments or the proceeds of such enforcement or set-off or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by the Administrative Agent in its discretion) to be repaid to a trustee, receiver or any other party in connection with any bankruptcy or insolvency proceeding, or otherwise, then (1a) to the extent of such recovery the obligation or part thereof originally intended to be satisfied shall be revived and continued in full force and effect as if such payment had not been made or such enforcement or set-off had not occurred, and (2b) each Lender severally agrees to pay to the Administrative Agent upon demand its ratable share of the total amount so recovered from or repaid by the Administrative Agent.
Appears in 1 contract
Marshalling; Payments Set Aside. Neither the None of Administrative Agent nor the or Lenders shall be under any obligation to marshal any assets in favor of any of the Borrower Parties or any other Person or against or in payment of any or all of the Obligations. To the extent that any payment by or on behalf of the any Borrower Parties makes a payment or payments is made to the Administrative Agent Agent, the L/C Issuer or the Lendersany Lender, or the Administrative Agent Agent, the L/C Issuer or the Lenders enforce their Liens or exercise their rights any Lender exercises its right of set-offsetoff, and such payment or payments or the proceeds of such enforcement or set-off setoff or any part thereof are is subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by the Administrative Agent Agent, the L/C Issuer or such Lender in its discretion) to be repaid to a trustee, receiver or any other party party, in connection with any insolvency proceeding, proceeding under any Debtor Relief Law or otherwise, then (1a) to the extent of such recovery recovery, the obligation or part thereof originally intended to be satisfied shall be revived and continued in full force and effect as if such payment had not been made or such enforcement or set-off had not occurred, and (2) each Lender severally agrees to pay to the Administrative Agent upon demand its ratable share of the total amount so recovered from or repaid by the Administrative Agent.132 #500021837_v16
Appears in 1 contract
Marshalling; Payments Set Aside. Neither the Administrative Agent nor the Lenders shall be under any obligation to marshal any assets in favor of any of the Borrower Parties or any other Person or against or in payment of any or all of the Obligations. To the extent that any of the Borrower Parties makes a payment or payments to the Administrative Agent or the Lenders, or the Administrative Agent or the Lenders enforce their Liens or exercise their rights of set-off, and such payment or payments or the proceeds of such enforcement or set-set- off or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by the Administrative Agent in its discretion) to be repaid to a trustee, receiver or any other party in connection with any insolvency proceeding, or otherwise, then (1) to the extent of such recovery the obligation or part thereof originally intended to be satisfied shall be revived and continued in full force and effect as if such payment had not been made or such enforcement or set-off had not occurred, and (2) each Lender severally agrees to pay to the Administrative Agent upon demand its ratable share of the total amount so recovered from or repaid by the Administrative Agent.
Appears in 1 contract
Samples: Junior Mezzanine Credit Agreement (Technical Olympic Usa Inc)
Marshalling; Payments Set Aside. Neither the Administrative Collateral Agent, the Agent ------------------------------- nor the Lenders Banks shall be under any obligation to marshal any assets in favor of any of the Borrower Parties or any other Person or against or in payment of any or all of the Obligations. To the extent that any of the Borrower Parties makes a payment or payments to the Administrative Collateral Agent, the Agent or the LendersBanks, or the Administrative Collateral Agent, the Agent or the Lenders enforce their Liens or Banks exercise their rights right of set-off, and such payment or payments or the proceeds of such enforcement or set-off or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by the Administrative Collateral Agent, the Agent or such Bank in its discretion) to be repaid to a trustee, receiver or any other party party, in connection with any insolvency proceeding, Insolvency Proceeding or otherwise, then (1a) to the extent of such recovery the obligation or part thereof originally intended to be satisfied shall be revived and continued in full force and effect as if such payment had not been made or such enforcement or set-off had not occurred, and (2b) each Lender Bank severally agrees to pay to the Administrative Agent or the Collateral Agent, as the case may be, upon demand its ratable share Pro Rata Share of the total any amount so recovered from or repaid by the Administrative Agent or the Collateral Agent, as the case may be.
Appears in 1 contract
Marshalling; Payments Set Aside. Neither the Administrative Agent nor the Lenders any Lender shall be under any obligation to marshal any assets in favor of any of the Borrower Parties Obligor or any other Person or against or in payment of any or all of the Obligations. To the extent that any of the Borrower Parties makes Borrowers make a payment or payments to the Administrative Agent or the Lenders, or the Administrative Agent or the Lenders enforce their Liens (or exercise their rights to the Agent, on behalf of set-offLenders), or any Agent or Lender enforces any security interests or exercises any right of setoff, and such payment or payments or the proceeds of such enforcement or the proceeds of such set-off or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by the Administrative Agent or such Lender in its discretion) to be repaid to a trustee, receiver or any other party party, in connection with any insolvency proceeding, Insolvency Proceeding or otherwise, then (1a) to the extent of such recovery the obligation or part thereof originally intended to be satisfied shall be revived and continued in full force and effect as if such payment had not been made or such enforcement or set-off had not occurred, occurred and (2b) each Lender severally agrees to pay to the Administrative Agent upon demand its ratable pro rata share of the total any amount so recovered from or repaid by the Administrative Agent.
Appears in 1 contract
Marshalling; Payments Set Aside. Neither the Administrative Agent nor the Lenders shall be under any obligation to marshal xxxxxxxx any assets in favor of any of the Borrower Parties Company or any other Person or against or in payment of any or all of the Obligations. To the extent that any of the Borrower Parties Company makes a payment or payments to the Administrative Agent or the LendersLenders (through the Administrative Agent), or the Administrative Agent or on behalf of the Lenders enforce enforces their Liens or exercise their rights of set-off, and such payment or payments or the proceeds of such enforcement or set-off or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by the Administrative Agent in its discretion) to be repaid to a trustee, receiver or any other party in connection with any insolvency proceeding, or otherwise, then (1) to the extent of such recovery the obligation or part thereof originally intended to be satisfied shall be revived and continued in full force and effect as if such payment had not been made or such enforcement or set-off had not occurred, and (2) each Lender severally agrees to pay to the Administrative Agent upon demand its ratable share of the total amount so recovered from or repaid by the Administrative Agent.
Appears in 1 contract
Samples: Credit Agreement (Seracare Inc)
Marshalling; Payments Set Aside. Neither the Administrative Agent nor the Lenders Credit Support Providers shall be under any obligation to marshal any marsxxxx xxx assets in favor of any of the Borrower Parties Company or any other Person or against or in payment of any or all of the L/C Obligations. To the extent that any of the Borrower Parties Company makes a payment or payments to the Administrative Agent or the LendersCredit Support Providers (through the Agent), or the Administrative Agent or on behalf of the Lenders enforce Credit Support Providers enforces their Liens or exercise their rights of set-off, and such payment or payments or the proceeds of such enforcement or set-off or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by the Administrative Agent in its discretion) to be repaid to a trustee, receiver or any other party in connection with any insolvency proceeding, or otherwise, then (1) to the extent of such recovery the obligation or part thereof originally intended to be satisfied shall be revived and continued in full force and effect as if such payment had not been made or such enforcement or set-off had not occurred, and (2) each Lender Credit Support Provider severally agrees to pay to the Administrative Agent upon demand its ratable share of the total amount so recovered from or repaid by the Administrative Agent.
Appears in 1 contract
Marshalling; Payments Set Aside. Neither the Administrative Collateral Agent, the Agent nor the Lenders Banks shall be under any obligation to marshal any assets in favor of any of the Borrower Parties or any other Person or against or in payment of any or all of the Obligations. To the extent that any of the Borrower Parties makes a payment or payments to the Administrative Collateral Agent, the Agent or the LendersBanks, or the Administrative Collateral Agent, the Agent or the Lenders enforce their Liens or Banks exercise their rights right of set-off, and such payment or payments or the proceeds of such enforcement or set-off or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by the Administrative Collateral Agent, the Agent or such Bank in its discretion) to be repaid to a trustee, receiver or any other party party, in connection with any insolvency proceeding, Insolvency Proceeding or otherwise, then (1a) to the extent of such recovery the obligation or part thereof originally intended to be satisfied shall be revived and continued in full force and effect as if such payment had not been made or such enforcement or set-off had not occurred, and (2b) each Lender Bank severally agrees to pay to the Administrative Agent or the Collateral Agent, as the case may be, upon demand its ratable pro rata share of the total any amount so recovered from or repaid by the Administrative Agent or the Collateral Agent, as the case may be.
Appears in 1 contract
Marshalling; Payments Set Aside. Neither the Administrative Agent nor the Lenders shall be under any obligation to marshal any assets in favor of any of the Borrower Parties or any other Person or against or in payment of any or all of the Obligations. To the extent that any payment by or on behalf of the Borrower Parties makes a payment or payments is made to the Administrative Agent or the Lendersany Lender, or the Administrative Agent or the Lenders enforce their Liens or exercise their rights any Lender exercises its right of set-off, and such payment or payments or the proceeds of such enforcement or set-off or any part thereof are is subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by the Administrative Agent or such Lender in its discretion) to be repaid to a trustee, receiver or any other party party, in connection with any insolvency proceeding, proceeding under any Debtor Relief Law or otherwise, then (1a) to the extent of such recovery recovery, the obligation or part thereof originally intended to be satisfied shall be revived and continued in full force and effect as if such payment had not been made or such enforcement or set-off had not occurred, and (2b) each Lender severally agrees to pay to the Administrative Agent upon demand its ratable applicable share of the total any amount so recovered from or repaid by the Administrative Agent, plus interest thereon from the date of such demand to the date such payment is made at a rate per annum equal to the Federal Funds Rate from time to time in effect.
Appears in 1 contract
Samples: Assignment and Assumption Agreement (Plum Creek Timber Co Inc)
Marshalling; Payments Set Aside. Neither the Administrative Agent nor the Lenders any Lender shall be under any obligation to marshal any assets in favor of any of the Borrower Parties Obligor or any other Person or against or in payment of any or all of the Obligations. To the extent that any of the Borrower Parties makes a payment or payments to the Administrative Agent or the Lenders, or the Administrative Agent or the Lenders enforce their Liens (or exercise their rights to the Agent, on behalf of set-offLenders), or any Agent or Lender enforces any security interests or exercises any right of setoff, and such payment or payments or the proceeds of such enforcement or the proceeds of such set-off or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by the Administrative Agent or such Lender in its discretion) to be repaid to a trustee, receiver or any other party party, in connection with any insolvency proceeding, Insolvency Proceeding or otherwise, then (1a) to the extent of such recovery the obligation or part thereof originally intended to be satisfied shall be revived and continued in full force and effect as if such payment had not been made or such enforcement or set-off had not occurred, occurred and (2b) each Lender severally agrees to pay to the Administrative Agent upon demand its ratable pro rata share of the total any amount so recovered from or repaid by the Administrative Agent.
Appears in 1 contract
Marshalling; Payments Set Aside. Neither the Administrative Agent nor the Lenders shall be under any obligation to marshal any assets in favor of any of the Borrower Parties Loan Party or any other Person or against or in payment of any or all of the Secured Obligations. To the extent that any of the Borrower Parties makes a payment or payments to the Administrative Agent or the LendersLenders (through the Administrative Agent), or the Administrative Agent or on behalf of the Lenders enforce enforces their Liens or exercise their rights of set-off, and such payment or payments or the proceeds of such enforcement or set-off or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by the Administrative Agent in its discretion) to be repaid to a trustee, receiver or any other party in connection with any insolvency proceeding, or otherwise, then (1) to the extent of such recovery the obligation or part thereof originally intended to be satisfied shall be revived and continued in full force and effect as if such payment had not been made or such enforcement or set-off had not occurred, and (2) each Lender severally agrees to pay to the Administrative Agent upon demand its ratable share of the total amount so recovered from or repaid by the Administrative Agent.
Appears in 1 contract
Marshalling; Payments Set Aside. Neither the Administrative any Agent nor the Lenders any Lender shall be under any obligation to marshal xxxxxxxx any assets in favor of any of the Borrower Parties Company or any other Person or against or in payment of any or all of the Obligations. To the extent that any of the Borrower Parties Company makes a payment or payments to the Administrative any Agent or the Lendersany Lender, or the Administrative any Agent or the Lenders enforce their Liens or any Lender exercise their its rights of set-off, and such payment or payments or the proceeds of such enforcement or set-off or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by the Administrative Agent in its discretion) to be repaid to a trustee, receiver or any other party in connection with any insolvency proceedingInsolvency Proceeding, or otherwise, then (1a) to the extent of such recovery the obligation or part thereof originally intended to be satisfied shall be revived and continued in full force and effect as if such payment had not been made or such enforcement or set-off had not occurred, and (2b) each Lender severally agrees to pay to the Administrative Agent upon demand its ratable share of the total amount so recovered from or repaid by the Administrative Agent.
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Samples: Credit Agreement (LKQ Corp)
Marshalling; Payments Set Aside. Neither the Administrative Agent nor the Lenders shall be under any obligation to marshal any assets in favor of any of the Borrower Transaction Parties or any other Person or against or in payment of any or all of the Obligations. To the extent that any of the Borrower Transaction Parties makes a payment or payments to the Administrative Agent or the Lenders, or the Administrative Agent or the Lenders enforce their Liens or exercise their rights of set-off, and such payment or payments or the proceeds of such enforcement or set-off or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by the Administrative Agent in its discretion) to be repaid to a trustee, receiver or any other party in connection with any insolvency proceeding, or otherwise, then (1) to the extent of such recovery the obligation or part thereof originally intended to be satisfied shall be revived and continued in full force and effect as if such payment had not been made or such enforcement or set-off had not occurred, and (2) each Lender severally agrees to pay to the Administrative Agent upon demand its ratable share of the total amount so recovered from or repaid by the Administrative Agent.
Appears in 1 contract
Samples: Loan and Security Agreement (CNL Hotels & Resorts, Inc.)