Common use of Obligations Reinstated Clause in Contracts

Obligations Reinstated. The obligations of each Guarantor and the Subordinated Guarantor hereunder shall continue to be effective or shall be reinstated, as the case may be, if at any time any payment which would otherwise have reduced the obligations of any Guarantor and the Subordinated Guarantor hereunder (whether such payment shall have been made by or on behalf of the Issuer or by or on behalf of a Guarantor and the Subordinated Guarantor) is rescinded or reclaimed from any of the Holders upon the insolvency, bankruptcy, liquidation or reorganization of the Issuer or any Guarantor or the Subordinated Guarantor or otherwise, all as though such payment had not been made. If demand for, or acceleration of the time for, payment by the Issuer is stayed upon the insolvency, bankruptcy, liquidation or reorganization of the Issuer, all such Indebtedness otherwise subject to demand for payment or acceleration shall nonetheless be payable by each Guarantor or the Subordinated Guarantor as provided herein.

Obligations Reinstated. The obligations of each Guarantor and the Subordinated Guarantor U.S. Issuer hereunder shall continue to be effective or shall be reinstated, as the case may be, if at any time any payment which would otherwise have reduced the obligations of any Guarantor and or the Subordinated Guarantor U.S. Issuer hereunder (whether such payment shall have been made by or on behalf of the Issuer Issuers or by or on behalf of a Guarantor and or the Subordinated GuarantorU.S. Issuer) is rescinded or reclaimed from any of the Holders upon the insolvency, bankruptcy, liquidation or reorganization of the either Issuer or any Guarantor or the Subordinated Guarantor or otherwise, all as though such payment had not been made. If demand for, or acceleration of the time for, payment by the Issuer Issuers is stayed upon the insolvency, bankruptcy, liquidation or reorganization of the IssuerIssuers, all such Indebtedness otherwise subject to demand for payment or acceleration shall nonetheless be payable by each Guarantor or the Subordinated Guarantor U.S. Issuer as provided herein.