Common use of Payment Invalidated Clause in Contracts

Payment Invalidated. If, during the course of, or pursuant to, any Bankruptcy Proceeding, a Secured Party (the "RETURNING SECURED PARTY") is required by a court or other tribunal of competent jurisdiction to disgorge, refund, rebate or otherwise return any distribution of any Sharing Payments received by such Secured Party pursuant to Section 2 hereof (such Returning Secured Party's portion of such payment or distribution referred to herein as a "DISPUTED PAYMENT") received by such Returning Secured Party to any trustee presiding over such Bankruptcy Proceeding or to any other Person (whether by reason of the fact that such Disputed Payment constituted or was alleged to constitute a preference, a fraudulent conveyance or for such other reason as such court or tribunal shall specify), each other Secured Party shall immediately pay to the Returning Secured Party its pro rata share of such Disputed Payment from amounts actually received by such other Secured Party. For purposes of this Section 4, such pro rata share shall be calculated as of the date the Returning Secured Party is required to make such payment to any such trustee or other Person.

Payment Invalidated. If, during the course of, or pursuant to, any Bankruptcy Proceeding, a Secured Party (the "RETURNING SECURED PARTYReturning Lender") is required by a court or other tribunal of competent jurisdiction to disgorge, refund, rebate or otherwise return any distribution of any Sharing Payments or of other funds received by such Secured Party pursuant to Section 2 hereof (such Returning Secured PartyLender's portion of such payment or distribution referred to herein as a "DISPUTED PAYMENTDisputed Payment") received by such Returning Secured Party ), to any trustee presiding over such Bankruptcy Proceeding or to any other Person (whether by reason of the fact that such Disputed Payment constituted or was alleged to constitute a preference, a fraudulent conveyance or for such other reason as such court or tribunal shall specify), each other Secured Party shall immediately pay to the Returning Secured Party Lender its pro rata share Proportionate Share of such Disputed Payment from amounts actually received by such other Secured Party. For purposes of this Section 46, such pro rata share Proportionate Share shall be calculated as of the date the Returning Secured Party Lender is required to make such payment to any such trustee or other Person.

Payment Invalidated. If, during the course of, or pursuant to, any Bankruptcy Proceeding, a Secured Party (the "RETURNING SECURED PARTYReturning Lender") is required by a court or other tribunal of competent jurisdiction to disgorge, refund, rebate or otherwise return any distribution of any Sharing Payments Proceeds or of other funds received by such Secured Party pursuant to Section 2 hereof (such Returning Secured PartyLender's portion of such payment or distribution referred to herein as a "DISPUTED PAYMENTDisputed Payment") received by such Returning Secured Party ), to any trustee presiding over such Bankruptcy Proceeding or to any other Person (whether by reason of the fact that such Disputed Payment constituted or was alleged to constitute a preference, a fraudulent conveyance or for such other reason as such court or tribunal shall specify), each other Secured Party shall immediately pay to the Returning Secured Party Lender its pro rata share Proportionate Share of such Disputed Payment from amounts actually received by such other Secured Party. For purposes of this Section 46, such pro rata share Proportionate Share shall be calculated as of the date the Returning Secured Party Lender is required to make such payment to any such trustee or other Person.