Payments Avoided. If an amount paid to any Secured Creditor under any Bond Document is capable of being avoided or otherwise set aside on the liquidation, administration, winding-up or other similar proceedings in the jurisdiction of the person by whom such payment was made, then such amount shall not be considered to have been finally and irrevocably paid for the purposes hereof.
Payments Avoided. If any payment received on account of any reimbursement obligation in respect of a Letter of Credit and distributed to a Bank as a participant under this Section 2.05 is thereafter set aside, avoided or recovered from the Issuing Bank in connection with any receivership, liquidation, reorganization or bankruptcy proceeding relating to the Borrower, each Bank that received a distribution in respect of such payment shall, upon demand by the Agent, pay to the Issuing Bank the amount of such distribution received by such Bank.
Payments Avoided. If any payment made to the Supervisor or to any Holder by or on behalf of any Guaranteeing Subsidiary be voided by law such payment shall be deemed not to have discharged or affected the liability of each Guaranteeing Subsidiary and in that event the Supervisor and each Guaranteeing Subsidiary shall be restored to the position in which each would have been and be entitled to exercise all the rights which each would have had if such payment had not been made.
Payments Avoided. 23 (i) Issuing Bank....................................................... 23 (j) Role of Issuing Bank............................................... 23 (k) Existing Letters of Credit......................................... 24 (l) Amendment and Renewal of Letters of Credit......................... 24 (m) Repayment and Cash Collateralization............................... 24
