Common use of Preferences Clause in Contracts

Preferences. To the extent Borrower makes a payment or payments to Lender, which payment or proceeds or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside or required to be repaid to a trustee, receiver or any other party under any bankruptcy law, state or federal law, common law or equitable cause, then, to the extent of such payment or proceeds received, the obligations hereunder or part thereof intended to be satisfied shall be revived and continue in full force and effect, as if such payment or proceeds had not been received by Lender.

Appears in 41 contracts

Samples: Loan Agreement (MPG Office Trust, Inc.), Loan Agreement (Glimcher Realty Trust), Loan and Security Agreement (Bloomin' Brands, Inc.)

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Preferences. To the extent Borrower makes Borrowers make a payment or payments to Lender, which payment or proceeds or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside or required to be repaid to a trustee, receiver or any other party under any bankruptcy law, state or federal law, common law or equitable cause, then, to the extent of such payment or proceeds received, the obligations hereunder or part thereof intended to be satisfied shall be revived and continue in full force and effect, as if such payment or proceeds had not been received by Lender.

Appears in 3 contracts

Samples: Loan Agreement (Prime Retail Lp), Loan Agreement (Horizon Group Properties Inc), Loan Agreement (Prime Retail Lp)

Preferences. To the extent Borrower makes a payment or payments to Lender, or Lender receives proceeds of any collateral, which payment is in whole or proceeds or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside or required to be repaid to a trustee, receiver or any other party under any bankruptcy law, state or federal law, common law or equitable cause, then, to the extent of such payment or proceeds received, the obligations hereunder Debt or part thereof intended to be satisfied shall be revived and continue in full force and effect, as if such payment or proceeds had not been received by Lender.

Appears in 1 contract

Samples: Loan Agreement (United Investors Realty Trust)

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Preferences. To the extent Borrower makes a payment or payments to Lender, which payment or proceeds or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside or required to be repaid to a trustee, receiver or any other party under any bankruptcy lawCreditors’ Rights Laws, state or federal law, common law or equitable cause, then, to the extent of such payment or proceeds received, the obligations hereunder or part thereof intended to be satisfied shall be revived and continue in full force and effect, as if such payment or proceeds had not been received by Lender.

Appears in 1 contract

Samples: Loan Agreement (Sunstone Hotel Investors, Inc.)

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