Preferential Payments. Guarantor agrees that to the extent that Borrower makes a payment or payments to Lender, which payment or payments or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside or required, for any of the foregoing reasons or for any other reasons, to be repaid or paid over to a custodian, trustee, receiver or any other party under any bankruptcy act, state or federal law, common law or equitable cause, then to the extent of such payment or repayment, the obligation or part thereof intended to be satisfied shall be revived and continued in full force and effect as if such payment had not been made.
Preferential Payments. Notwithstanding anything to the contrary contained in this Agreement or in any other Loan Document, if any amount paid on account of the Obligations is subsequently invalidated, declared to be fraudulent or preferential, set aside or required to be repaid by any Lender or the Administrative Agent or paid over to a trustee, receiver or any other entity, whether under any bankruptcy act or otherwise (such payment, a “Preferential Payment”), then, to the extent of such Preferential Payment, the Obligations 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.
Preferential Payments. In the event of the appointment of a receiver, administrator or liquidator of the Customer, if either the Bank or the Lender receives any preferential payment arising from the rules of Insolvency that preferential payment shall not be treated as reducing the Bank’s [Priority/Sharing Limit] nor the Lender’s [Priority/Sharing Limit], as the case may be. Unless independent action is considered necessary by either of the Parties to protect their security interests, the Bank and the Lender will:
Preferential Payments. The guaranty provided under Section 1 shall include the full and complete payment of the amount of any claim on any Guaranteed Obligation paid by Subsidiary which is subsequently voided in whole or in part as a preferential payment under applicable law, including proceedings in bankruptcy, insolvency, reorganization or other similar laws affecting creditor’s rights generally.
Preferential Payments. Borrower agrees that to the extent Borrower makes any payment to Bank in connection with the indebtedness evidenced by this Note, and all or any part of such payment is subsequently invalidated, declared to be fraudulent or preferential, set aside or required to be repaid by Bank or paid over to a trustee, receiver or any other entity, whether under any bankruptcy act or otherwise (any such payment is hereinafter referred to as a “Preferential Payment”), then the indebtedness of Borrower under this Note shall continue or shall be reinstated, as the case may be, and, to the extent of such payment or repayment by Bank, the indebtedness evidenced by this Note or part thereof intended to be satisfied by such Preferential Payment shall be revived and continued in full force and effect as if said Preferential Payment had not been made.
Preferential Payments. The ranking provisions in this Agreement shall not prejudice the right of BoS to receive Preferential Payments provided that any Preferential Payments payable shall not be counted towards repayment of BoS Debt for the purposes of calculating the extent of any priority to which BoS is entitled under Clause 1.
Preferential Payments. Guarantor further agrees that to the extent a Tenant or Guarantor makes any payment to Landlord in connection with such Tenant’s Obligations and all or any part of such payment is subsequently invalidated, declared to be fraudulent or preferential, set aside or required to be repaid by Landlord or paid over to a trustee, receiver or any other entity, whether under any bankruptcy act or otherwise (any such payment is hereinafter referred to as a “Preferential Payment”), then this Guaranty shall continue to be effective or shall be reinstated, as the case may be, and, to the extent of such payment or repayment by Landlord, such Tenant’s Obligations or part thereof intended to be satisfied by such Preferential Payment shall be revived and continued in full force and effect as if such Preferential Payment had not been made.
Preferential Payments. (a) Subject to the preferential rights of the holders of any class or series of Partnership Units ranking senior to the Series 2019 Private Perpetual Preferred Units as to distributions, the holders of the Series 2019 Private Perpetual Preferred Units shall be entitled to receive, when, as and if authorized and declared by the General Partner out of funds legally available for that purpose, cumulative preferential payments in cash at a fixed annual amount of $0.70 per unit, or $0.175 per quarter (“Series 2019 Quarterly Preference Payments”). Series 2019 Quarterly Preference Payments shall accrue on each Series 2019 Private Perpetual Preferred Unit and be cumulative from, and including, the later of (i) October 1, 2019, or (ii) the day immediately following the date of the last Series 2019 Quarterly Preference Payment that has been paid in full in accordance with Section 3(e), and shall thereafter be payable quarterly in arrears on each Series 2019 Quarterly Payment Date (as defined below); provided, however, that if any Series 2019 Quarterly Payment Date falls on a date other than a Business Day, then the Series 2019 Quarterly Preference Payment that would otherwise have been payable on such Series 2019 Quarterly Payment Date shall be paid on the first Business Day immediately following such Series 2019 Quarterly Payment Date. Series 2019 Quarterly Preference Payments will be payable to the holder(s) of record of Series 2019 Private Perpetual Preferred Units as they appear in the records of the Partnership on the applicable Partnership Record Date established by the General Partner for regular quarterly distributions of Available Cash pursuant to Section 5.01 of the Partnership Agreement to holders of OP Units; provided, however, than not more than four Series 2019 Quarterly Preference Payments per year shall be made to holders of Series 2019 Private Perpetual Preferred Units. The amount of any Series 2019 Quarterly Preference Payment made on the Series 2019 Private Perpetual Preferred Units for any period other than a full quarter shall be computed on the basis of a 360-day year consisting of twelve 30-day months. Notwithstanding any provision to the contrary contained herein, each outstanding Series 2019 Private Perpetual Preferred Unit shall be entitled to receive a Series 2019 Quarterly Preference Payment with respect to any Series 2019 Quarterly Payment Date equal to the amount paid with respect to each other Series 2019 Private Perpetual Preferred Un...
Preferential Payments. If all or part of any proportionately greater payment received by a Purchasing Lender referred to in Section 11.22.1 or a Purchasing Secured Party referenced to in Section 11.22.2 is found to have been a transfer in fraud of creditors or a preferential payment under any applicable Insolvency Law or Fraudulent Conveyances Law or is otherwise required to be returned by such Purchasing Lender or Purchasing Secured Party, such purchase shall be rescinded and the purchase price paid for such participation shall be returned by such Selling Lender or Selling Secured Party to the extent of such amount returned, together with interest thereon at such Purchasing Lender’s or Purchasing Secured Party’s prevailing rate for overnight deposits of comparable amount calculated and payable from the Business Day following the day such return is requested until it is paid in full.
Preferential Payments. Each of the Obligors shall punctually pay, as they become due, subject to any applicable grace periods, all debts and liabilities which by law would have priority over the Secured Liabilities (except to the extent that any such amounts are being contested in good faith and where adequate reserves are set aside for any such payment).
