Common use of Recovered Payments Clause in Contracts

Recovered Payments. The Obligations shall be deemed not to have been paid, observed or performed, and each Pledgor’s obligations under the Collateral Documents in respect thereof shall continue and not be discharged, to the extent that any payment, observance or performance thereof by any guarantor, or out of the proceeds of any other collateral, is recovered from or paid over by or for the account of the Security Agent for any reason, including as a preference or fraudulent transfer or by virtue of any subordination (whether present or future or contractual or otherwise) of the Obligations, whether such recovery or payment over is effected by any judgment, decree or order of any court or governmental agency, by any plan of reorganization or by settlement or compromise by the Security Agent (whether or not consented to by any Pledgor or any guarantor) of any claim for any such recovery or payment over. Each Pledgor hereby expressly waives the benefit of any applicable statute of limitations and agrees that it shall be obligated hereunder with respect to any Obligations whenever such a recovery or payment over occurs.

Recovered Payments. The Secured Obligations shall be deemed not to have been paid, observed or performed, and each Pledgor’s obligations under the Collateral Documents in respect thereof shall continue and not be discharged, to the extent that any payment, observance or performance thereof by any guarantor, or out of the proceeds of any other collateral, is recovered from or paid over by or for the account of the Security Agent Secured Party for any reason, including as a preference or fraudulent transfer or by virtue of any subordination (whether present or future or contractual or otherwise) of the Secured Obligations, whether such recovery or payment over is effected by any judgment, decree or order of any court or governmental agency, by any plan of reorganization or by settlement or compromise by the Security Agent Secured Party (whether or not consented to by any Pledgor or any guarantor) of any claim for any such recovery or payment over. Each Pledgor hereby expressly waives the benefit of any applicable statute of limitations and agrees that it shall be obligated hereunder with respect to any Secured Obligations whenever such a recovery or payment over occurs.

Recovered Payments. The Guaranteed Obligations shall be deemed not to have been paid, observed or performed, and each Pledgor’s the Guarantor's obligations under the Collateral Documents hereunder in respect thereof shall continue and not be discharged, to the extent that any payment, observance or performance payment thereof by any guarantorCogenex or the Guarantor, or out of the proceeds of any other collateral, is recovered from or paid over by or for the account of the Security Agent for any reason, including Guaranteed Parties as a preference or fraudulent transfer or by virtue of any subordination (whether present or future or contractual or otherwise) of the Guaranteed Obligations, whether such recovery or payment over is effected by any judgment, decree or order of any court or governmental agency, by any plan of reorganization or by settlement or compromise by the Security Agent Guaranteed Parties (whether or not consented to by any Pledgor Cogenex, the Guarantor or any other guarantor) of any claim for any such recovery or payment over. Each Pledgor The Guarantor hereby expressly waives waives, to the extent permitted by Applicable Law, the benefit of any applicable statute of limitations and agrees that it shall be obligated liable hereunder with respect to any Obligations whenever such a recovery or payment over occurs.

Recovered Payments. The Secured Obligations shall be deemed not to have been paid, observed or performed, and each the Pledgor’s 's obligations under the Collateral Documents Transaction Agreements in respect thereof shall continue and not be discharged, to the extent that any payment, observance or performance thereof by the Companies or any guarantor, or out of the proceeds of any other collateral, is recovered from or paid over by or for the account of the Security Agent Holders for any reason, including as a preference or fraudulent transfer or by virtue of any subordination (whether present or future or contractual or otherwise) of the Secured Obligations, whether such recovery or payment over is effected by any judgment, decree or order of any court or governmental agency, by any plan of reorganization or by settlement or compromise by the Security Agent Holders (whether or not consented to by any the Companies, the Pledgor or any guarantor) of any claim for any such recovery or payment over. Each The Pledgor hereby expressly waives the benefit of any applicable statute of limitations and agrees that it shall be obligated hereunder with respect to any Secured Obligations whenever such a recovery or payment over occurs.