Common use of Recovered Payments Clause in Contracts

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 the Borrower or any guarantor, or out of the proceeds of any other collateral, is recovered from or paid over by or for the account of any 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 any Secured Party (whether or not consented to by the Borrower, a 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 thereof occurs.

Recovered Payments. The Secured 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 this Agreement in respect thereof shall continue and not be discharged, to the extent that any payment, observance or performance thereof by the Borrower US Holdings or any other guarantor, or any payment out of the proceeds of any other collateral, is recovered from or paid over by or for the account of any Secured Guaranteed 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 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 any Secured Guaranteed Party (whether or not consented to by US Holdings, the Borrower, a Pledgor Guarantor or any other guarantor) of any claim for any such recovery or payment over. Each Pledgor To the extent permitted by Applicable Law, the Guarantor hereby expressly waives the benefit of any applicable statute of limitations and agrees that it shall be obligated hereunder liable under this Agreement with respect to any Secured Obligations Guaranteed Obligation whenever such a recovery or payment over thereof occurs.

Recovered Payments. The Secured Guaranteed Obligations shall be deemed not to have been paid, observed or performed, and each Pledgor’s Mobile Energy's obligations under the Collateral Documents this Guaranty in respect thereof shall continue and not be discharged, to the extent that any payment, observance or performance thereof by the Borrower Company or any other guarantor, or out of the proceeds of any other collateral, is recovered from or paid over by or for the account of any Secured Party the IDB or the Tax-Exempt Indenture Trustee 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 Guaranteed Obligations, whether such recovery or payment over is effected by any judgment, decree or order of any court or governmental agencyGovernmental Authority, by any plan of reorganization or by settlement or compromise by any Secured Party the IDB or the Tax-Exempt Indenture Trustee (whether or not consented to by either of the Borrower, a Pledgor Mobile Energy Parties or any other guarantor) of any claim for any such recovery or payment over. Each Pledgor To the extent not prohibited by applicable Law, Mobile Energy hereby expressly waives the benefit of any applicable statute of limitations and agrees that it shall be obligated liable hereunder with respect to any Secured Obligations Guaranteed Obligation whenever such a recovery or payment over thereof occurs.

Recovered Payments. The Secured 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 the Borrower or any guarantorthe Guarantor, or out of the proceeds of any other collateral, is recovered from or paid over by or for the account of any Secured Party the Guaranteed Parties for any reason, including as a preference or fraudulent transfer or by virtue of any subordination (whether present or future or contractual or otherwise; provided that, if such subordination is contractual, the Guarantor shall have consented thereto in writing) of the Secured 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 any Secured Party the Guaranteed Parties (whether or not consented to by the Borrower, a Pledgor the Guarantor or any other guarantor) of any claim for any such recovery or payment over. Each Pledgor The Guarantor hereby expressly waives the benefit of any applicable statute of limitations and agrees that it shall be obligated liable hereunder with respect to any Secured Obligations whenever such a recovery or payment over thereof occurs.