Common use of Recovery of Payment Clause in Contracts

Recovery of Payment. If any payment received by Lender from Borrower or any other obligor and applied to the Guaranteed Obligations is subsequently set aside, recovered, rescinded or required to be returned for any reason (including, without limitation, the bankruptcy, insolvency or reorganization of Borrower or any other obligor), the Guaranteed Obligations to which such payment was applied will for the purposes of this Guaranty be deemed to have continued in existence, notwithstanding such application, and this Guaranty will be enforceable against Guarantor as to such Guaranteed Obligations as fully as if such application had never been made.

Recovery of Payment. If any payment received by Lender from Borrower the Banks or any other obligor the ------------------- Agent and applied to the Guaranteed Guarantied Obligations is subsequently set aside, recovered, rescinded rescinded, or required to be returned for any reason (including, without limitation, including but not limited to the bankruptcy, insolvency insolvency, or reorganization of Borrower the Company or any other obligor), the Guaranteed Guarantied Obligations to which such payment was applied will shall for the purposes of this Guaranty be deemed to have continued in existence, notwithstanding such application, and this Guaranty will shall be enforceable against Guarantor as to such Guaranteed Guarantied Obligations as fully as if such application had never been made.

Recovery of Payment. If any payment received by Lender from Borrower or any other obligor and applied to the Guaranteed Obligations is subsequently set aside, recovered, rescinded or required to be returned for any reason (including, without limitation, the bankruptcy, insolvency or reorganization of Borrower or any other obligor), the Guaranteed Obligations to which such payment was applied will for the purposes of this Guaranty be deemed to have continued in existence, notwithstanding such application, and this Guaranty will be enforceable against Guarantor as to such Guaranteed Obligations as fully as if such application had never been made.

Recovery of Payment. If any payment received by Lender from Borrower or any other obligor and applied to the Guaranteed Obligations is subsequently set aside, recovered, rescinded or required to be returned for any reason (including, without limitation, the bankruptcy, insolvency or reorganization of Borrower or any other obligor), the Guaranteed Obligations to which such payment was applied will shall for the purposes of this Guaranty be deemed to have continued in existence, notwithstanding such application, and this Guaranty will shall be enforceable against Guarantor as to such Guaranteed Obligations as fully as if such application had never been made.

Recovery of Payment. If any payment received by the Lender from the Borrower or any other obligor and applied to the Guaranteed Obligations is subsequently set aside, recovered, rescinded or required to be returned for any reason (including, without limitation, the bankruptcy, insolvency or reorganization of any Co-Borrower or any other obligorCo-Obligor), the Guaranteed Obligations to which such payment was applied will shall for the purposes of this Guaranty be deemed to have continued in existence, notwithstanding such application, and this Guaranty will shall be enforceable against the Guarantor as to such Guaranteed Obligations as fully as if such application had never been made.

Recovery of Payment. If any payment received by Lender from any Borrower or any other obligor and applied to the Guaranteed Obligations is subsequently set aside, recovered, rescinded or required to be returned for any reason (including, without limitation, the bankruptcy, insolvency or reorganization of a Borrower or any other obligorCo-Obligor), the Guaranteed Obligations to which such payment was applied will shall for the purposes of this Guaranty Agreement be deemed to have continued in existence, notwithstanding such application, and this Guaranty will Agreement shall be enforceable against such Guarantor as to such Guaranteed Obligations as fully as if such application had never been made.