Common use of Recovery or Avoidance of Payments Clause in Contracts

Recovery or Avoidance of Payments. In the event any payment by or on behalf of the Borrowers with respect to any Letter of Credit (or any Reimbursement Obligation relating thereto) received by BankBoston, or by the Agent and distributed by the Agent to the Lenders on account of their respective participations therein, is thereafter set aside, avoided or recovered from BankBoston or the Agent in connection with any receivership, liquidation or bankruptcy proceeding, the Lenders shall, upon demand by the Agent, pay to the Agent, for the account of the Agent or BankBoston, their respective Proportionate Shares of such amount set aside, avoided or recovered together with interest at the rate required to be paid by the Agent upon the amount required to be repaid by it.

Recovery or Avoidance of Payments. In the event any payment by or on behalf of the Borrowers Borrower with respect to any Letter of Credit (or any Reimbursement Obligation relating thereto) received by BankBoston, or by the Agent and distributed by the Agent to the Lenders on account of their respective participations therein, is thereafter set aside, avoided or recovered from BankBoston or the Agent in connection with any receivership, liquidation or bankruptcy proceeding, the Lenders shall, upon demand by the Agent, pay to the Agent, for the account of the Agent or BankBoston, their respective Proportionate Shares Commitment Percentages of such amount set aside, avoided or recovered together with interest at the rate required to be paid by the Agent upon the amount required to be repaid by it.

Recovery or Avoidance of Payments. In the event any payment by or on behalf of the Borrowers Borrower received by the Agent with respect to any Letter of Credit (or any Reimbursement Obligation guaranty or reimbursement obligation relating thereto) received by BankBoston, or by the Agent and distributed by the Agent to the Lenders Banks on account of their respective participations therein, therein is thereafter set aside, avoided or recovered from BankBoston the Agent or the Agent Issuing Bank in connection with any receivership, liquidation or bankruptcy proceeding, the Lenders Banks shall, upon demand by the Agent, pay to the Agent, for its account or the account of the Agent or BankBostonIssuing Bank, their respective Proportionate Shares Commitment Proportions of such amount set aside, avoided or recovered together with interest at the rate required to be paid by the Agent or the Issuing Bank upon the amount required to be repaid by it.

Recovery or Avoidance of Payments. In the event any payment by or on behalf of the Borrowers Borrower with respect to any Letter of Credit (or any Reimbursement Obligation relating thereto) received by BankBoston, or by the Agent and distributed by the Agent to the Lenders on account of their respective participations therein, is thereafter set aside, avoided or recovered from BankBoston or the Agent in connection with any receivership, liquidation or bankruptcy proceeding, the Lenders shall, upon demand by the Agent, pay to the Agent, for the account of the Agent or BankBoston, their respective Proportionate Shares of such amount set aside, avoided or recovered together with interest at the rate required to be paid by the Agent upon the amount required to be repaid by it.