Common use of Reinstatement and Continuation of Agreement Clause in Contracts

Reinstatement and Continuation of Agreement. If any Secured Party Agent or Secured Creditor is required in any Insolvency Proceeding or otherwise to turn over or otherwise pay to the estate of any Credit Party or any other Person any payment made in satisfaction of all or any portion of the Secured Obligations (a “Recovery”), then the Secured Obligations shall be reinstated to the extent of such Recovery. If this Agreement shall have been terminated prior to such Recovery, this Agreement shall be reinstated in full force and effect in the event of such Recovery, and such prior termination shall not diminish, release, discharge, impair or otherwise affect the obligations of the Parties from such date of reinstatement. All rights, interests, agreements and obligations of each Secured Party Agent and each Secured Creditor under this Agreement shall remain in full force and effect and shall continue irrespective of the commencement of, or any discharge, confirmation, conversion or dismissal of, any Insolvency Proceeding by or against any Credit Party or any other circumstance which otherwise might constitute a defense available to, or a discharge of, any Credit Party in respect of the Secured Obligations. No priority or right of any Secured Party Agent or any Secured Creditor shall at any time be prejudiced or impaired in any way by any act or failure to act on the part of Holdings, the Borrower or any Guarantor or by the noncompliance by any Person with the terms, provisions or covenants of any of the Secured Debt Documents, regardless of any knowledge thereof which any Secured Party Agent or any Secured Creditor may have.

Reinstatement and Continuation of Agreement. If any Secured Party Agent or Secured Creditor is required in any Insolvency Proceeding or otherwise to turn over or otherwise pay to the estate of any Credit Party or any other Person any payment made in satisfaction of all or any portion of the Secured Obligations (a “Recovery”), then the Secured Obligations shall be reinstated to the extent of such Recovery. If this Agreement shall have been terminated prior to such Recovery, this Agreement shall be reinstated in full force and effect in the event of such Recovery, and such prior termination shall not diminish, release, discharge, impair or otherwise affect the obligations of the Parties from such date of reinstatement. All rights, interests, agreements and obligations of each Secured Party Agent and each Secured Creditor under this Agreement shall remain in full force and effect and shall continue irrespective of the commencement of, or any discharge, confirmation, conversion or dismissal of, any Insolvency Proceeding by or against any Credit Party or any other circumstance which otherwise might constitute a defense available to, or a discharge of, any Credit Party in respect of the Secured Obligations. No priority or right of any Secured Party Agent or any Secured Creditor shall at any time be prejudiced or impaired in any way by any act or failure to act on the part of Holdings, the Parent Borrower or any Guarantor or by the noncompliance by any Person with the terms, provisions or covenants of any of the Secured Debt Documents, regardless of any knowledge thereof which any Secured Party Agent or any Secured Creditor may have.

Reinstatement and Continuation of Agreement. If the Lender on one hand, or the Collateral Agent, the Trustee or any Secured Party Agent or Secured Creditor Noteholder, on the other hand, is required in any Insolvency or Liquidation Proceeding or otherwise to turn over or otherwise pay to the estate of any Credit Party or any other Person any payment made in satisfaction of all or any portion of the Secured Obligations amount (a “"Recovery”"), then the Loan Agreement Secured Obligations and the Indenture Secured Obligations, as the case may be, shall be reinstated to the extent of such Recovery. If this Agreement shall have been terminated prior to such Recovery, this Agreement shall be reinstated in full force and effect in the event of such Recoveryeffect, and such prior termination shall not diminish, release, discharge, impair impair, or otherwise affect the obligations of the Parties parties hereto from such date of reinstatement. All rights, interests, agreements agreements, and obligations of each Secured Party Agent the Lender, the Lenders, the Collateral Agent, the Trustee, and each Secured Creditor the Noteholders under this Agreement shall remain in full force and effect and shall continue irrespective of the commencement of, or any discharge, confirmation, conversion conversion, or dismissal of, any Insolvency or Liquidation Proceeding by or against any Credit Party or any other circumstance which otherwise might constitute a defense available to, or a discharge of, any Credit Party in respect of the Secured ObligationsLoan Documents. No priority or right of any Secured Party Agent the Lender, the Collateral Agent, the Trustee or any Secured Creditor Noteholder shall at any time be prejudiced or impaired in any way by any act or failure to act on the part of Holdings, the Borrower or any Guarantor Credit Party or by the noncompliance by any Person with the terms, provisions provisions, or covenants of any of the Secured Debt DocumentsLoan Document or Noteholder Document, as applicable, regardless of any knowledge thereof which any Secured Party Agent the Lender, the Collateral Agent, the Trustee or any Secured Creditor Noteholder may have.

Reinstatement and Continuation of Agreement. If any Secured Party the Agent or Secured Creditor any Lender is required in any Insolvency or Liquidation Proceeding or otherwise to turn over or otherwise pay to the estate of any Credit Party or any other Person any payment made in satisfaction of all or any portion of the Secured Obligations amount (a “Recovery”), then the Loan Agreement Secured Obligations shall be reinstated to the extent of such Recovery. If this Agreement shall have been terminated prior to such Recovery, this Agreement shall be reinstated in full force and effect in the event of such Recoveryeffect, and such prior termination shall not diminish, release, discharge, impair impair, or otherwise affect the obligations of the Parties parties hereto from such date of reinstatement. All rights, interests, agreements agreements, and obligations of each Secured Party Agent the Agent, the Lenders, the Collateral Agent, the Trustee, and each Secured Creditor the Noteholders under this Agreement shall remain in full force and effect and shall continue irrespective of the commencement of, or any discharge, confirmation, conversion conversion, or dismissal of, any Insolvency or Liquidation Proceeding by or against any Credit Party or any other circumstance which otherwise might constitute a defense available to, or a discharge of, any Credit Party in respect of the Secured ObligationsLoan Documents. No priority or right of the Agent, any Secured Party Agent Lender, the Collateral Agent, the Trustee or any Secured Creditor Noteholder shall at any time be prejudiced or impaired in any way by any act or failure to act on the part of Holdings, the Borrower or any Guarantor Credit Party or by the noncompliance by any Person with the terms, provisions provisions, or covenants of any of the Secured Debt DocumentsLoan Document, regardless of any knowledge thereof which the Agent, any Secured Party Agent Lender, the Collateral Agent, the Trustee or any Secured Creditor Noteholder may have.