Common use of Reinstatement of Guaranteed Obligations Clause in Contracts

Reinstatement of Guaranteed Obligations. If claim is ever made upon the Lender for repayment or recovery of any amount or amounts received in payment or on account of any of the Guaranteed Obligations, and the Lender repays all or part of said amount by reason of (a) any judgment, decree or order of any court or administrative body having jurisdiction over the Lender or any of its property, or (b) any settlement or compromise of any such claim effected by the Lender with any such claimant (including the Borrower or a trustee in bankruptcy for the Borrower), then, and in such event, the Guarantor agrees that any such judgment, decree, order, settlement or compromise shall be binding on it, notwithstanding any revocation hereof or the cancellation of the Note, the other Loan Documents, or any other instrument evidencing any liability of the Borrower, and the Guarantor shall be and remain liable to the Lender for the amounts so repaid or recovered to the same extent as if such amount had never originally been paid to the Lender.

Reinstatement of Guaranteed Obligations. If claim is ever ---------------------------------------- made upon the Lender Bank for repayment or recovery of any amount or amounts received in payment or on account of any of the Guaranteed Obligations, and the Lender Bank repays all or part of said amount by reason of (a) any judgment, decree or order of any court or administrative body having jurisdiction over the Lender Bank or any of its property, or (b) any settlement or compromise of any such claim effected by the Lender Bank with any such claimant (including the Borrower Lessee or a trustee in bankruptcy for the BorrowerLessee), then, and in such event, the Guarantor agrees that any such judgment, decree, order, settlement or compromise shall be binding on it, notwithstanding any revocation hereof or the cancellation of the NoteReimbursement Agreement, the other Loan Related Documents, or any other instrument evidencing any liability of the BorrowerLessee, and the Guarantor shall be and remain liable to the Lender Bank for the amounts so repaid or recovered to the same extent as if such amount had never originally been paid to the LenderBank.

Reinstatement of Guaranteed Obligations. If claim is ever --------------------------------------- made upon the Lender for repayment or recovery of any amount or amounts received in payment or on account of any of the Guaranteed Obligations, and the Lender repays all or part of said amount by reason of (a) any judgment, decree or order of any court or administrative body having jurisdiction over the Lender or any of its property, or (b) any settlement or compromise of any such claim effected by the Lender with any such claimant (including the Borrower or a trustee in bankruptcy for the Borrower), then, and in such event, the Guarantor agrees that any such judgment, decree, order, settlement or compromise shall be binding on it, notwithstanding any revocation hereof or the cancellation of the Note, the other Loan Documents, or any other instrument evidencing any liability of the Borrower, and the Guarantor shall be and remain liable to the Lender for the amounts so repaid or recovered to the same extent as if such amount had never originally been paid to the Lender.

Reinstatement of Guaranteed Obligations. If claim is ever made --------------------------------------- upon the Lender Seller for repayment or recovery of any amount or amounts received in payment or on account of any of the Guaranteed Obligations, and the Lender Seller repays all or part of said amount by reason of (a) any judgment, decree or order of any court or administrative body having jurisdiction over the Lender Seller or any of its property, or (b) any settlement or compromise of any such claim effected by the Lender Seller with any such claimant (including the Borrower Purchaser or a trustee in bankruptcy for the BorrowerPurchaser), then, and in such event, the Guarantor agrees that any such judgment, decree, order, settlement or compromise shall be binding on it, notwithstanding any revocation hereof or the cancellation of the NoteAgreement, the other Loan DocumentsNotes, or any other instrument evidencing any liability of the BorrowerPurchaser, and the Guarantor shall be and remain liable to the Lender Seller for the amounts so repaid or recovered to the same extent as if such amount had never originally been paid to the LenderSeller.