Common use of Reinstatement of Guarantied Obligations Clause in Contracts

Reinstatement of Guarantied Obligations. If claim is ever made on any Noteholder for repayment or recovery of any amount or amounts received in payment or on account of any of the Guarantied Obligations, and such Noteholder repays all or part of said amount by reason of (a) any judgment, decree or order of any court or administrative body of competent jurisdiction, or (b) any settlement or compromise of any such claim effected by such Noteholder with any such claimant (including the Company or a trustee in bankruptcy for the Company), 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 Agreement, the Notes, any Subsidiary Guaranty or any other instrument evidencing any liability of the Company, and the Guarantor shall, upon the occurrence of a Springing Recourse Event, be and remain liable to such Noteholder for the amounts so repaid or recovered to the same extent as if such amount had never originally been paid to such Noteholder.

Reinstatement of Guarantied Obligations. If claim is ever made on any Noteholder the Lender for repayment or recovery of any amount or amounts received in payment or on account of any of the Guarantied Obligations, and such Noteholder the Lender repays all or part of said amount by reason of (a) any judgment, decree or order of any court or administrative body of competent jurisdiction, or (b) any settlement or compromise of any such claim effected by such Noteholder the Lender with any such claimant (including the Company Borrower or a trustee in bankruptcy for the CompanyBorrower), then and in such event the each 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 Credit Agreement, any of the Notesother Loan Documents, any Subsidiary Guaranty or any other instrument evidencing any liability of the CompanyBorrower, and the such Guarantor shall, upon the occurrence of a Springing Recourse Event, shall be and remain liable to such Noteholder the Lender for the amounts so repaid or recovered to the same extent as if such amount had never originally been paid to such Noteholderthe Lender.

Reinstatement of Guarantied Obligations. If claim is ever made on any Noteholder for repayment or recovery of any amount or amounts received in payment or on account of any of the Guarantied Obligations, and such Noteholder repays all or part of said amount by reason of (a) any judgment, decree or order of any court or administrative body of competent jurisdiction, or (b) any settlement or compromise of any such claim effected by such Noteholder with any such claimant (including the Company or a trustee in bankruptcy for the Company), then and in such event the each Subsidiary 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 Agreement, the NotesSpringing Parent Guaranty, any other Subsidiary Guaranty Guaranty, or any other instrument evidencing any liability of the Company, and the such Subsidiary Guarantor shall, upon the occurrence of a Springing Recourse Event, shall be and remain liable to such Noteholder for the amounts so repaid or recovered to the same extent as if such amount had never originally been paid to such Noteholder.

Reinstatement of Guarantied Obligations. If claim is ever made on any Noteholder the Lender for repayment or recovery of any amount or amounts received in payment or on account of any of the Guarantied Obligations, and such Noteholder the Lender repays all or part of said amount by reason of (a) any judgment, decree or order of any court or administrative body of competent jurisdiction, or (b) any settlement or compromise of any such claim effected by such Noteholder the Lender with any such claimant (including the Company Borrower or a trustee in bankruptcy for the CompanyBorrower), then and in such event the each Guarantor agrees that any such judgment, decree, order, settlement or compromise shall be binding on it, notwithstanding any revocation hereof of any of such Guarantor’s obligations under this Article or the cancellation of any of the Note AgreementLoan Documents, the Notes, any Subsidiary Guaranty or any other instrument evidencing any liability of the CompanyBorrower, and the Guarantor shall, upon the occurrence of a Springing Recourse Event, Guarantors shall be and remain liable to such Noteholder the Lender for the amounts so repaid or recovered to the same extent as if such amount had never originally been paid to such Noteholderthe Lender.