REINSTATEMENT OF LIABILITY. If any claim is made upon the Agent or Lenders for repayment or recovery of any amount or amounts received by Agent or Lenders in payment or on account of any Obligations and Lenders repay 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 Lenders or any of their property, or (b) any settlement or compromise in good faith with any such claimant (including Obligor), then and in such event Guarantor agrees that any such judgment, decree, order, settlement or compromise shall be binding upon the Guarantor, notwithstanding any termination hereof or the cancellation of any note or other instrument evidencing any Obligation, and Guarantor shall remain liable to the Lenders hereunder for the amount so repaid or recovered to the same extent as if such amount had never originally been received by Lenders.
REINSTATEMENT OF LIABILITY. If any claim is made upon the Bank for repayment or recovery of any amount or amounts received by Bank in payment or on account of any Obligations and 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 Bank or any of its property, or (b) any settlement or compromise in good faith with any such claimant (including Obligor), then and in such event each Guarantor agrees that any such judgment, decree, order, settlement or compromise shall be binding upon the Guarantor, notwithstanding any termination hereof or the cancellation of any note or other instrument evidencing any Obligation, and each Guarantor shall remain liable to the Bank hereunder for the amount so repaid or recovered to the same extent as if such amount had never originally been received by Bank.
REINSTATEMENT OF LIABILITY. Each Pledgor’s liability hereunder shall be reinstated and revived and Bank’s rights shall continue with respect to any amount paid on account of the Obligations secured hereby which shall thereafter be required to be restored or returned by Bank upon the bankruptcy or insolvency of such Pledgor or any other Person or for any other reason, all as though such amount had not been paid.
REINSTATEMENT OF LIABILITY. If claim is ever made upon the Lenders for repayment or recovery of any amount or amounts received by the Lenders in payment or on account of any of the Obligations incurred under the Loan Documents of any Obligor and the Lenders repay 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 Lenders or any of their property, or (b) any settlement or compromise of any such claim effected by the Lenders with any such claimant (including the Obligors), then any such judgment, decree, order, settlement or compromise shall be binding upon the Obligors, notwithstanding any revocation hereof or the cancellation of any note or other instrument evidencing any liability of such Obligor, and the Obligors shall be and remain liable to the Lenders hereunder for the amount so repaid or recovered to the same extent as if such amount had never originally been received by the Lenders. (Signature Page Follows)
REINSTATEMENT OF LIABILITY. If claim is ever made upon the Bank for repayment or recovery of any amount or amounts received by the Bank in payment or on account of any of the Liabilities of any Debtor and the 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 Bank or any of its property, or (b) any settlement or compromise of any such claim effected by the Bank with any such claimant (including such Debtor), then any such judgment, decree, order, settlement or compromise shall be binding upon Pledgor(s), notwithstanding any revocation hereof or the cancellation of any note or other instrument evidencing any liability of such Debtor, and Pledgor(s) shall be and remain liable to the Bank hereunder for the amount so repaid or recovered to the same extent as if such amount had never originally been received by the Bank.
REINSTATEMENT OF LIABILITY. If any claim is ever made upon the Bank for the repayment or return of any money or property received by the Bank from any Obligor in payment of any Obligation, and the Bank repays or returns all or part of said money or property by reason of (i) any judgment, decree or order of any court or administrative body having jurisdiction over the Bank or any of its property or (ii) any settlement or compromise of any such claim accomplished by Bank with such claimant, then in such event the Borrower agrees that any such judgment, decree, settlement or compromise shall be binding upon Borrower, notwithstanding any termination hereof or the cancellation of any note or other instrument evidencing any liability to the Bank, and the Borrower shall be and shall remain liable to the Bank hereunder for the amount so repaid or the value of the property returned to the same extent as if such had never originally been received by the Bank. The Borrower agrees that the Bank shall have no duty or affirmative obligation to defend against such claim and may object to or pay such claim in its sole discretion without impairing or relinquishing the obligations of the Borrower hereunder. This provision shall survive the termination of this Agreement.
REINSTATEMENT OF LIABILITY. 3 ARTICLE V - DEFINITIONS....................................................3 ARTICLE VI - EXLCUSIONS....................................................4 ARTICLE VII - NET RETAINED LINES...........................................4 ARTICLE VIII - ULTIMATE NET LOSS...........................................5
REINSTATEMENT OF LIABILITY. In the event of any portion of the liability hereunder being exhausted by loss, the amount so exhausted shall be reinstated from the time of the occurrence of the loss after a payment of the remaining pro-rata share of the reinsurance premium for the coverage period. This payment is due within sixty (60) days of a catastrophe claim submission.
REINSTATEMENT OF LIABILITY. The liability of Guarantor hereunder shall be reinstated and revived, and the rights of Lender shall continue with respect to any amounts on account of the Indebtedness, which shall thereafter be required to be restored or returned by Lender upon the bankruptcy, insolvency or reorganization of Borrower or for any other reason, as though such amount had not been paid.
REINSTATEMENT OF LIABILITY. Guarantor further agrees that its guaranty constitutes a guaranty of payment when due and not of collection, and waives any right to require that any resort be had by scienza to any security that may be held for payment of the guaranteed obligations. The obligations hereunder are independent of the obligations of rgp, and a separate action or actions may be brought and prosecuted against guarantor whether action is brought against rgp or any other person, or whether rgp or any other person is joined in any such action or actions. Guarantor acknowledges that this guaranty is absolute and unconditional, there are no conditions precedent to the effectiveness of this guaranty, and this guaranty is in full force and effect and is binding on guarantor as of the date written below, regardless of whether scienza obtains any guaranties from others or takes any other action contemplated by guarantor. Guarantor waives the benefit of any statute of limitations affecting guarantor's liability hereunder orthe enforcement thereof, and guarantor agrees that any payment of any of the guaranteed obligations or other act which shall toll any statute of limitations applicable thereto shall similarly operate to toll such statute of limitations applicable to guarantor's liability hereunder. The liability of guarantor hereunder shall be reinstated and revived and the rights of scienza shall continue if and to the extent for any reason any amount at any time paid on account of any guaranteed obligation guaranteed hereby is rescinded or must otherwise be restored by scienza, whether as a result of any proceedings in bankruptcy or reorganization or otherwise, all as though such amount had not been paid. The determination as to whether any amount so paid must be rescinded or restored shall be made by scienza in its sole discretion; provided however, that if scienza chooses to contest any such matter at the request of guarantor, guarantor agrees to indemnify and hold scienza harmless from and against all reasonable costs and expenses, including reasonable attorneys' fees, expended or incurred by scienza in connection therewith, including without limitation, in any litigation with respect thereto.
