Common use of Reinstatement of Rights Clause in Contracts

Reinstatement of Rights. If a person claims under law relating to Insolvency Events that a transaction (including a payment) in connection with this Agreement is void or voidable and that claim is upheld, conceded or compromised, then: (a) the Seller is immediately entitled as against the Buyer to the rights in connection with this Agreement to which it was entitled immediately before the transaction; and (b) on request from the Seller, the Buyer agrees to do anything (including signing any document) to restore to the Seller any right, title or interest (including in respect of the Water Allocation) held by the Seller immediately before the transaction. The Buyer’s obligations under this clause are continuing obligations, independent of the Buyer’s other obligations under this Agreement and continue after this Agreement ends.

Reinstatement of Rights. If a person claims under law relating to Insolvency Events that a transaction (including a payment) in connection with this Agreement is void or voidable and that claim is upheld, conceded or compromised, then: (a) the Seller is immediately entitled as against the Buyer to the rights in connection with this Agreement to which it was entitled immediately before the transaction; and (b) on request from the Seller, the Buyer agrees to do anything (including signing any document) to restore to the Seller any right, title or interest (including in respect of the Interim Water Allocation) held by the Seller immediately before the transaction. The Buyer’s obligations under this clause are continuing obligations, independent of the Buyer’s other obligations under this Agreement and continue after this Agreement ends.