Common use of Repayment or Recovery Clause in Contracts

Repayment or Recovery. If claim is ever made upon any Beneficiary for repayment or recovery of any amount or amounts received in payment or on account of any of the Guarantied Obligations and any of the Beneficiaries 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 such payee or any of its property, or (b) any settlement or compromise of any such claim effected by such Beneficiary with any such claimant (including the original obligor), then and in such event the Guarantor agrees that any such judgment, decree, order, settlement or compromise shall be binding upon it, notwithstanding any revocation hereof or the cancellation of any Note or other instrument evidencing any Guarantied Obligation or any security therefor, and the Guarantor shall be and remain liable to the aforesaid Beneficiary for the amount so repaid or recovered to the same extent as if such amount had never originally been received by any such Beneficiary.

Repayment or Recovery. If claim is ever made upon any Beneficiary --------------------- Guaranteed Party for repayment or recovery of any amount or amounts received in payment or on account of any of the Guarantied Guaranteed Obligations and any of the Beneficiaries aforesaid payees repays all or part of said amount by reason of (ai) any judgment, decree or order of any court or administrative body having jurisdiction over such payee or any of its property, property or (bii) any settlement or compromise of any such claim effected by such Beneficiary payee with any such claimant (including the original obligorBorrower), then and in such event the each Guarantor agrees that any such judgment, decree, order, settlement or compromise shall be binding upon itsuch Guarantor, notwithstanding any revocation hereof or the cancellation of any Note or other instrument evidencing any Guarantied Obligation or any security thereforliability of the Borrower, and the such Guarantor shall be and remain liable to the aforesaid Beneficiary payees hereunder for the amount so repaid or recovered to the same extent as if such amount had never originally been received by any such Beneficiarypayee.

Repayment or Recovery. If claim is ever made upon any Beneficiary for repayment or recovery of any amount or amounts received in payment or on account of any of the Guarantied Obligations and any of the Beneficiaries repays all or part of said amount by reason of (a) any a)any judgment, decree or order of any court or administrative body having jurisdiction over such payee or any of its property, or (b) any b)any settlement or compromise of any such claim effected by such Beneficiary with any such claimant (including the original obligor), then and in such event the Guarantor agrees that any such judgment, decree, order, settlement or compromise shall be binding upon it, notwithstanding any revocation hereof or the cancellation of any Note Notes or other instrument evidencing any Guarantied Obligation or any security therefor, and the Guarantor shall be and remain liable to the aforesaid Beneficiary for the amount so repaid or recovered to the same extent as if such amount had never originally been received by any such Beneficiary.

Repayment or Recovery. If claim is ever made upon any Beneficiary the Secured Parties for repayment or recovery of any amount or amounts received in payment or on account of any of the Guarantied Secured Obligations and any of the Beneficiaries repays Secured Parties 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 such payee or any of its property, or (b) any settlement or compromise of any such claim effected by such Beneficiary Secured Parties with any such claimant (including the original obligor), then and in such event the each Guarantor agrees that any such judgment, decree, order, settlement or compromise shall be binding upon it, notwithstanding any revocation hereof or the cancellation of any Note Notes or other instrument evidencing any Guarantied Secured Obligation or any security therefor, and the each Guarantor shall be and remain liable to the aforesaid Beneficiary Secured Parties for the amount so repaid or recovered to the same extent as if such amount had never originally been received by any such Beneficiarythe Secured Parties.

Repayment or Recovery. If claim is ever made upon any Beneficiary for repayment or recovery of any amount or amounts received in payment or on account of any of the Guarantied Obligations and any of the Beneficiaries 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 such payee or any of its property, or (b) any settlement or compromise of any such claim effected by such Beneficiary with any such claimant (including the original obligor), then and in such event the each Guarantor agrees that any such judgment, decree, order, settlement or compromise shall be binding upon it, notwithstanding any revocation hereof or the cancellation of any Note or other instrument evidencing any Guarantied Obligation or any security therefor, and the each Guarantor shall be and remain liable to the aforesaid Beneficiary for the amount so repaid or recovered to the same extent as if such amount had never originally been received by any such Beneficiary.

Repayment or Recovery. If claim is ever made upon any Beneficiary the Secured Parties for repayment or recovery of any amount or amounts received in payment or on account of any of the Guarantied Secured Obligations and any of the Beneficiaries repays Secured Parties 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 such payee or any of its property, or (b) any settlement or compromise of any such claim effected by such Beneficiary Secured Parties with any such claimant (including the original obligor), then and in such event the each Guarantor agrees that any such judgment, decree, order, settlement or compromise shall be binding upon it, notwithstanding any revocation hereof or the cancellation of any Note or other instrument evidencing any Guarantied Secured Obligation or any security therefor, and the each Guarantor shall be and remain liable to the aforesaid Beneficiary Secured Parties for the amount so repaid or recovered to the same extent as if such amount had never originally been received by any such Beneficiarythe Secured Parties.

Repayment or Recovery. If claim is ever made upon any Beneficiary the Secured Parties for repayment or recovery of any amount or amounts received in payment or on account of any of the Guarantied Secured Obligations and any of the Beneficiaries repays Secured Parties 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 such payee or any of its property, or (b) any settlement or compromise of any such claim effected by such Beneficiary the Secured Parties with any such claimant (including the original obligor), then and in such event the Guarantor agrees that any such judgment, decree, order, settlement or compromise shall be binding upon it, notwithstanding any revocation hereof or the cancellation of any Note or other instrument evidencing any Guarantied Secured Obligation or any security therefor, and the Guarantor shall be and remain liable to the aforesaid Beneficiary Secured Parties for the amount so repaid or recovered to the same extent as if such amount had never originally been received by any such Beneficiarythe Secured Parties.

Repayment or Recovery. If claim is ever made upon any Beneficiary for repayment or recovery of any amount or amounts received in payment or on account of any of the Guarantied Obligations and any of the Beneficiaries 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 such payee or any of its property, or (b) any settlement or compromise of any such claim effected by such Beneficiary with any such claimant (including the original obligor), then and in such event the Guarantor agrees that any such judgment, decree, order, settlement or compromise shall be binding upon it, notwithstanding any revocation hereof or the cancellation of any Revolving Note or other instrument evidencing any Guarantied 112 Obligation or any security therefor, and the Guarantor shall be and remain liable to the aforesaid Beneficiary for the amount so repaid or recovered to the same extent as if such amount had never originally been received by any such Beneficiary.