Rescinded Payments. Upon notice by Lead, if any Collections paid to Participant must be rescinded or otherwise be returned to Lead for any reason, Participant shall return such payments to Lead within three (3) business days of receipt.
Rescinded Payments. If all or part of any payment from or on behalf of any borrower to Emmes is rescinded or is required to be returned pursuant to a final, non-appealable order, in either case pursuant to the order of a court of competent jurisdiction, and if Emmes has paid to any Participating Investor its pro rata share thereof, each such Participating Investor shall, upon telephonic notice from Emmes to be promptly confirmed later in writing, be required to forthwith pay to Emmes, on the date of such telephonic notice (if received by such Participating Investor prior to 11:00 a.m., Eastern Time) or on the next succeeding business day (if such notice is received after 11:00 a.m., Eastern Time) an amount equal to that portion of the amount which had previously been paid to such Participating Investor and which has been rescinded or which must be returned by Emmes. Each of the Participating Investors shall also pay to Emmes, on any amounts not so repaid by such Participating Investor which, because of the absence of payment by such Participating Investor, Emmes advanced with its own funds on behalf of such Participating Investor, interest at the per annum rate of twenty-four percent (24%) or the highest rate permitted by law, whichever is lower.
Rescinded Payments. If any payment applied by Lender to the Indebtedness is thereafter set aside, recovered, rescinded or required to be returned for any reason (including, without limitation, the bankruptcy, insolvency or reorganization of Borrower or any other obligor), the Indebtedness to which such payment was applied shall, for the purposes of this Guaranty, be deemed to have continued in existence, notwithstanding such application, and this Guaranty shall be enforceable as to such Indebtedness as fully as if such application had never been made. The liability of the Guarantor under this Guaranty is in addition to and shall be cumulative with all other liabilities of the Guarantor to the Lender as guarantor or otherwise, without any limitation as to amount, unless the instrument or agreement evidencing or creating such other liability specifically provides to the contrary. Execution of this Guaranty shall not act as a revocation of any prior guarantee by the Guarantor of the Indebtedness of Borrower.
Rescinded Payments. Notwithstanding anything to the contrary contained in this Agreement, if at any time any payment to the Administrative Agent or the Senior Creditors is rescinded or must otherwise be returned by the Administrative Agent or the Senior Creditors upon the insolvency, bankruptcy, reorganization, dissolution or liquidation of AWT or otherwise, the Subordinated lender shall promptly upon demand pay or deliver any payments or distributions received by the Subordinated Lender upon or in respect of the Subordinated Obligations to the Administrative Agent up to the amount so rescinded or otherwise returned by the Administrative Agent or the Senior Creditors.
Rescinded Payments. If any payment applied by Lender to Indebtedness is thereafter set aside, recovered, rescinded or required to be returned for any reason (including, without limitation, the bankruptcy, insolvency or reorganization of Borrower or any other obligor), the Indebtedness to which such payment was applied shall for the purpose of this Guaranty be deemed to have continued in existence, notwithstanding such application. This Guaranty shall be enforceable as to such Indebtedness as fully as if such application had never been made.
