Common use of Rescission of Obligations Clause in Contracts

Rescission of Obligations. If under applicable bankruptcy, insolvency, reorganization, fraudulent transfer, moratorium or other similar laws of general application with respect to creditors, any payment, or any part thereof, of any of the Obligations is rescinded or must otherwise be restored or returned by Seller, this Guaranty shall continue to be effective, or be reinstated, as the case may be, all as though such payment had not been made.

Rescission of Obligations. If under applicable bankruptcy, insolvency, reorganization, fraudulent transfer, moratorium or other similar laws of general application with respect to creditors, any payment, or any part thereof, of any of the Obligations is rescinded or must otherwise be restored or returned by Seller, this Limited Guaranty shall continue to be effective, or be reinstated, as the case may be, all as though such payment had not been made.