Common use of Rescission of payments etc Clause in Contracts

Rescission of payments etc. Any discharge, release or reassignment by a Finance Party of any of the security constituted by, or any of the obligations of a Security Party contained in, a Finance Document shall be (and be deemed always to have been) void if any act (including, without limitation, any payment) as a result of which such discharge, release or reassignment was given or made is subsequently wholly or partially rescinded or avoided by operation of any law. LONLIVE\24155284.5 Page 47 ▇▇-▇▇-▇▇▇▇▇\Draft(4)\29 March 2016

Appears in 1 contract

Sources: Secured Term Loan Facility Agreement (Teekay LNG Partners L.P.)