Common use of Rescission of Payments Clause in Contracts

Rescission of Payments. If at any time any payment made by the Borrower under this Note is rescinded or must otherwise be restored or returned upon the insolvency, bankruptcy or reorganization of the Borrower or otherwise, the Borrower’s obligation to make such payment shall be reinstated as though such payment had not been made.

Appears in 17 contracts

Samples: The Purchase and Sale Agreement (DigitalBridge Group, Inc.), Purchase and Sale Agreement (DigitalBridge Group, Inc.), Esports Entertainment Group, Inc.

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Rescission of Payments. If at any time any payment made by the Borrower under this Note is rescinded or must otherwise be restored or returned upon the insolvency, bankruptcy bankruptcy, or reorganization of the Borrower or otherwise, the Borrower’s obligation to make such payment shall be reinstated as though such payment had not been made.

Appears in 10 contracts

Samples: Security Agreement (Genius Group LTD), Secured Note (Flyexclusive Inc.), Senior Secured Note (Flyexclusive Inc.)

Rescission of Payments. If at any time any payment made by the Borrower Borrowers under this Note is rescinded or must otherwise be restored or returned upon the insolvency, bankruptcy or reorganization of the any Borrower or otherwise, the Borrower’s Borrowers’ obligation to make such payment shall be reinstated as though such payment had not been made.

Appears in 5 contracts

Samples: Secured Note (Hc2 Holdings, Inc.), Secured Note (Hc2 Holdings, Inc.), Continental Letter Agreement (Hc2 Holdings, Inc.)

Rescission of Payments. If at any time any payment made by the Borrower under this Note is rescinded or must otherwise be restored or returned upon the insolvency, bankruptcy or reorganization of the Borrower or otherwise, the Borrower’s 's obligation to make such payment shall be reinstated as though such payment had not been made.

Appears in 3 contracts

Samples: Notes and Warrants Purchase Agreement (Chinacast Education Corp), Advanced Cannabis Solutions, Inc., Armada Water Assets Inc

Rescission of Payments. If at any time any payment made by the any Borrower under this Note Agreement is rescinded or must otherwise be restored or returned upon the insolvency, bankruptcy or reorganization of the a Borrower or otherwise, the such Borrower’s obligation to make such payment shall be reinstated as though such payment had not been made.

Appears in 2 contracts

Samples: Security Agreement (Timber Pharmaceuticals, Inc.), Security Agreement (Timber Pharmaceuticals, Inc.)

Rescission of Payments. If at any time any payment made by the Borrower Company under this Note is rescinded or must otherwise be restored or returned upon the insolvency, bankruptcy bankruptcy, or reorganization of the Borrower Company or otherwise, the BorrowerCompany’s obligation to make such payment shall be reinstated as though upon such payment had not been maderescission, restoration or return.

Appears in 2 contracts

Samples: Triller Corp., Triller Corp.

Rescission of Payments. If at any time any payment made by the a Borrower under this Note is rescinded or must otherwise be restored or returned upon the insolvency, bankruptcy bankruptcy, or reorganization of the a Borrower or otherwise, the such Borrower’s 's obligation to make such payment shall be reinstated as though such payment had not been made.

Appears in 2 contracts

Samples: Pioneer Financial Services Inc, Pioneer Financial Services Inc

Rescission of Payments. If at any time any payment made by the Borrower under this Note is Agreement shall be rescinded or must otherwise be restored or returned upon the insolvency, bankruptcy or reorganization of the Borrower or otherwise, the Borrower’s 's obligation to make such payment shall be reinstated as though such payment had not been made.

Appears in 2 contracts

Samples: Loan and Security Agreement (Carolina Complete Health Network, Inc.), Loan and Security Agreement (Carolina Complete Health Network, Inc.)

Rescission of Payments. If at any time any payment made by the Borrower under against this Note (whether payment is made by Borrower or any other Person) is rescinded or must otherwise be restored or returned upon the insolvency, bankruptcy bankruptcy, or reorganization of Borrower or such other Person who made the Borrower payment, or otherwise, or if any check or other written order to pay any amount to Payee is dishonored or returned as unpaid by the Borrowerbank against whom it is drawn, Xxxxxxxx’s obligation to make such payment shall be reinstated as though such payment had not been made.

Appears in 1 contract

Samples: Yunhong CTI Ltd.

Rescission of Payments. If at any time any payment made by the Borrower under this Note is rescinded or must otherwise be restored or returned upon the insolvency, bankruptcy bankruptcy, or reorganization of the Borrower or otherwise, the Borrower’s obligation to make such payment shall be reinstated as though such payment had not been made.

Appears in 1 contract

Samples: Greenlane Holdings, Inc.

Rescission of Payments. If at any time any payment made by the Borrower Buyer under this Note is rescinded or must otherwise be restored or returned upon the insolvency, bankruptcy or reorganization of the Borrower Buyer or otherwise, the BorrowerBuyer’s obligation to make such payment shall be reinstated as though such payment had not been made.

Appears in 1 contract

Samples: Financing and Purchase Agreement

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Rescission of Payments. If at any time any payment made by the Borrower under this Note (whether by Borrower or any other person) is rescinded or must otherwise be restored or returned upon the insolvency, bankruptcy bankruptcy, or reorganization of Borrower or the Borrower person who made the payment, or otherwise, or if any check or other written order to pay any amount to Lender is dishonored or returned as unpaid by the Borrowerfinancial institution against which it is drawn, Bxxxxxxx’s obligation to make such that payment shall be reinstated as though such the payment had not been made.

Appears in 1 contract

Samples: Employment Agreement (Evolution Development Group, Inc.)

Rescission of Payments. If at any time any payment made by the Borrower under this Note is rescinded or must otherwise be restored or returned upon the insolvency, bankruptcy or reorganization of the Borrower or otherwise, the Borrower’s obligation to make such payment shall be reinstated as though such payment had not been made.. 2.9

Appears in 1 contract

Samples: Margin Loan Agreement (Teekay Corp)

Rescission of Payments. If at any time any payment made by the Borrower under this Note is rescinded or must otherwise be restored or returned upon the insolvency, bankruptcy or reorganization of the Borrower or otherwise, the Borrower’s obligation to make such payment shall be reinstated as though such payment had not been made.

Appears in 1 contract

Samples: Akers Biosciences, Inc.

Rescission of Payments. If at any time any payment made by the Borrower under this Note is rescinded or must otherwise be restored or returned upon the insolvency, bankruptcy or reorganization of one of the Borrower or any endorser, guarantor and surety of this Note or otherwise, the Borrower’s 's obligation to make such payment shall be reinstated as though such payment had not been made.

Appears in 1 contract

Samples: Fifteen Five Partners PBC

Rescission of Payments. If at any time any payment made by the Borrower Borrowers under this Note is rescinded or must otherwise be restored or returned upon the insolvency, bankruptcy bankruptcy, or reorganization of the any Borrower or otherwise, the Borrower’s Borrowers’ obligation to make such payment shall be reinstated as though such payment had not been made.

Appears in 1 contract

Samples: Athena Bitcoin Global

Rescission of Payments. If at any time any payment made by the Borrower under this Note is rescinded or must otherwise be restored or returned upon the insolvency, bankruptcy bankruptcy, or reorganization of the Borrower or otherwise, the Borrower’s 's obligation to make such payment shall be reinstated as though such payment had not been made.

Appears in 1 contract

Samples: INNOVATE Corp.

Rescission of Payments. If at any time any payment made by the Borrower under this Note is rescinded or must otherwise be restored or returned upon the insolvency, bankruptcy bankruptcy, or reorganization of the Borrower or otherwise, the Borrower’s obligation to make such payment shall will be reinstated as though such payment had not been made.

Appears in 1 contract

Samples: iCoreConnect Inc.

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