Common use of Rescission of Payments Clause in Contracts

Rescission of Payments. If at any time payment of any of the Liabilities or any part thereof is rescinded or must otherwise be restored or returned by Lender upon the insolvency, bankruptcy or reorganization of Borrower or under any other circumstances whatsoever, this Guaranty shall, upon such rescission, restoration or return, continue to be effective or shall (if previously terminated) be reinstated, as the case may be, as if such payment had not been made.

Appears in 22 contracts

Samples: Guaranty Agreement (Global Net Lease, Inc.), Guaranty Agreement (Global Net Lease, Inc.), Guaranty Agreement (Necessity Retail REIT, Inc.)

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Rescission of Payments. If at any time payment of any of the Liabilities or any part thereof is rescinded or must otherwise be restored or returned by Lender LENDER upon the insolvency, bankruptcy or reorganization of Borrower BORROWER or under any other circumstances whatsoever, this Guaranty shall, upon such rescission, restoration or return, shall continue to be effective or shall (if previously terminated) be reinstated, as the case may be, as if such payment had not been made.

Appears in 1 contract

Samples: Guaranty Agreement (PBSJ Corp /Fl/)

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Rescission of Payments. If at any time payment of any of the Liabilities Guaranteed Obligations or any part thereof is rescinded or must otherwise be restored or returned by Lender upon the insolvency, bankruptcy or reorganization of Borrower or under any other circumstances whatsoever, this Guaranty shall, upon such rescission, restoration or return, continue to be effective or shall (if previously terminated) be reinstated, as the case may be, as if such payment had not been made.

Appears in 1 contract

Samples: Guaranty Agreement (Powin Energy Corp)

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