Restoration of Obligations. For the purposes of determining the amount of outstanding Senior Secured Obligations, if any Secured Party is required to deposit any Senior Preferential Payment in the Special Trust Account, then the obligations intended to be satisfied by such Senior Preferential Payment shall be revived, as of the date of the deposit of such amount with the Collateral Agent, in the amount of such Senior Preferential Payment and such obligation shall continue in full force and effect (and bear interest from such deposit date at the non-default rate as provided in the Senior Secured Notes, in the Credit Agreement, or in the Additional Facility as the case may be) as if such Secured Party had not received such payment. All such revived obligations shall be included as Senior Secured Obligations for purposes of allocating any payments under SECTION 5.10 and for applying the definitions of Required Secured Parties and Required Secured Parties. If any such revived obligation shall not be allowed as a claim under the Bankruptcy Code due to the fact that the Senior Preferential Payment has in fact been made by the Company, the Secured Parties shall make such other equitable arrangements for the purchase and sale of participations in the Senior Secured Obligations to effectuate the intent of this SECTION 5.13.
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Samples: Intercreditor and Collateral Agency Agreement (Resortquest International Inc)
Restoration of Obligations. For the purposes of determining the amount of outstanding Senior Secured Obligations, if any Secured Party is required to deposit any Senior Preferential Payment in the Special Trust Account, then the obligations intended to be satisfied by such Senior Preferential Payment shall be revived, as of the date of the deposit of such amount with the Collateral Agent, in the amount of such Senior Preferential Payment and such obligation shall continue in full force and effect (and and, if applicable, bear interest from such deposit date at the non-default rate as provided in the Senior Secured Notes, in Credit Agreement or the Credit JPMorgan Reimbursement Agreement, or in the Additional Facility as the case may be) as if such Secured Party had not received such paymentpayment but shall not otherwise be treated as a payment default. All such revived obligations shall be included as Senior Secured Obligations for purposes of allocating any payments under SECTION 5.10 and for applying the definitions of Required Secured Parties and Required Secured PartiesSection 14.10. If any such revived obligation shall not be allowed as a claim under the Bankruptcy Code due to the fact that the Senior Preferential Payment has in fact been made by the CompanyDebtor, the Secured Parties shall make such other equitable arrangements consistent with the order of the distribution of proceeds of Collateral provided for in Section 14.10(a) for the purchase and sale of participations in the Senior Secured Obligations to effectuate the intent of this SECTION 5.13Section 14.13.
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Samples: Security Agreement (Trex Co Inc)
Restoration of Obligations. For the purposes of determining the amount of outstanding Senior Secured Obligations, if any Secured Party is required to deposit any Senior Preferential Payment in the Special Trust Account, then the obligations intended to be satisfied by such Senior Preferential Payment shall be revived, as of the date of the deposit of such amount with the Collateral Agent, in the amount of such Senior Preferential Payment and such obligation shall continue in full force and effect (and and, if applicable, bear interest from such deposit date at the non-default rate as provided in the Senior Secured Notes, Notes or in the Credit Agreement, Agreement or in the Additional Facility Documents, as the case may be) as if such Secured Party had not received such payment. All such revived obligations shall be included as Senior Secured Obligations for purposes of allocating any payments under SECTION 5.10 §6.10 and for applying the definitions definition of Required Secured Parties and Required Secured Parties. If any such revived obligation shall not be allowed as a claim under the Bankruptcy Code due to the fact that the Senior Preferential Payment has in fact been made by the Company, the Secured Parties shall make such other equitable arrangements for the purchase and sale of participations in the Senior Secured Obligations to effectuate the intent of this SECTION 5.13§6.13.
Appears in 1 contract
Samples: Intercreditor and Collateral Agency Agreement (Trex Co Inc)
Restoration of Obligations. For the purposes of determining the amount of outstanding Senior Secured Obligations, if any Secured Party is required to deposit any Senior Preferential Payment in the Special Trust Account, then the obligations intended to be satisfied by such Senior Preferential Payment shall be revived, as of the date of the deposit of such amount with the Collateral Agent, in the amount of such Senior Preferential Payment and such obligation shall continue in full force and effect (and and, if applicable, bear interest from such deposit date at the non-default rate as provided in the Senior Secured Notes, Notes or in the Credit Agreement, Agreement or in the Additional Facility Documents, as the case may be) as if such Secured Party had not received such payment. All such revived obligations shall be included as Senior Secured Obligations for purposes of allocating any payments under SECTION 5.10 (S)6.10 and for applying the definitions definition of Required Secured Parties and Required Secured Parties. If any such revived obligation shall not be allowed as a claim under the Bankruptcy Code due to the fact that the Senior Preferential Payment has in fact been made by the Company, the Secured Parties shall make such other equitable arrangements for the purchase and sale of participations in the Senior Secured Obligations to effectuate the intent of this SECTION 5.13(S)6.13.
Appears in 1 contract
Samples: Intercreditor and Collateral Agency Agreement (Trex Co Inc)