Resurrection of Borrower's Obligations. To the extent that any of the Banks receives any payment on account of any of Borrower's Obligations, and any such payment(s) or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside, subordinated and/or required to be repaid to a trustee, receiver or any other Person under any bankruptcy act, state or Federal law, common law or equitable cause, then, to the extent of such payment(s) received, Borrower's Obligations or part thereof intended to be satisfied and any and all Liens upon or pertaining to any Property or assets of Borrower and theretofore created and/or existing in favor of such Bank(s) as security for the payment of such Borrower's Obligations shall be revived and continue in full force and effect, as if such payment(s) had not been received by such Bank(s) and applied on account of Borrower's Obligations.
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Samples: Revolving Credit Agreement (Cpi Corp), Revolving Credit and Term Loan Agreement (Doane Products Co), Revolving Credit and Term Loan Agreement (Doane Products Co)
Resurrection of Borrower's Obligations. To the extent that any of the Banks Bank receives any payment on account of any of Borrower's Obligations, and any such payment(s) or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside, subordinated and/or required to be repaid to a trustee, receiver or any other Person under any bankruptcy act, state or Federal law, common law or equitable cause, then, to the extent of such payment(s) received, Borrower's Obligations or part thereof intended to be satisfied and any and all Liens upon or pertaining to any Property property or assets of Borrower and theretofore created and/or existing in favor of such Bank(s) Bank as security for the payment of such Borrower's Obligations shall be revived and continue in full force and effect, as if such payment(s) had not been received by such Bank(s) Bank and applied on account of Borrower's Obligations.
Appears in 2 contracts
Samples: Loan Agreement (Avteam Inc), Loan Agreement (First American Railways Inc)
Resurrection of Borrower's Obligations. To the extent that any of the Banks Bank receives any payment on account of any of Borrower's Borrowers' Obligations, and any such payment(s) or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside, subordinated and/or required to be repaid to a trustee, receiver or any other Person under any bankruptcy act, state or Federal law, common law or equitable cause, then, to the extent of such payment(s) received, Borrower's Borrowers' Obligations or part thereof intended to be satisfied and any and all Liens upon or pertaining to any Property or assets of Borrower any of the Borrowers and theretofore created and/or existing in favor of such Bank(s) Bank as security for the payment of such Borrower's Borrowers' Obligations shall be revived and continue in full force and effect, as if such payment(s) had not been received by such Bank(s) Bank and applied on account of Borrower's Borrowers' Obligations.
Appears in 2 contracts
Samples: Credit Agreement (Agri Nutrition Group LTD), Credit Agreement (Virbac Corp)
Resurrection of Borrower's Obligations. To the extent that any of the Banks receives any payment on account of any of Borrower's Obligations, and any such payment(s) or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside, subordinated and/or required to be repaid to a trustee, receiver or any other Person under any bankruptcy act, state or Federal federal law, common law or equitable cause, then, to the extent of such payment(s) received, Borrower's Obligations or part thereof intended to be satisfied and any and all Liens upon or pertaining to any Property or assets of Borrower and theretofore created and/or existing in favor of such Bank(s) as security for the payment of such Borrower's Obligations shall be revived and continue in full force and effect, as if such payment(s) had not been received by such Bank(s) and applied on account of Borrower's Obligations.
Appears in 2 contracts
Samples: Revolving Credit Agreement (Halter Marine Group Inc), Revolving Credit Agreement (Superior Energy Services Inc)
Resurrection of Borrower's Obligations. To the extent that any of the Banks Bank receives any payment on account of any of Borrower's Obligations, and any such payment(s) or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside, subordinated and/or required to be repaid to a trustee, receiver or any other Person under any bankruptcy act, state or Federal law, common law or equitable cause, then, to the extent of such payment(s) received, Borrower's Obligations or part thereof intended to be satisfied and any and all Liens upon or pertaining to any Property or assets of Borrower and theretofore created and/or existing in favor of such Bank(s) Bank as security for the payment of such Borrower's Obligations shall be revived and continue in full force and effect, as if such payment(s) had not been received by such Bank(s) Bank and applied on account of Borrower's Obligations.
Appears in 1 contract
Samples: Revolving Credit Agreement (Agri Nutrition Group LTD)
Resurrection of Borrower's Obligations. To the extent that any of the Banks receives any payment on account of any of Borrower's Obligations, and any such payment(s) or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside, subordinated and/or required to be repaid to a trustee, receiver or any other Person under any bankruptcy act, state or Federal law, common law or equitable cause, then, to the extent of such payment(s) received, Borrower's Obligations or part thereof intended to be satisfied and any and all Liens upon or pertaining to any Property or assets of Borrower or any of the Guarantors and theretofore created and/or existing in favor of such Bank(s) or the Collateral Agent as security for the payment of such Borrower's Obligations shall be revived and continue in full force and effect, as if such payment(s) had not been received by such Bank(s) and applied on account of Borrower's Obligations.
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Resurrection of Borrower's Obligations. To the extent that any of the Banks Lender receives any payment on account of any of Borrower's Obligations, and any such payment(s) or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside, subordinated and/or required to be repaid to a trustee, receiver or any other Person under any bankruptcy act, state or Federal federal law, common law or equitable cause, then, to the extent of such payment(s) received, Borrower's Obligations or part thereof intended to be satisfied and any and all Liens upon or pertaining to any Property property or assets of Borrower and theretofore created and/or existing in favor of such Bank(s) Lender as security for the payment of such Borrower's Obligations shall be revived and continue in full force and effect, as if such payment(s) had not been received by such Bank(s) Lender and applied on account of Borrower's Obligations.
Appears in 1 contract
Samples: Revolving Credit and Term Loan Agreement (Falconite Inc)
Resurrection of Borrower's Obligations. To the extent that any of the Banks Lender -------------------------------------- receives any payment on account of any of Borrower's Obligations, and any such payment(s) or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside, subordinated and/or required to be repaid to a trustee, receiver or any other Person under any bankruptcy act, state or Federal law, common law or equitable cause, then, to the extent of such payment(s) received, Borrower's Obligations or part thereof intended to be satisfied and any and all Liens upon or pertaining to any Property or assets of Borrower and theretofore created and/or existing in favor of such Bank(s) Lender as security for the payment of such Borrower's Obligations shall be revived and continue in full force and effect, as if such payment(s) had not been received by such Bank(s) Lender and applied on account of Borrower's Obligations.
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Resurrection of Borrower's Obligations. To the extent that any of the Banks Bank receives any payment on account of any of Borrower's Borrowers' Obligations, and any such payment(s) or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside, subordinated and/or required to be repaid to a trustee, receiver or any other Person under any bankruptcy act, state or Federal law, common law or equitable cause, then, to the extent of such payment(s) received, Borrower's Borrowers' Obligations or part thereof intended to be satisfied and any and all Liens upon or pertaining to any Property or assets of Borrower either of the Borrowers and theretofore created and/or existing in favor of such Bank(s) Bank as security for the payment of such Borrower's Borrowers' Obligations shall be revived and continue in full force and effect, as if such payment(s) had not been received by such Bank(s) Bank and applied on account of Borrower's Borrowers' Obligations.
Appears in 1 contract
Samples: Revolving Credit Agreement (Agri Nutrition Group LTD)
Resurrection of Borrower's Obligations. To the extent that any of the Banks Lender receives any payment on account of any of Borrower's ’s Obligations, and any such payment(s) or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside, subordinated and/or required to be repaid to a trustee, receiver or any other Person under any bankruptcy act, state or Federal law, common law or equitable cause, then, to the extent of such payment(s) received, Borrower's ’s Obligations or part thereof intended to be satisfied and any and all Liens upon or pertaining to any Property or assets of Borrower or Guarantor and theretofore created and/or existing in favor of such Bank(s) Lender as security for the payment of such Borrower's ’s Obligations shall be revived and continue in full force and effect, as if such payment(s) had not been received by such Bank(s) Lender and applied on account of Borrower's ’s Obligations.
Appears in 1 contract
Samples: Loan Agreement (Broadridge Financial Solutions, Inc.)
Resurrection of Borrower's Obligations. To the extent that any of the Banks Lender receives any payment on account of any of Borrower's ’s Obligations, and any such payment(s) or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside, subordinated and/or required to be repaid to a trustee, receiver or any other Person under any bankruptcy act, state or Federal law, common law or equitable cause, then, to the extent of such payment(s) received, Borrower's ’s Obligations or part thereof intended to be satisfied and any and all Liens upon or pertaining to any Property or assets of Borrower and theretofore created and/or existing in favor of such Bank(s) Lender as security for the payment of such Borrower's ’s Obligations shall be revived and continue in full force and effect, as if such payment(s) had not been received by such Bank(s) Lender and applied on account of Borrower's ’s Obligations.
Appears in 1 contract
Samples: Financing Agreement (Vanguard Car Rental Group Inc.)
Resurrection of Borrower's Obligations. To the extent that any of the Banks Lender receives any payment on account of any of Borrower's Obligations, and any such payment(s) or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside, subordinated and/or required to be repaid to a trustee, receiver or any other Person under any bankruptcy act, state or Federal law, common law or equitable cause, then, to the extent of such payment(spayment (s) received, Borrower's Obligations or part thereof intended to be satisfied and any and all Liens liens, security interests, mortgages, deeds of trust and/or other encumbrances upon or pertaining to any Property or assets of Borrower and theretofore created and/or existing in favor of such Bank(s) Lender as security for the payment of such Borrower's Obligations shall be revived and continue in full force and effect, as if such payment(s) had not been received by such Bank(s) Lender and applied on account of Borrower's Obligations.
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Resurrection of Borrower's Obligations. To the extent that Agent or any of the Banks Lender receives any payment on account of any of Borrower's ’s Obligations, and any such payment(s) or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside, subordinated and/or required to be repaid to a trustee, receiver or any other Person under any bankruptcy act, state or Federal lawLaw, common law or equitable cause, then, to the extent of such payment(s) received, Borrower's ’s Obligations or part thereof intended to be satisfied and any and all Liens upon or pertaining to any Property or assets of Borrower and theretofore created and/or existing in favor of such Bank(s) Agent for the benefit of Lenders as security for the payment of such Borrower's ’s Obligations shall be revived and continue in full force and effect, as if such payment(s) had not been received by such Bank(s) Agent or any Lender and applied on account of Borrower's ’s Obligations.
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Resurrection of Borrower's Obligations. To the extent that any of the Banks Lender receives any payment on account of any of Borrower's Obligationsobligations, and any such payment(s) or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside, subordinated and/or required to be repaid to a trustee, receiver or any other Person person under any bankruptcy act, state or Federal federal law, common law or equitable cause, then, to the extent of such payment(s) received, Borrower's Obligations obligations or part thereof intended to be satisfied and any and all Liens upon or pertaining to any Property or assets of Borrower Collateral and theretofore created and/or existing in favor of such Bank(s) Lender as security for the payment of such Borrower's Obligations obligations shall be revived and continue in full force and effect, as if such payment(s) had not been received by such Bank(s) Lender and applied on account of Borrower's Obligationsobligations.
Appears in 1 contract
Samples: Loan Agreement (Tipperary Corp)