Common use of Resurrection of Borrower's Obligations Clause in Contracts

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.

Appears in 6 contracts

Samples: Assignment and Assumption Agreement (Doane Pet Care Co), Revolving Credit Agreement (Cpi Corp), Assignment and Assumption Agreement (Doane Products Co)

AutoNDA by SimpleDocs

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 (Virbac Corp), 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 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 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 (First American Railways Inc), Loan Agreement (Avteam 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.

Appears in 1 contract

Samples: Loan Agreement (Team Financial Inc /Ks)

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 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.

Appears in 1 contract

Samples: Term Loan Agreement (Hennessy Advisors 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 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)

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 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)

AutoNDA by SimpleDocs

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.

Appears in 1 contract

Samples: Loan Agreement (Hennessy Advisors 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 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.

Appears in 1 contract

Samples: Loan Agreement (Hennessy Advisors Inc)

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.

Appears in 1 contract

Samples: Revolving Credit Agreement (Huntco 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 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.

Appears in 1 contract

Samples: Loan Agreement (Liberty Bancshares Inc /Mo)

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 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) 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 (Hennessy Advisors Inc)

Time is Money Join Law Insider Premium to draft better contracts faster.