Common use of Return of Amounts Clause in Contracts

Return of Amounts. In the event that any Senior Creditor which shall receive any payments pursuant to Section 3.4 above (a “Recovering Party”) shall be legally required to return or repay any Recovery to any of the Obligors, or the representative or successor in interest of any of the Obligors because any such payments are subsequently invalidated, voided, declared to be fraudulent or preferential, set aside or required to be paid to a trustee under the bankruptcy code, each other Senior Creditor which shall have received any portion of such Recovery shall, promptly upon its receipt of notice thereof from the Collateral Agent or such Recovering Party, pay to the Collateral Agent such portion, and the Collateral Agent shall promptly return such portion to such Obligors, their representative or successor in interest of such Obligors, as the case may be. If any such Recovery, or any part thereof, is subsequently re-recovered by the Recovering Party from any Obligors or the representative or successor in interest of the Obligors, such Recovery shall be paid by the Recovering Party to the Collateral Agent, and the Collateral Agent shall redistribute such Recovery to the other Senior Creditors on the same basis as such amounts were originally distributed. In addition, if any Senior Creditor shall have its right to share in the proceeds of any part of the Collateral released, terminated or invalidated, whether voluntarily or involuntarily, then such proceeds shall be reallocated among the Senior Creditors entitled to receive such proceeds and the indebtedness owing to such Senior Creditor shall no longer be considered in determining the allocation of proceeds received with respect to said Collateral, and such Senior Creditor shall have no claim on said Collateral or the proceeds thereof. The obligations of the Senior Creditors and the Collateral Agent under this paragraph shall survive the repayment of the Obligations and the termination of the Collateral Documents.

Return of Amounts. In the event If any Creditor that receives any Senior Recovery (such Creditor which shall receive any payments pursuant is herein referred to Section 3.4 above (as a “"Recovering Party”") shall be is legally required to return or repay any or all of such Recovery to any of the ObligorsCompany, or the representative or successor in interest of any of the Obligors because any Company, whether required pursuant to a settlement approved by such payments are subsequently invalidated, voided, declared to be fraudulent Creditor or preferential, set aside or required by court order (the portion required to be paid so returned or repaid being hereinafter referred to as a trustee under the bankruptcy code"Recovered Payment"), then each other Senior Creditor which shall have received any portion of such Recovery Recovered Payment as Excess Amount under Section 4.4 above shall, promptly upon its receipt of notice thereof from the Collateral Agent or such Recovering Party, pay to the Collateral Agent such portionportion (without interest), and the Collateral Agent shall promptly return such portion to such Obligors, their representative or successor in interest of such Obligors, as the case may beRecovering Party. If any such RecoveryRecovered Payment, or any part thereof, is subsequently re-recovered by the Recovering Party from any Obligors the Company or the representative or successor in interest of the ObligorsCompany, such Recovery shall Recovered Payment, or any part thereof, shall, to the extent required by Section 4.4 hereof, be paid by the Recovering Party to the Collateral AgentAgent (without interest), and the Collateral Agent shall redistribute such Recovery Recovered Payment to the other Senior Creditors on the same basis as such amounts were originally distributed. In addition, if and to the extent any Senior Creditor shall have its right to share in the proceeds of any part of the Collateral released, terminated or invalidated, whether voluntarily or involuntarilyinvoluntary, then such proceeds shall be reallocated to such extent among the Senior other Creditors entitled to receive such proceeds and ratably in accord with the indebtedness owing respective shares thereof to such Senior Creditor shall no longer be considered in determining the allocation of proceeds received with respect to said Collateral, which they are entitled and such Senior Creditor shall have no claim on said such Collateral or the proceeds thereofthereof to such extent. The obligations of the Senior Creditors and the Collateral Agent under this paragraph shall survive the repayment of the Obligations and the termination of the Collateral Security Documents.

Return of Amounts. In the event If any Creditor that receives any Senior Recovery (such Creditor which shall receive any payments pursuant is herein referred to Section 3.4 above (as a “"Recovering Party”") shall be is legally required to return or repay any or all of such Recovery to any of the ObligorsCompany, or the representative or successor in interest of any of the Obligors because any Company, whether required pursuant to a settlement approved by such payments are subsequently invalidated, voided, declared to be fraudulent Creditor or preferential, set aside or required by court order (the portion required to be paid so returned or repaid being hereinafter referred to as a trustee under the bankruptcy code"Recovered Payment"), then each other Senior Creditor which shall have received any portion of such Recovery Recovered Payment as Excess Amount under Section 4.4 above shall, promptly upon its receipt of notice thereof from the Collateral Agent or such Recovering Party, pay to the Collateral Agent such portionportion (without interest), and the Collateral Collateral-Agent shall promptly return such portion to such Obligors, their representative or successor in interest of such Obligors, as the case may beRecovering Party. If any such RecoveryRecovered Payment, or any part thereof, is subsequently re-recovered by the Recovering Party from any Obligors the Company or the representative or successor in interest of the ObligorsCompany, such Recovery shall Recovered Payment, or any part thereof, shall, to the extent required by Section 4.4 hereof, be paid by the Recovering Party to the Collateral AgentAgent (without interest), and the Collateral Agent shall redistribute such Recovery Recovered Payment to the other Senior Creditors on the same basis as such amounts were originally distributed. In addition, if and to the extent any Senior Creditor shall have its right to share in the proceeds of any part of the Collateral released, terminated or invalidated, whether voluntarily or involuntarilyinvoluntary, then such proceeds shall be reallocated to such extent among the Senior other Creditors entitled to receive such proceeds and ratably in accord with the indebtedness owing respective shares thereof to such Senior Creditor shall no longer be considered in determining the allocation of proceeds received with respect to said Collateral, which they are entitled and such Senior Creditor shall have no claim on said such Collateral or the proceeds thereofthereof to such extent. The obligations of the Senior Creditors and the Collateral Agent under this paragraph shall survive the repayment of the Obligations and the termination of the Collateral Security Documents.

Return of Amounts. In the event that any Senior Creditor which shall receive any payments pursuant to Section 3.4 above (a “Recovering Party”) shall be legally required to return or repay any Recovery to any of the Obligors, or the representative or successor in interest of any of the Obligors because any such payments are subsequently invalidated, voided, declared to be fraudulent or preferential,, set aside or required to be paid to a trustee under the bankruptcy code, each other Senior Creditor which shall have received any portion of such Recovery shall, promptly upon its receipt of notice thereof from the Collateral Agent or such Recovering Party, pay to the Collateral Agent such portion, and the Collateral Agent shall promptly return such portion to such Obligors, their representative or successor in interest of such Obligors, as the case may be. If any such Recovery, or any part thereof, is subsequently re-re recovered by the Recovering Party from any Obligors or the representative or successor in interest of the Obligors, such Recovery shall be paid by the Recovering Party to the Collateral Agent, and the Collateral Agent shall redistribute such Recovery to the other Senior Creditors on the same basis as such amounts were originally distributed. In addition, if any Senior Creditor shall have its right to share in the proceeds of any part of the Collateral released, terminated or invalidated, ; whether voluntarily or involuntarily, then such proceeds shall be reallocated among the Senior Creditors entitled to receive such proceeds and the indebtedness owing to such Senior Creditor shall no longer be considered in determining the allocation of proceeds received with respect to said Collateral, and such Senior Creditor shall have no claim on said Collateral or the proceeds thereof. The obligations of the Senior Creditors and the Collateral Agent under this paragraph shall survive the repayment of the Obligations and the termination of the Collateral Documents.