Common use of Reversal of Payments Clause in Contracts

Reversal of Payments. To the extent the Borrower makes a payment or payments to any Agent for the ratable benefit of the Lenders or any Agent receives any payment or proceeds of the collateral which payments or proceeds or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside and/or required to be repaid to a trustee, receiver or any other party under any bankruptcy law, state or federal law, common law or equitable cause, then, to the extent of such payment or proceeds repaid, the Obligations or part thereof intended to be satisfied shall be revived and continued in full force and effect as if such payment or proceeds had not been received by such Agent.

Appears in 21 contracts

Samples: Credit Agreement (Cooper River Properties LLC), Credit Agreement (Insignia Properties Trust /), Credit Agreement (Cooper River Properties LLC)

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Reversal of Payments. To the extent the Borrower makes a payment or payments to any the Agent for the ratable benefit of the Lenders or any the Agent receives any payment or proceeds of the collateral which payments or proceeds or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside and/or required to be repaid to a trustee, receiver or any other party under any bankruptcy law, state or federal law, common law or equitable cause, then, to the extent of such payment or proceeds repaid, the Obligations or part thereof intended to be satisfied shall be revived and continued in full force and effect as if such payment or proceeds had not been received by such the Agent.

Appears in 8 contracts

Samples: Credit Agreement (Roanoke Electric Steel Corp), Credit Agreement (Markel Corp), Credit Agreement (Golf Trust of America Inc)

Reversal of Payments. To the extent the Borrower makes a payment or payments to any the Administrative Agent for the ratable benefit of the Lenders or any the Administrative Agent receives any payment or proceeds of the collateral which payments or proceeds or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside and/or required to be repaid to a trustee, receiver or any other party under any bankruptcy law, state or federal law, common law or equitable cause, then, to the extent of such payment or proceeds repaid, the Obligations or part thereof intended to be satisfied shall be revived and continued in full force and effect as if such payment or proceeds had not been received by such the Administrative Agent.

Appears in 5 contracts

Samples: Credit Agreement (Blackbaud Inc), Credit Agreement (Blackbaud Inc), Credit Agreement (Blackbaud Inc)

Reversal of Payments. To the extent the Borrower makes Borrowers make a payment or payments to any the Agent for the ratable benefit of the Lenders or any the Agent receives any payment or proceeds of the collateral which payments or proceeds or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside and/or required to be repaid to a trustee, receiver or any other party under any bankruptcy law, state or federal law, common law or equitable cause, then, to the extent of such payment or proceeds repaid, the Obligations or part thereof intended to be satisfied shall be revived and continued in full force and effect as if such payment or proceeds had not been received by such the Agent.

Appears in 5 contracts

Samples: Credit and Security Agreement (Seacastle Inc.), Credit and Security Agreement (Interpool Inc), Credit Agreement (Rare Hospitality International Inc)

Reversal of Payments. To the extent the a Borrower makes a payment or payments to any the Administrative Agent for the ratable benefit of the Lenders or any the Administrative Agent receives any payment or proceeds of the collateral which payments or proceeds or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside and/or required to be repaid to a trustee, receiver or any other party under any bankruptcy law, state or federal law, common law or equitable cause, then, to the extent of such payment or proceeds repaid, the Obligations or part thereof intended to be satisfied shall be revived and continued in full force and effect as if such payment or proceeds had not been received by such the Administrative Agent.

Appears in 4 contracts

Samples: Credit Agreement (Blackbaud Inc), Credit Agreement (Blackbaud Inc), Credit Agreement (Blackbaud Inc)

Reversal of Payments. To the extent the Borrower makes a payment or payments to any Agent for the ratable benefit of Bank or the Lenders or any Agent Bank receives any payment or proceeds Proceeds of the collateral Collateral for the Borrower's benefit, which payments payment(s) or proceeds or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside and/or or required to be repaid to a trustee, receiver or any other party under any bankruptcy law, state or federal law, common law or equitable cause, then, to the extent of such payment or proceeds repaidreceived, the Obligations or part thereof intended to be satisfied shall be revived and continued continue in full force and effect effect, as if such payment or proceeds had not been received by such Agentthe Bank.

Appears in 2 contracts

Samples: Loan Agreement (Greg Manning Auctions Inc), Loan Agreement (Greg Manning Auctions Inc)

Reversal of Payments. To the extent the any Borrower makes a payment or payments to any the Agent for the ratable benefit of the Lenders or any the Agent receives any payment or proceeds of the collateral which payments or proceeds or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside and/or required to be repaid to a trustee, receiver or any other party under any bankruptcy law, state or federal law, common law or equitable cause, then, to the extent of such payment or proceeds repaid, the Obligations or part thereof intended to be satisfied shall be revived and continued in full force and effect as if such payment or proceeds had not been received by such the Agent.

Appears in 1 contract

Samples: Credit Agreement (Cornerstone Realty Income Trust Inc)

Reversal of Payments. To the extent the Borrower makes a payment or payments to any the Agent for the ratable benefit of the Lenders or any the Agent receives any payment or proceeds of the collateral Collateral which payments or proceeds or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside and/or or required to be repaid to a trustee, receiver or any other party under any bankruptcy law, state or federal law, common law or equitable cause, then, to the extent of such payment or proceeds repaid, the Obligations or part thereof intended to be satisfied shall be revived and continued in full force and effect as if such payment or of proceeds had not been received by such the Agent.

Appears in 1 contract

Samples: Revolving Intercreditor Agreement (Frederick's of Hollywood Group Inc /Ny/)

Reversal of Payments. 145 To the extent the Borrower any Credit Party makes a payment or payments to any the Agent for the ratable benefit of the Lenders or any the Agent receives any payment or proceeds of the collateral Collateral which payments or proceeds or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside and/or required to be repaid to a trustee, receiver or any other party under any bankruptcy law, state or federal law, common law or equitable cause, then, to the extent of such payment or proceeds repaid, the Obligations or part thereof intended to be satisfied shall be revived and continued in full force and effect as if such payment or proceeds had not been received by such the Agent.

Appears in 1 contract

Samples: Credit Agreement (TransMontaigne Partners L.P.)

Reversal of Payments. To the extent the Borrower makes a payment or payments to any the Agent for the ratable benefit of the Lenders or any the Agent receives any payment or proceeds of the collateral Collateral for the Borrower's benefit which payments or proceeds or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside and/or required to be repaid to a trustee, receiver or any other party under any bankruptcy law, state or federal law, common law or equitable cause, then, to the extent of such payment or proceeds repaidreceived, the Obligations or part thereof intended to be satisfied shall be revived and continued in full force and effect as if such payment or proceeds had not been received by such the Agent.

Appears in 1 contract

Samples: Credit Agreement (Healthplan Services Corp)

Reversal of Payments. To the extent the Borrower makes a payment or payments to any Agent for the ratable benefit of Issuing Lender or the Lenders or any Agent Issuing Lender receives any payment or proceeds of the collateral which payments or proceeds or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside and/or required to be repaid to a trustee, receiver or any other party under any bankruptcy law, state or federal law, common law or equitable cause, then, to the extent of such payment or proceeds repaid, the Obligations obligations hereunder or part thereof intended to be satisfied shall be revived and continued in full force and effect as if such payment or proceeds had not been received by such Agentthe Issuing Lender.

Appears in 1 contract

Samples: Corrections Corporation of America

Reversal of Payments. To the extent the Borrower makes a payment or payments to any the Agent for the ratable benefit of the Lenders or any the Agent receives any payment or proceeds of the collateral Collateral which payments or proceeds or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside and/or required to be repaid to a trustee, receiver or any other party under any bankruptcy law, state or federal law, common law or equitable cause, then, to the extent of such payment or proceeds repaid, the Obligations or part thereof intended to be satisfied shall be revived and continued in full force and effect as if such payment or proceeds had not been received by such the Agent.

Appears in 1 contract

Samples: Credit Agreement (Corestaff Inc)

Reversal of Payments. To the extent the any Borrower makes a payment or payments to any Agent for the ratable benefit of the Lenders or any Agent receives any payment or proceeds of the collateral which payments or proceeds or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside and/or required to be repaid to a trustee, receiver or any other party under any bankruptcy law, state or federal law, common law or equitable cause, then, to the extent of such payment or proceeds repaid, the Obligations or part thereof intended to be satisfied shall be revived and continued in full force and effect as if such payment or proceeds had not been received by such Agent.. SECTION 14.8

Appears in 1 contract

Samples: Credit Agreement (Duratek Inc)

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Reversal of Payments. To the extent the Borrower makes a payment or payments to any the Agent for the ratable benefit of the Term Lenders or any the Agent receives any payment or proceeds of the collateral Collateral which payments or proceeds or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside and/or required to be repaid to a trustee, receiver or any other party under any bankruptcy law, state or federal law, common law or equitable cause, then, to the extent of such payment or proceeds repaid, the Obligations obligations or part thereof intended to be satisfied shall be revived and continued in full force and effect as if such payment or proceeds had not been received by such the Agent.

Appears in 1 contract

Samples: Term Loan Agreement (WLR Foods Inc)

Reversal of Payments. To the extent the any Borrower makes a -------------------- payment or payments to any Agent for the ratable benefit of the Lenders or any Agent receives any payment or proceeds of the collateral which payments or proceeds or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside and/or required to be repaid to a trustee, receiver or any other party under any bankruptcy law, state or federal law, common law or equitable cause, then, to the extent of such payment or proceeds repaid, the Obligations or part thereof intended to be satisfied shall be revived and continued in full force and effect as if such payment or proceeds had not been received by such Agent.

Appears in 1 contract

Samples: Credit Agreement (GTS Duratek Inc)

Reversal of Payments. To the extent the Borrower makes a payment or payments to any Administrative Agent for the ratable benefit of the Lenders or any Administrative Agent receives any payment or proceeds of the collateral which payments or proceeds or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside and/or required to be repaid to a trustee, receiver or any other party under any bankruptcy law, state or federal law, common law or equitable cause, then, to the extent of such payment or proceeds repaidreceived, the Obligations or part thereof intended to be satisfied shall be revived and continued in full force and effect as if such payment or proceeds had not been received by such Administrative Agent.

Appears in 1 contract

Samples: Credit Agreement (Radyne Corp)

Reversal of Payments. To the extent the Borrower makes a payment or payments to any Agent for the ratable benefit of the Lenders Lender or any Agent Lender receives any payment or proceeds of the any collateral security for Borrower's benefit which payments or proceeds or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside and/or required to be repaid to a trustee, receiver or any other party under any bankruptcy law, state or federal law, common law or equitable cause, then, to the extent of such payment or proceeds repaidreceived, the Obligations or part thereof intended to be satisfied shall be revived and continued in full force and effect as if such payment or proceeds had not been received by such AgentLender.

Appears in 1 contract

Samples: Credit Agreement (Medical Manager Corp)

Reversal of Payments. To the extent the Borrower makes Borrowers make a payment or payments to any the Agent for the ratable benefit of the Lenders or any the Agent receives any payment or proceeds of the collateral Collateral which payments or proceeds or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside and/or required to be repaid to a trustee, receiver or any other party under any bankruptcy law, state or federal law, common law or equitable cause, then, to the extent of such payment or proceeds repaid, the Obligations or part thereof intended to be satisfied shall be revived and continued in full force and effect as if such payment or proceeds had not been received by such the Agent.

Appears in 1 contract

Samples: Credit Agreement (Imagemax Inc)

Reversal of Payments. To the extent the Borrower makes a payment or payments to any the Agent for the ratable benefit of the Revolving Credit Lenders or any the Agent receives any payment or proceeds of the collateral Collateral which payments or proceeds or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside and/or required to be repaid to a trustee, receiver or any other party under any bankruptcy law, state or federal law, common law or equitable cause, then, to the extent of such payment or proceeds repaid, the Obligations obligations or part thereof intended to be satisfied shall be revived and continued in full force and effect as if such payment or proceeds had not been received by such the Agent.

Appears in 1 contract

Samples: Revolving Credit Agreement (WLR Foods Inc)

Reversal of Payments. To the extent the Borrower makes Borrowers make a payment or payments to any the Agent for the ratable benefit of the Lenders or any the Agent receives any payment or proceeds of the collateral Collateral which payments or proceeds or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside and/or required to be repaid to a trustee, receiver or any other party under any bankruptcy law, state or federal law, common law or equitable cause, then, to the extent of such payment or proceeds repaid, the Obligations or part thereof intended to be satisfied shall be revived and continued in full force and effect as if such payment or proceeds had not been received by such Agent.such

Appears in 1 contract

Samples: Credit Agreement (Imagemax Inc)

Reversal of Payments. To the extent the any Borrower makes a payment or payments to any Agent for the ratable benefit of the Lenders or any Agent receives any payment or proceeds of the collateral which payments or proceeds or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside and/or required to be repaid to a trustee, receiver or any other party under any bankruptcy law, state or federal law, common law or equitable cause, then, to the extent of such payment or proceeds repaid, the Obligations or part thereof intended to be satisfied shall be revived and continued in full force and effect as if such payment or proceeds had not been received by such Agent.

Appears in 1 contract

Samples: Credit Agreement (GTS Duratek Inc)

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