Common use of Reversal of Payments Clause in Contracts

Reversal of Payments. To the extent that any payment or payments made to or received by the Lender pursuant to this Agreement or any other Loan Document are subsequently invalidated, declared to be fraudulent or preferential, set aside, or required to be repaid to any trustee, receiver or other person under any state or federal bankruptcy or other such law, then, to the extent thereof, such amounts shall be revived as Obligations and continue in full force and effect hereunder as if such payment or payments had not been received by the Lender.

Appears in 19 contracts

Samples: Secured Revolving Credit Agreement (XZERES Corp.), Revolving Credit and Term Loan Agreement (Mam Software Group, Inc.), Revolving Credit and Term Loan Agreement (Afp Imaging Corp)

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Reversal of Payments. To the extent that any payment or payments made to or received by the Lender pursuant to this Agreement or any other Loan Document are subsequently invalidated, declared to be fraudulent or preferential, set aside, or required to be repaid to any trustee, receiver or other person Person under any state state, federal or federal other bankruptcy or other such applicable law, then, to the extent thereof, such amounts (and all Liens, rights and remedies therefore) shall be revived as Obligations (secured by all such Liens) and continue in full force and effect hereunder under this Agreement and under the other Loan Documents as if such payment or payments had not been received by the Lender.. This

Appears in 9 contracts

Samples: Loan and Security Agreement (Sifco Industries Inc), Loan and Security Agreement (Inseego Corp.), Loan and Security Agreement (FreightCar America, Inc.)

Reversal of Payments. To the extent that any payment or payments made to or received by the Lender pursuant to this Agreement or any other Loan Document are subsequently invalidated, declared to be fraudulent or preferential, set aside, or required to be repaid to any trustee, receiver or other person Person under any state state, federal or federal other bankruptcy or other such applicable law, then, to the extent thereof, such amounts (and all Liens, rights and remedies therefor) shall be revived as Obligations (secured by all such Liens) and continue in full force and effect hereunder under this Agreement and under the other Loan Documents as if such payment or payments had not been received by the Lender.. This

Appears in 5 contracts

Samples: Loan and Security Agreement (Salem Media Group, Inc. /De/), Loan and Security Agreement (Grove Collaborative Holdings, Inc.), Loan and Security Agreement (Janel Corp)

Reversal of Payments. To the extent that any Borrower makes a payment or payments made to or received by the Lender pursuant to this Agreement which payments or any other Loan Document part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside, or aside and/or required to be repaid to any a trustee, receiver or any other person party under any bankruptcy law, state or federal bankruptcy law, common law or other such lawequitable cause, then, to the extent thereofof such payment repaid, such amounts the Obligations or part thereof intended to be satisfied shall be revived as Obligations and continue continued in full force and effect hereunder as if such payment or payments had not been received by the Lender.

Appears in 3 contracts

Samples: Credit Agreement (Twin Disc Inc), Credit Agreement (Twin Disc Inc), Credit Agreement (Twin Disc Inc)

Reversal of Payments. To the extent that any payment or payments made to or received by the Lender pursuant to this Agreement Agreement, the Note or any other Loan Document are subsequently invalidated, declared to be fraudulent or preferential, set aside, or required to be repaid to any trustee, receiver or other person under any state or federal bankruptcy or other such law, then, to the extent thereof, such amounts shall be revived as Obligations and continue in full force and effect hereunder as if such payment or payments had not been received by the Lender.

Appears in 2 contracts

Samples: Loan Agreement (EVCI Career Colleges Holding Corp), Loan Agreement (Comvest Investment Partners Iii, Lp)

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Reversal of Payments. To the extent that any payment or payments made to or received by the Lender pursuant to this Agreement or any other Loan Document are subsequently invalidated, declared to be fraudulent or preferential, set aside, or required to be repaid to any trustee, receiver or other person Person under any state state, federal or federal other bankruptcy or other such applicable law, then, to the extent thereof, such amounts (and all Liens, rights and remedies therefore) shall be revived as Obligations and continue in full force and effect hereunder as if such payment or payments had not been received (secured by the Lender.all such

Appears in 1 contract

Samples: Loan & Security Agreement

Reversal of Payments. To the extent that any payment or payments made to or received by the Lender pursuant to this Agreement or any other Loan Document the Note are subsequently invalidated, declared to be fraudulent or preferential, set aside, or required to be repaid to any trustee, receiver or other person under any state or federal bankruptcy or other such law, then, to the extent thereof, such amounts shall be revived as Obligations and continue in full force and effect hereunder as if such payment or payments had not been received by the Lender.

Appears in 1 contract

Samples: Loan Agreement (Fine Air Services Corp)

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