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 (Aftersoft Group)

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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)

Reversal of Payments. To the extent that any the Borrower makes a payment or payments made to or received by the Lender pursuant to this Agreement Lender, 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 proceeds had not been received by the Lender.

Appears in 1 contract

Samples: Credit Agreement (Penske Motorsports Inc)

Reversal of Payments. To the extent that the Lender receives any payment, which payment or payments made to or received by the Lender pursuant to this Agreement or any other Loan Document are part thereof is 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 or proceeds 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 proceeds had not been received by the Lender.

Appears in 1 contract

Samples: Credit Agreement (DCP Midstream, 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 and 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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