Common use of Revival and Reinstatement of Obligations Clause in Contracts

Revival and Reinstatement of Obligations. If the incurrence or payment of the Secured Obligations by the Borrowers or any Guarantor or the transfer to the Secured Creditors of any property should for any reason subsequently be asserted, or declared, to be void or voidable under any state or federal law relating to creditors’ rights, including provisions of the Bankruptcy Code relating to fraudulent conveyances, preferences, or other voidable or recoverable payments of money or transfers of property (each, a “Voidable Transfer”), and if the Secured Creditors are required to repay or restore, in whole or in part, any such Voidable Transfer, or elect to do so upon the reasonable advice of their counsel, then, as to any such Voidable Transfer, or the amount thereof that the Secured Creditors are required or elect to repay or restore, and as to all reasonable costs, expenses, and attorneys’ fees of the Secured Creditors related thereto, the liability of the Borrowers or the Guarantors automatically shall be revived, reinstated, and restored and shall exist as though such Voidable Transfer had never been made.

Revival and Reinstatement of Obligations. If the incurrence or payment of the Secured Obligations by the Borrowers Borrower or any Guarantor or the transfer to the Secured Creditors of any property should for any reason subsequently be asserted, or declared, to be void or voidable under any state or federal law relating to creditors’ rights, including provisions of the Bankruptcy Code relating to fraudulent conveyances, preferences, or other voidable or recoverable payments of money or transfers of property (each, a “Voidable Transfer”), and if the Secured Creditors are required to repay or restore, in whole or in part, any such Voidable Transfer, or elect to do so upon the reasonable advice of their counsel, then, as to any such Voidable Transfer, or the amount thereof that the Secured Creditors are required or elect to repay or restore, and as to all reasonable costs, expenses, and attorneys’ attorneys fees of the Secured Creditors related thereto, the liability of the Borrowers Borrower or the Guarantors such Guarantor automatically shall be revived, reinstated, and restored and shall exist as though such Voidable Transfer had never been made.

Revival and Reinstatement of Obligations. If the incurrence or payment of the Secured Obligations by the Borrowers Borrower or any Guarantor or the transfer to the Secured Creditors of any property should for any reason subsequently be asserted, or declared, to be void or voidable under any state or federal law relating to creditors’ rights, including provisions of the Bankruptcy Code relating to fraudulent conveyances, preferences, or other voidable or recoverable payments of money or transfers of property (each, a “Voidable Transfer”), and if the Secured Creditors are required to repay or restore, in whole or in part, any such Voidable Transfer, or elect to do so upon the reasonable advice of their counsel, then, as to any such Voidable Transfer, or the amount thereof that the Secured Creditors are required or elect to repay or restore, and as to all reasonable costs, expenses, and attorneys’ fees of the Secured Creditors related thereto, the liability of the Borrowers Borrower or the Guarantors such Guarantor automatically shall be revived, reinstated, and restored and shall exist as though such Voidable Transfer had never been made.

Revival and Reinstatement of Obligations. If the incurrence or payment of the Secured Obligations by the Borrowers Borrower or any Guarantor or the transfer to the Secured Creditors of any property should for any reason subsequently be asserted, or declared, to be void or voidable under any state or federal law relating to creditors’ rights, including provisions of the Bankruptcy Code relating to fraudulent conveyances, preferences, or other voidable or recoverable payments of money or transfers of property (each, a “Voidable Transfer”), and if the Secured Creditors are required to repay or restore, in whole or in part, any such Voidable Transfer, or elect to do so upon the reasonable advice of their counsel, then, as to any such Voidable Transfer, or the amount thereof that the Secured Creditors are required or elect to repay or restore, and as to all reasonable costs, expenses, and attorneys’ attorney’s fees of the Secured Creditors related thereto, the liability of the Borrowers Borrower or the Guarantors such Guarantor automatically shall be revived, reinstated, and restored and shall exist as though such Voidable Transfer had never been made.

Revival and Reinstatement of Obligations. If the incurrence or payment of the Secured Obligations by the Borrowers Borrower or any Guarantor guarantor of the Obligations or the transfer by either or both of such parties to the Secured Creditors Lender of any property of either or both of such parties should for any reason subsequently be asserted, or declared, declared to be void or voidable under any state or federal law relating to creditors’ rights, including provisions of the Bankruptcy Code relating to fraudulent conveyances, preferences, or and other voidable or recoverable payments of money or transfers of property (eachcollectively, a “Voidable Transfer”), and if the Secured Creditors are Lender is required to repay or restore, in whole or in part, any such Voidable Transfer, or elect elects to do so upon the reasonable advice of their its counsel, then, as to any such Voidable Transfer, or the amount thereof that the Secured Creditors are Lender is required or elect elects to repay or restore, and as to all reasonable costs, expenses, and attorneys’ attorneys fees of the Secured Creditors Lender related thereto, the liability of the Borrowers or the Guarantors Borrower and Guarantor automatically shall be revived, reinstated, and restored and shall exist as though such Voidable Transfer had never been made.

Revival and Reinstatement of Obligations. If the incurrence or payment of the Secured Obligations by the Borrowers or any Guarantor Pledgor, any Defeasance thereof or the transfer by such Pledgor to the Secured Creditors Trustee of any property of such Pledgor should for any reason subsequently be asserted, or declared, declared to be void or voidable under any state or federal law relating to creditors’ ' rights, including provisions of the Bankruptcy Code relating to fraudulent conveyances, preferences, or and other voidable or recoverable payments of money or transfers of property (eachcollectively, a “"Voidable Transfer”"), and if the Secured Creditors are Trustee is required to repay or restore, in whole or in part, any such Voidable Transfer, or elect elects to do so upon the reasonable advice of their its counsel, then, as to any such Voidable Transfer, or the amount thereof that the Secured Creditors are Trustee is required or elect elects to repay or restore, and as to all reasonable costs, expenses, and attorneys’ ' fees of the Secured Creditors Trustee related thereto, the liability of the Borrowers or the Guarantors such Pledgor automatically shall be revived, reinstated, and restored and shall exist as though such Voidable Transfer had never been made.

Revival and Reinstatement of Obligations. If the incurrence or payment of the Secured Obligations by the Borrowers or any Guarantor Borrower or the transfer to the Secured Creditors Bank or any Bank Product Provider of any property should for any reason subsequently be asserted, or declared, to be void or voidable under any state or federal law relating to creditors’ ' rights, including provisions of the Bankruptcy Code Debtor Relief Laws relating to fraudulent conveyances, preferences, or other voidable or recoverable payments of money or transfers of property (each, a “"Voidable Transfer”"), and if the Secured Creditors are Bank or such Bank Product Provider is required to repay or restore, in whole or in part, any such Voidable Transfer, or elect elects to do so upon the reasonable advice of their its counsel, then, as to any such Voidable Transfer, or the amount thereof that the Secured Creditors are Bank or such Bank Product Provider is required or elect elects to repay or restore, and as to all reasonable costs, expensesExpenses, and reasonable and documented outside attorneys’ ' fees of the Secured Creditors Bank and such Bank Product Provider related thereto, the liability of the Borrowers or the Guarantors Borrower automatically shall be revived, reinstated, and restored and shall exist as though such Voidable Transfer had never been made.

Revival and Reinstatement of Obligations. If the incurrence or payment of the Secured Obligations by the Borrowers Borrower or any Guarantor or the transfer to the Secured Creditors of any property should for any reason subsequently be asserted, or declared, to be void or voidable under any state or federal law relating to creditors’ rights, including provisions of the Bankruptcy Code relating to fraudulent conveyances, preferences, or other voidable or recoverable payments of money or transfers of property (each, a “Voidable Transfer”), and if the Secured Creditors are required to repay or restore, in whole or in part, any such Voidable Transfer, or elect to do so 157 upon the reasonable advice of their counsel, then, as to any such Voidable Transfer, or the amount thereof that the Secured Creditors are required or elect to repay or restore, and as to all reasonable costs, expenses, and attorneys’ attorneys fees of the Secured Creditors related thereto, the liability of the Borrowers Borrower or the Guarantors such Guarantor automatically shall be revived, reinstated, and restored and shall exist as though such Voidable Transfer had never been made.