Common use of Revival and Reinstatement of Obligations Clause in Contracts

Revival and Reinstatement of Obligations. If the incurrence or payment of the Obligations by any Obligor or the transfer to the Bank of any property should for any reason subsequently be 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 (collectively, a “Voidable Transfer”), and if the Bank is required to repay or restore, in whole or in part, any such Voidable Transfer, or elects to do so upon the reasonable advice of its counsel, then, as to any such Voidable Transfer, or the amount thereof that the Bank is required or elects to repay or restore, and as to all reasonable costs, expenses, and attorneys fees of the Bank, the Obligations shall automatically shall be revived, reinstated, and restored and shall exist as though such Voidable Transfer had never been made.

Appears in 24 contracts

Samples: Loan and Security Agreement (Intricon Corp), Loan and Security Agreement (Banyan Rail Services Inc.), Loan and Security Agreement (Primoris Services CORP)

AutoNDA by SimpleDocs

Revival and Reinstatement of Obligations. If the incurrence or payment of the Obligations by any Obligor Borrower or the transfer to the Bank Lender of any property should for any reason subsequently be 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 (collectively, a "Voidable Transfer"), and if the Bank Lender is required to repay or restore, in whole or in part, any such Voidable Transfer, or elects to do so upon the reasonable advice of its counsel, then, as to any such Voidable Transfer, or the amount thereof that the Bank Lender is required or elects to repay or restore, and as to all reasonable costs, expenses, and attorneys fees of the BankLender related thereto, the Obligations shall liability of Borrower automatically shall be revived, reinstated, and restored and shall exist as though such Voidable Transfer had never been made.

Appears in 12 contracts

Samples: Loan and Security Agreement (I Link Inc), Credit Agreement (Piccadilly Cafeterias Inc), Loan and Security Agreement (Qad Inc)

Revival and Reinstatement of Obligations. If the incurrence or payment of the Obligations by any Obligor or the transfer to the Bank Lender of any property should for any reason subsequently be 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 (collectively, a “Voidable Transfer”), and if the Bank Lender is required to repay or restore, in whole or in part, any such Voidable Transfer, or elects to do so upon the reasonable advice of its counsel, then, as to any such Voidable Transfer, or the amount thereof that the Bank Lender is required or elects to repay or restore, and as to all reasonable costs, expenses, and attorneys attorneys’ fees of the BankLender, the Obligations shall automatically shall be revived, reinstated, and restored and shall exist as though such Voidable Transfer had never been made.

Appears in 8 contracts

Samples: Loan and Security Agreement (Flux Power Holdings, Inc.), Loan Agreement (Cohen & Co Inc.), Revolving Note and Cash Subordination Agreement (Cohen & Co Inc.)

Revival and Reinstatement of Obligations. If the incurrence or payment of the Obligations by any Obligor Borrower or the transfer to the Bank Lender of any property should for any reason subsequently be 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 (collectively, a "Voidable Transfer"), and if the Bank Lender is required to repay or restore, in whole or in part, any such Voidable Transfer, or elects to do so upon the reasonable advice of its counsel, then, as to any such Voidable Transfer, or the amount thereof that the Bank Lender is required or elects to repay or restore, and as to all reasonable costs, expenses, and attorneys fees of the BankLender related thereto, the Obligations shall liability of Borrowers automatically shall be revived, reinstated, and restored and shall exist as though such Voidable Transfer had never been made.

Appears in 5 contracts

Samples: Loan and Security Agreement (Kroll Inc), Credit Agreement (Easylink Services Corp), Loan and Security Agreement (Elxsi Corp /De//)

Revival and Reinstatement of Obligations. If the incurrence or payment of the Obligations by any Obligor Borrower or the transfer to the Bank Lender of any property should for any reason subsequently be 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 (collectively, a “Voidable Transfer”), and if the Bank Lender is required to repay or restore, in whole or in part, any such Voidable Transfer, or elects to do so upon the reasonable advice of its counsel, then, as to any such Voidable Transfer, or the amount thereof that the Bank Lender is required or elects to repay or restore, and as to all reasonable costs, expenses, and attorneys attorneys’ fees of the BankLender related thereto, the Obligations shall liability of Borrower automatically shall be revived, reinstated, and restored and shall exist as though such Voidable Transfer had never been made.

Appears in 5 contracts

Samples: Receivables Financing Agreement (Todos Medical Ltd.), Receivables Financing Agreement (Todos Medical Ltd.), Loan Agreement (Navidea Biopharmaceuticals, Inc.)

Revival and Reinstatement of Obligations. If the incurrence or payment of the Obligations by any Obligor Borrower or the transfer to the Bank Lender of any property should for any reason subsequently be 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 (collectively, a “Voidable Transfer”), and if the Bank Lender is required to repay or restore, in whole or in part, any such Voidable Transfer, or elects to do so upon the reasonable advice of its counsel, then, as to any such Voidable Transfer, or the amount thereof that the Bank Lender is required or elects to repay or restore, and as to all reasonable costs, expenses, and attorneys fees of the BankLender related thereto, the Obligations shall liability of Borrower automatically shall be revived, reinstated, and restored and shall exist as though such Voidable Transfer had never been made.

Appears in 4 contracts

Samples: Loan Agreement (Firstcity Financial Corp), Loan Agreement (American Greetings Corp), Loan Agreement (Firstcity Financial Corp)

Revival and Reinstatement of Obligations. If the incurrence or payment of the Obligations by any Obligor the Borrower or the transfer to the Bank Lender of any property should for any reason subsequently be 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 (collectively, a “Voidable Transfer”), and if the Bank Lender is required to repay or restore, in whole or in part, any such Voidable Transfer, or elects to do so upon the reasonable advice of its counsel, then, as to any such Voidable Transfer, or the amount thereof that the Bank Lender is required or elects to repay or restore, and as to all reasonable costs, expenses, and attorneys fees of the BankLender, the Obligations shall will automatically shall be revived, reinstated, and restored and shall will exist as though such that Voidable Transfer had never been made.

Appears in 3 contracts

Samples: Loan Agreement (Jacksonville Bancorp Inc /Fl/), Loan Agreement (Jacksonville Bancorp Inc /Fl/), Loan Agreement (Jacksonville Bancorp Inc /Fl/)

Revival and Reinstatement of Obligations. If the incurrence or payment of the Obligations by any Obligor or the transfer to the Bank Lender of any property should for any reason subsequently be 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 (collectively, a “Voidable Transfer”), and if the Bank Lender is required to repay or restore, in whole or in part, any such Voidable Transfer, or elects to do so upon the reasonable advice of its counsel, then, as to any such Voidable Transfer, or the amount thereof that the Bank Lender is required or elects to repay or restore, and as to all reasonable costs, expenses, and attorneys fees of the BankLender, the Obligations shall automatically shall be revived, reinstated, and restored and shall exist as though such Voidable Transfer had never been made.

Appears in 3 contracts

Samples: Loan and Security Agreement (Digital Ally, Inc.), Loan and Security Agreement (Chromcraft Revington Inc), Loan and Security Agreement (Amrep Corp)

Revival and Reinstatement of Obligations. If the incurrence or payment of the Obligations by any Obligor or the transfer to the Bank Lender of any property should for any reason subsequently be 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 (collectively, a “Voidable Transfer”), and if the Bank Lender is required to repay or restore, in whole or in part, any such Voidable Transfer, or elects to do so upon the reasonable advice of its counsel, then, as to any such Voidable Transfer, or the amount thereof that the Bank Lender is required or elects to repay or restore, and as to all reasonable costs, expenses, and attorneys fees of the BankLender, the Obligations shall automatically shall be revived, reinstated, and restored and shall exist as though such Voidable Transfer had never been made.

Appears in 3 contracts

Samples: Loan and Security Agreement (BG Staffing, Inc.), Loan and Security Agreement (LTN Staffing, LLC), Loan and Security Agreement (Ari Network Services Inc /Wi)

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

Appears in 3 contracts

Samples: Term Loan Agreement, Term Loan Agreement (Phibro Animal Health Corp), Term Loan Agreement (Phibro Animal Health Corp)

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

Appears in 3 contracts

Samples: Revolving Credit Loan and Security Agreement (Deer Valley Corp), Revolving Credit Loan and Security Agreement (Deer Valley Corp), Revolving Credit Loan and Security Agreement (Deer Valley Corp)

Revival and Reinstatement of Obligations. If the incurrence or payment of the Obligations by any Obligor or the transfer to the Bank Lender of any property should for any reason subsequently be 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 (collectively, a “Voidable Transfer”), and if the Bank Lender is required to repay or restore, in whole or in part, any such Voidable Transfer, or elects to do so upon the reasonable advice of its counsel, then, as to any such Voidable Transfer, or the amount thereof that the Bank Lender is required or elects to repay or restore, and as to all reasonable costs, expenses, and attorneys fees of the BankLender, the Obligations shall automatically shall be revived, reinstated, and restored and shall exist as though such Voidable Transfer had never been made.

Appears in 3 contracts

Samples: Loan and Security Agreement (Hill International, Inc.), Loan and Security Agreement (Hill International, Inc.), Revolving Credit Agreement (American Land Lease Inc)

Revival and Reinstatement of Obligations. If the incurrence or payment of the Obligations by any Obligor obligor or the transfer to the Bank Lender of any property should for any reason subsequently be declared to be void or voidable under any state state, provincial or federal law 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 (collectively, a “Voidable Transfer”), and if the Bank Lender is required to repay or restore, in whole or in part, any such Voidable Transfer, or elects to do so upon the reasonable advice of its counsel, then, as to any such Voidable Transfer, or the amount thereof that the Bank Lender is required or elects to repay or restore, and as to all reasonable costs, expenses, and attorneys attorneys’ fees of the BankLender, the Obligations shall automatically shall be revived, reinstated, and restored and shall exist as though such Voidable Transfer had never been made.

Appears in 3 contracts

Samples: Credit Agreement (BioPharmX Corp), Credit Agreement (Cancer Genetics, Inc), Credit Agreement

Revival and Reinstatement of Obligations. If the incurrence or payment of the Obligations by any Obligor or the transfer to the Bank of any property should for any reason subsequently be 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 (collectively, a "Voidable Transfer"), and if the Bank is required to repay or restore, in whole or in part, any such Voidable Transfer, or elects to do so upon the reasonable advice of its counsel, then, as to any such Voidable Transfer, or the amount thereof that the Bank is required or elects to repay or restore, and as to all reasonable costs, expenses, and attorneys fees of the Bank, the Obligations shall automatically shall be revived, reinstated, and restored and shall exist as though such Voidable Transfer had never been made.

Appears in 3 contracts

Samples: Loan and Security Agreement (Rockwell Medical Technologies Inc), Loan and Security Agreement (Boyd Bros Transportation Inc), Credit Agreement (Integrity Media Inc)

Revival and Reinstatement of Obligations. If the incurrence or payment of the Obligations by any Obligor or the transfer to the Bank of any property should for any reason subsequently be 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 (collectively, a “Voidable Transfer”), and if the Bank is required to repay or restore, in whole or in part, any such Voidable Transfer, or elects to do so upon the reasonable advice of its counsel, then, as to any such Voidable Transfer, or the amount thereof that the Bank is required or elects to repay or restore, and as to all reasonable costs, expenses, and attorneys attorneys' fees of the Bank, the Obligations shall automatically shall be revived, reinstated, and restored and shall exist as though such Voidable Transfer had never been made.

Appears in 2 contracts

Samples: Loan and Security Agreement (Atlas Financial Holdings, Inc.), Loan and Security Agreement (Atlas Financial Holdings, Inc.)

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

Appears in 2 contracts

Samples: Credit Loan and Security Agreement, Loan and Security Agreement (Odyssey Marine Exploration Inc)

Revival and Reinstatement of Obligations. If the incurrence or payment of the Obligations by any Obligor Loan Party or the transfer to the Bank Lender of any property should for any reason subsequently be 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 (collectively, a “Voidable Transfer”), and if the Bank Lender is required to repay or restore, in whole or in part, any such Voidable Transfer, or elects to do so upon the reasonable advice of its counsel, then, as to any such Voidable Transfer, or the amount thereof that the Bank Lender is required or elects to repay or restore, and as to all reasonable costs, expenses, and attorneys fees of the BankLender, the Obligations shall automatically shall be revived, reinstated, and restored and shall exist as though such Voidable Transfer had never been made.

Appears in 2 contracts

Samples: Loan and Security Agreement, Loan and Security Agreement (Lawson Products Inc/New/De/)

Revival and Reinstatement of Obligations. If the incurrence or payment of the Obligations obligations by any Obligor Borrower or the transfer to the Bank of any property should for any reason subsequently be declared to be void or voidable under any state or federal law relating to creditors’ rights, including provisions of the Bankruptcy Code bankruptcy code relating to fraudulent conveyances, preferences, or other voidable or recoverable payments of money or transfers of property (collectively, a "Voidable Transfer"), and if the Bank is required to repay or restore, in whole or in part, any such Voidable Transfer, or elects to do so upon the reasonable advice of its counsel, then, as to any such Voidable Transfer, or the amount thereof that the Bank is required or elects to repay or restore, and as to all reasonable costs, expenses, and reasonable attorneys fees of the BankBank related thereto, the Obligations shall liability of Borrower automatically shall be revived, reinstated, and restored and shall exist as though such Voidable Transfer had never been made.

Appears in 2 contracts

Samples: Revolving Bridge Loan and Security Agreement (Deer Valley Corp), Revolving Bridge Loan and Security Agreement (Deer Valley Corp)

Revival and Reinstatement of Obligations. If the incurrence or payment of the Obligations by any Obligor or the transfer to the Bank of any property Borrower should for any reason subsequently be declared to be void or voidable under any state or federal law relating to creditors' rights, including provisions of the United States Bankruptcy Code relating to fraudulent conveyances, preferences, or other voidable or recoverable payments of money or transfers of property (collectively, a "Voidable Transfer"), and if the Bank Lender is required to repay or restore, in whole or in part, any such Voidable Transfer, or elects to do so upon the reasonable advice of its counsel, then, as to any such Voidable Transfer, or the amount thereof that the Bank Lender is required or elects to repay or restore, and as to all reasonable costs, expenses, and attorneys fees of the BankLender related thereto, the Obligations shall liability of Borrower automatically shall be revived, reinstated, and restored and shall exist as though such Voidable Transfer had never been made.. Signed as a sealed instrument May 30, 2003. Witnesses: Parties:

Appears in 1 contract

Samples: 51 Loan Agreement (Viisage Technology Inc)

Revival and Reinstatement of Obligations. If the incurrence or payment of the Obligations by any Obligor Borrower or the transfer to the Bank of any property should for any reason subsequently be 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 (collectively, a "Voidable Transfer"), and if the Bank is required to repay or restore, in whole or in part, any such Voidable Transfer, or elects to do so upon the reasonable advice of its counsel, then, as to any such Voidable Transfer, or the amount thereof that the Bank is required or elects to repay or restore, and as to all reasonable costs, expenses, and attorneys fees of the BankBank related thereto, the Obligations shall liability of Borrower automatically shall be revived, reinstated, and restored and shall exist as though such Voidable Transfer had never been made.

Appears in 1 contract

Samples: Loan Agreement (Faro Technologies Inc)

AutoNDA by SimpleDocs

Revival and Reinstatement of Obligations. If the incurrence or payment of the Obligations by any Obligor or the transfer to the Bank of any property should for any reason subsequently be 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 (collectively, a “Voidable Transfer”), and if the Bank is required to repay or restore, in whole or in part, any such Voidable Transfer, or elects to do so upon the reasonable advice of its counsel, then, as to any such Voidable Transfer, or the amount thereof that the Bank is required or elects to repay or restore, and as to all reasonable costs, expenses, and attorneys fees of the Bank, the Obligations shall automatically shall be revived, reinstated, and restored and shall exist as though such Voidable Transfer had never been made.. (Signature Page Follows)

Appears in 1 contract

Samples: Loan and Security Agreement (PLM Equipment Growth Fund V)

Revival and Reinstatement of Obligations. If the incurrence or payment of the Obligations obligations by any Obligor Borrower or the transfer to the Bank of any property should for any reason subsequently be declared to be void or voidable under any state or federal law relating to creditors’ rights, including provisions of the Bankruptcy Code bankruptcy code relating to fraudulent conveyances, preferences, or other voidable or recoverable payments of money or transfers of property (collectively, collectively a "Voidable Transfer"), and if the Bank is required to repay or restore, in whole or in part, any such Voidable Transfer, or elects to do so upon the reasonable advice of its counsel, then, as to any such Voidable Transfer, or the amount thereof that the Bank is required or elects to repay or restore, and as to all reasonable costs, expenses, and reasonable attorneys fees of the BankBank related thereto, the Obligations shall liability of Borrower automatically shall be revived, reinstated, and restored and shall exist as though such Voidable Transfer had never been made.

Appears in 1 contract

Samples: Loan and Security Agreement (Deer Valley Corp)

Revival and Reinstatement of Obligations. If the incurrence or payment of the Obligations by any Obligor Borrower or the transfer to the Bank Lender of any property should for any reason subsequently be 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 (collectively, a “Voidable Transfer”), and if the Bank Lender is required to repay or restore, in whole or in part, any such Voidable Transfer, or elects to do so upon the reasonable advice of its counsel, then, as to any such Voidable Transfer, or the amount thereof that the Bank Lender is required or elects to repay or restore, and as to all reasonable costs, expenses, and attorneys fees of the BankLender, the Obligations shall automatically shall be revived, reinstated, and restored and shall exist as though such Voidable Transfer had never been made.

Appears in 1 contract

Samples: Loan and Security Agreement (WESTMORELAND COAL Co)

Revival and Reinstatement of Obligations. If the incurrence or payment of the Obligations by any Obligor or the transfer to the Bank Lenders of any property should for any reason subsequently be 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 (collectively, a “Voidable Transfer”), and if the Bank Lenders is required to repay or restore, in whole or in part, any such Voidable Transfer, or elects to do so upon the reasonable advice of its counsel, then, as to any such Voidable Transfer, or the amount thereof that the Bank Lenders is required or elects to repay or restore, and as to all reasonable costs, expenses, and attorneys attorney’s fees of the BankLenders, the Obligations shall automatically shall be revived, reinstated, and restored and shall exist as though such Voidable Transfer had never been made.

Appears in 1 contract

Samples: Amended and Restated Loan Agreement (Hemiwedge Industries, Inc)

Revival and Reinstatement of Obligations. If the incurrence or payment of the Obligations by any Obligor Borrower or the transfer to the Bank of any property should for any reason subsequently be 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 (collectively, a “Voidable Transfer”), and if the Bank is required to repay or restore, in whole or in part, any such Voidable Transfer, or elects to do so upon the reasonable advice of its counsel, then, as to any such Voidable Transfer, or the amount thereof that the Bank is required or elects to repay or restore, and as to all reasonable costs, expenses, and attorneys fees of the BankBank related thereto, the Obligations shall liability of Borrower automatically shall be revived, reinstated, and restored and shall exist as though such Voidable Transfer had never been made.

Appears in 1 contract

Samples: Loan Agreement (Faro Technologies Inc)

Revival and Reinstatement of Obligations. If the incurrence or payment of the Obligations by any Obligor or the transfer to the Bank Lenders of any property should for any reason subsequently be 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 (collectively, a “Voidable Transfer”), and if the Bank a Lender is required to repay or restore, in whole or in part, any such Voidable Transfer, or elects to do so upon the reasonable advice of its counsel, then, as to any such Voidable Transfer, or the amount thereof that the Bank such Lender is required or elects to repay or restore, and as to all reasonable costs, expenses, and attorneys fees of the Banksuch Lender, the Obligations shall automatically shall be revived, reinstated, and restored and shall exist as though such Voidable Transfer had never been made.

Appears in 1 contract

Samples: Senior Subordinated Loan and Security Agreement (Regional Management Corp.)

Revival and Reinstatement of Obligations. If the incurrence or payment of the Obligations by any Obligor or the transfer to the Bank of any property should for any reason subsequently be declared to be void or voidable under any state or federal law 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 (collectively, a “Voidable Transfer”), and if the Bank is required to repay or restore, in whole or in part, any such Voidable Transfer, or elects to do so upon the reasonable advice of its counsel, then, as to any such Voidable Transfer, or the amount thereof that the Bank is required or elects to repay or restore, and as to all reasonable costs, expenses, and attorneys fees of the Bank, the Obligations shall automatically shall be revived, reinstated, and restored and shall exist as though such Voidable Transfer had never been made.

Appears in 1 contract

Samples: Loan and Security Agreement (Ebix Inc)

Revival and Reinstatement of Obligations. If the incurrence or payment of the Obligations by any Obligor or the transfer to the Bank of any property should for any reason subsequently be 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 (collectively, a “Voidable Transfer”), and if the Bank is required to repay or restore, in whole or in part, any such Voidable Transfer, or elects to do so upon the reasonable advice of its counsel, then, as to any such Voidable Transfer, or the amount thereof that the Bank is required or elects to repay or restore, and as to all reasonable costs, expenses, and attorneys fees of the Bank, the Obligations shall automatically shall be revived, reinstated, and restored and shall exist as though such Voidable Transfer had never been made.. M1:1204748.06 [Signature Page Follows]

Appears in 1 contract

Samples: Loan and Security Agreement (PLM Equipment Growth Fund V)

Revival and Reinstatement of Obligations. If the incurrence or payment of the Obligations by any Obligor or the transfer to the Bank of any property should for any reason subsequently be 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 (collectively, a “Voidable Transfer”), and if the Bank is required to repay or restore, in whole or in part, any such Voidable Transfer, or elects to do so upon the reasonable advice of its counsel, then, as to any such Voidable Transfer, or the amount thereof that the Bank is required or elects to repay or restore, and as to all reasonable costs, expenses, and attorneys attorneys’ fees of the Bank, the Obligations shall automatically shall be revived, reinstated, and restored and shall exist as though such Voidable Transfer had never been made.

Appears in 1 contract

Samples: Loan and Security Agreement (Synergetics Usa Inc)

Revival and Reinstatement of Obligations. If the incurrence or payment of the Obligations by any Obligor or the transfer to the Bank Lender of any property should for any reason subsequently be 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 (collectively, a “Voidable Transfer”), and if the Bank Lender is required to repay or restore, in whole or in part, any such Voidable Transfer, or elects to do so upon the reasonable advice of its counsel, then, as to any such Voidable Transfer, or the amount thereof that the Bank Lender is required or elects to repay or restore, and as to all reasonable costs, expenses, and attorneys attorneys’ fees of the BankLender, the Obligations shall automatically shall be revived, reinstated, and restored and shall exist as though such Voidable Transfer had never been made.

Appears in 1 contract

Samples: Loan and Security Agreement

Revival and Reinstatement of Obligations. If the incurrence or payment of the Obligations by any Obligor Borrower or the transfer by Borrower to the Bank Lender of any property of Borrower should for any reason subsequently be 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 preferences and other voidable or recoverable payments of money or transfers of property (collectively, a Voidable Transfer), and if the Bank Lender is required to repay or restore, in whole or in part, any such Voidable Transfer, or elects to do so upon the reasonable advice of its counsel, then, as to any such Voidable Transfer, or the amount thereof that the Bank Lender is required or elects to repay or restore, and as to all reasonable costs, expenses, expenses and attorneys fees of the BankLender related thereto, the Obligations shall liability of Borrower automatically shall be revived, reinstated, reinstated and restored and shall exist as though such Voidable Transfer had never been made.

Appears in 1 contract

Samples: Loan and Security Agreement (Ct Holdings Inc)

Revival and Reinstatement of Obligations. If the incurrence or payment of the Obligations by any Obligor or the transfer to the Bank of any property should for any reason subsequently be 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 (collectively, a "Voidable Transfer"), and if the Bank is required to repay or restore, in whole or in part, any such Voidable Transfer, or elects to do so upon the reasonable advice of its counsel, then, as to any such Voidable Transfer, or the amount thereof that the Bank is required or elects to repay or restore, and as to all reasonable costs, expenses, and attorneys attorneys' fees of the Bank, the Obligations shall automatically shall be revived, reinstated, and restored and shall exist as though such Voidable Transfer had never been made.

Appears in 1 contract

Samples: Loan and Security Agreement (Birner Dental Management Services Inc)

Time is Money Join Law Insider Premium to draft better contracts faster.