Common use of Revival and Reinstatement Clause in Contracts

Revival and Reinstatement. If Beneficiary is required to pay, return or restore to any Borrower or any other person any amounts previously paid on any of the Third Party Secured Obligations because of any Insolvency Proceeding of any Borrower, any stop notice or any other reason, the obligations of Grantor shall be reinstated and revived and the rights of Beneficiary shall continue with regard to such amounts, all as though they had never been paid, and this Deed of Trust shall continue to be effective or be reinstated, as the case may be.

Revival and Reinstatement. If Beneficiary is required to pay, ------------------------- return or restore to any Borrower or any other person any amounts previously paid on any of the Third Party Secured Obligations Indebtedness because of any Insolvency Proceeding of any Borrower, any stop notice or any other reason, the obligations of Grantor Trustor shall be reinstated and revived and the rights of Beneficiary shall continue with regard to such amounts, all as though they had never been paid, and this Deed of Trust shall continue to be effective or be reinstated, as the case may be.