Common use of Revival and Reinstatement Clause in Contracts

Revival and Reinstatement. If the incurrence or payment of the Obligations or the obligations of the Guarantor under this Guarantee by the Guarantor or the transfer by the Guarantor to the Beneficiary of any property of the Guarantor should for any reason subsequently be declared to be void or voidable under any state, federal, provincial or territorial law relating to creditors’ rights, including provisions of any bankruptcy, insolvency or other similar law or similar Canadian insolvency 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 Beneficiary 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 Beneficiary is required or elects to repay or restore, and as to all reasonable costs, expenses, and attorneys fees of the Beneficiary related thereto, the liability of the automatically shall be revived, reinstated, and restored and shall exist as though such Voidable Transfer had never been made.

Revival and Reinstatement. If the incurrence or payment of the Guarantied Obligations or the obligations of the Guarantor under this Guarantee Guaranty by the Guarantor or the transfer by the Guarantor to the Beneficiary Agent of any property of the Guarantor should for any reason subsequently be declared to be void or voidable under any state, federalany, provincial or territorial federal (domestic or foreign) law relating to creditors’ rights, including provisions of any bankruptcy, insolvency or other similar law or similar Canadian insolvency law 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 Beneficiary is Secured Parties are 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 Beneficiary is Secured Parties are required or elects to repay or restore, and as to all reasonable costs, expenses, and attorneys attorneys’ fees of the Beneficiary Secured Parties related thereto, the liability of the Guarantor automatically shall be revived, reinstated, and restored and shall exist as though such Voidable Transfer had never been made.

Revival and Reinstatement. If the incurrence or payment of the Guarantied Obligations or the obligations of the any Guarantor under this Guarantee Guaranty by the any Guarantor or the transfer by the any Guarantor to the Beneficiary Agent of any property of the any such Guarantor should for any reason subsequently be declared to be void or voidable under any state, federal, provincial state or territorial federal law relating to creditors’ rights, including provisions of any bankruptcy, insolvency or other similar law or similar Canadian insolvency law the Bankruptcy Code relating to fraudulent conveyances, preferences, or other voidable or recoverable payments of money or transfers of property or under any federal law of Canada or the law of any province thereof relating to fraudulent conveyances or transfers or fraudulent preferences (collectively, a “Voidable Transfer”), and if the Beneficiary Lender Group 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 Beneficiary Lender Group is required or elects to repay or restore, and as to all reasonable costs, expenses, and attorneys fees of the Beneficiary Lender Group related thereto, the liability of the such Guarantor automatically shall be revived, reinstated, and restored and shall exist as though such Voidable Transfer had never been made.