Common use of Revival Clause Clause in Contracts

Revival Clause. If the incurring of any debt by Borrower or the payment of any money or transfer of property to Lender by or on behalf of Borrower or Guarantor should for any reason subsequently be determined to be “voidable” or “avoidable” in whole or in part within the meaning of any state or federal law (collectively “voidable transfers”), including, without limitation, fraudulent conveyances or preferential transfers under the United States Bankruptcy Code or any other federal or state law, and Lender is required to repay or restore any voidable transfers or the amount or any portion thereof, or upon the advice of Lender’s counsel is advised to do so, then, as to any such amount or property repaid or restored, including, without limitation, all reasonable costs, expenses, and attorneys’ fees of Lender related thereto, the liability of Borrower and Guarantor, and each of them, shall automatically be revived, reinstated and restored and shall exist as though the voidable transfers had never been made.

Appears in 2 contracts

Samples: Loan and Security Agreement (Pro Dex Inc), Loan and Security Agreement (Point.360)

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Revival Clause. If the incurring of any debt by Borrower or the payment of any money or transfer of property to Lender by or on behalf of Borrower Borrower, Guarantor, or Guarantor any other party should for any reason subsequently be determined to be “voidable” or “avoidable” in whole or in part within the meaning of any state or federal law (collectively “voidable transfers”), including, without limitation, fraudulent conveyances or preferential transfers under the United States Bankruptcy Code or any other federal or state law, and Lender is required to repay or restore any voidable transfers or the amount or any portion thereof, or upon the advice of Lender’s counsel is advised to do so, then, as to any such amount or property repaid or restored, including, without limitation, including all reasonable costs, expenses, and attorneys’ attorneys fees of Lender related thereto, the liability of Borrower and Guarantor, and each of them, Guarantor shall automatically be revived, reinstated and restored and shall exist as though the voidable transfers had never been made.

Appears in 2 contracts

Samples: Guarantee (inContact, Inc.), Guarantee (inContact, Inc.)

Revival Clause. If the incurring of any debt by Borrower or the payment of any money or transfer of property to Lender by or on behalf of Borrower or Guarantor should for any reason subsequently be determined to be “voidable” or “avoidable” in whole or in part within the meaning of any state or federal law (collectively “voidable transfers”), including, without limitation, fraudulent conveyances or preferential transfers under the United States Bankruptcy Code or any other federal or state law, and Lender is required to repay or restore any voidable transfers or the amount or any portion thereof, or upon the advice of Lender’s counsel is advised to do so, then, as to any such amount or property repaid or restored, including, without limitation, including all reasonable costs, expenses, and attorneys’ attorneys fees of Lender related thereto, the liability of Borrower and Guarantor, and each of them, shall automatically be revived, reinstated and restored and shall exist as though the voidable transfers had never been made.

Appears in 1 contract

Samples: Loan Agreement (inContact, Inc.)

Revival Clause. If the incurring of any debt by Borrower or the payment of any money or transfer of property to Lender by or on behalf of Borrower or Guarantor should for any reason subsequently be determined to be "voidable" or "avoidable" in whole or in part within the meaning of any state or federal law (collectively "voidable transfers"), including, without limitation, fraudulent conveyances or preferential transfers under the United States Bankruptcy Code or any other federal or state law, and Lender is required to repay or restore any voidable transfers or the amount or any portion thereof, or upon the advice of Lender’s 's counsel is advised to do so, then, as to any such amount or property repaid or restored, including, without limitation, including all reasonable costs, expenses, and attorneys’ attorneys fees of Lender related thereto, the liability of Borrower and Guarantor, and each of them, shall automatically be revived, reinstated and restored and shall exist as though the voidable transfers had never been made.

Appears in 1 contract

Samples: Loan Agreement (Security National Financial Corp)

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Revival Clause. If the incurring of any debt by Borrower or the payment of any money or transfer of property to Lender by or on behalf of Borrower or any Guarantor should for any reason subsequently be determined to be “voidable” or “avoidable” in whole or in part within the meaning of any state or federal law (collectively “voidable transfers”), including, without limitation, including fraudulent conveyances or preferential transfers under the United States Bankruptcy Code or any other federal or state law, and Lender is required to repay or restore any such voidable transfers or the amount or any portion thereof, or upon the advice of Lender’s legal counsel is advised to do so, then, as to any such amount or property repaid or restored, including, without limitation, including all reasonable costs, expenses, and attorneys’ fees of Lender related thereto, the liability of each of Borrower and Guarantor, and each of them, Guarantor shall automatically be revived, reinstated and restored and shall exist as though the voidable transfers had never been made. The obligations under this Section 9.14 shall survive the termination of this Agreement.

Appears in 1 contract

Samples: Loan and Security Agreement (InterMetro Communications, Inc.)

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