Common use of Termination of Undertaking Clause in Contracts

Termination of Undertaking. The Performance Guarantor’s obligations hereunder shall continue in full force and effect until all Obligations are finally paid and satisfied in full and the Loan Agreement is terminated, provided that this Undertaking shall continue to be effective or shall be reinstated, as the case may be, if at any time payment or other satisfaction of any of the Guaranteed Obligations is rescinded or must otherwise be restored or returned upon the occurrence of any Event of Bankruptcy with respect to any Originator or otherwise, as though such payment had not been made or other satisfaction occurred, whether or not Beneficiary (or its assigns) is in possession of this Undertaking. No invalidity, irregularity or unenforceability by reason of the Bankruptcy Code or any other federal or state insolvency or other similar law, or any law or order of any Governmental Authority thereof purporting to reduce, amend or otherwise affect the Guaranteed Obligations shall impair, affect, be a defense to or claim against the obligations of the Performance Guarantor under this Undertaking.

Termination of Undertaking. The Performance GuarantorProvider’s obligations hereunder shall continue in full force and effect until all Obligations are finally paid and satisfied in full and the Loan Purchase Agreement is terminated, provided provided, that this Undertaking shall continue to be effective or shall be reinstated, as the case may be, if at any time payment or other satisfaction of any of the Guaranteed Obligations is rescinded or must otherwise be restored or returned upon the occurrence bankruptcy, insolvency, or reorganization of any Event of Bankruptcy with respect to any Originator Covered Entity or otherwise, as though such payment had not been made or other satisfaction occurred, whether or not Beneficiary Recipient (or its assigns) is in possession of this Undertaking. No invalidity, irregularity or unenforceability by reason of the Bankruptcy Code federal bankruptcy code or any other federal or state insolvency or other similar law, or any law or order of any Governmental Authority government or agency thereof purporting to reduce, amend or otherwise affect the Guaranteed Obligations shall impair, affect, be a defense to or claim against the obligations of the Performance Guarantor Provider under this Undertaking.

Termination of Undertaking. The Performance GuarantorProvider’s obligations hereunder shall continue in full force and effect until all Obligations are finally paid and satisfied in full and the Loan Purchase Agreement is terminated, provided provided, that this Undertaking shall continue to be effective or shall be reinstated, as the case may be, if at any time payment or other satisfaction of any of the Guaranteed Obligations is rescinded or must otherwise be restored or returned upon the occurrence bankruptcy, insolvency, or reorganization of any Event of Bankruptcy with respect to any Originator or otherwise, as though such payment had not been made or other satisfaction occurred, whether or not Beneficiary Recipient (or its assigns) is in possession of this Undertaking. No invalidity, irregularity or unenforceability by reason of the Bankruptcy Code federal bankruptcy code or any other federal or state insolvency or other similar law, or any law or order of any Governmental Authority government or agency thereof purporting to reduce, amend or otherwise affect the Guaranteed Obligations shall impair, affect, be a defense to or claim against the obligations of the Performance Guarantor Provider under this Undertaking.