Common use of Termination of Undertaking Clause in Contracts

Termination of Undertaking. Performance Guarantor’s obligations hereunder shall continue in full force and effect until the later of (i) all Obligations are finally paid and satisfied in full and the Collection Agent Agreement is terminated, or (ii) all obligations under the Credit Agreement and the Insurance Agreement have been paid in full and the Insurer shall have no further obligations under the Policy; provided, that in either instance 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or shall be reinstated, as the case may be, if at any time payment or other satisfaction of any of the Obligations is rescinded or must otherwise be restored or returned upon the bankruptcy, insolvency, or reorganization of any Seller or Collection Agent or otherwise, as though such payment had not been made or other satisfaction occurred, whether or not Recipient (or its assigns) is in possession of this Undertaking. No invalidity, irregularity or unenforceability by reason of the federal bankruptcy code or any insolvency or other similar law, or any law or order of any government or agency thereof purporting to reduce, amend or otherwise affect the Obligations shall impair, affect, be a defense to or claim against the obligations of Performance Guarantor under this Undertaking.

Termination of Undertaking. The Performance Guarantor’s obligations hereunder shall continue in full force and effect until the later of (i) all Obligations are finally paid and satisfied in full and each of the Collection Agent Receivables Sale Agreement and the Receivables Purchase Agreement is terminated, or provided that (iii) all obligations under the Credit Agreement and the Insurance Agreement have been paid in full and the Insurer shall have no further obligations under the Policy; provided, that in either instance 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or shall be reinstated, as the case may be, if at any time payment or other satisfaction of any of the Obligations is rescinded or must otherwise be restored or returned upon the bankruptcy, insolvency, or reorganization of any Seller Originator or Collection Agent the Seller, or otherwise, as though such payment had not been made or other satisfaction occurred, whether or not Recipient (the Agent or its assigns) any Purchaser is in possession of this Undertaking and (ii) the provisions of Section 18 shall survive any termination of this Undertaking. No invalidity, irregularity or unenforceability by reason of the federal bankruptcy code Bankruptcy Code or any insolvency or other similar law, or any law or order of any government or agency thereof purporting to reduce, amend or otherwise affect the Obligations shall impair, affect, or be a defense to or claim against the obligations of the Performance Guarantor under this Undertaking.

Termination of Undertaking. Each Performance Guarantor’s 's obligations hereunder shall continue in full force and effect until the later of (i) all Obligations are finally paid and satisfied in full and each of the Collection Agent Receivables Purchase Agreement, the Transfer and Servicing Agreement and the Note Purchase Agreement is terminated, or provided that (iii) all obligations under the Credit Agreement and the Insurance Agreement have been paid in full and the Insurer shall have no further obligations under the Policy; provided, that in either instance 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 Obligations is rescinded or must otherwise be restored or returned upon the bankruptcy, insolvency, or reorganization of any Seller or Collection Agent Bon-Ton DSI, or otherwise, as though such payment had not been made or other satisfaction occurred, whether or not Recipient (the Issuer or its assigns) the Trustee is in possession of this Undertaking and (ii) the provisions of Section 19 shall survive any termination of this Undertaking. No invalidity, irregularity or unenforceability by reason of the federal bankruptcy code Bankruptcy Code or any insolvency or other similar law, or any law or order of any government or agency thereof purporting to reduce, amend or otherwise affect the Obligations shall impair, affect, or be a defense to or claim against the obligations of either Performance Guarantor under this Undertaking.

Termination of Undertaking. Performance Guarantor’s obligations hereunder shall continue in full force and effect until the later of (i) all Obligations are finally paid and satisfied in full and the Collection Agent Agreement is terminated, or (ii) all obligations under the Credit Agreement and the Insurance Agreement have been paid in full and the Insurer shall have no further obligations under the Policyfull; provided, that in either instance 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 Obligations is rescinded or must otherwise be restored or returned upon the bankruptcy, insolvency, or reorganization of any Seller or Collection Agent or otherwise, as though such payment had not been made or other satisfaction occurred, whether or not Recipient (or its assigns) is in possession of this Undertaking. No invalidity, irregularity or unenforceability by reason of the federal bankruptcy code or any insolvency or other similar law, or any law or order of any government or agency thereof purporting to reduce, amend or otherwise affect the Obligations shall impair, affect, be a defense to or claim against the obligations of Performance Guarantor under this Undertaking.