Examples of Avoided Payment in a sentence
In the event of an Avoided Payment, the BNY Mellon Parties shall have no liability to any Person whatsoever for any Avoided Payment or any liability or losses relating thereto.
If, after the Approval Date, all or any portion of the Settlement Payment is voided or rescinded for any reason, including as a preferential or fraudulent transfer (an “Avoided Payment”), that Avoided Payment shall be treated for purposes of this Paragraph 3 as though it were not made at all (provided that written notice has been given by the Trustee to Bank of America and Countrywide and Bank of America or Countrywide has not cured, made, or restored such payment within sixty (60) days).
For the avoidance of doubt, no Deficiency Amount described in clauses (i)-(vi) above or payment to be made in respect of an Avoided Payment described below shall constitute an accelerated or acceleration payment.
The Insurer will pay each Defaulted Amount which consists of an Avoided Payment as provided in Section 3.
Notwithstanding the foregoing paragraph, in no event shall the Insurer be obligated to make any payment in respect of an Avoided Payment prior to the date such Avoided Payment is Due for Payment.