Common use of Indefeasible Payment Clause in Contracts

Indefeasible Payment. The Secured Obligations shall not be considered indefeasibly paid for purposes of this Agreement unless and until all payments to Foothill are no longer subject to any right on the part of any Person, including Pledgor, Pledgor as a debtor in possession, or any trustee (whether appointed under the Bankruptcy Code or otherwise) of Pledgor or any of Pledgor's Assets, to invalidate or set aside such payments or to seek to recoup the amount of such payments or any portion thereof, or to declare same to be fraudulent or preferential. In the event that, for any reason, any portion of such payments to Foothill is set aside or restored, whether voluntarily or involuntarily, after the making thereof, then the obligation intended to be satisfied thereby shall be revived and continued in full force and effect as if said payment or payments had not been made.

Indefeasible Payment. The Secured Obligations shall not be considered indefeasibly paid for purposes of this Agreement unless and until all payments to Foothill are no longer subject to any right on the part of any Person, including Pledgor, Pledgor as a debtor in possession, or any trustee (whether appointed under the Bankruptcy Code or otherwise) of Pledgor or any of Pledgor's Assets, to invalidate or set aside such payments or to seek to recoup the amount of such payments or any portion thereof, or to declare same to be fraudulent or preferential. In the event that, for any reason, any portion of such payments to Foothill is set aside or restored, whether voluntarily or involuntarily, after the making thereof, then the obligation intended to be satisfied thereby shall be revived and continued in full force and effect as if said payment or payments had not been made. 13.

Indefeasible Payment. The Secured Obligations shall not be considered indefeasibly paid for purposes of this Agreement unless and until all payments to Foothill Agent for the ratable benefit of the Lenders are no longer subject to any right on the part of any Person, including Pledgor, Pledgor as a debtor in possession, or any trustee (whether appointed under the Bankruptcy Code or otherwise) of Pledgor or any of Pledgor's Assets, to invalidate or set aside such payments or to seek to recoup the amount of such payments or any portion thereof, or to declare same to be fraudulent or preferential. In the event that, for any reason, any portion of such payments to Foothill Agent is set aside or restored, whether voluntarily or involuntarily, after the making thereof, then the obligation intended to be satisfied thereby shall be revived and continued in full force and effect as if said payment or payments had not been made.

Indefeasible Payment. The Secured Obligations shall not be considered indefeasibly paid for purposes of this Agreement unless and until all payments to Foothill the Lender are no longer not subject to any right on the part of any Person, including any Pledgor, any Pledgor as a debtor in possession, or any trustee (whether appointed under the Bankruptcy Code or otherwise) of any Pledgor or any of such Pledgor's ’s Assets, to invalidate or set aside such payments or to seek to recoup the amount of such payments or any portion thereof, or to declare same to be fraudulent or preferential. In the event that, for any reason, any portion of such payments to Foothill the Lender is set aside or restored, whether voluntarily or involuntarily, after the making thereof, then the obligation intended to be satisfied thereby shall be revived and continued in full force and effect as if said payment or payments had not been made.

Indefeasible Payment. The Secured Obligations shall not be considered indefeasibly paid for purposes of this Agreement unless and until all payments to Foothill are no longer subject to any right on the part of any Person, including PledgorBorrower, Pledgor Borrower as a debtor in possession, or any trustee (whether appointed under the Bankruptcy Code or otherwise) of Pledgor Borrower or any of PledgorBorrower's Assets, to invalidate or set aside such payments or to seek to recoup the amount of such payments or any portion thereof, or to declare same to be fraudulent or preferential. In the event that, for any reason, any portion of such payments to Foothill is set aside or restored, whether voluntarily or involuntarily, after the making thereof, then the obligation intended to be satisfied thereby shall be revived and continued in full force and effect as if said payment or payments had not been made.

Indefeasible Payment. The Secured Obligations shall not be considered indefeasibly paid for purposes of this Agreement unless and until all payments to Foothill Agent for the ratable benefit of the Lenders are no longer subject to any right on the part of any Person, including Pledgor, Pledgor as a debtor in possession, or any trustee (whether appointed under the Bankruptcy Code or otherwise) of Pledgor or any of Pledgor's ’s Assets, to invalidate or set aside such payments or to seek to recoup the amount of such payments or any portion thereof, or to declare same to be fraudulent or preferential. In the event that, for any reason, any portion of such payments to Foothill Agent is set aside or restored, whether voluntarily or involuntarily, after the making thereof, then the obligation intended to be satisfied thereby shall be revived and continued in full force and effect as if said payment or payments had not been made.