Common use of AUTOMATIC REINSTATEMENT Clause in Contracts

AUTOMATIC REINSTATEMENT. This Agreement and Guarantor's obligations and liabilities hereunder shall continue to be effective, and/or shall automatically and retroactively be reinstated, If a release or discharge has occurred, or It at any time, any payment or part thereof to Lender with respect to any of Borrower's Indebtedness, Is rescinded or must otherwise be restored by Lender pursuant to any Insolvency, bankruptcy, reorganization, receivership, or any other debt relief granted to Borrower or to any other party to Borrower's Indebtedness or any such security therefor. In the event that Lender must rescind or restore any payment received In total or partial satisfaction of Borrower's Indebtedness, any prior release or discharge from the terms of this Agreement given to Guarantor shall be without effect, and this Agreement and Guarantor's obligations and liabilities hereunder shall automatically and retroactively be renewed and/or reinstated and shall remain In full force and affect to the same degree and extent as If such a release or discharge had never been granted. It Is the Intention of Lender and Guarantor that Guarantor's obligations and liabilities hereunder shall not be discharged except by Guarantor's full and complete performance and satisfaction of such obligations and liabilities; and then only to the extent of such performance.

AUTOMATIC REINSTATEMENT. This Agreement and Guarantor's obligations and liabilities hereunder shall continue to be effective, and/or shall automatically and retroactively be reinstated, If if a release or discharge has occurred, or It if at any time, any payment or part thereof to Lender with respect to any of Borrower's Indebtednessindebtedness, Is is rescinded or must otherwise be restored by Lender pursuant to any Insolvencyinsolvency, bankruptcy, reorganization, receivership, or any other debt relief granted to Borrower or to any other party to Borrower's Indebtedness indebtedness or any such security therefor. In in the event that Lender must rescind or restore any payment received In in total or partial satisfaction of Borrower's Indebtednessindebtedness, any prior release or discharge from the terms of this Agreement given to Guarantor shall be without effect, and this Agreement and Guarantor's obligations and liabilities hereunder shall automatically and retroactively be renewed and/or reinstated and shall remain In in full force and affect effect to the same degree and extent as If if such a release or discharge had never been granted. It Is it is the Intention intention of Lender and Guarantor that Guarantor's obligations and liabilities hereunder shall not be discharged except by Guarantor's full and complete performance and satisfaction of such obligations and liabilities; and then only to the extent of such performance.

AUTOMATIC REINSTATEMENT. This Agreement and Guarantor's ’s obligations and liabilities hereunder shall continue to be effective, and/or shall automatically and retroactively be reinstated, If if a release or discharge has occurred, or It if at any time, any payment or part thereof to Lender the Lenders (or any Affiliate of any Lender) with respect to any of Borrower's Indebtednessthe Guaranteed Obligations, Is is rescinded or must otherwise be restored by Lender the Lenders (or any Affiliate of any Lender) pursuant to any Insolvencyinsolvency, bankruptcy, reorganization, receivership, or any other debt relief granted to Borrower or to any other party to Borrower's Indebtedness or any such security thereforparty. In the event that Lender the Agent or Lenders (or any Affiliate of any Lender) must rescind or restore any payment received In in total or partial satisfaction of Borrower's Indebtednessthe Guaranteed Obligations, any prior release or discharge from the terms of this Agreement given to Guarantor shall be without effect, and this Agreement and Guarantor's ’s obligations and liabilities hereunder shall automatically and retroactively be renewed and/or reinstated and shall remain In in full force and affect effect to the same degree and extent as If if such a release or discharge had never been granted. It Is is the Intention intention of Lender the Lenders and Guarantor that Guarantor's ’s obligations and liabilities hereunder shall not be discharged except by Guarantor's full and complete performance and satisfaction of such obligations and liabilities; and then only to the extent of such performanceas provided in Section 3.

AUTOMATIC REINSTATEMENT. This Agreement and Guarantor's obligations and liabilities hereunder shall continue to be effective, and/or shall automatically and retroactively be reinstated, If if a release or discharge has occurred, or It if at any time, any payment or part thereof to Lender the Lenders (or any Affiliate of any Lender) with respect to any of Borrower's Indebtednessthe Secured Obligations, Is is rescinded or must otherwise be restored by Lender the Lenders (or any Affiliate of any Lender) pursuant to any Insolvencyinsolvency, bankruptcy, reorganization, receivership, or any other debt relief granted to Borrower or to any other party to Borrower's Indebtedness or any such security thereforparty. In the event that Lender the Agent or Lenders (or any Affiliate of any Lender) must rescind or restore any payment received In in total or partial satisfaction of Borrower's Indebtednessthe Secured Obligations, any prior release or discharge from the terms of this Agreement given to Guarantor shall be without effect, and this Agreement and Guarantor's obligations and liabilities hereunder shall automatically and retroactively be renewed and/or reinstated and shall remain In in full force and affect effect to the same degree and extent as If if such a release or discharge had never been granted. It Is is the Intention intention of Lender the Lenders and Guarantor that Guarantor's obligations and liabilities hereunder shall not be discharged except by Guarantor's full and complete performance and satisfaction of such obligations and liabilities; and then only to the extent of such performanceas provided in Section 4.

AUTOMATIC REINSTATEMENT. This Agreement and Guarantor's obligations and liabilities hereunder shall continue to be effective, and/or shall automatically and retroactively be reinstated, If if a release or discharge has occurred, or It if at any time, any payment or part thereof to Lender Bank with respect to any of Borrower's the Indebtedness, Is is rescinded or must otherwise be restored by Lender Bank pursuant to any Insolvencyinsolvency, bankruptcy, reorganization, receivership, or any other debt relief granted to Borrower or to any other party to Borrower's the Indebtedness or any such security therefor. In the event that Lender Bank must rescind or restore any payment received In in total or partial satisfaction of Borrower's the Indebtedness, any prior release or discharge from the terms of this Agreement given to Guarantor shall be without effect, and this Agreement and Guarantor's obligations and liabilities hereunder shall automatically and retroactively be renewed and/or reinstated and shall remain In in full force and affect effect to the same degree and extent as If if such a release or discharge had never been granted. It Is is the Intention intention of Lender Bank and Guarantor that Guarantor's obligations and liabilities hereunder shall not be discharged except by Guarantor's full and complete performance and satisfaction of such obligations and liabilities; and then only to the extent of such performance.

AUTOMATIC REINSTATEMENT. This Agreement Guaranty and Guarantor's obligations and liabilities hereunder shall continue to be effective, and/or shall automatically and retroactively be reinstated, If if a release or discharge has occurred, or It if at any time, any payment or part thereof to Lender with respect to any of Borrower's Indebtedness, Is is rescinded or must otherwise be restored by Lender pursuant to any Insolvencyinsolvency, bankruptcy, reorganization, receivership, or any other debt relief granted to Borrower or to any other party to Borrower's Indebtedness or any such security therefor. In the event that at Lender must rescind or restore any payment received In in total or partial satisfaction of Borrower's Indebtedness, any prior release or discharge from the terms of this Agreement Guaranty given to Guarantor shall be without effect, and this Agreement Guaranty and Guarantor's obligations and liabilities hereunder shall automatically and retroactively be renewed and/or reinstated and shall remain In in full force and affect effect to the same degree and extent as If it such a release or discharge had never been granted. It Is is the Intention intention of Lender and Guarantor that Guarantor's obligations and liabilities hereunder shall not be discharged except by Guarantor's full and complete performance and satisfaction of such obligations and liabilities; and then only to the extent of such performance.