Common use of Avoidance Clause in Contracts

Avoidance. If a payment made by you to us is void, voidable, unenforceable or defective for any reason or we choose to direct that payment to another party who is entitled to the money that is subject to the payment (each an “Avoidance”), then even though we knew, could, or should have known of the Avoidance: (a) your liability under these terms will be what it would have been, and will continue, as if the payment which was subject to the Avoidance had not occurred; and (b) you will execute and do anything necessary or required by us to restore us to the position immediately before the Avoidance. This clause survives termination of this Agreement.

Appears in 3 contracts

Sources: Tyro Business Loans, Tyro Business Loans – Sme Guarantee Scheme, Tyro Business Loans