Avoided Payments. Where any release or discharge or other arrangement in respect of all or part of the Secured Obligations (or in respect of any security for those Secured Obligations including the security created under this Mortgage) is made in reliance on any payment, security or other disposition which is avoided or must be restored in an insolvency, liquidation or otherwise and whether or not the Administrative Agent has conceded or compromised any claim that any payment, security or other disposition will or should be avoided, the obligations of the Chargor for the payment of the Secured Obligation and the obligations of the Chargor under this Mortgage shall continue as if such release, discharge or other arrangement had not been made.
Avoided Payments. If, at any time, any payment (in whole or in part) made with respect to any Senior Obligations is rescinded or must be restored or returned by a Holder or the Trustee on behalf of the Holders, the provisions of this paragraph shall continue to be effective or shall be reinstated, as the case may be, as though such payment had not been made.
Avoided Payments. In the event that
Avoided Payments. Without limiting any other provision of this Agreement, Senior Indebtedness shall not be deemed to have been paid for purposes of this Agreement if any payment in respect thereof (i) shall have been avoided or recovered by the payor or its trustee or other representative or successor in accordance with the order of any court of competent jurisdiction in any insolvency, bankruptcy, dissolution, liquidation or reorganization of the payor, or as required upon or as a result of the appointment of a custodian, receiver, trustee or other officer with respect to the payor or any substantial part of its property or otherwise, or (ii) is the subject of a pending or threatened proceeding in which such avoidance or recovery is (or would be) sought. For purposes of this Section 13, a payment in respect of Senior Indebtedness shall be deemed to be the subject of a "threatened proceeding" only if the payor or a trustee for or other authorized representative of the payor or its estate has expressly informed the Senior Noteholders that such payment will be sought to be avoided or recovered in whole or in part.
Avoided Payments. Where any release or discharge or other arrangement in respect of all or part of the Secured Obligations (or in respect of any security for those Secured Obligations including the security created under this Mortgage) is made in reliance on any payment, security or other disposition which is avoided or must be restored in an insolvency, liquidation or otherwise and whether or not the Mortgagee has conceded or compromised any claim that any payment, security or other disposition will or should be avoided, the obligations of the Mortgagor to perform the Secured Obligation and the obligations of the Mortgagor under this Mortgage shall continue as if such release, discharge or other arrangement had not been made.
Avoided Payments. If any amount paid to any Secured Party under the Credit Agreement is avoided or otherwise set aside on the liquidation or administration of the person by whom such amount was paid, then for the purposes of this Deed, such amount shall be regarded as not having been paid. No interest shall accrue on any such amount unless such amount is so avoided or set aside.
Avoided Payments. If at any time any payment or payments of any of the Obligations to Senior Creditor are invalidated, declared to be fraudulent or preferential, set aside, rescinded and/or required to be repaid by Senior Creditor to a trustee, receiver or any other party under any bankruptcy act or code, state or federal law, common law or equitable doctrine, then to the extent of any sum not finally retained by Senior Creditor, Subordinated Creditor's obligations to Senior Creditor under this Agreement shall be reinstated and this Agreement shall remain in full force and effect (or be reinstated) until full and final payment shall have been made to Senior Creditor. Subordinated Creditor shall hold in trust for Senior Creditor and promptly remit to Senior Creditor any payments received by Subordinated Creditor from the Company after such invalidated, rescinded, avoided or returned payments, above described, were originally made.
Avoided Payments. If at any time any Creditor is determined to have received a payment which later becomes an
Avoided Payments. To the extent any payment with respect to any Obligation (whether by or on behalf of a Company, as proceeds of Collateral, enforcement of any right of setoff or otherwise) is declared to be fraudulent or preferential, set aside or required to be paid to a trustee, receiver or similar Person, then such payment or part thereof, originally intended to be satisfied, shall be deemed to be reinstated and outstanding as if such payment had not occurred. If any Payment received by the Agent or a Lender and distributed to a Participant is deemed to be reinstated and outstanding pursuant to the foregoing sentence, such Participant shall, upon demand by the Agent or such Lender, immediately pay to the Agent or such Lender all such Payments so reinstated and outstanding. The covenants contained in this SECTION 11 survive the termination of this Agreement.
Avoided Payments. In the event that the Lenders are required to repay or disgorge to any Loan Party, or any representatives of any Loan Party’s estate, and have repaid, all or any portion of the Pre-Petition Obligations authorized to be repaid pursuant to any CCAA Order or Recognition Order, as the case may be, or any payment on account of the Pre-Petition Obligations made to any Lender is rescinded for any reason whatsoever, including, but not limited to, as a result of any Avoidance Action, or any other action, suit, proceeding or claim brought under any other provision of any Insolvency Statute applicable in the Proceedings or any applicable state or provincial law, or any other similar provisions under any other state, provincial or federal statutory or common law (all such amounts being hereafter referred to as the “Avoided Payments”), then, in such event, Borrowers shall prepay the outstanding principal amount of the Obligations (but not including any Pre-Petition Obligations) in an amount equal to 100% of such Avoided Payments immediately upon receipt of the Avoided Payments by any Loan Party or any representative of any such Loan Party’s estate.
