Common use of Continuation and Reinstatement, etc Clause in Contracts

Continuation and Reinstatement, etc. Each Guarantor further agrees that its guaranty hereunder shall continue to be effective or be reinstated, as the case may be, if at any time payment, or any part thereof, of any Obligation is rescinded or must otherwise be restored by the Administrative Agent, the Canadian Agent, the Issuing Bank or the Lenders upon the bankruptcy or reorganization of a Borrower or a Guarantor, or otherwise. In furtherance of the provisions of this Article 9, and not in limitation of any other right which the Administrative Agent, the Canadian Agent, the Issuing Bank or the Lenders may have at law or in equity against a Borrower, a Guarantor or any other Person by virtue hereof, upon failure of the Borrowers to pay any Obligation when and as the same shall become due, whether at maturity, by acceleration, after notice or otherwise, each Guarantor hereby promises to and will, upon receipt of written demand by the Administrative Agent on behalf of itself, the Canadian Agent, the Issuing Bank and/or the Lenders, forthwith pay or cause to be paid to the Administrative Agent for the benefit of itself, the Canadian Agent, the Issuing Bank and/or the Lenders (as applicable) in cash an amount equal to the unpaid amount of all the Obligations with interest thereon at a rate of interest equal to the rate specified in Section 2.9(a) hereof, and thereupon the Administrative Agent shall assign such Obligation, together with all security interests, if any, then held by the Administrative Agent in respect of such Obligation, to the Guarantors making such payment; such assignment to be subordinate and junior to the rights of the Administrative Agent on behalf of itself, the Canadian Agent, the Issuing Bank and the Lenders with regard to amounts payable by the Borrowers in connection with the remaining unpaid Obligations and to be pro tanto to the extent to which the Obligation in question was discharged by the Guarantor or Guarantors making such payments.

Continuation and Reinstatement, etc. (a) Each Guarantor further agrees that its guaranty Guaranty hereunder shall continue to be effective or be reinstated, as the case may be, if at any time payment, or any part thereof, of any Obligation is rescinded or must otherwise be restored by the Administrative Agent, the Canadian Agent, the Issuing Bank or the Lenders any Secured Party upon the bankruptcy or reorganization of a Borrower or a Guarantor, or otherwise. In furtherance of the provisions of this Article 9, and not in limitation of any other right which the Administrative Agent, the Canadian Agent, the Issuing Bank or the Lenders any Secured Party may have at law or in equity against a the Borrower, a Guarantor or any other Person by virtue hereof, upon failure of the Borrowers Borrower to pay any Obligation when and as the same shall become due, whether at maturity, by acceleration, after notice or otherwise, each Guarantor hereby promises to and will, upon receipt of written demand by the Administrative Agent on behalf of itself, the Canadian Agent, the Issuing Bank and/or the Lendersany Secured Party, forthwith pay or cause to be paid to the Administrative Agent for the benefit of itself, the Canadian Agent, the Issuing Bank and/or the Lenders Secured Parties (as applicable) in cash and in immediately available funds an amount equal to the unpaid amount of all the Obligations with interest thereon at a rate of interest equal to the applicable rate specified in Section 2.9(a) 2.8 hereof, and thereupon the Administrative Agent shall assign such Obligation, together with all security interests, if any, then held by the Administrative Agent in respect of such Obligation, to the Guarantor or Guarantors making such payment; such assignment to be subordinate and junior to the rights of the Administrative Agent on behalf of itself, the Canadian Agent, the Issuing Bank and the Lenders Secured Parties with regard to amounts payable by the Borrowers Borrower in connection with the remaining unpaid Obligations (including interest accruing on and after the filing of any petition in bankruptcy or of reorganization of an obligor whether or not post filing interest is allowed in such proceeding) and to be pro tanto to the extent to which the Obligation in question was discharged by the Guarantor or Guarantors making such payments.

Continuation and Reinstatement, etc. (a) Each Guarantor further agrees that its guaranty Guaranty hereunder shall continue to be effective or be reinstated, as the case may be, if at any time payment, or any part thereof, of any Obligation is rescinded or must otherwise be restored by the Administrative Agent, the Canadian Agentany Lender, the Issuing Bank or the Lenders any other Secured Party upon the bankruptcy or reorganization of a Borrower or a Guarantor, or otherwise. In furtherance of the provisions of this Article 9, and not in limitation of any other right which the Administrative Agent, the Canadian Agentany Lender, the Issuing Bank or the Lenders any other Secured Party may have at law or in equity against a the Borrower, a Guarantor or any other Person by virtue hereof, upon failure of the Borrowers Borrower to pay any Obligation when and as the same shall become due, whether at maturity, by acceleration, after notice or otherwise, each Guarantor hereby promises to and will, upon receipt of written demand by the Administrative Agent on behalf of itself, the Canadian Agent, the Issuing Bank and/or the Lendersany Lender or any other Secured Party, forthwith pay or cause to be paid to the Administrative Agent for the benefit of itself, the Canadian Agent, the Issuing Bank and/or the Lenders Secured Parties (as applicable) in cash an amount equal to the unpaid amount of all the Obligations such Obligation with interest thereon at a rate of interest equal to the rate specified in Section 2.9(a2.8(a) hereof, and thereupon the Administrative Agent shall assign such Obligation, together with all security interests, if any, then held by the Administrative Agent in respect of such Obligation, to the Guarantors making such payment; such assignment to be subordinate and junior to the rights of the Administrative Agent on behalf of itself, the Canadian Agent, the Issuing Bank and the Lenders Secured Parties with regard to amounts payable by the Borrowers Borrower in connection with the remaining unpaid Obligations (including interest accruing on and after the filing of any petition in bankruptcy or of reorganization of an obligor whether or not post filing interest is allowed in such proceeding) and to be pro tanto to the extent to which the Obligation in question was discharged by the Guarantor or Guarantors making such payments.

Continuation and Reinstatement, etc. (a) Each Guarantor further agrees that its guaranty Guarantee hereunder shall continue to be effective or be reinstated, as the case may be, if at any time payment, or any part thereof, of any Obligation is rescinded or must otherwise be restored by the Administrative Agent, the Canadian Agent, the Issuing Bank Banks or the Lenders Secured Parties upon the bankruptcy or reorganization of a the Borrower or a Guarantor, or otherwise. In furtherance of the provisions of this Article 9, and not in limitation of any other right which the Administrative Agent, the Canadian Agent, the Issuing Bank Banks or the Lenders Secured Parties may have at law or in equity against a the Borrower, a Guarantor or any other Person by virtue hereof, upon failure of the Borrowers Borrower to pay any Obligation when and as the same shall become due, whether at maturity, by acceleration, after notice or otherwise, each Guarantor hereby promises to and will, upon receipt of written demand by the Administrative Agent on behalf of itself, the Canadian Agent, the Issuing Bank Banks and/or the LendersSecured Parties, forthwith pay or cause to be paid to the Administrative Agent for the benefit of itself, the Canadian Agent, the Issuing Bank Banks and/or the Lenders (as applicable) in cash an amount equal to the unpaid amount of all the Obligations with interest thereon at a rate of interest equal to the rate specified in Section 2.9(a) 2.4 hereof, and thereupon the Administrative Agent shall assign such Obligation, together with all security interests, if any, then held by the Administrative Agent in respect of such Obligation, to the Guarantors making such payment; such assignment to be subordinate and junior to the rights of the Administrative Agent on behalf of itself, the Canadian Agent, the Issuing Bank Banks and the Lenders Secured Parties with regard to amounts payable by the Borrowers Borrower in connection with the remaining unpaid Obligations and to be pro tanto to the extent to which the Obligation in question was discharged by the Guarantor or Guarantors making such payments.

Continuation and Reinstatement, etc. (a) Each Guarantor further agrees that its guaranty hereunder shall continue to be effective or be reinstated, as the case may be, if at any time payment, or any part thereof, of any Obligation is rescinded or must otherwise be restored by the Administrative Agent, the Canadian Agent, the Issuing Bank or the Lenders upon the bankruptcy or reorganization of a Borrower the Borrower, the Parent or a Guarantor, or otherwise. In furtherance of the provisions of this Article 9, and not in limitation of any other right which the Administrative Agent, the Canadian Agent, the Issuing Bank or the Lenders may have at law or in equity against a the Borrower, the Parent, a Guarantor or any other Person by virtue hereof, upon failure of the Borrowers Borrower to pay any Obligation when and as the same shall become due, whether at maturity, by acceleration, after notice or otherwise, each Guarantor hereby promises to and will, upon receipt of written demand by the Administrative Agent on behalf of itself, the Canadian Agent, itself and/or the Issuing Bank and/or the Lenders, forthwith pay or cause to be paid to the Administrative Agent for the benefit of itself, the Canadian Agent, the Issuing Bank and/or the Lenders (as applicable) in cash an amount equal to the unpaid amount of all the such unpaid Obligations with interest thereon from the due date at a rate of interest equal to the rate specified in Section 2.9(a2.7(a) hereof, and thereupon the Administrative Agent shall assign such Obligation, together with all security interests, if any, then held by the Administrative Agent in respect of such Obligation, to the Guarantor or Guarantors making such payment; such assignment to be subordinate and junior to the rights of the Administrative Agent on behalf of itself, the Canadian Agent, the Issuing Bank and the Lenders with regard to amounts payable by the Borrowers Borrower in connection with the remaining unpaid Obligations and to be pro tanto to the extent to which the Obligation in question was discharged by the Parent, the Guarantor or Guarantors making such payments.