Common use of Continuing Enforcement Clause in Contracts

Continuing Enforcement. If, after receipt of any payment of all or any part of the Borrower's Obligations hereunder, the Lender is required by law in connection with insolvency, fraudulent conveyance, bankruptcy or similar proceedings to surrender such payment then this Credit Agreement and the other Loan Documents shall continue in full force and effect, and the Borrower shall be liable for, and shall indemnify defend and hold harmless the Lender with respect to the full amount so surrendered. The provisions of this Section 8.13 shall survive the termination of this Credit Agreement and the other Loan Documents and shall remain effective notwithstanding the payment of the Borrower's Obligations hereunder, the cancellation of the Notes or any other Loan Document, the release of any security interest, lien or encumbrance securing the Borrower's Obligations hereunder or any other action which the Lender may have taken in reliance upon its receipt of such payment. Any cancellation, release or other such action by the Lender shall be deemed to have been conditioned upon any payment of the Borrower's Obligations hereunder having become final and irrevocable. * * *

Continuing Enforcement. If, after receipt of any payment of all or any part of the Borrower's Obligors' Obligations hereunder, the Lender Vornado is required by law in connection with insolvency, fraudulent conveyance, bankruptcy or similar proceedings to surrender such payment then this Credit Agreement and the other Loan Reimbursement Documents shall continue in full force and effect, and the Borrower Obligors shall be liable for, and shall indemnify indemnify, defend and hold harmless the Lender Vornado with respect to the full amount so surrendered. The provisions of this Section 8.13 9.13 shall survive the termination of this Credit Agreement and the other Loan Reimbursement Documents and shall remain effective notwithstanding the payment of the Borrower's Obligors' Obligations hereunder, the cancellation of the Notes or any other Loan Reimbursement Document, the release of any security interest, lien or encumbrance securing the Borrower's Obligors' Obligations hereunder or any other action which the Lender Vornado may have taken in reliance upon its receipt of such payment. Any cancellation, release or other such action by the Lender Vornado shall be deemed to have been conditioned upon any payment of the Borrower's Obligors' Obligations hereunder having become final and irrevocable. * * *.