Common use of Continuing Nature of this Agreement Clause in Contracts

Continuing Nature of this Agreement. This Agreement, including the subordination provisions hereof, will be reinstated if at any time any payment or distribution in respect of any of the Priority Lien Obligations is rescinded or must otherwise be returned in an Insolvency or Liquidation Proceeding or otherwise by any Priority Lien Secured Party or Priority Lien Representative or any representative of any such party (whether by demand, settlement, litigation or otherwise). In the event that all or any part of a payment or distribution made with respect to the Priority Lien Obligations is recovered from any Priority Lien Secured Party or any Priority Lien Representative in an Insolvency or Liquidation Proceeding or otherwise, such payment or distribution received by any Junior Lien Secured Party or Junior Lien Representative with respect to the Junior Lien Obligations from the proceeds of any Collateral at any time after the date of the payment or distribution that is so recovered, whether pursuant to a right of subrogation or otherwise, that Junior Lien Representative or that Junior Lien Secured Party, as the case may be, will forthwith deliver the same to the Collateral Agent, for the account of the Priority Lien Secured Parties to be applied in accordance with Section 3.4. Until so delivered, such proceeds will be held by that Junior Lien Representative or that Junior Lien Secured Party, as the case may be, for the benefit of the Priority Lien Secured Parties.

Continuing Nature of this Agreement. This Agreement, including the subordination provisions hereof, will be reinstated if at any time any payment or distribution in respect of any of the Priority First Lien Obligations is rescinded or must otherwise be returned in an Insolvency or Liquidation Proceeding or otherwise by any Priority First Lien Secured Party or Priority First Lien Debt Representative or any representative of any such party (whether by demand, settlement, litigation or otherwise). In the event that all or any part of a payment or distribution made with respect to the Priority First Lien Obligations is recovered from any Priority First Lien Secured Party or any Priority First Lien Debt Representative in an Insolvency or Liquidation Proceeding or otherwise, any such payment or distribution received by any Junior Lien Secured Party or Junior Lien Debt Representative with respect to the Junior Lien Obligations from the proceeds of any Collateral at any time after the date of the payment or distribution that is so recovered, whether pursuant to a right of subrogation or otherwise, that Junior Lien Representative or that otherwise will be forthwith delivered by such Junior Lien Secured Party, as the case may be, will forthwith deliver the same Party or Junior Lien Debt Representative to the Collateral Agent, for the account of the Priority First Lien Secured Parties to be applied in accordance with Section 3.43.04. Until so delivered, such proceeds will be held by that Junior Lien Debt Representative or that Junior Lien Xxxxxx Xxxx Secured Party, as the case may be, for the benefit of the Priority First Lien Secured Parties. This Section 7.23 shall survive the termination of this Agreement.

Continuing Nature of this Agreement. This Agreement, including the subordination provisions hereof, will be reinstated if at any time any payment or distribution in respect of any of the Priority Lien Obligations is rescinded or must otherwise be returned in an Insolvency or Liquidation Proceeding or otherwise by any Priority Lien Secured Party or Priority Lien Representative or any representative of any such party (whether by demand, settlement, litigation or otherwise). In the event that all or any part of a payment or distribution made with respect to the Priority Lien Obligations is recovered from any Priority Lien Secured Party or any Priority Lien Representative in an Insolvency or Liquidation Proceeding or otherwise, such payment or distribution received by any Junior Parity Lien Secured Party or Junior Parity Lien Representative with respect to the Junior Parity Lien Obligations from the proceeds of any Collateral or any insurance policy required by any real property mortgage at any time after the date of the payment or distribution that is so recovered, whether pursuant to a right of subrogation or otherwise, that Junior Parity Lien Representative or that Junior Parity Lien Secured Party, as the case may be, will forthwith deliver the same to the Collateral AgentTrustee, for the account of the Priority Lien Secured Parties to be applied in accordance with Section 3.4. Until so delivered, such proceeds will be held by that Junior Parity Lien Representative or that Junior Parity Lien Secured Party, as the case may be, for the benefit of the Priority Lien Secured Parties.

Continuing Nature of this Agreement. This Agreement, including the subordination provisions hereof, will be reinstated if at any time any payment or distribution in respect of any of the Priority Lien Obligations is rescinded or must otherwise be returned in an Insolvency or Liquidation Proceeding or otherwise by any Priority Lien Secured Party or Priority Lien Representative or any representative of any such party (whether by demand, settlement, litigation or otherwise). In the event that all or any part of a payment or distribution made with respect to the Priority Lien Obligations is recovered from any Priority Lien Secured Party or any Priority Lien Representative in an Insolvency or Liquidation Proceeding or otherwise, any such payment or distribution received by any Junior Parity Lien Secured Party or Junior Parity Lien Representative with respect to the Junior Parity Lien Obligations from the proceeds of any Collateral or any title insurance policy required by any real property mortgage at any time after the date of the payment or distribution that is so recovered, whether pursuant to a right of subrogation or otherwise, that Junior otherwise will be forthwith delivered by such Parity Lien Secured Party or Parity Lien Representative or that Junior Lien Secured Party, as the case may be, will forthwith deliver the same to the Collateral AgentTrustee, for the account of the Priority Lien Secured Parties to be applied in accordance with Section 3.4. Until so delivered, such proceeds will be held by that Junior Parity Lien Representative or that Junior Parity Lien Secured Party, as the case may be, for the benefit of the Priority Lien Secured Parties.

Continuing Nature of this Agreement. This Agreement, including the subordination provisions hereof, will be reinstated if at any time any payment or distribution in respect of any of the Priority First Lien Obligations is rescinded or must otherwise be returned in an Insolvency or Liquidation Proceeding or otherwise by any Priority First Lien Secured Party or Priority First Lien Debt Representative or any representative of any such party (whether by demand, settlement, litigation or otherwise). In the event that all or any part of a payment or distribution made with respect to the Priority First Lien Obligations is recovered from any Priority First Lien Secured Party or any Priority First Lien Debt Representative in an Insolvency or Liquidation Proceeding or otherwise, any such payment or distribution received by any Junior Lien Secured Party or Junior Lien Debt Representative with respect to the Junior Lien Obligations from the proceeds of any Collateral at any time after the date of the payment or distribution that is so recovered, whether pursuant to a right of subrogation or otherwise, that Junior Lien Representative or that otherwise will be forthwith delivered by such Junior Lien Secured Party, as the case may be, will forthwith deliver the same Party or Junior Lien Debt Representative to the Collateral AgentTrustee, for the account of the Priority First Lien Secured Parties to be applied in accordance with Section 3.43.04. Until so delivered, such proceeds will be held by that Junior Lien Debt Representative or that Junior Lien Xxxxxx Xxxx Secured Party, as the case may be, for the benefit of the Priority First Lien Secured Parties. This Section 7.24 shall survive the termination of this Agreement.

Continuing Nature of this Agreement. This Agreement, including the subordination provisions hereof, will be reinstated if at any time any payment or distribution in respect of any of the Priority First Lien Obligations is rescinded or must otherwise be returned in an Insolvency or Liquidation Proceeding or otherwise by any Priority First Lien Secured Party or Priority First Lien Debt Representative or any representative of any such party (whether by demand, settlement, litigation or otherwise). In the event that all or any part of a payment or distribution made with respect to the Priority First Lien Obligations is recovered from any Priority First Lien Secured Party or any Priority First Lien Debt Representative in an Insolvency or Liquidation Proceeding or otherwise, any such payment or distribution received by any Junior Lien Secured Party or Junior Lien Debt Representative with respect to the Junior Lien Obligations from the proceeds of any Collateral at any time after the date of the payment or distribution that is so recovered, whether pursuant to a right of subrogation or otherwise, that Junior Lien Representative or that otherwise will be forthwith delivered by such Junior Lien Secured Party, as the case may be, will forthwith deliver the same Party or Junior Lien Debt Representative to the Collateral AgentTrustee, for the account of the Priority First Lien Secured Parties to be applied in accordance with Section 3.43.04. Until so delivered, such proceeds will be held by that Junior Lien Debt Representative or that Junior Lien Jxxxxx Xxxx Secured Party, as the case may be, for the benefit of the Priority First Lien Secured Parties. This Section 7.23 shall survive the termination of this Agreement.