Common use of Discharge Only Upon Payment In Full Clause in Contracts

Discharge Only Upon Payment In Full. Reinstatement in Certain ------------------------------------------------------------- Circumstances. Each Company's obligations under the Loan Papers remain in full ------------- force and effect until the Total Commitment is terminated and the Obligation is paid in full (except for provisions under the Loan Papers expressly intended to survive payment of the Obligation and termination of the Loan Papers). If at any time any payment of the principal of or interest on any Note or any other amount payable by Borrower or any other obligor on the Obligation under any Loan Paper is rescinded or must be restored or returned upon the insolvency, bankruptcy or reorganization of Borrower or otherwise, the obligations of each Company under the Loan Papers with respect to that payment shall be reinstated as though the payment had been due but not made at that time.

Appears in 2 contracts

Samples: Credit Agreement (Vail Resorts Inc), Credit Agreement (Vail Resorts Inc)

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Discharge Only Upon Payment In Full. Reinstatement in Certain ------------------------------------------------------------- Circumstances. Each Company's obligations under the Loan Papers remain in ------------- full ------------- force and effect until the Total Commitment is terminated and the Obligation is paid in full (except for provisions under the Loan Papers expressly intended to survive payment of the Obligation and termination of the Loan Papers). If at any time any payment of the principal of or interest on any Note or any other amount payable by Borrower or any other obligor on the Obligation under any Loan Paper is rescinded or must be restored or returned upon the insolvency, bankruptcy or reorganization of Borrower or otherwise, the obligations of each Company under the Loan Papers with respect to that payment shall be reinstated as though the payment had been due but not made at that time.

Appears in 1 contract

Samples: Credit Agreement (Vail Resorts Inc)

Discharge Only Upon Payment In Full. Reinstatement in Certain ------------------------------------------------------------- Circumstances. Each Company's obligations under the Loan Papers remain in full ------------- force and effect until the Total Commitment Committed Sum is terminated and the Obligation is paid in full (except for provisions under the Loan Papers expressly intended to survive payment of the Obligation and termination of the Loan Papers). If at any time any payment of the principal of or interest on any the Note or any other amount payable by Borrower or any other obligor on the Obligation under any Loan Paper is rescinded or must be restored or returned upon the insolvency, bankruptcy or reorganization of Borrower or otherwise, the obligations of each Company under the Loan Papers with respect to that payment shall be reinstated as though the payment had been due but not made at that time.

Appears in 1 contract

Samples: Credit Agreement (Vail Resorts Inc)

Discharge Only Upon Payment In Full. Reinstatement in Certain ------------------------------------------------------------- Circumstances. Each CompanyBorrower's obligations under the Loan Papers Documents remain in full ------------- force and effect until the Total Commitment is terminated and the Obligation is paid in full (except for provisions under the Loan Papers Documents expressly intended to survive payment of the Obligation and termination of the Loan PapersDocuments). If at any time any payment of the principal of or interest on any Note or any other amount payable by Borrower or any other obligor on the Obligation under any Loan Paper Document is rescinded or must be restored or returned upon the insolvency, bankruptcy or reorganization of Borrower or otherwise, the obligations of each Company Borrower under the Loan Papers Documents with respect to that payment shall be reinstated as though the payment had been due but not made at that time.

Appears in 1 contract

Samples: Credit Agreement (Vail Resorts Inc)

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Discharge Only Upon Payment In Full. Reinstatement in ----------------------------------------------------- Certain ------------------------------------------------------------- Circumstances. Each Company's obligations under the Loan --------------------- Papers remain in full ------------- force and effect until the Total Commitment is terminated and the Obligation is paid in full (except for provisions under the Loan Papers which by their terms expressly intended to survive payment of the Obligation and termination of the Loan Papers). If at any time any payment of the principal of or interest on any Note or any other amount payable by Borrower or any other obligor on the Obligation under any Loan Paper is rescinded or must be restored or returned upon the insolvency, bankruptcy or reorganization of Borrower or otherwise, the obligations of each Company under the Loan Papers with respect to that payment shall be reinstated as though the payment had been due but not made at that time.

Appears in 1 contract

Samples: Credit Agreement (Morningstar Group Inc)

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