Common use of Disgorged Payments Clause in Contracts

Disgorged Payments. The Guarantor further agrees that, if at any time all or any part of any payment theretofore applied by the Agent or the Banks to any of the Guaranteed Liabilities is or must be rescinded or returned by the Agent or the Banks for any reason whatsoever (including the insolvency, bankruptcy or reorganization of Manor Care or the Guarantor), such Guaranteed Liabilities shall, for the purposes of this Guaranty, to the extent that such payment is or must be rescinded or returned, be deemed to have continued in existence, notwithstanding such application by the Agent or the Banks, and this Guaranty shall continue to be effective or be reinstated, as the case may be, as to such Guaranteed Liabilities, all as though such application by the Agent or the Banks had not been made.

Disgorged Payments. The Each Guarantor further agrees that, if at any time all or any part of any payment theretofore applied by the Agent or the Banks to Lenders at any of the Guaranteed Liabilities is or must be rescinded or returned by the Agent or the Banks Lenders for any reason whatsoever (including including, without limitation, the insolvency, bankruptcy or reorganization of Manor Care or the Guarantorany Company), such Guaranteed Liabilities shall, for the purposes of this Guaranty, to the extent that such payment is or must be rescinded or returned, be deemed to have continued in existence, notwithstanding such application by the Agent or the BanksLenders, and this Guaranty shall continue to be effective or be reinstated, as the case may be, as to such Guaranteed Liabilities, all as though such application by the Agent or the Banks Lenders had not been made.

Disgorged Payments. The Each Guarantor further agrees that, if at any time all or any part of any payment theretofore applied by the Agent or the Banks to any of the Guaranteed Liabilities is or must be rescinded or returned by the Agent or the Banks for any reason whatsoever (including the insolvency, bankruptcy or reorganization of Manor Care the Company or the any Guarantor), such Guaranteed Liabilities shall, for the purposes of this Guaranty, to the extent that such payment is or must be rescinded or returned, be deemed to have continued in existence, notwithstanding such application by the Agent or the Banks, and this Guaranty shall continue to be effective or be reinstated, as the case may be, as to such Guaranteed Liabilities, all as though such application by the Agent or the Banks had not been made.

Disgorged Payments. The Each Guarantor further agrees that, if at any time all or any part of any payment theretofore applied by the Agent or the Banks to any of the Guaranteed Liabilities is or must be rescinded or returned by the Agent or the Banks for any reason whatsoever (including the insolvency, bankruptcy or reorganization of Manor Care or the any Guarantor), such Guaranteed Liabilities shall, for the purposes of this Guaranty, to the extent that such payment is or must be rescinded or returned, be deemed to have continued in existence, notwithstanding such application by the Agent or the Banks, and this Guaranty shall continue to be effective or be reinstated, as the case may be, as to such Guaranteed Liabilities, all as though such application by the Agent or the Banks had not been made.

Disgorged Payments. The Each Guarantor further agrees that, if at any time all or any part of any payment theretofore applied by the Agent or the Banks Lenders to any of the Guaranteed Liabilities is or must be rescinded or returned by the Agent or the Banks Lenders for any reason whatsoever (including including, without limitation, the insolvency, bankruptcy or reorganization of Manor Care or the Guarantorany Company), such Guaranteed Liabilities shall, for the purposes of this Guaranty, to the extent that such payment is or must be rescinded or returned, be deemed to have continued in existence, notwithstanding such application by the Agent or the BanksLenders, and this Guaranty shall continue to be effective or be reinstated, as the case may be, as to such Guaranteed Liabilities, all as though such application by the Agent or the Banks Lenders had not been made.