Common use of Invalidated Payments Clause in Contracts

Invalidated Payments. In the event that any of the Specified Senior Indebtedness shall be paid in full and subsequently, for whatever reason, such formerly paid or satisfied Specified Senior Indebtedness becomes unpaid or unsatisfied, the terms and conditions of this Article 5 shall be reinstated and the provisions of this Article shall again be operative until all Specified Senior Indebtedness is repaid in full, provided that such reinstatement shall not give the Senior Creditors any rights or recourses against the Trustee or the Holders for amounts paid to the Holders subsequent to such payment or satisfaction in full and prior to such reinstatement.

Appears in 1 contract

Sources: Indenture

Invalidated Payments. In the event that any of the Specified Senior Secured Indebtedness shall be paid in full and subsequently, for whatever reason, such formerly paid or satisfied Specified Senior Secured Indebtedness becomes unpaid or unsatisfied, the terms and conditions of this Article 5 shall be reinstated and the provisions of this Article shall again be operative until all Specified Senior Secured Indebtedness is repaid in full, provided that such reinstatement shall not give the Senior Creditors any rights or recourses against the Trustee or the Holders Debentureholders for amounts paid to the Holders Debentureholders subsequent to such payment or satisfaction in full and prior to such reinstatement.

Appears in 1 contract

Sources: Debenture Indenture (Yukon New Parent, Inc.)

Invalidated Payments. In the event that any of the Specified Senior Indebtedness shall be paid in full and subsequently, for whatever reason, such formerly paid or satisfied Specified Senior Indebtedness becomes unpaid or unsatisfied, the terms and conditions of this Article 5 shall be reinstated and the provisions of this Article shall again be operative until all Specified Senior Indebtedness is repaid in full, provided that such reinstatement shall not give the holders of Senior Creditors Indebtedness any rights or recourses against the Debenture Trustee or the Holders Debentureholders for amounts paid to the Holders Debentureholders subsequent to such payment or satisfaction in full and prior to such reinstatement.

Appears in 1 contract

Sources: Trust Indenture

Invalidated Payments. In the event that any of the Specified Senior Indebtedness shall be paid in full and subsequently, for whatever reason, such formerly paid or satisfied Specified Senior Indebtedness becomes unpaid or unsatisfied, the terms and conditions of this Article 5 shall be reinstated and the provisions of this Article 5 shall again be operative until all Specified Senior Indebtedness is repaid in full, provided that such reinstatement shall not give the Senior Creditors any rights or recourses against the Note Trustee or the Holders Noteholders for amounts paid to the Holders Noteholders or on account of the Note subsequent to such payment or satisfaction in full and prior to such reinstatement.

Appears in 1 contract

Sources: Trust Indenture (Just Energy Group Inc.)

Invalidated Payments. In the event that any of the Specified Senior Indebtedness shall be paid in full and subsequently, for whatever reason, such formerly paid or satisfied Specified Senior Indebtedness becomes unpaid or unsatisfied, the terms and conditions of this Article 5 shall be reinstated and the provisions of this Article shall again be operative until all Specified Senior Indebtedness is repaid in full, provided that such reinstatement shall not give the Senior Creditors any rights or recourses against the Debenture Trustee or the Holders Debentureholders for amounts paid to o t the Holders Debentureholders subsequent to such payment or satisfaction in full and prior to such reinstatement.

Appears in 1 contract

Sources: Trust Indenture (Penn West Energy Trust)

Invalidated Payments. In the event that any of the Specified Senior Indebtedness shall be paid in full and subsequently, for whatever reason, such formerly paid or satisfied Specified Senior Indebtedness becomes unpaid or unsatisfied, the terms and conditions of this Article 5 6 shall be reinstated and the provisions of this Article shall again be operative until all Specified such Senior Indebtedness is repaid in full, provided that such reinstatement shall not give the such Senior Creditors any rights or recourses against the Trustee or the Holders Noteholders for amounts paid to the Holders Noteholders subsequent to such payment or satisfaction in full and prior to such reinstatement.

Appears in 1 contract

Sources: Secured Note Indenture (Joway Health Industries Group Inc)

Invalidated Payments. In the event that any of the Specified Senior Indebtedness shall be paid in full and subsequently, for whatever reason, such formerly paid or satisfied Specified Senior Indebtedness becomes unpaid or unsatisfied, the terms and conditions of this Article 5 4 shall be reinstated and the provisions of this Article 4 shall again be operative until all Specified Senior Indebtedness is repaid in full, provided that such reinstatement shall not give the Senior Creditors any rights or recourses against the Trustee or the Holders Debentureholders for amounts paid to the Holders Debentureholders subsequent to such payment or satisfaction in full and prior to such reinstatement.

Appears in 1 contract

Sources: Indenture

Invalidated Payments. β€Œ In the event that any of the Specified Senior Secured Indebtedness shall be paid in full and subsequently, for whatever reason, such formerly paid or satisfied Specified Senior Secured Indebtedness becomes unpaid or unsatisfied, the terms and conditions of this Article 5 shall be reinstated and the provisions of this Article 5 shall again be operative until all Specified Senior Secured Indebtedness is repaid in full, provided that such reinstatement shall not give the Senior Creditors any rights or recourses against the Trustee or the Holders Debentureholders for amounts paid to the Holders Debentureholders subsequent to such payment or satisfaction in full and prior to such reinstatement.

Appears in 1 contract

Sources: Indenture

Invalidated Payments. In the event that any of the Specified Senior Indebtedness shall be paid in full and subsequently, for whatever reason, such formerly paid or satisfied Specified Senior Indebtedness becomes unpaid or unsatisfied, the terms and conditions of this Article 5 shall be reinstated and the provisions of this Article 5 shall again be operative until all Specified Senior Indebtedness is repaid in full, provided that such reinstatement shall not give the Senior Creditors any rights or recourses against the Debenture Trustee or the Holders Debentureholders for amounts paid to the Holders Debentureholders or on account of the Debentures subsequent to such payment or satisfaction in full and prior to such reinstatement.

Appears in 1 contract

Sources: Trust Indenture (Primero Mining Corp)

Invalidated Payments. In the event that any of the Specified Senior Indebtedness shall be paid in full and subsequently, for whatever reason, such formerly paid or satisfied Specified Senior Indebtedness becomes unpaid or unsatisfied, the terms and conditions of this Article 5 shall be reinstated and the provisions of this Article shall again be operative until all Specified Senior Indebtedness is repaid in full, provided that such reinstatement shall not give the Senior Creditors any rights or recourses against the Trustee or the Holders Debentureholders for amounts paid to the Holders Debentureholders subsequent to such payment or satisfaction in full and prior to such reinstatement.. ​

Appears in 1 contract

Sources: Indenture (Vision Marine Technologies Inc.)