Common use of Judgments Binding Clause in Contracts

Judgments Binding. If claim is ever made upon any Bank or any subsequent holder of a Note for repayment or recovery of any amount or amounts received in payment or on account of any of the indebtedness and any of the aforesaid payees repays all or part of said amount by reason of (a) any judgment, decree or order of any court or administrative body having jurisdiction over such payee or any of its property, or (b) any settlement or compromise of any such claim effected by such payee with any such claimant (including the Borrower) then and in such event Holdings agrees that any such judgment, decree, order, settlement or compromise shall be binding upon Holdings, notwithstanding any revocation hereof or the cancellation of any Note, or other instrument evidencing any liability of the Borrower, and Holdings shall be and remain liable to the aforesaid payees hereunder for the amount so repaid or recovered to the same extent as if such amount had never originally been received by any such payee. * * *

Judgments Binding. If claim is ever made upon any Bank or any subsequent holder of a Note Guaranteed Creditor for repayment or recovery of any amount or amounts received in payment or on account of any of the indebtedness and any of the aforesaid payees such Guaranteed Creditor repays all or part of said amount by reason of (a) any judgment, decree or order of any court or administrative body having jurisdiction over such payee or any of its property, or (b) any settlement or compromise of any such claim effected by such payee Guaranteed Creditor with any such claimant (including the Borrower) then and in such event Holdings agrees that any such judgment, decree, order, settlement or compromise shall be binding upon Holdings, notwithstanding any revocation hereof or the cancellation of any Note, or other instrument evidencing any liability of the Borrower, and Holdings shall be and remain liable to the aforesaid payees Guaranteed Creditors hereunder for the amount so repaid or recovered to the same extent as if such amount had never originally been received by any such payee. * * *.

Judgments Binding. If claim is ever made upon any Bank or Bank, any subsequent holder of a Note for repayment or recovery of any amount or amounts received in payment or on account of any of the indebtedness and any of the aforesaid payees repays all or part of said amount by reason of (a) any judgment, decree or order of any court or administrative body having jurisdiction over such payee or any of its property, or (b) any settlement or compromise of any such claim effected by such payee with any such claimant (including the Borrower) then and in such event Holdings agrees that any such judgment, decree, order, settlement or compromise shall be binding upon Holdings, notwithstanding any revocation hereof or the cancellation of any Note, or other instrument evidencing any liability of the Borrower, and Holdings shall be and remain liable to the aforesaid payees hereunder for the amount so repaid or recovered to the same extent as if such amount had never originally been received by any such payee. * * *.

Judgments Binding. If claim is ever made upon any Bank or any subsequent holder of a Note Guaranteed Creditor for repayment or recovery of any amount or amounts received in payment or on account of any of the indebtedness Guaranteed Obligations and any of the aforesaid payees such Guaranteed Creditor repays all or part of said amount by reason of (a) any judgment, decree or order of any court or administrative body having jurisdiction over such payee or any of its property, or (b) any settlement or compromise of any such claim effected by such payee Guaranteed Creditor with any such claimant (including the Borrower) then and in such event Holdings agrees that any such judgment, decree, order, settlement or compromise shall be binding upon Holdings, notwithstanding any revocation hereof or the cancellation of any Note, or other instrument evidencing any liability of the BorrowerGuaranteed Obligations, and Holdings shall be and remain liable to the aforesaid payees Guaranteed Creditors hereunder for the amount so repaid or recovered to the same extent as if such amount had never originally been received by any such payee. * * *.

Judgments Binding. If claim is ever made upon any Bank or any subsequent holder of a Note Guaranteed Creditor for repayment or recovery of any amount or amounts received in payment or on account of any of the indebtedness and any of the aforesaid payees such Guaranteed Creditor repays all or part of said amount by reason of (a) any judgment, decree or order of any court or administrative body having jurisdiction over such payee or any of its property, or (b) any settlement or compromise of any such claim effected by such payee Guaranteed Creditor with any such claimant (including the BorrowerAccount Party) then and in such event Holdings the Borrower agrees that any such judgment, decree, order, settlement or compromise shall be binding upon Holdingsthe Borrower, notwithstanding any revocation hereof or the cancellation of any Note, or other instrument evidencing any liability of the BorrowerAccount Party, and Holdings the Borrower shall be and remain liable to the aforesaid payees Guaranteed Creditors hereunder for the amount so repaid or recovered to the same extent as if such amount had never originally been received by any such payee. * * *.

Judgments Binding. If claim is ever made upon any Bank or any subsequent holder of a Note Guaranteed Creditor for repayment or recovery of any amount or amounts received in payment or on account of any of the indebtedness and any of the aforesaid payees such Guaranteed Creditor repays all or part of said amount by reason of (a) any judgment, decree or order of any court or administrative body having jurisdiction over such payee or any of its property, or (b) any settlement or compromise of any such claim effected by such payee Guaranteed Creditor with any such claimant (including the BorrowerBorrower and the Account Party) then and in such event Holdings agrees that any such judgment, decree, order, settlement or compromise shall be binding upon Holdings, notwithstanding any revocation hereof or the cancellation of any Note, or other instrument evidencing any liability of the BorrowerBorrower or the Account Party, and Holdings shall be and remain liable to the aforesaid payees Guaranteed Creditors hereunder for the amount so repaid or recovered to the same extent as if such amount had never originally been received by any such payee. * * *.