Non-avoidance. If any payment by the Grantor to the Secured Party is at any time avoided for any reason including, but not limited to, any legal limitation, disability or incapacity of or affecting the Grantor or any other thing, and whether or not: (a) any transaction relating to the Secured Moneys was illegal, void or substantially avoided; or (b) any thing was or ought to have been within the knowledge of the Secured Party, that Grantor: (c) as an additional and independent obligation, indemnifies the Secured Party against that avoided payment but only to the extent that this indemnity can be satisfied out of the Secured Property; and (d) acknowledges that any liability of the Grantor under this document and any Power is the same as if that payment had not been made.
Appears in 2 contracts
Sources: Credit Agreement, Credit Agreement (Peabody Energy Corp)