Common use of Payments Rescinded Clause in Contracts

Payments Rescinded. Any payment by the Borrower or any other Loan Party to the Lenders is held to constitute a preference under any Debtor Relief Law, or for any reason the Lenders are required to refund such payment or pay such amount to the Borrower or any other Loan Party or someone else; or

Appears in 4 contracts

Samples: Credit Agreement (Willbros Group, Inc.\NEW\), Credit Agreement (Willbros Group, Inc.\NEW\), Credit Agreement (Willbros Group, Inc.\NEW\)

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Payments Rescinded. Any payment by the Borrower or any other Loan Party to the Lenders Lender Parties is held to constitute a preference under any Debtor Relief Lawthe bankruptcy laws, or for any reason the Lenders Lender Parties are required to refund such payment or pay such amount to the Borrower or any other Loan Party or someone elsePerson; or

Appears in 2 contracts

Samples: Pledge Agreement (Brown Tom Inc /De), Pledge Agreement (Brown Tom Inc /De)

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Payments Rescinded. Any payment by the a Borrower or any other Loan Party to the Lenders Lender Parties is held to constitute a preference under any Debtor Relief Lawthe bankruptcy laws, or for any reason the Lenders Lender Parties are required to refund such payment or pay such amount to the Borrower or any other Loan Party or someone elsePerson; or

Appears in 1 contract

Samples: Pledge Agreement (Brown Tom Inc /De)

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