Common use of Preference Clause in Contracts

Preference. Any payment by any Borrower to the Agent or any Lender is held to constitute a preference under bankruptcy laws, or for any reason the Agent or such Lender is required to refund such payment or pay such amount to such Borrower or someone else.

Appears in 3 contracts

Sources: Guaranty (Emrise CORP), Guaranty (Emrise CORP), Guaranty (Emrise CORP)

Preference. Any payment by any Borrower to the Agent or any Lender is held to constitute a preference under bankruptcy laws, laws or for any reason the Agent or such Lender is required to refund such payment or pay such amount to such Borrower or someone elseto any other Person.

Appears in 2 contracts

Sources: Non Recourse Carve Out Guaranty Agreement (Allegiant Travel CO), Guaranty of Payment (Allegiant Travel CO)

Preference. Any payment by any Borrower Borrowers to the Agent or any Lender and/or Banks is held to constitute a preference under bankruptcy laws, laws or for any reason the Agent or such Lender is Banks are required to refund such payment or pay such amount to such Borrower Borrowers or someone else.

Appears in 1 contract

Sources: Guaranty of Recourse Carveouts (EnerJex Resources, Inc.)

Preference. Any payment by any Borrower to the Lender or Agent or any Lender is held to constitute a preference under bankruptcy laws, laws or for any reason the Lender or Agent or such Lender is required to refund such payment or pay such amount to such Borrower or someone elseto any other Person.

Appears in 1 contract

Sources: Guaranty of Completion (Allegiant Travel CO)

Preference. Any payment by any Borrower to the Agent or any Lender and/or Lenders is held to constitute a preference under bankruptcy laws, laws or for any reason the Agent or such Lender is and/or Lenders are required to refund such payment or pay such amount to such Borrower or someone else.

Appears in 1 contract

Sources: Guaranty (Sothebys)

Preference. Any payment by any Borrower to the Agent or any Lender is held to constitute a preference under bankruptcy laws, or for any reason the Agent or such Lender is required to refund such payment or pay such amount to such Borrower or someone else.

Appears in 1 contract

Sources: Indemnity Guaranty (Katapult Holdings, Inc.)

Preference. Any payment by any Borrower to the Agent or any Lender Purchaser is held to constitute a preference under bankruptcy laws, or for any reason the Agent or such Lender any Purchaser is required to refund such payment or pay such amount to such Borrower or someone else.; or

Appears in 1 contract

Sources: Note Purchase Agreement (Ace Cash Express Inc/Tx)

Preference. Any payment by any Borrower to the Agent or any Lender is held to constitute a preference under bankruptcy laws, or for any reason the Agent or such Lender is required to refund such payment or pay such amount to such Borrower or someone else.

Appears in 1 contract

Sources: Indemnification & Liability (CURO Group Holdings Corp.)

Preference. Any payment by any Borrower to the Agent or any Lender and/or Lenders is held to constitute a preference under bankruptcy laws, laws or for any reason the Agent or such Lender is Lenders are required to refund such payment or pay such amount to such Borrower or someone else.

Appears in 1 contract

Sources: Guaranty of Recourse Carveouts (Hilton Worldwide Holdings Inc.)