Common use of Preference Clause in Contracts

Preference. Any payment by Borrower to Lender is held to constitute a preference under the Bankruptcy Code or for any reason Lender is required to refund such payment or pay such amount to Borrower or to any other Person.

Appears in 22 contracts

Sources: Guaranty of Recourse Obligations (Generation Income Properties, Inc.), Guaranty (Hospitality Investors Trust, Inc.), Mezzanine Guaranty (Hospitality Investors Trust, Inc.)

Preference. Any payment by Borrower to Lender is held to constitute a preference under the Bankruptcy Code bankruptcy laws or for any reason Lender is required to refund such payment or pay such amount to Borrower or to any other Personsomeone else.

Appears in 19 contracts

Sources: Completion Guaranty (Bh Re LLC), Guaranty of Recourse Obligations (Behringer Harvard Reit I Inc), Guaranty (GMH Communities Trust)

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

Appears in 8 contracts

Sources: Guaranty of Recourse Obligations (Ashford Hospitality Trust Inc), Guaranty of Recourse Obligations (Ashford Hospitality Trust Inc), Guaranty of Recourse Obligations (Ashford Hospitality Trust Inc)

Preference. Any payment by Borrower to Lender is held to constitute a preference under the Bankruptcy Code or any other Creditors’ Rights Laws, or for any reason Lender is required to refund such payment or pay such amount to Borrower or to any other Personsomeone else.

Appears in 7 contracts

Sources: Guaranty and Indemnity Agreement, Guaranty and Indemnity Agreement, Guaranty and Indemnity Agreement (Ashford Hospitality Trust Inc)

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

Appears in 5 contracts

Sources: Commercial Guaranty Agreement (Independent Bank Group Inc), Revolving Credit Agreement (Cross Timbers Oil Co), Guaranty Agreement (America West Holdings Corp)

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

Appears in 5 contracts

Sources: Completion Guaranty Agreement (Lodging Fund REIT III, Inc.), Guaranty (Assisted 4 Living, Inc.), Guaranty of Recourse Obligations (Inland Diversified Real Estate Trust, Inc.)

Preference. Any payment by Borrower to Agent or Lender is held to constitute a preference under the Bankruptcy Code or for any reason Agent or any Lender is required to refund such payment or pay such amount to Borrower or to any other Person.

Appears in 4 contracts

Sources: Guaranty of Completion (ACRES Commercial Realty Corp.), Guaranty of Recourse Obligations (ACRES Commercial Realty Corp.), Guaranty of Interest and Carry Costs (ACRES Commercial Realty Corp.)

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

Appears in 4 contracts

Sources: Guaranty of Recourse Obligations (EQT Exeter Real Estate Income Trust, Inc.), Guaranty of Recourse Obligations (Stratus Properties Inc), Guaranty of Recourse Obligations (Strategic Storage Trust VI, Inc.)

Preference. Any payment by Borrower any one or both of the Borrowers to Lender is held to constitute a preference under the Bankruptcy Code or for any reason Lender is required to refund such payment or pay such amount to such Borrower or Borrowers or to any other Person.

Appears in 3 contracts

Sources: Guaranty of Recourse Obligations (American Realty Capital Hospitality Trust, Inc.), Real Estate Sale Agreement (W2007 Grace Acquisition I Inc), Real Estate Sale Agreement (American Realty Capital Hospitality Trust, Inc.)

Preference. Any payment by Borrower to Lender is held to constitute a preference under the Bankruptcy Code bankruptcy laws or for any reason Lender is required to refund or remit any such payment or pay such amount to Borrower or to any other Personperson.

Appears in 3 contracts

Sources: Guaranty Agreement (Cil&d, LLC), Guaranty Agreement (Cil&d, LLC), Guaranty Agreement (Cil&d, LLC)

Preference. Any payment by Borrower to Lender is held to constitute a preference under the Bankruptcy Code Creditors’ Rights Laws, or for any reason Lender is required to refund such payment or pay such amount to Borrower or to any other Personsomeone else.

Appears in 3 contracts

Sources: Guaranty Agreement (ACRES Commercial Realty Corp.), Completion Guaranty Agreement (ACRES Commercial Realty Corp.), Carry Guaranty Agreement (ACRES Commercial Realty Corp.)

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

Appears in 3 contracts

Sources: Loan Agreement (MPG Office Trust, Inc.), Loan Agreement (MPG Office Trust, Inc.), Guaranty Agreement (Maguire Properties Inc)

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

Appears in 3 contracts

Sources: Unconditional Guaranty Agreement (Us Home Systems Inc /Tx), Unconditional Guaranty Agreement (Us Home Systems Inc /Tx), Unconditional Guaranty Agreement (Us Home Systems Inc /Tx)

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

Appears in 3 contracts

Sources: Unconditional Guaranty Agreement (Tidel Technologies Inc), Unconditional Guaranty Agreement (Tidel Technologies Inc), Unconditional Guaranty Agreement (Tidel Technologies Inc)

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

Appears in 2 contracts

Sources: Guaranty Agreement (Morgans Hotel Group Co.), Guaranty Agreement (Morgans Hotel Group Co.)

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

Appears in 2 contracts

Sources: Guaranty (Golf Ventures Inc), Guaranty (Golf Ventures Inc)

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

Appears in 2 contracts

Sources: Guaranty Agreement (Moody National REIT I, Inc.), Guaranty Agreement (Moody National REIT I, Inc.)

Preference. Any payment by Borrower to Lender is held to constitute a preference under the Bankruptcy Code bankruptcy laws or for any reason Lender is required to refund such payment or pay such amount to Borrower or someone else pursuant to any other Personapplicable Federal or State bankruptcy or insolvency law relating to the bankruptcy or insolvency of Borrower or Guarantor.

Appears in 2 contracts

Sources: Guaranty Agreement (Five Point Holdings, LLC), Mezzanine Guaranty Agreement (Five Point Holdings, LLC)

Preference. Any payment by the Borrower to the Lender is held to ---------- constitute a preference under the Bankruptcy Code bankruptcy laws, or for any reason the Lender is required to refund such payment or pay such amount to the Borrower or to any some other Person.; or

Appears in 1 contract

Sources: Guaranty Agreement (Pendaries Petroleum LTD)

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

Appears in 1 contract

Sources: Guaranty (Capital Trust Inc)

Preference. Any payment by Borrower to Lender is held to constitute a preference under the Bankruptcy Code bankruptcy laws, or for any reason Lender is required to refund such payment or pay such amount to Borrowers or any Borrower Party or to any other Personsomeone else.

Appears in 1 contract

Sources: Guaranty (Steadfast Income REIT, Inc.)

Preference. Any payment by the Borrower to the Lender is being held to constitute a preference under bankruptcy laws or the Bankruptcy Code or Lender for any reason Lender is being required to refund such payment or pay such amount to the Borrower or to any other Person.someone else; and

Appears in 1 contract

Sources: Guaranty (TNP Strategic Retail Trust, Inc.)

Preference. Any payment by Borrower Debtor to Lender Creditor is held to constitute a preference under the Bankruptcy Code bankruptcy laws, or for any reason Lender Creditor is required to refund such payment or pay such amount to Borrower Debtor or to any other Personsomeone else.

Appears in 1 contract

Sources: Guaranty (Naturade Inc)

Preference. Any payment by any Borrower to Lender or by any Mortgage Borrower to Mortgage Lender, as applicable, is held to constitute a preference under the Bankruptcy Code bankruptcy laws, or for any reason Lender or Mortgage Lender is required to refund such payment or pay such amount to such Borrower or to any other PersonMortgage Borrower, or someone else, as applicable.

Appears in 1 contract

Sources: First Mezzanine Guaranty Agreement (Morgans Hotel Group Co.)

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

Appears in 1 contract

Sources: Guaranty Agreement (Inland American Real Estate Trust, Inc.)

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

Appears in 1 contract

Sources: Guaranty Agreement (Inland Diversified Real Estate Trust, Inc.)

Preference. Any payment by Borrower or any other Loan Party to Lender is held to constitute a preference under the Bankruptcy Code bankruptcy laws, or for any reason Lender is required to refund such payment or pay such amount to Borrower or to any other Personsomeone else.

Appears in 1 contract

Sources: Guaranty Agreement (Cgen Digital Media Co LTD)

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

Appears in 1 contract

Sources: First Mezzanine Guaranty Agreement (Morgans Hotel Group Co.)

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

Appears in 1 contract

Sources: Guaranty (Harken Energy Corp)

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

Appears in 1 contract

Sources: Guaranty Agreement (ESH Hospitality, Inc.)

Preference. Any payment by Borrower Guarantor to Lender that is held to constitute a preference under the Bankruptcy Code Laws, or for any reason Lender is required to refund such payment or pay such amount to Borrower or to any other Personperson or entity.

Appears in 1 contract

Sources: Guaranty

Preference. Any payment by any Borrower to Lender is held to constitute a preference under the Bankruptcy Code bankruptcy laws or for any reason Lender is required to refund such payment or pay such amount to any Borrower or to any other Personsomeone else.

Appears in 1 contract

Sources: Guaranty of Recourse Obligations (Ventas Inc)

Preference. Any payment by any Borrower to Lender or by any Mortgage Borrower to Mortgage Lender, as applicable, is held to constitute a preference under the Bankruptcy Code bankruptcy laws or for any reason Lender or Mortgage Lender is required to refund such payment or pay such amount to any Borrower or any Mortgage Borrower, or to any other Person, as applicable.

Appears in 1 contract

Sources: Guaranty of Completion (Morgans Hotel Group Co.)

Preference. Any payment by Borrower to Lender is held to constitute a preference under the Bankruptcy Code or for any reason Lender is required to refund such payment or pay such amount to Borrower or to any other Personperson/entity.

Appears in 1 contract

Sources: Limited Recourse Guaranty (Generation Income Properties, Inc.)

Preference. Any payment by Borrower any Obligor to Lender is held to constitute a preference under the Bankruptcy Code bankruptcy laws or for any reason Lender is required to refund such payment or pay such amount to Borrower any Obligor or to any other Personsomeone else.

Appears in 1 contract

Sources: Guaranty (Ventas Inc)