Common use of Recovery or Avoidance of Payments Clause in Contracts

Recovery or Avoidance of Payments. In the event any payment by or on behalf of Borrowers received by Agent with respect to any Letter of Credit and distributed by Agent to Lenders on account of their respective participations therein is thereafter set aside, avoided or recovered from Agent in connection with any receivership, liquidation or bankruptcy proceeding, Lenders shall, upon demand by Agent, pay to Agent their respective Pro Rata Shares of such amount set aside, avoided or recovered, together with interest at the rate required to be paid by Agent upon the amount required to be repaid by it.

Recovery or Avoidance of Payments. In the event any payment by or on behalf of Borrowers Xxxxxxxxx received by Agent with respect to any Letter of Credit and distributed by Agent to Lenders on account of their respective participations therein is thereafter set aside, avoided or recovered from Agent in connection with any receivership, liquidation or bankruptcy proceeding, Lenders shall, upon demand by Agent, pay to Agent their respective Pro Rata Shares of such amount set aside, avoided or recovered, together with interest at the rate required to be paid by Agent upon the amount required to be repaid by it.

Recovery or Avoidance of Payments. In the event any payment by or on behalf of Borrowers Bxxxxxxxx received by Agent with respect to any Letter of Credit and distributed by Agent to Lenders on account of their respective participations therein is thereafter set aside, avoided or recovered from Agent in connection with any receivership, liquidation or bankruptcy proceeding, Lenders shall, upon demand by Agent, pay to Agent their respective Pro Rata Shares of such amount set aside, avoided or recovered, together with interest at the rate required to be paid by Agent upon the amount required to be repaid by it.

Recovery or Avoidance of Payments. In the event any payment by or on behalf of Borrowers the Borrower received by the Agent with respect to any a Letter of Credit and distributed by the Agent to Lenders the Banks on account of their respective participations therein is thereafter set aside, avoided or recovered from the Agent in connection with any receivership, liquidation or bankruptcy proceeding, Lenders each Bank that received such distribution shall, upon demand by such Agent, pay to Agent their respective Pro Rata Shares contribute such Bank's ratable share of such the amount set aside, avoided or recovered, recovered together with interest at the rate required to be paid by the Agent upon the amount required to be repaid by it.