Common use of Reinstatement, etc Clause in Contracts

Reinstatement, etc. If at any time any payment (in whole or in part) of any of the Secured Obligations is rescinded or must otherwise be restored by the Pledgees, due to the insolvency, bankruptcy or reorganization of ACOLT or otherwise, such Secured Obligations shall, for the purposes of this Agreement, to the extent that such payment is or must be rescinded or returned, be deemed to have continued in existence, notwithstanding such application of payment, and this Agreement shall continue to be effective or be reinstated, as the case may be, as to such Secured Obligations all as though such application of payment had not been made.

Reinstatement, etc. If at any time any payment (in whole or in part) of any of the Secured Obligations is rescinded or must otherwise be restored by the Pledgees, due to the insolvency, bankruptcy or reorganization of ACOLT ABLT or otherwise, such Secured Obligations shall, for the purposes of this Agreement, to the extent that such payment is or must be rescinded or returned, be deemed to have continued in existence, notwithstanding such application of payment, and this Agreement shall continue to be effective or be reinstated, as the case may be, as to such Secured Obligations all as though such application of payment had not been made.

Reinstatement, etc. If at any time any payment (in whole or in part) of any of the Secured Obligations is rescinded or must otherwise be restored by the Pledgees, due to the insolvency, bankruptcy or reorganization of ACOLT AFLT or otherwise, such Secured Obligations shall, for the purposes of this Agreement, to the extent that such payment is or must be rescinded or returned, be deemed to have continued in existence, notwithstanding such application of payment, and this Agreement shall continue to be effective or be reinstated, as the case may be, as to such Secured Obligations all as though such application of payment had not been made.