Rescission of payments etc. Any discharge, release or reassignment by a Finance Party of any of the security constituted by, or any of the obligations of a Security Party contained in, a Finance Document shall be (and be deemed always to have been) void if any act (including, without limitation, any payment) as a result of which such discharge, release or reassignment was given or made is subsequently wholly or partially rescinded or avoided by operation of any law.
Appears in 34 contracts
Samples: Loan Agreement (Teekay Tankers Ltd.), Facility Agreement, Loan Agreement
Rescission of payments etc. Any discharge, release or reassignment by a Finance Party the Lender of any of the security constituted by, or any of the obligations of a Security Party contained in, a Finance Document shall be (and be deemed always to have been) void if any act (including, without limitation, any payment) as a result of which such discharge, release or reassignment was given or made is subsequently wholly or partially rescinded or avoided by operation of any law.
Appears in 12 contracts
Samples: Loan Agreement (Diana Shipping Inc.), Loan Agreement (Poseidon Containers Holdings Corp.), Loan Agreement (Paragon Shipping Inc.)
Rescission of payments etc. Any discharge, release or reassignment by a Finance Party the Lender of any of the security constituted by, or any of the obligations of a Security Party and/or the Bareboat Charterer contained in, a Finance Document shall be (and be deemed always to have been) void if any act (including, without limitation, any payment) as a result of which such discharge, release or reassignment was given or made is subsequently wholly or partially rescinded or avoided by operation of any law.
Appears in 1 contract
Samples: Loan Agreement (DryShips Inc.)
Rescission of payments etc. Any discharge, release or reassignment by a Finance Party of any of the security constituted by, or any of the obligations of a Security Party contained in, a Finance Document shall be (and be deemed always to have been) void if any act (including, without limitation, any payment) as a result of which such discharge, release or reassignment was given or made is subsequently wholly or partially rescinded or avoided by operation of any law.
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Rescission of payments etc. Any discharge, release or reassignment by a Finance Party of any of the security constituted by, or any my of the obligations of a Security Party contained in, a Finance Document shall be (and be deemed always to have been) void if any act (including, without limitation, any payment) as a result of which such discharge, release or reassignment was given or made is subsequently wholly or partially rescinded or avoided by operation of any law.
Appears in 1 contract
Samples: DryShips Inc.
Rescission of payments etc. Any discharge, release or reassignment by a Finance Party of any of the security constituted by, or any of the obligations of a Security Party contained in, a Finance Document shall be (and be deemed always to have been) void if any act (including, without limitation, any payment) as a result of which such discharge, release or reassignment was given or made is subsequently wholly or partially rescinded or avoided by operation of any law.,
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Samples: www.lw.com
Rescission of payments etc. Any discharge, release or reassignment by a Finance Creditor Party of any of the security constituted by, or any of the obligations of a Security Party contained in, a Finance Creditor Document shall be (and be deemed always to have been) void if any act (including, without limitation, any payment) as a result of which such discharge, release or reassignment was given or made is subsequently wholly or partially rescinded or avoided by operation of any law.
Appears in 1 contract
Samples: Loan Agreement (Danaos Corp)
Rescission of payments etc. Any discharge, release or reassignment by a Finance Party of any of the security constituted by, or any of the obligations of a Security Party contained in, a Finance Document shall be (and be deemed always to have been) void if any act (including, without limitation, any payment) as a result of which such discharge, release or reassignment was given or made is subsequently wholly or partially rescinded or avoided by operation of any law.. \P1\3549672.7
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