Common use of Avoidance of Payments Clause in Contracts

Avoidance of Payments. If the Security Agent, acting reasonably, considers that any amount paid or credited to it is reasonably likely to be avoided or reduced by virtue of any bankruptcy, insolvency, liquidation or similar laws the liability of the Chargor under this Deed and the security constituted hereby shall continue and such amount shall not be considered to have been irrevocably paid.

Avoidance of Payments. If the Security Agent, acting reasonably, Agent considers in good faith that any amount paid received in payment or credited to it purported payment of the Secured Sums is reasonably likely to be capable of being avoided or reduced by virtue of any insolvency, bankruptcy, insolvency, liquidation or other similar laws laws, the liability of the each Chargor under this Deed Debenture and the security Security constituted hereby by this Debenture shall continue and such amount shall not be considered to have been irrevocably paid.

Avoidance of Payments. If the Security Agent, acting reasonably, Agent considers that any amount paid or credited to it is reasonably likely to be capable of being avoided or reduced by virtue of any bankruptcy, insolvency, liquidation or similar laws the liability of the any Chargor under this Deed and the security constituted hereby shall continue and such amount shall not be considered to have been irrevocably paid.

Avoidance of Payments. ‌ If the Security Agent, acting reasonably, Agent considers that any amount amounts paid or credited to it any Secured Creditor is reasonably likely to be avoided capable of being avoided, reduced or reduced by virtue otherwise set aside as a result of insolvency or any bankruptcysimilar event, insolvency, liquidation or similar laws the liability of the Chargor under this Deed Debenture and the security Security constituted hereby by this Debenture shall continue and such amount shall will not be considered to have been irrevocably paid.