Common use of Invalidated Payments Clause in Contracts

Invalidated Payments. To the extent that the Senior Lenders receive payments on, or proceeds of collateral for, the Senior Debt which are subsequently invalidated, declared to be fraudulent or preferential, set aside and/or required to be repaid to a trustee, receiver or any other party under any bankruptcy law, state or federal law, common law, or equitable cause, then, to the extent of such payment or proceeds received, the Senior Debt, or part thereof, intended to be satisfied shall be revived and continue in full force and effect as if such payments or proceeds had not been received by the Senior Lenders.

Appears in 5 contracts

Sources: Credit Agreement (U S Home Corp /De/), Credit Agreement (U S Home Corp /De/), Credit Agreement (U S Home Corp /De/)

Invalidated Payments. To the extent that the Senior Lenders receive Lender receives payments on, or proceeds of collateral Collateral for, the Senior Debt Obligations which are subsequently invalidated, declared to be fraudulent or preferential, set aside and/or required to be repaid to Debtors, a trustee, receiver or any other party under any bankruptcy law, state or federal law, common law, or equitable cause, then, then to the extent of such payment or proceeds received, the Senior DebtObligations, or part thereof, intended to be satisfied shall be revived and continue in full force and effect as if such payments or proceeds had not been received by the Senior LendersLender.

Appears in 4 contracts

Sources: Intercreditor and Subordination Agreement (Industrial Services of America Inc), Intercreditor and Subordination Agreement (Industrial Services of America Inc), Intercreditor and Subordination Agreement (Industrial Services of America Inc)

Invalidated Payments. To the extent that the Senior Lenders receive Lender receives payments on, or proceeds of collateral Collateral for, the Senior Debt Obligations which are subsequently invalidated, declared to be fraudulent or preferential, set aside and/or required to be repaid to Debtors, a trustee, receiver or any other party under any bankruptcy law, state or federal law, common law, or equitable cause, then, then to the extent of such payment or proceeds received, the Senior DebtObligations, or part thereof, intended to be satisfied shall be revived and continue in full force and effect as if such payments or proceeds had not been received by the Senior LendersLender.

Appears in 3 contracts

Sources: Securities Purchase Agreement (Co-Diagnostics, Inc.), Securities Purchase Agreement (Co-Diagnostics, Inc.), Intercreditor and Subordination Agreement (XZERES Corp.)

Invalidated Payments. To the extent that the Senior Lenders receive Lender receives payments on, or proceeds of collateral Collateral for, the Senior Debt Obligations which are subsequently invalidated, declared to be fraudulent or preferential, set aside and/or required to be repaid to Borrower, a trustee, receiver or any other party under any bankruptcy law, state or federal law, common law, or equitable cause, then, then to the extent of such payment or proceeds received, the Senior DebtObligations, or part thereof, intended to be satisfied shall be revived and continue in full force and effect as if such payments or proceeds had not been received by the Senior LendersLender.

Appears in 2 contracts

Sources: Subordination Agreement (Primal Solutions Inc), Subordination Agreement (Primal Solutions Inc)

Invalidated Payments. To the extent that the Senior Lenders receive payments on, or proceeds of collateral Collateral for, the Senior Debt Obligations which are subsequently invalidated, declared to be fraudulent or preferential, set aside and/or required to be repaid to a trustee, receiver or any other party under any bankruptcy law, state or federal law, common law, or equitable cause, then, then to the extent of such payment or proceeds received, the Senior DebtObligations, or part thereof, intended to be satisfied shall be revived and continue in full force and effect as if such payments or proceeds had not been received by the Senior Lenders.

Appears in 2 contracts

Sources: Standstill Agreement (Prison Realty Corp), Intercreditor and Subordination Agreement (Prison Realty Corp)

Invalidated Payments. To the extent that the tat Senior Lenders receive Creditor receives -------------------- payments on, or proceeds of collateral for, the Senior Debt Obligations which are subsequently invalidated, declared to be fraudulent or preferential, set aside and/or required to be repaid to a trustee, receiver or any other party under any bankruptcy law, state or federal law, common law, or equitable cause, then, then to the extent of such payment or proceeds received, the Senior DebtObligations, or part thereof, intended to be satisfied shall be revived and continue in full force and effect as if such payments or proceeds had not been received by the Senior LendersCreditor.

Appears in 1 contract

Sources: Intercreditor and Subordination Agreement (Easyriders Inc)

Invalidated Payments. To the extent that the Senior Lenders Creditors receive payments on, or proceeds of collateral for, the Senior Debt Obligations which are subsequently invalidated, declared to be fraudulent or preferential, set aside and/or required to be repaid to a trustee, receiver or any other party under any bankruptcy law, state or federal law, common law, or equitable cause, then, then to the extent of such payment or proceeds received, the Senior DebtObligations, or part thereof, intended to be satisfied shall be revived and continue in full force and effect as if such payments or proceeds had not been received by the Senior LendersCreditors.

Appears in 1 contract

Sources: Intercreditor and Subordination Agreement (Infogrames Inc)

Invalidated Payments. To the extent that the Senior Lenders receive payments on, or proceeds of collateral for, the Senior Debt which are subsequently invalidated, declared to be fraudulent or preferential, set aside aside, avoided and/or required to be repaid to a trustee, receiver or any other party under any bankruptcy law, state or federal law, common law, or equitable cause, then, to the extent of such payment or proceeds received, the Senior Debt, or part thereof, intended to be satisfied shall be revived and continue in full force and effect as if such payments or proceeds had not been received by the Senior Lenders.

Appears in 1 contract

Sources: Credit Agreement (SCP Pool Corp)