Common use of Payments Rescinded Clause in Contracts

Payments Rescinded. Any payment by Borrower to the Lenders is held to constitute a preference under the bankruptcy laws, or for any reason the Lenders are required to refund such payment or pay such amount to Borrower or someone else; or

Appears in 38 contracts

Sources: Guaranty Agreement (Enterprise Products Partners L.P.), Guaranty Agreement (Enterprise Products Partners L.P.), Guaranty Agreement (Enterprise Products Partners L.P.)

Payments Rescinded. Any payment by the Borrower to the Lenders is held to constitute a preference under the bankruptcy laws, or for any reason the Lenders are required to refund such payment or pay such amount to the Borrower or someone else; or

Appears in 9 contracts

Sources: Credit Agreement (Vantage Drilling International), Credit Agreement (Brigham Exploration Co), Subordinated Credit Agreement (Brigham Exploration Co)

Payments Rescinded. Any payment by the Borrower to the Lenders Bank is held to constitute a preference under the bankruptcy laws, or for any reason the Lenders are Bank is required to refund such payment or pay such amount to the Borrower or someone else; or

Appears in 8 contracts

Sources: Guaranty Agreement (Baron Energy Inc.), Guaranty Agreement (Baron Energy Inc.), Guaranty Agreement (Baron Energy Inc.)

Payments Rescinded. Any payment by either Borrower to the Lenders is held to constitute a preference under the bankruptcy laws, or for any reason the Lenders are required to refund such payment or pay such amount to Borrower the Borrowers or someone else; or

Appears in 4 contracts

Sources: Credit Agreement (MxEnergy Holdings Inc), Credit Agreement (Total Gas & Electricity (PA) Inc), Credit Agreement (MxEnergy Holdings Inc)

Payments Rescinded. Any payment by Borrower to the Lenders is held ------------------ to constitute a preference under the bankruptcy laws, or for any reason the Lenders are required to refund such payment or pay such amount to Borrower or someone else; or.

Appears in 4 contracts

Sources: Guaranty Agreement (St Mary Land & Exploration Co), Guaranty Agreement (St Mary Land & Exploration Co), Guaranty Agreement (St Mary Land & Exploration Co)

Payments Rescinded. Any payment by the Borrower to the Lenders is held to constitute a preference under the bankruptcy lawsany Debtor Relief Law, or for any reason the Lenders are required to refund such payment or pay such amount to the Borrower or someone else; or

Appears in 3 contracts

Sources: Credit Agreement (Willbros Group, Inc.\NEW\), Credit Agreement (Willbros Group, Inc.\NEW\), Credit Agreement (Willbros Group Inc)

Payments Rescinded. Any payment by any Borrower to the Lenders is held to constitute a preference under the bankruptcy laws, or for any reason the Lenders are required to refund such payment or pay such amount to any Borrower or someone else; or

Appears in 3 contracts

Sources: Credit Agreement (Vantage Drilling CO), Credit Agreement (Vantage Drilling CO), Credit Agreement (Vantage Drilling CO)

Payments Rescinded. Any payment by Borrower to the Lenders ------------------ is held to constitute a preference under the bankruptcy laws, or for any reason the Lenders are required to refund such payment or pay such amount to Borrower or someone else; or.

Appears in 3 contracts

Sources: Guaranty Agreement (St Mary Land & Exploration Co), Guaranty Agreement (St Mary Land & Exploration Co), Guaranty Agreement (St Mary Land & Exploration Co)

Payments Rescinded. Any payment by the Borrower to the Lenders is held to constitute a preference under the bankruptcy laws, or for any reason the Agent and the Lenders are required to refund such payment or pay such amount to the Borrower or someone else; or

Appears in 2 contracts

Sources: Guaranty Agreement (Flores & Rucks Inc /De/), Guaranty Agreement (Ocean Energy Inc)

Payments Rescinded. Any payment by Borrower to the Lenders is ------------------ held to constitute a preference under the bankruptcy laws, or for any reason the Lenders are required to refund such payment or pay such amount to Borrower or someone else; or.

Appears in 1 contract

Sources: Credit Agreement (St Mary Land & Exploration Co)

Payments Rescinded. Any payment by any Borrower to the Lenders Lender is held to constitute a preference under the bankruptcy laws, or for any reason the Lenders are Lender is required to refund such payment or pay such amount to either Borrower or someone else; or

Appears in 1 contract

Sources: Credit Agreement (Imperial Resources, LLC)

Payments Rescinded. Any payment by the Borrower to the Lenders Participants is held to constitute a preference under the bankruptcy laws, or for any reason the Lenders Participants are required to refund such payment or pay such amount to the Borrower or someone else; or

Appears in 1 contract

Sources: Credit Agreement (Willbros Group Inc)

Payments Rescinded. Any payment by Borrower to the Lenders is ------------------ held to constitute a preference under the bankruptcy laws, or for any reason the Lenders are required to refund such payment or pay such amount to Borrower or someone else; or

Appears in 1 contract

Sources: Guaranty Agreement (Howell Corp /De/)

Payments Rescinded. Any payment by Borrower Company to the Lenders is held to constitute a preference under the bankruptcy laws, or for any reason the Lenders are required to refund such payment or pay such amount to Borrower Company or someone else; or

Appears in 1 contract

Sources: Guaranty Agreement (Titan Exploration Inc)

Payments Rescinded. Any payment by Borrower to the Lenders Bank is ------------------ held to constitute a preference under the bankruptcy laws, or for any reason the Lenders are Bank is required to refund such payment or pay such amount to Borrower or someone else; or

Appears in 1 contract

Sources: Guaranty Agreement (Wyly Samuel Evans)