Common use of Payments Rescinded Clause in Contracts

Payments Rescinded.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

Appears in 4 contracts

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

Payments Rescinded. Any payment by the Borrower or any other Loan Party to the Lenders Lender Parties is held to constitute a preference under any Debtor Relief Lawthe bankruptcy laws, or for any reason the Lenders Lender Parties are required to refund such payment or pay such amount to the Borrower or any other Loan Party or someone elsePerson; or

Appears in 2 contracts

Sources: u.s. Revolving Credit Agreement (Brown Tom Inc /De), Canadian Revolving Credit Agreement (Brown Tom Inc /De)

Payments Rescinded. Any payment by the a Borrower or any other Loan Party to the Lenders Lender Parties is held to constitute a preference under any Debtor Relief Lawthe bankruptcy laws, or for any reason the Lenders Lender Parties are required to refund such payment or pay such amount to the Borrower or any other Loan Party or someone elsePerson; or

Appears in 1 contract

Sources: Canadian Revolving Credit Agreement (Brown Tom Inc /De)