Common use of Payments Set Aside Clause in Contracts

Payments Set Aside. To the extent that the Company makes a payment to the Administrative Agent or the Banks, or the Administrative Agent or the Banks exercise their right of set-off, and such payment or the proceeds of such set-off or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by the Administrative Agent or such Bank in its discretion) to be repaid to a trustee, receiver or any other party, in connection with any Insolvency Proceeding or otherwise, then (a) to the extent of such recovery the obligation or part thereof originally intended to be satisfied shall be revived and continued in full force and effect as if such payment had not been made or such set-off had not occurred, and (b) each Bank severally agrees to pay to the Administrative Agent upon demand its pro rata share of any amount so recovered from or repaid by the Administrative Agent.

Appears in 8 contracts

Sources: Multicurrency Credit Agreement (Briggs & Stratton Corp), Term Loan Agreement (Briggs & Stratton Corp), Credit Agreement (Briggs & Stratton Corp)

Payments Set Aside. (a) To the extent that the Company a Borrower makes a payment to the Administrative Agent or the Banks, or the Administrative Agent or the Banks exercise their right of set-off, and such payment or the proceeds of such set-off or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by the Administrative Agent or such Bank in its discretion) to be repaid to a trustee, receiver or any other party, in connection with any Insolvency Proceeding or otherwise, then (a) to the extent of such recovery recovery, the obligation or part thereof originally intended to be satisfied shall be revived and continued in full force and effect as if such payment had not been made or such set-off had not occurred, occurred and (b) each Bank severally agrees to pay to the Administrative Agent upon demand its pro rata share of any amount so recovered from or repaid by the Administrative Agent.

Appears in 6 contracts

Sources: Credit Agreement (Van Kampen Prime Rate Income Trust), Credit Agreement (Van Kampen Prime Rate Income Trust), Credit Agreement (Van Kampen Prime Rate Income Trust)

Payments Set Aside. To the extent that the Company makes a payment to the Administrative Agent or the BanksLenders, or the Administrative Agent or the Banks Lenders exercise their right of set-off, and such payment or the proceeds of such set-off or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by the Administrative Agent or such Bank Lender in its discretion) to be repaid to a trustee, receiver or any other party, in connection with any Insolvency Proceeding or otherwise, then (a) to the extent of such recovery the obligation or part thereof originally intended to be satisfied shall be revived and continued in full force and effect as if such payment had not been made or such set-off had not occurred, and (b) each Bank Lender severally agrees to pay to the Administrative Agent upon demand its pro rata share of any amount so recovered from or repaid by the Administrative Agent.

Appears in 6 contracts

Sources: Credit Agreement (BreitBurn Energy Partners L.P.), Credit Agreement (BreitBurn Energy Partners L.P.), Credit Agreement (Giant Industries Inc)

Payments Set Aside. To the extent that the Company Borrower makes a payment to the Administrative Agent Agents or the Banks, or the Administrative Agent Agents or the Banks exercise their right of set-off, and such payment or the proceeds of such set-off or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by the Administrative Agent Agents or such Bank in its discretion) to be repaid to a trustee, receiver or any other party, in connection with any Insolvency Proceeding or otherwise, then (a) to the extent of such recovery the obligation or part thereof originally intended to be satisfied shall be revived and continued in full force and effect as if such payment had not been made or such set-off had not occurred, and (b) each Bank severally agrees to pay to each of the Administrative Agent Agents upon demand its pro rata share of any amount so recovered from or repaid by the Administrative AgentAgents.

Appears in 5 contracts

Sources: Credit Agreement (Atmos Energy Corp), Credit Agreement (Atmos Energy Corp), Credit Agreement (Atmos Energy Corp)

Payments Set Aside. To the extent that the Company makes a payment to the Administrative Agent or the BanksLenders, or the Administrative Agent or the Banks Lenders exercise their right of set-off, and such payment or the proceeds of such set-off or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by the Administrative Agent or such Bank Lender in its discretion) to be repaid to a trustee, receiver or any other party, in connection with any Insolvency Proceeding or otherwise, then (a) to the extent of such recovery the obligation or part thereof originally intended to be satisfied shall be revived and continued in full force and effect as if such payment had not been made or such set-off had not occurred, and (b) each Bank Lender severally agrees to pay to the Administrative Agent upon demand its pro rata share Pro Rata Share of any amount so recovered from or repaid by the Administrative Agent.

Appears in 5 contracts

Sources: Debt Agreement (Breitburn Energy Partners LP), Credit Agreement, Credit Agreement (Breitburn Energy Partners LP)

Payments Set Aside. To the extent that the Company makes a payment to the Administrative Agent or the BanksLenders, or the Administrative Agent or the Banks Lenders exercise their right of set-off, and such payment or the proceeds of such set-off or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by the Administrative Agent or such Bank Lender in its discretion) to be repaid to a trustee, receiver or any other party, in connection with any Insolvency Proceeding or otherwise, then (a) to the extent of such recovery the obligation or part thereof originally intended to be satisfied shall be revived and continued in full force and effect as if such payment had not been made or such set-off had not occurred, occurred and (b) each Bank Lender severally agrees to pay to the Administrative Agent upon demand its pro rata share of any amount so recovered from or repaid by the Administrative Agent, which had previously been received by such Lender.

Appears in 4 contracts

Sources: Credit Agreement (Nebco Evans Holding Co), Credit Agreement (Ameriserve Transportation Inc), Credit Agreement (Nebco Evans Holding Co)

Payments Set Aside. To the extent that the Company makes a payment to the Administrative Agent or the BanksLenders, or the Administrative Agent or the Banks exercise their any Lender exercises its right of set-off, and such payment or the proceeds of such set-off or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by the Administrative Agent or such Bank Lender in its discretion) to be repaid to a trustee, a receiver or any other party, in connection with any Insolvency Proceeding or otherwise, then (a) to the extent of such recovery the obligation or part thereof originally intended to be satisfied shall be revived and continued in full force and effect as if such payment had not been made or such set-off had not occurred, occurred and (b) each Bank Lender severally agrees to pay to the Administrative Agent upon demand its pro rata share of any amount so recovered from or repaid by the Administrative Agent.

Appears in 4 contracts

Sources: Credit Agreement (Snyder's-Lance, Inc.), Long Term Credit Agreement (Republic Services Inc), Long Term Credit Agreement (Republic Services Inc)

Payments Set Aside. To the extent that the Company makes a payment to the Administrative Agent or the BanksLenders, or the Administrative Agent or the Banks Lenders exercise their right of set-off, and such payment or the proceeds of such set-off or any part thereof are is subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by the Administrative Agent or such Bank Lender in its discretion) to be repaid to a trusteetrustee or receiver, receiver or any other party, in connection with any Insolvency Proceeding or otherwise, then (a) to the extent of such recovery recovery, the obligation or part thereof originally intended to be satisfied shall be revived and continued in full force and effect as if such payment had not been made or such set-off had not occurred, occurred and (b) each Bank Lender severally agrees to pay to the Administrative Agent upon demand its pro rata share of any amount so recovered from or repaid by the Administrative Agent.

Appears in 4 contracts

Sources: Credit Agreement (Del Monte Foods Co), Credit Agreement (Del Monte Foods Co), Credit Agreement (Del Monte Foods Co)

Payments Set Aside. To the extent that the Company makes a payment to the Administrative Agent or the Banksany Lender, or the Administrative Agent or the Banks exercise their any Lender exercises its right of set-off, and such payment or the proceeds of such set-off or any part thereof are is subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by the Administrative Agent or such Bank Lender in its discretion) to be repaid to a trusteetrustee or receiver, receiver or any other party, in connection with any Insolvency Proceeding or otherwise, then (a) to the extent of such recovery recovery, the obligation or part thereof originally intended to be satisfied shall be revived and continued in full force and effect as if such payment had not been made or such set-off had not occurred, occurred and (b) each Bank Lender severally agrees to pay to the Administrative Agent upon demand its pro rata share of any amount so recovered from or repaid by the Administrative Agent.

Appears in 3 contracts

Sources: Credit Agreement (Compass International Services Corp), Credit Agreement (Rayovac Corp), Credit Agreement (Rayovac Corp)

Payments Set Aside. To the extent that the Company makes a payment to the Administrative Agent or the BanksLenders, or the Administrative Agent or the Banks Lenders exercise their right of set-off, and such payment or the proceeds of such set-off or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by the Administrative Agent or such Bank Lender in its discretion) to be repaid to a trustee, receiver or any other party, in connection with any Insolvency Proceeding or otherwise, then (a) to the extent of such recovery the obligation or part thereof originally intended to be satisfied shall be revived and continued in full force and effect as if such payment had not been made or such set-off had not occurred, and (b) each Bank Lender severally agrees to pay to the Administrative Agent upon demand its pro rata share of any amount so recovered from or repaid by the Administrative Agent.

Appears in 3 contracts

Sources: Revolving Credit Agreement (Commercial Metals Co), 364 Day Revolving Credit Agreement (Commercial Metals Co), 364 Day Revolving Credit Agreement (Commercial Metals Co)

Payments Set Aside. To the extent that the Company Borrower makes a payment to the Administrative Agent or the Banks, or the Administrative Agent or the Banks exercise their right rights of set-off, and such payment or the proceeds of such set-off or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by the Administrative Agent or such Bank in its discretion) to be repaid to a trustee, receiver or any other party, in connection with any Insolvency Proceeding or otherwise, then (a) to the extent permitted by law and to the extent of such recovery the obligation or part thereof originally intended to be satisfied shall be revived and continued in full force and effect as if such payment had not been made or such set-off had not occurred, and (b) each Bank severally agrees to pay to the Administrative Agent upon demand its pro rata share Pro Rata Share of any amount so recovered from or repaid by the Administrative Agent.

Appears in 3 contracts

Sources: Credit Agreement (Cinco Resources, Inc.), Senior Secured Revolving Credit Agreement (Stroud Energy Inc), Credit Agreement (Quest Resource Corp)

Payments Set Aside. To the extent that the Company Borrower makes a payment to the Administrative Agent or the Banks, or the Administrative Agent or the Banks exercise their right of set-off, and such payment or the proceeds of such set-off or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by the Administrative Agent or such Bank in its discretion) to be repaid to a trustee, receiver or any other party, in connection with any Insolvency Proceeding or otherwise, then (a) to the extent of such recovery the obligation or part thereof originally intended to be satisfied shall be revived and continued in full force and effect as if such payment had not been made or such set-off had not occurred, and (b) each Bank severally agrees to pay to the Administrative Agent upon demand its pro rata share of any amount so recovered from or repaid by the Administrative Agent.

Appears in 3 contracts

Sources: Short Term Revolving Credit Agreement (Ferrellgas Partners Finance Corp), Credit Agreement (Ferrellgas Partners Finance Corp), Credit Agreement (Ferrellgas Partners Finance Corp)

Payments Set Aside. To the extent that the Company makes a payment to the Administrative Agent or the BanksLenders, or the Administrative Agent or the Banks Lenders exercise their right of set-off, and such payment or the proceeds of such set-off or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by the Administrative Agent or such Bank Lender in its discretion) to be repaid to a trustee, receiver or any other party, in connection with any Insolvency Proceeding insolvency proceeding or otherwise, then (a) to the extent of such recovery the obligation or part thereof originally intended to be satisfied shall be revived and continued in full force and effect as if such payment had not been made or such set-off had not occurred, and (b) each Bank Lender severally agrees to pay to the Administrative Agent upon demand its pro rata share of any amount so recovered from or repaid by the Administrative Agent.

Appears in 3 contracts

Sources: Credit Agreement (American Italian Pasta Co), Credit Agreement (American Italian Pasta Co), Credit Agreement (American Italian Pasta Co)

Payments Set Aside. To the extent that the Company a Borrower makes a payment to the Administrative Agents or the Lenders, or either Agent or the Banks, or the Administrative Agent or the Banks exercise their any Lender exercises its right of set-off, and such payment or the proceeds of such set-off or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by the Administrative such Agent or such Bank Lender in its discretion) to be repaid to a trustee, a receiver or any other party, in connection with any Insolvency Proceeding or otherwise, then (a) to the extent of such recovery the obligation or part thereof originally intended to be satisfied shall be revived and continued in full force and effect as if such payment had not been made or such set-off had not occurred, occurred and (b) each Bank Lender severally agrees to pay to the Administrative applicable Agent upon demand its pro rata share of any amount so recovered from or repaid by the Administrative such Agent.

Appears in 3 contracts

Sources: Credit Agreement (Lance Inc), Credit Agreement (Lance Inc), Credit Agreement (Lance Inc)

Payments Set Aside. To the extent that the Company Borrower makes a payment to the Administrative Agent or the Banks, or the Administrative Agent or the Banks exercise their right rights of set-set off, and such payment or the proceeds of such set-set off or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by the Administrative Agent or such Bank in its discretion) to be repaid to a trustee, receiver or any other party, in connection with any Insolvency Proceeding or otherwise, then (a) to the extent permitted by law and to the extent of such recovery the obligation or part thereof originally intended to be satisfied shall be revived and continued in full force and effect as if such payment had not been made or such set-set off had not occurred, and (b) each Bank severally agrees to pay to the Administrative Agent upon demand its pro rata share Pro Rata Share of any amount so recovered from or repaid by the Administrative Agent.

Appears in 2 contracts

Sources: Credit Agreement (Stroud Energy Inc), Credit Agreement (Stroud Energy Inc)

Payments Set Aside. To the extent that the Company a Borrower makes a payment to the Administrative Agent or the Banksa Lender, or the Administrative Agent or the Banks exercise their a Lender exercises its right of set-off, and such payment or the proceeds of such set-off or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by the Administrative Agent or such Bank Lender in its discretion) to be repaid to a trusteetrustee or receiver, receiver or any other party, in connection with any Insolvency Proceeding or otherwise, then (a) to the extent of such recovery the obligation or part thereof originally intended to be satisfied shall be revived and continued in full force and effect as if such payment had not been made or such set-off had not occurred, occurred and (b) each Bank Lender severally agrees to pay to the Administrative Agent upon demand its pro rata share of any amount so recovered from or repaid by the Administrative Agent.

Appears in 2 contracts

Sources: Credit Agreement (Smith a O Corp), Credit Agreement (Smith a O Corp)

Payments Set Aside. To the extent that the Company ------------------ makes a payment to the Administrative Agent or the BanksLenders, or the Administrative Agent or the Banks exercise their any Lender exercises its right of set-off, and such payment or the proceeds of such set-off or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by the Administrative Agent or such Bank Lender in its discretion) to be repaid to a trustee, a receiver or any other party, in connection with any Insolvency Proceeding or otherwise, then (a) to the extent of such recovery the obligation or part thereof originally intended to be satisfied shall be revived and continued in full force and effect as if such payment had not been made or such set-off had not occurred, occurred and (b) each Bank Lender severally agrees to pay to the Administrative Agent upon demand its pro rata share of any amount so recovered from or repaid by the Administrative Agent.

Appears in 2 contracts

Sources: Credit Agreement (Earthgrains Co /De/), Credit Agreement (Earthgrains Co /De/)

Payments Set Aside. To the extent that the Company makes a payment to the Administrative Agent or the BanksLenders, or the Administrative Agent or the Banks exercise their any Lender exercises its right of set-off, and such payment or the proceeds of such set-off or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by the Administrative Agent or such Bank Lender in its discretion) discretion to be repaid to a trustee, a receiver or any other party, in connection with any Insolvency Proceeding or otherwise, then (a) a to the extent of such recovery the obligation or part thereof originally intended to be satisfied shall be revived and continued in full force and effect as if such payment had not been made or such set-off had not occurred, occurred and (b) b each Bank Lender severally agrees to pay to the Administrative Agent upon demand its pro rata share of any amount so recovered from or repaid by the Administrative Agent.

Appears in 2 contracts

Sources: Short Term Credit Agreement (Tenneco Packaging Inc), Long Term Credit Agreement (Tenneco Packaging Inc)

Payments Set Aside. To the extent that the Company a Borrower makes a payment to the Administrative Agent or the BanksLenders, or the Administrative Agent or the Banks Lenders exercise their right of set-off, and such payment or the proceeds of such set-off or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by the Administrative Agent or such Bank Lender in its discretion) to be repaid to a trustee, receiver or any other party, in connection with any Insolvency Proceeding or otherwise, then (a) to the extent of such recovery the obligation or part thereof originally intended to be satisfied shall be revived and continued in full force and effect as if such payment had not been made or such set-off had not occurred, and (b) each Bank Lender severally agrees to pay to the Administrative Agent upon demand its pro rata share of any amount so recovered from or repaid by the Administrative Agent.

Appears in 2 contracts

Sources: Credit Agreement (Macdermid Inc), Multicurrency Credit Agreement (Macdermid Inc)

Payments Set Aside. To the extent that the Company a Borrower makes a payment to ------------------ the Administrative Agent or the Banks, or the Administrative Agent or the Banks exercise their right of set-off, and such payment or the proceeds of such set-set- off or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by the Administrative Agent or such Bank in its discretion) to be repaid to a trustee, receiver or any other party, in connection with any Insolvency Proceeding or otherwise, then (a) to the extent of such recovery the obligation or part thereof originally intended to be satisfied shall be revived and continued in full force and effect as if such payment had not been made or such set-off had not occurred, and (b) each Bank severally agrees to pay to the Administrative Agent upon demand its pro rata share of any amount so recovered from or repaid by the Administrative Agent.

Appears in 2 contracts

Sources: Credit Agreement (Applied Power Inc), Multicurrency Credit Agreement (Applied Power Inc)

Payments Set Aside. To the extent that the Company a Loan Party makes a payment to the Administrative Agent or the Banksany Lender, or the Administrative Agent or the Banks exercise their any Lender exercises its right of set-off, and such payment or the proceeds of such set-off or any part thereof are is subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by the Administrative Agent or such Bank Lender in its discretion) to be repaid to a trustee, receiver, receiver manager or any other party, in connection with any Insolvency Proceeding or otherwise, then (a) to the extent of such recovery the obligation or part thereof originally intended to be satisfied shall be revived and continued in full force and effect as if such payment had not been made or such set-off had not occurred, occurred and (b) each Bank Lender severally agrees to pay to the such Administrative Agent upon demand its pro rata share of any amount so recovered from or repaid by the such Administrative Agent.

Appears in 1 contract

Sources: Senior Secured Credit Agreement (Greif Brothers Corp)

Payments Set Aside. To the extent that the Company makes a ------------------- payment to the Administrative Agent or the Banks, or the Administrative Agent or the Banks exercise their right of set-off, and such payment or the proceeds of such set-off or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by the Administrative Agent or such Bank in its discretion) to be repaid to a trustee, receiver or any other party, in connection with any Insolvency Proceeding or otherwise, then (a) to the extent of such recovery the obligation or part thereof originally intended to be satisfied shall be revived and continued in full force and effect as if such payment had not been made or such set-off had not occurred, and (b) each Bank severally agrees to pay to the Administrative Agent upon demand its pro rata share of any amount so recovered from or repaid by the Administrative Agent.

Appears in 1 contract

Sources: Credit Agreement (McKesson Hboc Inc)

Payments Set Aside. To the extent that the Company Borrower makes a payment to the Administrative Agent or the BanksLenders, or the Administrative Agent or the Banks Lenders exercise their right of set-off, and such payment or the proceeds of such set-off or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by the Administrative Agent or such Bank Lender in its discretion) to be repaid to a trustee, receiver or any other party, in connection with any Insolvency Proceeding bankruptcy or other insolvency proceeding or otherwise, then (a) to the extent of such recovery the obligation or part thereof originally intended to be satisfied shall be revived and continued in full force and effect as if such payment had not been made or such set-off had not occurred, and (b) each Bank Lender severally agrees to pay to the Administrative Agent upon demand its pro rata share of any amount so recovered from or repaid by the Administrative Agent.

Appears in 1 contract

Sources: Credit Agreement (Renaissancere Holdings LTD)

Payments Set Aside. To the extent that the Company makes a payment to the Administrative any Agent or the Banksany Lender, or the Administrative any Agent or the Banks exercise their any Lender exercises its right of set-off, and such payment or the proceeds of such set-off or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by the Administrative such Agent or such Bank Lender in its discretion) to be repaid to a trustee, receiver or any other party, in connection with any Insolvency Proceeding or otherwise, then (a) to the extent of such recovery the obligation or part thereof originally intended to be satisfied shall be revived and continued in full force and effect as if such payment had not been made or such set-off had not occurred, occurred and (b) each Bank Lender severally agrees to pay to the Administrative Agent upon demand its pro rata share of any amount so recovered from or repaid by the Administrative Agent.

Appears in 1 contract

Sources: Credit Agreement (International Multifoods Corp)

Payments Set Aside. To the extent that the Company makes Co-Borrowers make a payment to the Administrative Agent or the Banks, or the Administrative Agent or the Banks exercise their right of set-off, and such payment or the proceeds of such set-off or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by the Administrative Agent or such Bank in its discretion) to be repaid to a trustee, receiver or any other party, in connection with any Insolvency Proceeding or otherwise, then (a) to the extent of such recovery the obligation or part thereof originally intended to be satisfied shall be revived and continued in full force and effect as if such payment had not been made or such set-off had not occurred, and (b) each Bank severally agrees to pay to the Administrative Agent upon demand its pro rata share of any amount so recovered from or repaid by the Administrative Agent.

Appears in 1 contract

Sources: Credit Agreement (Avista Corp)

Payments Set Aside. To the extent that any of the Company Loan Parties makes a payment to the Administrative Agent or the Banks, or the Administrative Agent or the Banks exercise their right of set-off, and such payment or the proceeds of such set-off or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by the Administrative Agent or such Bank in its discretion) to be repaid to a trustee, receiver or any other party, in connection with any Insolvency Proceeding or otherwise, then (a) to the extent of such recovery the obligation or part thereof originally intended to be satisfied shall be revived and continued in full force and effect as if such payment had not been made or such set-off had not occurred, and (b) each Bank severally agrees to pay to the Administrative Agent upon demand its pro rata share of any amount so recovered from or repaid by the Administrative Agent.

Appears in 1 contract

Sources: Credit Agreement (Mail Well Inc)

Payments Set Aside. To the extent that the Company makes a payment to the Administrative Agent or the BanksLenders, or the Administrative Agent or the Banks Lenders exercise their right of set-off, and such payment or the proceeds of such set-off or any part thereof are is subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by the Administrative Agent or such Bank Lender in its discretion) to be repaid to a trusteetrustee or receiver, receiver or any other party, in connection with any 148 Insolvency Proceeding or otherwise, then (a) to the extent of such recovery recovery, the obligation or part thereof originally intended to be satisfied shall be revived and continued in full force and effect as if such payment had not been made or such set-off had not occurred, occurred and (b) each Bank Lender severally agrees to pay to the Administrative Agent upon demand its pro rata share of any amount so recovered from or repaid by the Administrative Agent.

Appears in 1 contract

Sources: Credit Agreement (Del Monte Foods Co)

Payments Set Aside. To the extent that the Company makes a payment to the Administrative Agent or the Banksany Lender, or the Administrative Agent or the Banks exercise their any Lender exercises its right of set-off, and such payment or the proceeds of such set-off or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by the Administrative Agent or such Bank Lender in its discretion) to be repaid to a trusteetrustee or receiver, receiver or any other party, in connection with any Insolvency Proceeding or otherwise, then (a) to the extent of such recovery the obligation or part thereof originally intended to be satisfied shall be revived and continued in full force and effect as if such payment had not been made or such set-off had not occurred, occurred and (b) each Bank Lender severally agrees to pay to the Administrative Agent upon demand its pro rata share of any amount so recovered from or repaid by the Administrative Agent.

Appears in 1 contract

Sources: Credit Agreement (Smith a O Corp)

Payments Set Aside. To the extent that the Company ------------------ Borrower makes a payment to the Administrative Agent or the BanksLenders, or the Administrative Agent or the Banks Lenders exercise their right of set-off, and such payment or the proceeds of such set-off or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by the Administrative Agent or such Bank Lender in its discretion) to be repaid to a trustee, receiver or any other party, in connection with any Insolvency Proceeding or otherwise, then (a) to the extent of such recovery the obligation or part thereof originally intended to be satisfied shall be revived and continued in full force and effect as if such payment had not been made or such set-off had not occurred, and (b) each Bank Lender severally agrees to pay to the Administrative Agent upon demand its pro rata share of any amount so recovered from or repaid by the Administrative Agent.

Appears in 1 contract

Sources: Credit Agreement (Renaissancere Holdings LTD)

Payments Set Aside. To the extent that the Company Fund makes a payment to the Administrative Agent or the Banks, or the Administrative Agent or the Banks exercise their right of set-offsetoff, and such payment or the proceeds of such set-off setoff or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by the Administrative Agent or such Bank in its discretion) to be repaid to a trustee, receiver or any other party, in connection with any Insolvency Proceeding or otherwise, then (a) to the extent of such recovery recovery, the obligation or part thereof originally intended to be satisfied shall be revived and continued in full force and effect as if such payment had not been made or such set-off setoff had not occurred, occurred and (b) each Bank severally agrees to pay to the Administrative Agent upon demand its pro rata share of any amount so recovered from or repaid by the Administrative Agent.

Appears in 1 contract

Sources: Credit Agreement (Liberty Floating Rate Advantage Fund)

Payments Set Aside. To the extent that the Company a Borrower makes a payment to the Administrative Agent or the Banksany Lender, or the Administrative Agent or the Banks exercise their any Lender exercises its right of set-off, and such payment or the proceeds of such set-set- off or any part thereof are is subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by the Administrative Agent or such Bank Lender in its discretion) to be repaid to a trustee, receiver or any other party, in connection with any Insolvency Proceeding or otherwise, then (a) to the extent of such recovery the obligation or part thereof originally intended to be satisfied shall be revived and continued in full force and effect as if such payment had not been made or such set-off had not occurred, occurred and (b) each Bank Lender severally agrees to pay to the Administrative Agent upon demand its pro rata share of any amount so recovered from or repaid by the Administrative Agent.

Appears in 1 contract

Sources: Credit Agreement (Mettler Toledo Holding Inc)

Payments Set Aside. To the extent that the Company makes a ------------------ payment to the Administrative Agent or the BanksLenders, or the Administrative Agent or the Banks exercise their any Lender exercises its right of set-off, and such payment or the proceeds of such set-off or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by the Administrative Agent or such Bank Lender in its discretion) to be repaid to a trustee, a receiver or any other party, in connection with any Insolvency Proceeding or otherwise, then (a) to the extent of such recovery the obligation or part thereof originally intended to be satisfied shall be revived and continued in full force and effect as if such payment had not been made or such set-off had not occurred, occurred and (b) each Bank Lender severally agrees to pay to the Administrative Agent upon demand its pro rata share of any amount so recovered from or repaid by the Administrative Agent.

Appears in 1 contract

Sources: Credit Agreement (Earthgrains Co /De/)

Payments Set Aside. To the extent that the Company Borrower makes a ------------------ payment to the Administrative Agent or the Banks, or the Administrative Agent or the Banks exercise their right of set-offsetoff, and such payment or the proceeds of such set-off or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by the Administrative Agent or such Bank in its discretion) to be repaid to a trustee, receiver or any other party, in connection with any Insolvency Proceeding or otherwise, then (a) to the extent of such recovery the obligation or part thereof originally intended to be satisfied shall be revived and continued in full force and effect as if such payment had not been made or such set-off had not occurred, and (b) each Bank severally agrees to pay to the Administrative Agent upon demand its pro rata share of any amount so recovered from or repaid by the Administrative Agent.

Appears in 1 contract

Sources: Credit Agreement (U S Rentals Inc)

Payments Set Aside. To the extent that the Company makes Borrowers make a payment to the Administrative Agent or the BanksLenders, or the Administrative Agent or the Banks Lenders exercise their right of set-off, and such payment or the proceeds of such set-off or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by the Administrative Agent or such Bank Lender in its discretion) to be repaid to a trustee, receiver or any other party, in connection with any Insolvency Proceeding insolvency proceeding or otherwise, then (a) to the extent of such recovery the obligation or part thereof originally intended to be satisfied shall be revived and continued in full force and effect as if such payment had not been made or such set-off had not occurred, and (b) each Bank Lender severally agrees to pay to the Administrative Agent upon demand its pro rata share of any amount so recovered from or repaid by the Administrative Agent.

Appears in 1 contract

Sources: Credit Agreement (DST Systems Inc)

Payments Set Aside. To the extent that the Company Borrower makes a payment to the Administrative Agent or the Banks, or the Administrative Agent or the Banks exercise their right of set-off, and such payment or the proceeds of such set-off or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by the Administrative Agent or such Bank in its discretion) to be repaid to a trustee, receiver or any other party, in connection with any Insolvency Proceeding or otherwise, then (a) to the extent of such recovery the obligation or part thereof originally intended to be satisfied shall be revived and continued in full force and effect as if such payment had not been made or such set-off had not occurred, and (b) each Bank severally agrees to pay to the Administrative Agent upon demand its pro rata share Pro Rata Share of any amount so recovered from or repaid by the Administrative Agent.

Appears in 1 contract

Sources: Credit Agreement (Montgomery Ward Holding Corp)

Payments Set Aside. To the extent that the Company any Borrower makes a payment ------------------ to the Administrative Agent or the Banks, or the Administrative Agent or the Banks exercise their right of set-offsetoff, and such payment or the proceeds of such set-off setoff or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by the Administrative Agent or such Bank in its discretion) to be repaid to a trustee, receiver or any other party, in connection with any Insolvency Proceeding or otherwise, then (a) to the extent of such recovery the obligation or part thereof originally intended to be satisfied shall be revived and continued in full force and effect as if such payment had not been made or such set-off setoff had not occurred, and (b) each Bank severally agrees to pay to the Administrative Agent upon demand its pro rata or other applicable share of any amount so recovered from or repaid by the Administrative Agent.

Appears in 1 contract

Sources: Credit Agreement (Jacobs Engineering Group Inc /De/)

Payments Set Aside. To the extent that the Company Borrower makes a payment to the Administrative Agent or the BanksLenders, or the Administrative Agent or the Banks Lenders exercise their right of set-off, and such payment or the proceeds of such set-off or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by the Administrative Agent or such Bank Lender in its discretion) to be repaid to a trustee, receiver or any other party, in connection with any Insolvency Proceeding or otherwise, then (a) to the extent of such recovery the obligation or part thereof originally intended to be satisfied shall be revived and continued in full force and effect as if such payment had not been made or such set-off had not occurred, and (b) each Bank Lender severally agrees to pay to the Administrative Agent upon demand its pro rata share of any amount so recovered from or repaid by the Administrative Agent.

Appears in 1 contract

Sources: Term Loan Agreement (Apw LTD)

Payments Set Aside. To the extent that the Company makes a payment to the Administrative Agent or the BanksLenders, or the Administrative Agent or the Banks Lenders exercise their right of set-off, and such payment or the proceeds of such set-off or any part thereof are is subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by the Administrative Agent or such Bank Lender in its discretion) to be repaid to a trusteetrustee or receiver, receiver or any other party, in connection with any Insolvency Proceeding or otherwise, then (a) to the extent of such recovery the obligation or part thereof originally intended to be satisfied shall be revived and continued in full force and effect as if such payment had not been made or such set-off had not occurred, occurred and (b) each Bank Lender severally agrees to pay to the Administrative Agent upon demand its pro rata share of any amount so recovered from or repaid by the Administrative Agent.

Appears in 1 contract

Sources: Credit Agreement (American Disposal Services Inc)

Payments Set Aside. To the extent that the Company makes a payment to the Administrative Agent or the Banks, or the Administrative Agent or the Banks exercise their right of set-off, and such payment or the proceeds of such set-off or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by the Administrative Agent or such Bank in its discretion) to be repaid to a trustee, receiver or any other party, in connection with any Insolvency Proceeding or otherwise, then (a) to the extent of such recovery the obligation or part thereof originally intended to be satisfied shall be revived and continued in full force and effect as if such payment had not been made or such set-off had not occurredoccurred (provided that no interest shall accrue during the period such payment was held by the Administrative Agent or the Banks), and (b) each Bank severally agrees to pay to the Administrative Agent upon demand its pro rata share of any amount so recovered from or repaid by the Administrative Agent.

Appears in 1 contract

Sources: Credit Agreement (Kerkorian Kirk)

Payments Set Aside. To the extent that the Company makes a payment or payments to the Administrative Agent or the Banks, or the Administrative Agent or the Banks exercise their right rights of set-off, and such payment or payments or the proceeds of such set-off or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by the Administrative Agent or such Bank in its discretionwith the consent of the Majority Banks) to be repaid to a trustee, receiver or any other party, party in connection with any Insolvency Proceeding Proceeding, or otherwise, then (a) to the extent of such recovery the obligation or part thereof originally intended to be satisfied shall be revived and continued in full force and effect as if such payment had not been made or such enforcement or set-off had not occurred, and (b) each Bank severally agrees to pay to the Administrative Agent upon demand its pro rata ratable share of any the total amount so recovered from or repaid by the Administrative Agent.

Appears in 1 contract

Sources: Subordinated Term Loan Agreement (Wellpoint Health Networks Inc /Ca/)

Payments Set Aside. To the extent that the Company makes a payment to the Administrative Agent or the BanksLenders, or the Administrative Agent or the Banks Lenders exercise their right of set-off, and such payment or the proceeds of such set-off or any part thereof are is subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by the Administrative Agent or such Bank Lender in its discretion) to be repaid to a trusteetrustee or receiver, receiver or any other party, in connection with any Insolvency Proceeding or otherwise, then (a) to the extent of such recovery recovery, the obligation or part 108 thereof originally intended to be satisfied shall be revived and continued in full force and effect as if such payment had not been made or such set-off had not occurred, occurred and (b) each Bank Lender severally agrees to pay to the Administrative Agent upon demand its pro rata share of any amount so recovered from or repaid by the Administrative Agent.

Appears in 1 contract

Sources: Credit Agreement (Del Monte Foods Co)

Payments Set Aside. To the extent that the Company makes a payment to the Administrative Agent or the Banks, or the Administrative Agent or the Banks exercise their right of set-off, and such payment or the proceeds of such set-off or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by the Administrative Agent or such Bank in its discretion) to be repaid to a trustee, receiver or any other party, in connection with any Insolvency Proceeding or otherwise, then (a) to the extent of such recovery the obligation or part thereof originally intended to be satisfied shall be revived and continued in full force and effect as if such payment had not been made or such set-off had not occurred, and (b) each Bank severally agrees to pay to the Administrative Agent upon demand its pro rata share of any amount so recovered from or repaid by the Administrative Agent.demand

Appears in 1 contract

Sources: Credit Agreement (Citgo Petroleum Corp)

Payments Set Aside. To the extent that the Company Borrower makes a payment to the Administrative Agent or the Banks, or the Administrative Agent or the Banks exercise their right of set-off, and such payment or the proceeds of such set-off or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by the Administrative Agent or such Bank in its discretion) to be repaid to a trustee, receiver or any other party, in connection with any Insolvency Proceeding or 77 otherwise, then (a) to the extent of such recovery the obligation or part thereof originally intended to be satisfied shall be revived and continued in full force and effect as if such payment had not been made or such set-off had not occurred, and (b) each Bank severally agrees to pay to the Administrative Agent upon demand its pro rata share of any amount so recovered from or repaid by the Administrative Agent.

Appears in 1 contract

Sources: Multicurrency Credit Agreement (Apw LTD)

Payments Set Aside. To the extent that the Company or any Guarantor makes a payment to the Administrative Agent or the BanksLenders, or the Administrative Agent or the Banks Lenders exercise their right of set-off, and such payment or the proceeds of such set-off or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by the Administrative Agent or such Bank Lender in its discretion) to be repaid to a trustee, receiver or any other party, in connection with any Insolvency Proceeding or otherwise, then (a) to the extent of such recovery the obligation or part thereof originally intended to be satisfied shall be revived and continued in full force and effect as if such payment had not been made or such set-off had not occurred, and (b) each Bank Lender severally agrees to pay to the Administrative Agent upon demand its pro rata share of any amount so recovered from or repaid by the Administrative Agent.

Appears in 1 contract

Sources: Credit Agreement (Ivanhoe Energy Inc)

Payments Set Aside. To the extent that the Company Parent makes a payment to the Administrative Agent or the Banks, or the Administrative Agent or the Banks exercise their right of set-off, and such payment or the proceeds of such set-off or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by the Administrative Agent or such Bank in its discretion) to be repaid to a trustee, receiver or any other party, in connection with any Insolvency Proceeding or otherwise, then (a) to the extent of such recovery the obligation or part thereof originally intended to be satisfied shall be revived and continued in full force and effect as if such payment had not been made or such set-off had not occurred, and (b) each Bank severally agrees to pay to the Administrative Agent upon demand its pro rata share of any amount so recovered from or repaid by the Administrative Agent.

Appears in 1 contract

Sources: Credit Agreement (Phoenix Companies Inc/De)

Payments Set Aside. To the extent that the Company Company, any Borrower or any Guarantor makes a payment to the Administrative Agent or the Banks, or the Administrative Agent or the Banks exercise their right of set-off, and such payment or the proceeds of such set-off or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by the Administrative Agent or such Bank in its discretion) to be repaid to a trustee, receiver or any other party, in connection with any Insolvency Proceeding or otherwise, then (a) to the extent of such recovery the obligation or part thereof originally intended to be satisfied shall be revived and continued in full force and effect as if such payment had not been made or such set-off had not occurred, and (b) each Bank severally agrees to pay to the Administrative Agent upon demand its pro rata share Pro Rata Share of any amount so recovered from or repaid by the Administrative Agent.

Appears in 1 contract

Sources: Credit Agreement (Weatherford Enterra Inc)

Payments Set Aside. To the extent that the Company a Borrower makes a payment to the Administrative Agent or the BanksLenders, or the Administrative Agent or the Banks Lenders exercise their right of set-off, and such payment or the proceeds of such set-off or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by the Administrative Agent or such Bank Lender in its discretion) to be repaid to a trustee, receiver or any other party, in connection with any Insolvency Proceeding or otherwise, then (a) to the extent of such recovery the obligation or part thereof originally intended to be satisfied shall be revived and continued in full force and effect as if such payment had not been made or such set-off had not occurred, and (b) each Bank Lender severally agrees to pay to the Administrative Agent upon demand its pro rata share Pro Rata Share of any amount so recovered from or repaid by the Administrative Agent.

Appears in 1 contract

Sources: Credit Agreement (Briggs & Stratton Corp)

Payments Set Aside. To the extent that the Company Borrower makes a payment to the Administrative Agent or the BanksLenders, or the Administrative Agent or the Banks Lenders exercise their right rights of set-off, and such payment or the proceeds of such set-off or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by the Administrative Agent or such Bank Lender in its discretion) to be repaid to a trustee, receiver or any other party, in connection with any Insolvency Proceeding or otherwise, then (a) to the extent permitted by law and to the extent of such recovery the obligation or part thereof originally intended to be satisfied shall be revived and continued in full force and effect as if such payment had not been made or such set-off had not occurred, and (b) each Bank Lender severally agrees to pay to the Administrative Agent upon demand its pro rata share Pro Rata Share of any amount so recovered from or repaid by the Administrative Agent.

Appears in 1 contract

Sources: Credit Agreement (Cinco Resources, Inc.)

Payments Set Aside. To the extent that the Company any Borrower makes a payment to the Administrative Agent or the Banksany Lender, or the Administrative Agent or the Banks exercise their any Lender exercises its right of set-off, and such payment or the proceeds of such set-off or any part thereof are is subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by the Administrative Agent or such Bank Lender in its discretion) to be repaid to a trustee, receiver or any other party, in connection with any Insolvency Proceeding or otherwise, then (a) to the extent of such recovery the obligation or part thereof originally intended to be satisfied shall be revived and continued in full force and effect as if such payment had not been made or such set-off had not occurred, occurred and (b) each Bank Lender severally agrees to pay to the Administrative Agent upon demand its pro rata share of any amount so recovered from or repaid by the Administrative Agent.

Appears in 1 contract

Sources: Short Term Credit Agreement (Culligan Water Technologies Inc)

Payments Set Aside. To the extent that the Company Borrower makes a payment ------------------ to the Administrative Agent or the Banks, or the Administrative Agent or the Banks exercise their right of set-off, and such payment or the proceeds of such set-off or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by the Administrative Agent or such Bank in its discretion) to be repaid to a trustee, receiver or any other party, in connection with any Insolvency Proceeding or otherwise, then (a) to the extent of such recovery the obligation or part thereof originally intended to be satisfied shall be revived and continued in full force and effect as if such payment had not been made or such set-off had not occurred, and (b) each Bank severally agrees to pay to the Administrative Agent upon demand its pro rata share of any amount so recovered from or repaid by the Administrative Agent.

Appears in 1 contract

Sources: Multicurrency Credit Agreement (Apw LTD)

Payments Set Aside. To the extent that the Company any Borrower makes a payment ------------------ to the Administrative Agent or the Banksany Lender, or the Administrative Agent or the Banks exercise their any Lender exercises its right of set-off, and such payment or the proceeds of such set-off or any part thereof are is subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by the Administrative Agent or such Bank Lender in its discretion) to be repaid to a trustee, receiver or any other party, in connection with any Insolvency Proceeding or otherwise, then (a) to the extent of such recovery the obligation or part thereof originally intended to be satisfied shall be revived and continued in full force and effect as if such payment had not been made or such set-off had not occurred, occurred and (b) each Bank Lender severally agrees to pay to the Administrative Agent upon demand its pro rata share of any amount so recovered from or repaid by the Administrative Agent.

Appears in 1 contract

Sources: Credit Agreement (Culligan Water Technologies Inc)

Payments Set Aside. To the extent that the Company or the Guarantor makes a payment to the Administrative Agent or the Banks, or the Administrative Agent or the Banks exercise their right of set-off, and such payment or the proceeds of such set-off or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by the Administrative Agent or such Bank in its discretion) to be repaid to a trustee, receiver or any other party, in connection with any Insolvency Proceeding or otherwise, then (a) to the extent of such recovery the obligation or part thereof originally intended to be satisfied shall be revived and continued in full force and effect as if such payment had not been made or such set-off had not occurred, and (b) each Bank severally agrees to pay to the Administrative Agent upon demand its pro rata share of any amount so recovered from or repaid by the Administrative Agent.

Appears in 1 contract

Sources: Credit Agreement (Phoenix Companies Inc/De)

Payments Set Aside. To the extent that any of the Company Loan Parties makes a payment to the Administrative Agent or the Banks, or the Administrative Agent or the Banks exercise their right of set-off, and such payment or the proceeds of such set-off or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by the Administrative Agent or such Bank in its discretion) to be repaid to a trustee, receiver or any other party, in connection with any Insolvency Proceeding or otherwise, then (a) to the extent of such recovery the obligation or part thereof originally intended to be satisfied shall be revived and continued in full force and effect as if such payment had not been made or such set-off had not occurred, and (b) each Bank severally agrees to pay to the Administrative Agent upon demand its pro rata share of any amount so recovered from or repaid by the Administrative Agent.upon

Appears in 1 contract

Sources: Credit Agreement (Mail Well Inc)

Payments Set Aside. To the extent that the Company makes a payment to the Administrative Agent or the Banks, or the Administrative Agent or the Banks exercise their right of set-off, and such payment or the proceeds of such set-off or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by the Administrative Agent or such Bank in its discretion) to be repaid to a trustee, receiver or any other party, in connection with any Insolvency Proceeding or otherwise, then (a) to the extent of such recovery the obligation or part thereof originally intended to be satisfied shall be revived and continued in full force and effect as if such payment had not been made or such set-off had not occurred, and (b) each Bank severally agrees to pay to the Administrative Agent upon demand its pro rata share of any amount so recovered from or repaid by the Administrative AgentAgent to the extent such amount had been previously paid to such Bank.

Appears in 1 contract

Sources: Credit Agreement (Citgo Petroleum Corp)

Payments Set Aside. To the extent that the Company a Borrower makes a payment to ------------------ the Administrative Agent or the Banks, or the Administrative Agent or the Banks exercise their right of set-off, and such payment or the proceeds of such set-off or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by the Administrative Agent or such Bank in its discretion) to be repaid to a trustee, receiver or any other party, in connection with any Insolvency Proceeding or otherwise, then (a) to the extent of such recovery the obligation or part thereof originally intended to be satisfied shall be revived and continued in full force and effect as if such payment had not been made or such set-off had not occurred, and (b) each Bank severally agrees to pay to the Administrative Agent upon demand its pro rata share of any amount so recovered from or repaid by the Administrative Agent.

Appears in 1 contract

Sources: Credit Agreement (Apw LTD)

Payments Set Aside. To the extent that the Company either Borrower makes a payment to the Administrative Agent or the Banksany Lender, or the Administrative Agent or the Banks exercise their any Lender exercises its right of set-off, and such payment or the proceeds of such set-off or any part thereof are is subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by the Administrative Agent or such Bank Lender in its discretion) to be repaid to a trusteetrustee or receiver, receiver or any other party, in connection with any Insolvency Proceeding or otherwise, then (a) to the extent of such recovery recovery, the obligation or part thereof originally intended to be satisfied shall be revived and continued in full force and effect as if such payment had not been made or such set-off had not occurred, occurred and (b) each Bank Lender severally agrees to pay to the Administrative Agent upon demand its pro rata share of any amount so recovered from or repaid by the Administrative Agent.

Appears in 1 contract

Sources: Credit Agreement (Rayovac Corp)

Payments Set Aside. To the extent that the Company a Fund makes a payment to either of the Administrative Agent Agents or the Banks, or either of the Administrative Agent Agents or the Banks exercise their any Bank exercises its right of set-off, and such payment or the proceeds of such set-off setoff or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by the Administrative Agent, the Operations Agent or such Bank in its discretion) to be repaid to a trustee, receiver or any other party, in connection with any Insolvency Proceeding or otherwise, then (a) to the extent of such recovery recovery, the obligation or part thereof originally intended to be satisfied shall be revived and continued in full force and effect as if such payment had not been made or such set-off setoff had not occurred, occurred and (b) each Bank severally agrees to pay to the Operations Agent or the Administrative Agent Agent, as the case may be, upon demand its pro rata share of any amount so recovered from or repaid by the Operations Agent or the Administrative Agent.

Appears in 1 contract

Sources: Credit Agreement (Liberty Funds Trust V)