Common use of Return of Monies Clause in Contracts

Return of Monies. If at any time payment, in whole or in part, of any Trust Monies or Prepayment Monies distributed hereunder is rescinded or must otherwise be restored or returned by the Collateral Trustee or by any Secured Party as a preference, fraudulent conveyance or otherwise under any bankruptcy, insolvency or similar law, then each Person receiving any portion of such Monies agrees, upon demand, to return the portion of such Monies it has received to the Person responsible for restoring or returning such Monies; provided that the Public Note Representative and the Credit Agreement Representative shall not be required to return any such Monies that have been distributed by the Public Note Representative or the Credit Agreement Representative to the holders of the Public Notes or the Lenders, as applicable, or to other third parties, or are otherwise no longer in the possession of the Public Note Representative or the Credit Agreement Representative in their capacity as Indenture Trustee or Administrative Agent, as applicable.

Appears in 2 contracts

Sources: Collateral Trust and Intercreditor Agreement (American Capital, LTD), Collateral Trust and Intercreditor Agreement (American Capital, LTD)