Common use of Voidable Preference; Fraudulent Conveyance Clause in Contracts

Voidable Preference; Fraudulent Conveyance. If at any time any payment, or portion thereof, made by, or for the account of, the Borrower on account of any of the obligations and liabilities hereunder is set aside by any court or trustee having jurisdiction as a voidable preference or fraudulent conveyance or must otherwise be restored or returned by the County under any insolvency, bankruptcy or other federal and/or state laws or as a result of any dissolution, liquidation or reorganization of the Borrower or upon, or as a result of, the appointment of any receiver, intervenor or conservator of, or trustee or similar officer for, the Borrower or any substantial part of its properties or assets, the Borrower hereby agrees that this Loan and Note shall continue and remain in full force and effect or be reinstated, as the case may be, all as though such payments had not been made.