Failed PhoneGap Update kills project

Before you get the newest Cordova version for your PhoneGap project and run the update script, you better might want to back it up, or otherwise:

taylor:bin valmar$ ./update ~/dev/android/myp
An unexpected error occurred: ANDROID_BIN="${ANDROID_BIN:=$( which android )}" exited with 1
Deleting project...

Thank you, PhoneGap for deleting my project!