CONDITIONAL DISCHARGE Sample Clauses

CONDITIONAL DISCHARGE. 18.1 The Pledgors hereby agrees that: (a) no assurance, security or payment which may be avoided under any of the provisions of the Bankruptcy A▇▇ ▇▇▇▇ for the time being in force or under any law relating to the winding-up of companies and no release settlement or discharge which may have been given on the faith of any such assurance, security or payment shall prejudice or affect the Pledgee’s right to recover from the Pledgors to the full extent of this Memorandum as if such assurance security payment release settlement or discharge (as the case may be) had never been granted, given or made; and (b) no release settlement or discharge of this Memorandum which may have been given by reason of the Pledgee’s mistake or error (whether such mistake or error is made by the Pledgee’s staff or computer through the Pledgee’s negligence or otherwise) shall have any effect and this Memorandum shall continue to remain in full force and effect and the Pledgors shall do all such acts matters things as the Pledgee shall require to rectify such mistake or error including but not limited to the return and/or re-transfer of the Collateral concerned to the Pledgee.

CONDITIONAL DISCHARGE. Any settlement or discharge between any of the Unsecured Guarantors and the Arranger, the Agent, the Lenders or any of them shall be conditional upon no security or payment to the Arranger, the Agent and the Lenders or any of them by any Obligor or the relevant Unsecured Guarantor or any other person being avoided or set aside or ordered to be refunded or reduced by or pursuant to any applicable law or regulation and, if such condition is not satisfied, the Arranger, the Agent and the Lenders shall each be entitled to recover from the relevant Unsecured Guarantor on demand the value of any such security or the amount of any such payment as if such settlement or discharge had not occurred.

CONDITIONAL DISCHARGE. Any release, discharge or settlement between the Guarantor and the Authority in relation to this Deed shall be conditional on no right, security, disposition or payment to the Authority by the Guarantor, the Supplier or any other person being avoided, set aside or ordered to be refunded pursuant to any enactment or law relating to breach of duty by any person, bankruptcy, liquidation, administration, protection from creditors generally or insolvency for any other reason. If any such right, security, disposition or payment as referred to in Clause 6.1 is avoided, set aside or ordered to be refunded, the Authority shall be entitled subsequently to enforce this Deed against the Guarantor as if such release, discharge or settlement had not occurred and any such security, disposition or payment has not been made.

CONDITIONAL DISCHARGE. Any release, discharge or settlement under this Deed shall be conditional upon no payment or discharge in respect of the Secured Obligations by the Chargor or any other person being avoided, reduced or repaid for any reason and the Lender shall be entitled to enforce this Deed if such condition is not fulfilled as if such release, discharge or settlement had not occurred.

CONDITIONAL DISCHARGE. 5.1. Any release, discharge or settlement between the Guarantor and CCDG in relation to this Deed shall be conditional on no right, security, disposition or payment to CCDG by the Guarantor, the Supplier or any other person being avoided, set aside or ordered to be refunded pursuant to any enactment or law relating to breach of duty by any person, bankruptcy, liquidation, administration, protection from creditors generally or insolvency or for any other reason. 5.2. If any such right, security, disposition or payment is avoided, set aside or ordered to be refunded, CCDG shall be entitled subsequently to enforce this Deed against the Guarantor as if such release, discharge or settlement had not occurred and any such security, disposition or payment had not been made.

CONDITIONAL DISCHARGE. Any such discharge or release referred to in Clause 5.8 (No Discharge) above, and any composition or arrangement which the Borrower may effect with the Issuing Bank, the Facility Agent or any Lender shall be deemed to be made subject to the condition that it will be void if any payment or security which the Issuing Bank, the Facility Agent or such Lender may previously have received or may thereafter receive under this Agreement, any Security Document or the Guarantee, is void, voidable or set aside for any reason whatsoever under any law (including, without limitation, under any law relating to preferences, bankruptcy, insolvency, liquidation, administration, judicial management or winding up) or proves to have been for any reason invalid.

CONDITIONAL DISCHARGE. 7.1 Any release, discharge or settlement between the Guarantor and the Council in relation to this guarantee shall be conditional on no right, security, disposition or payment to the Council by the Guarantor, the Service Provider or any other person being avoided, set aside or ordered to be refunded pursuant to any enactment or law relating to breach of duty by any person, bankruptcy, liquidation, administration, protection from creditors generally or insolvency for any other reason. 7.2 If any such right, security, disposition or payment as referred to in clause 7.1 (Conditional discharge) is avoided, set aside or ordered to be refunded, the Council shall be entitled subsequently to enforce this guarantee against the Guarantor as if such release, discharge or settlement had not occurred and any such security, disposition or payment has not been made.

CONDITIONAL DISCHARGE. 5.1 Any release, discharge or settlement (“Release”) between the Guarantor and the Society relating to this Guarantee is conditional upon no right, security, disposition or payment made or granted to the Society by any Guarantor, any Borrower, any other Guarantor or any other person being void, set aside or ordered to be refunded under any law. If any such thing is void, so set aside or ordered to be refunded, the Society can enforce this Guarantee as if the Release had not occurred. 5.2 The Society will retain ownership of this Guarantee even after the Release.

CONDITIONAL DISCHARGE. 30.1 Any release, settlement or discharge between the Chargee and the Chargor shall be conditional upon no security, disposition or payment to the Chargee by the Chargor or any other person in respect of the Secured Obligations being avoided, set aside, reduced or ordered to be refunded by virtue of any statutory provision relating to insolvency or liquidation or for any reason whatsoever. 30.2 If any such release, settlement or discharge is reasonably considered by the Chargee to be capable of being avoided, set aside, reduced or ordered to be refunded, the liability of the Chargor under this Deed shall continue or be reinstated and the Chargee shall be entitled to recover the value or amount of any such security, disposition or payment from the Chargor as if the release, settlement or discharge had not occurred.