Common use of DISCHARGE CONDITIONAL Clause in Contracts

DISCHARGE CONDITIONAL. 7.1 Any release, discharge or settlement between the Guarantor and a Beneficiary in relation to this Guarantee shall be conditional on no right, security, disposition or payment to that Beneficiary by the Guarantor, the relevant Guaranteed Company or any other person in respect of the relevant Guaranteed Obligations being avoided, set aside or ordered to be refunded under 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. 7.2 If any right, security, disposition or payment referred to in Clause 7.1 is avoided, set aside or ordered to be refunded, each Beneficiary shall be entitled subsequently to enforce this Guarantee against the Guarantor as if such release, discharge or settlement had not occurred and any such right, security, disposition or payment had not been given or made.

DISCHARGE CONDITIONAL. 7.1 8.1 Any release, discharge or settlement between the Guarantor and a Beneficiary the Lender in relation to this Guarantee guarantee shall be conditional on no right, securitySecurity, disposition or payment to that Beneficiary the Lender by the Guarantor, the relevant Guaranteed Company Borrower or any other person in respect of the relevant Guaranteed Obligations being avoided, set aside or ordered to be refunded under 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. 7.2 8.2 If any right, securitySecurity, disposition or payment referred to in Clause 7.1 clause 8.1 is avoided, set aside or ordered to be refunded, each Beneficiary the Lender shall be entitled subsequently to enforce this Guarantee guarantee against the Guarantor as if such release, discharge or settlement had not occurred and any such right, securitySecurity, disposition or payment had not been given or made.

DISCHARGE CONDITIONAL. 7.1 Any release, discharge or settlement between the Guarantor and a Beneficiary the Secured Parties in relation to this Guarantee guarantee shall be conditional on no right, securitySecurity, disposition or payment to that Beneficiary the Agent by the Guarantor, the relevant Guaranteed Company Borrower or any other person in respect of the relevant Guaranteed Obligations Liabilities being avoided, set aside or ordered to be refunded under 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. 7.2 If any right, securitySecurity, disposition or payment referred to in Clause 7.1 is avoided, set aside or ordered to be refunded, each Beneficiary the Secured Parties shall be entitled subsequently to enforce this Guarantee guarantee against the Guarantor as if such release, discharge or settlement had not occurred and any such right, securitySecurity, disposition or payment had not been given or made.

DISCHARGE CONDITIONAL. 7.1 8.1 Any release, discharge or settlement between the Guarantor and a Beneficiary the Lender in relation to this Guarantee shall be conditional on no right, securitySecurity, disposition or payment to that Beneficiary the Lender by the Guarantor, the relevant Guaranteed Company Borrower or any other person in respect of the relevant Guaranteed Obligations being avoided, set aside or ordered to be refunded under 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. 7.2 8.2 If any right, securitySecurity, disposition or payment referred to in Clause 7.1 clause 8.1 is avoided, set aside or ordered to be refunded, each Beneficiary the Lender shall be entitled subsequently to enforce this Guarantee against the Guarantor as if such release, discharge or settlement had not occurred and any such right, securitySecurity, disposition or payment had not been given or made.