DISCHARGE CONDITIONAL. Any settlement or discharge between any Company and any Secured Party shall be conditional upon no security or payment to that Secured Party by that Company or any other person being avoided, set aside, ordered to be refunded or reduced by virtue of any provision or enactment relating to insolvency and accordingly (but without limiting the other rights of that Secured Party under this Debenture) that Secured Party shall be entitled to recover from that Company the value which that Secured Party, acting reasonably, has placed on that security or the amount of any such payment as if that settlement or discharge had not occurred.
Appears in 3 contracts
Sources: Credit Agreement (Canada Goose Holdings Inc.), Credit Agreement (Canada Goose Holdings Inc.), Credit Agreement (Canada Goose Holdings Inc.)