Common use of Settlements conditional Clause in Contracts

Settlements conditional. If any monies paid by the Guarantor to the Beneficiary under this Guaranty have to be repaid by the Beneficiary by virtue of any provision or enactment relating to bankruptcy, insolvency or liquidation for the time being in force, the liability of the Guarantor under this Guaranty shall be computed as if such monies had never been paid to the Beneficiary, and without regard to the expiration date of this Guaranty provided in Section 8.

Settlements conditional. If any monies paid by the Guarantor to the Beneficiary Beneficiaries in reduction of the indebtedness of the Obligor under this Guaranty either Agreement have to be repaid by the Beneficiary Beneficiaries by virtue of any provision or enactment relating to bankruptcy, insolvency or liquidation for the time being in force, the liability of the Guarantor under this Guaranty shall be computed as if such monies had never been paid to the Beneficiary, and without regard to the expiration date of this Guaranty provided in Section 8Beneficiaries.

Settlements conditional. If any monies paid by the Guarantor to the Beneficiary in reduction of the indebtedness of the Obligor under this Guaranty the Agreement have to be repaid by the Beneficiary by virtue of any provision or enactment relating to bankruptcy, insolvency or liquidation for the time being in force, the liability of the Guarantor under this Guaranty shall be computed as if such monies had never been paid to the Beneficiary, and without regard to the expiration date of this Guaranty provided in Section 8.