AVOIDANCE OF PAYMENT. If, as a result of the filing of a bankruptcy petition or other legal proceeding, or any order or ruling therein, or any statute, regulation, rule, or other law or requirement, or for any other reason, this Agreement or any of the Company's obligations to Employee hereunder become unenforceable, or any money or property delivered by Company as consideration for Employee's obligations hereunder is subsequently avoided in a legal proceeding or for any other reason cannot be retained lawfully by Employee, then the release set forth in paragraph 4 of this Agreement shall be void and the Employee may commence and/or maintain any legal or other action that he may have had against Employer or otherwise, prior to the effective date of this Agreement, as well pursue a claim for breach of this Agreement. In the event the consideration under this Agreement is avoided in a bankruptcy proceeding, the Company agrees the Employee shall have a post-petition administrative claim to the extent of any consideration avoided, provided, the payment, in full, of such an administrative claim will operate to restore the release set forth in paragraph 4, above. Any statute of limitations period and/or any other time limitation relating to Employee's right to bring, maintain, or recover on, any claim subject to the release set forth in paragraph 4 above is hereby tolled until 5:00 p.m. on the tenth business day after one calendar year from the date on which any and all charges, claims, or appeals which may affect the consideration due Employee under this Agreement are legally and finally determined and resolved in a manner which is binding on the parties and all others with standing with respect thereto.
AVOIDANCE OF PAYMENT. No assurance, security, guarantee or payment which may be avoided under any law relating to bankruptcy, insolvency or winding-up or under any applicable laws or statute, and no release, settlement, discharge or arrangement given or made by the Chargee on the faith of any such assurance, security, guarantee or payment, shall prejudice or affect the right of the Chargee to enforce the security created by this Debenture in respect of the full extent of the Secured Debt or any other rights which the Chargee may have in respect of the Secured Debt or any part thereof. Any such release, settlement, discharge or arrangement shall be deemed to be made subject to the condition that it will be void, if any payment or security which the Chargee may previously have received or may thereafter receive from any person in respect of the Secured Debt, is set aside under any applicable law or proves to have been for any reason invalid.
AVOIDANCE OF PAYMENT. No disposition, assurance, security or payment which may be or may become avoided under any provision of the Companies Act, Chapter 50 of Singapore or any statutory modification thereof and no release, settlement or discharge which may have been given or made on the faith of any such disposition, assurance, security or payment shall prejudice or affect the Board’s right to recover from the Company monies to the full extent of this Agreement, the Loan Agreement and any other agreement in connection with the Indebtedness as if such disposition, assurance, security, payment, release, settlement or discharge (as the case may be) had never been made, given or granted.
AVOIDANCE OF PAYMENT. If any payment that has been made to a Canadian Secured Party by or on behalf of any Obligor is subsequently avoided by reason of or pursuant to any law or otherwise, then:
AVOIDANCE OF PAYMENT. If the Security Trustee considers that an amount paid to the Security Trustee or any Beneficiary for application in or towards repayment of the Secured Obligations is capable of being avoided or otherwise set aside on the liquidation or administration of the Chargor or otherwise, then such amount will not be considered to have been irrevocably paid for the purposes of the Security Documents.
AVOIDANCE OF PAYMENT. 39.1 No assurance, security or payment which may be avoided under any law relating to winding up, insolvency or any other reason whatsoever and no release, settlement or discharge given by the Sukukholders or the Sukuk Trustee on the faith of any such assurance security or payment shall prejudice or affect the Sukukholders’ and/or the Sukuk Trustee’s rights to recover from the Issuer any outstanding amounts together with all Ta’widh (compensation) thereon to the full extent thereunder. Any such release, settlement or discharge shall be deemed to be made subject to the condition it will be void if any assurance, payment or security which the Sukukholders and/or Sukuk Trustee may previously have received or may hereafter receive from any person in respect of such indebtedness is set aside under any applicable law or proves to have been for any reason invalid.
AVOIDANCE OF PAYMENT. 41.1 No assurance, security or payment which may be avoided under any law relating to winding up, insolvency or any other reason whatsoever and no release settlement or discharge given by the Sukukholders or the Sukuk Trustee on the faith of any such assurance security or payment shall prejudice or affect the Sukukholders’ and/or the Sukuk Trustee’s rights to recover from the Issuer the outstanding amounts hereunder. Any such release, settlement or discharge shall be deemed to be made subject to the condition it will be void if any assurance, payment or security which the Sukukholders and/or Sukuk Trustee may previously have received or may hereafter receive from any person in respect of such indebtedness is set aside under any applicable law or proves to have been for any reason invalid.
