Discharge and Release. Any settlement or discharge between the Beneficiary and the Guarantor in respect of the Guaranteed Obligations shall be conditional on no security or payment to the Beneficiary by the Guarantor or any other person being avoided or reduced by virtue of any provisions or enactments relating to insolvency or otherwise. If any such security or payment is avoided or reduced, the Beneficiary shall be entitled to recover the value or amount of that security or payment subsequently from the Guarantor and to exercise its rights under this Guarantee as if no such settlement or discharge had been made or given.
Discharge and Release. In the event that (i) any Guarantor is sold as contemplated by Section 6.08(b) of the Credit Agreement, (ii) this Guaranty or any portion hereof is released as contemplated by Section 9.01(a)(vi) of the Credit Agreement or (iii) the indebtedness shall have been paid in full and the obligations of the Lenders to extend credit to the Borrower under the Credit Agreement shall have terminated, the Administrative Agent, on behalf of the Lenders, shall discharge and release the relevant Guarantor(s) from all of its obligations under this Guaranty. Upon any such release and discharge, the Administrative Agent, on behalf of the Lenders, will execute and deliver to the relevant Guarantor(s) such documents as such Guarantor(s) shall reasonably request to evidence such discharge and release.
Discharge and Release. Notwithstanding any discharge, release or settlement from time to time between any Purchaser and the Guarantors, if any security, disposition or payment granted or made to the Majority Holders or any Purchaser in respect of the Obligations by the Guarantors or any other person is avoided or set aside or ordered to be surrendered, paid away, refunded or reduced by virtue of any provision, law or enactment relating to bankruptcy, insolvency, liquidation, winding-up, composition or arrangement for the time being in force or for any other reason, the Majority Holders shall be entitled hereafter to enforce this Agreement as if no such discharge, release or settlement had occurred.
Discharge and Release. In the event that the Indebtedness shall have been paid in full and the obligations of the Lenders to extend credit to the Borrower under the Credit Agreement shall have terminated, the Administrative Agent, on behalf of the Lenders, shall discharge and release the Guarantors from all of their obligations under this Guaranty. Upon any such release and discharge, the Administrative Agent, on behalf of the Lenders, will execute and deliver to the Guarantors such documents as their guarantors shall reasonably request to evidence such discharge and release.
Discharge and Release. Notwithstanding any discharge, release or settlement from time to time between any Finance Party and the Guarantor or any other Security Party, if any security, disposition or payment granted or made to any Finance Party in respect of the Guaranteed Obligations by the Guarantor or any other person is avoided or set aside or ordered to be surrendered, paid away, refunded or reduced by virtue of any provision, law or enactment relating to bankruptcy, insolvency, liquidation, winding-up, composition or arrangement for the time being in force or for any other reason, the Security Trustee shall be entitled hereafter to enforce this Deed as if no such discharge, release or settlement had occurred.
Discharge and Release. (a) The Guarantors may not terminate their obligations hereunder by notice to the Secured Parties or otherwise.
(b) Provided that the Principal Repayment Date shall have occurred and full payment of the Advance and all outstanding amounts due under the Finance Documents have been received by the Secured Parties, the Finance Parties at the request and cost of the Guarantors shall discharge or release the Guarantors by written instrument signed by the Finance Parties.
(c) Any discharge or release shall be deemed to be made subject to the condition that it will be void if any payment, performance or security which any Secured Party has received or may receive from any Person in respect of the Secured Obligations is set aside, refunded or reduced under any Applicable Law or proves to have been invalid. If such condition is satisfied, the Secured Parties shall be entitled to recover from any of the Guarantors on demand the value of such security or the amount of any such payment as if such discharge or release had not been effected.
Discharge and Release. Section 13.1. The discharge and release provisions set forth in Article 11 of the REA, along with the definitions set forth in Article 1 of the REA, shall also apply to this Lease.
Discharge and Release. Section 4.01. Discharge and Release
(a) Other than as provided in Section 4.01(b), the Guarantor may not terminate this Deed, whether by notice to EBRD or otherwise.
(b) The Guarantor shall cease to have any liability under Article II (Guarantee and Indemnity) and Article III (Project Completion) of this Deed, except as provided in Section 4.01(c), on the earlier of:
(i) the date on which the Guaranteed Obligations have been fully and irrevocably discharged strictly in accordance with the provisions of the Financing Agreements, as evidenced by a written instrument signed by EBRD; or
(ii) the Project Completion Date.
(c) Any discharge or release and any composition or arrangement which the Guarantor may effect with EBRD shall be deemed to be made subject to the condition that:
(i) it will be void if any payment, performance or security which EBRD has received or may receive from the Guarantor pursuant to the terms of this Deed in respect of the Guaranteed Obligations is set aside, refunded or reduced under any Applicable Law or proves to have been invalid. If such condition is satisfied, EBRD shall, be entitled to recover from the Guarantor on demand the amount of any such payment or the value of such security as if such discharge, release, composition or arrangement had not been made; and
(ii) it will be void if any payment, performance or security which EBRD has received or may receive from any third party (other than the Guarantor pursuant to the terms of this Deed) in respect of the Guaranteed Obligations is set aside, refunded or reduced under any Applicable Law or proves to have been invalid. If such condition is satisfied, EBRD shall be entitled to recover from the Guarantor on demand the amount of any such payment or the value of such security as if such discharge, release, composition or arrangement had not been made.
Discharge and Release. 4.1 The Guarantor may not amend or terminate this Guarantee without the consent of the Bondholders’ Representative and a Bondholders’ resolution approving such amendment or termination passed by Bondholders holding more than two-thirds (2/3) of the total principal amount outstanding of the Bonds held by the Bondholders attending the relevant meeting, in accordance with Condition 14.11 of the Terms and Conditions.
4.2 Subject to clauses 4.1 and 4.3, and provided the Guaranteed Amounts have been irrevocably paid in full, the Representative may for itself and on behalf of the Bondholders, at the request and cost of the Guarantor, discharge or release the Guarantor by written instrument signed by the Representative.
4.3 Any discharge or release referred to in clause 4.2 and any composition or arrangement which the Guarantor may effect with the Representative or the Bondholders shall be deemed to be made subject to the condition that it will be void if any payment, performance or security which the Representative or any Bondholder has received or may receive from any person in respect of the Guaranteed Amounts is set aside, refunded or reduced under any applicable law or proves to have been invalid. If such condition is satisfied, the Representative and the Bondholders shall be entitled to recover from the Guarantor on demand the value of such security or the amount of any such payment as if such discharge, release, composition or arrangement had not been effected.
Discharge and Release. 11.1 Any settlement or discharge between MCI WorldCom and the Guarantor in respect of the Guaranteed Obligations shall be subject to the condition that no security or payment to MCI WorldCom by the Guarantor or any other person shall be avoided or reduced by virtue of any provisions or enactments relating to insolvency or otherwise. If any such security or payment shall be so avoided or reduced, MCI WorldCom shall nevertheless be entitled to recover the value or amount thereof subsequently from the Guarantor and to exercise its rights under this Guarantee as if such settlement or discharge had not been effected. MCI WorldCom may retain any security held by it for the obligations of the Guarantor under this Guarantee until the expiry of the period of one month plus the maximum period within which such security or payment can be avoided, reduced or invalidated by virtue of any such provision or enactment except where such security is granted or payment made by the chargor.
11.2 In the event of any claim being made or proceedings being taken against MCI WorldCom the effect of which, if successful, would be the avoidance or reduction of any such security or payment and whether or not the Guarantor shall have been made a party thereto, MCI WorldCom shall have absolute discretion to concede or settle the same on such terms as it may think fit whereupon clause 11.1 shall have the effect as if such concession or settlement had been ordered by the Court (without possibility of appeal) and the Guarantor shall in addition pay MCI WorldCom all costs and expenses (on a full indemnity basis) arising out of or in connection with any such claim or proceedings.
11.3 The paper on which this Guarantee is written shall remain at all times the property of MCI WorldCom.
