Common use of DISCHARGE CONDITIONAL Clause in Contracts

DISCHARGE CONDITIONAL. Any settlement or discharge between the Chargor and any Secured Party shall be conditional upon no security or payment to that Secured Party by the Chargor 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 Agreement) that Secured Party shall be entitled to recover from the Chargor 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.

DISCHARGE CONDITIONAL. Any settlement or discharge between the Chargor and any Secured Party shall be conditional upon no security or payment to that Secured Party by the Chargor 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 AgreementDebenture) that Secured Party shall be entitled to recover from the Chargor the value which that Secured Party, acting reasonably, Party has placed on that security or the amount of any such payment as if that settlement or discharge had not occurred.

DISCHARGE CONDITIONAL. Any settlement or discharge between the Chargor and any Secured Party shall be conditional upon no security or payment to that Secured Party by the Chargor 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 AgreementDeed) that Secured Party shall be entitled to recover from the Chargor the value which that Secured Party, acting reasonably, Party has placed on that security or the amount of any such payment as if that settlement or discharge had not occurred.

DISCHARGE CONDITIONAL. Any settlement or discharge between the Chargor and any Secured Party shall be conditional upon no security Security or payment to that Secured Party by the Chargor 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 AgreementDebenture) that Secured Party shall be entitled to recover from the Chargor the value which that Secured Party, acting reasonably, Party has placed on that security Security or the amount of any such payment as if that settlement or discharge had not occurred and the Transaction Security shall continue or be reinstated as if that settlement or discharge had not occurred.