Common use of Discharge of Amount Due and Payable Clause in Contracts

Discharge of Amount Due and Payable. Subject always to the Bank’s right of consolidation, it is hereby agreed that on the satisfaction by payment or otherwise of the whole of the Lease Rentals pursuant to the Ijarah Arrangement under this Agreement and other moneys due under this Agreement and under the Security Documents, all the provisions herein contained shall cease to be of any effect but without prejudice to the Bank’s rights and remedies against the Customer in respect of any antecedent claim or breach of covenant.

Discharge of Amount Due and Payable. Subject always to the Bank’s right of consolidation, it is hereby agreed that on the satisfaction by payment or otherwise of the whole of the Lease Rentals pursuant to the Ijarah Arrangement Facilities under this Agreement and other moneys due under this Agreement and under the Security Documents, all the provisions herein contained shall cease to be of any effect but without prejudice to the Bank’s rights and remedies against the Customer Company in respect of any antecedent claim or breach of covenant.

Discharge of Amount Due and Payable. Subject always to the Bank’s right of consolidation, it is hereby agreed that on the satisfaction by payment or otherwise of the whole of the Lease Rentals pursuant to the Ijarah Arrangement under this Agreement and other moneys due under this Agreement and under the Security Documents, all the provisions herein contained shall cease to be of any effect but without prejudice to the Bank’s rights and remedies against the Customer in respect of any antecedent claim or breach of covenant.