Common use of DISCHARGE TO BE CONDITIONAL Clause in Contracts

DISCHARGE TO BE CONDITIONAL. 9.1 Any release, discharge or settlement between the Guarantor and the Creditor in relation to this Guarantee shall be conditional upon no right, security, disposition or payment to the Creditor by the Guarantor and any other person being void, set aside or ordered to be refunded pursuant to any enactment or law relating to breach of duty by any person, bankruptcy, liquidation, administration, protection from creditors generally or insolvency or for any other reason. 9.2 If any such right, security, disposition or payment is void or is at any time so set aside or ordered to be refunded, the Creditor shall be entitled subsequently to demand payment under and to enforce this Guarantee against the Guarantor as if such release, discharge or settlement had not occurred and any such security, disposition or payment had not been made.

DISCHARGE TO BE CONDITIONAL. 9.1 Any release, discharge or settlement between the Guarantor and the Creditor any Lender in relation to this Guarantee shall be conditional upon no right, security, disposition or payment to the Creditor such Lender by the Guarantor any Covenantor and any other person being void, set aside or ordered to be refunded pursuant to any enactment or law relating to breach of duty by any person, bankruptcy, liquidation, administration, the protection from of creditors generally or insolvency or for any other reason. 9.2 . If any such right, security, disposition or payment is void or is at any time so set aside or ordered to be refunded, the Creditor Lenders shall be entitled subsequently to demand payment under and to enforce this Guarantee against the Guarantor as if such release, discharge or settlement had not occurred and any such security, disposition disposition, or payment had not been made.

DISCHARGE TO BE CONDITIONAL. 9.1 10.01 Any release, discharge or settlement between the Guarantor and the Creditor Company in relation to this Guarantee shall be conditional upon no right, security, disposition or payment to the Creditor Company by any of the Guarantor Guarantor, the Principal and any other person being void, set aside or ordered to be refunded pursuant to any enactment or law relating to breach of duty by any person, bankruptcy, liquidation, administration, the protection from of creditors generally or insolvency or for any other reasonperson. 9.2 10.02 If any such right, security, disposition or payment is void or is at any time so set aside or ordered to be refunded, the Creditor Company shall be entitled subsequently to demand payment under and to enforce this Guarantee against the Guarantor as if such release, discharge or settlement had not occurred and any such security, disposition or payment had not been made.