Common use of Discharges and Releases Clause in Contracts

Discharges and Releases. Notwithstanding any discharge, release or settlement from time to time between the Trustee and the Issuer, if any discharge or payment in respect of the obligations of the Issuer under this Deed is voided or set aside or ordered to be surrendered, paid away, refunded or reduced by virtue of any provision of Law or enactment relating to bankruptcy, insolvency, liquidation, winding-up, composition or arrangement for the time being in force or for any other reason resulting in the above, the Trustee shall be entitled hereafter to enforce this Deed as if no such discharge, release or settlement had occurred.

Discharges and Releases. Notwithstanding any discharge, release or settlement from time to time between the Debenture Trustee and the Issuer, if any discharge or payment in respect of the obligations of the Issuer under this Deed is voided avoided or set aside or ordered to be surrendered, paid away, refunded or reduced by virtue of any provision of Law law or enactment relating to bankruptcy, insolvency, liquidation, winding-winding up, composition or arrangement for the time being in force or for any other reason resulting in the above, the Debenture Trustee shall be entitled hereafter to enforce this Deed as if no such discharge, release or settlement had occurred.