Common use of Release of Deed Clause in Contracts

Release of Deed. Any release, settlement, discharge or arrangement between Alcatel and the Guarantor (a Release) shall be subject to the condition that if any payment or satisfaction made or security or guarantee given in relation to any sums guaranteed hereunder by a person other than the Guarantor (a Relevant Transaction) shall be avoided, reduced or invalidated by virtue of any applicable law or for any reason whatsoever, then such Release shall, to the extent of such avoidance, reduction or invalidation, be void and of no effect, and Alcatel may recover immediately the value or amount, or (as the case may be) the reduction in value or amount, thereof from the Guarantor as if such Release had not occurred.