Common use of Scheme Clause in Contracts

Scheme. The obligations and liabilities of the Guarantors under this Agreement shall not be affected by any reduction occurring in, or other arrangement being made relating to the liabilities of any Credit Party to the Banks as a result of any arrangement or composition, made pursuant to any of the provisions of the Act or any analogous provisions in any other jurisdiction or made pursuant to any proceedings or actions whatsoever and whether or not following the appointment of an administrator, administrative receiver, trustee, liquidator, receiver or examiner or any similar officer or any analogous event occurring under the laws of any relevant jurisdiction to any Credit Party or over all or a substantial part of the assets (as the case may be) of any Credit Party and each Guarantor hereby agrees with and to the Banks and the Administrative Agent that the amount recoverable by the Banks from the Guarantors hereunder will be and will continue to be the full amount which would have been recoverable by the Banks from any such Guarantor in respect of any such Guarantor’s liabilities had no such arrangement or composition or event as aforesaid been entered into.

Scheme. The obligations and liabilities of the Guarantors each Guarantor under this Credit Agreement shall not be affected by any reduction occurring in, or other arrangement being made relating to the liabilities of any Credit Party to the Banks Lenders as a result of any arrangement or composition, made pursuant to any of the provisions of the Act or any analogous provisions in any other jurisdiction or made pursuant to any proceedings or actions whatsoever and whether or not following the appointment of an administrator, administrative receiver, trustee, liquidator, receiver or examiner or any similar officer or any analogous event occurring under the laws of any relevant jurisdiction to any Credit Party or over all or a substantial part of the assets (as the case may be) of any Credit Party and each Guarantor hereby agrees with and to the Banks Lenders and the Administrative Agent that the amount recoverable by the Banks Lenders from the Guarantors hereunder will be and will continue to be the full amount which would have been recoverable by the Banks Lenders from any such Guarantor the Guarantors in respect of any such each Guarantor’s liabilities had no such arrangement or composition or event as aforesaid been entered into.

Scheme. The obligations and liabilities of the Guarantors each Guarantor under this Agreement shall not be affected by any reduction occurring in, or other arrangement being made relating to the liabilities of any Credit Party to the Banks Lenders as a result of any arrangement or composition, made pursuant to any of the provisions of the Act or any analogous provisions in any other jurisdiction or made pursuant to any proceedings or actions whatsoever and whether or not following the appointment of an administrator, administrative receiver, trustee, liquidator, receiver or examiner or any similar officer or any analogous event occurring under the laws of any relevant jurisdiction to any Credit Party or over all or a substantial part of the assets (as the case may be) of any Credit Party and each Guarantor hereby agrees with and to the Banks Lenders and the Administrative Agent that the amount recoverable by the Banks Lenders from the Guarantors hereunder will be and will continue to be the full amount which would have been recoverable by the Banks Lenders from any such Guarantor the Guarantors in respect of any such each Guarantor’s liabilities had no such arrangement or composition or event as aforesaid been entered into.

Scheme. The obligations and liabilities of the Guarantors each Guarantor under this Agreement shall not be affected by any reduction occurring in, or other arrangement being made relating to the liabilities of any other Credit Party to the Banks Lenders as a result of any arrangement or composition, made pursuant to any of the provisions of the Act or any analogous provisions in any other jurisdiction or made pursuant to any proceedings or actions whatsoever and whether or not following the appointment of an administrator, administrative receiver, trustee, liquidator, receiver or examiner or any similar officer or any analogous event occurring under the laws of any relevant jurisdiction to any other Credit Party or over all or a substantial part of the assets (as the case may be) of any other Credit Party and each Guarantor hereby agrees with and to the Banks Lenders and the Administrative Agent that the amount recoverable by the Banks Lenders from the Guarantors hereunder will be and will continue to be the full amount which would have been recoverable by the Banks Lenders from any such Guarantor the Guarantors in respect of any such each Guarantor’s liabilities had no such arrangement or composition or event as aforesaid been entered into.