Settlement and discharge. The Trustee shall settle with the outgoing Custodian the amount of any sums payable by the outgoing Custodian to the Trustee or by the Trustee to the outgoing Custodian and shall give to or accept from the outgoing Custodian a discharge in respect of those sums (subject to clause 7.5) which shall be conclusive and binding as between the Trustee, the outgoing Custodian, the new Custodian, the Manager, the Beneficiaries and the Noteholders.
Settlement and discharge. Subject to clause 16.7, the Trustee shall settle with the outgoing Manager the amount of any sums payable by the outgoing Manager to the Trustee or by the Trustee to the outgoing Manager and shall give to or accept from the outgoing Manager a discharge in respect of those sums which shall be conclusive and binding as between the Trustee, the outgoing Manager, the new Manager, the Beneficiaries, the Noteholders and the other Creditors.
Settlement and discharge. Subject to clause 7.5, the Trustee shall settle with the outgoing Servicer the amount of any sums payable by the outgoing Servicer to the Trustee or by the Trustee to the outgoing Servicer and shall give to or accept from the outgoing Servicer a discharge in respect of those sums which shall be conclusive and binding as between the Trustee, the outgoing Servicer, the new Servicer, the Manager, the Beneficiaries and the Noteholders.
Settlement and discharge. The Trustee shall settle with the outgoing Trust Manager the amount of any sums payable by the outgoing Trust Manager to the Trustee or by the Trustee to the outgoing Trust Manager and shall give to or accept from the outgoing Trust Manager a discharge in respect of those sums which shall be conclusive and binding as between the Trustee, the outgoing Trust Manager, the new Trust Manager, the Beneficiaries and the Noteholders.
Settlement and discharge. The Trustee will settle with the outgoing Servicer the amount of any sums payable by the outgoing Servicer to the Trustee or by the Trustee to the outgoing Servicer and will give to or accept from the outgoing Servicer a discharge in respect of those sums which will be conclusive and binding as -------------------------------------------------------------------------------- Page 11 Xxxxx Xxxxx INVESTMENT MANAGEMENT AGREEMENT & Xxxxxxx -------------------------------------------------------------------------------- between the Trustee, the outgoing Servicer, the new Servicer, the Trust Manager, the Beneficiaries and the Noteholders.
Settlement and discharge. Any settlement or discharge between the Company and the Security Trustee shall be conditional upon no security or payment to the Security Trustee by the Company or any other person being avoided or set-aside or ordered to be refunded or reduced by virtue of any provision or enactment relating to bankruptcy, insolvency or liquidation for the time being in force and if such condition is not satisfied (but without limiting the other rights of the Security Trustee hereunder or under applicable law), such settlement or discharge shall be of no effect and the security created by this Deed shall remain and/or shall be reinstated in full force and effect as if such settlement or discharge had not occurred and the Security Trustee shall, on behalf of the Lender Parties, be entitled to recover from the Company on demand the value (to the extent of the value of the outstanding Liabilities at the time of such demand) of the security or payment so avoided, set-aside, refunded or reduced.
Settlement and discharge. 8.1 Any release or discharge of, or settlement between, the Guarantor and the Landlord, shall be conditional upon any security, disposition or payment to the Landlord by the Tenant, the Guarantor, any co-guarantor, or any other person not being void, set aside or ordered to be refunded pursuant to any law or enactment relating to bankruptcy, liquidation or insolvency or for any other reason whatever. If such condition shall not be fulfilled the Landlord shall be entitled to enforce this Deed subsequently as if any such release discharge or settlement had not occurred.
8.2 Any monies received in connection with this Deed (whether before or after the liquidation or bankruptcy of the Tenant or the Guarantor) may be placed to the credit of a suspense account with a view to preserving claims against the Tenant or the Guarantor, or may be applied by the Landlord in or towards satisfaction of such of the Secured Obligations as the Landlord in its absolute discretion may from time to time conclusively determine.
Settlement and discharge. Any settlement or discharge between the Borrower or any Subordinated Creditor and the Security Trustee shall be conditional upon no security or payment to the Security Trustee by the Borrower or any Subordinated Creditor or any other person being avoided or set-aside or ordered to be refunded or reduced by virtue of any provision or enactment relating to bankruptcy, insolvency or liquidation for the time being in force and if such condition is not satisfied (but without limiting the other rights of the Security Trustee hereunder or under applicable law), such settlement or discharge shall be of no effect and the security created by this Deed shall remain and/or shall be reinstated in full force and effect as if such settlement or discharge had not occurred and the Security Trustee shall, on behalf of the Lender Parties, be entitled to recover from the Borrower and each Subordinated Creditor on demand the value (to the extent of the value of the outstanding Liabilities at the time of such demand) of the security or payment so avoided, set-aside, refunded or reduced.
Settlement and discharge. On payment of all amounts due under Clauses 6.3, 6.4, 8.2 and 8.3, all Actual Inter-Group Debts and Actual Inter-Group Credits shall be and be treated as having been irrevocably satisfied and discharged in full and no member of the Group or of the Sellers’ Group shall thereafter claim or be entitled to claim otherwise.
Settlement and discharge. 3.1 Swimwear acknowledges and agrees that:
(a) payment to it of all or, as the case may be, its pro rata share of the Swimwear Distribution constitutes full and final settlement of the Swimwear Claim; and
(b) on receipt of all or, as the case may be, its pro rata share of the Swimwear Distribution it shall be deemed to have no further claim against New Profit and to have waived any and all rights of action of any nature against New Profit arising prior to the date of payment of the Swimwear Distribution.
3.2 CITIC acknowledges and agrees that:
(a) on receipt of 90 per cent. of the remaining Best Favour Distribution pursuant to paragraph (d) of Clause 2.4, it shall be deemed to have no further claims against Xxxxx and to have waived any and all rights of action of any nature against Xxxxx arising prior to the date of payment to it of 90 per cent. of the Best Favour Distribution; and
(b) it will take all steps necessary to release, on the Closing Date, the security over the shares in Best Favour created by the Share Charge, including, without limitation, the execution of a deed of release and the return of any relevant documentation delivered to it by Xxxxx pursuant to the terms of the Share Charge.
3.3 Each Party acknowledges and agrees that nothing in this Clause 3 will prejudice any claims that CITIC may have against the Company in connection with the CITIC Claim.
