Common use of Settlement Conditional Clause in Contracts

Settlement Conditional. Any settlement or discharge between a Lender and the Issuing Bank shall be conditional upon no security or payment to the Issuing Bank by a Lender or any other person on behalf of a Lender being avoided or reduced by virtue of any laws relating to bankruptcy, insolvency, liquidation or similar laws of general application and, if any such security or payment is so avoided or reduced, the Issuing Bank shall be entitled to recover the value or amount of such security or payment from such Lender subsequently as if such settlement or discharge had not occurred.

Settlement Conditional. Any settlement or discharge between a Lender the Borrower and the Issuing Bank Lenders shall be conditional upon no security or payment to such Lender by the Issuing Bank by a Lender Borrower, or any other person on behalf of a Lender the Borrower, being avoided or reduced by virtue of any laws relating to bankruptcy, insolvency, liquidation or similar laws of general application and, if any such security or payment is so avoided or reduced, the Issuing Bank such Lender shall be entitled to recover the value or amount of by which such security or payment from such Lender the Borrower is so avoided or reduced subsequently as if such settlement or discharge had not occurred.

Settlement Conditional. Any settlement or discharge between the relevant Borrower and the Fronting Bank or a Lender and the Issuing Bank shall be conditional upon no security or payment to the Issuing Fronting Bank or Lender by a Lender the Borrower, or any other person on behalf of a Lender the Borrower, being avoided or reduced by virtue of any laws relating to bankruptcy, insolvency, liquidation or similar laws of general application and, if any such security or payment is so avoided or reduced, the Issuing Fronting Bank or Lender shall be entitled to recover the value or amount of such security or payment from such Lender the Borrower subsequently as if such settlement or discharge had not occurred.

Settlement Conditional. Any settlement or discharge between the Borrower and a Lender and the Issuing Bank shall be conditional upon no security or payment to such Lender by the Issuing Bank by a Lender Borrower, or any other person on behalf of a Lender the Borrower, being avoided or reduced by virtue of any laws relating to bankruptcy, insolvency, liquidation or similar laws of general application and, if any such security or payment is so avoided or reduced, the Issuing Bank such Lender shall be entitled to recover the value or amount of such security or payment from such Lender the Borrower subsequently as if such settlement or discharge had not occurred.

Settlement Conditional. Any settlement or discharge between a Borrower and a Lender and the Issuing Bank shall be conditional upon no security or payment to the Issuing Bank such Lender by a Lender Borrower, or any other person on behalf of a Lender Borrower, being avoided or reduced by virtue of any laws relating to bankruptcy, insolvency, liquidation or similar laws of general application and, if any such security or payment is so avoided or reduced, the Issuing Bank such Lender shall be entitled to recover the value or amount of such security or payment from such Lender that Borrower subsequently as if such settlement or discharge had not occurred.

Settlement Conditional. Any settlement or discharge between the relevant Borrower and the Fronting Bank or a Lender and the Issuing Bank shall be conditional upon no security or payment to the Issuing Front­ing Bank or Lender by a Lender the Borrower, or any other person on behalf of a Lender the Bor­rower, being avoided or reduced by virtue of any laws relating to bankruptcy, insolvencyin- solvency, liquidation or similar laws of general application and, if any such security se­curity or payment is so avoided or reduced, the Issuing Fronting Bank or Lender shall be entitled to recover the value or amount of such security or payment from such Lender the Borrower subsequently as if such settlement or discharge had not occurred.

Settlement Conditional. Any settlement or discharge between a Lender and the Issuing an Offer Guarantee Bank shall be conditional upon no security or payment to the Issuing an Offer Guarantee Bank by a Lender or any other person on behalf of a Lender being avoided or reduced by virtue of any laws relating to bankruptcy, insolvency, liquidation or similar laws of general application and, if any such security or payment is so avoided or reduced, the Issuing an Offer Guarantee Bank shall be entitled to recover the value or amount of such security or payment from such Lender subsequently as if such settlement or discharge had not occurred.

Settlement Conditional. Any settlement or discharge between a Lender the Borrower and the Issuing Bank shall be conditional upon no security or payment to the Issuing Bank by a Lender the Borrower, or any other person on behalf of a Lender the Borrower, being avoided or reduced by virtue of any laws relating to bankruptcy, insolvency, liquidation or similar laws of general application and, if any such security or payment is so avoided or reduced, the Issuing Bank shall be entitled to recover the value or amount of such security or payment from such Lender the Borrower subsequently as if such settlement or discharge had not occurred.

Settlement Conditional. Any settlement or discharge between a Lender and the an Issuing Bank shall be conditional upon no security or payment to the Issuing Bank by a Lender or any other person on behalf of a Lender being avoided or reduced by virtue of any laws relating to bankruptcy, insolvency, liquidation or similar laws of general application and, if any such security or payment is so avoided or reduced, the Issuing Bank shall be entitled to recover the value or amount of such security or payment from such Lender subsequently as if such settlement or discharge had not occurred.

Settlement Conditional. Any settlement or discharge between a an Interim Lender and the an Issuing Bank shall be conditional upon no security or payment to the Issuing Bank by a an Interim Lender or any other person on behalf of a an Interim Lender being avoided or reduced by virtue of any laws relating to bankruptcy, insolvency, liquidation or similar laws of general application and, if any such security or payment is so avoided or reduced, the Issuing Bank shall be entitled to recover the value or amount of such security or payment from such Interim Lender subsequently as if such settlement or discharge had not occurred.