Common use of Settlement Conditional Clause in Contracts

Settlement Conditional. 16.5 Any settlement or discharge between any Obligor and any of the Finance Parties shall be conditional upon no security or payment to any Finance Party by the Account Party or any other person on behalf of the Account Party 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, each Finance Party shall be entitled to recover the value or amount of such security or payment from the Account Party subsequently as if such settlement or discharge had not occurred.

Settlement Conditional. 16.5 6.3 Any settlement or discharge between any Obligor the Account Party and any of the Finance Parties a Lender shall be conditional upon no security or payment to any Finance Party such Lender by the Account Party or any other person on behalf of the Account Party Party, 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, each Finance Party such Lender shall be entitled to recover the value or amount of such security or payment from the Account Party subsequently as if such settlement or discharge had not occurred.

Settlement Conditional. 16.5 Any settlement or discharge between any Obligor the Borrower and any of the Finance Parties shall be conditional upon no security or payment to any Finance Party by the Account Party Borrower or any other person on behalf of the Account Party Borrower being avoided or reduced by virtue of any Laws laws relating to bankruptcy, insolvency, liquidation or similar Laws laws of general application and, if any such security or payment is so avoided or reduced, each Finance Party shall be entitled to recover the value or amount of such security or payment from the Account Party Borrower subsequently as if such settlement or discharge had not occurred.

Settlement Conditional. 16.5 Any settlement or discharge between any an Obligor and any of the Finance Parties shall be conditional upon no security or payment to any Finance Party by the Account Party an Obligor or any other person on behalf of the Account Party an Obligor being avoided or reduced by virtue of any Laws laws relating to bankruptcy, insolvency, liquidation or similar Laws laws of general application and, if any such security or payment is so avoided or reduced, each Finance Party shall be entitled to recover the value or amount of such security or payment from the Account Party such Obligor subsequently as if such settlement or discharge had not occurred.

Settlement Conditional. 16.5 Any settlement or discharge between any Obligor Finance Party and the Obligors (or any of the Finance Parties shall be Obligor) is conditional upon no on any security or payment to given or made by any Finance Party by the Account Party Obligor or any other person on behalf of in relation to the Account Party Obligations not being avoided avoided, repaid or reduced by virtue of any Laws relating to bankruptcy, insolvency, liquidation or similar Laws of general application and, if any such Insolvency Provision. If a security or payment is so avoided avoided, repaid or reduced, each the relevant Finance Party shall be is entitled to recover the value or amount of such security or payment from the Account Party Obligors subsequently as if such the settlement or discharge had not occurred.

Settlement Conditional. 16.5 Any settlement or discharge between any Obligor the Account Party and any of the Finance Parties shall be conditional upon no security or payment to any Finance Party by the Account Party or any other person on behalf of the Account Party being avoided or reduced by virtue of any Laws laws relating to bankruptcy, insolvency, liquidation or similar Laws laws of general application and, if any such security or payment is so avoided or reduced, each Finance Party shall be entitled to recover the value or amount of such security or payment from the Account Party subsequently as if such settlement or discharge had not occurred.

Settlement Conditional. 16.5 Any settlement or discharge between any an Obligor and any of the Finance Parties Party shall be conditional upon no security or payment to any such Finance Party by the Account Party an Obligor or any other person entity on behalf of the Account Party an Obligor being avoided or reduced by virtue of any Laws laws relating to bankruptcy, insolvency, liquidation or similar Laws laws of general application and, if any such security or payment is so avoided or reduced, each Finance Party shall be entitled to recover the value or amount of such security or payment from the Account Party such Obligor subsequently as if such settlement or discharge had not occurred.