Common use of Settlement Conditional Clause in Contracts

Settlement Conditional. Any settlement or discharge between a Lender and the Fronting Bank shall be conditional upon no security or payment to the Fronting 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 Fronting 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 and the Fronting Bank shall be conditional upon no security or payment to the Fronting 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 gen­eral application and, if any such security or payment is so avoided or reduced, the Fronting Bank shall be entitled to recover the value or amount of such security secu­rity or payment from such Lender subsequently as if such settlement or discharge dis­charge had not occurred.

Settlement Conditional. Any settlement or discharge between a Lender and the a Fronting Bank shall be conditional upon no security or payment to the any Fronting 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 such Fronting Bank shall be entitled to recover the value or amount of 176 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 Bank and the a Fronting Bank shall be conditional upon no security or payment to the any Fronting Bank by a Lender Bank or any other person on behalf of a Lender Bank 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 such Fronting Bank shall be entitled to recover the value or amount of such security or payment from such Lender Bank subsequently as if such settlement or discharge had not occurred.

Settlement Conditional. Any settlement or discharge between a Lender and the a Fronting Bank shall be conditional upon no security or payment to the a Fronting 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 a Fronting 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.