SETTLEMENT OR DISCHARGE Sample Clauses
The 'Settlement or Discharge' clause defines the terms under which obligations or claims between parties are considered resolved or fulfilled. Typically, this clause outlines the procedures for making payments, delivering goods, or performing services that satisfy outstanding debts or liabilities, and may specify documentation or actions required to confirm completion. Its core function is to provide a clear mechanism for concluding contractual responsibilities, thereby preventing future disputes over whether obligations have been met.
SETTLEMENT OR DISCHARGE. Any settlement or discharge between the Agent, the Security Agent, any Issuing Bank, any Bank, the Co-Arrangers or the Standby Lender and the Borrowers and/or Stena AB shall be conditional upon no security or payment to the Agent, the Security Agent, any Issuing Bank, any Bank, the Co-Arrangers or the Standby Lender by the Borrowers 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 the Agent, the Security Agent, any Issuing Bank, any Bank, the Co-Arrangers and the Standby Lender shall be entitled to recover from the Borrowers and/or Stena AB the value which the Agent, the Security Agent, such Issuing Bank, such Bank, the Co-Arrangers or the Standby Lender has placed upon such security or the amount of any such payment as if such settlement or discharge has not occurred.
SETTLEMENT OR DISCHARGE conditional
SETTLEMENT OR DISCHARGE. Any settlement or discharge between the Agent, the Security Agent, any Bank or the Co-Arrangers and the Borrower and/or Stena AB shall be conditional upon no security or payment to the Agent, the Security Agent, any Bank or the Co-Arrangers by the Borrower 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 the Agent, the Security Agent, any Bank and the Co-Arrangers shall be entitled to recover from the Borrower and/or Stena AB the value which the Agent, the Security Agent, such Bank or the Co-Arrangers have placed upon such security or the amount of any such payment as if such settlement or discharge has not occurred.
SETTLEMENT OR DISCHARGE. Conditional Any settlement or discharge under any Finance Document between the Lender and any Transaction Obligor shall be conditional upon no security or payment to the Lender by any Transaction Obligor or any other person being set aside, adjusted or ordered to be repaid, whether under any insolvency law or otherwise. 37 Irrevocable Payment If the Lender considers that an amount paid or discharged by, or on behalf of, a Transaction Obligor or by any other person in purported payment or discharge of an obligation of that Transaction Obligor to the Lender under the Finance Documents is capable of being avoided or otherwise set aside on the liquidation or administration of that Transaction Obligor or otherwise, then that amount shall not be considered to have been unconditionally and irrevocably paid or discharged for the purposes of the Finance Documents.
SETTLEMENT OR DISCHARGE. CONDITIONAL 39 IRREVOCABLE PAYMENT