SETTLEMENT OR DISCHARGE CONDITIONAL. Any settlement or discharge under any Finance Document between any Finance Party and any Transaction Obligor shall be conditional upon no security or payment to any Finance Party by any Transaction Obligor or any other person being set aside, adjusted or ordered to be repaid, whether under any insolvency law or otherwise. If the Facility Agent 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 a Secured Party 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. Any settlement or discharge under this Mortgage between the Mortgagee and the Owner shall be conditional upon no security or payment to the Mortgagee by the Owner or any other person being set aside, adjusted or ordered to be repaid, whether under any insolvency law or otherwise.
SETTLEMENT OR DISCHARGE CONDITIONAL. Any settlement or discharge under any Finance Document between any Finance Party and any Obligor shall be conditional upon no security or payment to any Finance Party by any Obligor or any other person being set aside, adjusted or ordered to be repaid, whether under any insolvency law or otherwise.
SETTLEMENT OR DISCHARGE CONDITIONAL. Any settlement or discharge under this Deed between the Lender and the Owner shall be conditional upon no security or payment to the Lender by the Owner or any other person being set aside, adjusted or ordered to be repaid, whether under any insolvency law or otherwise.
SETTLEMENT OR DISCHARGE CONDITIONAL. Any settlement or discharge under this Mortgage between the Security Trustee or any other Finance Party and the Owner shall be conditional upon no security or payment to the Security Trustee or any other Finance Party by the Owner or any other person being set aside, adjusted or ordered to be repaid, whether under any insolvency law or otherwise.
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. 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. Any settlement or discharge under this Assignment between the Collateral Agent or any other Secured Party and the Assignor shall be conditional upon no security or payment to the Collateral Agent or any other Secured Party by the Assignor or any other person being set aside, adjusted or ordered to be repaid, whether under any insolvency law or otherwise.
SETTLEMENT OR DISCHARGE CONDITIONAL. Any settlement or discharge under this Deed between the Lender and any of the Owner, the Bareboat Charterer, Pacific Rim or TBS Worldwide shall be conditional upon no security or payment to the Lender by the Owner, the Bareboat Charterer, Pacific Rim or TBS Worldwide or any other person being set aside, adjusted or ordered to be repaid, whether under any insolvency law or otherwise.
SETTLEMENT OR DISCHARGE CONDITIONAL. Any settlement or discharge under this Deed between the Agent or any other Finance Party and the Owner shall be conditional upon no security or payment to the Agent or any other Finance Party by the Owner or any other person being set aside, adjusted or ordered to be repaid, whether under any insolvency law or otherwise.
SETTLEMENT OR DISCHARGE CONDITIONAL. Any settlement or discharge under this Mortgage between the Mortgagee or any other Creditor Party and the Owner shall be conditional upon no security or payment to the Mortgagee or any other Creditor Party by the Owner or any other person being set aside, adjusted or ordered to be repaid, whether under any insolvency law or otherwise.
