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.
Appears in 5 contracts
Samples: Term Loan Facility (Ardmore Shipping Corp), Term Loan Facility (Ardmore Shipping Corp), Facility Agreement (DryShips Inc.)
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.
Appears in 3 contracts
Samples: Term Loan Facility (Navios Maritime Partners L.P.), Term Loan Facility (United Maritime Corp), Facility Agreement (United Maritime Corp)
SETTLEMENT OR DISCHARGE CONDITIONAL. Any settlement or discharge under any Finance Document between any Finance Party and any Obligor the Borrower shall be conditional upon no security or payment to any Finance Party by any Obligor the Borrower or any other person being set aside, adjusted or ordered to be repaid, whether under any insolvency law or otherwise.
Appears in 1 contract
Samples: Term Loan Facility (DryShips Inc.)
SETTLEMENT OR DISCHARGE CONDITIONAL. Any settlement or discharge under any Finance Document between any Finance Party and any Transaction Obligor or any Approved Manager (as the case may be) shall be conditional upon no security or payment to any Finance Party by any Transaction Obligor or Approved Manager (as the case may be) or any other person being set aside, adjusted or ordered to be repaid, whether under any insolvency law or otherwise.
Appears in 1 contract
Samples: Facility Agreement (Euroseas Ltd.)
