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.
Appears in 5 contracts
Samples: General Assignment (Knightsbridge Tankers LTD), General Assignment (Knightsbridge Tankers LTD), General Assignment (Knightsbridge Tankers LTD)
SETTLEMENT OR DISCHARGE CONDITIONAL. Any settlement or discharge under this Deed between the Lender Issuer and the Owner shall be conditional upon no security or payment to the Lender Issuer by the Owner 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: Guarantee Facility Agreement (TBS International LTD)
