Common use of Settlements conditional Clause in Contracts

Settlements conditional. Any release, discharge or settlement between the Creditor and the Security Trustee or any of the Beneficiaries shall be conditional upon no security, disposition or payment to the Security Trustee, or any of the Beneficiaries by the Borrower or any other person liable being void, set aside or ordered to be refunded pursuant to any enactment or law relating to bankruptcy, liquidation, administration or insolvency or for any other reason whatsoever and if such condition shall not be fulfilled the Security Trustee shall be entitled to enforce this Deed subsequently as if such release, discharge or settlement had not occurred and any such payment had not been made.

Settlements conditional. Any release, discharge or settlement between the Creditor Shareholder and the Security Trustee or any of the Beneficiaries shall be conditional upon no security, security disposition or payment to the Security Trustee, or any of the Beneficiaries Trustee by the Borrower Corporation, the Shareholder or any other person liable being void, void or set aside or ordered to be refunded pursuant to any enactment provisions or law enactments relating to bankruptcy, liquidation, administration or insolvency or for any other reason whatsoever and if such condition shall not be fulfilled fulfilled, the Security Trustee shall be entitled to enforce the security created by this Deed subsequently and the other Security Documents as if such release, settlement or discharge or settlement had not occurred and any such payment had not been made.

Settlements conditional. Any release, discharge or settlement between the Creditor Guarantor and the Security Trustee or any of the Beneficiaries shall be conditional upon no security, disposition or payment to the Security Trustee, or any of the Beneficiaries Trustee by the Borrower or any other person liable being void, set aside or ordered to be refunded pursuant to any enactment or law relating to bankruptcy, liquidation, insolvency or administration or insolvency or for any other reason whatsoever and if such condition shall not be fulfilled the Security Trustee shall be entitled to enforce this Deed Guarantee subsequently as if such release, discharge or settlement had not occurred and any such payment had not been made.

Settlements conditional. Any release, discharge or settlement between the Creditor Company and the Security Trustee or any of the Beneficiaries shall be conditional upon no security, disposition or payment to the Security Trustee, Trustee or any of the Beneficiaries by the Borrower Company or any other person liable being void, set aside or ordered to be refunded pursuant to any enactment or law relating to bankruptcy, liquidation, administration or insolvency or for any other reason whatsoever and if such condition shall not be fulfilled the Security Trustee shall be entitled to enforce this Deed Assignment subsequently as if such release, discharge or settlement had not occurred and any such payment had not been made.

Settlements conditional. Any release, discharge or settlement between the Creditor and the Security Trustee or any of the New Beneficiaries shall be conditional upon no security, disposition or payment to the Security Trustee, or any of the New Beneficiaries by the Borrower or any other person liable being void, set aside or ordered to be refunded pursuant to any enactment or law relating to bankruptcy, liquidation, administration or insolvency or for any other reason whatsoever and if such condition shall not be fulfilled the Security Trustee shall be entitled to enforce this Deed subsequently as if such release, discharge or settlement had not occurred and any such payment had not been made.