Common use of Settlements conditional Clause in Contracts

Settlements conditional. Any release, discharge or settlement between the Guarantor and the Bank shall be conditional upon no security, disposition or payment to the Bank 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 Bank shall be entitled to enforce this 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 any of the Guarantor and the Bank Owner shall be conditional upon no security, disposition or payment to the Bank Owner by the Borrower any Security Party 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 administration or for any other reason whatsoever and if such condition shall not be fulfilled the Bank Owner shall be entitled to enforce this 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 Guarantor Shareholder and the Bank shall be conditional upon no security, disposition or payment to the Bank 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 Bank shall be entitled to enforce the security created by this Guarantee subsequently Deed 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 Guarantor and the Bank Lender shall be conditional upon no security, disposition or payment to the Bank Lender 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 Bank Lender shall be entitled to enforce this Guarantee subsequently as if such release, discharge or settlement had not occurred and any such payment had not been made.