Non-Discharge Clause Samples
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Non-Discharge. It is further agreed that the penalties described in this Settlement Agreement are non-dischargeable under United States Code, title 11, section 523(a)(7), which provides an exception from discharge for any debt to the extent such debt is for a fine, penalty, or forfeiture payable to and for the benefit of a governmental unit.
Non-Discharge. The Borrower waives any defenses based on suretyship or impairment of Negative Pledge Assets, waives any right of discharge under ss.3-605 of the Code and consents in advance to (i) any extension which the Lender may in its sole discretion hereafter grant in the due date for the payment or performance of any obligation of Borrower hereunder, (ii) any modification for the benefit of Borrower, including a material modification of any obligation of the Borrower hereunder which the Lender may in its sole discretion hereafter grant, (iii) any action taken hereunder which may result in any impairment of the value of any Negative Pledge Assets whether provided by Borrower, including, without limitation, any impairment of collateral as described in subsection 3-605(g) of the Code; (iv) any diligence in collection, the discharge or release of any party hereto or party to any subordination agreement, (v) the discharge or release of any collateral or, all presentment for payment, demand, protest or notice of protest, dishonor or non-payment, or (vi) the granting of any additional credit hereunder without notice.
Non-Discharge. Unless otherwise specifically stated in any discharge of the Security Trust, the provisions of this clause 16 will continue in full force and effect despite such discharge.
Non-Discharge. Neither the obligations of the Original Borrower herein contained nor the rights, powers and remedies conferred in respect of the Original Borrower upon any of the Finance Parties by any of the Finance Documents or by law shall be discharged, impaired or otherwise affected by:
25.4.1 the winding-up, dissolution, administration or reorganisation of any of the Subsidiary Borrowers or any other Person or any change in its status, function, control or ownership;
25.4.2 any of the obligations of any of the Subsidiary Borrowers or any other Person under any of the Finance Documents or under any other security taken in respect of any of its obligations thereunder being or becoming illegal, invalid, unenforceable or ineffective in any respect;
25.4.3 time or other indulgence being granted or agreed to be granted to any of the Subsidiary Borrowers or any other Person in respect of its obligations under any of the Finance Subsidiary Documents or under any such other security;
25.4.4 any amendment to, or any variation, waiver or release of, any obligation of any of the Subsidiary Borrowers or any other Person under any of the Finance Documents or under any such other security; -------------------------------------------------------------------------------- 65
25.4.5 any failure to take, or fully to take, any security contemplated hereby or otherwise agreed to be taken in respect of any of the Subsidiary Borrowers under any of the Finance Documents;
25.4.6 any failure to realise or fully to realise the value of, or any release, discharge, exchange or substitution of, any security taken in respect of any of the Subsidiary Borrowers' obligations under any of the Finance Documents;
25.4.7 the accession of any one or more Acceding Subsidiary Borrowers to this Agreement by means of the procedure set out in clause 26 (Accession and Cessation of Subsidiary Borrowers) or the utilisation of the Facility by any such Acceding Subsidiary Borrower; or
25.4.8 any other act, event or omission which, but for this clause 25.4 (Non-discharge), might operate to discharge, impair or otherwise affect any of the obligations of the Original Borrower herein contained or any of the rights, powers or remedies conferred upon the Finance Parties by this Agreement or by law.
Non-Discharge. Unless otherwise specifically stated in any discharge of the trusts of this Deed the provisions of this clause 13 shall continue in full force and effect despite such discharge. -------------------------------------------------------------------------------- 14 SUPPLEMENTAL SECURITY TRUSTEE PROVISIONS
14.1 ADDITIONAL POWERS, PROTECTIONS, ETC. By way of supplement to any Statute regulating the conduct of the trusts contained in this Deed and in addition to the powers and rights which may from time to time be vested in the Security Trustee by the general law it is expressly declared as follows:
Non-Discharge. The Borrower waives any defenses based on suretyship or impairment of Collateral, waives any right of discharge under ‘3-605 of the Code and consents in advance to (i) any extension which the Lender may in its sole discretion hereafter grant in the due date for the payment or performance of any obligation of Borrower hereunder, (ii) any modification for the benefit of Borrower, including a material modification of any obligation of the Borrower hereunder which the Lender may in its sole discretion hereafter grant, any action taken hereunder which may result in any impairment of the value of any Collateral whether provided by Borrower, including, without limitation, any impairment of collateral as described in subsection 3-605(g) of the Code; (iv) any diligence in collection, the discharge or release of any party hereto or party to any subordination agreement, (v) the discharge or release of any collateral or, all presentment for payment, demand, protest or notice of protest, dishonor or non-payment, or (vi) the granting of any additional credit hereunder without notice.
Non-Discharge. Except for the Guarantor's payment of the Obligations in full as provided for herein, to the greatest extent permitted by the applicable laws and regulations, the Guarantor's obligations hereunder shall not be discharged or affected by any circumstances which might constitute a discharge or defense (including, without limitation, the bankruptcy, composition or reorganization of the Borrower) or the illegality, invalidity, unenforceability, or any defect in the Obligations. The intention of the Guarantor being that this Guarantee is absolute and unconditional in all circumstance.