Common use of DISCHARGE TO BE CONDITIONAL Clause in Contracts

DISCHARGE TO BE CONDITIONAL. Any release, discharge or settlement between the Guarantor and EBRD in relation to this Guarantee shall be conditional upon no right, security, disposition or payment to EBRD by the Guarantor or any other person being void, set aside or ordered to be refunded pursuant to any enactment or law relating to breach of duty by any person, bankruptcy, liquidation, administration, protection from creditors generally or insolvency or for any other reason. If any such right, security, disposition or payment is void or at any time so set aside or ordered to be refunded, EBRD shall be entitled subsequently to enforce this Guarantee against the Guarantor as if such release, discharge or settlement had not occurred and any such security, disposition or payment had not been made.