Pro Tanto Discharge Sample Clauses
A Pro Tanto Discharge clause provides that when a party receives a partial payment or partial satisfaction of a debt or obligation, the obligation is reduced only by the amount actually received, rather than being fully discharged. For example, if a creditor receives a partial payment from one of several debtors, the remaining balance is still owed by the other debtors or by the same debtor. This clause ensures that the creditor retains the right to pursue the outstanding balance, thereby protecting their interests and preventing unintended full release of the obligation due to partial performance.
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Pro Tanto Discharge. Any payment made directly to the Depositary ------------------- Agent under this Equity Support Guarantee shall be deemed to be payment of the Guaranteed Obligation of the relevant Subject Affiliate Partner and shall satisfy the obligation of such Subject Affiliate Partner to the Company and the Depositary Agent under the relevant Subject Equity Funding Agreement pro tanto --- ----- (subject to Section 2.03 hereof).
Pro Tanto Discharge. Any payment made directly to the Depositary ------------------- Agent under this Master Guarantee shall be deemed to be payment by the Guaranteed Obligor of the related Master Guaranteed Obligation pro tanto --- ----- (subject to Section 2.03 hereof).