NO WAY DONT USE IT!!!
The thermal pads are poor at best, a scuffed/torn one may let your CPU melt at worst.
Do the Arctic Silver thing as said. Ensure all pad is removed, try not to scratch surface, put a smidgin on the HS, spread it around so it will contact with all your CPU, then wipe it off best you can with a credit card.
You should have no paste between any areas of the CPU and HS that want to make contact, only in the furrows.
Fit HS to CPU and gently wiggle to fill in the gaps. Jobs a done 'un!
Peace