Common use of Avoidance of security or payment Clause in Contracts

Avoidance of security or payment. (a) If an amount paid to the Master Issuer Security Trustee, the Noteholders or any of the other Master Issuer Secured Creditors under a Master Issuer Transaction Document is capable of being avoided or reduced by virtue of any provisions or enactments relating to bankruptcy, insolvency or liquidation for the time being in force or otherwise, then that amount will not be considered to have been irrevocably paid for the purposes of this Deed.

Avoidance of security or payment. (a) If an amount paid to the Master Issuer Security Trustee, the Noteholders or any of the other Master Issuer Secured Creditors under a Master an Issuer Transaction Document is capable of being avoided or reduced by virtue of any provisions or enactments relating to bankruptcy, insolvency or liquidation for the time being in force or otherwise, then that amount will not be considered to have been irrevocably paid for the purposes of this Deed.

Avoidance of security or payment. (a) If an amount paid to the Master Issuer Security Trustee, the Noteholders or any of the other Master Issuer Secured Creditors under a Master Issuer Transaction Document is capable of being avoided or reduced by virtue of any provisions or enactments relating to bankruptcy, insolvency or liquidation for the time being in force or otherwise, then that amount will not be considered to have been irrevocably paid for the purposes of this Deed.