BENEFICIARY AUTHORISED TO PROVE. Until the Beneficiary shall have received one hundred cents in the dollar in respect of the indebtedness of the Debtor in relation to the Guaranteed Money, the Guarantor authorises the Beneficiary to: (a) prove or claim for all money which the Guarantor has paid or are otherwise owing to the Guarantor and have not been repaid by the Debtor or any other guarantor of the Debtor or any other person; and (b) retain and to carry to a suspense account and appropriate at the discretion of the Beneficiary any amount received.
Appears in 5 contracts
Samples: Management Agreement (Fletcher Challenge Forests LTD), Infrastructure Agreement (Fletcher Challenge Forests LTD), Management Agreement (Fletcher Challenge Forests LTD)
