Common use of Collection of Debts and Related Matters Clause in Contracts

Collection of Debts and Related Matters. Each Company shall at all times during the subsistence of the security created by this Debenture. (a) get in and realise its Debts (other than credit balances on any bank accounts)in the ordinary and usual course of its business and hold the proceeds of such getting in and realisation thereof (until payment into the Special Accounts as hereinafter provided) upon trust for the Security Trustee; and (b) unless the Security Trustee otherwise agrees in writing, pay the proceeds of such getting in and realisation of its Debts into the Special Accounts. (c) Each Company shall not at any time during the subsistence of the security created by this Debenture, unless otherwise permitted to do so pursuant to the Credit Agreements, without the prior written consent of the Security Trustee charge assign or secure the Debts in favour of a third party or deal with the Debts (other than credit balances on bank accounts) otherwise than by getting in and realising the same and making payment thereof into the Special Accounts or as the Security Trustee may require. Without prejudice to the generality of the foregoing, each Company shall not at any such time factor or discount any of the debts or enter into any agreement for such factoring or discounting. (d) Prior to an Event of Default any moneys in respect of the Debts (other than credit balances on bank accounts) received by a Company and paid into any of

Collection of Debts and Related Matters. (a) Each Company shall at all times during the subsistence of the security created by this Debenture.: (ai) get in and realise its Debts (other than credit balances on any bank accounts)in accounts) in the ordinary and usual course of its business and hold the proceeds of such getting in and realisation thereof (until payment into the Special Accounts as hereinafter provided) upon trust for the Security Trustee; and (bii) unless the Security Trustee otherwise agrees in writing, pay the proceeds of such getting in and realisation of its Debts into the Special Accounts. (cb) Each Company shall not at any time during the subsistence of the security created by this Debenture, unless otherwise permitted to do so pursuant to the Credit AgreementsAgreement, without the prior written consent of the Security Trustee charge assign or secure the Debts in favour of a third party or deal with the Debts (other than credit balances on bank accounts) otherwise than by getting in and realising the same and making payment thereof into the Special Accounts or as the Security Trustee may require. Without prejudice to the generality of the foregoing, each Company shall not at any such time factor or discount any of the debts or enter into any agreement for such factoring or discounting. (dc) Prior to an Event of Default Default, any moneys in respect of the Debts (other than credit balances on bank accounts) received by a Company and paid into any ofof the Special Accounts of the relevant Company in accordance with the requirements of this Clause 4.2 (Collection of Debit and Related Matters) shall upon being paid into such Special Accounts be automatically released from the fixed charge created by Clause 3.1(b) (Fixed Charges) and shall become subject to the floating charge created by Clause 3.