Deferral of Chargors’ rights. Until all the Secured Liabilities have been irrevocably paid in full and all transactions which might give rise to Secured Liabilities have terminated and/or completed and unless Investor otherwise directs, Chargor will not exercise any rights which it may have by reason of performance by it of its obligations under the Transaction Documents or by reason of any amount being payable or liability arising, under this Deed:
(a) to be indemnified by Obligor;
(b) to claim any contribution from any other provider of security for or guarantor of any other Obligor’s obligations under the Transaction Documents;
(c) to take the benefit (in whole or in part and whether by way of subrogation or otherwise) of any rights of Investor under the Transaction Documents or of any other guarantee or security taken pursuant to, or in connection with, the Transaction Documents by Investor;
(d) to bring legal or other proceedings for an order requiring any Obligor to make any payment, or perform any obligation, in respect of which Chargor has given a guarantee, undertaking or indemnity;
(e) to exercise any right of set-off against any Obligor; and/or
(f) to claim or prove as a creditor of any Obligor in competition with Investor. If Chargor receives any benefit, payment or distribution in relation to such rights, it shall hold that benefit, payment or distribution to the extent necessary to enable all amounts which may be or become payable to Investor by the Obligors under or in connection with the Transaction Documents to be repaid in full on trust for Investor and shall promptly pay or transfer the same to Investor or as Investor may direct for application in accordance with Clause 11.2 (Order of Distributions).
Deferral of Chargors’ rights. Until all the Obligations have been irrevocably paid or discharged in full, the Chargor will not exercise any rights which it may have by reason of performance by it of its obligations under this Deed:
(a) to be indemnified by any person;
(b) to claim any contribution from any other provider of any Encumbrance for or any other guarantor of any person’s obligations under or in connection with this Deed and/or
(c) to take the benefit (in whole or in part and whether by way of subrogation or otherwise) of any rights of the Chargee or of any guarantee or Encumbrance taken pursuant to, or in connection with, this Deed. The Chargor must hold in trust for and immediately pay or transfer to the Chargee any payment or distribution or benefit of any Encumbrance received by it contrary to this Clause or in accordance with any directions given by the Chargee under this Clause.
Deferral of Chargors’ rights. (a) Until all amounts which may be or become payable by the Loan Parties under or in connection with the Loan Documents have been irrevocably paid in full and unless the Collateral Agent otherwise directs (in which case it shall take such action as it is directed), no Chargor will exercise any rights which it may have by reason of performance by it of its obligations under the Loan Documents:
(i) to be indemnified by a Loan Party;
(ii) to claim any contribution from any other Chargor of any Loan Party’s obligations under the Loan Documents; and/or
(iii) to take the benefit (in whole or in part and whether by way of subrogation or otherwise) of any rights of any Secured Party under the Loan Documents or of any other guarantee or security taken pursuant to, or in connection with, the Loan Documents by any Secured Party.
(b) If a Chargor receives any benefit, payment or distribution in relation to such rights it shall hold that benefit, payment or distribution to the extent necessary to enable all amounts which may be or become payable to the Secured Parties by the Loan Parties under or in connection with the Loan Documents to be repaid in full on trust for the Secured Parties and shall promptly pay or transfer the same to the Collateral Agent or as the Collateral Agent may direct.
Deferral of Chargors’ rights. During the Security Period and unless the Administrative Agent otherwise directs, no Chargor shall exercise any rights which it may have by reason of performance by it of its obligations under this Deed or the enforcement of the Security created by this Deed:
16.6.1 to exercise any right of set-off against any Loan Party; and/or
16.6.2 to claim or prove as a creditor of any Loan Party in competition with any Secured Party.
Deferral of Chargors’ rights. Until all Secured Obligations have been irrevocably and unconditionally paid and discharged in full or the Collateral Trustee otherwise directs, no Chargor will exercise any rights which it may have (by reason of performance by its obligations under the Priority Lien Documents) or by reason of any amount being payable, or liability arising, under this Deed:
(a) to be indemnified by any other Issuer or Guarantor;
(b) to claim any contribution or payment from any other provider of Security or surety of any Issuer or Guarantor’s obligations under the Priority Lien Documents;
(c) to take the benefit (in whole or in part and whether by way of subrogation or otherwise) of any rights of any Secured Parties under the Priority Lien Documents or of any other Security or guarantee taken pursuant to, or in connection with, the Priority Lien Documents by any Secured Party;
(d) to bring legal or other proceedings for an order requiring any other Issuer or Guarantor to make any payment, or perform any obligation, in respect of which any Chargor has given a guarantee, undertaking or indemnity under this Deed;
(e) to exercise any right of set-off against any Issuer or Guarantor; and/or
(f) to claim or prove as a creditor of any Issuer or Guarantor in competition with any Secured Party. Such Chargor shall hold any benefit, payment or distribution received by it in relation to such rights on trust for the Secured Parties and shall pay an amount equal to the benefit, payment or distribution received immediately to the Collateral Trustee.
Deferral of Chargors’ rights. (a) Until all amounts which may be or become payable by the Loan Parties under or in connection with the Loan Documents have been irrevocably paid in full and unless the Collateral Agent otherwise directs (in which case It shall take such action as it is directed), no Chargor will exercise any rights which it may have by reason of performance by it of its obligations under the Loan Documents:
Deferral of Chargors’ rights. Until all Secured Obligations have been irrevocably and unconditionally paid and discharged in full or the ABL Agent otherwise directs, no Chargor will exercise any rights which it may have (by reason of performance by its obligations under the Loan Documents) or by reason of any amount being payable, or liability arising, under this Deed:
(a) to be indemnified by any other Obligor;
(b) to claim any contribution or payment from any other provider of Security or surety of any Obligor’s obligations under the Loan Documents;
(c) to take the benefit (in whole or in part and whether by way of subrogation or otherwise) of any rights of any Secured Parties under the Loan Documents or of any other Security or guarantee taken pursuant to, or in connection with, the Loan Documents by any Secured Party;
(d) to bring legal or other proceedings for an order requiring any other Obligor to make any payment, or perform any obligation, in respect of which any Chargor has given a guarantee, undertaking or indemnity under this Deed;
(e) to exercise any right of set-off against any Obligor; and/or
(f) to claim or prove as a creditor of any Obligor in competition with any Secured Party. Such Chargor shall hold any benefit, payment or distribution received by it in relation to such rights on trust for the Secured Parties and shall pay an amount equal to the benefit, payment or distribution received immediately to the ABL Agent.
Deferral of Chargors’ rights. Until the expiry of the Security Period, and unless the UK Security Agent otherwise directs, no Chargor will exercise any rights which it may have by reason of performance by it of its obligations under the Loan Documents:
(a) to be indemnified by any other Chargor;
(b) to claim any contribution from any other guarantor of any Chargor’s obligations under the Loan Documents; and/or
(c) to take the benefit (in whole or in part and whether by way of subrogation or otherwise) of any of the UK Security Agent’s rights under the Loan Documents or of any other guarantee or security taken pursuant to, or in connection with, the Loan Documents by the UK Security Agent.
Deferral of Chargors’ rights. Until all the Secured Obligations have been irrevocably paid in full and unless the Collateral Agent otherwise directs, none of the Chargors will exercise any rights which it may have by reason of performance by it of its obligations under the Transaction Documents:
Deferral of Chargors’ rights. Until all the Secured Liabilities have been irrevocably paid in full and unless the Lender otherwise directs, the Chargor will not exercise any rights which it may have by reason of performance by it of its obligations under the Financing Agreements:
(a) to be indemnified by any Obligor;
(b) to claim any contribution from any other guarantor of any Obligor's obligations under the Financing Agreements; and/or
(c) to take the benefit (in whole or in part and whether by way of subrogation or otherwise) of any of the Lender's rights under the Financing Agreements or of any other guarantee or security taken pursuant to, or in connection with, the Financing Agreements by the Lender.
