Common use of Deferral of Rights Clause in Contracts

Deferral of Rights. 8.1 Until all amounts which may be or become payable by the Agency under or in connection with the Guaranteed Agreement have been paid in full, the Guarantor agrees that, without the prior written consent of the Beneficiary, it will not: ● exercise any rights it may have to be indemnified by the Agency ● claim any contribution from any other guarantor of the Agency’s obligations under the Guaranteed Agreement ● take the benefit (in whole or in part and whether by way of subrogation or otherwise) of any rights of the Beneficiary under the Guaranteed Agreement or of any other guarantee or security taken pursuant to, or in connection with, the Guaranteed Agreement ● demand or accept repayment in whole or in part of any indebtedness now or hereafter due from the Agency or ● claim any set-off or counterclaim against the Agency 8.2 If the Guarantor receives any payment or other benefit, or exercises any set-off or counterclaim, or otherwise acts in breach of this Clause 8, any thing so received and any benefit derived directly or indirectly by the Guarantor therefrom will be held on trust for the Beneficiary and applied in or towards discharge of its obligations to the Beneficiary under this Deed of Guarantee.

Deferral of Rights. 8.1 Until all amounts which may be or become payable by the Agency Supplier under or in connection with the Guaranteed Agreement have been paid in full, the Guarantor agrees that, without the prior written consent of the Beneficiary, it will not: ● exercise any rights it may have to be indemnified by the Agency Supplier ● claim any contribution from any other guarantor of the AgencySupplier’s obligations under the Guaranteed Agreement ● take the benefit (in whole or in part and whether by way of subrogation or otherwise) of any rights of the Beneficiary under the Guaranteed Agreement or of any other guarantee or security taken pursuant to, or in connection with, the Guaranteed Agreement ● demand or accept repayment in whole or in part of any indebtedness now or hereafter due from the Agency Supplier or ● claim any set-off or counterclaim against the AgencySupplier 8.2 If the Guarantor receives any payment or other benefit, or exercises any set-off or counterclaim, or otherwise acts in breach of this Clause 8, any thing so received and any benefit derived directly or indirectly by the Guarantor therefrom will be held on trust for the Beneficiary and applied in or towards discharge of its obligations to the Beneficiary under this Deed of Guarantee.

Deferral of Rights. 8.1 Until all amounts which may be or become payable by the Agency Supplier under or in connection with the Guaranteed Agreement have been paid in full, the Guarantor agrees that, without the prior written consent of the Beneficiary, it will not: ● exercise any rights it may have to be indemnified by the Agency Supplier ● claim any contribution from any other guarantor of the AgencySupplier’s obligations under the Guaranteed Agreement ● take the benefit (in whole or in part and whether by way of subrogation or otherwise) of any rights of the Beneficiary under the Guaranteed Agreement or of any other guarantee or security taken pursuant to, or in connection with, the Guaranteed Agreement ● demand or accept repayment in whole or in part of any indebtedness now or hereafter due from the Agency Supplier or ● claim any set-off or counterclaim against the AgencySupplier 8.2 If the Guarantor receives any payment or other benefit, or exercises any set-off or counterclaim, or otherwise acts in breach of this Clause 8, any thing anything so received and any benefit derived directly or indirectly by the Guarantor therefrom will be held on trust for the Beneficiary and applied in or towards discharge of its obligations to the Beneficiary under this Deed of Guarantee.

Deferral of Rights. 8.1 Until all amounts which may be or become payable by the Agency under Supplier under, or in connection with with, the Guaranteed Agreement Call-Off Contract have been irrevocably paid in full, the Guarantor agrees that, without the prior written consent of the BeneficiaryCCS, it will not: ● - exercise any rights it may have to be indemnified by the Agency ● Supplier - claim any contribution from any other guarantor of the AgencySupplier’s obligations under the Guaranteed Agreement ● Call-Off Contract - take the benefit (in whole or in part and whether by way of subrogation or otherwise) of any rights of the Beneficiary CCS under the Guaranteed Agreement Call-Off Contract or of any other guarantee or security taken pursuant tofollowing, or in connection with, the Guaranteed Agreement ● Call-Off Contract - demand or accept repayment in whole or in part of any indebtedness now or hereafter due from the Agency or ● Supplier - claim any set-off or counterclaim against the Agency 8.2 Supplier If the Guarantor receives any payment or other benefit, benefit or exercises any set-off or counterclaim, counterclaim or otherwise acts in breach of this Clause 8, any thing anything so received and any benefit derived directly or indirectly by the Guarantor therefrom will be held on trust for the Beneficiary CCS and applied in or towards discharge of its obligations to the Beneficiary CCS under this Deed of Guarantee.