Common use of Deferral of the Guarantor's rights Clause in Contracts

Deferral of the Guarantor's rights. Until all amounts which may be or become payable by the Borrowers under or in connection with the Finance Documents and any Hedging Agreement have been irrevocably paid in full and unless the Lender otherwise directs, the Guarantor will not exercise any rights which it may have by reason of performance by it of its obligations under the Finance Documents and any Hedging Agreement or by reason of any amount being payable, or liability arising, under this Clause 18 (Guarantee and indemnity): (a) to be indemnified by the Borrowers; (b) to claim any contribution from any other guarantor of the Borrowers' obligations under the Finance Documents or any Hedging Agreement; (c) to take the benefit (in whole or in part and whether by way of subrogation or otherwise) of any rights of the Security Trustee, the Lender or the Hedging Bank under the Finance Documents and any Hedging Agreement or of any other guarantee or security taken pursuant to, or in connection with, the Finance Documents and any Hedging Agreement by the Security Trustee, the Lender or the Hedging Bank; (d) to bring legal or other proceedings for an order requiring the Borrowers to make any payment, or perform any obligation, in respect of which the Guarantor has given a guarantee, undertaking or indemnity under Clause 18.1 (Guarantee and indemnity); (e) to exercise any right of set-off against the Borrowers; and/or (f) to claim or prove as a creditor of the Borrowers in competition with the Security Trustee, the Lender or the Hedging Bank. If the Guarantor 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 Lender and the Hedging Bank by the Borrowers under or in connection with the Finance Documents and any Hedging Agreement to be repaid in full on trust for the Lender and the Hedging Bank and shall promptly pay or transfer the same to the Lender or as the Lender may direct for application in accordance with Clause 29 (Payment mechanics).

Deferral of the Guarantor's rights. Until all amounts which may be or become payable by the Borrowers Obligors under or in connection with the Finance Documents and any the Hedging Agreement Agreements have been irrevocably paid in full and unless the Lender Agent otherwise directs, the no Guarantor will not exercise any rights which it may have by reason of performance by it of its obligations under the Finance Documents and any the Hedging Agreement Agreements or by reason of any amount being payable, or liability arising, under this Clause 18 19 (Guarantee and indemnity): (a) to be indemnified by the Borrowersan Obligor; (b) to claim any contribution from any other guarantor of the Borrowers' any Obligor’s obligations under the Finance Documents or any and the Hedging AgreementAgreements; (c) to take the benefit (in whole or in part and whether by way of subrogation or otherwise) of any rights of the Security Trustee, the Lender or the Hedging Bank Finance Parties under the Finance Documents and or of any other ​ guarantee or security taken pursuant to, or in connection with, the Finance Documents by any Finance Party or any rights of the Hedging Agreement Banks under the Hedging Agreements or of any other guarantee or security taken pursuant to, or in connection with, the Finance Documents and Hedging Agreements by any Hedging Agreement by the Security Trustee, the Lender or the Hedging Bank; (d) to bring legal or other proceedings for an order requiring the Borrowers any Obligor to make any payment, or perform any obligation, in respect of which the that Guarantor has given a guarantee, undertaking or indemnity under Clause 18.1 19.1 (Guarantee and indemnityIndemnity); (e) to exercise any right of set-off against the Borrowersany Obligor; and/or (f) to claim or prove as a creditor of the Borrowers any Obligor in competition with the Security Trustee, the Lender any Finance Party or the any Hedging Bank. If the a Guarantor 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 Lender and the Hedging Bank Finance Parties by the Borrowers Obligors under or in connection with the Finance Documents and any to the Hedging Agreement Banks under or in connection with the Hedging Agreements to be repaid in full on trust for the Lender Finance Parties and the Hedging Bank Banks and shall promptly pay or transfer the same to the Lender Agent or as the Lender Agent may direct for application in accordance with Clause 29 31 (Payment mechanics).

Deferral of the Guarantor's rights. Until all amounts which may be or become payable by the Borrowers Borrower under or in connection with the Finance Documents and any Hedging Agreement have been irrevocably paid in full and unless the Lender Agent otherwise directs, the Guarantor will not exercise any rights which it they may have by reason of performance by it of its obligations under the Finance Documents and any Hedging Agreement or by reason of any amount being payable, or liability arising, under this Clause 18 (Guarantee and indemnity): (a) to be indemnified by the BorrowersBorrower; (b) to claim any contribution from any other guarantor of the Borrowers' Borrower’s obligations under the Finance Documents or any Hedging AgreementDocuments; (c) to take the benefit (in whole or in part and whether by way of subrogation or otherwise) of any rights of the Security Trustee, the Lender or the Hedging Bank Finance Parties under the Finance Documents and any Hedging Agreement or of any other guarantee or security taken pursuant to, or in connection with, the Finance Documents and by any Hedging Agreement by the Security Trustee, the Lender or the Hedging BankFinance Party; (d) to bring legal or other proceedings for an order requiring the Borrowers Borrower to make any payment, or perform any obligation, in respect of which the Guarantor has given a guarantee, undertaking or indemnity under Clause 18.1 (Guarantee and indemnity); (e) to exercise any right of set-off against the BorrowersBorrower; and/or (f) to claim or prove as a creditor of the Borrowers Borrower in competition with the Security Trustee, the Lender or the Hedging Bankany Finance Party. If the Guarantor 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 Lender and the Hedging Bank Finance Parties by the Borrowers Borrower under or in connection with the Finance Documents and any Hedging Agreement to be repaid in full on trust for the Lender and the Hedging Bank Finance Parties and shall promptly pay or transfer the same to the Lender Agent or as the Lender Agent may direct for application in accordance with Clause 29 30 (Payment mechanics).

Deferral of the Guarantor's rights. Until all amounts which may be or become payable by the Borrowers Issuer under or in connection with the Finance Documents and any Hedging Agreement have been irrevocably paid in full and unless the Lender Bond Trustee otherwise directs, the Guarantor will not exercise any rights which it may have by reason of performance by it of its obligations under the Finance Documents and any Hedging Agreement or by reason of any amount being payable, or liability arising, under this Clause 18 (Guarantee and indemnity):Documents: (a) to be indemnified by the BorrowersIssuer; (b) to claim any contribution from any other guarantor of the Borrowers' Issuer's obligations under the Finance Documents or any Hedging AgreementDocuments; (c) to take the benefit (in whole or in part and whether by way of subrogation or otherwise) of any rights of the Security Trustee, the Lender or the Hedging Bank Finance Parties under the Finance Documents and any Hedging Agreement or of any other guarantee or security taken pursuant to, or in connection with, the Finance Documents and any Hedging Agreement by the Security Trustee, the Lender Bond Trustee or the Hedging BankBondholders; (d) to bring legal or other proceedings for an order requiring the Borrowers Issuer to make any payment, or perform any obligation, in respect of which the Guarantor has given a guarantee, undertaking or indemnity under Clause 18.1 8.3 (Guarantee and indemnity); (e) to exercise any right of set-off against the BorrowersIssuer; and/or (f) to claim or prove as a creditor of the Borrowers Issuer in competition with the Security Trustee, the Lender Bond Trustee or the Hedging BankBondholders. If the Guarantor 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 Lender Bond Trustee and the Hedging Bank Bondholders by the Borrowers Issuer under or in connection with the Finance Documents and any Hedging Agreement to be repaid in full on trust for the Lender Bond Trustee and the Hedging Bank Bondholders and shall promptly pay or transfer the same to the Lender or as the Lender may direct Bond Trustee for application in accordance with Clause 29 (Payment mechanics)to the Bondholders.

Deferral of the Guarantor's rights. Until all amounts which may be or become payable by the Borrowers under or in connection with the Finance Documents and any Hedging Agreement Guaranteed Liabilities have been irrevocably paid and satisfied in full and unless the Lender Trustee otherwise directs, the Guarantor will not exercise any rights which it may have by reason of performance by it of its obligations under the Finance Documents and any Hedging Agreement this Deed or by reason of any amount being payable, or liability arising, arising under this Clause 18 (Guarantee and indemnity):Deed: (ai) to be indemnified by the BorrowersSponsor and/or any of the IMPS Employers; (bii) to claim any contribution from any other guarantor of the Borrowers' Sponsor’s and/or any of the IMPS Employers’ obligations under or liabilities to make payments to the Finance Documents or any Hedging AgreementScheme; (ciii) to take the benefit (in whole or in part and whether by way of subrogation or otherwise) of any rights of the Security Trustee, the Lender Trustee or the Hedging Bank Scheme in respect of the Sponsor’s and/or any of the IMPS Employers’ obligations or liabilities to make payments to the Trustee or the Scheme, or under the Finance Documents and any Hedging Agreement or of pursuant to any other guarantee or security taken pursuant to, or in connection with, with such obligations or liabilities of the Finance Documents and Sponsor and/or any Hedging Agreement of the IMPS Employers by the Security Trustee, the Lender or the Hedging Bank; (div) to bring legal or other proceedings for an order requiring the Borrowers Sponsor and/or any of the IMPS Employers to make any payment, or perform any obligation, in respect of which the Guarantor has given a guarantee, undertaking or indemnity under Clause 18.1 (Guarantee and indemnity)this Deed; (ev) to exercise any right of set-off against the BorrowersSponsor and/or any of the IMPS Employers; and/or (fvi) to claim or prove as a creditor of the Borrowers Sponsor and/or any of the IMPS Employers in competition with the Security Trustee, the Lender Trustee or the Hedging BankScheme. If The Guarantor must hold in trust for and immediately pay or transfer to the Guarantor receives Trustee any benefit, payment or distribution in relation or benefit of security received by it contrary to such rights it shall hold that benefit, payment this Clause 20 or distribution to the extent necessary to enable all amounts which may be or become payable to the Lender and the Hedging Bank by the Borrowers under or in connection with the Finance Documents and any Hedging Agreement to be repaid in full on trust for the Lender and the Hedging Bank and shall promptly pay or transfer the same to the Lender or as the Lender may direct for application in accordance with any directions given by the Trustee under this Clause 29 (Payment mechanics)20.