Discharge of Secured Obligations. Each of the Obligors agrees that the Secured Obligations shall only be discharged to the extent of the receipts by or recoveries of the Security Agent pursuant to the enforcement of the Transaction Security. Any payment to be made in respect of the Secured Obligations by the Security Agent may be made to the Agent and any payment so made shall be a good discharge to the extent of such payment, to the Security Agent.
Appears in 5 contracts
Samples: Facility Agreement (Innospec Inc.), Facility Agreement (Octel Corp), Revolving Facility Agreement (Innospec Inc.)
