Common use of Effect on Preferential Claims Clause in Contracts

Effect on Preferential Claims. Nothing in this Deed will affect any Preferential Claim. For the purposes of the application by the Deed Administrator of the Property of the Deed Company coming under their control under this Deed, any Preferential Creditors will be entitled to a priority at least equal to what they would have been entitled if the property were applied in accordance with Section 227 (Preferential Debts) of the Regulations.