Failure of Trust. If, for any reason, a trust in favour of, or a holding of property for, the Finance Parties under this Deed is invalid or unenforceable, the Junior Creditor will pay and deliver to the Agent an amount equal to the payment, receipt or recovery which the Junior Creditor would otherwise have been bound to hold on trust for or as property of the Finance Parties.
Appears in 3 contracts
Samples: Credit Agreement (Entergy Power Uk PLC), Credit Facility Agreement (System Energy Resources Inc), Credit Facility Agreement (Entergy London Capital Lp)
Failure of Trust. If, for any reason, a trust in favour of, or a holding of property for, the Finance Parties under this Deed is invalid or unenforceable, the Junior Creditor will pay and deliver to the Facility Agent an amount equal to the payment, receipt or recovery which the Junior Creditor would otherwise have been bound to hold on trust for or as property of the Finance Parties.
Appears in 2 contracts
Samples: Credit Facility Agreement (Azurix Corp), Credit Facility (Azurix Corp)
