Common use of Financial Collateral Clause in Contracts

Financial Collateral. (a) To the extent that the assets mortgaged or charged under this Deed constitute “financial collateral” and this Deed and the obligations of the Chargors under this Deed constitute a “security financial collateral arrangement” (in each case for the purpose of and as defined in the Financial Collateral Arrangements (No. 2) Regulations 2003 (SI 2003 No. 3226)) the Collateral Agent shall have the right after this Security has become enforceable to appropriate all or any part of that financial collateral in or towards the satisfaction of the Secured Obligations. (b) For the purpose of paragraph (a) above, the value of the financial collateral appropriated shall be such amount as the Collateral Agent reasonable determines having taken into account advice obtained by it from an independent investment or accountancy firm of national standing selected by it.

Financial Collateral. (a) To the extent that the assets mortgaged or charged under this Deed constitute “financial collateral” and this Deed and the obligations of the Chargors Chargor under this Deed constitute a “security financial collateral arrangement” (in each case for the purpose of and as defined in the Financial Collateral Arrangements (No. 2No.2) Regulations 2003 (SI 2003 No. 3226)) the Collateral Agent Chargee shall have the right after this Security has become enforceable to appropriate all or any part of that financial collateral in or towards the satisfaction of the Secured ObligationsLiabilities. (b) For the purpose of paragraph (a) above, the value of the financial collateral appropriated shall be such amount as the Collateral Agent Chargee reasonable determines having taken into account advice obtained by it from an independent investment or accountancy firm of national standing selected by it.

Financial Collateral. (a) To the extent that the assets mortgaged or charged under this Deed constitute “financial collateral” and this Deed and the obligations of the Chargors Parent under this Deed constitute a “security financial collateral arrangement” (in each case for the purpose of and as defined in the Financial Collateral Arrangements (No. 2) Regulations 2003 (SI 2003 No. 3226)) the Collateral Security Agent shall have the right after this Security has become enforceable in accordance with Clause 52.1 (Timing) to appropriate all or any part of that financial collateral in or towards the satisfaction of the Secured Obligations. (b) For the purpose of paragraph (a) above, the value of the financial collateral appropriated shall be such amount as the Collateral Security Agent reasonable reasonably determines having taken into account advice obtained by it from an independent investment or accountancy firm of national standing selected by it.

Financial Collateral. (a) To the extent that the assets mortgaged or charged under this Deed constitute “financial collateral” and this Deed and the obligations of the Chargors Owner under this Deed constitute a “security financial collateral arrangement” (in each case for the purpose of and as defined in the Financial Collateral Arrangements (No. 2) Regulations 2003 (SI 2003 No. 3226)) the Collateral Security Agent shall have the right after this Security has become enforceable in accordance with Clause 52.1 (Timing) to appropriate all or any part of that financial collateral in or towards the satisfaction of the Secured Obligations. (b) For the purpose of paragraph (a) above, the value of the financial collateral appropriated shall be such amount as the Collateral Security Agent reasonable reasonably determines having taken into account advice obtained by it from an independent investment or accountancy firm of national standing selected by it.