Common use of FUNDING'S WAIVERS Clause in Contracts

FUNDING'S WAIVERS. Funding undertakes to the Issuer that it will waive and abandon: (a) any right which it has or may have at any time under the existing or future laws of Jersey, whether by virtue of the droit de discussion or otherwise, which requires that recourse be had to the assets of any other person before any claim is enforced against Funding in respect of Funding's obligations hereunder; and (b) any right which it at any time has or may have under the existing or future laws of Jersey, whether by virtue of the droit de division or otherwise, which requires that any liability under the indemnity in Clause 15.5 above be divided or apportioned with any other person or reduced in any manner whatsoever.