Common use of Intercompany Receivables Clause in Contracts

Intercompany Receivables. 9.1 If a Guarantor Company grants security over its intercompany receivables it shall be free to deal with those receivables in the ordinary course of its business or otherwise as permitted under the Secured Documents until an Enforcement Event. 9.2 If required by local law to perfect the security, notice of the security will be served on the relevant lender and/or the borrower within 30 Business Days of the security being granted and the Guarantor Company shall use its reasonable endeavours to obtain an acknowledgement of that notice with 30 Business Days of service. If the Guarantor Company has used its reasonable endeavours but has not been able to obtain acknowledgement its obligation to obtain acknowledgement shall cease on the expiry of that 30 Business Day period. 9.3 Irrespective of whether notice of the security is required for perfection, if the service of notice would prevent the Guarantor Company from dealing with an intercompany receivable in the course of its business, no notice of security shall be served until the occurrence of an Enforcement Event. 9.4 If required under local law and consistent with local standard market practice, security over intercompany receivables will be registered subject to the general principles set out in these Agreed Security Principles. 9.5 No lists of intercompany receivables shall be required to be provided or updated.

Intercompany Receivables. 9.1 8.1 If a Guarantor Company grants security over its intercompany receivables it shall be free to deal with those receivables in the ordinary course of its business or otherwise as permitted under the Secured Documents until an Enforcement Event. 9.2 8.2 If required by local law to perfect the security, notice of the security will be served on the relevant lender and/or the borrower within 30 Business Days of the security being granted and the Guarantor Company shall use its reasonable endeavours to obtain an acknowledgement of that notice with within 30 Business Days of service. If the Guarantor Company has used its reasonable endeavours but has |EU-DOCS\34803319.2|| not been able to obtain acknowledgement its obligation to obtain acknowledgement shall cease on the expiry of that 30 Business Day period. 9.3 8.3 Irrespective of whether notice of the security is required for perfection, if the service of notice would prevent the Guarantor Company from dealing with an intercompany receivable in the course of its business, no notice of security shall be served until the occurrence of an Enforcement Event. 9.4 If required under local law and consistent with local standard market practice, security over intercompany receivables will be registered subject to the general principles set out in these Agreed Security Principles. 9.5 8.4 No lists of intercompany receivables shall be required to be provided or updated.

Intercompany Receivables. 9.1 8.1 If a Guarantor Company grants security over its intercompany receivables it shall be free to deal with those receivables in the ordinary course of its business or otherwise as permitted under the Secured Documents until an Enforcement Event. 9.2 8.2 If required by local law to perfect the security, notice of the security will be served on the relevant lender and/or the borrower within 30 Business Days of the security being granted and the Guarantor Company shall use its reasonable endeavours to obtain an acknowledgement of that notice with within 30 Business Days of service. If the Guarantor Company has used its reasonable endeavours but has not been able to obtain acknowledgement its obligation to obtain acknowledgement shall cease on the expiry of that 30 Business Day period. 9.3 8.3 Irrespective of whether notice of the security is required for perfection, if the service of notice would prevent the Guarantor Company from dealing with an intercompany receivable in the course of its business, no notice of security shall be served until the occurrence of an Enforcement Event. 9.4 If required under local law and consistent with local standard market practice, security over intercompany receivables will be registered subject to the general principles set out in these Agreed Security Principles. 9.5 8.4 No lists of intercompany receivables shall be required to be provided or updated.

Intercompany Receivables. 9.1 If a Guarantor Company grants security Subject to these Security Principles, each Security Provider shall grant Transaction Security over its intercompany receivables it from other Group Members or Obligors but shall be free to deal with those receivables in the ordinary course of its business or otherwise as permitted under the Secured Documents until an Enforcement Event. 9.2 If Acceleration Event has occurred but subject always to the terms of the Finance Documents. Subject to the rest of this paragraph, if required by local law to perfect the securityTransaction Security, notice of the security Transaction Security will be served on the relevant lender and/or the borrower debtor from which such intercompany receivables are owing within 30 5 Business Days of the security Transaction Security being granted over such intercompany receivables and the Guarantor Company applicable Obligor or the Parent shall use its reasonable endeavours to obtain an acknowledgement of that notice with within 30 Business Days of service. If the Guarantor Company has used its reasonable endeavours but has not been able to obtain acknowledgement its obligation to obtain acknowledgement shall cease on the expiry of that 30 Business Day period. 9.3 Irrespective of whether notice of the security Transaction Security is required for perfection, if the service of such notice would prevent any Obligor, the Guarantor Company Parent or Group Member from dealing with an intercompany receivable in the course of its business, no notice of security Transaction Security shall be served until unless an Acceleration Event has occurred and the occurrence relevant Security Agent (acting on the instructions of an Enforcement Event. 9.4 the Majority Lenders) so requests for such notice to be served. If required under local law and consistent with local standard market practicelaw, security Transaction Security over such intercompany receivables will be registered subject to the general principles set out in these Agreed Security Principles. 9.5 No lists of intercompany receivables shall be required to be provided or updated.