Common use of Payments to Secured Parties Clause in Contracts

Payments to Secured Parties. (a) If a Finance Party, a Hedging Bank or a Long Term Hedging Bank (a “Recovering Creditor”) makes a Senior Recovery a Hedging Recovery or a Long Term Hedging Recovery, as relevant (the “Recovery”) in respect of any amounts owed by any Obligor other than in accordance with paragraph 19.1 (Order of application) and applies that amount to a payment due under the Finance Documents to which it is a party then: Portions of this exhibit have been omitted pursuant to a request for confidential treatment filed with the Securities and Exchange Commission. The omissions have been indicated by asterisks (“[***]”), and the omitted text has been filed separately with the Securities and Exchange Commission.

Appears in 4 contracts

Samples: Facilities Agreement (Marine Harvest ASA), Facilities Agreement (Marine Harvest ASA), Facilities Agreement (Marine Harvest ASA)

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