Common use of Permitted assurance and receipts Clause in Contracts

Permitted assurance and receipts. Nothing in this Agreement shall restrict the ability of any Primary Creditor, Bondco or Subordinated Creditor to: (a) arrange with any person which is not a member of the Group any assurance against loss in respect of, or reduction of its credit exposure to, a Debtor (including assurance by way of credit based derivative or sub-participation); or (b) make any assignment or transfer permitted by Clause 25 (Changes to the Parties), which: (i) is expressly permitted or not prohibited (as applicable) by each of the Credit Facility Agreement, the Pari Passu Facility Agreements (if any) and the Pari Passu Note Indentures (if any); and (ii) is not in breach of: (A) Clause 5.5 (No acquisition of Hedging Liabilities); or (B) Clause 10.4 (No acquisition of Subordinated Liabilities), and that Primary Creditor, Bondco or Subordinated Creditor shall not be obliged to account to any other Party for any sum received by it as a result of that action.

Permitted assurance and receipts. Nothing in this Agreement shall restrict the ability of any Primary Creditor, Bondco or Subordinated Creditor to: (a) arrange with any person which is not a member of the Group any assurance against loss in respect of, or reduction of its credit exposure to, a Debtor (including assurance by way of credit based derivative or sub-participation); or (b) make any assignment or transfer permitted by Clause 25 (Changes to the Parties), which: (i) is expressly permitted or not prohibited (as applicable) by each of the Credit Facility Agreement, the each Pari Passu Facility Agreements Agreement (if any) and the each Pari Passu Note Indentures Indenture (if any); and (ii) is not in breach of: (A) Clause 5.5 (No acquisition of Hedging Liabilities); or (B) Clause 10.4 (No acquisition of Subordinated Liabilities), and that Primary Creditor, Bondco or Subordinated Creditor shall not be obliged to account to any other Party for any sum received by it as a result of that action.

Permitted assurance and receipts. Nothing in this Agreement shall restrict the ability of any Primary Creditor, Bondco Creditor or Subordinated Creditor to: (a) arrange with any person which is not a member of the Group any assurance against loss in respect of, or reduction of its credit exposure to, a Debtor (including assurance by way of credit based derivative or sub-participation); or (b) make any assignment or transfer permitted by Clause 25 Xxxxxx 22 (Changes to the Parties), which: (i) is expressly permitted or not prohibited by: (as applicableA) by each of the Credit Facility Agreement(s); (B) the Surety Bond Facility Agreement, ; and (C) the Pari Passu Facility Agreements (if anyAgreement(s) and the Pari Passu Note Indentures (if anyIndenture(s); and (ii) is not in breach of: (A) Clause 5.5 6.5 (No acquisition of Hedging Liabilities); or (B) Clause 10.4 9.4 (No acquisition of Subordinated Liabilities), and that Primary Creditor, Bondco Creditor or Subordinated Creditor shall not be obliged to account to any other Party for any sum received by it as a result of that action.