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 to: (a) arrange with any person which is not a member of the Group or a Holding Company of any 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 ‎18 (Changes to the Parties), which is not prohibited by the relevant Debt Document and is not in breach of Clause ‎4.5 (No acquisition of Hedging Liabilities) or Clause ‎6.4 (Acquisition of Intra-Group Liabilities) or Clause ‎7.4 (Acquisition of Shareholder Liabilities) and that Primary 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 to: (a) arrange with any person which is not a member of the Group or a Holding Company of any 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 ‎18 19 (Changes to the Parties), which is not prohibited permitted by the relevant Credit Facility Documents, Senior Secured Notes Documents and Pari Passu Debt Document Documents and is not in breach of Clause ‎4.5 7.5 (No acquisition Acquisition of Hedging Liabilities) or Clause ‎6.4 8.4 (Acquisition of Intra-Group Liabilities) or Clause ‎7.4 9.4 (Acquisition of Shareholder Liabilities) and that Primary Creditor shall not be obliged to account to any other Party for any sum received by it as a result of that action.