Common use of Permitted Payment Clause in Contracts

Permitted Payment. amend clause 4.4(a) of the Intercreditor Agreement to include, for the avoidance of doubt, a new limb for any Hedging Liabilities resulting from a termination or close-out of a hedging transaction that is permitted under Clause 4.4(b) (provided that in relation to any credit related close out, no Default (or a default under any other senior secured debt) has occurred and is continuing).