Common use of Prospective liabilities Clause in Contracts

Prospective liabilities. Following a Distress Event, the Security Agent or Secondary Security Agent (as applicable) may, in its discretion, hold any amount of the Recoveries (as defined in Clause 32 (Application of Proceeds) above) in an interest bearing suspense or impersonal account(s) in the name of the Security Agent or Secondary Security Agent (as applicable) with such financial institution (including itself) and for so long as the Security Agent or Secondary Security Agent (as applicable) shall think fit (the interest being credited to the relevant account) for later application under Clause 32 (Application of Proceeds) in respect of:

Prospective liabilities. Following a Distress Event, the Security Agent or Secondary Security Agent (as applicable) may, in its discretion, hold any amount of the Recoveries (as defined in Clause 32 (Application of Proceeds) above) in an interest bearing a suspense or impersonal account(s) in the name of the Security Agent or Secondary Security Agent (as applicable) with such financial institution (including itself) and for so long as the Security Agent or Secondary Security Agent (as applicable) shall think fit (the interest being credited to the relevant account) for later application under Clause 32 (Application of Proceeds) in respect of: