Common use of Prospective liabilities Clause in Contracts

Prospective liabilities. Following a Distress Event the Security Agent may, in its discretion, hold any amount of the Group Recoveries not in excess of the Expected Amount (as defined below) in an interest bearing suspense or impersonal account(s) in the name of the Security Agent with such financial institution (including itself) and for so long as the Security Agent shall think fit until otherwise directed by an Instructing Group (provided that the Security Agent is not obliged to act on such instructions given by an Instructing Group with respect to an Expected Amount that the Security Agent reasonably believes might become owing to it) (the interest being credited to the relevant account) for later application under Clause 18.1 (Order of Application of Group Recoveries) in respect of: (a) any sum to any Security Agent, any Receiver or any Delegate; and (b) any part of the Liabilities, the Agent Liabilities or the Arranger Liabilities, that the Security Agent reasonably considers, in each case, might become due or owing at any time in the future (the “Expected Amount”).

Prospective liabilities. Following a Distress Event the Security Agent may, in its discretion, shall hold any amount of the Group Recoveries that is in the form of cash and not in excess of the Expected Amount (as defined below) in an interest bearing suspense or impersonal account(s) in the name of the Security Agent with such financial institution (including itself) and for so long as the Security Agent shall think fit until otherwise directed by an Instructing Group (provided that the Security Agent is not obliged to act on such instructions given by an Instructing Group with respect to an Expected Amount that the Security Agent reasonably believes might become owing to it) (the interest being credited to the relevant account) for later application under Clause 18.1 ‎13.1 (Order of Application application of Group Recoveries) in respect of: (a) any sum to any Security Agent, any Receiver or any Delegate; and (b) any part of the Liabilities, the Agent Liabilities or the Arranger Agent Liabilities, that the Security Agent reasonably considers, in each case, might become due or owing at any time in the future (the “Expected Amount”).

Prospective liabilities. Following a Distress Event the Security Agent may, in its discretion, hold any amount of the Group Recoveries not in excess of the Expected Amount (as defined below) in an interest bearing suspense or impersonal account(s) in the name of the Security Agent with such financial institution (including itself) and for so long as the Security Agent shall think fit until otherwise directed by an Instructing Group (provided that the Security Agent is not obliged to act on such instructions given by an Instructing Group with respect to an Expected Amount that the Security Agent reasonably believes might become owing to it) (the interest being credited to the relevant account) for later application under Clause 18.1 (Order of Application of Group Recoveries) in respect of: (a) any sum to any Security Agent, any Receiver or any Delegate; and (b) any part of the Liabilities, the Agent Liabilities or the Arranger Liabilities, that the Security Agent reasonably considers, in each case, might become due or owing at any time in the future (the “Expected Amount”).. 84894163_20

Prospective liabilities. Following a Distress Event Event, the Security Agent may, in its discretion, hold any amount of the Group Recoveries not in excess of the Expected Amount (as defined below) in an interest bearing suspense or impersonal account(s) in the name of the Security Agent with such financial institution (including itself) and for so long as the Security Agent shall think fit until otherwise directed by an Instructing Group (provided that the Security Agent is not obliged to act on such instructions given by an Instructing Group with respect to an Expected Amount that the Security Agent reasonably believes might become owing to it) (the interest being credited to the relevant account) for later application under Clause 18.1 14.1 (Order of Application application of Group Recoveries) in respect of: (a) any sum due to any Security Agent, any Receiver or any Delegate; and (b) any part of the Liabilities, the Agent Liabilities or the Arranger Liabilities, that the Security Agent reasonably considersconsiders (having received legal advice to such effect), in each case, might become due or owing at any time in the future (the “Expected Amount”).