Common use of Prospective liabilities Clause in Contracts

Prospective liabilities. Following a Distress Event the Common Security Agent may, in its discretion hold any amount of the Recoveries in one or more interest bearing suspense or impersonal accounts in the name of the Common Security Agent with such financial institution (including itself) as the Common Security Agent shall think fit (the interest being credited to the relevant account for so long as the Common Security Agent shall think fit for later application under Clause 19.1 (Order of application) in respect of: (a) any sum to the Common Security Agent, any Receiver or any Delegate; and (b) any part of the Liabilities, that the Common Security Agent reasonably considers, in each case, might become due or owing at any time in the future.

Prospective liabilities. Following a Distress Event the Common Security Agent may, in its discretion hold any amount of the Recoveries in one or more interest bearing suspense or impersonal accounts in the name of the Common Security Agent with such financial institution (including itself) as the Common Security Agent shall think fit (the interest being credited to the relevant account for so long as the Common Security Agent shall think fit fit) for later application under Clause 19.1 (Order of application) in respect of: (a) any sum to the Common Security Agent, any Receiver or any Delegate; and (b) any part of the Liabilities, that the Common Security Agent reasonably considers, in each case, might become due or owing at any time in the future.