Protection of Debt upon Turnover Sample Clauses

Protection of Debt upon Turnover. If a Party is obliged to pay an amount to the Security Agent in accordance with this Clause 8, the relevant Debt in respect of which the Party made such payment to the Security Agent will be deemed not to have been reduced or discharged in any way or to any extent by the relevant payment.
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Protection of Debt upon Turnover. If a Transaction Party is obliged to pay an amount in accordance with Clause 5.1 (Turnover by the Transaction Parties) (as applicable), the relevant Debt in respect of which the relevant Debtor made such payment will be deemed not to have been reduced or discharged in any way or to any extent by the relevant payment.
Sample 1

Related to Protection of Debt upon Turnover

  • Margin of Preference and Reservations 32.1 A margin of preference may be allowed on locally manufactured goods only when the contract is open to international tendering, where the tender is likely to attract foreign goods and where the contract exceeds the threshold specified in the Regulations. 32.2 For purposes of granting a margin of preference on locally manufactured goods under international competitive tendering, a procuring entity shall not subject the items listed below to international tender and hence no margin of preference shall be allowed. The affected items are: a) motor vehicles, plant and equipment which are assembled in Kenya; b) furniture, textile, foodstuffs, oil and gas, information communication technology, steel, cement, leather agro-processing, sanitary products, and other goods made in Kenya; or c) goods manufactured, mined, extracted or grown in Kenya. 32.3 A margin of preference shall not be allowed unless it is specified so in the TDS.