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.
Appears in 3 contracts
Samples: Intercreditor Agreement, Intercreditor Agreement, Intercreditor Agreement
Protection of Debt upon Turnover. If a Party is obliged to pay an amount to the Security Agent in accordance with this Clause 87, 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.
Appears in 2 contracts
Protection of Debt upon Turnover. If a Party is obliged to pay an amount to the Security Agent in accordance with this Clause 810, the relevant Debt in respect of which the Party made such payment to the Security Agent (or as the Security Agent may direct) will be deemed not to have been reduced or discharged in any way or to any extent by the relevant payment.
Appears in 1 contract
Samples: Intercreditor Agreement
