Common use of Realisation Accounts Clause in Contracts

Realisation Accounts. If the Security Trustee (whether by the appointment of a Receiver or otherwise) enforces the Security the Security Trustee (or such Receiver) may: (a) open and maintain with such bank or banks (or other financial institutions) as it thinks fit one or more Realisation Accounts; (b) pay the proceeds of any recoveries effected by it into any such number of Realisation Accounts as it considers appropriate; and (c) subject to the payment of any claims having priority to this Security, withdraw amounts standing to the credit of the Realisation Accounts to: (i) discharge all costs, charges and expenses incurred and payments made by the Security Trustee (or such Receiver) in the course of such enforcement; (ii) pay remuneration to the Receiver as and when the same becomes due and payable; and (iii) discharge the Secured Obligations as and when the same become due and payable.