Common use of Recovering Creditor’s rights Clause in Contracts

Recovering Creditor’s rights. (a) Any amount paid or distributed by a Creditor (a “Recovering Creditor”) to the Collateral Agent under Clause 4 (Effect of Insolvency Event) or Clause 5 (Turnover of Receipts) shall be treated as having been paid or distributed by the relevant Debtor and shall be applied by the Collateral Agent in accordance with Clause 12 (Application of Proceeds). (b) On an application by the Collateral Agent pursuant to Clause 12 (Application of Proceeds) of a Payment or distribution received by a Recovering Creditor from a Debtor, as between the relevant Debtor and the Recovering Creditor an amount equal to the amount received or recovered by the Recovering Creditor and paid or distributed to the Collateral Agent by the Recovering Creditor (the “Shared Amount”) will be treated as not having been paid or distributed by that Debtor.

Recovering Creditor’s rights. (a) Any amount paid or distributed by a Creditor (a “Recovering Creditor”) to the Collateral Security Agent under Clause 4 ‎8 (Effect of Insolvency Event) or Clause 5 ‎‎9 (Turnover of Receipts) shall be treated as having been paid or distributed by the relevant Debtor and shall be applied by distributed to the Collateral Agent Security Agent, the other Agents and the other Primary Creditors (each a “Sharing Creditor”) in accordance with Clause 12 (Application the terms of Proceeds)this Agreement. (b) On an application a distribution by the Collateral Security Agent pursuant to Clause 12 (Application of Proceedsunder paragraph ‎(a) above of a Payment or distribution received by a Recovering Creditor from a Debtor, as between the relevant Debtor and the Recovering Creditor an amount equal to the amount received or recovered by the Recovering Creditor and paid or distributed to the Collateral Security Agent by (as the Recovering Creditor case may be) (the “Shared Amount”) will be treated as not having been paid or distributed by that Debtor.

Recovering Creditor’s rights. (a) Any amount paid or distributed by a Creditor (a “Recovering Creditor”) to the Collateral Security Agent under Clause 4 6 (Effect of Insolvency Event) or Clause 5 7 (Turnover of Receipts) shall be treated as having been paid or distributed by the relevant Debtor and shall be applied by the Collateral Security Agent in accordance with Clause 12 14 (Application of Proceeds). (b) On an application by the Collateral Security Agent pursuant to Clause 12 14 (Application of Proceeds) of a Payment or distribution received by a Recovering Creditor from a Debtor, as between the relevant Debtor and the Recovering Creditor an amount equal to the amount received or recovered by the Recovering Creditor and paid or distributed to the Collateral Security Agent by the Recovering Creditor (the “Shared Amount”) will be treated as not having been paid or distributed by that Debtor.

Recovering Creditor’s rights. (aA) Any amount paid or distributed by a Creditor (a “Recovering Creditor”) to the Collateral Security Agent under Clause 4 5 (Effect of Insolvency Event) or Clause 5 6 (Turnover of Receipts) shall be treated as having been paid or distributed by the relevant Debtor Obligor and shall be applied by distributed to the Collateral Agent Security Agent, Agents, Arrangers and Creditors (each a “Sharing Creditor”) in accordance with Clause 12 (Application the terms of Proceeds)this Agreement. (bB) On an application a distribution by the Collateral Security Agent pursuant to Clause 12 under paragraph (Application of ProceedsA) above of a Payment or distribution received by a Recovering Creditor from a Debtoran Obligor, as between the relevant Debtor Obligor and the Recovering Creditor an amount equal to the amount received or recovered by the Recovering Creditor and paid or distributed to the Collateral Security Agent by the Recovering Creditor (the “Shared Amount”) will be treated as not having been paid or distributed by that DebtorObligor.

Recovering Creditor’s rights. (a) Any amount paid or distributed by a Secured Creditor (a “Recovering Creditor”) to the Collateral Common Security Agent under Clause 4 5 (Effect of Insolvency Event) or Clause 5 6 (Turnover of Receipts) shall be treated as having been paid or distributed by the relevant Debtor Company and shall be applied by the Collateral Common Security Agent in accordance with Clause 12 (Application of Proceeds). (b) On an application by the Collateral Common Security Agent pursuant to Clause 12 (Application of Proceeds) of a Payment or distribution received by a Recovering Creditor from a Debtorthe Company, as between the relevant Debtor Company and the Recovering Creditor an amount equal to the amount received or recovered by the Recovering Creditor and paid or distributed to the Collateral Common Security Agent by the Recovering Creditor (the “Shared Amount”) will be treated as not having been paid or distributed by that Debtorthe Company.

Recovering Creditor’s rights. (a) Any amount paid or distributed by a Creditor (a “Recovering Creditor”) to the Collateral Security Agent under Clause 4 7 (Effect of Insolvency Event) or Clause 5 8 (Turnover of Receipts) shall be treated as having been paid or distributed by the relevant Debtor and shall be applied by distributed to the Collateral Security Agent and Primary Creditors (each a Sharing Creditor) in accordance with Clause 12 (Application the terms of Proceeds)this Agreement. (b) On an application a distribution by the Collateral Security Agent pursuant to Clause 12 under paragraph (Application of Proceedsa) above of a Payment or distribution received by a Recovering Creditor from a Debtor, as between the relevant Debtor and the Recovering Creditor an amount equal to the amount received or recovered by the Recovering Creditor and paid or distributed to the Collateral Security Agent by the Recovering Creditor (the “Shared Amount”) will be treated as not having been paid or distributed by that Debtor.

Recovering Creditor’s rights. (a) Any amount paid or distributed by a Creditor (a “Recovering Creditor”) to the Collateral Agent Security Trustee under Clause 4 6 (Effect of Insolvency Event) or Clause 5 7 (Turnover of Receipts) shall be treated as having been paid or distributed by the relevant Debtor Obligor and shall be applied by distributed to the Collateral Agent Security Trustee, Agents, Arrangers and Creditors (each a “Sharing Creditor”) in accordance with Clause 12 (Application the terms of Proceeds)this Agreement. (b) On an application a distribution by the Collateral Agent pursuant to Clause 12 Security Trustee under paragraph (Application of Proceedsa) above of a Payment or distribution received by a Recovering Creditor from a Debtoran Obligor, as between the relevant Debtor Obligor and the Recovering Creditor an amount equal to the amount received or recovered by the Recovering Creditor and paid or distributed to the Collateral Agent by the Recovering Creditor Security Trustee (the “Shared Amount”) will be treated as not having been paid or distributed by that DebtorObligor.

Recovering Creditor’s rights. (a) Any amount paid or distributed by a Creditor (a “Recovering Creditor”) to the Collateral Security Agent under Clause 4 10 (Effect of Insolvency Event) or Clause 5 11 (Turnover of Receipts) shall be treated as having been paid or distributed by the relevant Debtor and shall be applied by the Collateral Security Agent in accordance with Clause 12 17 (Application of Proceeds). (b) On an application by the Collateral Security Agent pursuant to Clause 12 17 (Application of Proceeds) of a Payment or distribution received by a Recovering Creditor from a Debtor, as between the relevant Debtor and the Recovering Creditor an amount equal to the amount received or recovered by the Recovering Creditor and paid or distributed to the Collateral Security Agent by the Recovering Creditor (the “Shared Amount”) will be treated as not having been paid or distributed by that Debtor.

Recovering Creditor’s rights. (a) Any amount paid or distributed by a Creditor (a “Recovering Creditor”) to the Collateral Security Agent under Clause 4 7 (Effect of Insolvency Event) or Clause 5 8 (Turnover of Receipts) shall be treated as having been paid or distributed by the relevant Debtor and shall be applied by the Collateral Security Agent in accordance with Clause 12 16 (Application of Proceeds). (b) On an application by the Collateral Security Agent pursuant to Clause 12 16 (Application of Proceeds) of a Payment or distribution received by a Recovering Creditor from a Debtor, as between the relevant Debtor and the Recovering Creditor an amount equal to the amount received or recovered by the Recovering Creditor and paid or distributed to the Collateral Security Agent by the Recovering Creditor (the “Shared Amount”) will be treated as not having been paid or distributed by that Debtor.

Recovering Creditor’s rights. (a) Any amount paid or distributed by a Creditor (a “Recovering Creditor”) to the Collateral Security Agent under Clause 4 9 (Effect of Insolvency Event) or Clause 5 11 (Turnover of Receipts) shall be treated as having been paid or distributed by the relevant Debtor and shall be applied by the Collateral Security Agent in accordance with Clause 12 17 (Application of Proceeds). (b) On an application by the Collateral Security Agent pursuant to Clause 12 17 (Application of Proceeds) of a Payment or distribution received by a Recovering Creditor from a Debtor, as between the relevant Debtor and the Recovering Creditor an amount equal to the amount received or recovered by the Recovering Creditor and paid or distributed to the Collateral Security Agent by the Recovering Creditor (the “Shared Amount”) will be treated as not having been paid or distributed by that Debtor.

Recovering Creditor’s rights. (a) Any amount paid or distributed by a Creditor (a “Recovering Creditor”) to the Collateral Common Security Agent under Clause 4 7 (Effect of Insolvency Event) or Clause 5 8 (Turnover of Receipts) shall be treated as having been paid or distributed by the relevant Debtor and shall be applied by the Collateral Common Security Agent in accordance with Clause 12 15 (Application of Proceeds). (b) On an application by the Collateral Common Security Agent pursuant to Clause 12 15 (Application of Proceeds) of a Payment or distribution received by a Recovering Creditor from a Debtor, as between the relevant Debtor and the Recovering Creditor an amount equal to the amount received or recovered by the Recovering Creditor and paid or distributed to the Collateral Common Security Agent by the Recovering Creditor (the “Shared Amount”) will be treated as not having been paid or distributed by that Debtor.

Recovering Creditor’s rights. (a) Any amount paid or distributed by a Creditor (a “"Recovering Creditor”") to the Collateral Security Agent under Clause 4 9 (Effect of Insolvency Event) or Clause 5 10 (Turnover of Receipts) shall be treated as having been paid or distributed by the relevant Debtor and shall be applied by the Collateral Security Agent in accordance with Clause 12 16 (Application of Proceeds). (b) On an application by the Collateral Security Agent pursuant to Clause 12 16 (Application of Proceeds) of a Payment or distribution received by a Recovering Creditor from a Debtor, as between the relevant Debtor and the Recovering Creditor an amount equal to the amount received or recovered by the Recovering Creditor and paid or distributed to the Collateral Security Agent by the Recovering Creditor (the “"Shared Amount”") will be treated as not having been paid or distributed by that Debtor.

Recovering Creditor’s rights. (a) Any amount paid or distributed by a Creditor (a “Recovering Creditor”) to the Collateral Security Agent under Clause 4 8 (Effect of Insolvency Event) or Clause 5 9 (Turnover of Receipts) shall be treated as having been paid or distributed by the relevant Debtor and shall be applied by distributed to the Collateral Security Agent and Primary Creditors (each a “Sharing Creditor”) in accordance with Clause 12 (Application the terms of Proceeds)this Agreement. (b) On an application a distribution by the Collateral Security Agent pursuant to Clause 12 under paragraph (Application of Proceedsa) above of a Payment or distribution received by a Recovering Creditor from a Debtor, as between the relevant Debtor and the Recovering Creditor an amount equal to the amount received or recovered by the Recovering Creditor and paid or distributed to the Collateral Security Agent by the Recovering Creditor (the “Shared Amount”) will be treated as not having been paid or distributed by that Debtor.