Common use of Recovering Finance Party’s rights Clause in Contracts

Recovering Finance Party’s rights. (a) Unless clause 31.3(b) applies: Loan Note Subscription Agreement | DLA Piper | 124 (i) the receipt or recovery referred to in clause 31.1 (Payments to Finance Parties) will be taken to have been a payment for the account of the Agent and not to the Recovering Finance Party for its own account, and the liability of the relevant Obligor to the Recovering Finance Party will only be reduced to the extent of any distribution retained by the Recovering Finance Party under clause 31.1(c) (Payments to Finance Parties); and (ii) (without limiting clause 31.3(a)(i)) the relevant Obligor shall indemnify the Recovering Finance Party against a payment under clause 31.1(b) to the extent that (despite clause 31.3(a)(i)) its liability has been discharged by the recovery or payment.

Recovering Finance Party’s rights. (a) Unless clause 31.3(bparagraph (b) applies: Loan Note Subscription Agreement | DLA Piper | 124: (i) the receipt or recovery referred to in clause 31.1 Clause 34.1 (Payments to Finance Parties) will be taken to have been a payment for the account of the Agent and not to the Recovering Finance Party for its own account, and the liability of the relevant Obligor to the Recovering Finance Party will only be reduced to the extent of any distribution retained by the Recovering Finance Party under clause 31.1(cClause 34.1(a)(iii) (Payments to Finance Parties); and (ii) (without limiting clause 31.3(a)(isub-paragraph (i)) the relevant Obligor shall indemnify the Recovering Finance Party against a payment under clause 31.1(bClause 34.1(a)(iii) (Payments to Finance Parties) to the extent that (despite clause 31.3(a)(isub-paragraph (i)) its liability has been discharged by the recovery or payment.