Common use of Retention of Security Clause in Contracts

Retention of Security. If the Security Trustee considers that any amount paid or credited to or recovered by any Beneficiary under any Transaction Document is capable of being avoided or otherwise set aside on the winding-up of the Chargor or any other person, or otherwise, that amount shall not be considered to have been paid for the purposes of determining whether all the Secured Obligations have been irrevocably paid.

Retention of Security. If the Security Trustee considers that any amount paid or credited to or recovered by any Beneficiary it under any Transaction Document is capable of being avoided or otherwise set aside on the winding-up of the Chargor or any other person, or otherwiseaside, that amount shall not be considered to have been paid for the purposes of determining whether all the Secured Obligations Liabilities have been irrevocably paidpaid in full.

Retention of Security. If the Security Trustee considers that any amount paid or credited to or recovered by any Beneficiary it under any Transaction Document is capable of being avoided or otherwise set aside on the winding-up of the Chargor or any other person, or otherwiseaside, that amount shall not be considered to have been paid for the purposes of determining whether all the Secured Obligations Liabilities have been irrevocably paid.