Common use of Right of appropriation Clause in Contracts

Right of appropriation. To the extent the Charged Assets constitute “financial collateral” and this Deed constitutes a “security financial collateral arrangement” (as defined in the Financial Collateral Arrangements (No. 2) Regulations 2003 (SI 2003 No. 3226) the Security Trustee may appropriate all or any part of the Charged Assets in or towards satisfaction of the Secured Obligations, the value of the assets so appropriated being such amount as the Security Trustee shall determine in a commercially reasonable manner.

Right of appropriation. To the extent the Charged Assets constitute “financial collateral” and this Deed constitutes a “security financial collateral arrangement” (as defined in the Financial Collateral Arrangements (No. 2) Regulations 2003 (SI 2003 No. 3226)) the Security Trustee may appropriate all or any part of the Charged Assets in or towards satisfaction of the Secured Obligations, the value of the assets so appropriated being such amount as the Security Trustee shall determine in a commercially reasonable manner.

Right of appropriation. To the extent that the Charged Assets constitute Secured Property constitutes “financial collateral” and this Deed constitutes a “security financial collateral arrangement” (as defined in the Financial Collateral Arrangements (No. 2No.2) Regulations 2003 (SI 2003 No. 3226) No.3226)), the Security Trustee may appropriate all or any part of the Charged Assets Secured Property in or towards satisfaction of the Secured Obligations, the value of the assets property so appropriated being such amount as the Security Trustee shall determine in a commercially reasonable manner.