Common use of Saving Provision Clause in Contracts

Saving Provision. If, for any reason, any of the trusts expressed to be created in this Clause 8 should fail or be unenforceable, the affected Creditor or Debtor will promptly pay or distribute an amount equal to that receipt or recovery to the Security Agent to be held on trust by the Security Agent for application in accordance with the terms of this Agreement.

Saving Provision. If, for any reason, any of the trusts expressed to be created in this Clause 8 7 should fail or be unenforceable, the affected Creditor or Debtor will promptly pay or distribute an amount equal to that receipt or recovery to the Security Agent to be held on trust by the Security Agent for application in accordance with the terms of this Agreement.

Saving Provision. If, for any reason, any of the trusts expressed to be created in this Clause 8 10 should fail or be unenforceable, the affected Creditor Creditor, Operating Facility Lender or Debtor will will, unless otherwise agreed by the Security Agent and subject to receiving payment instructions and any other relevant information from the Security Agent, promptly pay or distribute an amount equal to that receipt or recovery to the Security Agent to be held on trust by the Security Agent for application in accordance with the terms of this Agreement.

Saving Provision. If, for any reason, any of the trusts expressed to be created in this Clause 8 10 should fail or be unenforceable, the affected Creditor Creditor, Operating Facility Lender, Debtor or Debtor will Third Party Security Provider will, unless otherwise agreed by the Security Agent and subject to receiving payment instructions and any other relevant information from the Security Agent, promptly pay or distribute an amount equal to that receipt or recovery to the Security Agent to be held on trust by the Security Agent for application in accordance with the terms of this Agreement.

Saving Provision. If, for any reason, any of the trusts expressed to be created in this Clause 8 ‎‎9 should fail or be unenforceable, the affected Creditor or Debtor will promptly pay or distribute an amount equal to that receipt or recovery to the Security Agent Agent, to the extent permitted by applicable law, to be held on trust by the Security Agent for application in accordance with the terms of this Agreement.

Saving Provision. If, for any reason, any of the trusts expressed to be created in this Clause 8 11 should fail or be unenforceable, the affected Creditor or Debtor will promptly pay or distribute an amount equal to that receipt or recovery to the Security Agent to be held on trust by the Security Agent for application in accordance with the terms of this Agreement.

Saving Provision. If, for any reason, any of the trusts expressed to be created in this Clause 8 11 should fail or be unenforceable, the affected Creditor, Subordinated Creditor or Debtor will promptly pay or distribute an amount equal to that receipt or recovery to the Security Agent to be held on trust by the Security Agent for application in accordance with the terms of this Agreement.

Saving Provision. If, for any reason, any of the trusts expressed to be created in this Clause 8 10 should fail or be unenforceable, the affected Creditor or Debtor will promptly pay or distribute an amount equal to that receipt or recovery to the Security Agent to be held on trust by the Security Agent for application in accordance with the terms of this Agreement.

Saving Provision. If, for any reason, any of the trusts expressed to be created in this Clause 8 12 should fail or be unenforceable, the affected Creditor or Debtor will promptly pay or distribute an amount equal to that receipt or recovery to the Security Agent to be held on trust by the Security Agent for application in accordance with the terms of this Agreement.

Saving Provision. If, for any reason, any of the trusts expressed to be created in this Clause 8 11 should fail or be unenforceable, the affected Creditor or Debtor will promptly pay or distribute an amount equal to that receipt or recovery to the Security Agent SPV to be held on trust by the Security Agent SPV for application in accordance with the terms of this Agreement.

Saving Provision. If, for any reason, any of the trusts expressed to be created in this Clause 8 9 should fail or be unenforceable, the affected Creditor or Debtor will promptly pay or distribute an amount equal to that receipt or recovery to the Security Agent to be held on trust by the Security Agent for application in accordance with the terms of this Agreement.

Saving Provision. If, for any reason, any of the trusts expressed to be created in this Clause 8 should fail or be unenforceable, the affected Creditor Creditor, Debtor or Debtor the Parent will promptly pay or distribute an amount equal to that receipt or recovery to the Security Agent to be held on trust by the Security Agent for application in accordance with the terms of this Agreement.

Saving Provision. If, for any reason, any of the trusts expressed to be created in this Clause 8 11 should fail or be unenforceable, the affected Creditor Creditor, Debtor or Debtor will grantor of Transaction Security will, to the extent legally permissible, promptly pay or distribute an amount equal to that receipt or recovery to the Security Agent Trustee to be held on trust by the Security Agent Trustee for application in accordance with the terms of this Agreement.

Saving Provision. If, for any reason, any of the trusts expressed to be created in this Clause 8 should fail or be unenforceable, the affected Creditor Creditor, Debtor or Debtor Security Grantor will promptly pay or distribute an amount equal to that receipt or recovery to the Common Security Agent to be held on trust and/or as agent by the Common Security Agent for application in accordance with the terms of this Agreement.

Saving Provision. If, for any reason, any of the trusts expressed to be created in this Clause 8 Section 11 should fail or be unenforceable, the affected Creditor or Debtor will will, unless otherwise agreed by the Security Agent and subject to receiving payment instructions and any other relevant information from the Security Agent, promptly pay or distribute an amount equal to that receipt or recovery to the Security Agent to be held on trust by the Security Agent for application in accordance with the terms of this Agreement.