Common use of Security Agent and Non-Cash Recoveries Clause in Contracts

Security Agent and Non-Cash Recoveries. To the extent the Security Agent receives or recovers any Non-Cash Recoveries, it may (acting on the instructions of the Instructing Group) but without prejudice to its ability to exercise discretion under Clause 14.2 (Prospective liabilities)): (a) distribute those Non-Cash Recoveries pursuant to Clause 14 (Application of proceeds) as if they were Cash Proceeds; (b) hold, manage, exploit, collect, realise and dispose of those Non-Cash Recoveries; and (c) hold, manage, exploit, collect, realise and distribute any resulting Cash Proceeds.

Security Agent and Non-Cash Recoveries. To the extent the Security Agent receives or recovers any Non-Cash Recoveries, it may shall (acting on the instructions of the Instructing Group) but without prejudice to its ability to exercise discretion under Clause 14.2 15.2 (Prospective liabilities)): (a) distribute those Non-Cash Recoveries pursuant to Clause 14 15 (Application of proceedsProceeds) as if they were Cash Proceeds; (b) hold, manage, exploit, collect, realise and dispose of those Non-Cash Recoveries; and (c) hold, manage, exploit, collect, realise and distribute any resulting Cash Proceeds.

Security Agent and Non-Cash Recoveries. To the extent the Security Agent receives or recovers any Non-Cash Recoveries, it may (acting on the instructions of the Instructing Group) but without prejudice to its ability to exercise discretion under Clause 14.2 16.2 (Prospective liabilities)): (a) distribute those Non-Cash Recoveries pursuant to Clause 14 16 (Application of proceeds) as if they were Cash Proceeds; (b) hold, manage, exploit, collect, realise and dispose of those Non-Cash Recoveries; and (c) hold, manage, exploit, collect, realise and distribute any resulting Cash Proceeds.

Security Agent and Non-Cash Recoveries. To the extent the Security Agent receives or recovers any Non-Cash Recoveries, it may (acting on the instructions of the Instructing Group) but without prejudice to its ability to exercise discretion under Clause 14.2 16.2 (Prospective liabilities)): (a) distribute those Non-Cash Recoveries pursuant to Clause 14 16 (Application of proceedsProceeds) as if they were Cash Proceeds; (b) hold, manage, exploit, collect, realise and dispose of those Non-Cash Recoveries; and (c) hold, manage, exploit, collect, realise and distribute any resulting Cash Proceeds.

Security Agent and Non-Cash Recoveries. To the extent the Security Agent receives or recovers any Non-Cash Recoveries, it may (acting on the instructions of the Instructing Group) Majority External Creditors but without prejudice to its ability to exercise discretion under Clause 14.2 16.2 (Prospective liabilities)): (a) distribute those Non-Cash Recoveries pursuant to Clause 14 16 (Application of proceedsProceeds) as if they were Cash Proceeds; (b) hold, manage, exploit, collect, realise and dispose of those Non-Cash Recoveries; and (c) hold, manage, exploit, collect, realise and distribute any resulting Cash Proceeds.