Common use of Security, Financial Indebtedness and guarantees Clause in Contracts

Security, Financial Indebtedness and guarantees. (a) No Security exists over all or any of the present or future assets of any Group Member other than as permitted by Clause 23.12 (Negative pledge). (b) No Group Member has any Financial Indebtedness outstanding or any guarantees of Financial Indebtedness outstanding other than as permitted by Clause 23.20 (Financial Indebtedness) or Clause 23.16 (No Guarantees or indemnities). (c) Subject to the Legal Reservations and any applicable Perfection Requirements, each Transaction Security Document creates (or, once entered into, will create), in favour of the Security Agent for the benefit of the Secured Parties, the Security which it is expressed to create with the ranking and priority it is expressed to have, except for obligations mandatorily preferred by law applying to companies generally.

Security, Financial Indebtedness and guarantees. (a) No Security or Quasi-Security exists over all or any of the present or future assets of it or any Group Member other than as permitted by Clause 23.12 23.13 (Negative pledge). (b) No Neither it nor any Group Member has any Financial Indebtedness outstanding or any guarantees of Financial Indebtedness guarantee outstanding other than as permitted by Clause 23.20 23.21 (Financial Indebtedness) or Clause 23.16 23.17 (No Guarantees or indemnities). (c) Subject to the Legal Reservations and any applicable Perfection RequirementsRequirements (that are not overdue), each Transaction Security Document creates (or, once entered into, will create), in favour of the Security Agent for the benefit of the Secured Parties, the Security which it is expressed to create with the ranking and priority it is expressed to have, except for obligations mandatorily preferred by law applying to companies generally.

Security, Financial Indebtedness and guarantees. (a) No Security or Quasi-Security exists over all or any of the present or future assets of it or any Group Member other than as permitted by Clause 23.12 (Negative pledge)this Agreement. (b) No Neither it nor any Group Member has any Financial Indebtedness outstanding or any guarantees of Financial Indebtedness guarantee outstanding other than as permitted by Clause 23.20 23.19 (Financial Indebtedness) or Clause 23.16 23.15 (No Guarantees or indemnities). (c) Subject to the Legal Reservations and any applicable Perfection RequirementsRequirements (that are not overdue), each Transaction Security Document creates (or, once entered into, will create), in favour of the Security Agent for the benefit of the Secured Parties, the Security which it is expressed to create with the ranking and priority it is expressed to have, except for obligations mandatorily preferred by law applying have and such Security is not subject to companies generallyany prior ranking or pari passu ranking Security.