SUBSEQUENT SECURITY INTERESTS. If the Security Trustee (acting in its capacity as trustee or otherwise) or any of the other Secured Creditors at any time receives or is deemed to have received notice of any subsequent Security affecting all or any part of the Charged Portfolio or any assignment or transfer of the Charged Portfolio which is prohibited by the terms of this Shares Charge or the Indentures, all payments thereafter by or on behalf of the Chargor to or on behalf of the Security Trustee (whether in its capacity as trustee or otherwise) or any of the other Secured Creditors shall be treated as having been credited to a new account of the Chargor and not as having been applied in reduction of the Secured Obligations as at the time when the Security Trustee received such notice.
SUBSEQUENT SECURITY INTERESTS. If the Security Agent (acting in its capacity as security trustee or otherwise) or any of the other Secured Parties at any time receives or is deemed to have received notice of any subsequent security affecting all or any part of the Charged Portfolio or any assignment or transfer of the Charged Portfolio which is prohibited by the terms of this Agreement or the Credit Agreement, all payments thereafter by or on behalf of the Chargor to the Security Agent (whether in its capacity as security trustee or otherwise) or any of the other Secured Parties shall be treated as having been credited to a new account of the Chargor and not as having been applied in reduction of the Secured Obligations as at the time when the Security Agent received such notice.
SUBSEQUENT SECURITY INTERESTS. If the Security Agent (acting in its capacity as security trustee or otherwise) or any of the other Secured Parties at any time receives or is deemed to have received notice of any subsequent security affecting all or any part of the Charged Property or any assignment or transfer of the Charged Property which is prohibited by the terms of this Debenture or the Credit Agreement, all payments thereafter by or on behalf of any Company to the Security Agent (whether in its capacity as security trustee or otherwise) or any of the other Secured Parties shall be treated as having been credited to a new account of such Company and not as having been applied in reduction of the Secured Obligations as at the time when the Security Agent received such notice.
SUBSEQUENT SECURITY INTERESTS. 17.1 If the Mortgagee at any time receives or is deemed to have received notice of any subsequent Security Interest affecting all or any part of the Mortgaged Property or any assignment or transfer of the Mortgaged Property which is prohibited by the terms of this Mortgage, all payments thereafter by or on behalf of the Mortgagor to the Mortgagee shall be treated as having been credited to a new account of the Mortgagor and not as having been applied in reduction of the Secured Obligations as at the time when the Mortgagee received such notice.
SUBSEQUENT SECURITY INTERESTS. At any time following:
(a) the French Administrative Agent or any other Secured Party’s receipt of notice (either actual or constructive) of any subsequent Security Interest affecting the Secured Assets other than as permitted under the Loan Documents;
(b) the Insolvency (except for any solvent liquidation, reconstruction, reorganisation, scheme of arrangement or other analogous proceeding) of the English Chargor; or
(c) any disposal of all or any of the Secured Assets in breach of Clause 6.2 (No disposals), any Secured Party may open a new account or accounts in the name of the English Chargor (whether or not it permits any existing account to continue). If a Secured Party does not open such a new account, it shall nevertheless be treated as if it had done so at the time when the notice was received or was deemed to have been received or, as the case may be, the Insolvency commenced or the assignment or transfer occurred and from that time all payments made by the English Chargor to, the Secured Party or received by the Secured Party for the account of the English Chargor shall be credited or treated as having been credited to the new account and shall not operate to reduce the amount secured by this Debenture at the time when the Secured Party received or was deemed to have received that notice or, as the case may be, the Insolvency commenced or the assignment or transfer occurred.
SUBSEQUENT SECURITY INTERESTS. If the Interim Security Agent (acting in its capacity as Interim Security Agent or otherwise) or any of the other Secured Parties at any time receives or is deemed to have received notice of any subsequent Security affecting all or any part of the Security Assets or any assignment or transfer of the Security Assets which is prohibited by the terms of this Deed or any other Interim Document, all payments thereafter by or on behalf of the Chargor to the Interim Security Agent (whether in its capacity as Interim Security Agent or otherwise) or any of the other Secured Parties shall be treated as having been credited to a new account of the Chargor and not as having been applied in reduction of the Secured Liabilities as at the time when the Interim Security Agent received such notice.
SUBSEQUENT SECURITY INTERESTS. 12 14. ASSIGNMENT............................................................... 12 15. NOTICES.................................................................. 12 16.
SUBSEQUENT SECURITY INTERESTS. If the Issuer or the Bond Trustee (acting in its capacity as trustee or otherwise) or any of the other Borrower Secured Creditors at any time receives or is deemed to have received notice of any subsequent Security Interest affecting all or any part of the Charged Property or any assignment, assignation, conveyance or transfer of the Charged Property which is prohibited by the terms of this Agreement or any other Transaction Document, all payments thereafter by or on behalf of the relevant Obligor to the Issuer or the Bond Trustee (as its assignee) or any of the other Borrower Secured Creditors shall be treated as having been credited to a new account of such Obligor. If the Issuer or the Bond Trustee (as the case may be) does not open a new account it shall nevertheless be treated as if it had done so at the time when it received or was deemed to have received notice and, as from that time, all payments made to the Issuer or the Bond Trustee shall be credited or be treated as having been credited to the new account and not as having been applied in reduction of the OFCA Secured Liabilities as at the time when the Issuer or the Bond Trustee received such notice.
SUBSEQUENT SECURITY INTERESTS. If the Security Agent (acting in its capacity as Security Agent or otherwise) or any of the other Secured Parties at any time receives or is deemed to have received notice of any subsequent Security affecting all or any part of the Security Assets or any assignment or transfer of the Security Assets which is prohibited by the terms of this Agreement or any other Debt Document, all payments thereafter by or on behalf of the Security Grantor to the Security Agent (whether in its capacity as Security Agent or otherwise) or any of the other Secured Parties shall be treated as having been credited to a new account of the Security Grantor and not as having been applied in reduction of the Secured Liabilities as at the time when the Security Agent received such notice.
SUBSEQUENT SECURITY INTERESTS. If the Chargee at any time receives or is deemed to have received notice of any subsequent encumbrance affecting all or any part of the Charged Assets or any assignment or transfer of the Charged Assets which is prohibited by the terms of this Debenture or the Loan Documents, all payments thereafter by or on behalf of the Chargor to the Chargee shall be treated as having been credited to a new account of the Chargor and not as having been applied in reduction of the Secured Obligations as at the time when the Chargee received such notice.
