Common use of SUBSEQUENT SECURITY INTERESTS Clause in Contracts

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 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 Property or any assignment or transfer of the Charged Portfolio Property which is prohibited by the terms of this Shares Charge Debenture or the Indentures, all payments thereafter by or on behalf of the Chargor Company to (or on behalf of 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 Company 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 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 Property or any assignment or transfer of the Charged Portfolio Property which is prohibited by the terms of this Shares Charge Deed or the Indentures, all payments thereafter by or on behalf of the Chargor to (or on behalf of 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 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 Property or any assignment or transfer of the Charged Portfolio Property which is prohibited by the terms of this Shares Charge Debenture or any Mortgage or the Indentures, all payments thereafter by or on behalf of the Chargor any Company to (or on behalf of 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 that Company and not as having been applied in reduction of the Secured Obligations as at the time when the Security Trustee received such notice.