Common use of Treatment of Payments due to Debtors on termination of hedging transactions Clause in Contracts

Treatment of Payments due to Debtors on termination of hedging transactions. If, on termination of any hedging transaction under any Hedging Agreement occurring after a Distress Event, a settlement amount or other amount (following the application of any Close-Out Netting, Payment Netting or Inter-Hedging Agreement Netting in respect of that Hedging Agreement) falls due from a Hedge Counterparty to the relevant Debtor then that amount shall be paid by that Hedge Counterparty to the Security Agent, treated as the proceeds of enforcement of the Transaction Security and applied in accordance with the terms of this Agreement.

Treatment of Payments due to Debtors on termination of hedging transactions. If, on termination of any hedging transaction under any Hedging Agreement occurring after a Distress Event, a settlement amount or other amount (following the application of any Close-Close Out Netting, Payment Netting or Inter-Hedging Agreement Netting in respect of that Hedging Agreement) falls due from a Hedge Counterparty to the relevant Debtor then that amount shall be paid by that Hedge Counterparty to the Security AgentTrustee, treated as the proceeds of enforcement of the Transaction Security and applied in accordance with the terms of this AgreementDeed.

Treatment of Payments due to Debtors on termination of hedging transactions. If, on termination of any hedging transaction under any Senior Hedging Agreement occurring after a Distress Event, a settlement amount or other amount (following the application of any Close-Out Netting, Payment Netting or Inter-Senior Hedging Agreement Netting in respect of that Senior Hedging Agreement) falls due from a Senior Hedge Counterparty to the relevant Debtor then that amount shall be paid by that Senior Hedge Counterparty to the Security AgentSPV, treated as the proceeds of enforcement of the Transaction Security and applied in accordance with the terms of this Agreement.