Common use of Turnover by the Primary Creditors Clause in Contracts

Turnover by the Primary Creditors. Subject to Clause ‎9.4 (Exclusions), Clause ‎‎9.5 (Permitted assurance and receipts) and Clause ‎15.1 (Senior Secured Notes Creditor Refinancing Liabilities) and, in the case of amounts received by the Notes Trustee in respect of the Senior Secured Notes Creditor Liabilities (including but not limited to Senior Secured Notes Trustee Amounts), to paragraphs (a) and (c) of Clause ‎25.1 (Liability) and paragraph (c) of Clause ‎25.19 (Notes Trustee assumptions), if at any time prior to the Final Discharge Date, any Primary Creditor receives or recovers the proceeds of any enforcement of any Transaction Security (whether before or after an Insolvency Event) except in accordance with Clause ‎13 (Application of Proceeds), that Primary Creditor will: (a) in relation to receipts and recoveries not received or recovered by way of set-off: (i) hold an amount of that receipt or recovery equal to the Relevant Liabilities (or if less, the amount received or recovered) on trust for the Security Agent and promptly pay that amount to the Security Agent for application in accordance with the terms of this Agreement; and (ii) promptly pay an amount equal to the amount (if any) by which the receipt or recovery exceeds the Relevant Liabilities to the Security Agent for application in accordance with the terms of this Agreement; and (b) in relation to receipts and recoveries received or recovered by way of set-off, promptly pay an amount equal to that recovery to the Security Agent for application in accordance with the terms of this Agreement.

Turnover by the Primary Creditors. Subject to Clause ‎9.4 11.4 (Exclusions), Clause ‎‎9.5 11.5 (Permitted assurance and receipts) and Clause ‎15.1 (Senior Secured Notes Creditor Refinancing Liabilities) and, in the case of amounts received by the Notes Trustee in respect of the a Senior Secured Notes Creditor Liabilities (including but not limited to Senior Secured Notes Trustee Amounts)Trustee, to paragraphs Clause 20.5 (a) and (c) of Clause ‎25.1 (Liability) and paragraph (c) of Clause ‎25.19 (Notes Trustee assumptionsTurnover obligations), if at any time prior to the Final Priority Debt Discharge Date, Date any Primary Creditor receives or recovers the proceeds of any enforcement of any Transaction Security (whether before or after an Insolvency Event) except in accordance with Clause ‎13 15 (Application of Proceeds), that Primary Creditor will: (a) in relation to receipts and recoveries not received or recovered by way of set-off: (i) hold an amount of that receipt or recovery equal to the Relevant Liabilities (or if less, the amount received or recovered) on trust for the Security Agent and separate from other assets, property or funds and promptly pay that amount to the Security Agent for application in accordance with the terms of this Agreement; and (ii) promptly pay an amount equal to the amount (if any) by which the receipt or recovery exceeds the Relevant Liabilities to the Security Agent for application in accordance with the terms of this Agreement; and (b) in relation to receipts and recoveries received or recovered by way of set-off, promptly pay an amount equal to that receipt or recovery to the Security Agent for application in accordance with the terms of this Agreement.

Turnover by the Primary Creditors. Subject to Clause ‎9.4 ‎11.3 (Exclusions), ) and to Clause ‎‎9.5 11.5 (Permitted assurance and receipts) and Clause ‎15.1 (Senior Secured Notes Creditor Refinancing Liabilities) and, in the case of amounts received by the Notes Trustee in respect of the Senior Secured Notes Creditor Liabilities (including but not limited to Senior Secured Notes Trustee Amounts), to paragraphs (a) and (c) of Clause ‎25.1 (Liability) and paragraph (c) of Clause ‎25.19 (Notes Trustee assumptions), if at any time prior to the Final Discharge Date, any Primary Creditor receives or recovers the proceeds of any enforcement of any Transaction Security (whether before or after an Insolvency Event) Enforcement Proceeds except in accordance with Clause ‎13 17 (Application of Proceeds), that Primary Creditor will: (a) in relation to receipts and recoveries not received or recovered by way of set-off: (i) hold an amount of that receipt or recovery equal to the Relevant Liabilities (or if less, the amount received or recovered) on trust for the Security Agent and promptly pay or distribute that amount to the Security Agent for application in accordance with the terms of this Agreement; and (ii) promptly pay or distribute an amount equal to the amount (if any) by which the receipt or recovery exceeds the Relevant Liabilities to the Security Agent for application in accordance with the terms of this Agreement; and (b) in relation to receipts and recoveries received or recovered by way of set-off, promptly pay an amount equal to that recovery to the Security Agent for application in accordance with the terms of this Agreement.

Turnover by the Primary Creditors. Subject to Clause ‎9.4 8.4 (Exclusions), ) and to Clause ‎‎9.5 8.5 (Permitted assurance and receipts) and Clause ‎15.1 (Senior Secured Notes Creditor Refinancing Liabilities) and, in the case of amounts received by the Notes Trustee in respect of the Senior Secured Notes Creditor Liabilities (including but not limited to Senior Secured Notes Trustee Amounts), to paragraphs (a) and (c) of Clause ‎25.1 (Liability) and paragraph (c) of Clause ‎25.19 (Notes Trustee assumptions), if at any time prior to the Final Discharge Date, any Primary Creditor receives or recovers the proceeds of any enforcement of any Transaction Security (whether before or after an Insolvency Event) Enforcement Proceeds except in accordance with Clause ‎13 15 (Application of Proceeds), that Primary Creditor will: (a) in relation to receipts and recoveries not received or recovered by way of set-off: (i) hold an amount of that receipt or recovery equal to the Relevant Liabilities (or if less, the amount received or recovered) on trust for the Security Agent and promptly pay or distribute that amount to the Security Agent for application in accordance with the terms of this Agreement; and (ii) promptly pay or distribute an amount equal to the amount (if any) by which the receipt or recovery exceeds the Relevant Liabilities to the Security Agent for application in accordance with the terms of this Agreement; and (b) in relation to receipts and recoveries received or recovered by way of set-off, promptly pay an amount equal to that recovery to the Security Agent for application in accordance with the terms of this Agreement.

Turnover by the Primary Creditors. Subject to Clause ‎9.4 9.4 (Exclusions), ) and to Clause ‎‎9.5 9.5 (Permitted assurance and receipts) and Clause ‎15.1 (Senior Secured Notes Creditor Refinancing Liabilities) and, in the case of amounts received by the Notes Trustee in respect of the Senior Secured Notes Creditor Liabilities (including but not limited to Senior Secured Notes Trustee Amounts), to paragraphs (a) and (c) of Clause ‎25.1 (Liability) and paragraph (c) of Clause ‎25.19 (Notes Trustee assumptions), if at any time prior to the Final Discharge Date, any Primary Creditor receives or recovers the proceeds of any enforcement of any Transaction Security (whether before or after an Insolvency Event) Enforcement Proceeds except in accordance with Clause ‎13 16 (Application of Proceeds), that Primary Creditor will: (a) in relation to receipts and recoveries not received or recovered by way of set-off: (i) hold an amount of that receipt or recovery equal to the Relevant Liabilities (or if less, the amount received or recovered) on trust for the Security Agent and promptly pay or distribute that amount to the Security Agent for application in accordance with the terms of this Agreement; and (ii) promptly pay or distribute an amount equal to the amount (if any) by which the receipt or recovery exceeds the Relevant Liabilities to the Security Agent for application in accordance with the terms of this Agreement; and (b) in relation to receipts and recoveries received or recovered by way of set-off, promptly pay an amount equal to that recovery to the Security Agent for application in accordance with the terms of this Agreement.

Turnover by the Primary Creditors. Subject to Clause ‎9.4 11.4 (Exclusions), ) and to Clause ‎‎9.5 11.5 (Permitted assurance and receipts) and Clause ‎15.1 (Senior Secured Notes Creditor Refinancing Liabilities) and, in the case of amounts received by the Notes Trustee in respect of the Senior Secured Notes Creditor Liabilities (including but not limited to Senior Secured Notes Trustee Amounts), to paragraphs (a) and (c) of Clause ‎25.1 (Liability) and paragraph (c) of Clause ‎25.19 (Notes Trustee assumptions), if at any time prior to the Final Discharge Date, any Primary Creditor receives or recovers the proceeds of any enforcement of any Transaction Security (whether before or after an Insolvency Event) Enforcement Proceeds except in accordance with Clause ‎13 17 (Application of Proceeds), that Primary Creditor will: (a) in relation to receipts and recoveries not received or recovered by way of set-off: (i) hold an amount of that receipt or recovery equal to the Relevant Liabilities (or if less, the amount received or recovered) on trust for the Security Agent and promptly pay or distribute that amount to the Security Agent for application in accordance with the terms of this Agreement; and (ii) promptly pay or distribute an amount equal to the amount (if any) by which the receipt or recovery exceeds the Relevant Liabilities to the Security Agent for application in accordance with the terms of this Agreement; and (b) in relation to receipts and recoveries received or recovered by way of set-off, promptly pay an amount equal to that recovery to the Security Agent for application in accordance with the terms of this Agreement.