Common use of Acquisition of Intra-Group Liabilities Clause in Contracts

Acquisition of Intra-Group Liabilities. (a) Subject to paragraph (b) below, the Debtors and Security Providers may purchase by way of assignment or transfer, enter into a sub-participation in respect of or enter into any other agreement or arrangement having the economic effect of a sub-participation in respect of the Intra-Group Liabilities. (b) Until the Final Discharge Date has occurred, if at the time of an action described in paragraph (a) above, an Insolvency Event in relation to the relevant Debtor or Security Provider has occurred, that action shall only be taken: (i) to effect Payment of the Liabilities owed to the Secured Parties prior to any such action being taken for any other purposes; or (ii) as otherwise consented to by an Instructing Group.