Common use of Application of Receipts Clause in Contracts

Application of Receipts. (a) Except as expressly stated to the contrary in any Finance Document, any moneys which the Security Agent receives or recovers and which are, or are attributable to, Security Property (for the purposes of this Clause 33, the “Recoveries”) shall be transferred to the Facility Agent for application in accordance with Clause 36.5 (Application of receipts; partial payments). (b) Paragraph (a) above is without prejudice to the rights of the Security Agent, each Receiver and each Delegate: (i) under Clause 14.4 (Indemnity to the Security Agent) to be indemnified out of the Charged Property; and (ii) under any Finance Document to credit any moneys received or recovered by it to any suspense account. (c) Any transfer by the Security Agent to the Facility Agent in accordance with paragraph (a) above shall be a good discharge, to the extent of that payment, by the Security Agent. (d) The Security Agent is under no obligation to make the payments to the Facility Agent under paragraph (a) of this Clause 33.4 (Application of receipts) in the same currency as that in which the obligations and liabilities owing to the relevant Finance Party are denominated.

Application of Receipts. (a) Except as expressly stated to the contrary in any Finance Document, any moneys which the Security Agent Trustee receives or recovers and which are, or are attributable to, Security Property (for the purposes of this Clause 3326 (The Security Trustee), the “"Recoveries”") shall be transferred to the Facility Agent for application in accordance with Clause 36.5 19 (Application of receipts; partial paymentsSums Received). (b) Paragraph (a) above is without prejudice to the rights of the Security AgentTrustee, each Receiver and each Delegateany receiver: (i) under Clause 14.4 25.10 (Indemnity Lenders' indemnity to the Security Agent) to be indemnified out of the Charged Property; and (ii) under any Finance Document to credit any moneys received or recovered by it to any suspense account. (c) Any transfer by the Security Agent Trustee to the Facility Agent in accordance with paragraph (a) above shall be a good discharge, to the extent of that payment, by the Security AgentTrustee. (d) The Security Agent Trustee is under no obligation to make the payments to the Facility Agent under paragraph (a) of this Clause 33.4 26.4 (Application of receipts) in the same currency as that in which the obligations and liabilities owing to the relevant Finance Secured Party are denominated.

Application of Receipts. (a) Except as expressly stated to the contrary in any Finance Document, any moneys which the Security Agent Trustee receives or recovers and which are, or are attributable to, Security Property (for the purposes of this Clause 3326 (The Security Trustee), the “Recoveries”) shall be transferred to the Facility Agent for application in accordance with Clause 36.5 19 (Application of receipts; partial paymentsSums Received). (b) Paragraph (a) above is without prejudice to the rights of the Security AgentTrustee, each Receiver and each Delegateany receiver: (i) under Clause 14.4 25.10 (Indemnity Lenders’ indemnity to the Security Agent) to be indemnified out of the Charged Property; and (ii) under any Finance Document to credit any moneys received or recovered by it to any suspense account. (c) Any transfer by the Security Agent Trustee to the Facility Agent in accordance with paragraph (a) above shall be a good discharge, to the extent of that payment, by the Security AgentTrustee. (d) The Security Agent Trustee is under no obligation to make the payments to the Facility Agent under paragraph (a) of this Clause 33.4 26.4 (Application of receipts) in the same currency as that in which the obligations and liabilities owing to the relevant Finance Secured Party are denominated.