Common use of Failure of Trust Clause in Contracts

Failure of Trust. If for any reason, a trust in favour of, or a holding of property for, the Lender under this Deed is invalid or unenforceable, the Subordinated Creditor shall pay and deliver to the Lender an amount equal to the payment, receipt or recovery in cash or in kind (or its value, if in kind) which the Subordinated Creditor would otherwise have been bound to hold on trust for or as property of the Lender.

Failure of Trust. If for any reason, reason a trust in favour of, or a holding of property for, the Lender under this Deed is invalid or unenforceableunenforceable for any reason whatsoever, the each Subordinated Creditor shall will pay and deliver to the Lender an amount equal to the payment, receipt or recovery in cash or in kind (or its value, if in kind) which the that such Subordinated Creditor otherwise would otherwise have been bound to hold on trust for or as property of the Lender.