Common use of Permitted assurance and receipts Clause in Contracts

Permitted assurance and receipts. Nothing in this Agreement shall restrict the ability of any Senior Creditor or Subordinated Creditor to: (a) arrange with any person which is not a member of the Group any assurance against loss in respect of, or reduction of its credit exposure to, a Debtor (including assurance by way of credit based derivative or sub-participation); or (b) make any assignment or transfer permitted by ▇▇▇▇▇▇ 19 (Changes to the Parties), which: (i) is expressly permitted by the Senior Facilities Agreement; and (ii) is not in breach of: (A) Clause 4.5 (No acquisition of Hedging Liabilities); or (B) Clause 6.4 (No acquisition of Subordinated Liabilities), and that Senior Creditor or Subordinated Creditor shall not be obliged to account to any other Party for any sum received by it as a result of that action.

Permitted assurance and receipts. Nothing in this Agreement shall restrict the ability of any Senior Creditor or Subordinated Primary Creditor to: (a) arrange with any person which is not a member of the Group any assurance against loss in respect of, or reduction of its credit exposure to, a Debtor (including assurance by way of credit credit-based derivative or sub-participation); or (b) make any assignment or transfer permitted by ▇▇▇▇▇▇ 19 Clause 21 (Changes to the Parties), which: (i) is is: (A) expressly permitted by the Credit Facility Agreement(s); and (B) not prohibited by the Senior Facilities AgreementSecured Note Indenture; and (ii) is not in breach of: (A) of Clause 4.5 7.8 (No acquisition of Hedging Liabilities); or (B) Clause 6.4 (No acquisition of Subordinated Second Lien Note Liabilities), and that Senior Creditor or Subordinated Primary Creditor shall not be obliged to account to any other Party for any sum received by it as a result of that action.

Permitted assurance and receipts. Nothing in this Agreement shall restrict the ability of any Senior Creditor or Subordinated Creditor to: (a) arrange with any person which is not a member of the Group Debtor any assurance against loss in respect of, or reduction of its credit exposure to, a Debtor (including assurance by way of credit based derivative or sub-participationparticipation or similar financial instrument); or (b) make any assignment or transfer permitted by ▇▇▇▇▇▇ 19 18 (Changes to the Parties), whichwhich is: (i) is expressly permitted by the Senior Term Facilities Agreement; and (ii) is not in breach of: (A) of Clause 4.5 (No acquisition Acquisition of Hedging Liabilities); or (B) or Clause 6.4 5.4 (No acquisition of Subordinated Liabilities), and that Senior Creditor or Subordinated Creditor shall not be obliged to account to any other Party for any sum received by it as a result of that action.

Permitted assurance and receipts. ‌ Nothing in this Agreement shall restrict the ability of any Senior Creditor or Subordinated Creditor to: (a) arrange with any person which is not a member of the Group any assurance against loss in respect of, or reduction of its credit exposure to, a Debtor (including assurance by way of credit based derivative or sub-participation); or (b) make any assignment or transfer permitted by ▇▇▇▇▇▇ 19 21 (Changes to the Parties), which: (i) is expressly permitted by the Senior Facilities Agreement; and (ii) is not in breach of: (A) Clause 4.5 (No acquisition of Hedging Liabilities); or (B) Clause 6.4 7.4 (No acquisition of Subordinated Liabilities), and that Senior Creditor or Subordinated Creditor shall not be obliged to account to any other Party for any sum received by it as a result of that action.