Common use of Retention of Deed Clause in Contracts

Retention of Deed. If the Company requests the Security Trustee to release the Assigned Assets from the Assignment following any payment or discharge of the Secured Liabilities by a person other than the Company (a "RELEVANT TRANSACTION"), the Security Trustee shall at the cost of the Company execute such documents and deeds and do all such acts and things as may be necessary to release the Assigned Assets from the Assignment provided the Security Trustee is satisfied that the payment or discharge will not be avoided, reduced or invalidated. If the Security Trustee is not so satisfied, the Security Trustee shall be entitled to retain this Deed and shall not be obliged to release the Assigned Assets from the Assignment until the expiry of the Retention Period (being the period which commences on the date when that Relevant Transaction was made or given, and ends on the date falling one month after the expiration of the maximum period within which that Relevant Transaction can be avoided, reduced or invalidated by virtue of any applicable law or for any other reason whatsoever in relation to that Relevant Transaction). If at any time before the expiry of that Retention Period the Dissolution of such other person has commenced, the Security Trustee may continue to retain this Deed and shall not be obliged to release the Assigned Assets from the Assignment for such further period as the Security Trustee may determine.