Common use of Retention of Deed Clause in Contracts

Retention of Deed. The Security Trustee may in its absolute discretion retain all or part of this Deed as a guarantee for the Guaranteed Liabilities for a period of 25 months after the Guaranteed Liabilities shall have been paid and discharged in full. If at any time within that period of 25 months a petition is presented to a competent court for a winding-up or administration order to be made in respect of any RRL Group Company or steps are taken to wind up any RRL Group Company voluntarily, then the Security Trustee may continue to retain all or part of this Deed for such further period as the Security Trustee in its absolute discretion shall determine.

Retention of Deed. The Security Trustee may in its absolute discretion retain all or part of this Deed as a guarantee for the Guaranteed Liabilities for a period of 25 12 months after the Guaranteed Liabilities shall have been paid and discharged in full. If at any time within that period of 25 12 months a petition is presented to a competent court for a winding-up or administration order to be made in respect of any RRL Group Company the Borrower or steps are taken to wind up any RRL Group Company the Borrower voluntarily, then the Security Trustee may continue to retain all or part of this Deed for such further period as the Security Trustee in its absolute discretion shall determine.