Common use of Right of appropriation Clause in Contracts

Right of appropriation. Without prejudice to the other provisions of this Debenture, to the extent that any of the Charged Assets constitute “financial collateral”, and this Debenture and the obligations of the Company hereunder constitute a “security financial collateral agreement” (in each case as defined in, and for the purposes of, the Financial Collateral Arrangements (No. 2) Regulations 2003 (SI 2003/3226) (the “Regulations”), the Collateral Agent shall at any time on and after the Enforcement Date have the right to appropriate all or any part of those Charged Assets in or towards discharge of the Secured Liabilities. For this purpose, the parties agree that the value of any such Charged Assets so appropriated shall be the market price of such Charged Assets at the time the right of appropriation is exercised as determined by the Collateral Agent by reference to such method or source of valuation as the Collateral Agent may select, including by independent valuation. The Parties agree that the methods or sources of valuation provided for in this Clause 10.6 (Right of appropriation) or selected by the Collateral Agent in accordance with this Clause 10.6 (Right of appropriation) shall constitute a commercially reasonable method of valuation for the purposes of the Regulations.

Right of appropriation. Without prejudice to the other provisions of this DebentureCharge, to the extent that any of the Charged Assets constitute Property constitutes “financial collateral”, and this Debenture Charge and the obligations of the Company hereunder constitute a “security financial collateral agreementarrangement” (in each case as defined in, and for the purposes of, the Financial Collateral Arrangements (No. 2) Regulations 2003 (SI 2003/3226) (the “Regulations”), the Collateral Agent shall at any time on and or after the Enforcement Date have the right to appropriate all or any part of those the Charged Assets Property in or towards discharge of the Secured Liabilities. For this purpose, the parties agree that the value of any such Charged Assets so appropriated shall be the market price of such Charged Assets Property at the time the right of appropriation is exercised as determined by the Collateral Agent by reference to such method or source of valuation as the Collateral Agent may select, including by independent valuation. The Parties For this purpose, the parties agree that the methods or sources of valuation provided for in this Clause 10.6 6.2 (Right of appropriation) or selected by the Collateral Agent in accordance with this Clause 10.6 6.2 (Right of appropriation) shall constitute a commercially reasonable method of valuation for the purposes of the Regulations.

Right of appropriation. Without prejudice to the other provisions of this DebentureAssignation, to the extent that any of the Charged Assets Assigned Rights constitute “financial collateral”, and this Debenture Assignation and the obligations of the Company hereunder constitute a “security financial collateral agreementarrangement” (in each case as defined in, and for the purposes of, the Financial Collateral Arrangements (No. 2) Regulations 2003 (SI 2003/3226) (the “Regulations”), the Collateral Agent shall at any time on and or after the Enforcement Date have the right to appropriate all or any part of those Charged Assets the Assigned Rights in or towards discharge of the Secured Liabilities. For this purpose, the parties agree that the value of any such Charged Assets Assigned Rights so appropriated shall be the market price of such Charged Assets Assigned Rights at the time the right of appropriation is exercised as determined by the Collateral Agent by reference to such method or source of valuation as the Collateral Agent may select, including by independent valuation. The Parties For this purpose, the parties agree that the methods or sources of valuation provided for in this Clause 10.6 8.2 (Right of appropriation) or selected by the Collateral Agent in accordance with this Clause 10.6 8.2 (Right of appropriation) shall constitute a commercially reasonable method of valuation for the purposes of the Regulations.

Right of appropriation. Without prejudice to the other provisions of this DebentureDeed, to the extent that any of the Charged Assets Securities constitute “financial collateral”, and this Debenture Deed and the obligations of the Company hereunder constitute a “security financial collateral agreement” (in each case as defined in, and for the purposes of, the Financial Collateral Arrangements (No. 2) Regulations 2003 (SI 2003/3226) (the “Regulations”), the Collateral Agent shall at any time on and after the Enforcement Date have the right to appropriate all or any part of those Charged Assets Securities in or towards discharge of the Secured Liabilities. For this purpose, the parties Parties agree that the value of any such Charged Assets Securities so appropriated shall be the market price of such Charged Assets Securities at the time the right of appropriation is exercised as determined by the Collateral Agent by reference to such method or source of valuation as the Collateral Agent may select, including by independent valuation. The Parties agree that the methods or sources of valuation provided for in this Clause 10.6 (Right of appropriation) 8.5 or selected by the Collateral Agent in accordance with this Clause 10.6 (Right of appropriation) 8.5 shall constitute a commercially reasonable method of valuation for the purposes of the Regulations.

Right of appropriation. Without prejudice to the other provisions of this DebentureDeed, to the extent that any of the Charged Assets Securities constitute “financial collateral”, and this Debenture Deed and the obligations of the Company hereunder constitute a “security financial collateral agreement” (in each case as defined in, and for the purposes of, the Financial Collateral Arrangements (No. 2No.2) Regulations 2003 (SI 2003/3226) (the “Regulations”), the Collateral Agent shall at any time on and after the Enforcement Date have the right to appropriate all or any part of those Charged Assets Securities in or towards discharge of the Secured Liabilities. For this purpose, the parties agree that the value of any such Charged Assets Securities so appropriated shall be the market price of such Charged Assets Securities at the time the right of appropriation is exercised as determined by the Collateral Agent by reference to such method or source of valuation as the Collateral Agent may select, including by independent valuation. The Parties parties agree that the methods or sources of valuation provided for in this Clause 10.6 7.5 (Right of appropriation) or selected by the Collateral Agent in accordance with this Clause 10.6 7.5 (Right of appropriation) shall constitute a commercially reasonable method of valuation for the purposes of the Regulations.

Right of appropriation. Without prejudice to the any other provisions of rights and remedies under this Debenture, to the extent that any of the Charged Fixed Security Assets constitute or Floating Charge Assets constitutes “financial collateral”, ” and are subject to a legal or equitable mortgage under this Debenture and the obligations which is or forms part of the Company hereunder constitute a “security financial collateral agreementarrangement” (in each case as defined in, and for the purposes of, the Financial Collateral Arrangements (No. 2) Regulations 2003 (SI 2003/32262003 No. 3226) (the “Regulations”), the Collateral Agent Chargee shall at any time on and after the Enforcement Date also have the right to appropriate all or any part of those Charged Assets such financial collateral in or towards discharge of the Secured LiabilitiesObligations. For this purpose, the parties agree that the value of any such Charged Assets financial collateral so appropriated shall be be: (a) in the market price case of such Charged Assets cash, the amount standing to the credit of the Account, together with accrued but unposted interest, at the time the right of appropriation is exercised exercised; and (b) in the case of Investments, the market price of such Investments at such time as determined by the Collateral Agent Chargee (acting reasonably) by reference to a relevant public index or by such method or source of valuation other process as the Collateral Agent Chargee may select, including by independent valuation. The Parties In each case, the parties agree that the methods or sources method of valuation provided for in this Clause 10.6 (Right of appropriation) or selected by the Collateral Agent in accordance with this Clause 10.6 (Right of appropriation) Debenture shall constitute a commercially reasonable method of valuation for the purposes purpose of the Regulations.