Common use of Satisfaction of Debts Clause in Contracts

Satisfaction of Debts. Each Secured Creditor will accept the distribution of money to it under clause 13.1 in full and final satisfaction of all Secured Moneys owing to it and any debt represented by any shortfall after any final distribution under clause 13.1 will thereupon be extinguished. -------------------------------------------------------------------------------- 14. Supplemental Security Trustee provisions

Appears in 2 contracts

Sources: Security Trust Deed (Securitisation Advisory Services Pty LTD), Security Trust Deed (Securitisation Advisory Services Pty LTD)