Secured Creditor. Each of the parties to this Agreement acknowledges and agrees that the Secretary of State shall, subject to clause 9.4 (Postponement), be a Secured Creditor in respect of all of its rights under clauses 9.1 (Reimbursement and indemnity) and 9.2 (Subrogation).
Appears in 2 contracts
Sources: Discontinuation Agreement, Discontinuation Agreement