Transaction Security and Guarantees. (a) As Security for the due and punctual fulfilment of the Secured Obligations, the Company shall procure that, on or about the Effective Date, the following Transaction Security is granted in favour of the Security Agent: (i) the Company Security Interest Agreement; (ii) the Issuer Share Pledge; (iii) the Issuer Receivables Pledge; (iv) the Issuer Bank Account Security Interest Agreement; (v) the UK Bidco Debenture; (vi) the UK Bidco Share Pledge; and (vii) the UK Bidco Receivables Pledge. (b) The Company shall procure that, on or about the Effective Date, each of the Guarantors shall, subject to paragraph (c) below, grant a Guarantee in accordance with the applicable law as credit support for the due and punctual fulfilment of the Secured Obligations; provided that any claims under such Guarantees shall rank as set forth in Clause 2.3 (Status of the Bonds and the Guarantees). (c) On or about the Effective Date, all Transaction Security and Guarantees existing immediately prior to the Effective Date shall be supplemented and/or reaffirmed.
Appears in 2 contracts