Common use of Assignment and Postponement Clause in Contracts

Assignment and Postponement. The Guarantor hereby (a) grants to the Creditor a security interest in all Intercompany Debt as general and continuing collateral security for the Guarantor Liabilities, and (b) postpones all Intercompany Debt to the payment in full of the Debtor Liabilities. All moneys received by the Guarantor in respect of Intercompany Debt shall be received in trust for the Creditor and, immediately following such receipt, shall be paid over to the Creditor.

Assignment and Postponement. The Guarantor hereby (a) grants assigns by way of security to the Creditor a security interest in Creditor, all Intercompany Debt as general and continuing collateral security for the Guarantor LiabilitiesDebt, and (b) postpones all Intercompany Debt to the payment in full of the Debtor Guaranteed Liabilities. All moneys received by the Guarantor in respect of Intercompany Debt shall be received in trust for the Creditor and, immediately following such receipt, shall be paid over to the Creditor.