Common use of Assignment and Postponement Clause in Contracts

Assignment and Postponement. The Guarantor hereby (i) grants to the Administrative Agent a security interest in all Intercompany Debt as general and continuing collateral security for the Guarantor Liabilities, and (ii) postpones all Intercompany Debt to the payment in full of the Borrower Liabilities. All moneys received by the Guarantor in respect of Intercompany Debt shall be received in trust for the Administrative Agent (on behalf of the Finance Parties) and, immediately following such receipt, shall be paid over to the Administrative Agent. This assignment and postponement is independent of the guarantee hereunder and will remain in full force and effect until, in the case of the assignment, the liability of the Guarantor under this Agreement has been discharged or terminated and, in the case of the postponement, until all Guarantor Liabilities are performed and paid in full.

Assignment and Postponement. The Guarantor hereby (i) grants to the Administrative Agent a security interest in all Intercompany Debt as general and continuing collateral security for the Guarantor Liabilities, and (ii) postpones all Intercompany Debt to the payment in full of the Borrower Liabilities. All moneys received by the Guarantor in respect of Intercompany Debt shall be received in trust for the Administrative Agent (on behalf of the Finance PartiesLender) and, immediately following such receipt, shall be paid over to the Administrative Agent. This assignment and postponement is independent of the guarantee hereunder and will remain in full force and effect until, in the case of the assignment, the liability of the Guarantor under this Agreement has been discharged or terminated and, in the case of the postponement, until all Guarantor Liabilities are performed and paid in full.