Common use of Implementation of equalisation Clause in Contracts

Implementation of equalisation. (a) The provisions of this Clause ‎‎14 shall be applied at such time or times after the Enforcement Date as the Security Agent shall consider appropriate. (b) Without prejudice to the generality of paragraph (a) above, if the provisions of this Clause ‎‎14 have been applied before all the Liabilities have matured and/or been finally quantified, the Security Agent may elect to re-apply those provisions on the basis of revised Super Senior Credit Participations and the Super Senior Creditors shall make appropriate adjustment payments amongst themselves. (c) Without prejudice to the generality of paragraph (a) above, if the provisions of this Clause ‎‎14 have been applied before all the Liabilities have matured and/or been finally quantified, the Security Agent may elect to re-apply those provisions on the basis of revised Senior Secured Credit Participations and the Senior Secured Creditors shall make appropriate adjustment payments amongst themselves.