Common use of Intra-Group Liabilities Clause in Contracts

Intra-Group Liabilities. (a) Each of the Parties agrees that with effect from the date of this Agreement and until the Final Discharge Date, the Intra-Group Liabilities are, in any Insolvency Proceedings in relation to the relevant Debtor or Security Provider, postponed and subordinated to the Liabilities owed by that Debtor or Security Provider to the Facilities Agreement Creditors, the Refinancing Creditors and the Noteholders. (b) This Agreement does not purport to rank any of the Intra-Group Liabilities as between themselves.