Common use of Payment and Security Clause in Contracts

Payment and Security. The Junior Lender may retain and pay out of any money in the Junior Lender's hands all sums necessary to effect the indemnity contained in this Clause 11 and all sums payable by the Borrower under this Clause 11 shall form part of the monies hereby secured.

Appears in 2 contracts

Sources: Subordinated Project Contracts Assignment (Aes China Generating Co LTD), Subordinated Borrower Charge Over Accounts (Aes China Generating Co LTD)

Payment and Security. The Junior Lender may retain and pay out of any money in the Junior Lender's hands all sums necessary to effect the indemnity contained in this Clause 11 10.03 and all sums payable by the Borrower under this Clause 11 10.03 shall form part of the monies hereby secured.

Appears in 1 contract

Sources: Subordinated Insurance Assignment (Aes China Generating Co LTD)