Common use of Postponement of Claims Clause in Contracts

Postponement of Claims. That the Guarantor will not claim in any liquidation, bankruptcy, composition or arrangement of the Tenant in competition with the Landlord and will remit to the Landlord the proceeds of all judgments and all distributions it may receive from any liquidator or Official Assignee of the Tenant and will hold for the benefit of the Landlord all security and rights the Guarantor may have over assets of the Tenant whilst any liabilities of the Tenant or the Guarantor to the Landlord remain outstanding.

Postponement of Claims. That during the Term of the Guarantee the Guarantor will not claim in any liquidation, bankruptcy, composition or arrangement of the Tenant in competition with the Landlord and will remit to the Landlord the proceeds of all judgments and all distributions it may receive from any liquidator or Official Assignee of the Tenant and will hold for the benefit of the Landlord all security and rights the Guarantor may have over assets of the Tenant whilst any liabilities of the Tenant or the Guarantor to the Landlord remain outstanding.

Postponement of Claims. That the Guarantor will not claim in any liquidation, bankruptcy, composition or arrangement of the Tenant Lessee in competition with the Landlord and will remit to the Landlord the proceeds of all judgments judgements and all distributions it may receive from any liquidator or Official Assignee of the Tenant Lessee and will hold for the benefit of the Landlord all security and rights the Guarantor may have over assets of the Tenant Lessee whilst any liabilities of the Tenant Lessee or the Guarantor to the Landlord remain outstanding.

Postponement of Claims. That the Guarantor will not claim in any liquidation, bankruptcy, composition or arrangement of the Tenant Lessee in competition with the Landlord and will remit to the Landlord the proceeds of all judgments judgements and all distributions it may receive from any liquidator or Official Assignee of the Tenant Lessee and will hold for the benefit of the Landlord all security and rights the Guarantor may have over assets of the Tenant Lessee whilst any liabilities of the Tenant Lessee or the Guarantor to the Landlord remain outstanding.