Common use of Recovering Creditor’s rights Clause in Contracts

Recovering Creditor’s rights. (a) Any amount paid or distributed by a Creditor (a “Recovering Creditor”) to the Collateral Agent under Clause 4 (Effect of Insolvency Event) or Clause 5 (Turnover of Receipts) shall be treated as having been paid or distributed by the relevant Debtor and shall be applied by the Collateral Agent in accordance with Clause 12 (Application of Proceeds).

Recovering Creditor’s rights. (a) Any amount paid or distributed by a Creditor (a “Recovering Creditor”) to the Collateral Security Agent under Clause 4 6 (Effect of Insolvency Event) or Clause 5 7 (Turnover of Receipts) shall be treated as having been paid or distributed by the relevant Debtor and shall be applied by the Collateral Security Agent in accordance with Clause 12 14 (Application of Proceeds).

Recovering Creditor’s rights. (aA) Any amount paid or distributed by a Creditor (a “Recovering Creditor”) to the Collateral Security Agent under Clause 4 5 (Effect of Insolvency Event) or Clause 5 6 (Turnover of Receipts) shall be treated as having been paid or distributed by the relevant Debtor Obligor and shall be applied by distributed to the Collateral Agent Security Agent, Agents, Arrangers and Creditors (each a “Sharing Creditor”) in accordance with Clause 12 (Application the terms of Proceeds)this Agreement.

Recovering Creditor’s rights. (a) Any amount paid or distributed by a Secured Creditor (a “Recovering Creditor”) to the Collateral Common Security Agent under Clause 4 5 (Effect of Insolvency Event) or Clause 5 6 (Turnover of Receipts) shall be treated as having been paid or distributed by the relevant Debtor Company and shall be applied by the Collateral Common Security Agent in accordance with Clause 12 (Application of Proceeds).