Common use of Scope of Security Interest Clause in Contracts

Scope of Security Interest. (1) To the extent that an assignment of amounts payable and other proceeds arising under or in connection with any agreement, licence, permit or quota of the Obligor (each, a "Restricted Asset") is prohibited by the terms thereof, the Security Interest created hereunder will constitute a trust created in favour of the Collateral Agent and the Secured Creditors pursuant to which the Obligor shall hold as trustee all proceeds arising under or in connection with the Restricted Asset in trust for the Collateral Agent on the following basis:

Scope of Security Interest. (1) To the extent that an assignment of amounts payable and other proceeds arising under or in connection with any agreement, licencelicense, permit or quota of the Obligor (each, a "“Restricted Asset"”) is prohibited by the terms thereof, the Security Interest created hereunder will constitute a trust created in favour of the Collateral Agent and the Secured Creditors pursuant to which the Obligor shall hold as trustee all proceeds arising under or in connection with the Restricted Asset in trust for the Collateral Agent on the following basis:

Scope of Security Interest. (1) To the extent that an assignment of amounts payable and other proceeds arising under or in connection with with, or the grant of a security interest in any agreement, licence, permit or quota of the Obligor would result in the breach or termination of such agreement, licence, permit or quota (each, a "“Restricted Asset") is prohibited by the terms thereof”), the Security Interest created hereunder with respect to each Restricted Asset will constitute a trust created in favour of the Collateral Agent and Agent, for the benefit of the Secured Creditors Creditors, pursuant to which the Obligor shall hold holds as trustee all proceeds arising under or in connection with the Restricted Asset in trust for the Collateral Agent Agent, for the benefit of the Secured Creditors, on the following basis:

Scope of Security Interest. (1) To the extent that an assignment of amounts payable and other proceeds arising under or in connection with any agreement, licencelicense, permit or quota of the Obligor (each, a "Restricted AssetRESTRICTED ASSET") is prohibited by the terms thereof, the Security Interest created hereunder will constitute a trust created in favour of the Collateral Agent and the Secured Creditors pursuant to which the Obligor shall hold as trustee all proceeds arising under or in connection with the Restricted Asset in trust for the Collateral Agent on the following basis: