Common use of Waiver of Fraudulent Transfer Claims; Turnover of Proceeds Received in Fraudulent Transfer Actions Clause in Contracts

Waiver of Fraudulent Transfer Claims; Turnover of Proceeds Received in Fraudulent Transfer Actions. The Company and Gazit-Globe each hereby waives any rights it may now or hereafter have to pursue any fraudulent transfer actions against any Person that may adversely affect the interests of the Bank, BLL or the Collateral Agent in connection with or related in any way to this Agreement, the Credit and Advances made hereunder, the Collateral and the Secured Obligations. If, notwithstanding such waiver, the Company receives, following the occurrence and during the continuance of an Event of Default, any payment(s), funds, property, proceeds or recoveries of any kind on account of, or attributable to, any such causes of action, whether brought by the Company, Gazit-Globe or any other Person, then the Company agrees that it will promptly turn over the same to the Bank in the form received and held or applied as collateral security in accordance with the Loan Documents. To the extent permitted by Applicable Law, the Company and Gazit-Globe each hereby grants to the Bank and the Collateral Agent a security interest in any such rights and recoveries to secure the Secured Obligations.

Waiver of Fraudulent Transfer Claims; Turnover of Proceeds Received in Fraudulent Transfer Actions. The Company and Gazit-Globe each hereby waives any rights it may now or hereafter have to pursue any fraudulent transfer actions against any Person that may adversely affect the interests of the Bank, BLL or the Collateral Agent in connection with or related in any way to this Agreement, the Credit and Advances made hereunder, the Collateral and the Secured Obligations. If, notwithstanding such waiver, the Company receives, following the occurrence and during the continuance of an Event of Default, any payment(s), funds, property, proceeds or recoveries of any kind on account of, or attributable to, any such causes of action, whether brought by the Company, Gazit-Globe Company or any other Person, then the Company agrees that it will promptly turn over the same to the Bank in the form received and held or applied as collateral security in accordance with the Loan Documents. To the extent permitted by Applicable Law, the Company and Gazit-Globe each hereby grants to the Bank bank and the Collateral Agent a security interest in any such rights and recoveries to secure the Secured Obligations.