RRL Group definition
Examples of RRL Group in a sentence
Any release, settlement, discharge, re-assignment or arrangement (in this Clause 5 (Releases Conditional), a "RELEASE") given or made by the Security Trustee on the faith of any assurance, security or payment shall be conditional upon that assurance, security or payment not being avoided, reduced or ordered to be repaid under any enactment relating to liquidation, bankruptcy or insolvency of any RRL Group Company or any other person.
The Guarantor shall indemnify, subject to applicable law, and keep indemnified the Security Trustee on demand against any losses, liabilities, costs and expenses resulting from the failure of any RRL Group Company to observe any such purported obligation or liability, save and except for any such losses, liabilities, costs and expenses arising from the gross negligence or wilful misconduct of the Security Trustee.
All payments made or to be made by the Guarantor under this Deed shall be made in full without any deduction, withholding, set-off or counterclaim on account of any taxes or of any claim that the Guarantor or any other RRL Group Company may have against the Security Trustee or any other Finance Party.
The Security Trustee shall not be obliged to make any claim or demand on any RRL Group Company or to resort to any bill, note, right, remedy, guarantee, indemnity or lien or other ▇▇▇ns of payment from time to time held by or available to it before enforcing this Deed nor shall the Security Trustee be obliged to account for any money or other property received or recovered in consequence of any enforcement or realisation of any of the same.
In fulfilling its obligations hereunder, and without limiting any of its other obligations under this Deed, the Guarantor hereby irrevocably and unconditionally undertakes to the Security Trustee and agrees at all times to perform and comply with (as if it were named as the relevant obliged party therein), and to procure that any RRL Group Company performs and complies with, all of the obligations of it contained in the Facilities Agreement.
As from that time, all payments made to the Security Trustee for any RRL Group Company's account shall be credited (or be treated as having been credited) to the new account and no such payment shall operate to reduce the indebtedness or liability of the Guarantor under this Deed.
If the Guarantor shall have any right of proof in the liquidation of any RRL Group Company in respect of any matters unconnected with this Deed or any right of contribution from a co-guarantor, the Guarantor (if requested by the Security Trustee) shall exercise such rights on behalf of the Security Trustee and shall hold any dividend or moneys received in respect of the same on trust for the Security Trustee.
No RRL Group Company is in default in the payment of (or in the performance of any material obligation applicable to) any indebtedness in excess of U.S.$1,000,000, no Default is outstanding or would result from the making of any Loan and no RRL Group Company is in default under any material provision of any instrument to which it is party, any applicable law or contractual obligation or the terms or conditions upon which any Approval has been granted.
The Guarantor has not taken or received the benefit of any lien from the Borrower, any RRL Group Company or any other person in respect of its liabilities under this Deed.
If at any time within that period of 25 months a petition is presented to a competent court for a winding-up or administration order to be made in respect of any RRL Group Company or steps are taken to wind up any RRL Group Company voluntarily, then the Security Trustee may continue to retain all or part of this Deed for such further period as the Security Trustee in its absolute discretion shall determine.