Persons entitled
- Union Bank of Switzerlandas Facility Agent and Security Trustee
Amount secured
(A) all costs, charges,expenses and liabilities (and all interest thereon as provided in the bank security) incurred by or on behalf of the facility agent or (subject to certain conditions) the lessor and any receiver or attorney, in each case, in connection with carrying out or purporting to carry out its duties and exercising its powers and discretions under the intercreditor agreement and the bank security or, as the case may be, the lessor security and the remuneration of every receiver under the bank security or, as the case may be, the lessor security; (b) the lesser debt; (c) the bank debt; and (d) any secured liabilities not referred to in paragraphs (a)-(c) (inclusive) above
Short particulars
The intercreditor agreement provides that until the later of the bank discharge date and the lessor discharge date the company shall not : (a) be subrogated to any rights security or monies held received or receivable by any secured party or be entitled to any right of contribution in respect of any payment made or money received on account of the secured liabilities; (b) except in respect of liabilities arising under, or as damages for the breach of, the turnkey construction contract, be entitled nor shall it claim to renk as creditor against the estate or in the bankruptcy or liquidation of a borrower in competition with any secured party or the lessor. See the mortgage charge document for full details.