Existing Charges Clause Samples
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Existing Charges. (a) The Company has under a Memorandum of Charge dated the 13th day of December, 1988 (hereinafter called "the First Charge") executed a first fixed charge over the Property in favour of Intairdril Ltd. of c/o Pool Company, 1037▇ ▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇▇▇▇, ▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇ America (hereinafter called "Intairdril").
(b) The Company has, inter alia, pursuant to a loan agreement dated the 28th day of April, 1995 and the debenture of the same date (hereinafter called "the Second Charge") executed in favour of the Bank a second fixed charge over the Property as security for banking facilities granted by the Bank to the Company up to the sum of United States Dollars Four million (USD4,000,000/-) for principal together with interest thereon.
Existing Charges. Except as otherwise approved in writing by the Lender, no charge of any nature exists on or over the Borrowers and/or Guarantor’s assets, the subject of the Mortgage or security interest;
Existing Charges. Except as otherwise permitted under this Agreement or approved in writing by the Lender, no Charge of any nature exists on or over the Obligor’s assets, the Property or the Collateral.
Existing Charges. (a) The Company has fully settled the debts secured by the Existing Charges as at the date of this Agreement and the Vendor agrees to at its own costs and expenses use its best endeavours to procure the registration of the discharge of the Existing Charges with the CCM within one (1) month from the Completion Date.
(b) In the event that the discharge of the Existing Charges is not registered with the CCM within one (1) month from the Completion Date, the Parties agree to cooperate to procure the registration of the discharge of the Existing Charges as soon as practicable provided always that all costs and expenses are solely borne by the Vendor.