Common use of INTERIM PROTECTION OF SERVICE AND PRESERVATION OF SECURITY Clause in Contracts

INTERIM PROTECTION OF SERVICE AND PRESERVATION OF SECURITY. 4 On the Agent issuing the Notice of Event of Default (and the LICENSEE has not cured the default for a period of 30 days) as hereinabove provided or in other circumstances which in the considered opinion of the Agent is likely to affect adversely and substantially the Lenders’ security, the Lenders shall be entitled to institute protective legal proceedings for a receivership to preserve and protect their security. In the first instance, the Agent shall notify the LICENSOR, to assume such receivership and operate the service, pending the transfer/assignment /endorsement of the LICENCE as provided herein but in the event LICENSOR declines to assume receivership, the Lenders shall be entitled to the appointment of a Receiver, with or without the intervention of the Court, of the Project and the receivables pending the transfer/ assignment/endorsement of the LICENCE in accordance with this AGREEMENT by the LICENSOR. The receivership shall be co-terminus with the transfer/assignment/ endorsement of the LICENCE to a Selectee. The Receiver shall be responsible for protecting the assets in receivership and rendering a true and proper account of the receivership to the Agent in accordance with the terms of its appointment. The Receiver shall make best efforts to protect the subscriber base of the Network and continue the Service, in accordance with the LICENCE obligations. Such a Receiver can be appointed by consent of the LICENSOR and the Lenders as herein contained, or in a legal proceeding for appointment of a Receiver, notwithstanding that no recovery or mortgage suit or any suit or proceeding for enforcement of the Lenders' Security is instituted by the Lenders. Such an action for appointment of the Receiver or Court Receiver as above shall be without prejudice to the other rights and remedies of the Lenders under the Loan Agreements.

INTERIM PROTECTION OF SERVICE AND PRESERVATION OF SECURITY. 4 On the Agent issuing the Notice of Event of Default (and the LICENSEE has not cured the default for a period of 30 days) as hereinabove provided or in other circumstances which in the considered opinion of the Agent is likely to affect adversely and substantially the Lenders’ security, the Lenders shall be entitled to institute protective legal proceedings for a receivership to preserve and protect their security. In the first instance, the Agent shall notify the LICENSOR, to assume such receivership and operate the service, pending the transfer/assignment /endorsement of the LICENCE LICENSE as provided herein but in the event LICENSOR declines to assume receivership, the Lenders shall be entitled to the appointment of a Receiver, with or without the intervention of the Court, of the Project and the receivables pending the transfer/ assignment/endorsement of the LICENCE LICENSE in accordance with this AGREEMENT by the LICENSOR. The receivership shall be co-terminus with the transfer/assignment/ endorsement of the LICENCE LICENSE to a Selectee. The Receiver shall be responsible for protecting the assets in receivership and rendering a true and proper account of the receivership to the Agent in accordance with the terms of its appointment. The Receiver shall make best efforts to protect the subscriber base of the Network and continue the Service, in accordance with the LICENCE LICENSE obligations. Such a Receiver can be appointed by consent of the LICENSOR and the Lenders as herein contained, or in a legal proceeding for appointment of a Receiver, notwithstanding that no recovery or mortgage suit or any suit or proceeding for enforcement of the Lenders' Security is instituted by the Lenders. Such an action for appointment of the Receiver or Court Receiver as above shall be without prejudice to the other rights and remedies of the Lenders under the Loan Agreements.

INTERIM PROTECTION OF SERVICE AND PRESERVATION OF SECURITY. 4 On 4.1 In the Agent issuing event of the Notice Senior Lenders notify MMRDA and the Concessionaire of the Event of Default (and the LICENSEE Concessionaire has not cured the default for a period of 30 days) as hereinabove provided or in other special circumstances which in affecting the considered opinion security of the Agent is likely to affect adversely and substantially the Senior Lenders’ security, the Senior Lenders shall be entitled to institute protective legal proceedings for a receivership (the "Receiver") to maintain, preserve and protect their securitythe assets (other than the Concession Agreement including the Concession) held as security by the Senior Lenders provided always that such receiver shall be MMRDA if such assets are in the opinion of MMRDA necessary and required for the operation and maintenance of the MRTS Project and the Parties hereby consent and agree to the same. The Lenders’ Representative shall in such an event notify MMRDA to assume receivership of the assets held as security and MMRDA shall operate and maintain the same pending the substitution of the Concessionaire by the Selectee. In the first instanceevent MMRDA does not assume receivership and declines the request of the Lenders’ Representative, the Agent Lenders’ Representative shall notify the LICENSOR, to assume such receivership for itself and operate the service, pending the transfer/assignment /endorsement each of the LICENCE as provided herein but in the event LICENSOR declines to assume receivershipSenior Lenders, the Lenders shall be entitled to seek the appointment of a Receiver, with or without Court Receiver for the intervention Concessionaire's assets held as security and MMRDA shall operate and maintain the same pending substitution as aforesaid and/or the takeover of the Court, of Concession Agreement including the Project Concession and the receivables pending the transfer/ assignment/endorsement of the LICENCE MRTS Project in accordance with the Concession Agreement or this AGREEMENT Agreement by the LICENSORMMRDA. The receivership All the receivables shall be co-terminus deposited by the Receiver in the Escrow Account and shall be dealt with in accordance with the transfer/assignment/ endorsement of the LICENCE to a SelecteeConcession Agreement. The Receiver shall be responsible for protecting the assets in receivership and rendering shall render a true and proper account of the receivership to the Agent Senior Lenders in accordance with the terms of its appointment. The Receiver shall make best efforts to protect operate and maintain the subscriber base of the Network and continue the ServiceMRTS Project, in accordance with the LICENCE obligationsobligations of the Concessionaire under the Concession Agreement. Such a Receiver can Any person other than MMRDA may be appointed by as Receiver only with the prior consent of the LICENSOR and the Lenders as herein contained, or MMRDA. in a legal proceeding declaratory suit for appointment of a Receiver, notwithstanding that no recovery or mortgage suit or any suit or proceeding for enforcement of the Senior Lenders' Security security under the Financing Documents is instituted by the Lenders. Such an ’ Representative for itself or the Senior Lenders, any action for appointment of the MMRDA as Receiver or appointment of an Independent Court Receiver as above shall be without prejudice to for the other rights and remedies of MMRDA, and of the Senior Lenders under the Loan AgreementsFinancing Documents.

INTERIM PROTECTION OF SERVICE AND PRESERVATION OF SECURITY. 4 4. On the Agent issuing the Notice of Event of Default (and the LICENSEE has not cured the default for a period of 30 days) as hereinabove provided or in other circumstances which in the considered opinion of the Agent is likely to affect adversely and substantially the Lenders’ security, the Lenders shall be entitled to institute protective legal proceedings for a receivership to preserve and protect their security. In the first instance, the Agent shall notify the LICENSOR, to assume such receivership and operate the serviceservice , pending the transfer/assignment /endorsement / endorsement of the LICENCE as provided herein but in the event LICENSOR declines to assume receivership, the Lenders shall be entitled to the appointment of a Receiver, with or without the intervention of the Court, of the Project and the receivables pending the transfer/ assignment/assignment / endorsement of the LICENCE in accordance with this AGREEMENT by the LICENSOR. The receivership shall be co-terminus with the transfer/assignment/ assignment/endorsement of the LICENCE to a Selectee. The Receiver shall be responsible for protecting the assets assents in receivership and rendering a true and proper account of the receivership to the Agent in accordance with the terms of its appointment. The Receiver shall make best efforts to protect the subscriber base of the Network and continue the Service, in accordance with the LICENCE obligations. Such a Receiver can cab be appointed by consent of the LICENSOR L;ICENSOR and the Lenders as herein contained, or in a legal proceeding for appointment of a Receiver, notwithstanding that no recovery or mortgage suit or any suit or proceeding for enforcement of the Lenders' ’ Security is instituted by the Lenders. Such an action for appointment of the Receiver or Court Receiver as above shall be without prejudice to the other rights and remedies of the Lenders under the Loan Agreements.

INTERIM PROTECTION OF SERVICE AND PRESERVATION OF SECURITY. 4 On the Agent issuing the Notice of Event of Default (and the LICENSEE has not cured the default for a period of 30 days) as hereinabove provided or in other circumstances which in the considered opinion of the Agent is likely to affect adversely and substantially the Lenders’ security, the Lenders shall be entitled to institute protective legal proceedings for a receivership to preserve and protect their security. In the first instance, the Agent shall notify the LICENSOR, to assume such receivership and operate the service, pending the transfer/assignment /endorsement assignment/endorsement of the LICENCE as provided herein but in the event LICENSOR declines to assume receivership, the Lenders shall be entitled to the appointment of a Receiver, with or without the intervention of the Court, of the Project and the receivables pending the transfer/ transfer/assignment/endorsement of the LICENCE in accordance with this AGREEMENT by the LICENSOR. The receivership shall be co-terminus with the transfer/assignment/ assignment/endorsement of the LICENCE to a Selectee. The Receiver shall be responsible for protecting the assets in receivership and rendering a true and proper account of the receivership to the Agent in accordance with the terms of its appointment. The Receiver shall make best efforts to protect the subscriber base of the Network and continue the Service, in accordance with the LICENCE obligations. Such a Receiver can be appointed by consent of the LICENSOR and the Lenders as herein contained, or in a legal proceeding for appointment of a Receiver, notwithstanding that no recovery or mortgage suit or any suit or proceeding for enforcement of the Lenders' ’ Security is instituted by the Lenders. Such an action for appointment of the Receiver or Court Receiver as above shall be without prejudice to the other rights and remedies of the Lenders under the Loan Agreements.