Common use of Securitisation Clause in Contracts

Securitisation. (a) The Lender reserves the right to assign/sell/securitise the Facility with or without security, if any, in any manner by transferring and/or assigning or otherwise all its right, title and interest which the Lender deems appropriate and the Borrower hereby expressly agrees that in that event, the Lender is not required to obtain any permission or put the Borrower to any notice. (b) The Borrower shall be bound to accept any such securitisation and any such sale, assignment, or transfer and the Borrower shall accept such other party/ies, as creditors exclusively or as a joint creditor with the Lender, or as a creditor exclusively with the right to Lender to continue to exercise all powers hereunder on behalf of any such other party. (c) Any cost in this behalf, whether on account of such sale, assignment or transfer or enforcement of rights and recovery of outstanding and dues shall be to the account of the Borrower. The Borrower undertakes to pay to third parties the difference between the Loan outstanding and the amount received by the Lender in the event of transfer of the portfolio to a third party.

Securitisation. (a) The Lender Bank reserves the right to assign/sell/assign / sell / securitise the Facility Facility/ies with or without security, if any, in any manner by transferring and/or and / or assigning or otherwise all its rightrights, title and interest which the Lender Bank deems appropriate and the Borrower hereby expressly agrees that in that event, the Lender Bank is not required to obtain any permission or put the Borrower to any notice. (b) The Borrower shall be bound to accept any such securitisation and any such salesales, assignment, or transfer and the Borrower shall accept such other party/ies, party(s) as creditors exclusively or as a joint creditor with the LenderBank, or as a creditor exclusively with the right to Lender of the Bank to continue to exercise all powers hereunder on behalf of any such other party. (c) Any cost in this behalf, whether on account of such sale, assignment or transfer or enforcement of rights and recovery of outstanding and dues shall be to the account of the Borrower. The Borrower undertakes to pay to third parties the difference between the Loan outstanding dues of towards the Facility/ies and the amount received by the Lender Bank in the event of transfer of the portfolio to a third party.