Common use of Additional Security Clause in Contracts

Additional Security. If the Borrower grant to a third party any security for the performance of any External Debt Instrument or any preference or priority in respect thereof, the Borrower shall, if so required by the Bank, provide to the Bank equivalent security for the performance of its obligations under this Contract or grant to the Bank equivalent preference or priority. If the Borrower concludes with any other financial creditor a financing agreement that includes a loss-of-rating clause or a covenant or other provision regarding its financial ratios, if applicable, that is not provided for in this Contract or is more favourable to the relevant financial creditor than any equivalent provision of this Contract is to the Bank, the Borrower shall promptly inform the Bank and shall provide a copy of the more favourable provision to the Bank. The Bank may request that the Borrower promptly executes an agreement to amend this Contract so as to provide for an equivalent provision in favour of the Bank.

Additional Security. If Should the Borrower grant to a third party any security for the performance of any External Debt Instrument or any preference or priority in respect thereof, the Borrower shall, if so required by the Bank, provide to the Bank equivalent security for the performance of its obligations under this Contract or grant to the Bank equivalent preference or priority. Clauses by inclusion If the Borrower concludes with any other medium or long term financial creditor a financing agreement that includes a loss-of-rating clause or a covenant or other provision regarding its financial ratios, if applicable, pari passu ranking or cross default that is not provided for in this Contract or is more favourable to stricter than the relevant financial creditor than any equivalent provision of this Contract is to the BankContract, the Borrower shall promptly so inform the Bank and shall provide a copy shall, at the request of the more favourable provision to the Bank. The Bank may request that the Borrower promptly executes , execute an agreement to amend this Contract so as to provide for an equivalent provision in favour of the Bank.