Examples of Chargor in a sentence
The Chargor may not assign or transfer any or all of its rights and/or obligations under this Deed.
If the Security Trustee considers that any amount paid or credited to or recovered by any Beneficiary under any Transaction Document is capable of being avoided or otherwise set aside on the winding-up of the Chargor or any other person, or otherwise, that amount shall not be considered to have been paid for the purposes of determining whether all the Secured Obligations have been irrevocably paid.
Subject to Clauses 25.3 and 25.5, if the Security Trustee is satisfied that all the Secured Obligations have been irrevocably paid in full and that no further Secured Obligations may become outstanding, the Security Trustee shall promptly at the request and cost of the Chargor release, reassign or discharge (as appropriate) the Charged Assets from the Charges (except to the extent already disposed of or enforced against in accordance with this Deed).
The Chargor irrevocably and unconditionally guarantees and covenants to pay, as a primary obligor and not merely as a surety, for the benefit of the Security Trustee (as trustee for the Beneficiaries), by way of an independent payment obligation, the punctual payment of the Secured Obligations when due.
The submission of the Chargor to the jurisdiction of the Hong Kong courts shall not restrict the right of the Security Trustee to take proceedings against the Chargor in any other courts having, claiming or accepting jurisdiction over the Chargor, or any of its assets; nor shall the taking of proceedings in any one or more jurisdiction preclude the taking of proceedings in any other jurisdiction, whether concurrently or not.