Common use of Borrowing Powers Clause in Contracts

Borrowing Powers. The Directors shall have power to raise or borrow any sum or sums of money and to secure the payment or repayment of such moneys and any other obligation or liability of the Company in such manner and on such terms and conditions in all respects as they think fit (not inconsistent with the Corporate Plan), whether upon the security of any mortgage or by the issue of debentures or debenture stock of the Company charged upon all or any of the property of the Company (both present and future), including its goodwill undertaking and uncalled capital for the time being, or upon bills of exchange promissory notes or other obligations or otherwise.