Common use of Calls and Voting Rights Clause in Contracts

Calls and Voting Rights. 7.6.1 Notwithstanding any provision of this paragraph 7, the Customer will pay all calls, premiums and other payments due on any of the Collateral and, if so requested by the Bank, shall within seven days of such request produce evidence satisfactory to the Bank of such payment, failing which the Bank may make such payments on behalf of the Customer and any sum so paid shall be reimbursed by the Customer on demand and, pending reimbursement, shall be secured on the Collateral and may be debited to any Account of the Customer as the Bank determines and shall bear interest at the rate of 8 per cent per annum over the Bank’s base lending rate at any time.