Common use of Charge Clause in Contracts

Charge. 4.1 The Client, as beneficial owner, charges in favour of WLSL by way of first fixed charge all the Client’s respective rights, title, benefits and interests in and to all Collateral as a continuing security (“Charge”) for the payment and satisfaction on demand of all monies and liabilities absolute or contingent and performance of all obligations under the Margin Facility Terms which are now or at any time hereafter may be due, owing or incurred from or by the Client to WLSL, or for which the Client may be or become liable to WLSL on any account or in any manner whatsoever (whether alone or jointly with any other person and in whatever name style or form) together with interest from the date of demand to the date of repayment, and any commission, legal and other costs, charges and expenses as they appear in the records of WLSL. 4.2 The Charge shall be a continuing security notwithstanding any intermediate payment or settlement of account or satisfaction of the whole or any part of any sum owing by the Client to WLSL and notwithstanding the closing of any of the Client’s accounts with WLSL and which are subsequently reopened or the subsequent opening of any account by the Client either alone or jointly with others and shall extend to cover all or any sum of monies which shall for the time being constitute the balance due from the Client to WLSL on any account or otherwise. (a) Subject to Clauses 4.3(b) and 4.3(c) of this Schedule II, upon irrevocable payment in full of all sums which may be or become payable under this Agreement and the full performance of the Client’s obligations under the Margin Facility Terms, WLSL will at the Client’s request and expenses release the Charge in respect of the Collateral and will at the Client’s expense give such instructions and directions as the Client may reasonably require in order to perfect such release. (b) If WLSL considers that any amount paid to or recovered by WLSL by or from the Client and/or any guarantor or security provider in respect of any of the obligations of the Client to WLSL is capable of being avoided or reduced by virtue of any bankruptcy, insolvency, liquidation or similar laws, the security constituted hereunder shall continue and such amount shall not be considered to have been irrevocably paid. (c) Any settlement, discharge or release hereunder in relation to the Client or all or any part of the Charge shall be conditional upon no security or payment by the Client and/or the said guarantor or security provider in respect of the Client’s obligations to WLSL being avoided or reduced by virtue of any bankruptcy, insolvency, liquidation or similar laws of general application or any similar event or for any other reason and shall in the event of any such avoidance or reduction or similar event be void. 4.4 Until the Charge becomes enforceable, (a) WLSL will have the right, subject only to giving the Client notice, to exercise voting rights and other rights relating to the Collateral to protect the value of the Collateral; and (b) except as otherwise provided in this Agreement, the Client may direct the exercise of other rights attaching to, or connected with, the Collateral, but not in any manner which is inconsistent with the Client’s obligations under the Margin Facility Terms, or which in any way may prejudice WLSL’s rights in relation to the Collateral.

Charge. 4.1 The Client, as beneficial owner, charges in favour of WLSL the Company by way of first fixed charge all the Client’s respective rights, title, benefits and interests in and to all Collateral as a continuing security (“Charge”) for the payment and satisfaction on demand of all monies and liabilities absolute or contingent and performance of all obligations under the Margin Facility Terms which are now or at any time hereafter may be due, owing or incurred from or by the Client to WLSLthe Company, or for which the Client may be or become liable to WLSL the Company on any account or in any manner whatsoever (whether alone or jointly with any other person and in whatever name style or form) together with interest from the date of demand to the date of repayment, and any commission, legal and other costs, charges and expenses as they appear in the records of WLSLthe Company. 4.2 The Charge shall be a continuing security notwithstanding any intermediate payment or settlement of account or satisfaction of the whole or any part of any sum owing by the Client to WLSL the Company and notwithstanding the closing of any of the Client’s accounts with WLSL the Company and which are subsequently reopened or the subsequent opening of any account by the Client either alone or jointly with others and shall extend to cover all or any sum of monies which shall for the time being constitute the balance due from the Client to WLSL the Company on any account or otherwise. 4.3 (a) Subject to Clauses 4.3(b) and 4.3(c) of this Schedule III, upon irrevocable payment in full of all sums which may be or become payable under this Agreement and the full performance of the Client’s obligations under the Margin Facility Terms, WLSL the Company will at the Client’s request and expenses release the Charge in respect of the Collateral and will at the Client’s expense give such instructions and directions as the Client may reasonably require in order to perfect such release. (b) If WLSL considers that any amount paid to or recovered by WLSL by or from the Client and/or any guarantor or security provider in respect of any of the obligations of the Client to WLSL is capable of being avoided or reduced by virtue of any bankruptcy, insolvency, liquidation or similar laws, the security constituted hereunder shall continue and such amount shall not be considered to have been irrevocably paid. (c) Any settlement, discharge or release hereunder in relation to the Client or all or any part of the Charge shall be conditional upon no security or payment by the Client and/or the said guarantor or security provider in respect of the Client’s obligations to WLSL being avoided or reduced by virtue of any bankruptcy, insolvency, liquidation or similar laws of general application or any similar event or for any other reason and shall in the event of any such avoidance or reduction or similar event be void. 4.4 Until the Charge becomes enforceable, (a) WLSL will have the right, subject only to giving the Client notice, to exercise voting rights and other rights relating to the Collateral to protect the value of the Collateral; and (b) except as otherwise provided in this Agreement, the Client may direct the exercise of other rights attaching to, or connected with, the Collateral, but not in any manner which is inconsistent with the Client’s obligations under the Margin Facility Terms, or which in any way may prejudice WLSL’s rights in relation to the Collateral.

Charge. 4.1 The ClientCustomer, as beneficial owner, charges in favour of WLSL CMSHK by way of first fixed charge all the ClientCustomer’s respective rights, title, benefits and interests in and to all Collateral as a continuing security (“Charge”) for the payment and satisfaction on demand of all monies and liabilities absolute or contingent and performance of all obligations under the Margin Facility Terms which are now or at any time hereafter may be due, owing or incurred from or by the Client Customer to WLSLCMSHK, or for which the Client Customer may be or become liable to WLSL CMSHK on any account or in any manner whatsoever (whether alone or jointly with any other person and in whatever name style or form) together with interest from the date of demand to the date of repayment, and any commission, legal and other costs, charges and expenses as they appear in the records of WLSLCMSHK. 4.2 The Charge shall be a continuing security notwithstanding any intermediate payment or settlement of account or satisfaction of the whole or any part of any sum owing by the Client Customer to WLSL CMSHK and notwithstanding the closing of any of the ClientCustomer’s accounts with WLSL CMSHK and which are subsequently reopened or the subsequent opening of any account by the Client Customer either alone or jointly with others and shall extend to cover all or any sum of monies which shall for the time being constitute the balance due from the Client Customer to WLSL CMSHK on any account or otherwise. 4.3 (a) Subject to Clauses 4.3(b) and 4.3(c) of this Schedule III, upon irrevocable payment in full of all sums which may be or become payable under this Agreement and the full performance of the ClientCustomer’s obligations under the Margin Facility Terms, WLSL CMSHK will at the ClientCustomer’s request and expenses release the Charge in respect of the Collateral and will at the ClientCustomer’s expense give such instructions and directions as the Client Customer may reasonably require in order to perfect such release. (b) If WLSL considers that any amount paid to or recovered by WLSL by or from the Client and/or any guarantor or security provider in respect of any of the obligations of the Client to WLSL is capable of being avoided or reduced by virtue of any bankruptcy, insolvency, liquidation or similar laws, the security constituted hereunder shall continue and such amount shall not be considered to have been irrevocably paid. (c) Any settlement, discharge or release hereunder in relation to the Client or all or any part of the Charge shall be conditional upon no security or payment by the Client and/or the said guarantor or security provider in respect of the Client’s obligations to WLSL being avoided or reduced by virtue of any bankruptcy, insolvency, liquidation or similar laws of general application or any similar event or for any other reason and shall in the event of any such avoidance or reduction or similar event be void. 4.4 Until the Charge becomes enforceable, (a) WLSL will have the right, subject only to giving the Client notice, to exercise voting rights and other rights relating to the Collateral to protect the value of the Collateral; and (b) except as otherwise provided in this Agreement, the Client may direct the exercise of other rights attaching to, or connected with, the Collateral, but not in any manner which is inconsistent with the Client’s obligations under the Margin Facility Terms, or which in any way may prejudice WLSL’s rights in relation to the Collateral.

Charge. 4.1 The Client, as beneficial owner, charges in favour of WLSL WLIS by way of first fixed charge all the Client’s respective rights, title, benefits and interests in and to all Collateral as a continuing security (“Charge”) for the payment and satisfaction on demand of all monies and liabilities absolute or contingent and performance of all obligations under the Margin Facility Terms which are now or at any time hereafter may be due, owing or incurred from or by the Client to WLSLWLIS, or for which the Client may be or become liable to WLSL WLIS on any account or in any manner whatsoever (whether alone or jointly with any other person and in whatever name style or form) together with interest from the date of demand to the date of repayment, and any commission, legal and other costs, charges and expenses as they appear in the records of WLSLWLIS. 4.2 The Charge shall be a continuing security notwithstanding any intermediate payment or settlement of account or satisfaction of the whole or any part of any sum owing by the Client to WLSL WLIS and notwithstanding the closing of any of the Client’s accounts with WLSL WLIS and which are subsequently reopened or the subsequent opening of any account by the Client either alone or jointly with others and shall extend to cover all or any sum of monies which shall for the time being constitute the balance due from the Client to WLSL WLIS on any account or otherwise. (a) Subject to Clauses 4.3(b) and 4.3(c) of this Schedule II, upon irrevocable payment in full of all sums which may be or become payable under this Agreement and the full performance of the Client’s obligations under the Margin Facility Terms, WLSL WLIS will at the Client’s request and expenses release the Charge in respect of the Collateral and will at the Client’s expense give such instructions and directions as the Client may reasonably require in order to perfect such release. (b) If WLSL WLIS considers that any amount paid to or recovered by WLSL WLIS by or from the Client and/or any guarantor or security provider in respect of any of the obligations of the Client to WLSL WLIS is capable of being avoided or reduced by virtue of any bankruptcy, insolvency, liquidation or similar laws, the security constituted hereunder shall continue and such amount shall not be considered to have been irrevocably paid. (c) Any settlement, discharge or release hereunder in relation to the Client or all or any part of the Charge shall be conditional upon no security or payment by the Client and/or the said guarantor or security provider in respect of the Client’s obligations to WLSL WLIS being avoided or reduced by virtue of any bankruptcy, insolvency, liquidation or similar laws of general application or any similar event or for any other reason and shall in the event of any such avoidance or reduction or similar event be void. 4.4 Until the Charge becomes enforceable, (a) WLSL WLIS will have the right, subject only to giving the Client notice, to exercise voting rights and other rights relating to the Collateral to protect the value of the Collateral; and (b) except as otherwise provided in this Agreement, the Client may direct the exercise of other rights attaching to, or connected with, the Collateral, but not in any manner which is inconsistent with the Client’s obligations under the Margin Facility Terms, or which in any way may prejudice WLSLWLIS’s rights in relation to the Collateral.