Collaterals. 4.5.1 The Bonds shall be secured by the Mortgage, the Share Pledge and the Receivables Pledge. 4.5.2 In case the Issuer incurs a financial indebtedness in accordance with Clause 8.5, the Issuer may establish a first ranking mortgage in favour of the credit institution or financial institution only with a prior written consent of the Bondholders (which shall not be unreasonably withheld), provided that a second ranking mortgage is maintained for the benefit of the Bondholders. The Bondholders shall not withhold such consent if the financial indebtedness incurred by the Issuer is used to partially refinance the Issuer’s obligations towards the Bondholders.
Appears in 3 contracts
Sources: Subscription Agreement, Subscription Agreement, Subscription Agreement
Collaterals. 4.5.1 The Bonds shall be secured by the Mortgage, the Share Pledge Mortgage and the Receivables Pledge.
4.5.2 In case the Issuer incurs a financial indebtedness in accordance with Clause 8.5, the Issuer may establish a first ranking mortgage in favour of the credit institution or financial institution only with a prior written consent of the Bondholders (which shall not be unreasonably withheld), provided that a second ranking mortgage is maintained for the benefit of the Bondholders. The Bondholders shall not withhold such consent if the financial indebtedness incurred by the Issuer is used to partially refinance the Issuer’s obligations towards the Bondholders.
Appears in 1 contract
Sources: Subscription Agreement