Common use of Cross-Liability Clause in Contracts

Cross-Liability. a) The Borrower further agrees that the security created shall also be security for (a) all other monies that may be due and payable by the Borrower to Fincare, on any account whatsoever, whether present or future, including any liability of the Borrower as a surety or co-obligator either singly or along with any other person and /or (b) Loan granted / continued to the group companies/ associate of the Borrower as declared from time to time. b) The Borrower agrees with, and undertakes that Fincare, shall have an exclusive first ranking charge over the Property and any additional security created and that the Borrower shall not create any other encumbrance, charge or security interest in the Property or any additional security so created in favour of any other person or body, except with the prior written consent of Fincare. The said charge over the Property created by the Borrower under this Agreement shall continue and remain in force till such time the Borrower’s Dues under this Agreement and in respect of all other loan/facility obtained /to be obtained by the Borrower from Fincare, and group companies are fully discharged and Fincare / group companies issue a certificate of discharge of the Loan. The security created under this Agreement and the liability of the Borrower shall not be affected, impaired or discharged by winding up (voluntary or otherwise) or by any merger or amalgamation, reconstruction, takeover of the management, dissolution or nationalization (as the case may be) of the Borrower. The Borrower covenants that the security provided by the Borrower shall remain valid for the balance amount of the Loan due to Fincare, or any other financial benefits obtained by the Borrower from any of the group companies.

Cross-Liability. a) The Borrower further agrees that the security Security created shall also be security for (a) all other monies that may be due and payable by the Borrower to FincareRCFL, on any account whatsoever, whether present or future, including any liability of the Borrower as a surety or co-obligator either singly or along with any other person and /or person; (b) Loan granted / loan granted/continued to the group companies/ companies/associate of the Borrower as declared from time to time. b) The Borrower agrees with, and undertakes that FincareRCFL, shall have an exclusive first ranking charge security interest over the Property and any additional security Security created and that the Borrower shall not create/ cause to create any other encumbrance, mortgage, charge or security interest in the Property Security so created or any additional security so created of them in favour of any other person or body, except with the prior written consent of FincareRCFL. The said charge over Security created in favour of the Property created by the Borrower under this Agreement Lender shall continue and remain in force till such time all the Borrower’s 's Dues under this Agreement and the dues in respect of all other loan/facility obtained /to obtained/to be obtained by the Borrower from Fincare, and RCFL and/or its group companies are fully discharged and Fincare / RCFL/group companies issue a certificate of discharge discharge. The Security created in favour of the Loan. The security created under this Agreement Lender and the liability of the Borrower shall not be affected, impaired or discharged by winding up (voluntary or otherwise) or by any merger or amalgamation, reconstruction, takeover of the management, dissolution or nationalization (as the case may be) of the Borrower. The Borrower covenants that the Borrower/ relevant security provided by the Borrower shall remain valid for the balance amount of the Loan due to Fincare, or any other financial benefits obtained by the Borrower from any of the group companiesprovider.

Cross-Liability. a) The Borrower further agrees that the security created shall also be security for (a) all other monies that may be due and payable by the Borrower to FincareRHFL, on any account whatsoever, whether present or future, including any liability of the Borrower as a surety or co-obligator either singly or along with alongwith any other person and /or (b) Loan granted / continued to the group companies/ associate of the Borrower as declared from time to time. b) The Borrower agrees with, and undertakes that FincareRHFL, shall have an exclusive first ranking charge over the Property and any additional security created and that the Borrower shall not create any other encumbrance, charge or security interest in the Property or any additional security so created or any of them in favour of any other person or body, except with the prior written consent of FincareRHFL. The said charge over the Property charge/security created by the Borrower under this Agreement shall continue and remain in force till such time the Borrower’s Dues all other dues under this Agreement and in respect of all other loan/facility obtained /to be obtained by the Borrower from FincareRHFL, and group companies are fully discharged and Fincare RHFL / group companies issue a certificate of discharge of the Loandischarge. The security created under this Agreement and the liability of the Borrower shall not be affected, impaired or discharged by winding up (voluntary or otherwise) or by any merger or amalgamation, reconstruction, takeover of the management, dissolution or nationalization (as the case may be) of the Borrower. The Borrower covenants that the security provided by the Borrower shall remain valid for the balance amount of the Loan due to FincareRHFL, or any other financial benefits obtained by the Borrower from any of the group companies.

Cross-Liability. a) The Borrower further agrees that the security Security and/or the Additional Security created shall also be security Security for (a) all other monies that may be due and payable by the Borrower to Fincarethe Bank, on any account whatsoever, whether present or future, including any liability of the Borrower as a surety or co-obligator either singly or along with alongwith any other person and /or (b) Loan Facility granted / continued to the group companies/ companies / associate of the Borrower as declared from time to time. b) The If the Borrower agrees withis providing the Security, and undertakes that Fincare, shall have an exclusive first ranking charge over the Property and any additional security created and that the Borrower shall not create any other encumbrance, charge or security interest in the Property or any additional security so created Security in favour of any other person or body, except with the prior written consent of Fincarethe Bank. The said charge over the Property / security created by the Borrower under this Agreement shall continue and remain in force till such time the Borrower’s Dues all other dues under this Agreement and in respect of all other loan/loan / facility obtained /to / to be obtained by the Borrower from Fincarethe Bank, and group companies are fully discharged and Fincare / group companies the Bank issue a certificate of discharge of the Loandischarge. The security Security created under this Agreement the Transaction Documents and the liability of the Borrower shall not be affected, impaired or discharged by winding up (voluntary or otherwise) or by any merger or amalgamation, reconstruction, takeover of the management, dissolution or nationalization (as the case may be) of the Borrower. The Borrower covenants that the security provided by the Borrower shall remain valid for the balance amount of the Loan due to Fincarethe Bank, or any other financial benefits obtained by the Borrower from any of the group companiesBank.

Cross-Liability. a) The Borrower further agrees that the security Security created shall also be security for (a) all other monies that may be due and payable by the Borrower to Fincare, the Lender on any account whatsoever, whatsoever whether present or future, future including any liability of the Borrower as a surety or co-obligator either singly by himself or along with other any other person and /or (b) Loan granted / continued to the group companies/ associate of the Borrower as declared from time to timePerson. b) The Borrower agrees with, with and undertakes that Fincare, the Lender shall have an exclusive first ranking charge over the Property and any additional security Security created and that the Borrower shall not create any other encumbrance, charge or security interest Security Interest in the Property or any additional security so created or any of them in favour of any other person Person or body, except with the prior written consent of Fincarethe Lender. The said charge over the Property / Security created by the Borrower under this Agreement shall continue and remain in force till such time the Borrower’s Dues all other dues under this Agreement and in respect of all other loan/facility obtained /to / to be obtained by the Borrower from Fincare, and group companies the Lender are fully discharged paid to the satisfaction of the Lender and Fincare / group companies issue the Lender issues a certificate of discharge of the Loan. discharge. c) The security Security created under this Agreement or any other Transaction Documents and the liability of the Borrower shall not be affected, impaired or discharged by the winding up (voluntary or otherwise) or initiation of any insolvency proceedings under IBC or by any merger or amalgamation, reconstruction, reconstruction takeover of the management, dissolution or nationalization (as the case may be) of the Borrower. The Borrower covenants that the security Security provided by the Borrower shall remain valid till the time for the balance amount of Borrower's Dues have not been repaid in full to the Loan due to Fincare, or any other financial benefits obtained Lender by the Borrower from any of the group companiesBorrower.

Cross-Liability. a) The Borrower further agrees that the security created shall also be security for (a) all other monies that may be due and payable by the Borrower to FincareRCL, on any account whatsoever, whether present or future, including any liability of the Borrower as a surety or co-obligator either singly or along with alongwith any other person and /or (b) Loan granted / continued to the group companies/ associate of the Borrower as declared from time to time. b) The Borrower agrees with, and undertakes that FincareRCL, shall have an exclusive first ranking charge over the Property and any additional security created and that the Borrower shall not create any other encumbrance, charge or security interest in the Property or any additional security so created or any of them in favour of any other person or body, except with the prior written consent of FincareRCL. The said charge over the Property charge/security created by the Borrower under this Agreement shall continue and remain in force till such time the Borrower’s Dues all other dues under this Agreement and in respect of all other loan/facility obtained /to be obtained by the Borrower from FincareRCL, and group companies are fully discharged and Fincare RCL / group companies issue a certificate of discharge of the Loandischarge. The security created under this Agreement and the liability of the Borrower shall not be affected, impaired or discharged by winding up (voluntary or otherwise) or by any merger or amalgamation, reconstruction, takeover of the management, dissolution or nationalization (as the case may be) of the Borrower. The Borrower covenants that the security provided by the Borrower shall remain valid for the balance amount of the Loan due to FincareRCL, or any other financial benefits obtained by the Borrower from any of the group companies.

Cross-Liability. a) The Borrower further agrees that the security created shall also be security for (a) all other monies that may be due and payable by the Borrower to FincareRCFL, on any account whatsoever, whether present or future, including any liability of the Borrower as a surety or co-obligator either singly or along with alongwith any other person and /or (b) Loan granted / continued to the group companies/ associate of the Borrower as declared from time to time. b) The Borrower agrees with, and undertakes that FincareRCFL, shall have an exclusive first ranking charge over the Property and any additional security created and that the Borrower shall not create any other encumbrance, charge or security interest in the Property or any additional security so created or any of them in favour of any other person or body, except with the prior written consent of FincareRCFL. The said charge over the Property charge/security created by the Borrower under this Agreement shall continue and remain in force till such time the Borrower’s Dues all other dues under this Agreement and in respect of all other loan/facility obtained /to be obtained by the Borrower from FincareRCFL, and group companies are fully discharged and Fincare RCFL / group companies issue a certificate of discharge of the Loandischarge. The security created under this Agreement and the liability of the Borrower shall not be affected, impaired or discharged by winding up (voluntary or otherwise) or by any merger or amalgamation, reconstruction, takeover of the management, dissolution or nationalization (as the case may be) of the Borrower. The Borrower covenants that the security provided by the Borrower shall remain valid for the balance amount of the Loan due to FincareRCFL, or any other financial benefits obtained by the Borrower from any of the group companies.

Cross-Liability. a) A. The Borrower further agrees that the security created shall also be security Security for (a) all other monies that may be due and payable by the Borrower to Fincare, the Lender on any account whatsoever, whatsoever whether present or future, future including any liability of the Borrower as a surety or co-obligator either singly by himself or along with alongwith other any other person and /or (b) Loan granted / continued to the group companies/ associate of the Borrower as declared from time to timePerson. b) B. The Borrower agrees with, with and undertakes that Fincare, the Lender shall have an exclusive first ranking charge over the Property and any additional security Security created and that the Borrower shall not create any other encumbrance, charge or security interest Security Interest in the Property or any additional security so created or any of them in favour of any other person Person or body, except with the prior written consent of Fincarethe Lender. The said charge over the Property charge/Security created by the Borrower under this Agreement shall continue and remain in force till such time the Borrower’s Dues all other dues under this Agreement and in respect of all other loan/facility obtained /to obtained/to be obtained by the Borrower from Fincare, and group companies the Lender are fully discharged paid to the satisfaction of the Lender and Fincare / group companies issue the Lender issues a certificate of discharge of the Loan. discharge. C. The security Security created under this Agreement or any other Transaction Documents and the liability of the Borrower shall not be affected, impaired or discharged by the winding up (voluntary or otherwise) or initiation of any insolvency proceedings under IBC or by any merger or amalgamation, reconstruction, reconstruction takeover of the management, dissolution or nationalization (as the case may be) of the Borrower. The Borrower covenants that the security Security provided by the Borrower shall remain valid till the time for the balance amount of Borrower's Dues have not been repaid in full to the Loan due to Fincare, or any other financial benefits obtained Lender by the Borrower from any of the group companiesBorrower.