Common use of Effect of Mortgage Clause in Contracts

Effect of Mortgage. 85.1 Where the Security Owner is the Borrower: (a) it must duly and punctually pay the Total Amount Owing; and (b) if an Event of Default occurs or the Margin Loan Facility becomes subject to Gearing Adjustment, the Lender may demand that the Security Owner pay all or any of the Total Amount Owing at any time the Lender requests it. 85.2 Where the Security Owner is a Guarantor: (a) it must duly and punctually pay the Guaranteed Money and it must duly and punctually pay all money payable by the Guarantor under the Agreement as principal obligor; and (b) if an Event of Default occurs or the Margin Loan Facility becomes subject to Gearing Adjustment, the Lender may demand that the Security Owner pay all or any of the Guaranteed Money and any or all money which is payable by the Guarantor under the Agreement as principal obligor at any time the Lender requests. 85.3 While the Mortgage is in effect, the Security Owner must give the Lender or the Nominee possession of all documents of title to interests in (or that evidence) the Secured Portfolio.

Appears in 6 contracts

Samples: Margin Loan Revised Terms and Conditions, Margin Loan Revised Terms and Conditions, Margin Loan Revised Terms and Conditions

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