Common use of Enforcement of Charge Clause in Contracts

Enforcement of Charge. 34.1 If Council is entitled to call up any Security in respect of a breach of this Agreement by GDC 1, GDC 2, or Landcom, and there is insufficient Security in any other form to meet the costs and expenses which the Council is entitled to recover from the Security, then this clause 34 applies. 34.2 The Landowner is to execute and do all such things as the Council may reasonably require for the purpose of the Council exercising the powers, authorities and discretions conferred by the grant of the Charge. In particular, the Landowner will as requested by the Council: 34.2.1 execute all transfers, conveyances, assignments and assurances of the Charge Land to Council or its nominee, 34.2.2 perform, or cause to be performed, all acts and things necessary or desirable to give effect to the Council's powers, authorities and discretions, and 34.2.3 give all notices, orders and directions which the Council considers to be expedient. 34.3 Council may, at the Council's discretion and without notice: 34.3.1 enter upon and take possession of the Charge Land or any part of it, or 34.3.2 with or without taking such possession, at the Council's discretion, sell, call in or convert into money, the Charge Land: (a) at public auction or by private contract, and (b) for a lump sum or a sum payable by instalments or for a sum on account and a mortgage charge for the balance, or 34.3.3 if exercising rights under clause 34.3.2: (a) upon sale, make any special or other stipulations as to title or evidence or commencement of title or otherwise which the Council may deem proper, (b) buy in or rescind or vary any contract of sale of the Charge Land and resell the same without being responsible for any loss which may be incurred, and (c) compromise and effect compositions and, for any of those purposes, execute and make all such assurances and things as the Council thinks fit. 34.4 Council may, at the Council's discretion, do any of the following things for the purpose of exercising the Council's powers of sale under clause 34.3: 34.4.1 appoint a receiver or manager of the Charge Land; 34.4.2 remove any receiver or manager so appointed; 34.4.3 pay such receiver or manager such remuneration as the Council thinks fit; 34.4.4 repair and keep in repair any improvements, works, machinery, plant and other property on the Charge Land, 34.4.5 insure all or any of the Charge Land or anything on it of an insurable nature against loss or damage by fire and other risks as the Council sees fit, 34.4.6 settle, arrange, compromise and submit to arbitration any accounts, claims, questions or disputes whatsoever which may arise in connection with the Charge Land and execute releases or other discharges, 34.4.7 bring, take, defend, compromise, submit to arbitration or discontinue any actions, suits or proceedings whatsoever and whether civil or criminal in relation to the Charge Land, 34.4.8 execute and do such acts, deeds and things as to the Council may appear necessary or proper for or in relation to any of the above things, 34.4.9 generally do and cause to be done such acts and things which GDC 2 might have done for the protection and the improvement of the Charge Land. 34.5 A receiver and manager appointed by the Council will have all of the powers of taking possession, selling and dealing with the Charge Land as are given to the Council under this Agreement. 34.6 The proceeds derived from the sale of the Charge Land pursuant to clause 34.3 will be applied as follows: 34.6.1 first, in paying all costs and expenses properly incurred or to be incurred in the performance or exercise of any of the powers vested in the Council under this Agreement, including costs incurred in remedying the breach of the Agreement; and 34.6.2 second, in paying the surplus (if any) to GDC 2.

Enforcement of Charge. 34.1 39.1 If Council is entitled to call up any Security in respect of a breach of this Agreement Deed by GDC 1, GDC 2, the Developer or LandcomLandowner, and there is insufficient Security in any other form to meet the costs and expenses which the Council is entitled to recover from the Security, then this clause 34 39 applies. 34.2 39.2 The Landowner is to execute and do all such things as the Council may reasonably require for the purpose of the Council exercising the powers, authorities and discretions conferred by the grant of the Charge. In particular, the Landowner will as requested by the Council: 34.2.1 39.2.1 execute all transfers, conveyances, assignments and assurances of the Charge Land to Council or its nominee, 34.2.2 39.2.2 perform, or cause to be performed, all acts and things necessary or desirable to give effect to the Council's powers, authorities and discretions, and 34.2.3 39.2.3 give all notices, orders and directions which the Council considers to be expedient. 34.3 39.3 Council may, at the Council's discretion and without notice: 34.3.1 39.3.1 enter upon and take possession of the Charge Land or any part of it, or 34.3.2 39.3.2 with or without taking such possession, at the Council's discretion, sell, call in or convert into money, the Charge Land: (a) at public auction or by private contract, and (b) for a lump sum or a sum payable by instalments or for a sum on account and a mortgage charge for the balance, or 34.3.3 39.3.3 if exercising rights under clause 34.3.239.3.2: (a) upon sale, make any special or other stipulations as to title or evidence or commencement of title or otherwise which the Council may deem proper, (b) buy in or rescind or vary any contract of sale of the Charge Land and resell the same without being responsible for any loss which may be incurred, and (c) compromise and effect compositions and, for any of those purposes, execute and make all such assurances and things as the Council thinks fit. 34.4 39.4 Council may, at the Council's discretion, do any of the following things for the purpose of exercising the Council's powers of sale under clause 34.339.3: 34.4.1 39.4.1 appoint a receiver or manager of the Charge Land; 34.4.2 39.4.2 remove any receiver or manager so appointed; 34.4.3 39.4.3 pay such receiver or manager such remuneration as the Council thinks fit; 34.4.4 39.4.4 repair and keep in repair any improvements, works, machinery, plant and other property on the Charge Land, 34.4.5 39.4.5 insure all or any of the Charge Land or anything on it of an insurable nature against loss or damage by fire and other risks as the Council sees fit, 34.4.6 39.4.6 settle, arrange, compromise and submit to arbitration any accounts, claims, questions or disputes whatsoever which may arise in connection with the Charge Land and execute releases or other discharges, 34.4.7 39.4.7 bring, take, defend, compromise, submit to arbitration or discontinue any actions, suits or proceedings whatsoever and whether civil or criminal in relation to the Charge Land, 34.4.8 39.4.8 execute and do such acts, deeds and things as to the Council may appear necessary or proper for or in relation to any of the above things, 34.4.9 39.4.9 generally do and cause to be done such acts and things which GDC 2 the Developer or Landowner might have done for the protection and the improvement of the Charge Land. 34.5 39.5 A receiver and manager appointed by the Council will have all of the powers of taking possession, selling and dealing with the Charge Land as are given to the Council under this AgreementDeed. 34.6 39.6 The proceeds derived from the sale of the Charge Land pursuant to clause 34.3 clause 39.3 will be applied as follows: 34.6.1 39.6.1 first, in paying all costs and expenses properly incurred or to be incurred in the performance or exercise of any of the powers vested in the Council under this AgreementDeed, including costs incurred in remedying the breach of the AgreementDeed; and 34.6.2 39.6.2 second, in paying the surplus (if any) to GDC 2the Landowner.