Common use of Existing Security Clause in Contracts

Existing Security. 3.1 The Borrower confirms that the Security Document: (a) ranks as a continuing security for the payment and discharge of the Secured Liabilities; and (b) shall continue in full force and effect in all respects and shall secure all obligations under the Restated Facility Agreement, and the Security Document and this deed shall be read and construed together. 3.2 For the avoidance of doubt, clause 8.2 of the Security Document provides that the Lenders cannot commence enforcement action under the Security Document without the prior written consent of the RFA Lenders. 3.3 The Lenders acknowledge, for the benefit of the Borrower and (notwithstanding clause 7 (Third party rights) hereof) each of the RFA Lenders, that the Liabilities evidenced by the RFA Loan as amended and restated pursuant to an amendment and restatement deed dated on or around the date hereof (the “RFA Amendment and Restatement Deed”) continue to be secured by the debenture dated 24 September 2021 and entered into by the Borrower and the RFA Lenders, and all Secured Liabilities (as defined therein), including as amended pursuant to the RFA Amendment and Restatement Deed, continue to rank in priority to the Secured Liabilities as defined in the Security Document. The Lenders confirm that they have received a copy of the RFA Amendment and Restatement Deed.

Existing Security. 3.1 The Borrower confirms that the Security Document: (a) ranks as a continuing security for the payment and discharge of the Secured Liabilities; and (b) shall continue in full force and effect in all respects and shall secure all obligations under the Restated Facility Agreement, and the Security Document and this deed shall be read and construed together. 3.2 For the avoidance of doubt, clause 8.2 of the Security Document provides that the Lenders cannot commence enforcement action under the Security Document without the prior written consent of the RFA Lenders. 3.3 The Lenders acknowledge, for the benefit of the Borrower and (notwithstanding clause 7 (Third party rights) hereof) each of the RFA Lenders, that the Liabilities evidenced by the RFA Loan as amended and restated pursuant to an amendment and restatement deed dated on or around the date hereof (the “RFA Amendment and Restatement Deed”) continue to be secured by the debenture dated 24 September 2021 and entered into by the Borrower and the RFA Lenders, and all Secured Liabilities (as defined therein), including as amended pursuant to the RFA Amendment and Restatement Deed, continue to rank in priority to the Secured Liabilities as defined in the Security Document. The Lenders confirm that they have received a copy of the RFA Amendment and Restatement Deed.