Common use of GOVERNMENT ACQUISITION Clause in Contracts

GOVERNMENT ACQUISITION. (a) If – (i) all or any part of the Property at any time becomes the subject matter of, or is included in any notice, notification, or declaration concerning or relating to an acquisition by the government or any governmental authority, or any enquiry or proceedings in respect of the same; or (ii) any government or governmental authority condemns, nationalises, seizes, or otherwise expropriates all or any part of the Land or assumes custody or control of all or part of the Property, the Assignor must immediately inform the Bank, and send the Bank copies of any such notice, notification, or declaration as soon as it is delivered to or served on the Assignor. (b) The Bank can, at the Borrower‟s and/or the Assignor‟s expense, engage such advisors and agents (including solicitors and valuers) as it thinks fit to appear at, attend, or advise on any enquiry or proceedings relating to any acquisition, expropriation, or any of the matters in paragraph (a) above. (c) All monies received as or by way of compensation in respect of any of the matters in paragraph (a) above will be applied in or towards the discharge or payment of any monies or liability secured by this Assignment, and the Assignor will and hereby declares that it will hold all such monies so received in trust for the Bank, and the Assignor agrees and confirms that the Bank may receive and give a good discharge for all such monies. (d) If all such monies are less than the amount due to the Bank under this Assignment, including interest and all monies and other charges due and payable by the Borrower and/or the Assignor to the Bank under this Assignment, the Assignor will immediately pay the Bank the difference between the amount due and the amount received, and until such payment will pay interest on such balance at the rate in Section 5.6(b) with monthly or other periodic rests in accordance with the type of Banking Facility applicable, as well after as before any demand or judgment and regardless of whether or not the banker-customer relationship between the Bank and the Borrower has ceased or been terminated.

GOVERNMENT ACQUISITION. (a) If –:- (i) all or any part of the Property at any time becomes the subject matter of, or is included in any notice, notification, or declaration concerning or relating to an acquisition by the government or any governmental authority, or any enquiry or proceedings in respect of the same; or (ii) any government or governmental authority condemns, nationalises, seizes, or otherwise expropriates all or any part of the Land or assumes custody or control of all or part of the Property, the Assignor must immediately inform the Bank, and send the Bank copies of any such notice, notification, or declaration as soon as it is delivered to or served on the Assignor. (b) The Bank can, at the Borrower‟s Borrower’s and/or the Assignor‟s Assignor’s expense, engage such advisors and agents (including solicitors and valuers) as it thinks fit to appear at, attend, or advise on any enquiry or proceedings relating to any acquisition, expropriation, or any of the matters in paragraph (a) above. (c) All monies received as or by way of compensation in respect of any of the matters in paragraph (a) above will be applied in or towards the discharge or payment of any monies or liability secured by this Assignment, and the Assignor will and hereby declares that it will hold all such monies so received in trust for the Bank, and the Assignor agrees and confirms that the Bank may receive and give a good discharge for all such monies. (d) If all such monies are less than the amount due to the Bank under this Assignment, including interest and all monies and other charges due and payable by the Borrower and/or the Assignor to the Bank under this Assignment, the Assignor will immediately pay the Bank the difference between the amount due and the amount received, and until such payment will pay interest on such balance at the rate in Section Clause 5.6(b) with monthly or other periodic rests in accordance with the type of Banking Facility applicable, as well after as before any demand or judgment and regardless of whether or not the banker-customer relationship between the Bank and the Borrower has ceased or been terminated.

GOVERNMENT ACQUISITION. (a) If –If: (i) all or any part of the Property Land at any time becomes the subject matter of, or is included in any notice, notification, or declaration concerning or relating to an acquisition by the government or any governmental authority, or any enquiry or proceedings in respect of the same; or (ii) any government or governmental authority condemns, nationalises, seizes, or otherwise expropriates all or any part of the Land or assumes custody or control of all or part of the PropertyLand, the Assignor Chargor must immediately inform the BankChargee, and send the Bank Chargee copies of any such notice, notification, or declaration as soon as it is delivered to or served on the AssignorChargor. (b) The Bank Chargee can, at the Borrower‟s Customer’s and/or the Assignor‟s Chargor’s expense, engage such advisors and agents (including solicitors and valuers) as it thinks fit to appear at, attend, or advise on any enquiry or proceedings relating to any acquisition, expropriation, or any of the matters in paragraph (a) above. (c) All monies received as or by way of compensation in respect of any of the matters in paragraph (a) above will be applied in or towards the discharge or payment of any monies or liability secured by this AssignmentCharge, and the Assignor Chargor will and hereby declares that it will hold all such monies so received in trust for the BankChargee, and the Assignor Chargor agrees and confirms that the Bank Chargee may receive and give a good discharge for all such monies. (d) If all such monies are less than the amount due to the Bank Chargee under this AssignmentCharge, including interest profit and all monies and other charges due and payable by the Borrower Customer and/or the Assignor Chargor to the Bank Chargee under this AssignmentCharge, the Assignor Chargor will immediately pay the Bank Chargee the difference between the amount due and the amount received, and until such payment will pay interest on such balance at the rate in Section 5.6(bcompensation (ta’widh) with monthly or other periodic rests in accordance with the type of Banking Facility applicable, (both after as well after as before any demand or judgment judgment) and regardless of whether or not the banker-customer relationship between the Bank Chargee and the Borrower Customer has ceased or been terminated.

GOVERNMENT ACQUISITION. (a) If – (i) If: all or any part of the Property at any time becomes the subject matter of, or is included in any notice, notification, or declaration concerning or relating to an acquisition by the government or any governmental authority, or any enquiry or proceedings in respect of the same; or (ii) or any government or governmental authority condemns, nationalises, seizes, or otherwise expropriates all or any part of the Land or assumes custody or control of all or part of the Property, the Assignor must immediately inform the Bank, and send the Bank copies of any such notice, notification, or declaration as soon as it is delivered to or served on the Assignor. (b) . The Bank can, at the Borrower‟s Customer’s and/or the Assignor‟s Assignor’s expense, engage such advisors and agents (including solicitors and valuers) as it thinks fit to appear at, attend, or advise on any enquiry or proceedings relating to any acquisition, expropriation, or any of the matters in paragraph (a) above. (c) . All monies received as or by way of compensation in respect of any of the matters in paragraph (a) above will be applied in or towards the discharge or payment of any monies or liability secured by this Assignment, and the Assignor will and hereby declares that it will hold all such monies so received in trust for the Bank, and the Assignor agrees and confirms that the Bank may receive and give a good discharge for all such monies. (d) . If all such monies are less than the amount due to the Bank under this Assignment, including interest profit and all monies and other charges due and payable by the Borrower Customer and/or the Assignor to the Bank under this Assignment, the Assignor will immediately pay the Bank the difference between the amount due and the amount received, and until such payment will pay interest the compensation (ta’widh) on such balance at the rate in Section 5.6(b) with monthly or other periodic rests in accordance with the type of Banking Facility applicable, (both after as well after as before any demand or judgment judgment), and regardless of whether or not the banker-customer relationship between the Bank and the Borrower Customer has ceased or been terminated.

GOVERNMENT ACQUISITION. (a) If – (i) all In the event that the Said Property or any part of the Property thereof shall at any time becomes become the subject matter of, of or is be included in any notice, notification, notification or declaration concerning or relating to an acquisition by the government or any governmental authority, government authority or any enquiry or proceedings in respect thereof, the Borrower(s) and/or the Assignor(s) shall forthwith inform the Lender of the same; or (ii) any government same and shall forward to the Lender a copy or governmental authority condemns, nationalises, seizes, or otherwise expropriates all or any part of the Land or assumes custody or control of all or part of the Property, the Assignor must immediately inform the Bank, and send the Bank copies of any such notice, notification, notification or declaration as soon as it is the same shall be delivered to or served on the Assignor. (b) The Bank canAssignor(s). In addition and without prejudice to Section 12.01(m), the Lender shall be entitled at the Borrower‟s expense of the Borrower(s) and/or the Assignor‟s expense, Assignor(s) to engage such advisors advisers and agents (including solicitors and valuers) as it thinks may think fit to appear at, attend, for the purpose of appearing or advise on attending at or advising upon any enquiry or proceedings affecting, concerning or relating to any such acquisition, expropriation, or any of the matters in paragraph (a) above. (c) . All monies received as or by way of compensation in respect of for any such acquisition of the matters in paragraph (a) above will Said Property or any part thereof shall be applied in or towards the discharge or payment repayment of any monies money or liability secured by this Assignment, Agreement and the Assignor will Borrower(s) shall and hereby declares declare(s) that it will the Borrower(s) shall cause the Assignor(s) to hold all such monies if paid to and so received by the Assignor(s) in trust for the Bank, Lender and the Assignor agrees Borrower(s) and/or the Assignor(s) agree(s) and confirms confirm(s) that the Bank Lender may receive and give a good discharge for all such monies. (d) If . In the event of all such monies are aforesaid being less than the amount due to the Bank under this Assignment, Lender hereunder including interest and all monies and other charges due and payable by the Borrower and/or the Assignor Borrower(s) to the Bank under this AssignmentLender hereunder, the Assignor will immediately Borrower(s) shall forthwith pay to the Bank Lender the difference between the amount due and the amount received, so received and until such payment will also pay interest on such balance difference at the applicable Default Rate or such other rate as the Lender may impose from time to time at its absolute discretion calculated in Section 5.6(b) with monthly the manner then applicable to the monies hereby or other periodic rests in accordance with the type of Banking Facility applicable, as well after as before any demand or judgment and regardless of whether or not the banker-customer relationship between the Bank and the Borrower has ceased or been terminatedintended to be hereby secured.

GOVERNMENT ACQUISITION. (a) If –If: (i) all or any part of the Property Land at any time becomes the subject matter of, or is included in any notice, notification, or declaration concerning or relating to an acquisition by the government or any governmental authority, or any enquiry or proceedings in respect of the same; or (ii) any government or governmental authority condemns, nationalises, seizes, or otherwise expropriates all or any part of the Land or assumes custody or control of all or part of the PropertyLand, the Assignor Chargor must immediately inform the BankChargee, and send the Bank Chargee copies of any such notice, notification, or declaration as soon as it is delivered to or served on the AssignorChargor. (b) The Bank Chargee can, at the Borrower‟s Customer’s and/or the Assignor‟s Xxxxxxx’s expense, engage such advisors and agents (including solicitors and valuers) as it thinks fit to appear at, attend, or advise on any enquiry or proceedings relating to any acquisition, expropriation, or any of the matters in paragraph Clause 6 (a) above. (c) All monies received as or by way of compensation in respect of any of the matters in paragraph Clause 6 (a) above will be applied in or towards the discharge or payment of any monies or liability secured by this AssignmentCharge, and the Assignor Chargor will and hereby declares that it will hold all such monies so received in trust for the BankChargee, and the Assignor Chargor agrees and confirms that the Bank Chargee may receive and give a good discharge for all such monies. (d) If all such monies are less than the amount due to the Bank Chargee under this AssignmentCharge, including interest profit and all monies and other charges due and payable by the Borrower Customer and/or the Assignor Chargor to the Bank Chargee under this AssignmentCharge, the Assignor Chargor will immediately pay the Bank Chargee the difference between the amount due and the amount received, and until such payment will pay interest on such balance at the rate in Section 5.6(bcompensation (Ta’widh) with monthly or other periodic rests in accordance with the type of Banking Facility applicable, (both after as well after as before any demand or judgment judgment) and regardless of whether or not the banker-customer relationship between the Bank Chargee and the Borrower Customer has ceased or been terminated.