Common use of Hypothec Clause in Contracts

Hypothec. The Borrower further hypothecates in favour of the Lender as part of the security for the Indebtedness, and for the same amount and on the same terms, the Borrower's voting rights, and moreover, on receipt of a request in writing from the Lender to the Borrower shall send to the Lender every future notice of meetings, any agenda, financial statements or other proceedings to be considered thereat, and the Borrower further agrees upon receipt of such request to name the Lender as the Borrower's proxy, to attend and to vote at such meetings, or in the alternative, at the option of the Lender, to act as the proxy of the Lender at such meetings and to vote its interest as the Borrower and the Lender may agree upon, and to the foregoing ends, the Borrower assigns, insofar as may be necessary, the Borrower’s voting rights to the Lender.