Common use of Hypothecation Clause in Contracts

Hypothecation. The Borrower shall cause the Hypothecator(s) and the Hypothecator(s) shall agree, to the satisfaction of IHFL, to hypothecate, encumber, charge, pledge and/or assign (by way of Security) the Hypothecated Asset(s) exclusively in favour of IHFL. The Borrower shall cause the Hypothecator(s) to promptly submit with IHFL (if so requested by IHFL) all the original documents of the Hypothecated Asset(s) duly endorsing the lien/hypothecation in favour of IHFL. The Borrower shall forthwith deposit or shall cause to be deposited the Receivables directly in an escrow account(s) (and to no other account) as may be stipulated/agreed by IHFL and shall forthwith execute escrow agreement(s) in a form satisfactory to IHFL with respect to deposit of the Receivables into the escrow account(s) and transfer of amounts into IHFL's specified bank account(s) on the Due Date(s). The Receivables shall be utilized/transferred in a manner as approved/instructed by IHFL in writing from time to time. It is hereby clarified that in case of shortfall in the escrow account(s), payment default(s) by the Borrower and/or occurrence of an Event of Default, the Borrower is/shall be under an obligation to pay from any source so as to pay the amount(s) payable in accordance with the Loan Documents to IHFL. The Borrower undertake to forthwith issue irrevocable instructions (in a format acceptable to IHFL) to all the concerned persons for deposit of the Receivables only in the escrow account(s) and obtain confirmations in this regard (and forthwith provide a copy thereof to IHFL) from all such person(s). The Borrower shall not give any instruction(s) to the escrow agent(s) and the escrow agent(s) shall not in any circumstance act on any instruction(s) of the Borrower. The Borrower undertake to, and the Borrower shall cause the other Borrower to, irrevocably appoint IHFL as its attorney by execution of a Power of Attorney for collection of Receivables (in the form and substance satisfactory to IHFL) in favour of IHFL for, inter alia, collection of the Receivables from all the concerned persons. The Borrower further, agree that such power(s) would be power(s) coupled with interest and therefore irrevocable.

Hypothecation. The Borrower shall cause the Hypothecator(s) and the Hypothecator(s) shall agree, to the satisfaction of IHFL, to hypothecate, encumber, charge, pledge and/or assign (by way of Security) the Hypothecated Asset(s) exclusively in favour of IHFL. The Borrower shall cause the Hypothecator(s) to promptly submit with IHFL (if so requested by IHFL) all the original documents of the Hypothecated Asset(s) duly endorsing the lien/hypothecation in favour of IHFL. The Borrower Borrower(s) shall forthwith deposit or shall cause to be deposited the Receivables directly in an escrow account(s) (and to no other account) as may be stipulated/agreed by IHFL and shall forthwith execute escrow agreement(s) in a form satisfactory to IHFL with respect to deposit of the Receivables into the escrow account(s) and transfer of amounts into IHFL's ’s specified bank account(s) on the Due Date(s). The Receivables shall be utilized/transferred in a manner as approved/instructed by IHFL in writing from time to time. It is hereby clarified that in case of shortfall in the escrow account(s), payment default(s) by the Borrower Borrower(s) and/or occurrence of an Event of Default, the Borrower Borrower(s) is/shall be under an obligation to pay from any source so as to pay the amount(s) payable in accordance with the Loan Documents to IHFL. The Borrower Borrower(s) undertake to forthwith issue irrevocable instructions (in a format acceptable to IHFL) to all the concerned persons for deposit of the Receivables only in the escrow account(s) and obtain confirmations in this regard (and forthwith provide a copy thereof to IHFL) from all such person(s). The Borrower Borrower(s) shall not give any instruction(s) to the escrow agent(s) and the escrow agent(s) shall not in any circumstance act on any instruction(s) of the BorrowerBorrower(s). The Borrower borrower undertake to, and the Borrower borrower shall cause the other Borrower Borrower(s) to, irrevocably appoint IHFL as its attorney by execution of a Power of Attorney for collection of Receivables (in the form and substance satisfactory to IHFL) in favour of IHFL for, inter alia, collection of the Receivables from all the concerned persons. The Borrower borrower further, agree that such power(s) would be power(s) coupled with interest and therefore irrevocable.

Hypothecation. The Borrower shall cause the Hypothecator(s) and the Hypothecator(s) shall agree, to the satisfaction of IHFL, to hypothecate, encumber, charge, pledge and/or assign (by way of Security) the Hypothecated Asset(s) exclusively in favour of IHFL. The Borrower shall cause the Hypothecator(s) to promptly submit with IHFL (if so requested by IHFL) all the original documents of the Hypothecated Asset(s) duly endorsing the lien/hypothecation in favour of IHFL. The Borrower Borrower(s) shall forthwith deposit or shall cause to be deposited the Receivables directly in an escrow account(s) (and to no other account) as may be stipulated/agreed by IHFL and shall forthwith execute escrow agreement(s) in a form satisfactory to IHFL with respect to deposit of the Receivables into the escrow account(s) and transfer of amounts into IHFL's ’s specified bank account(s) on the Due Date(s). The Receivables shall be utilized/transferred in a manner as approved/instructed by IHFL in writing from time to time. It is hereby clarified that in case of shortfall in the escrow account(s), payment default(s) by the Borrower Borrower(s) and/or occurrence of an Event of Default, the Borrower Borrower(s) is/shall be under an obligation to pay from any source so as to pay the amount(s) payable in accordance with the Loan Documents to IHFL. The Borrower Borrower(s) undertake to forthwith issue irrevocable instructions (in a format acceptable to IHFL) to all the concerned persons for deposit of the Receivables only in the escrow account(s) and obtain confirmations in this regard (and forthwith provide a copy thereof to IHFL) from all such person(s). The Borrower Borrower(s) shall not give any instruction(s) to the escrow agent(s) and the escrow agent(s) shall not in any circumstance act on any instruction(s) of the BorrowerBorrower(s). The Borrower borrower undertake to, and the Borrower borrower shall cause the other Borrower Borrower(s) to, irrevocably appoint IHFL as its attorney by execution of a Power of Attorney for collection of Receivables (in the form and substance satisfactory to IHFL) in favour of IHFL for, inter alia, collection of the Receivables from all the a l l t h e concerned persons. The Borrower borrower further, agree that such power(s) would be power(s) coupled with interest and therefore irrevocable.

Hypothecation. The Borrower shall cause the Hypothecator(s) and the Hypothecator(s) shall agree, to the satisfaction of IHFL, to hypothecate, encumber, charge, pledge and/or assign (by way of Security) the Hypothecated Asset(s) exclusively in favour of IHFL. The Borrower shall cause the Hypothecator(s) to promptly submit with IHFL (if so requested by IHFL) all the original documents of the Hypothecated Asset(s) duly endorsing the lien/hypothecation in favour of IHFL. The Borrower shall forthwith deposit or shall cause to be deposited the Receivables directly in an escrow account(s) (and to no other account) as may be stipulated/agreed by IHFL and shall forthwith execute escrow agreement(s) in a form satisfactory to IHFL with respect to deposit of the Receivables into the escrow account(s) and transfer of amounts into IHFL's ’s specified bank account(s) on the Due Date(s). The Receivables shall be utilized/transferred in a manner as approved/instructed by IHFL in writing from time to time. It is hereby clarified that in case of shortfall in the escrow account(s), payment default(s) by the Borrower and/or occurrence of an Event of Default, the Borrower is/shall be under an obligation to pay from any source so as to pay the amount(s) payable in accordance with the Loan Documents to IHFL. The Borrower undertake to forthwith issue irrevocable instructions (in a format acceptable to IHFL) to all the concerned persons for deposit of the Receivables only in the escrow account(s) and obtain confirmations in this regard (and forthwith provide a copy thereof to IHFL) from all such person(s). The Borrower shall not give any instruction(s) to the escrow agent(s) and the escrow agent(s) shall not in any circumstance act on any instruction(s) of the Borrower. The Borrower undertake to, and the Borrower shall cause the other Borrower to, irrevocably appoint IHFL as its attorney by execution of a Power of Attorney for collection of Receivables (in the form and substance satisfactory to IHFL) in favour of IHFL for, inter alia, collection of the Receivables from all the concerned persons. The Borrower further, agree that such power(s) would be power(s) coupled with interest and therefore irrevocable.

Hypothecation. The Borrower shall cause the Hypothecator(s) and the Hypothecator(s) shall agree, to the satisfaction of IHFL, to hypothecate, encumber, charge, pledge and/or assign (by way of Security) the Hypothecated Asset(s) exclusively in favour of IHFL. The Borrower shall cause the Hypothecator(s) to promptly submit with IHFL (if so requested by IHFL) all the original documents of the Hypothecated Asset(s) duly endorsing the lien/hypothecation in favour of IHFL. The Borrower shall forthwith deposit or shall cause to be deposited the Receivables directly in an escrow account(s) (and to no other account) as may be stipulated/agreed by IHFL and shall forthwith execute escrow agreement(s) in a form satisfactory to IHFL with respect to deposit of the Receivables into the escrow account(s) and transfer of amounts into IHFL's specified bank account(s) on the Due Date(s). The Receivables shall be utilized/utilized/ transferred in a manner as approved/instructed by IHFL in writing from time to time. It is hereby clarified that in case of shortfall in the escrow account(s), payment default(s) by the Borrower and/or occurrence of an Event of Default, the Borrower is/shall be under an obligation to pay from any source so as to pay the amount(s) payable in accordance with the Loan Documents to IHFL. The Borrower undertake to forthwith issue irrevocable instructions (in a format acceptable to IHFL) to all the concerned persons for deposit of the Receivables only in the escrow account(s) and obtain confirmations in this regard (and forthwith provide a copy thereof to IHFL) from all such person(s). The Borrower shall not give any instruction(s) to the escrow agent(s) and the escrow agent(s) shall not in any circumstance act on any instruction(s) of the Borrower. The Borrower undertake to, and the Borrower shall cause the other Borrower to, irrevocably appoint IHFL as its attorney by execution of a Power of Attorney for collection of Receivables (in the form and substance satisfactory to IHFL) in favour of IHFL for, inter alia, collection of the Receivables from all the concerned persons. The Borrower further, agree that such power(s) would be power(s) coupled with interest and therefore irrevocable.

Hypothecation. The Borrower shall cause the Hypothecator(s) and the Hypothecator(s) shall agree, to the satisfaction of IHFL, to hypothecate, encumber, charge, pledge and/or assign (by way of Security) the Hypothecated Asset(s) exclusively in favour of IHFL. The Borrower shall cause the Hypothecator(s) to promptly submit with IHFL (if so requested by IHFL) all the original documents of the Hypothecated Asset(s) duly endorsing the lien/hypothecation in favour of IHFL. The Borrower Borrower(s) shall forthwith deposit or shall cause to be deposited the Receivables directly in an escrow account(s) (and to no other account) as may be stipulated/agreed by IHFL and shall forthwith execute escrow agreement(s) in a form satisfactory to IHFL with respect to deposit of the Receivables into the escrow account(s) and transfer of amounts into IHFL's specified bank account(s) on the Due Date(s). The Receivables shall be utilized/transferred in a manner as approved/instructed by IHFL in writing from time to time. It is hereby clarified that in case of shortfall in the escrow account(s), payment default(s) by the Borrower Borrower(s) and/or occurrence of an Event of Default, the Borrower Borrower(s) is/shall be under an obligation to pay from any source so as to pay the amount(s) payable in accordance with the Loan Documents to IHFL. The Borrower Borrower(s) undertake to forthwith issue irrevocable instructions (in a format acceptable to IHFL) to all the concerned persons for deposit of the Receivables only in the escrow account(s) and obtain confirmations in this regard (and forthwith provide a copy thereof to IHFL) from all such person(s). The Borrower Borrower(s) shall not give any instruction(s) to the escrow agent(s) and the escrow agent(s) shall not in any circumstance act on any instruction(s) of the BorrowerBorrower(s). The Borrower undertake to, and the Borrower shall cause the other Borrower Borrower(s) to, irrevocably appoint IHFL as its attorney by execution of a Power of Attorney for collection of Receivables (in the form and substance satisfactory to IHFL) in favour of IHFL for, inter alia, collection of the Receivables from all the concerned persons. The Borrower further, agree that such power(s) would be power(s) coupled with interest and therefore irrevocable.