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 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.

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 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 (a) Notwithstanding any other provision of this Agreement to the contrary, Xxxxxxx shall cause have the Hypothecator(s) and the Hypothecator(s) right, subject to Company's written consent, which consent shall agreenot be unreasonably withheld, to execute, acknowledge and deliver an assignment, mortgage, deed of trust or other instrument hypothecating all or any portion of its interest In this Agreement to secure any bona fide loan or loans to Xxxxxxx; provided, however, that any such encumbrance shall be subject and subordinate to all of Company's rights, title and interest in and to the satisfaction Subleased Premises and Company's rights under this Agreement. Any such mortgage or deed of IHFLtrust or assignment shill specifically provide: (i) that in the event of a default by Xxxxxxx thereunder, Company shall have the right at its option (but shall not be required) to hypothecatecure such default; and (ii) that no action shall be taken by the lender to foreclose upon any such mortgage, encumber, charge, pledge and/or assign deed of trust or assignment until at least thirty (30) days after such lender shall have notified Company in writing of any default by way of Security) Xxxxxxx at the Hypothecated Asset(s) exclusively in favour of IHFLaddress specified herein for notices or otherwise designated by Company to said lender. The Borrower rights of any such encumbrancer shall cause the Hypothecator(s) be subject to promptly submit with IHFL (if so requested by IHFL) all the original documents of the Hypothecated Asset(s) duly endorsing terms and provisions of this Agreement (as 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 same 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 amended 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 making of any such encumbrance shall not give relieve Xxxxxxx of any instruction(s) obligation or liability hereunder and shall not render any such encumbrancer liable to perform or satisfy any of the terms or provisions of this Agreement unless such encumbrancer acquires, by foreclosure or otherwise, Xxxxxxx' interest hereunder, in which case it shall be liable for the performance of the terms and provisions hereof to be performed by Xxxxxxx during the term of this Agreement, including, without limitation, the payment of interest as provided herein on any sums that are required to be paid by Xxxxxxx under this Agreement. Any purchaser of Xxxxxxx' interest hereunder upon foreclosure or under power of sale shall succeed to the escrow agent(srights of Xxxxxxx hereunder, including possession of the Subleased Premises, and shall be liable for the performance of the terms and provisions hereof to be performed by Xxxxxxx during the term of this Agreement. Xxxxxxx shall furnish Company at the time of such encumbrance a complete copy of all documents and agreements evidencing such encumbrance or executed in connection therewith. (b) and the escrow agent(s) Company shall not in have any circumstance act on obligation to deliver to Xxxxxxx' encumbrancer any instruction(s) of notices delivered by Company hereunder unless and until Company shall receive a request for such notices from the Borrower. The Borrower undertake to, and encumbrancer together with the Borrower shall cause the other Borrower to, irrevocably appoint IHFL as its attorney by execution of a Power of Attorney encumbrancer's address 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 irrevocablenotices.

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.