Licensed Business. A company who holds a relevant operating license and who operates in a similar business environment as The Company.
Licensed Business. The Chargor shall:
(i) continue the licensed business (if any) carried on from the Mortgaged Property in a proper and businesslike manner;
(ii) not suffer to be done anything whereby any material licenses held in connection with the said business may be forfeited or revoked;
(iii) as and when the said material licences shall become renewable, apply for renewal thereof, and use its reasonable endeavours to have the same renewed; and
(iv) in the event of the Security Trustee entering into possession of, or selling the Mortgaged Property, or any part thereof, by virtue of the powers herein contained or in any other Security Document, assist the Security Trustee or its nominees, or the purchaser in applying for a protection order, transfer or renewal of the said licences in respect of the Mortgaged Property or appropriate part thereof.
