Mortgage and Charge. a. The Promoter may have an arrangement with certain Banks and Financial Institutions (hereinafter collectively referred to ”the said Banks”), under which the said Bank would grant a line of credit to the Promoter to facilitate development of projects undertaken and carried on by it, and as security for repayment of loans which may be advanced to the Promoter by the said Bank, the Promoter creates or causes to be created mortgages/charges on the lands and construction thereon in favour of the said Xxxxx, and the securities created in favour of the said Xxxxx are substituted from time to time. b. The title deeds relating to said Larger Property may have been deposited with the said Banks as security (along with other securities) for repayment of the loans already advanced and which may be advanced hereafter by the said Banks to the Promoter under the said line of credit arrangement. c. The Promoter specifically reserves the right to offer and to create charge on Project (except the said Unit) for obtaining development, construction and other finance from credit/financial institution, bank or other person/body that has already or may hereafter advance credit, finance or loans to the Promoter and Allottee(s) has/have given and granted his/her/ their/its specific and unqualified consent and permission to the Promoter for doing the same. The Allottee(s) whenever asked in support of by the Promoter in this regard, shall give and grant to the Promoter, his/her/their/its specific, full, free and unqualified consent and permission for doing the same, and strict compliance of this condition on the part of the Allottee(s) shall be of the essence of allotment of the said Unit. Failure on the part of the Allotee(s) to implement and comply with this essential condition will be treated as a breach of this Agreement, and the Promoter shall thereupon be entitled to cancel and terminate this Agreement.
Appears in 2 contracts
Samples: Sale Agreement, Apartment Buyer’s Agreement
Mortgage and Charge. a. The Promoter may have an arrangement with certain Banks and Financial Institutions (hereinafter collectively referred to ”the said Banks”), under which the said Bank would grant a line of credit to the Promoter to facilitate development of projects undertaken and carried on by it, and as security for repayment of loans which may be advanced to the Promoter by the said Bank, the Promoter creates or causes to be created mortgages/charges on the lands and construction thereon in favour of the said XxxxxBanks, and the securities created in favour of the said Xxxxx Banks are substituted from time to time.
b. The title deeds relating to said Larger Property may have been deposited with the said Banks as security (along with other securities) for repayment of the loans already advanced and which may be advanced hereafter by the said Banks to the Promoter under the said line of credit arrangement.
c. The Promoter specifically reserves the right to offer and to create charge on Project (except the said Unit) for obtaining development, construction and other finance from credit/financial institution, bank or other person/body that has already or may hereafter advance credit, finance or loans to the Promoter and Allottee(s) has/have given and granted his/her/ their/its specific and unqualified consent and permission to the Promoter for doing the same. The Allottee(s) whenever asked in support of by the Promoter in this regard, shall give and grant to the Promoter, his/her/their/its specific, full, free and unqualified consent and permission for doing the same, and strict compliance of this condition on the part of the Allottee(s) shall be of the essence of allotment of the said Unit. Failure on the part of the Allotee(s) to implement and comply with this essential condition will be treated as a breach of this Agreement, and the Promoter shall thereupon be entitled to cancel and terminate this Agreement.
Appears in 2 contracts
Samples: Sale Agreement, Sale Agreement
Mortgage and Charge. a. The Promoter may have an arrangement with certain Banks and Financial Institutions (hereinafter collectively referred to ”the said Banks”), under which the said Bank would grant a line of credit to the Promoter to facilitate development of projects undertaken and carried on by it, and as security for repayment of loans which may be advanced to the Promoter by the said Bank, the Promoter creates or causes to be created mortgages/charges on the lands and construction thereon in favour of the said XxxxxBanks, and the securities created in favour of the said Xxxxx Banks are substituted from time to time.
b. The title deeds relating to said Larger Property Land may have been deposited with the said Banks as security (along with other securities) for repayment of the loans already advanced and which may be advanced hereafter by the said Banks to the Promoter under the said line of credit arrangement.
c. The Promoter specifically reserves the right to offer and to create charge on Phase II Project (except the said Unit) for obtaining development, construction and other finance from credit/financial institution, bank or other person/body that has already or may hereafter advance credit, finance or loans to the Promoter and Allottee(s) has/have given and granted his/her/ their/its specific and unqualified consent and permission to the Promoter for doing the same. The Allottee(s) whenever asked in support of by the Promoter in this regard, shall give and grant to the Promoter, his/her/their/its specific, full, free and unqualified consent and permission for doing the same, and strict compliance of this condition on the part of the Allottee(s) shall be of the essence of allotment of the said Unit. Failure on the part of the Allotee(sAllottee(s) to implement and comply with this essential condition will be treated as a breach of this Agreement, and the Promoter shall thereupon be entitled to cancel and terminate this Agreement.
Appears in 1 contract
Samples: Apartment Buyer’s Agreement
Mortgage and Charge. a. The Promoter may have an arrangement with certain Banks and Financial Institutions (hereinafter collectively referred to ”the said “Said Banks”), under which the said Bank Said Banks would grant a line of credit to the Promoter to facilitate development of projects undertaken and carried on by it, and as security for repayment of loans which may be advanced to the Promoter by the said BankSaid Banks, the Promoter creates or causes to be created mortgages/charges on the lands and construction thereon in favour of the said XxxxxSaid Banks, and the securities created in favour of the said Xxxxx Said Banks are substituted from time to time.;
b. The title deeds relating to said Larger Property the Project Land may have been be deposited with the said Said Banks as security (along with other securities) for repayment of the loans already advanced advanced, and which may be advanced hereafter by the said Said Banks to the Promoter under the said line of credit arrangement.;
c. The Promoter specifically reserves the right to offer and to create charge on the Project (except the said Unit) for obtaining development, construction and other finance from credit/financial institution, bank or other person/body that has already or may hereafter advance credit, finance or loans to the Promoter and Allottee(s) has/have has given and granted his/her/ their/its his specific and unqualified consent and permission to the Promoter for doing the same. The Allottee(s) whenever asked in support of by the Promoter in this regard, shall give and grant to the Promoter, his/her/their/its his specific, full, free and unqualified consent and permission for doing the same, and strict compliance of this condition on the part of the Allottee(s) shall be of the essence of allotment of the said Unit. Failure on the part of the Allotee(sAllottee(s) to implement and comply with this essential condition will be treated as a breach of this Agreement, and the Promoter shall thereupon be entitled to cancel and terminate this Agreement.;
Appears in 1 contract
Samples: Sale Agreement
Mortgage and Charge. a. The Promoter may have an arrangement with certain Banks For the good and Financial Institutions valuable consideration aforesaid (hereinafter collectively referred to ”receipt of which is hereby acknowledged by the said Banks”), under which the said Bank would grant a line of credit Owner) and pursuant to the Promoter Collateral Guarantee and in order to facilitate development of projects undertaken and carried on by it, and as security for repayment of loans which may be advanced to secure the Promoter by the said Bank, the Promoter creates or causes to be created mortgages/charges on the lands and construction thereon in favour of the said Xxxxx, and the securities created in favour of the said Xxxxx are substituted from time to time.
b. The title deeds relating to said Larger Property may have been deposited with the said Banks as security (along with other securities) for repayment of the loans already advanced Outstanding Indebtedness and which may be advanced hereafter by to secure the said Banks performance and observance of and compliance with the covenants, terms and conditions contained in this Mortgage, the Collateral Guarantee, the Master Swap Agreements and the Loan Agreement, express or implied, the Owner: HEREBY GRANTS to the Promoter under Mortgagees a First Preferred Mortgage on the said line Ship for the amount of credit arrangement.
c. The Promoter specifically reserves Forty six million one hundred and fifty thousand Dollars ($46,150,000) together with the right to offer register such First Preferred Mortgage on the Ship in the mortgage register of the competent Greek Maritime Mortgage Office directly and without any action by or on behalf of the Owner for the enforcement of the payment of the Outstanding Indebtedness and to create charge on Project (except secure the said Unit) for obtaining developmentperformance and observance of and compliance with the covenants, construction terms and other finance from credit/financial institutionconditions contained in this Mortgage, bank the Collateral Guarantee, the Master Swap Agreements and the Loan Agreement, express or other person/body that has already or may hereafter advance credit, finance or loans implied; and HEREBY ASSIGNS and agrees to assign to the Promoter Mortgagees all its rights and Allottee(sbenefits under and deriving from (i) has/have given Greek Legislative Decrees Number 2687/1953 and granted his/her/ their/2928/1954 and (ii) the Ministerial Decision, PROVIDED HOWEVER that the Owner shall remain liable to perform all and any of the obligations to be performed by it under the Ministerial Decision and any laws or regulations applicable thereto and the Mortgagees or any of them shall be under no obligation of any kind whatsoever thereunder or be under any liability whatsoever in event of any failure by the Owner to perform its specific obligations thereunder and unqualified consent and permission PROVIDED ALSO, that the condition of these presents is such that, if the Owner shall pay or cause to be repaid to the Promoter for doing Mortgagees, the same. The Allottee(s) whenever asked Outstanding Indebtedness as and when the same shall become due and payable in support accordance with the terms of the Collateral Guarantee, this Mortgage and the other Security Documents and shall observe and comply with the covenants, terms and conditions contained in the Collateral Guarantee, this Mortgage and the other Security Documents, expressed or implied, to be performed, observed or complied with, by the Promoter in this regard, shall give and grant to the Promoter, his/her/their/its specific, full, free and unqualified consent and permission for doing the same, and strict compliance of this condition on the part of the Allottee(s) shall be of the essence of allotment of the said Unit. Failure on the part of the Allotee(s) to implement and comply with this essential condition will be treated as a breach of this AgreementOwner, then these presents and the Promoter rights hereunder shall thereupon cease, determine and be entitled void, otherwise to cancel be and terminate this Agreementremain in full force and effect.
Appears in 1 contract
Samples: Loan Agreement (Aegean Marine Petroleum Network Inc.)
Mortgage and Charge. a. The Promoter may have an arrangement with certain Banks For the good and Financial Institutions valuable consideration aforesaid (hereinafter collectively referred to ”receipt of which is hereby acknowledged by the said Banks”), under which the said Bank would grant a line of credit Owner) and pursuant to the Promoter Collateral Guarantee and in order to facilitate development of projects undertaken and carried on by it, and as security for repayment of loans which may be advanced to secure the Promoter by the said Bank, the Promoter creates or causes to be created mortgages/charges on the lands and construction thereon in favour of the said Xxxxx, and the securities created in favour of the said Xxxxx are substituted from time to time.
b. The title deeds relating to said Larger Property may have been deposited with the said Banks as security (along with other securities) for repayment of the loans already advanced Outstanding Indebtedness and which may be advanced hereafter by to secure the said Banks performance and observance of and compliance with the covenants, terms and conditions contained in this Mortgage, the Collateral Guarantee, the Master Swap Agreements and the Loan Agreement, express or implied, the Owner: HEREBY GRANTS to the Promoter under Mortgagees a First Preferred Mortgage on the said line Ship for the amount of credit arrangement.
c. The Promoter specifically reserves Thirty four million one hundred and twenty five thousand Dollars ($34,125,000) together with the right to offer register such First Preferred Mortgage on the Ship in the mortgage register of the competent Greek Maritime Mortgage Office directly and without any action by or on behalf of the Owner for the enforcement of the payment of the Outstanding Indebtedness and to create charge on Project (except secure the said Unit) for obtaining developmentperformance and observance of and compliance with the covenants, construction terms and other finance from credit/financial institutionconditions contained in this Mortgage, bank the Collateral Guarantee, the Master Swap Agreements and the Loan Agreement, express or other person/body that has already or may hereafter advance credit, finance or loans implied; and HEREBY ASSIGNS and agrees to assign to the Promoter Mortgagees all its rights and Allottee(sbenefits under and deriving from (i) has/have given Greek Legislative Decrees Number 2687/1953 and granted his/her/ their/2928/1954 and (ii) the Ministerial Decision, PROVIDED HOWEVER that the Owner shall remain liable to perform all and any of the obligations to be performed by it under the Ministerial Decision and any laws or regulations applicable thereto and the Mortgagees or any of them shall be under no obligation of any kind whatsoever thereunder or be under any liability whatsoever in event of any failure by the Owner to perform its specific obligations thereunder and unqualified consent and permission PROVIDED ALSO, that the condition of these presents is such that, if the Owner shall pay or cause to be repaid to the Promoter for doing Mortgagees, the same. The Allottee(s) whenever asked Outstanding Indebtedness as and when the same shall become due and payable in support accordance with the terms of the Collateral Guarantee, this Mortgage and the other Security Documents and shall observe and comply with the covenants, terms and conditions contained in the Collateral Guarantee, this Mortgage and the other Security Documents, expressed or implied, to be performed, observed or complied with, by the Promoter in this regard, shall give and grant to the Promoter, his/her/their/its specific, full, free and unqualified consent and permission for doing the same, and strict compliance of this condition on the part of the Allottee(s) shall be of the essence of allotment of the said Unit. Failure on the part of the Allotee(s) to implement and comply with this essential condition will be treated as a breach of this AgreementOwner, then these presents and the Promoter rights hereunder shall thereupon cease, determine and be entitled void, otherwise to cancel be and terminate this Agreementremain in full force and effect.
Appears in 1 contract
Samples: Third Supplemental Agreement (Aegean Marine Petroleum Network Inc.)