Common use of Protection and Maintenance of Security Clause in Contracts

Protection and Maintenance of Security. 7.1 The Mortgagee shall without prejudice to its other rights and powers hereunder be entitled (but not bound) at any time and as often as may be necessary to take any such action as it may in its absolute discretion think fit for the purpose of protecting the security created by this Deed and the other Security Documents and each and every expense or liability so incurred by the Mortgagee in or about the protection of the security shall be repayable by the Owner on demand for the charges and expenses (including the fees and expenses of legal advisers and value added tax or any similar tax thereon).