Common use of Protection of Security Clause in Contracts

Protection of Security. The Sixth Issuer further covenants with and undertakes to the Sixth Issuer Security Trustee from time to time (and, for the purposes mentioned in PARAGRAPH (A) below, notwithstanding that the Sixth Issuer Security Trustee may not have served a Sixth Issuer Note Enforcement Notice) upon demand to execute, at the Sixth Issuer's own cost any document or do any act or thing (other than any amendment hereto ___) which the Sixth Issuer Security Trustee may specify: (a) with a view to registering or perfecting any charge or other security created or intended to be created by or pursuant to this Deed (including the perfecting of the conversion of any floating charge to a fixed charge pursuant to CLAUSE 15.1 (Notice) or 15.2 (Automatic Crystallisation)); or (b) with a view to facilitating the exercise or the proposed exercise of any of their powers or the realisation of any of the Sixth Issuer Charged Property; or (c) with a view to protecting the encumbrances created by or pursuant to this Deed, provided that the Sixth Issuer shall not be obliged to execute any further documentation or take any other action or steps to the extent that it would breach a restriction in any such agreement to which it is party relating to assignment, transferring, charging or sharing of possession/rights of such benefit.

Appears in 1 contract

Samples: Sixth Issuer Deed of Charge (Holmes Financing No 6 PLC)

AutoNDA by SimpleDocs

Protection of Security. The Sixth Issuer further covenants with and undertakes to the Sixth Issuer Security Trustee from time to time (and, for the purposes mentioned in PARAGRAPH paragraph (Aa) below, notwithstanding that the Sixth Issuer Security Trustee may not have served a Sixth Issuer Note Enforcement NoticeAcceleration Notice may not have been served) upon demand to execute, at the Sixth Issuer's own cost cost, any document or do any act or thing (other than any amendment hereto ___hereto) which the Sixth Issuer Security Trustee may specify: (a) with a view to registering or perfecting any charge or other security created or intended to be created by or pursuant to this Deed (including the perfecting of the conversion of any floating charge to a fixed charge pursuant to CLAUSE 15.1 14.1 (Notice) or 15.2 14.2 (Automatic Crystallisation)) subject to having first obtained all necessary consents (if any); or (b) with a view to facilitating the exercise or the proposed exercise of any of their powers or the realisation of any of the Sixth Issuer Charged Property; or (c) with a view to protecting the encumbrances created by or pursuant to this Deed, provided that the Sixth Issuer shall not be obliged to execute any further documentation or take any other action or steps to the extent that it would breach a restriction in any such agreement to which it is party relating to assignment, transferring, charging or sharing of possession/rights of such benefit.

Appears in 1 contract

Samples: Deed of Charge (Permanent Mortgages Trustee LTD)

Protection of Security. The Sixth Seventh Issuer further covenants with and undertakes to the Sixth Seventh Issuer Security Trustee from time to time (and, for the purposes mentioned in PARAGRAPH paragraph (Aa) below, notwithstanding that the Sixth Seventh Issuer Security Trustee may not have served a Sixth Seventh Issuer Note Enforcement Notice) upon demand to execute, at the Sixth Seventh Issuer's own cost any document or do any act or thing (other than any amendment hereto ___hereto) which the Sixth Seventh Issuer Security Trustee may specify: (a) with a view to registering or perfecting any charge or other security created or intended to be created by or pursuant to this Deed (including the perfecting of the conversion of any floating charge to a fixed charge pursuant to CLAUSE Clause 15.1 (Notice) or 15.2 (Automatic Crystallisation)); or (b) with a view to facilitating the exercise or the proposed exercise of any of their powers or the realisation of any of the Sixth Seventh Issuer Charged Property; or (c) with a view to protecting the encumbrances created by or pursuant to this Deed, provided that the Sixth Seventh Issuer shall not be obliged to execute any further documentation or take any other action or steps to the extent that it would breach a restriction in any such agreement to which it is party relating to assignment, transferring, charging or sharing of possession/rights of such benefit.

Appears in 1 contract

Samples: Deed of Charge (Holmes Financing No 7 PLC)

Protection of Security. The Sixth Second Issuer further covenants with and undertakes to the Sixth Issuer Security Trustee from time to time (and, for the purposes mentioned in PARAGRAPH paragraph (Aa) below, notwithstanding that the Sixth a Second Issuer Security Trustee Note Acceleration Notice may not have served a Sixth Issuer Note Enforcement Noticebeen served) upon demand to execute, at the Sixth Second Issuer's own cost cost, any document or do any act or thing (other than any amendment hereto ___hereto) which the Sixth Issuer Security Trustee may specify: (a) with a view to registering or perfecting any charge or other security created or intended to be created by or pursuant to this Deed (including the perfecting of the conversion of any floating charge to a fixed charge pursuant to CLAUSE 15.1 Clause 14.1 (Notice) or 15.2 14.2 (Automatic Crystallisation)) subject to having first obtained all necessary consents (if any); or (b) with a view to facilitating the exercise or the proposed exercise of any of their powers or the realisation of any of the Sixth Second Issuer Charged Property; or (c) with a view to protecting the encumbrances created by or pursuant to this Deed, provided that the Sixth Second Issuer shall not be obliged to execute any further documentation or take any other action or steps to the extent that it would breach a restriction in any such agreement to which it is party relating to assignment, transferring, charging or sharing of possession/rights of such benefit.

Appears in 1 contract

Samples: Second Issuer Deed of Charge (Permanent Mortgages Trustee LTD)

Protection of Security. The Sixth Ninth Issuer further covenants with and undertakes to the Sixth Ninth Issuer Security Trustee from time to time (and, for the purposes mentioned in PARAGRAPH paragraph (Aa) below, notwithstanding that the Sixth Ninth Issuer Security Trustee may not have served a Sixth Ninth Issuer Note Enforcement Notice) upon demand to execute, at the Sixth Ninth Issuer's own cost any document or do any act or thing (other than any amendment hereto ___hereto) which the Sixth Ninth Issuer Security Trustee may specify: (a) with a view to registering or perfecting any charge or other security created or intended to be created by or pursuant to this Deed (including the perfecting of the conversion of any floating charge to a fixed charge pursuant to CLAUSE Clause 15.1 (Notice) or 15.2 (Automatic Crystallisation)); or (b) with a view to facilitating the exercise or the proposed exercise of any of their powers or the realisation of any of the Sixth Ninth Issuer Charged Property; or (c) with a view to protecting the encumbrances created by or pursuant to this Deed, provided that the Sixth Ninth Issuer shall not be obliged to execute any further documentation or take any other action or steps to the extent that it would breach a restriction in any such agreement to which it is party relating to assignment, transferring, charging or sharing of possession/rights of such benefit.

Appears in 1 contract

Samples: Deed of Charge (HOLMES FINANCING (No. 9) PLC)

AutoNDA by SimpleDocs

Protection of Security. The Sixth Fourth Issuer further covenants with and undertakes to the Sixth Issuer Security Trustee from time to time (and, for the purposes mentioned in PARAGRAPH (A) paragraph below, notwithstanding that the Sixth a Fourth Issuer Security Trustee Note Acceleration Notice may not have served a Sixth Issuer Note Enforcement Noticebeen served) upon demand to execute, at the Sixth Fourth Issuer's own cost cost, any document or do any act or thing (other than any amendment hereto ___hereto) which the Sixth Issuer Security Trustee may specify: (a) with a view to registering or perfecting any charge or other security created or intended to be created by or pursuant to this Deed (including the perfecting of the conversion of any floating charge to a fixed charge pursuant to CLAUSE 15.1 14.1 (Notice) or 15.2 14.2 (Automatic Crystallisation)) subject to having first obtained all necessary consents (if any); or (b) with a view to facilitating the exercise or the proposed exercise of any of their powers or the realisation of any of the Sixth Fourth Issuer Charged Property; or (c) with a view to protecting the encumbrances created by or pursuant to this Deed, provided that the Sixth Fourth Issuer shall not be obliged to execute any further documentation or take any other action or steps to the extent that it would breach a restriction in any such agreement to which it is party relating to assignment, transferring, charging or sharing of possession/rights of such benefit.

Appears in 1 contract

Samples: Deed of Charge (Permanent Mortgages Trustee LTD)

Protection of Security. The Sixth Fifth Issuer further covenants with and undertakes to the Sixth Issuer Security Trustee from time to time (and, for the purposes mentioned in PARAGRAPH paragraph (Aa) below, notwithstanding that the Sixth a Fifth Issuer Security Trustee Note Acceleration Notice may not have served a Sixth Issuer Note Enforcement Noticebeen served) upon demand to execute, at the Sixth Fifth Issuer's own cost cost, any document or do any act or thing (other than any amendment hereto ___hereto) which the Sixth Issuer Security Trustee may specify: (a) with a view to registering or perfecting any charge or other security created or intended to be created by or pursuant to this Deed (including the perfecting of the conversion of any floating charge to a fixed charge pursuant to CLAUSE 15.1 14.1 (Notice) or 15.2 14.2 (Automatic Crystallisation)) subject to having first obtained all necessary consents (if any); or (b) with a view to facilitating the exercise or the proposed exercise of any of their powers or the realisation of any of the Sixth Fifth Issuer Charged Property; or (c) with a view to protecting the encumbrances created by or pursuant to this Deed, provided that the Sixth Fifth Issuer shall not be obliged to execute any further documentation or take any other action or steps to the extent that it would breach a restriction in any such agreement to which it is party relating to assignment, transferring, charging or sharing of possession/rights of such benefit.

Appears in 1 contract

Samples: Fifth Issuer Deed of Charge (Permanent Financing (No. 5) PLC)

Protection of Security. The Sixth Seventh Issuer further covenants with and undertakes to the Sixth Issuer Security Trustee from time to time (and, for the purposes mentioned in PARAGRAPH paragraph (Aa) below, notwithstanding that the Sixth a Seventh Issuer Security Trustee Note Acceleration Notice may not have served a Sixth Issuer Note Enforcement Noticebeen served) upon demand to execute, at the Sixth Seventh Issuer's own cost cost, any document or do any act or thing (other than any amendment hereto ___hereto) which the Sixth Issuer Security Trustee may specify: (a) with a view to registering or perfecting any charge or other security created or intended to be created by or pursuant to this Deed (including the perfecting of the conversion of any floating charge to a fixed charge pursuant to CLAUSE 15.1 14.1 (Notice) or 15.2 14.2 (Automatic Crystallisation)) subject to having first obtained all necessary consents (if any); or (b) with a view to facilitating the exercise or the proposed exercise of any of their powers or the realisation of any of the Sixth Seventh Issuer Charged Property; or (c) with a view to protecting the encumbrances created by or pursuant to this Deed, provided that the Sixth Seventh Issuer shall not be obliged to execute any further documentation or take any other action or steps to the extent that it would breach a restriction in any such agreement to which it is party relating to assignment, transferring, charging or sharing of possession/rights of such benefit.

Appears in 1 contract

Samples: Seventh Issuer Deed of Charge (Permanent Mortgages Trustee LTD)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!