Redemption of prior mortgages. (a) At any time after this Security has become enforceable, the Collateral Agent may:
(i) redeem any prior Lien against any Security Asset; and/or
(ii) procure the transfer of that Lien to itself; and/or
(iii) settle and pass the accounts of the prior mortgagee, chargee or encumbrancer; any accounts so settled and passed will be, in the absence of manifest error, conclusive and binding on each Chargor.
(b) Each Chargor must pay to the Collateral Agent, promptly following demand, the costs and expenses incurred by the Collateral Agent in connection with any such redemption and/or transfer, including the payment of any principal or interest.
Redemption of prior mortgages. (a) Whilst this Security is enforceable, the Security Agent may:
(i) redeem any prior Security against any Security Asset; and/or
(ii) procure the transfer of that Security to itself; and/or
(iii) settle and pass the accounts of the prior mortgagee, chargee or encumbrancer; any accounts so settled and passed will be, in the absence of manifest error, conclusive and binding on each Chargor.
(b) Each Chargor must pay to the Security Agent, promptly on demand, the costs and expenses incurred by the Security Agent in connection with any such redemption and/or transfer, including the payment of any principal or interest.
Redemption of prior mortgages. The Collateral Agent may at any time after the security hereby constituted has become enforceable redeem any prior Encumbrances against any Security Asset or procure the transfer thereof to itself and may settle and pass the accounts of the prior Encumbrances. Any accounts so settled and passed shall be conclusive and binding on the Owner. All principal moneys, interest, costs, charges and expenses of and incidental to such redemption and transfer shall be immediately due by the Owner to the Collateral Agent without notice or demand being required.
Redemption of prior mortgages. At any time after the security constituted by this Deed has become enforceable, the Security Trustee may:-
(a) redeem any prior Security Interest against any Security Asset; and/or
(b) procure the transfer of that Security Interest to itself; and/or
(c) settle and pass the accounts of the prior mortgagee, chargee or encumbrancer; any accounts so settled and passed shall be conclusive and binding on the Chargor. All principal moneys, interest, costs, charges and expenses of and incidental to any such redemption and/or transfer shall be paid by the Chargor to the Security Trustee on demand.
Redemption of prior mortgages. At any time after this Security has become enforceable, the Collateral Agent may:
Redemption of prior mortgages. (a) At any time after this Security has become enforceable, the Chargee may:
(i) redeem any prior Security Interest against any Security Asset; and/or
(ii) procure the transfer of that Security Interest to itself; and/or
(iii) settle and pass the accounts of the prior mortgagee, chargee or encumbrancer; any accounts so settled and passed will be, in the absence of manifest error, conclusive and binding on the Chargor.
(b) The Chargor must pay to the Chargee, immediately on demand, the costs and expenses incurred by the Chargee in connection with any such redemption and/or transfer, including the payment of any principal or interest.
Redemption of prior mortgages. The Indenture Trustee may at any time after the security hereby constituted has become enforceable redeem any prior Encumbrances against any Security Asset or procure the transfer thereof to itself and may settle and pass the accounts of the prior Encumbrances. Any accounts so settled and passed shall be conclusive and binding on the Owner. All principal moneys, interest, costs, charges and expenses of and incidental to such redemption and transfer shall be immediately due by the Owner to the Indenture Trustee without notice or demand being required.
Redemption of prior mortgages. The Security Agent may, at any time after the security hereby constituted has become enforceable, redeem any prior Encumbrance over or against the Security Assets or any part thereof or procure the transfer thereof to itself and may settle and pass the accounts of the prior mortgagee, chargee or encumbrancer. Any accounts so settled and passed shall be conclusive and binding on each Chargor. All principal moneys, interest, costs, charges and expenses of and incidental to such redemption and transfer shall be paid by the Chargor to the Security Agent on demand.
Redemption of prior mortgages. At any time after the Debenture Security has become enforceable, the Security Agent may:
(a) redeem any prior Security against any Security Asset; and/or
(b) procure the transfer of that Security to itself; and/or
(c) settle and pass the accounts of the holder of any prior Security and any accounts so settled and passed shall be conclusive and binding on each Chargor. All principal, interest, costs, charges and expenses of and incidental to any such redemption and/or transfer shall be paid by the relevant Chargor to the Security Agent on demand.
Redemption of prior mortgages. (a) At any time after this Security has become enforceable in accordance with Clause 11.1 (Event of Default), the UK Security Trustee may:
(i) redeem any prior Security Interest against any Security Asset; and/or
(ii) procure the transfer of that Security Interest to itself; and/or
(iii) settle and pass the accounts of the prior mortgagee, chargee or encumbrancer; any accounts so settled and passed will be, in the absence of manifest error, conclusive and binding on each Chargor.
(b) Each Chargor must pay to the UK Security Trustee the reasonable and documented costs and expenses incurred by the UK Security Trustee in connection with any such redemption and/or transfer, including the payment of any principal or interest.
