Common use of RESTRICTION AGAINST OTHER CHARGES Clause in Contracts

RESTRICTION AGAINST OTHER CHARGES. The Assignor declares, covenants, warrants and undertakes that there is no mortgage, charge, pledge or lien over the Property having priority to this Assignment and that:- (a) the Assignor will not during the subsistence of this Assignment execute any form of charge, mortgage, debenture, pledge, lien or other security interest or permit to exist any caveat or prohibitory order or both in respect of the Property without the prior consent in writing of the Bank; or (b) this Assignment shall be without prejudice to and shall not operate so as to merge or otherwise affect any lien or security already given by the Assignor and/or the Customer or any other security which may hereafter be given to the Bank by the Assignor and/or the Customer or any other party (whether for securing payment of the Indebtedness or any other moneys covenanted to be paid pursuant to the Security Documents and whether such security is taken as additional or collateral security or otherwise).

RESTRICTION AGAINST OTHER CHARGES. The Assignor declares, covenants, hereby declares covenants warrants and undertakes that there is no debenture, mortgage, charge, pledge pledge, lien or lien other security interest over the Property having priority to this Assignment and that:-and: (a) the Assignor will shall not during the subsistence of this Assignment without the consent in writing of the Bank execute any form of chargedebenture, mortgage, debenturecharge, pledge, lien or other security interest or permit to exist any caveat or prohibitory order or both in respect of the Property without the prior consent in writing of the Bank; orProperty; (b) this Assignment shall be without prejudice to and shall not operate so as to merge or otherwise affect any lien or security already given by the Assignor and/or the Customer or any other party or any other security which may hereafter be given to the Bank by the Assignor and/or the Customer or any other party (to the Bank whether the same be for securing payment of the Indebtedness or any other moneys covenanted to be paid pursuant to the Security Documents herein and whether such security is taken as additional or collateral security or otherwise)otherwise howsoever.

RESTRICTION AGAINST OTHER CHARGES. The Assignor hereby declares, covenants, warrants and undertakes that there is no mortgage, charge, pledge pledge, lien or lien other security interest over the Property having priority ranking in point of security, prior to or pari passu with this Assignment and that:-and:- (ai) the Assignor will shall not during the subsistence of this Assignment without the prior consent in writing of the Bank execute any form of charge, mortgage, debenture, pledge, lien or other security interest lien, assignment or permit to exist any caveat or prohibitory order or both in respect of the Property without the prior consent in writing of the Bank; orProperty; (bii) this Assignment shall be without prejudice to and shall not operate so as to merge or otherwise affect any lien or security already given by the Assignor and/or the Customer or any other security which may hereafter be given to the Bank by the Borrower and/or the Assignor and/or the Customer or any other party (Security Party or to which the Bank is entitled whether the same be for securing payment repayment of the Borrower’s Indebtedness or any other moneys covenanted to be paid pursuant to the Security Documents and whether such security is taken as additional or collateral security or otherwise)otherwise howsoever.

RESTRICTION AGAINST OTHER CHARGES. The Assignor hereby declares, covenants, warrants and undertakes that there is no mortgage, charge, pledge pledge, lien or lien other security interest over the Property having priority ranking in point of security, prior to or pari passu with this Assignment and that:-and:- (ai) the Assignor will shall not during the subsistence of this Assignment without the prior consent in writing of the Bank execute any form of charge, mortgage, debenture, pledge, lien or other security interest lien, assignment or permit to exist any caveat or prohibitory order or both in respect of the Property without the prior consent in writing of the Bank; orProperty; (bii) this Assignment shall be without prejudice to and shall not operate so as to merge or otherwise affect any lien or security already given by the Assignor and/or the Customer or any other security which may hereafter be given to the Bank by the Assignor and/or the Customer or any other party (Security Party or to which the Bank is entitled whether the same be for securing payment repayment of the Indebtedness or any other moneys covenanted to be paid pursuant to the Security Documents and whether such security is taken as additional or collateral security or otherwise)otherwise howsoever.