Common use of Rights of the Trustee Clause in Contracts

Rights of the Trustee. Whatever hypothecary rights the Trustee elects to exercise or whatever rights or recourses the Trustee elects to exercise either pursuant to the law of any other jurisdiction or in equity, the following provisions, to the greatest extent permitted by applicable law, shall apply: 14.3.1 the Trustee may, in its discretion, at the Grantor's expense: 14.3.1.1 pursue the transformation of the Charged property or any work in process or unfinished goods comprised in the Charged property and complete the manufacture or processing thereof or proceed with any operations to which such property is submitted by the Grantor in the ordinary course of its business and acquire property for such purposes; 14.3.1.2 alienate or dispose of any Charged property which may be obsolete, may perish or is likely to depreciate rapidly; 14.3.1.3 use for its benefit all information obtained while exercising its rights; 14.3.1.4 perform any of the Grantor's obligations or covenants hereunder; 14.3.1.5 exercise any right attached to the Charged property on such conditions and in such manner as it may determine, acting reasonably, including without restriction the grant of licences whether general or special on an exclusive or non exclusive basis, of any intellectual property charged hereunder; 14.3.1.6 for the exercise of any of its rights, utilize without charge the Grantor's plant, equipment, machinery, process, information, records, computer programs and intellectual property; for the purposes hereof the Grantor shall, at the request of the Trustee, concurrently with or after the execution of these presents execute a power of attorney with respect to intellectual property (in conformity with paragraph 15.9 hereof) in favour of the Trustee; 14.3.1.7 borrow monies or lend monies and, in such cases, the monies borrowed or lent by the Trustee shall bear interest at the rate then obtained or charged by the Trustee for such borrowing or loan; these monies shall be reimbursed by the Grantor on demand and, until they have been repaid in full, such monies and interest thereon shall be secured by the present Hypothec and be paid in priority of any other sums secured hereunder; 14.3.1.8 maintain or repair, restore or renovate, begin or complete any construction work on or related to the Charged property; 14.3.2 the Trustee shall exercise its rights in good faith in order to attempt to reduce the Secured Obligations, in a reasonable manner, taking into account all circumstances; 14.3.3 the Trustee may, directly or indirectly, purchase or otherwise acquire the Charged property; 14.3.4 the Trustee, when exercising its rights, may waive any right of the Grantor, with or without consideration therefor; 14.3.5 the Trustee shall have no obligation to make an inventory of the Charged property, to take out any kind of insurance with respect thereof or to grant any security whatsoever; 14.3.6 the Trustee shall not be bound to continue to carry on the Grantor's enterprise or to make any productive use of the Charged property or to maintain such property in operating condition; 14.3.7 the Grantor shall, upon request of the Trustee, move the Charged property and render it available to the Trustee unto premises designated by the Trustee and which, in its opinion, shall be more suitable in the circumstances.

Rights of the Trustee. Whatever hypothecary rights the Trustee elects to exercise or whatever rights or recourses the Trustee elects to exercise either pursuant to the law of any other jurisdiction or in equity, the following provisions, to the greatest extent permitted by applicable law, provisions shall apply: 14.3.1 12.2.1 the Trustee may, in its discretion, at the Grantor's ’s expense: 14.3.1.1 12.2.1.1 pursue the transformation of the Charged property Property or any work in process progress or unfinished goods comprised in the Charged property Property and complete the manufacture or processing thereof or proceed with any operations to which such property is submitted by the Grantor in the ordinary course of its business and acquire property for such purposes; 14.3.1.2 12.2.1.2 alienate or dispose of any Charged property Property which may be obsolete, may perish or is likely to depreciate rapidly; 14.3.1.3 12.2.1.3 use for its benefit all information obtained while exercising its rights; 14.3.1.4 12.2.1.4 perform any of the Grantor's ’s obligations or covenants hereunder; 14.3.1.5 12.2.1.5 exercise any right attached to the Charged property Property on such conditions and in such manner as it may determine, acting reasonably, including without restriction the grant of licences whether general or special on an exclusive or non exclusive basis, of any intellectual property charged hereunder; 14.3.1.6 12.2.1.6 for the exercise of any of its rights, utilize without charge the Grantor's ’s plant, equipment, machinery, process, information, records, computer programs and intellectual property; for the purposes hereof the Grantor shall, at the request of the Trustee, concurrently with or after the execution of these presents execute a power of attorney with respect to intellectual property (in conformity with paragraph 15.9 hereof) in favour of the Trustee; 14.3.1.7 12.2.1.7 borrow monies or lend monies and, in such cases, cases the monies borrowed or lent by the Trustee shall bear interest at the rate then obtained or charged by the Trustee for such borrowing in the case of monies borrowed or loandetermined reasonably by the Trustee in the case of monies lent by it; these monies shall be reimbursed by the Grantor on demand and, until they have been repaid in full, such monies and interest thereon shall be secured by the present Hypothec and be paid in priority of any other sums secured hereunderhereby; 14.3.1.8 maintain 12.2.1.8 ensure the maintenance or repair, restore or renovate, begin or complete any construction work on or related to renovate the Charged property, the whole at the Grantor’s costs; 14.3.2 the Trustee shall exercise its rights in good faith in order to attempt to reduce the Secured Obligations, in a reasonable manner, taking into account all circumstances; 14.3.3 12.2.2 the Trustee may, directly or indirectly, purchase or otherwise acquire the Charged propertyProperty; 14.3.4 12.2.3 the Trustee, when exercising where reasonably required in the exercise of its rights, may waive any right of the Grantor, with or without consideration therefor; 14.3.5 12.2.4 the Trustee shall have no obligation to make an inventory of the Charged propertyProperty, to take out any kind of insurance with respect thereof or to grant any security whatsoever; 14.3.6 12.2.5 the Trustee shall not be bound to continue to carry on the Grantor's ’s enterprise or to make any productive use of the Charged property Property or to maintain such property in operating condition; 14.3.7 12.2.6 the Grantor shall, upon request of the Trustee, move the Charged property Property and render it available to the Trustee unto premises designated by the Trustee and which, in its opinion, shall be more suitable in the circumstances.