SECURITY AND DEFAULT. 9.1 You undertake to XX Xxxx that either:
9.1.1 you will be the beneficial owner (which means that you have not sold, mortgaged, (except as permitted by the Individual Savings Account Regulations 1998 (as have subsequently been, and shall be, amended from time to time)) used as security for a loan or otherwise dealt with) of all money, investments or other assets of any nature that are transferred to or held by XX Xxxx, the XX Xxxx Nominee, other nominees, custodians and third parties (Custodians) for your account; or
9.1.2 the assets referred to in 9.1.1 above will be transferred to or held by the Custodians with the legal and beneficial owner’s unconditional consent and will be free of such owner’s interest or, in the case of a trust, the beneficial owner’s interest or that of any other person entitled and, in any event, will be transferred to or held by the Custodians free and clear of any lien, charge or other encumbrance and that you will not deal with them other than in accordance with these Terms without XX Xxxx’x prior consent.
9.2 If XX Xxxx does not receive cash or investments from you when due or you fail to settle any transaction on the due date (or if XX Xxxx reasonably considers that you have not or are unlikely to perform your obligations under these Terms), XX Xxxx may, following reasonable notice to us to allow you to meet your obligations and without prejudice to any other rights XX Xxxx may have, enter into an offsetting transaction or do anything else which would or could have the effect of reducing or eliminating any liability under any transaction, position or commitment undertaken for you (providing at all times XX Xxxx acts in accordance with its obligations under FCA best execution rules), including:
9.2.1 settling the Trade for you, although they shall be under no obligation to do so. If XX Xxxx xxxxxxx the Trade, we have agreed to forthwith pay or transfer to XX Xxxx within the timescale specified by XX Xxxx, sufficient money or, as the case may be, investments to reimburse XX Xxxx for any shortfall.
9.2.2 purchasing investments after the contracted settlement date to ensure settlement of the transaction in accordance with orderly market or exchange practice. If XX Xxxx does so and the cost of purchasing the investments is greater than the amount received by XX Xxxx on the settlement of the Sell Order, you shall, instead of delivering such investments to XX Xxxx pay to XX Xxxx an amount equal to the difference (together with any ...
SECURITY AND DEFAULT. 18.1 Custodians and other third parties may have a security interest, lien (legal right or claim) or right of set-off (the right to debit money held in an account to pay a debt owed to them) over any assets and cash they hold for you.
SECURITY AND DEFAULT. 18.1. If Sublessee shall default in the payment of rent or other payments required of Sublessee hereunder, and if Sublessee shall fail to cure said default within seven (7) business days after receipt of written notice of said default from Sublessor (or if such notice shall adversely affect the rights of the Sublessor in any bankruptcy or receivership, then immediately); or if Sublessee shall default in the performance or observance of any other agreement or condition on its part to be performed or observed, and if Sublessee shall fail to cure said default within thirty (30) days after notice thereof or such longer period as shall be reasonably required so long as the Sublessee shall be diligently pursuing such cure after receipt of written notice of said default from Sublessor (or if such notice shall adversely affect the rights of the Sublessor in any bankruptcy or receivership, then immediately); or if any person shall levy upon, or take this leasehold interest or any part hereof, upon execution, attachment, or their process of law; or if Sublessee shall make an assignment of its property for the benefit of creditors; or if Sublessee shall file voluntary bankruptcy; or if any bankruptcy or insolvency proceedings shall be commenced by Sublessee or an involuntary bankruptcy shall be filed against the Sublessee which remains undischarged for a period of sixty (60) days; or if a receiver, trustee, or assignee shall be appointed for the whole or any part of the Sublessee's property (which events are referred to herein as "Defaults" or singularly as a "Default"), then in any of said cases, Sublessor lawfully then or at any time thereafter, and without further notice or demand, (a) enter into and upon the Subleased Premises, or any part hereof in the name of the whole, and hold the Subleased Premises as if this Sublease had not been made, and expel Sublessee and those claiming under it, and remove its or their property without being taken or deemed to be guilty of any manner of trespass whereupon the term of this Sublease shall terminate; or (b) send written notice of such termination to Sublessee, whereupon Sublessee shall immediately and forthwith vacate the Subleased Premises and deliver same to Sublessor in a good, clear and tenantable condition. Sublessee hereby expressly waives any and all rights of redemption granted by or under any present or future laws in the event of Sublessee being evicted or dispossessed for any cause, or in the event Sublessor te...
SECURITY AND DEFAULT. MCA by its signature below and through its execution of credit and security or other agreements required by the Bank acknowledges and agrees that all outstanding limited liability company interests in the Company which are owned by MCA and/or its assignees, including AC, (the "MCA Interest") are collateral for, and secure, all of the Loans which Company will obtain from the Bank. Should Company default in its repayment of any Loan amount due to Bank at the time of the Loan's maturity date, MCA and AC (MCA's Guarantor) jointly and severally agree to repay any such Loan amount and accrued interest then due. Should MCA default in repayment of such amounts, then the Bank may obtain the MCA Interest which secures the Loan and sell it to pay any amounts due to the Bank on the Loans. M-I will have the right of first refusal to purchase the MCA Interest from the Bank. Any excess money from the sale of MCA Interest will be returned to MCA. If there is insufficient money from the sale of MCA Interest to pay the amounts due under the Loans, then AC as MCA's Guarantor will pay the difference.
SECURITY AND DEFAULT. 9.1 You represent and warrant, jointly and severally with us, to Third Platform Services that all money, investments or other assets of any nature transferred to or held by Third Platform Services their nominees and custodians for your account are your sole and beneficial property or are transferred to or held by Third Platform Services their nominees and custodians with the legal and beneficial owner’s unconditional consent and are free of such owner’s interest and, in any event, are and will be transferred to or held by Third Platform Services their nominees and custodians free and clear of any lien, charge or other encumbrance and undertake that neither you nor we will charge, assign or otherwise dispose of or create any interest therein.
SECURITY AND DEFAULT
