Common use of Security Assets Clause in Contracts

Security Assets. The Chargor undertakes that: (a) it will (subject to the terms of the Facility Agreement) remain the legal and beneficial owner of the Security Assets and it or its nominee will remain the absolute legal owner of the Security Assets; and (b) it will not take any action whereby the rights attaching to the Shares or the Related Rights are altered or diluted except to the extent permitted by the Administrative Agent.

Security Assets. The Chargor undertakes that: (a) it will (subject to the terms of the Facility AgreementShareholders Agreement and this Mortgage) remain the legal and beneficial owner of the Security Assets and it or its nominee will remain the absolute legal owner of the Security Assets; and (b) it will not take any action whereby the rights attaching to the Shares or the Related Rights are altered or diluted except to the extent permitted by the Administrative AgentChargee.