Common use of Security Enforceable Clause in Contracts

Security Enforceable. At any time after the Security has become enforceable pursuant to Clause 8.1, the Secured Party shall be entitled to cause the Charged Shares to be registered in its name and may at its discretion (in the name of DesalCo or otherwise and without any further consent or authority from the DesalCo): (a) exercise or refrain from exercising any voting rights in respect of the Charged Shares and revoke, or cause to be revoked, any proxies given pursuant to Clause 3.1 (Security not Enforceable); (b) apply all dividends, interest and other monies arising from the Secured Property as if they were proceeds of sale under this Charge; (c) exercise or refrain from exercising the rights of a legal owner of the Secured Property, including the right, in relation to any company whose shares or other securities are included in the Secured Property, to concur or participate in: (i) the reconstruction, amalgamation, sale or other disposal of such company or any of its assets or undertaking (including the exchange, conversion or reissue of any shares or securities as a consequence thereof), (ii) the realisation, modification or variation of any rights or liabilities attaching to any such shares or securities, and (iii) the exercise, renunciation or assignment of any right to subscribe for any such shares or securities, in each case in such manner and on such terms as the Secured Party may think fit, and all rights resulting from any such action shall form part of the Secured Property.

Security Enforceable. At any time after the Security has become enforceable pursuant to Clause 8.1, the Secured Party shall be entitled to cause the Charged Shares to be registered in its name and may at its discretion (in the name of DesalCo the Borrower or otherwise and without any further consent or authority from the DesalCoBorrower): (a) exercise or refrain from exercising any voting rights in respect of the Charged Shares and revoke, or cause to be revoked, any proxies given pursuant to Clause 3.1 (Security not Enforceable); (b) apply all dividends, interest and other monies arising from the Secured Property as if they were proceeds of sale under this Charge; (c) exercise or refrain from exercising the rights of a legal owner of the Secured Property, including the right, in relation to any company whose shares or other securities are included in the Secured Property, to concur or participate in: (i) the reconstruction, amalgamation, sale or other disposal of such company or any of its assets or undertaking (including the exchange, conversion or reissue of any shares or securities as a consequence thereof), (ii) the realisation, modification or variation of any rights or liabilities attaching to any such shares or securities, and (iii) the exercise, renunciation or assignment of any right to subscribe for any such shares or securities, in each case in such manner and on such terms as the Secured Party may think fit, and all rights resulting from any such action shall form part of the Secured Property.

Security Enforceable. At any time after the Security has become enforceable pursuant to Clause 8.1, the Secured Party shall be entitled to cause the Charged Shares to be registered in its name and may at its discretion (in the name of DesalCo the Borrower or otherwise and without any further consent or authority from the DesalCo):Borrower); (a) exercise or refrain from exercising any voting rights in respect of the Charged Shares and revoke, or cause to be revoked, any proxies given pursuant to Clause 3.1 (Security not Enforceable); (b) apply all dividends, interest and other monies arising from the Secured Property as if they were proceeds of sale under this Charge; (c) exercise or refrain from exercising the rights of a legal owner of the Secured Property, including the right, in relation to any company whose shares or other securities are included in the Secured Property, to concur or participate in: (i) the reconstruction, amalgamation, sale or other disposal of such company or any of its assets or undertaking (including the exchange, conversion or reissue of any shares or securities as a consequence thereof), (ii) the realisation, modification or variation of any rights or liabilities attaching to any such shares or securities, and (iii) the exercise, renunciation or assignment of any right to subscribe for any such shares or securities, in each case in such manner and on such terms as the Secured Party may think fit, and all rights resulting from any such action shall form part of the Secured Property.

Security Enforceable. At any time after the Security has become enforceable pursuant to Clause 8.1, the Secured Party Trustee shall be entitled to cause the Charged Shares to be registered in its name and may at its discretion (in the name of DesalCo the Borrower or otherwise and without any further consent or authority from the DesalCoBorrower): (a) exercise or refrain from exercising any voting rights in respect of the Charged Shares and revoke, or cause to be revoked, any proxies given pursuant to Clause 3.1 (Security not Enforceable); (b) apply all dividends, interest and other monies arising from the Secured Property as if they were proceeds of sale under this Charge; (c) exercise or refrain from exercising the rights of a legal owner of the Secured Property, including the right, in relation to any company whose shares or other securities are included in the Secured Property, to concur or participate in: (i) the reconstruction, amalgamation, sale or other disposal of such company or any of its assets or undertaking (including the exchange, conversion or reissue of any shares or securities as a consequence thereof), (ii) the realisation, modification or variation of any rights or liabilities attaching to any such shares or securities, and (iii) the exercise, renunciation or assignment of any right to subscribe for any such shares or securities, in each case in such manner and on such terms as the Secured Party Trustee may think fit, and all rights resulting from any such action shall form part of the Secured Property.