Common use of Security Interests – Issuers, shareholders of JV Entities and JV Entities Clause in Contracts

Security Interests – Issuers, shareholders of JV Entities and JV Entities. Each Owner must procure that each of its Related Corporations which is: (a) a JV Entity; or (b) the holder of shares in, or other Securities issued by, the Manager or a JV Entity, does not create a Security Interest or permit a Security Interest to subsist over the whole or any part of: (c) its shares or other Securities in the Manager or a JV Entity; or (d) any Iron Ore Assets or JV Operations, other than: (e) any Permitted Security Interest;