Common use of SECURITY NOT ENFORCEABLE Clause in Contracts

SECURITY NOT ENFORCEABLE. Unless and until the Security has become enforceable pursuant to Clause 8.1 (Security Enforceable), the Borrower shall continue to be entitled to: (a) receive and retain all dividends, interest and other monies arising from the Secured Property; and (b) exercise all voting rights in relation to the Charged Shares; provided that the Borrower shall not exercise such voting rights, or otherwise permit or agree to (i) any variation of the rights attaching to or conferred by the Secured Property or any part of it, (ii) any increase in the issued share capital of the Company in any manner which, in the opinion of the Secured Party, would, or would be reasonably likely to, impair the value of, or prejudice the ability of the Secured Party to realise, the Security or (iii) in violation of any provision of the Financing Documents.

SECURITY NOT ENFORCEABLE. Unless and until the Security has become enforceable pursuant to Clause 8.1 (Security Enforceable), the Borrower DesalCo shall continue to be entitled to: (a) receive and retain all dividends, interest and other monies arising from the Secured Property; and (b) exercise all voting rights in relation to the Charged Shares; provided that the Borrower DesalCo shall not exercise such voting rights, or otherwise permit or agree to (i) any variation of the rights attaching to or conferred by the Secured Property or any part of it, (ii) any increase in the issued share capital of the Company in any manner which, in the opinion of the Secured Party, would, or would be reasonably likely to, impair the value of, or prejudice the ability of the Secured Party to realise, the Security or (iii) in violation of any provision of the Financing Documents.